An $850 million deal to buy Verano Holdings has been terminated, marking the second high-dollar acquisition of a Chicago marijuana company to fall through in less than a year. Phoenix-based Harvest Health & Recreation announced it planned buy Verano Holdings just over a year ago. The deal would have given Harvest the right to operate Verano’s cultivation […]
Industry News
Medical Marijuana Study Reveals A Major Flaw In Using THC For Pain
One in five Americans experiences chronic pain — a distressing reality that drives depression and opioid use. This widespread pain problem is sending people to medical cannabis dispensaries in droves, looking for relief. But according to a new study, which reviewed 8,505 cannabis products sold by 653 dispensaries across the United States, tetrahydrocannabinol, or THC, concentrations are often twice or even three times TOO HIGH FOR […]
Green Thumb Industries (GTI) Announces Fourth Quarter Revenue of $75.8 Million and Fourth Quarter Adjusted Operating EBITDA of $14.4 Million
PRESS RELEASE Full year revenue of $216.4 million Delivers on new store opening guidance for FY 2019 Kicks off 2020 with successful launch of Illinois adult-use cannabis market CHICAGO and VANCOUVER, British Columbia, March 26, 2020 (GLOBE NEWSWIRE) — Green Thumb Industries Inc. (“GTI” or the “Company”) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis […]
Surna Reports Q4 2019 and Full Year Results
PRESS RELEASE Announces $15.2 Million in 2019 Revenue and Downsizing of Operations in Response to Coronavirus Boulder, Colorado, March 24, 2020 (GLOBE NEWSWIRE) — Surna Inc. (OTCQB: SRNA) announced today operating and financial results for the three and 12 months ended December 31, 2019. Due to the unprecedented circumstances surrounding the COVID-19 virus and the uncertainty […]
How COVID-19 Force Majeure Claims May Wreck or Save Your Business
Following its rapid spread, on March 11, 2020 the World Health Organization declared coronavirus (“COVID-19”) to be a pandemic thereby potentially voiding every commercial contract via “force majeure” provisions and the common law doctrine of frustration (“Frustration Doctrine”). “Force majeure” events mirror “Acts of God” like floods that are outside of parties’ control and relieve […]
In fighting COVID-19, Colorado’s emergency rules affect medical cannabis differently than recreational
During this ongoing response to the COVID-19 public health crisis, cannabis dispensaries nationwide are changing how they do business, and Colorado’s dispensaries are no different. On March 20th the Marijuana Enforcement Division (the “MED”) implemented emergency rules to help Colorado cannabis dispensaries meet high demand while limiting customer time in the stores. But those rules […]
Managing People in the Growing Cannabis Industry
Being a chief people officer in the budding cannabis industry comes with unique challenges for Cresco’s Angie Demchenko. Angie Demchenko has an eye for business and a mind for people, and this mindset is immediately reflected in the environment of her new employer, Cresco Labs. The office, a chic, bright space in Chicago’s trendy River […]
Keeping Pace With Creative Compliance in the Fast-Moving Cannabis Space
Last year, when censors rejected a Super Bowl ad from cannabis brand Acreage Holdings, it was both a sign of cannabis’ mainstream emergence, and also an indication of America’s ongoing complicated relationship with the plant. Now, the political headwinds around legalization are starting to turn, and the cannabis industry has reached a critical point in […]
Global CBD Brand Elixonal Appoints New CEO Americas
PRESS RELEASE Westminster, Colo. (March 24, 2020) ─ Elixinol, a global hemp derived CBD brand, announced it has named Tom Siciliano as the organization’s new CEO Americas effective immediately. Siciliano is charged with leading Elixinol’s refined strategy on hemp derived CBD in the Americas region. “We are delighted to appoint a leader with Tom’s strategic, […]
Coronavirus: Medical marijuana dispensaries are called essential in Mass., but recreational pot shops must close under governor’s order
Starting tomorrow, only licensed medical marijuana retailers are allowed to sell cannabis products in Massachusetts for the next few weeks during the ongoing COVID-19 pandemic. Baker on Monday morning asked residents to stay at home as the respiratory illness continues to spread and ordered all non-essential businesses to close at noon on March 24 through […]
