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MedMen raises CA$20 million to bankroll marijuana expansion in Florida

March 19th, 2021Financially 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 placement, each unit consists of one Class B subordinate voting share and one share purchase warrant that gives holders […]

Cannabis MSO Cresco expands in Massachusetts via $90M acquisition

March 19th, 2021Chicago-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 and $75 million in stock for Cultivate – plus potentially up to another $68 million in earnouts if certain financial […]

Marijuana real estate merger creates firm worth $435 million in assets, cash

March 18th, 2021Chicago-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 worth $435 million in assets, cash is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness […]

Canada to launch review of cannabis industry fee structure

March 18th, 2021Health Canada will soon embark on a review of fees collected by the federal government from cannabis companies, including studying the impact those fees have on the industry as well as the policy goals of legalization. “License holders will be engaged in this work over the coming months,” Health Canada spokeswoman Tammy Jarbeau told Marijuana […]

US House will again consider cannabis banking reform

March 18th, 2021A 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 & Cannabusiness news for cannabis entrepreneurs

Marijuana tech platform I Heart Jane suffers slowdown, affecting retailers

March 18th, 2021Marijuana e-commerce platform I Heart Jane suffered a slowdown on Wednesday that impacted an unknown number of recreational and medical cannabis retailers that rely on the software. I Heart Jane is used by at least 1,700 “dispensaries and brands across 33 state markets,” according to a December news release from software developer Jane Technologies. Moe […]

Canadian cannabis producer Canopy Growth borrows $750 million

March 18th, 2021Smiths Falls, Ontario-based cannabis producer Canopy Growth has taken out a senior secured loan worth $750 million ($932 million Canadian dollars) – with the possibility of borrowing $500 million more – in a deal with investment management firm King Street Capital Management. “This transaction further strengthens Canopy’s balance sheet, provides additional capital to invest in […]

Missouri revokes licenses of overdue medical cannabis operators

March 17th, 2021Missouri medical cannabis regulators are revoking the licenses of some businesses that haven’t met their one-year cutoffs to open and didn’t receive extensions. Permits revoked so far include a handful of marijuana manufacturing, transport and testing companies, according to the Springfield News-Leader, citing state records. A state official told the newspaper that the licenses revoked […]

Aphria, Tilray to host April shareholder meetings about planned merger

March 17th, 2021Aphria and Tilray will host special shareholder meetings next month on the proposed merger between the cannabis producers, the companies said. The meetings will be held via live audio webcast for Aphria and Tilray shareholders on April 14 and April 16, respectively. According to a news release, Aphria shareholders must vote their proxies before 4 […]

Regulators crack down on Michigan credit union’s marijuana banking

March 17th, 2021An independent federal agency cited a Michigan credit union for failing to comply with marijuana banking regulations and ordered the financial institution to stop opening new cannabis accounts. American Banker reported that the case involving Live Life Federal Credit Union is believed to be the first time U.S. regulators have publicly penalized a financial institution […]

How a year of COVID-19 forced positive change for cannabis retailers

March 17th, 2021Despite challenges such as rapid regulatory change, shifting public-health demands and economic uncertainty, cannabis retailers say the first year of the COVID-19 pandemic has driven beneficial changes to their business models and motivated regulators to permit new ways of serving customers. Those new services range from online ordering to home delivery and curbside pickup to […]

The three degrees of marijuana legalization in the United States

March 17th, 2021In America, well over nine out of 10 inhabitants live in a place where marijuana is legal to some degree. The three degrees of marijuana legalization in the United States is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs