Cannabis banking reform will have to wait. Such reform isn’t included in the 5,593-page, $900 billion coronavirus relief bill being considered Monday in the U.S. Congress, even though it was part of the initial U.S. House relief measure. But ther…
Author: Kate Robertson
Maine medical marijuana operator sues over MMJ residency requirement
Maine’s leading medical marijuana operator is challenging the state’s MMJ residency requirement, seven months after suing and getting the state to back off a similar provision for adult use. Wellness Connection of Maine on Dec. 17 filed a lawsuit in U….
Marijuana MSO MedMen fights to turn around finances, but challenges linger
Financially strapped MedMen Enterprises is showing modest improvement, raising the possibility that the California-based multistate marijuana operator has hit bottom and is beginning to benefit from its restructuring and turnaround plan. But huge chall…
Cannabis MSO 4Front nets $33 million from sale-leaseback deal
Cannabis multistate operator 4Front Ventures said it has completed a sale-leaseback of cultivation and production facilities in Massachusetts and Washington state, generating $33 million to pay down debt and for general purposes. The deal is just the l…
New Jersey lawmakers pass bill to regulate biggest East Coast recreational marijuana market
New Jersey lawmakers on Thursday approved legislation to regulate and launch an adult-use marijuana market next year that’s expected to become the largest on the East Coast with sales approaching $1 billion in a few years.
New Jersey lawmakers pass bil…
Pennsylvania marijuana investor sues Missouri over residency rule
A Pennsylvania man has sued Missouri medical marijuana regulators, declaring that the state’s residency requirement violates the U.S. Constitution and stifles investment in the industry. The lawsuit, filed last week in U.S. District Court in western Mi…
Marijuana firm Verano plans to go public at reported $2.9 billion valuation
Multistate marijuana company Verano Holdings intends to go public on the Canadian Securities Exchange at a value of nearly $2.9 billion through a reverse takeover (RTO) of an existing, publicly held company, according to reports. The move comes only a …
A dozen retail cannabis licenses could be up for grabs in Arizona
While most adult-use cannabis licenses in Arizona will go to the roughly 120 existing medical marijuana operators in the state, about a dozen will be available in underserved rural counties. That’s according to state regulators, who also said the…
Marijuana MSO Ayr Strategies increases capital raise to $110 million
Multistate marijuana operator Ayr Strategies announced that it has increased a $75 million debt offering to $110 million because of strong demand. The funding reflects a further loosening of capital markets for marijuana companies with operations in hi…
New Mexico’s medical marijuana sales rise as prospects for recreational legalization improve
New Mexico’s medical marijuana sales have nearly doubled in the past two years despite strict plant-count limits, and the state might be better positioned to legalize recreational cannabis after neighboring Arizona did so last month. Marijuana Business…