The top marijuana regulators in two states on the verge of launching adult-use sales are stepping down. Delaware Marijuana Commissioner Rob Coupe is leaving his post only weeks after the state distributed 15 recreational marijuana retail licenses through a lottery that had more than 500 applicants. And Charlene Briner, interim director of Minnesota’s Office of […]
A Michigan circuit court has appointed a receiver for the assets of PharmaCo, a property of Canada-based cannabis multistate operator Red White & Bloom Brands. PharmaCo, which was acquired in February 2022 by Red White & Bloom subsidiary RWB Michigan, has operated licensed medical and adult-use marijuana stores and conducted limited cultivation in Michigan. Circuit […]
Cannabis industry finance company SHF Holdings, doing business as Safe Harbor Financial, has eliminated $1.2 million of indemnity liability through a four-year extension and modification of its agreement with Partner Colorado Credit Union. The eradicated indemnity liability, which was on the company’s balance sheet as of Sept. 30, went into effect Jan. 1, 2025, according […]
The U.S. Drug Enforcement Administration rejected a September request from Colorado officials to participate in the United States’ historic marijuana rescheduling process. That’s one example of the “bias” that should disqualify the agency from overseeing the hearings, according to claims made in a filing submitted Monday to the DEA’s chief administrative law judge, John Mulrooney II. […]
Ohio recreational cannabis retailers recorded $242.2 million in sales in 2024 – only five months after the state launched its adult-use market. The state’s adult-use operators sold 4 million-plus units of manufactured products and 32,487 pounds of plant material sold through Dec. 28, the Ohio Capital Journal reported, citing data from the Department of Commerce […]
Canopy USA, the American-based holding company of Canadian marijuana operator Canopy Growth Corp., has appointed M. Brooks Jorgensen as the fledgling entity’s first president. Jorgensen, a cannabis and alcohol beverage industry executive with more than 25 years of experience, will focus on driving profitable growth across the United States for Canopy USA, according to a […]
Cannabis multistate operator Vireo Growth raised $6 million more than it hoped for in a private placement offering that closed Dec. 30. The Minneapolis-based company initially planned a $75 million equity raise but instead raised about $81 million, according to a news release. Vireo plans to use net proceeds from the offering for business development […]
Marijuana multistate operator iAnthus Capital Holdings is buying Illinois vape brand Cheetah Enterprises in an all-stock deal valued at $1.5 million. The acquisition is key to iAnthus’ “ongoing strategy to elevate its portfolio” of marijuana brands and “drive long-term growth,” the company said in a news release. Cheetah, based in Chicago, offers premium live resin […]
Marijuana multistate operator Standard Wellness Holdings has secured a $10 million credit facility. The 10-year term loan, which amortizes over 20 years with a 9.25% interest rate, will support the Ohio-based company’s growth and operational expansion, according to a news release. The loan also allowed Standard Wellness to repay some higher-cost debt that carries a […]
Marijuana software company Distru raised $6 million in a Series A funding round led by Poseidon Investment Management. The funding will be used to expand Oakland, California-based Distru’s product offerings, enhance compliance inventory, integration and order-management capabilities, according to a news release. The raise also will enable the company to expand its integration with Florida-headquartered […]
