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…
Illinois Medical Cannabis Business & Marijuana Legal News
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 …
Marijuana real estate merger creates firm worth $435 million in assets, cash
Chicago-based NewLake Capital Partners and GreenAcreage Real Estate, a real estate investment trust (REIT) in New York have announced the closing of a merger that creates a massive cannabis real estate company.
Marijuana real estate merger creates firm…
4Front eyes Illinois expansion through $51.5M marijuana sale-leaseback deal
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…
How ‘essential’ transformed the US marijuana industry amid the COVID-19 pandemic
During the tumultuous weeks and months of the past year, a nine-letter word emerged as a game changer for the nation’s legal marijuana industry: “essential.” It began about a week after the World Health Organization on March 11 declar…
Verano accused in lawsuit of illegal interstate marijuana trafficking
Illinois-based multistate operator Verano Holdings is accused in a lawsuit of illegally shuttling marijuana from its home state to Arkansas. According to the Chicago Sun-Times, the allegations of illegal interstate marijuana shipments stem from cannabi…
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…
Cannabis MSO Green Thumb Industries raises $56 million in US share sale
Chicago-based multistate cannabis operator Green Thumb Industries raised roughly $56 million from selling shares in the United States. Green Thumb (GTI) accepted offers to purchase 1.6 million subordinate voting shares for $35.50 per share. The sale is…
Mainstream businesses are bracing for minimum-wage hike, but many cannabis firms already pay more
Half the states across the country have increased – or will raise – the minimum wage paid to hourly workers this year, but many cannabis businesses, including retailers, are unlikely to feel much of an impact. That’s because most say they a…