Colorado Gov. Jared Polis signed a measure with initial funding of $4 million that will provide loans, grants and technical assistance to social equity marijuana licensees. Lawmakers previously passed the bill, SB21-111, by a vote of 19-15 in the Senat…
Cannabis Industry & Marijuana Business Briefs
West Virginia licenses medical cannabis testing lab
West Virginia regulators awarded a business license to a medical marijuana testing laboratory.
West Virginia licenses medical cannabis testing lab is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepre…
Colorado marijuana businesses provide THC products for MJ research
Two Colorado-based marijuana companies are teaming up with the University of Colorado Boulder to study the heath impacts of flower and infused edibles. Native Roots, a Denver-headquartered medical and adult-use cannabis retail chain of 20 stories, will…
Court battle over one of Virginia’s five medical cannabis licenses
Illinois-based PharmaCann has taken Virginia to court over a medical cannabis business license that the company claims is rightfully theirs, even though state officials have solicited new bids for the permit. PharmaCann’s suit requests that the a…
OK federal judge tosses marijuana residency suit, but issue unresolved
A federal judge in Oklahoma rejected a lawsuit challenging the state’s residency requirement for medical marijuana business owners, but the decision doesn’t resolve the issue. U.S. District Judge Stephen Friot based his March 17 decision on the federal…
Cannabis real estate financier AFC Gamma prices Nasdaq IPO at $119M
AFC Gamma, which offers real estate loans to legal marijuana companies, priced its initial public offering on the Nasdaq exchange to raise net proceeds of roughly $118.8 million before underwriting discounts, commissions and other expenses. According t…
MedMen raises CA$20 million to bankroll marijuana expansion in Florida
Financially strapped MedMen Enterprises said it raised 20 million Canadian dollars ($16 million) at CA40 cents a unit to fund growth plans in Florida’s medical marijuana market. The California-based multistate operator said that under the private…
Cannabis MSO Cresco expands in Massachusetts via $90M acquisition
Chicago-based cannabis multistate operator Cresco Labs is spending $90 million to acquire all the outstanding equity interests of vertically integrated Massachusetts operator Cultivate. According to a news release, Cresco is paying $15 million in cash …
Ontario, Alberta lead Canadian cannabis sales drop in January
Retail sales of adult-use cannabis products in Canada declined to 282.8 million Canadian dollars ($225 million) in January, 5.6% lower than a month earlier, according to the latest Statistics Canada data. Sales fell in every province and territory. Alb…
New Brunswick won’t privatize recreational cannabis sales
New Brunswick has discontinued the request for proposal (RFP) process for the privatization of recreational cannabis sales, meaning the province will retain the government-owned-and-operated store model through Cannabis NB. New Brunswick requested prop…