Marijuana multistate operator 4Front Ventures entered into definitive agreements to finance the construction of a massive $51.5 million cultivation and processing facility in Illinois through a sale-leaseback arrangement. The agreements call for San Di…
Author: Chris Roberts
SPAC to acquire four marijuana operations in $210 million deal
New York-based Greenrose Acquisition Corp., a special purpose acquisition company, entered into definitive agreements to acquire four marijuana businesses in a deal initially valued at $210 million. The companies to be acquired are Futureworks (doing b…
Ohio high court orders state to act on medical marijuana cultivation expansion
The Ohio Supreme Court told state regulators that they can’t just ignore applications to expand medical marijuana cultivation facilities. In an eight-page decision, Ohio’s highest court ordered regulators to either approve or deny Fire Rock’s app…
New Rhode Island governor pitches adult-use cannabis legalization plan
Rhode Island Gov. Dan McKee wants to legalize adult-use cannabis, proposing a program that would issue 25 retail licenses a year with a market launch in April 2022. McKee, a Democrat who included the proposal as part of his fiscal-year 2022 budget, is …
Efforts to stall South Dakota medical marijuana program fizzle
A voter-approved medical marijuana program likely will be implemented in South Dakota as scheduled after efforts to stymie the program failed. Gov. Kristi Noem and the majority of lawmakers from both chambers wanted to delay legalization and develop re…
Marijuana union organizing surging amid pandemic, uptick in labor peace requirements
Union organizing in the marijuana industry has been on the upswing in the past year amid the coronavirus pandemic, particularly in new and emerging adult-use markets such as Illinois, Massachusetts and New Jersey. Several factors are in play, according…
Schwazze completes $72.3M purchase of 13 Colorado cannabis stores
Schwazze, a Denver-based vertically integrated cannabis operator, said it has acquired the five remaining Star Buds retail outlets in Colorado for $72.3 million, including $27.5 million in cash. With the acquisition, Schwazze, formerly Medicine Man Tec…
MariMed secures $46 million in funding to expand marijuana footprint
Multistate marijuana operator MariMed said it has raised $46 million to support acquisitions and repay most of its long-term debt. Hadron Healthcare Fund is providing the capital, including an initial $23 million on March 2, in exchange for MariMed sto…
Cannabis MSO Verano to expand in 3 states via deals exceeding $100M
Cannabis multistate operator Verano Holdings announced agreements to acquire a total of nine operating retail outlets or licenses in Arizona, Illinois and Pennsylvania for nearly $100 million in cash and tens of millions of dollars more in stock. The t…
Marijuana MSO Cresco Labs files $1 billion shelf prospectus
Illinois-based marijuana multistate operator Cresco Labs filed a preliminary prospectus to raise up to $1 billion in securities over the next 25 months. Cresco is the latest cannabis company to file a large so-called shelf registration as the investmen…