Canadian cannabis operator Canopy Growth Corp. made an early payment to reduce a loan term by $100 million (roughly 138.5 million Canadian dollars). The prepayment enables Canopy Growth to reduce its debt at a discounted price of $97.5 million and results in annualized interest savings of about $14 million, according to a news release. The […]
Adult-use marijuana sales in Illinois were down a little more than 2% in September compared to the same month last year, even though businesses sold more than $1 billion worth of marijuana faster than they have in previous years. Sales of adult-use products totaled $136.5 million last month, compared with $139.5 million in September 2023, […]
Financial institutions that serve licensed marijuana businesses in Delaware will be protected from state-level prosecution under a bill that Delaware’s governor recently signed into law. The new law – which Gov. John Carney signed Oct. 9 – protects banks, credit unions, armored-car services and accounting firms from state prosecution for working with regulated cannabis operators. […]
Cannabis sales in Ontario, Canada, surged during the first half of the year, with licensed retailers selling 21% more marijuana by volume than they did during the same period last year. According to a report from the Ontario Cannabis Store (OCS), the government-owned marijuana wholesaler shipped 50.2 million units of regulated products to retailers in […]
New York City has launched a low-interest loan program designed to provide affordable capital to licensed cannabis social equity retailers. A total of $2 million is available in the first phase of the Cannabis NYC Loan Fund, which might have one or more application cycles, depending on how many businesses apply. Three-year loans of up […]
Total cannabis sales in Connecticut dropped 12% in September, according to recently released data. Recreational and medical marijuana sales declined from a $25.6 million in August to $23.4 million in September, according to the state’s Department of Health and Human Services. Adult-use sales fell 7.6%, from $18 million in August to $16.6 million in September. […]
San Diego-based marijuana operator StateHouse Holdings has entered bankruptcy in Canada after its main lender asked that the company be placed in a receivership. The move comes after Pelorus Fund REIT, a private mortgage real estate investment trust and StateHouse’s largest lender, asked a California court in September to place StateHouse in receivership after the […]
Medical marijuana company IM Cannabis Corp. is planning a non-brokered private placement offering of up to $1.6 million through the sale of about 625,000 units. The company, which operates in Israel and Germany, said in a news release it plans to use the proceeds from the offering to repay a loan that A.D.I. Car Alarms […]
(This story was updated at 10:35 a.m. Oct. 11 with Bedrocan declining comment.) Medical marijuana producer Bedrocan International is returning to the Canadian market through the purchase of a facility in Scarborough, Ontario. Health Canada recently granted the Veendam, Netherlands-based company a cultivation license to grow standardized medical cannabis for Canadian patients, according to a […]
Florida cannabis businesses began shutting down this week in anticipation of Hurricane Milton, which was expected to make landfall late Wednesday on the state’s west coast. Milton’s wrath didn’t sway Florida Gov. Ron DeSantis to extend the Oct. 7 deadline to register to vote in the Nov. 5 election. In addition to casting votes for […]
