A San Francisco Bay Area marijuana testing lab whose business license was revoked earlier this month filed suit against California regulators, claiming its right to due process was violated because there’s no appeals process. According to the law…
Cannabis Industry & Marijuana Business Briefs
Ascend acquires most of MedMen’s NY cannabis operation for $63 million
Massachusetts-based Ascend Wellness Holdings is acquiring an 86.7% interest in financially strapped MedMen Enterprise’s cannabis operation in New York for $63 million, according to a definitive agreement announced Friday. Multistate operator Ascend Wel…
Moldy cannabis gummies, mislabeled pre-rolls recalled in Canada
Regulated Canadian cannabis products recalled in February include potentially moldy THC-infused edibles, plus two different instances of pre-rolled joints with incorrect cannabinoid labeling. The edibles recall involves one lot of strawberry-flavored T…
Cannabis producer Cronos loses $111.7 million in fourth quarter
Canadian cannabis producer Cronos Group reported a quarterly loss of $111.7 million and an adjusted EBITDA of negative $53.1 million, according to the full-year and fourth-quarter results released Friday, well below analyst expectations. However, Crono…
New Jersey fills remaining slots on marijuana oversight commission
New Jersey Gov. Phil Murphy moved quickly to complete the five-member Cannabis Regulatory Commission, only two days after signing adult-use marijuana implementation legislation into law. State regulators now have 180 days from the bill’s enactmen…
Indus acquires fellow California cannabis firm Lowell Herb Co. for $39 million
Indus Holdings said it has acquired another well-known California marijuana brand, Lowell Herb Co., in a cash-and-stock deal worth $39 million. The terms of the acquisition include $4.1 million in cash along with 22.6 million shares of Indus, which tra…
Acreage selling Florida marijuana arm to Red White & Bloom for $60 million
Multistate marijuana operator Acreage Holdings said it has a definitive agreement to sell its medical cannabis operation in Florida to Red White & Bloom Brands for $60 million in cash and stock. The deal reflects a further retrenchment by New York-…
Massachusetts extends medical cannabis telehealth sign-ups
Massachusetts health-care providers may continue registering new medical cannabis patients via telehealth appointments instead of in-person visits, state regulators announced, citing the risk of exposure to the COVID-19 virus. The state initially allow…
Marijuana trimming machine maker sues Border Patrol for impeding parts
A company that produces agricultural equipment for marijuana and hemp businesses filed a lawsuit in Seattle charging the U.S. Customs and Border Protection with wrongly impeding imports from Canada of components needed by its Washington state subsidiar…
Sales of Canadian cannabis edibles, extracts fall for first time
Canadians purchased fewer cannabis edibles and extracts last November compared to the previous month, new Health Canada data shows, ending at least 11 consecutive months of growth for the categories. In November, roughly 1.52 million packages of edible…