Legal Affairs
Pennsylvania Senator Introduces ‘Keystone Cannabis Act’ to Legalize Adult-Use Cannabis
LOS ANGELES- Pennsylvania State Senator Marty Flynn (D-22) has announced plans to introduce the "Keystone Cannabis Act," a legislative proposal aimed at legalizing adult-use cannabis in the Commonwealth. The announcement follows the recent rejection of ...
Rubicon Organics Finalizes Conditions for Hope Facility Acquisition
LOS ANGELES- Rubicon Organics Inc. has announced the fulfillment of all conditions precedent related to its agreement with MediPharm Labs Inc. for the acquisition of a 47,500-square-foot indoor cultivation facility located in Hope, British Columbia. ...
Argentina Overhauls Medical Cannabis Program with Stricter Regulations
LOS ANGELES- In 2025, Argentina implemented significant reforms to its medical cannabis program, REPROCANN, introducing stricter regulations for cultivators, non-governmental organizations (NGOs), and medical professionals. These changes aim to enhance oversight and ensure the program's ...
The Cannabist Company Receives Court Approval for Corporate Restructuring Plan
LOS ANGELES- The Cannabist Company Holdings Inc. a U.S.-based cannabis cultivator, manufacturer, and retailer, has obtained final approval from the Ontario Superior Court of Justice (Commercial List) for its previously announced Plan of Arrangement under ...
Canada’s Legal Cannabis Market Forecasted to Reach $5.79 Billion by 2030
LOS ANGELES- Canada's legal cannabis industry is projected to expand significantly over the next five years, with market size estimates reaching USD 5.79 billion by 2030, up from USD 3.25 billion in 2024. This growth ...
Humboldt Family Farms: Terroir and Cannabis
The concept of terroir, traditionally rooted in French viticulture, refers to the unique set of environmental factors that influence the growth and characteristics of a crop. While usually associated with wine, the application of terroir ...
Texas Republicans Approve Total Ban on Hemp-Derived THC Products
DALLAS-In a sweeping move that could reshape Texas' booming hemp industry, the state House of Representatives has passed an amended version of Senate Bill 3 that bans all hemp products containing any form or amount ...
Pennsylvania Senator Introduces ‘Keystone Cannabis Act’ to Legalize Adult-Use Cannabis
LOS ANGELES- Pennsylvania State Senator Marty Flynn (D-22) has announced plans to introduce the "Keystone Cannabis Act," a legislative proposal aimed at legalizing adult-use cannabis in the Commonwealth. The announcement follows the recent rejection of ...
Rubicon Organics Finalizes Conditions for Hope Facility Acquisition
LOS ANGELES- Rubicon Organics Inc. has announced the fulfillment of all conditions precedent related to its agreement with MediPharm Labs Inc. for the acquisition of a 47,500-square-foot indoor cultivation facility located in Hope, British Columbia. ...
Argentina Overhauls Medical Cannabis Program with Stricter Regulations
LOS ANGELES- In 2025, Argentina implemented significant reforms to its medical cannabis program, REPROCANN, introducing stricter regulations for cultivators, non-governmental organizations (NGOs), and medical professionals. These changes aim to enhance oversight and ensure the program's ...
GTI Q4 2024: Strong Leadership, But Can It Sustain Momentum?
NEW YORK–Green Thumb Industries (GTI) has once again demonstrated why it remains a leader in the U.S. cannabis industry. With a steady growth trajectory and disciplined financial management, the company continues to post strong results ...
Analysis: Movers and Shakers: Cannabis Quarterly Earnings
NEW YORK - Cannabis companies are reporting earnings from Q4 2024 and full year results. Here are just some of the results from the companies we are covering at HCN, in both cannabis and psychedelics: ...
Verano Holdings Reports 2024 Financial Results and Outlines 2025
LOS ANGELES- Verano Holdings Corp., a multi-state cannabis operator, has released its financial results for the fourth quarter and full year ending December 31, 2024, highlighting a decrease in revenue and an increase in net ...
Trulieve Reports Strong Fourth Quarter Performance
LOS ANGELES- Trulieve Cannabis Corp., a multi-state cannabis operator, has announced its financial results for the fourth quarter and full year ending December 31, 2024, showcasing notable growth and operational efficiency. Financial Highlights Revenue: The ...
Solvonis Therapeutics to Acquire Awakn Life Sciences in Strategic Biotech Merger
LOS ANGELES- Solvonis Therapeutics PLC, a UK-based biotechnology firm specializing in treatments for mental health and substance use disorders, has entered into an agreement to acquire Awakn Life Sciences Corp., a Toronto-based company developing therapeutics ...
Compass Pathways Projects FY2025 Net Cash Use of $120M-$145M
LOS ANGELES- Compass Pathways plc a mental health care company specializing in psilocybin therapy, has announced an expected net cash utilization of $120 million to $145 million for the fiscal year 2025. As of February ...
Cronos Group Reports $8.7 Million in Operating Expense Savings for FY2024
LOS ANGELES- Cronos Group Inc. has announced operating expense savings of $8.7 million for the fiscal year 2024, aligning with its previously stated target range of $5 million to $10 million. These savings were primarily ...
