New York is poised to legalize a nearly $2.5 billion-a-year recreational cannabis market after legislative leaders on Wednesday agreed on the program’s framework with Gov. Andrew Cuomo. Retail sales could begin as soon as a year after the legislation i…
New York Medical Cannabis Business & Marijuana Legal News
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…
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…
Lawsuit casts spotlight on New York’s initial medical cannabis licensing, questions scoring
A new lawsuit sheds light on New York’s licensing of 10 medical cannabis operators in 2015 and 2016, raising questions about how regulators scored the applications and whether other unsuccessful applicants could raise their own legal objections. …
Five state medical marijuana markets that could get a boost through reforms in 2021
A handful of states could pass significant medical marijuana reforms this year, providing for additional licensing opportunities and potentially hundreds of millions of dollars in new sales for existing operators and ancillary services. Here’s a …
NCIA: High recreational marijuana taxes in New York could hurt legal market
A marijuana industry official cautioned New York officials that recreational marijuana taxes need to be low enough to curtail illicit sales. New York Gov. Andrew Cuomo unveiled more details this week about his recreational marijuana legalization plan, …
New York appears better positioned to legalize $2 billion-plus recreational marijuana market
Facing massive budget woes and legalization in neighboring New Jersey, politicians in New York are set to take another crack at legalizing a recreational marijuana market that could generate more than $2 billion in sales – and this time, the odds…
Edibles outperform cannabis industry growth in 2020 on COVID-spurred sales surge
Cannabis edibles sales grew at a rate exceeding the overall growth of the marijuana industry in 2020, prompting manufacturers to invest in research and development and new product lines for 2021.
Edibles outperform cannabis industry growth in 2020 on C…
Columbia Care to acquire San Diego marijuana retailer for $15 million
New York-based multistate marijuana operator Columbia Care announced Thursday it struck a deal to acquire Southern California cannabis dispensary The Healing Center San Diego for approximately $15 million.
Columbia Care to acquire San Diego marijuana r…
New York governor presses again for legalizing recreational cannabis
New York Gov. Andrew Cuomo said Wednesday he will push for the state to legalize a commercial recreational cannabis program that provides “equitable” licensing opportunities and “reflects national standards and emerging best practices.” Cuo…