Legal Affairs
Federal Inaction on Cannabis Exports May Cost U.S. Economy $10 Billion Annually
LOS ANGELES- The United States' federal stance on cannabis exports is potentially costing the economy up to $10 billion each year, according to industry analyses. While domestic cannabis sales are projected to reach $35.3 billion ...
LEEF Brands Reports Financial Results
LOS ANGELES- LEEF Brands Inc. a vertically integrated cannabis company based in California, has released its financial results for the first quarter of 2025 and the full year of 2024. The company reported a 19% ...
California Lawmakers Advance Bill to Halt Cannabis Excise Tax Increase
LOS ANGELES- California's legal cannabis industry is confronting a potential tax increase that stakeholders warn could exacerbate existing challenges. Assembly Bill 564 (AB 564), introduced by Assemblymember Matt Haney (D-San Francisco), seeks to prevent the ...
Cannabis and Psychedelic Mushroom Kiosk at Brookfield Square Mall Draws Mixed Reactions
LOS ANGELES- A kiosk at Brookfield Square Mall in Brookfield, Wisconsin, operated by Waukesha-based Ethereal Gold Dispensary, has garnered attention for selling cannabis and psychedelic mushroom products. The presence of this kiosk has sparked a ...
South Africa’s Department of Health Enacts Ban on Cannabis and Hemp Food Products
LOS ANGELES- The South African Department of Health has implemented new regulations prohibiting the production, sale, and importation of foodstuffs containing components derived from the Cannabis sativa L. plant, including hemp, hemp seed oil, and ...
Cresco Labs Reports: Financial Results for Q4 and Full Year ending December 31, 2024
LOS ANGELES- Cresco Labs Inc., a cannabis company, has announced its financial results for the fourth quarter and full year ending December 31, 2024. The company reported an operating cash flow of $132 million for ...
Vermont Senators Propose Expansion of Psychedelic Therapy Advisory Group
LOS ANGELES- A group of Vermont state senators has introduced Senate Bill 106 (S.106), aiming to extend and expand the scope of the existing Psychedelic Therapy Advisory Working Group. The bill proposes to continue the ...
Federal Inaction on Cannabis Exports May Cost U.S. Economy $10 Billion Annually
LOS ANGELES- The United States' federal stance on cannabis exports is potentially costing the economy up to $10 billion each year, according to industry analyses. While domestic cannabis sales are projected to reach $35.3 billion ...
LEEF Brands Reports Financial Results
LOS ANGELES- LEEF Brands Inc. a vertically integrated cannabis company based in California, has released its financial results for the first quarter of 2025 and the full year of 2024. The company reported a 19% ...
California Lawmakers Advance Bill to Halt Cannabis Excise Tax Increase
LOS ANGELES- California's legal cannabis industry is confronting a potential tax increase that stakeholders warn could exacerbate existing challenges. Assembly Bill 564 (AB 564), introduced by Assemblymember Matt Haney (D-San Francisco), seeks to prevent the ...
Los Angeles Law Enforcement Prioritizes Magic Mushroom Seizure Over More Dangerous Substances
Los Angeles-In a recent display of law enforcement priorities, the Los Angeles Police Department (LAPD) has made headlines for the confiscation of a substantial quantity of magic mushrooms. This seizure comes amid growing concerns about ...
California’s Leading Cannabis Distributor HERBL Faces Spectacular Collapse, Leaving Brands Unpaid
Los Angeles-In a stunning turn of events, HERBL, California's largest cannabis distributor, has collapsed, leaving a trail of unpaid brands and an uncertain future for the state's thriving cannabis industry. The sudden demise of HERBL, ...
FDA Releases Draft Guidance on Psychedelic Research, Paving the Way for Future Clinical Trials
LOS ANGELES-- The U.S. Food and Drug Administration (FDA) has taken a groundbreaking step in the field of psychedelic research by releasing a draft guidance document aimed at providing recommendations to researchers exploring the potential ...
Colorado Governor Jared Polis Announces Plans to Pardon Convictions Related to Psychedelics
DENVER - In a groundbreaking move, Governor Jared Polis of Colorado (D) unveiled his intention to issue pardons for all criminal convictions in the state pertaining to psychedelic drugs. The announcement came during his speech ...
Minnesota Embraces Cannabis Legalization, Paving the Way for Lucrative Business Ventures
MINNEAPOLIS - In a significant development, Minnesota has joined the ranks of adult-use cannabis states, creating a promising landscape for potential business opportunities. After months of legislative deliberation, the state became the 23rd in the ...
Canopy Growth Corporation Reports Declining Revenue
TORONTO — Canopy Growth Corporation, a leading player in the Canadian cannabis industry, announced steep losses exceeding C$3 billion in its recent financial report. Despite a 14% decline in revenue for the fourth quarter ending ...
Canopy Growth Corporation Reports Declining Revenue
TORONTO — Canopy Growth Corporation, a leading player in the Canadian cannabis industry, announced steep losses exceeding C$3 billion in its recent financial report. Despite a 14% decline in revenue for the fourth quarter ending ...
TerrAscend Receives Conditional Approval for TSX Listing, Announces Private Placements in Strategic Move for Cannabis Industry Expansion
TerrAscend Corp., a cannabis operator in North America, has received conditional approval to list its common shares on the Toronto Stock Exchange (TSX), according to an announcement made by the company on Wednesday. This development, ...