Minnesota Considers Allowing Liquor Wholesalers to Distribute Low-Potency Hemp Edibles
LOS ANGELES -A bipartisan bill introduced in the Minnesota House of Representatives seeks to permit licensed liquor wholesalers to distribute low-potency hemp edibles. Sponsored by Representatives Zack Stephenson (D) and Nolan West (R), House File ...
New Study Suggests Medical Cannabis Highly Cost-Effective Treatment for PTSD
LOS ANGELES-A recent study highlights the affordability and effectiveness of medical cannabis as a treatment for individuals with moderate post-traumatic stress disorder (PTSD). Conducted by researchers at Leafwell, the study suggests that medical cannabis could ...
Emerging Policies Reshape the Psychedelics Industry
LOS ANGELES- The psychedelics sector is undergoing significant transformations due to evolving regulatory policies and scientific advancements that could redefine their therapeutic applications. A notable development occurred in August 2024 when the U.S. Food and ...
Arizona’s Cannabis Sales Experience Downturn in 2024
LOS ANGELES- In 2024, Arizona's combined medical and adult-use cannabis market saw a decline, with total sales amounting to $1.1 billion, a decrease from the nearly $1.3 billion recorded in both 2022 and 2023. The ...
New Jersey Governor Proposes Increase to Cannabis Social Equity Tax
LOS ANGELES- Governor Phil Murphy has proposed raising New Jersey's social equity excise fee on cannabis from $2.50 to $15 per ounce. This proposal aims to generate additional revenue for social service and violence intervention ...
Industrial Hemp Regulation Undergoing Comprehensive Review
LOS ANGELES- The regulatory framework governing industrial hemp is currently under extensive review, aiming to address emerging challenges and align with evolving industry practices. This initiative seeks to refine existing policies to better support the ...
Cannara Biotech Extends BMO Credit Facility and Convertible Debenture to Strengthen Financial Position
LOS ANGELES- Cannara Biotech Inc. has announced the extension and amendment of its existing credit agreement with the Bank of Montreal (BMO) and a convertible debenture with Olymbec Investments Inc. These strategic financial adjustments aim ...
NYC Sheriff Files Lawsuit Against Home Contractors Over Alleged Permit Violations
LOS ANGELES- New York City Sheriff Anthony Miranda, known for his enforcement actions against unlicensed cannabis dispensaries, has initiated a $350,000 lawsuit against home contractors for allegedly failing to secure necessary permits during renovations of ...
Sà Wea: Pioneering African Heritage and E-Commerce Innovation in the Luxury Cannabis Industry
LOS ANGELES — In the cannabis industry, often lacking cultural diversity and unique storytelling, Sà Wea Luxury Inc. stands out as the first luxury cannabis lifestyle brand to integrate African heritage into its identity. Founded ...
Bright Green Corporation Completes Restructuring, Exits Cannabis Sector
LOS ANGELES- Bright Green Corporation has finalized its restructuring plan, marking a strategic shift from the cannabis industry to the production of all U.S. Drug Enforcement Administration (DEA) scheduled controlled substances. This decision includes an ...
Pennsylvania Lawmakers Propose State-Run Dispensaries for Recreational Cannabis Sales
LOS ANGELES- In a move toward legalizing recreational cannabis, Pennsylvania legislators have introduced proposals to establish state-owned dispensaries, mirroring the state's existing model for alcohol sales. State Representatives Dan Frankel and Rick Krajewski advocate for ...
Florida Republican Lawmakers Propose Expansion of Medical Cannabis Access
LOS ANGELES- In recent legislative developments, certain Republican lawmakers in Florida have introduced bills aimed at broadening access to medical cannabis within the state. Notably, these proposals include provisions that would permit qualified medical cannabis ...
Maryland House Committee Advances Bill to Exempt Certain Cannabis Transactions from State Sales Tax
LOS ANGELES- The Maryland House Ways and Means Committee approved House Bill 619, legislation designed to exempt specific cannabis-related transactions from the state's sales and use tax. The bill, introduced on January 23, 2025, seeks ...
Federal Indictment Uncovers Extensive Illegal Cannabis Operation on Navajo Nation
LOS ANGELES- A federal grand jury indicted Dineh Benally, 48; his father, Donald Benally, 74; and business associate Irving Rea Yui Lin, 73, on charges related to an illicit cannabis cultivation enterprise spanning New Mexico ...
Michigan Allocates Nearly $100 Million in Cannabis Tax Revenue to Local Entities
LOS ANGELES- The Michigan Department of Treasury announced the distribution of close to $100 million in cannabis tax revenue to 302 local entities, including cities, villages, townships, counties, and, for the first time, four federally ...
Washington State Senate Committee Advances Cannabis Direct Sales Bill
LOS ANGELES- The Washington State Senate Labor and Commerce Committee held a public hearing on Senate Bill 5403, legislation proposing to allow licensed cannabis producers and processors to sell cannabis flower directly to consumers. The ...
New Hampshire House Approves Limited Cannabis Legalization Bill
LOS ANGELES- The New Hampshire House of Representatives passed House Bill 75, a Republican-sponsored measure that legalizes the personal use and possession of cannabis for adults aged 21 and over. The bill, introduced by Representative ...
Colorado Issues Initial Psilocybin Business Licenses
LOS ANGELES- In January 2025, Colorado began accepting applications for psilocybin-related business licenses, following the approval of regulations by the Department of Regulatory Agencies and the Department of Revenue. These licenses encompass roles such as ...
