Michigan Medical Cannabis Business & Marijuana Legal News – Page 3

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Marijuana MSO 4Front enters $30M sale-leaseback deal to pay down debt

Multistate operator 4Front Ventures is utilizing a $30 million sale-leaseback transaction to rid itself of debt to a corporate lender, the company said. The all-cash deal with California-based Innovative Industrial Properties (IIP) involves the sale of…

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Detroit sets plans for recreational cannabis sales

Officials in Detroit, Michigan’s largest city, finally announced the rules for allowing licensed adult-use marijuana sales with an effort toward giving social equity applicants a leg up in the market. The Detroit Metro Times reported that the Cit…

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New $102 million equity fund targets ancillary cannabis businesses

Pennsylvania-based Intrinsic Capital Partners said it raised $102 million in a fund that will invest in science and technology businesses focused on the legal marijuana and hemp industries. “We believe this is . . . a rare opportunity to invest in a sp…

Group inks $182.8M of cannabis deals in bid to become publicly traded REIT

A New York-based limited partnership said it has entered binding agreements to acquire 15 marijuana-related properties in nine states for $182.8 million with the intention of becoming a leader in the cannabis real estate investment trust (REIT) sector….

Text-message ads from marijuana companies spur spam-related lawsuits

A legal and financial liability has emerged over the past two years threatening the coffers of marijuana businesses: class action lawsuits filed by recipients of unwanted text-message advertisements who allege they’re getting spammed with deals a…

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Michigan to allow first-time marijuana licensees to apply for adult-use permits

Michigan will open up recreational cannabis licensing opportunities to applicants who did not previously hold medical marijuana licenses starting in March. The move is expected to help the legal cannabis industry in the state compete economically with …

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Michigan completes phase-out of medical cannabis caregivers

Michigan regulators finished phasing out all medical marijuana caregivers as part of the state’s retail cannabis supply chain, leaving all responsibility for MJ production in the hands of licensed growers. According to Ann Arbor radio station WUO…

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Cannabis vape products with cutting agent recalled in Michigan

Michigan regulators recalled more than a dozen cannabis vape products sold in the Detroit area for containing a cutting agent linked to vaping-related lung illnesses. The state’s Marijuana Regulatory Agency issued a recall on vape pens that were …