Colorado-based marijuana operator Green Dragon is calling it quits. The company notified the Colorado Department of Labor and Employment last week that it plans to lay off all 59 employees at the 92,000-square-foot grow facility in Denver it’s shuttering by the end of the year. Green Dragon said it plans to close all 17 of […]
A rebate program aimed at encouraging indoor farmers – those growing cannabis and other crops – to switch to LED lights proved so popular that Minneapolis-based utility company Xcel Energy ran out of money to pay for it. The funding shortfall has left cannabis ancillary companies such as Scynce LED on the hook for hundreds […]
Delaware on Thursday awarded the state’s first adult-use marijuana licenses to cultivators and manufacturers via a lottery. Of the 1,260-plus license applications, 727 made it to the Office of the Marijuana Commission’s lottery, which the agency hosted on Facebook Live. Delaware’s 13 existing medical marijuana dispensaries already applied for and were awarded adult-use licenses, which […]
Minnesota’s recreational marijuana market is on track to launch in 2025, even as some potential businesses say they’re concerned that the process is taking too long. The state’s Office of Cannabis Management (OCM), created under the 2023 law approving adult-use marijuana, has the first draft of the rules, providing more direction about how businesses will […]
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. […]
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 […]
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TerrAscend Corp., a Canadian-headquartered marijuana multistate operator with U.S. assets, said it withdrew $26 million from its $140 million loan to pay off higher-interest debt it holds in Michigan. An initial $114 million disbursement from the senior secured term loan was used in August to pay TerrAscend’s debt related to its Pennsylvania operations. The remainder […]