New York’s Adult-Use Cannabis Program Falls Short of Tax Revenue Targets, Report Reveals
NEW YORK-- New York's nascent adult-use cannabis program has faced significant challenges in meeting its projected tax revenue targets, according to a recent report released by the Coalition for Access to Regulated & Safe Cannabis ...
Minnesota Craft Brewers Embrace New Cannabis Law, Expanding Opportunities for Low-Dose THC Beverages
LOS ANGELES-- Minnesota's craft brewing industry is abuzz with excitement following the enactment of a new cannabis law in the state. Industry leaders actively sought further regulations regarding THC-infused beverages and expressed their satisfaction with ...
California Department of Cannabis Control Awards $4.145 Million in Grants to Expand Access to Regulated Cannabis Retail
LOS ANGELES-- In an effort to bolster access to licensed retail cannabis, the California Department of Cannabis Control (DCC) announced on Tuesday that it has granted a total of $4.145 million to 18 municipalities across ...
Canada House Cannabis Group Announces Restatement of Financial Statements to Rectify Accounting Errors
LOS ANGELES-- Canada House Cannabis Group Inc. announced today the filing of a restatement of its unaudited condensed consolidated financial statements for the six months ended January 31, 2023, and 2022. The restatement, referred to ...
Acreage Holdings Optimizes Board of Directors as it Prepares for Acquisition by Canopy USA
LOS ANGELES-- Acreage Holdings, a New York-based cannabis multistate operator, has taken steps to streamline its board of directors in preparation for its impending acquisition by Canopy USA, the American subsidiary of Canadian producer Canopy ...
Nevada Enacts Comprehensive Cannabis Reform, Expanding Possession Limits and Easing Industry Restrictions
NEVADA-- In a significant development for the cannabis industry, Nevada Governor Joe Lombardo, a Republican, signed an omnibus cannabis bill into law last week. The new legislation, which was sponsored by state Senator Dallas Harris, ...
California Department of Cannabis Control Grants $4.145 Million to Expand Access to Licensed Retail Cannabis
LOS ANGELES -- The California Department of Cannabis Control (DCC) has announced the allocation of $4.145 million in grants to 18 municipalities aimed at enhancing access to licensed retail cannabis. Among the recipients, 14 jurisdictions ...
State-Level Tax Relief Provides Boost to U.S. Cannabis Industry Amidst Federal Uncertainty
LOS ANGELES-- In a much-needed respite for the U.S. cannabis industry, a growing number of states—20 in total—have passed legislation to exempt businesses from the burdensome Section 280E of the federal tax code. This move ...
TerrAscend Receives Regulatory Approval for Acquisition of Peninsula Alternative Health, Expanding Maryland Footprint
LOS ANGELES-TerrAscend Corp. North American cannabis operator, announced today that it has obtained regulatory approval from the Maryland Cannabis Administration (MCA) for its planned acquisition of Peninsula Alternative Health, a well-established medical dispensary in Maryland. ...
Cannabis Legalization in the United States: A Look at Recent Developments and Future Prospects
LOS ANGELES-- Last fall, President Joe Biden made headlines when he issued pardons for federal offenders charged and convicted of cannabis possession. However, despite this gesture, cannabis still remains federally illegal, classified as a Schedule ...
Ascend Wellness Plans to Raise $7 Million in Private Placement Offering
LOS ANGELES --Cannabis multistate operator Ascend Wellness Holdings Inc. has announced its intention to raise $7 million through a private placement offering. The New York-based MSO plans to sell 9,859,155 shares of Class A common ...
Australian Study Reveals Increase in Medicinal Cannabis Prescriptions for Psychiatric Disorders
LOS ANGELES-- Recent study conducted by the Lambert Initiative for Cannabinoid Therapeutics at the University of Sydney has shed light on the growing utilization of medicinal cannabis (MC) prescriptions for the treatment of psychiatric disorders ...
Alabama Medical Cannabis Program Awards Business Licenses, Paving the Way for Patient Access
LOS ANGELES-- Alabama has achieved a significant milestone in its medical cannabis journey as the state's medical cannabis program moves forward with the awarding of business licenses. Limited access to medicinal cannabis had been permitted ...
Body and Mind Inc. Divests Michigan Dispensary, Shifts Focus to Illinois and New Jersey Cannabis Markets
LOS ANGELES-- Body and Mind Inc has successfully obtained all required regulatory approvals to divest its Muskegon, Michigan, dispensary, the company announced on Friday. The transaction, originally outlined in a stock purchase agreement on April ...
Green Acre Capital Distribution Corp. Increases Stake in US Distribution Joint Venture, Humble & Fume Provides Additional Information on Private Placement
Humble & Fume Inc. a distributor of cannabis and cannabis accessories in North America, has announced that Green Acre Capital Distribution Corp. has made an additional investment of US$1.99 million in HC Solutions Holdings Inc. ...
RIV Capital Expresses Optimism for New York Cannabis Market Amid Regulatory Developments
LOS ANGELES-- RIV Capital remains optimistic about its position in the New York cannabis market, as highlighted during the company's fourth-quarter and fiscal year-end 2023 earnings call. Interim CEO Mike Totzke expressed confidence in RIV's ...
Oklahoma Governor Kevin Stitt Vetoes Legislation Restricting Medical Cannabis Access
OKLAHOMA -- In a recent development, Republican Governor Kevin Stitt of Oklahoma has vetoed Senate Bill 437, a piece of legislation that aimed to impose new rules limiting patients' access to medical cannabis. The proposed ...
