New Mexico lawmakers postponed a Senate floor vote on a recreational marijuana legalization bill as the regular legislative session ended Saturday, but the measure may be headed to a special session. Lawmakers didn’t make the Saturday noon deadline for…
United States Cannabis Industry & Marijuana Business News
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 …
Why cannabis producer Organigram struck a CA$220 million deal with a tobacco giant: Q&A with CEO Greg Engel
While rival Canadian cannabis producers plowed massive amounts of capital into cultivation infrastructure, losing billions of dollars in the process, New Brunswick-based Organigram forged a different path. Organigram – which trades on the Nasdaq …
$1.9 trillion coronavirus stimulus package offers marijuana-related firms more options for financial help
Cannabis-related firms again face hurdles in qualifying for financial relief under the newly enacted $1.9 trillion coronavirus stimulus package, but the door has opened wider for hard-hit companies, especially small and economically disadvantaged busin…
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…
US House will again consider cannabis banking reform
A cannabis banking reform bill was reintroduced in the U.S. House of Representatives on Thursday, according to congressional staffers.
US House will again consider cannabis banking reform is a post from: Marijuana Business Daily: Financial, Legal &…