The legislation could further the argument that cannabis has currently accepted medical use despite federal prohibition in the U.S. …
UC Asset buys remaining ownership of a cannabis property
UC Asset LP (OTCQB: UCASU) bought a $3 million cannabis property, which includes 1,550 square feet of office space and 16,500 square feet of cannabis cultivation space. UC Asset told investors that it previously owned 50% of the property, which it acquired in May 2023, paying $1 million cash and issuing $600,000 of preferred… …
Green Thumb Unveils 3rd Annual Social Impact Report
The cannabis company’s ‘Growing For Good’ program focused on community, inclusion, restorative justice and the environment. …
Cresco Labs’ Disciplined Strategy Drives Record Cash Flow in 2024 Financial Results
The cannabis company reported $132 million in operating cash flow for the full year, representing a 126% increase from 2023. …
California extends emergency intoxicating hemp ban
A California ban on intoxicating hemp products, such as THC-infused seltzers, that was set to expire at the end of March has been extended through the end of June, pending approval by one state agency. The ban, which was first established in September by Gov. Gavin Newsom after the state …
Pineapple Express to acquire Groovy Co. through stock trade deal
Georgia-based Pineapple Express Cannabis Co. (OTC PINK: PNXP) is set to acquire tech business Groovy Company Inc. (USOTC:SANP) through a stock trade deal, under which Pineapple will get 350 million shares of Groovy, and Groovy will get 5 million shares of Pineapple. The deal will give Pineapple Express a “controlling …
Grow America Builders Completes Construction of New Flowery Cannabis Dispensary on Upper West Side, NYC
The completion of the dispensary in Manhattan marks the national cannabis design-build construction firm’s sixth project in New York City. …
Tilray Medical Introduces High-THC, High-Terpene Genetics to German Market
The company launched Tilray Craft, a brand extension within its medical cannabis portfolio in Germany. …
Würk, C15 pair up for strategic partnership
Cannabis employee tech company Würk and tech firm C15 announced a strategic partnership through its shared investment firm Poseidon Investment Management. Würk’s products address employee payroll, human resources, timekeeping, scheduling, and tax compliance. It also tackles compliance issues and provides guidance on 280E tax law. C15 has a customized eQMS …
California’s 2nd Largest City to Hike Cannabis Tax 25% Amid $258M Deficit
San Diego City Council members approved a tax increase on cannabis retailers starting May 1 in hopes of closing the budget deficit. …
Bankrupt Revolutionary Clinics sues to get inventory returned
Massachusetts’ Revolutionary Clinics is suing to have its Albert Einstone Cannabis products returned to its inventory as the company attempts to settle its debts. Revolutionary Clinics entered receivership in December owing its primary lender $10 million and thousands more in unpaid rent. The beleaguered cannabis company claims that it manufactured …
Despite conservative victory, German cannabis executives remain bullish
Germany’s medical cannabis market is seeing unprecedented growth, with company executives across the pond reporting sales increases of up to 450% since recent reforms. However questions have arisen about the future of the market as a new conservative government prepares to take power. “The market is on a constant growth …
Blueberries raises C$1 million to expand operations
Latin American cannabis company Blueberries Medical Corp. (CSE: BBM) (OTC: BBRRF) announced a non-brokered private placement consisting of the sale of 96,064,935 common shares for C$0.011 per share for gross proceeds of approximately C$1.05 million (or approximately $740,000). The company said it would use the money to fund and expand operations …
Canadians are increasing cannabis consumption, as alcohol declines
Canadians are drinking less alcohol as consumption of cannabis rises, according to a new report released by Statistics Canada that tracked sales in the country from April 1, 2023, to March 31, 2024. While alcohol sales still dwarf cannabis sales, the trends are telling alcohol consumption is declining and cannabis is growing. …
Cresco Labs to Operate Kentucky’s Largest Medical Cannabis Cultivation License
The cannabis company will manage a facility with up to 25,000 square feet of canopy as one of two operators with a Tier 3 license. …
Incannex Healthcare announces $12.5 million offering
Incannex Healthcare Inc. (Nasdaq: IXHL) announced that it has raised $12.5 million to fund ongoing clinical trials. Incannex said the studies include completing the U.S. Phase 2 study of IHL-42X, an oral, once-daily treatment for sleep apnea, and its expansion into the Phase 3 portion of the study, with… Please …
New York cannabis trade group chief sounds alarm over financing barriers, price compression
The nascent legal New York recreational marijuana market – which launched in December 2022 – is on the financial brink, according to the president of one of the state’s larger cannabis trade organizations, who said a lot of license winners have been either flipping their permits or selling equity stakes… …
Michigan cannabis retailer looks to New Jersey amid price collapse
This article was reprinted with permission from Crain’s Detroit Business. Michigan marijuana retailer Quality Roots is looking to bloom in the Garden State as local legal market prices continue to wilt. Birmingham-based Quality Roots opened its Marlton, New Jersey, dispensary earlier this week, looking to capitalize on higher prices and …
Idaho Lawmakers Advance Resolution to Block Citizens From Voting on Cannabis Legalization
The House-passed resolution aims to amend the state’s constitution by rolling back the democratic process of citizen-initiated ballot measures. …
Georgia Senate greenlights hemp drinks ban, medical cannabis expansion
In a series of votes that defied typical partisan lines, the Georgia Senate has passed three bills that would simultaneously restrict recreational hemp products while expanding medical cannabis access. It came just before the Crossover Day deadline, when legislation must pass at least one chamber to remain viable this session, …