Legal Affairs
SNDL Reports Q1 2025 Earnings
LOS ANGELES- SNDL Inc. announced its financial and operational results for the first quarter ended March 31, 2025. The company reported net revenue of CAD $204.9 million, a 3.6% increase compared to the same period ...
Cybin CEO to Discuss Medical Innovation at Milken Institute Global Conference
LOS ANGELES- Cybin Inc. a neuropsychiatry company, announced that its Chief Executive Officer, Doug Drysdale, will participate in a panel discussion at the 28th Annual Milken Institute Global Conference. The panel, titled "The Global Landscape ...
Regulatory Advances Propel Global Medical Cannabis Market Growth
LOS ANGELES- The global medical cannabis market is experiencing significant growth, driven by regulatory reforms and increased acceptance of cannabis-based therapies. According to the "Medical Marijuana - Global Strategic Business Report 2025," the market was ...
Tokyo Smoke Closes Toronto Locations Amid Industry Challenges
LOS ANGELES- Tokyo Smoke, a prominent cannabis retailer, has reportedly ceased operations at all its Toronto outlets. This development aligns with a broader trend of cannabis store closures across Canada, reflecting the industry's evolving landscape. ...
Anna Kole Joins Highly Capitalized Network-HCN to Help Lead Content Development and Distribution
FOR IMMEDIATE RELEASE LOS ANGELES — Highly Capitalized Network-HCN, a leading source of financial news and market insights for the cannabis and psychedelics industries is excited to welcome Anna Kole as their new Content Editing ...
Innovative Cannabis-Derived Compound Offers Pain Relief Without Psychoactive Effects
LOS ANGELES- Researchers at Washington University School of Medicine in St. Louis and Stanford University have developed a novel compound that replicates the pain-relieving properties of cannabis without inducing psychoactive side effects or addiction. ...
Minnesota Extends Cannabis Business Application Deadline Following System Outage
LOS ANGELES- The Minnesota Office of Cannabis Management (OCM) has extended the deadline for cannabis business license applications after its online application system experienced an unexpected shutdown. System Outage Details On Friday, March 14, ...
SNDL Reports Q1 2025 Earnings
LOS ANGELES- SNDL Inc. announced its financial and operational results for the first quarter ended March 31, 2025. The company reported net revenue of CAD $204.9 million, a 3.6% increase compared to the same period ...
Cybin CEO to Discuss Medical Innovation at Milken Institute Global Conference
LOS ANGELES- Cybin Inc. a neuropsychiatry company, announced that its Chief Executive Officer, Doug Drysdale, will participate in a panel discussion at the 28th Annual Milken Institute Global Conference. The panel, titled "The Global Landscape ...
Regulatory Advances Propel Global Medical Cannabis Market Growth
LOS ANGELES- The global medical cannabis market is experiencing significant growth, driven by regulatory reforms and increased acceptance of cannabis-based therapies. According to the "Medical Marijuana - Global Strategic Business Report 2025," the market was ...
Cresco Labs and Columbia Care Encounter Setback in Pursuit of Multibillion Megamerger
LOS ANGELES-- Chicago-based Cresco Labs and Columbia Care announced on Friday that they have failed to meet the June 30 deadline set in their arrangement agreement, hindering their proposed multibillion-dollar merger. The companies, which have ...
New Jersey’s Cannabis Market Faces Plateau in Sales Amid Regulatory Challenges
LOS ANGELES-- Despite the growth of New Jersey's adult-use cannabis market during the first quarter of 2023, the state's overall sales figures have hit a nine-month plateau due to ongoing regulatory developments and the slow ...
Canopy Growth Strives for Profitability with Asset Sales Amid Financial Challenges
LOS ANGELES-- Canopy Growth Corp a Canada-based cannabis company, is aiming to raise $150 million by September 30 through the sale of its assets. The company, facing significant debt and substantial losses, recently announced the ...
Luxembourg Becomes Second EU Country to Legalize Personal Cannabis Use and Cultivation
LOS ANGELES-- Luxembourg, a European Union member nation, has taken a significant step in cannabis reform by legalizing the possession and cultivation of cannabis for personal use. According to a report by Forbes, Luxembourg became ...
Brownie Mary: Remembering the Remarkable Legacy of a Cannabis Crusader
SAN FRANCISCO — Brownie Mary, a tireless advocate for cannabis legalization, who captured the hearts and minds of many with her compassion and unwavering commitment to social justice, remains an iconic figure in the movement. ...
Ron DeSantis’ Shifting Stance on Cannabis Legalization Raises Questions of Political Motivations
MIAMI- In a surprising about-face, Florida Governor Ron DeSantis has drawn criticism for his recent shift in stance on cannabis legalization, specifically regarding medical use. Once a proponent of cannabis legalization for medicinal purposes, DeSantis ...
Cannabis Industry’s Battle Royale: Catalyst Accuses Glass House Brands of Supplying Illicit Market, Triggers Defamation Countersuit
LOS ANGELES- In a surprising turn of events, the cannabis industry is witnessing an escalating legal showdown between two prominent players, Glass House Brands Inc. and Catalyst. The rift between these industry giants has reached ...
Canadian Government Invests $3 Million in Psilocybin-Assisted Psychotherapy Trials
LOS ANGELES-- The advancement of psychedelic medicine in Canada received a significant boost as the Minister of Mental Health and Addictions, Carolyn Bennett, announced an investment of nearly $3 million through the Canadian Institutes of ...
Maryland Becomes 20th State to Launch Adult-Use Cannabis Sales
LOS ANGELES-- Starting July 1, Maryland will join the growing list of states in the United States to legalize adult-use cannabis sales. This milestone comes less than eight months after the state's voters approved a ...
Cannabis Industry Struggles Amid Worsening Economic Conditions, Report Finds
LOS ANGELES-- In a new report published by Whitney Economics, it becomes evident that the cannabis industry in the United States is grappling with worsening economic conditions. The report, titled "Cannabis Operator Sentiment and Business ...
TerrAscend Corp to Begin Trading on TSX with New Ticker Symbol “TSND”
LOS ANGELES-- TerrAscend Corp, a U.S. cannabis industry, is set to begin trading on the Toronto Stock Exchange (TSX) on July 4, 2023. This development comes as TerrAscend aims to expand its investor base and ...
FDA Releases Draft Guidance for Research on Psychedelic Drugs
LOS ANGELES-- the U.S. Food and Drug Administration (FDA) unveiled its Draft Guidance for conducting research on psychedelic drugs. The guidance encompasses substances such as psilocybin, LSD, and MDMA, reflecting the growing interest in exploring ...
Florida Supreme Court to Review Proposed Cannabis Legalization Amendment
LOS ANGELES-- In a recent development, Florida's attorney general, Ashley Moody, has filed a request with the state Supreme Court to reject a proposed constitutional amendment aimed at legalizing cannabis for adult use in the ...
Psychedelics Industry Seeks Financial Solutions Amid Valuation Plunge
DENVER — The Psychedelic Science 2023 conference in Denver revealed a challenging financial landscape for publicly traded psychedelics companies. Several financial experts at the conference highlighted the sharp decline in valuations over the past two ...
Curaleaf Holdings, Inc. Announces Launch of Adult Use Cannabis Sales in Maryland
LOS ANGELES-- Curaleaf Holdings, Inc., a provider of cannabis products, has revealed its plans to initiate adult use cannabis sales at all four of its dispensaries in Maryland on July 1, coinciding with the state's ...
StateHouse Holdings Inc. Reports Revenue Growth in Q1 2023, Debt Concerns Remain
LOS ANGELES-- StateHouse Holdings Inc. announced a 42% increase in revenues to $24.7 million for the first quarter ending March 31, 2023. Retail revenues also experienced substantial growth, rising 58% to $14.4 million compared to ...
Maryland Prepares for Launch of Recreational Cannabis Market on July 1
LOS ANGELES-- Maryland is gearing up for the launch of its state-legal recreational cannabis industry on Saturday, July 1, signaling a shift from its portrayal in HBO's The Wire to a regulated market for adult-use ...
Glass House Brands Files Defamation Lawsuit Against Catalyst Cannabis Over Illicit Market Claims
LOS ANGELES-- California-based Glass House Brands Inc. has taken legal action against Catalyst Cannabis and its leadership, filing a defamation lawsuit in response to allegations made by Catalyst that Glass House is the "biggest black ...
North Carolina Advances Bill to Regulate Hemp-Derived Cannabis and Kratom Products
LOS ANGELES-- In a significant development for the hemp industry, a bill aimed at regulating hemp-derived cannabis and kratom products has successfully passed the House Judiciary Committee in North Carolina. This milestone positions the bill ...
Colombian Lawmakers Narrowly Reject Bill for Legal Cannabis Sales
LOS ANGELES-- In a close vote of 47-43, Colombian lawmakers fell short of passing a bill that would have legalized adult-use cannabis sales nationwide. Although the measure received a majority of support in the chamber, ...
Florida Governor Ron DeSantis Signs Legislation Granting Medical Cannabis Licenses to Black Farmers and Expanding Telehealth Renewals
TALLAHASSEE - Florida Governor Ron DeSantis has signed a bill into law that aims to address longstanding inequities in the state's medical cannabis industry. The legislation provides medical cannabis cultivation licenses specifically to Black farmers ...
Tennessee Implements 6% Sales Tax on Hemp-Derived Cannabinoid Products as of July 1
NASHVILLE-- Tennessee residents purchasing products containing hemp-derived cannabinoids, including CBD, delta-8 THC, delta-9 THC, and delta-10 THC, will soon face an additional 6% "privilege" sales tax starting July 1. The state's Department of Revenue has ...
Ayr Wellness Secures Debt Reprieve of $69 Million Through Strategic Agreements Amid Acquisitions
MIAMI - Ayr Wellness, a multistate cannabis company, has successfully negotiated agreements to defer principal and amortization payments on debt obligations totaling approximately $69 million by two years. These deferrals were achieved through amendments to ...
TerrAscend Boosts Equity and Debenture Offering to $20 Million, Accelerating Expansion Plans
LOS ANGELES-- North American cannabis multistate operator, TerrAscend, has announced an increase in its previously announced equity and debenture offering from $15 million to $20 million. According to a news release issued on Monday, the ...
Cannabis Industry Faces Legal Challenge as Anti-Cannabis Activists File Lawsuit in New York
NEW YORK-- A coalition comprising anti-marijuana activists and nonprofits has recently taken legal action against the state of New York, aiming to reinstate cannabis prohibition and roll back the legalization law enacted in 2021. The ...
