Legal Affairs
Cannabis Industry Eyes Quadrupled Growth Through 2033, Research and Markets Reports
LOS ANGELES – A new report from Research and Markets forecasts the global Cannabis market will expand from $39.1 billion in 2024 to $151.72 billion by 2033, reflecting a compound annual growth rate (CAGR) of ...
Curaleaf Secures $100M Revolving Credit Facility
STAMFORD – Curaleaf Holdings Inc. closed an expanded revolving credit agreement with Needham Bank, increasing its borrowing limit to $100 million from $40 million and extending the term to as long as five years. The ...
Planet 13 Expands Florida Footprint
LAS VEGAS – Planet 13 Holdings Inc., a vertically integrated Cannabis operator with cultivation, production, and retail operations in four states, launched its latest medical Cannabis outlet in DeLand, Florida. The store, situated in the ...
Trulieve Opens Dispensary in Cincinnati, Strengthening Ohio Market Position
TALLAHASSEE – Trulieve Cannabis Corp., a major multi-state Cannabis operator, has launched its first dispensary in Cincinnati, marking the company's 7th location in Ohio and its 238th nationwide. The facility stocks a range of Trulieve's ...
Jushi Sues Pennsylvania Retailers Over Unregulated Hemp-Derived THC Products
PHILADELPHIA – Jushi Holdings Inc. has initiated legal action against 10 hemp companies in Pennsylvania, alleging they sell intoxicating products disguised as legal hemp that violate state laws and erode profits for licensed operators. The complaint, ...
STUDY: Cannabis Consumers Engage in Greater Levels of Physical Exercise
OKLAHOMA CITY–Middle-aged adults are more likely to engage in physical activities on days when they also consume cannabis, according to data published in the journal Addictive Behaviors. Researchers affiliated with the University of Oklahoma assessed the relationship between cannabis use ...
Agrify Corp Rebrands to RYTHM Inc Following $50M Green Thumb Brands Portfolio Acquisition
CHICAGO – Agrify Corporation has acquired a portfolio of intellectual property from Green Thumb Industries (GTI) for $50 million, including cannabis brands like RYTHM, Dogwalkers, Beboe, incredibles, &Shine, Doctor Solomon’s, Good Green, and Señorita. Concurrently, ...
Cannabis Industry Eyes Quadrupled Growth Through 2033, Research and Markets Reports
LOS ANGELES – A new report from Research and Markets forecasts the global Cannabis market will expand from $39.1 billion in 2024 to $151.72 billion by 2033, reflecting a compound annual growth rate (CAGR) of ...
Curaleaf Secures $100M Revolving Credit Facility
STAMFORD – Curaleaf Holdings Inc. closed an expanded revolving credit agreement with Needham Bank, increasing its borrowing limit to $100 million from $40 million and extending the term to as long as five years. The ...
Planet 13 Expands Florida Footprint
LAS VEGAS – Planet 13 Holdings Inc., a vertically integrated Cannabis operator with cultivation, production, and retail operations in four states, launched its latest medical Cannabis outlet in DeLand, Florida. The store, situated in the ...
Filament Health and Jupiter Acquisition Corp. Strike NASDAQ Deal for Psychedelics Advancement
LOS ANGELES-- Canadian clinical-stage natural psychedelics firm Filament Health has taken a significant step forward by signing a definitive agreement with Special Purpose Acquisition Company (SPAC) Jupiter Acquisition Corp. to establish a new public company ...
Minnesota’s Cannabis Legalization Takes Effect, Allowing Possession and Cultivation for Adults 21 and Older
MINNEAPOLIS — On Tuesday, Minnesota officially enacted its cannabis legalization law, granting adults aged 21 and older the right to possess and grow cannabis for personal use. This legalization, passed by lawmakers earlier this year ...
New Study Reveals Real-Time Brain Changes After Ketamine Use
LOS ANGELES-- A groundbreaking study, published in the Nature Journal Scientific Reports and sponsored by psychedelics firm Cybin Inc. (CYBN), demonstrates Kernel's Flow technology system's capability to capture and analyze brain changes following the administration ...
The Hive: What’s The Buzz’ In The Cannabis Hive?
LOS ANGELES–Welcome back to the sizzling world of cannabis intrigue and whispers. Get ready to ignite those rolling papers as we dive into a fresh batch of scintillating tales. Move over, CEO love triangle – ...
New Legislation Marks a Milestone in Cannabis Legalization in Minnesota
NEW YORK- On Tuesday, August 1st, a groundbreaking legislation allowing adults to possess and home-cultivate personal-use quantities of cannabis took effect in Minnesota. The move makes Minnesota the 23rd state to legalize and regulate the ...
Under Armour Signs $9 Million Deal with Hemp Black for Sustainable Yarn Supply
LOS ANGELES-- Hemp Black, a subsidiary of Australia-based Ecofibre, has entered into a significant supply agreement with global sports apparel brand Under Armour Inc. The deal, valued at $9 million annually, will involve Hemp Black ...
Psyence Group Inc. Reports Financial Losses Driven by Research and Development Costs
NEW YORK-- Psyence Group Inc. a psychedelic medicine and fungiculture company headquartered in British Columbia, recently disclosed its financial results for the fiscal year ending March 31, highlighting a surge in losses primarily attributed to ...
Massachusetts Cannabis Social Equity Fund Remains Unfunded a Year After Creation
LOS ANGELES-- Almost a year since its inception, the Massachusetts fund designed to promote social equity in the state's cannabis industry has yet to receive funding, as reported by the Boston Business Journal, citing minutes ...
Cresco & Columbia Care Terminate Their Proposed $2 Billion Merger
NEW YORK-In a significant development within the burgeoning cannabis sector, the much-anticipated $2 billion merger between cannabis producers Cresco Labs and Columbia Care Inc has been called off. Announced in March of the previous year, ...
Housing Works Cannabis Co. Achieves Impressive $12 Million in Sales in First Six Months
NEW YORK - Housing Works Cannabis Co., the inaugural adult-use retailer to establish its presence in New York, has reported a remarkable $12 million in sales during the initial six months of operations. The nonprofit ...
Psilocybin Combined with Psychotherapy Shows Potential as Anorexia Nervosa Treatment
LOS ANGELES-- In a groundbreaking step towards finding effective treatments for anorexia nervosa (AN), a phase 1 clinical trial investigated the use of psilocybin, the primary psychoactive compound in hallucinogenic mushrooms, in combination with psychotherapy. ...
Ascend Wellness Plans to Raise $7 Million in Private Placement Offering for Strategic Acquisitions
NEW YORK — Ascend Wellness, a prominent cannabis multistate operator (MSO), is set to embark on a private placement offering to raise $7 million in capital. As part of the equity financing terms, the New ...
California Proposal Seeks to Establish $5 Billion Psychedelics Research Agency
LOS ANGELES— A group of strategists from California has formally introduced a proposed initiative known as the "TREAT California Act." Unlike traditional efforts focused on advocating for direct legalization, this initiative aims to create a ...
House Approves Measures to Expand Medical Cannabis Access for Veterans and Fund Psychedelic Research
WASHINGTON, D.C. — In a significant move for veterans' healthcare and research into therapeutic substances, the U.S. House of Representatives has greenlit amendments to a substantial spending bill. The amendments would enable U.S. Department of ...
Tilray Surges 15% Amidst Q4 Results, But Skepticism Lingers for Investors
LOS ANGELES-Tilray Brands, the Canadian cannabis producer with hopes of entering the USA, experienced a momentary glimmer of hope as its shares surged 15% on Wednesday following the release of its fiscal fourth-quarter results. While ...
Mastercard Bars Cannabis Transactions on Debit Cards, Dealing a Blow to the Industry
NEW YORK-In a recent move, Mastercard (MA.N) has directed financial institutions to cease processing cannabis transactions on its debit cards, delivering a significant blow to an industry that has long struggled to gain a foothold ...
ACLU Backs Citizens’ Initiative for Recreational Cannabis in Florida, Challenges Supreme Court Review
LOS ANGELES-- The American Civil Liberties Union of Florida (ACLU) has thrown its support behind a citizens' initiative seeking to legalize recreational cannabis in the state. In a recent brief filed on Monday, the ACLU ...
Women’s Canna Awards Returns For Second Year
SACRAMENTO– The Women’s Canna Awards, produced by Debutante Honors, Inc, a 501(c)(6) professional association, the biggest and most sought-after award show dedicated to highlighting women in the cannabis industry, will be returning for its second ...
Falling Stock Prices Force Down Cannabis Industry CEO Pay in 2022
LOS ANGELES-The cannabis industry has been a rollercoaster ride for investors and executives alike, with fluctuating stock prices and evolving regulations shaping the landscape. One significant consequence of the industry's ups and downs has been ...
InMed Pharmaceuticals Evaluates Options for Promising INM-755 Compound After Successful Clinical Trial
LOS ANGELES-- Following the encouraging results of its Phase II clinical trial for INM-755, an anti-itch cannabinoid-based cream for skin disorders, InMed Pharmaceuticals (NASDAQ: INM) is now weighing its next steps to maximize value for ...
Ohio’s Adult-Use Cannabis Legalization Bid Requires More Signatures
LOS ANGELES-- Ohio voters could potentially see the issue of adult-use cannabis legalization on the November ballot, but campaign organizers are facing a final hurdle before achieving that goal. The "Regulate Cannabis Like Alcohol" campaign, ...
Hemp Companies in Maryland Challenge State Officials, Citing Regulatory Plan Threatening Business Survival
LOS ANGELES-- A group of hemp companies in Maryland has taken legal action against Governor Wes Moore and several state officials, contending that the regulatory framework approved for the recreational cannabis industry poses a serious ...
Arkansas Bans THC Products Derived from Hemp Ahead of Projected $300 Million Medical Cannabis Sales
LOS ANGELES-- Effective August 1, a new law in Arkansas will prohibit the sale of THC products derived from hemp, as reported by 40/29 News. This measure comes amid the state's projected record-breaking medical cannabis ...
Legisladores Colombianos Reintroducen Proyecto de Ley para la Legalización del Cannabis en Todo el País
BOGOTA-- Los legisladores colombianos han dado un nuevo paso hacia la legalización del cannabis en todo el país al reintroducir un proyecto de ley durante la próxima sesión legislativa. Este esfuerzo renovado llega apenas un ...
Colombian Lawmakers Reintroduce Bill to Legalize Cannabis Nationwide
BOGOTA-- Colombian lawmakers have taken another step toward nationwide cannabis legalization by reintroducing a bill during the upcoming legislative session. This renewed effort comes just a month after the previous version stalled in the Senate, ...
