The upcoming recreational marijuana market in Minnesota took another step toward launching this week, when the Office of Cannabis Management announced its intent to publish its first draft of industry regulations on Monday in the state register. That will kick off a 30-day public comment period, the OCM said in a press release, in which […]
Cannabis regulators in both Delaware and Minnesota announced their departures in the last few days, both at arguably inopportune times for their respective adult-use marijuana markets, which are yet to launch. In Delaware, Office of Marijuana Commissioner Robert Coupe will step down as both the head of the agency and from government work altogether in […]
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 […]
Instead of putting the finishing touches on their businesses in anticipation of Minnesota’s adult-use market launch early this year, cannabis license applicants instead face delays and uncertainty. But if entrepreneurs’ patience and capital lasts long enough to win a license and hold on until Minnesota’s recreational cannabis launch – now projected for early 2026 – […]
Minnesota cannabis regulators announced Wednesday they will abandon their initial social equity licensing lottery system and transition to a standard licensing process for both social equity and general applicants. The Office of Cannabis Management’s decision comes after a Ramsey County District Court judge stayed the planned Nov. 26 license lottery, which was intended to distribute […]
The Daily Hit is a recap of the top financial news stories for Monday, November 25, 2024. On the Site Creditor asks California court to appoint receiver for Gold Flora, citing ‘dire liquidity issues’ The request stems from debts purchased from the now-defunct cannabis distributor Herbl. Read more here. Minnesota judge delays cannabis license lottery […]
An anticipated lottery originally scheduled for Tuesday morning in Minnesota to determine initial cannabis business permit winners has been delayed indefinitely, after a state judge ruled in favor of several applicants who had filed suit against the state after being culled from the pool of lottery participants. “There’s no lottery tomorrow,” Ramsey County District Court […]
The Minnesota Office of Cannabis Management will hold its first lottery for recreational cannabis business permits on Tuesday, the agency announced just before the weekend, in an apparent move to fast-track the new market launch. The OCM lottery will be live-streamed on the agency’s YouTube page, the OCM said in a press release, and will […]
The Daily Hit is a recap of the top financial news stories for Wednesday, November 20, 2024. On the Site Village Farms, veterans group challenge DEA’s role in cannabis rescheduling The motion argues that the DEA has “stacked the deck” against rescheduling efforts. Read more here. FDA approves clinical trials for medical cannabis to treat […]
The Daily Hit is a recap of the top financial news stories for Tuesday, November 19, 2024. On the Site Weedmaps executives face another lawsuit over inflated metrics This latest lawsuit accuses certain board members and executives of failing in their fiduciary duties. Read more here. US Senate Ag Committee Chair introduces new farm bill […]
