The President’s May 16 announcement is being touted as an important and historic first step, but many industry constituents say there’s still a long way to go, with social justice at the heart of pushes for decriminalization. Here are reactions from cannabis business executives, industry organizations, lawyers and members of …
As Predicted, 4/20 Sales Surged During Cannabis Industry Holiday Weekend
Sales on both Friday and Saturday were up significantly, and retailers offered higher discounts to entice customers when compared to previous years. …
Michigan cracks down on marijuana processor over missing cartridges, untested product
This story was republished with permission from Crain’s Detroit and was written by Dustin Walsh. Missing cartridges, untested terpenes and unlabeled products. The Michigan Cannabis Regulatory Agency filed a formal complaint last week against Hazel Park marijuana processor Flavor Galaxy, alleging it is likely using illicit weed in its products. …
DEA 2024 Report Focuses on THC Potency, Organized Crime, Youth Edible Consumption
The federal agency’s National Drug Threat Assessment calls attention to how scheduled substances and trafficking trends are “endangering” the U.S. …
Tilray hopes to raise $250 million to buy U.S. assets
Tilray Brands, Inc. (NASDAQ: TLRY) announced that it has filed an offering for shares of its common stock to raise up to $250 million from time to time through an at-the-market equity program. Tilray said it plans to use any money raised by selling shares to potentially buy assets in …
Report: Massachusetts has too many cannabis licenses
A new report on Massachusetts marijuana licensing cautioned against unchecked expansion in cannabis retail and cultivation in the state, as both sectors face oversupply risks. The analysis by Whitney Economics examined licensing data across the state’s supply chain – from cultivators and product manufacturers to retail stores. It aimed to …
The Daily Hit: May 16, 2024
The Daily Hit is a recap of the top financial news stories for Thursday, May 16, 2024. On the Site Biden announces ‘monumental’ shift to formally reschedule marijuana President Joe Biden on Thursday confirmed that the Drug Enforcement Administration will be pursuing a proposed rule to reschedule marijuana, calling the …
Biden announces ‘monumental’ shift to formally reschedule marijuana
President Joe Biden on Thursday confirmed that the Drug Enforcement Administration will be pursuing a proposed rule to reschedule marijuana, calling the move “monumental” in a video posted to social media. “Today, my administration took a major step to reclassify marijuana from a Schedule I drug to a Schedule III …
Ziel Partners With Portocanna, Receives 1st EU GMP Certification for Microbial Control Technology in Cannabis
The radio frequency technology for the decontamination of cannabis flower provides cultivators and processors a microbial control step for their operations. …
Washington D.C. cannabis gray market transition, crackdown continuing
An ongoing expansion of the Washington, D.C. medical marijuana market that’s intended to legitimize many of the district’s longstanding “gifting” operators is still very much underway, along with a parallel crackdown on gray market marijuana shops that have not made any attempt to obtain city business licenses. The crackdown began …
cbdMD loss widens as sales slump in the second quarter
North Carolina-based cbdMD Inc. (NYSE: YCBD) reported a wider loss for its fiscal second quarter ending March 31, as sales slumped and the company recorded certain one-time charges. The hemp company posted a net loss of $4 million, or $1.35 per share, versus a loss of $2.3 million, or $1.74 …
Analysis: Adult-Use Cannabis Markets Generate Over $20 Billion in State Tax Revenue
Retail cannabis sales generated the greatest amount of tax revenue in California, followed by Illinois, Washington, and Michigan. The post Analysis: Adult-Use Cannabis Markets Generate Over $20 Billion in State Tax Revenue appeared first on […]
Study: Patients With Multiple Sclerosis Report Quality of Life Improvements Following Cannabis Therapy
Patients reported sustained improvements in their physical and mental health following cannabis therapy. The post Study: Patients With Multiple Sclerosis Report Quality of Life Improvements Following Cannabis Therapy appeared first on NORML.
White House Moves to Reschedule Cannabis in ‘Monumental’ Decision, Biden Says
The Department of Justice will issue a notice of proposed rulemaking to reclassify cannabis in the Federal Register, which will be followed by a 60-day public comment period prior to the department potentially finalizing the rule. …
Ohio: Officials Finalize Plans for Retail Marijuana Sales Launch
State regulators are anticipated to begin accepting licensing applications in early June. The post Ohio: Officials Finalize Plans for Retail Marijuana Sales Launch appeared first on NORML.
5 Things to Confirm When Signing a Cannabis Facility Construction Agreement
From agreement type to financing to scope of work, here are details to iron out when vetting construction companies. …
Nature’s Miracle closer to snapping up struggling Agrify
Nature’s Miracle Holding Inc. (NASDAQ: NMHI) and Agrify Corporation (Nasdaq: AGFY) are merging in an all-stock deal that will see the California-based indoor farming tech company acquire its smaller, cash-strapped rival at an equity valuation of around $6.4 million. Under the terms of the definitive merger agreement announced Thursday, Nature’s …
Cresco Labs warns of initial supply hiccups ahead of Ohio launch
With Ohio poised to begin issuing the first of its adult-use licenses next month, several cannabis operators are preparing to become an early player in the new state market. However, one of the largest multistate cannabis operators is warning that the accelerated timeline could lead to supply shortages out of …
Gold Flora reports $13.7 million quarterly loss to open 2024
California-based Gold Flora Corp. (Cboe Canada: GRAM), formerly The Parent Company, posted a $13.7 million loss for the first quarter of the year, to follow up its $42.7 million annual loss in 2023. Revenue was up 13% sequentially to $32.2 million, including $26.9 million in retail revenue and another $5.2 …