Cannabis producer Tilray cut its annual loss to $271 million for 2020, an improvement from the Nanaimo, British Columbia company’s $321 million loss in 2019, according to the full-year and fourth-quarter results released Wednesday. Tilray, which is on …
Cannabis Industry & Marijuana Business Briefs
Report: Ex-Eaze CEO to be charged in cannabis payment-processing scheme
Federal prosecutors reportedly plan to charge a former CEO of California cannabis delivery platform Eaze in connection with a case accusing two businessmen of deceiving banks into processing $100 million worth of credit and debit payments for marijuana…
Biden’s DOJ lawyers take IRS side in marijuana firm’s 280E fight
The Biden administration has weighed in on a U.S. Supreme Court marijuana petition, arguing that state-legal cannabis businesses can be investigated by the Internal Revenue Service for potential violations of Section 280E of the tax code. It is believe…
Cannabis firm Agrify prices share offering to raise $75 million
Ancillary cannabis company Agrify priced an underwritten public offering to raise $75 million, less than a month after raising $54 million in an initial public offering. The Massachusetts-based developer of indoor agriculture technology will sell rough…
JW Asset, ex-athlete launch $100M fund for marijuana minority businesses
New York fund manager JW Asset Management is teaming up with former NBA All-Star Chris Webber to launch a planned $100 million private equity fund that will invest in underrepresented marijuana entrepreneurs. A spokeswoman said $100 million is the fund…
Tuatara-backed SPAC raises $175 million to target cannabis acquisitions
Tuatara Capital Acquisition, a cannabis-focused special purpose acquisition company (SPAC), said it raised $175 million in an initial public stock offering with an option for its underwriters to purchase and sell an additional $26.3 million worth of se…
Ontario accelerates cannabis store licensing to 120 per month
The cannabis store regulator in Canada’s single largest recreational marijuana market has once again increased the pace at which it issues store licenses, from 20 per week to 30 per week. The change took effect Tuesday, said the Alcohol and Gamin…
Canadian marijuana retailer Fire & Flower seeks Nasdaq listing
Fire & Flower Holdings, a Canadian cannabis retail chain with an eye on international growth, has applied to list its shares on the Nasdaq exchange in the United States. “The company anticipates that the Nasdaq listing will assist in attracti…
Maine recreational cannabis sales booming; new testing lab opens
A maturing recreational cannabis market in Maine is driving higher sales and lower prices – and consumers are spending more. Maine’s 15 licensed adult-use retailers conducted 33,521 transactions worth $2.47 million in sales in January alone, the …
Oklahoma medical marijuana sales surpass $800 million for 2020
Medical marijuana sales in Oklahoma reached more than $800 million for 2020, more than twice that of 2019.
Oklahoma medical marijuana sales surpass $800 million for 2020 is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness new…