Within hours of the Inauguration Day ceremonies, the National Alliance on Mental Illness (NAMI) issued a press release calling for the Biden administration to help Americans struggling with mental health exacerbated or brought on by pandemic. In NAMI’s words, the pandemic has brought about a surge in “mental health, substance abuse, and suicide challenges”. Recently […]
Industry News
Children’s Dutch Epilepsy Cannabis Medicines Will Be Made In The UK To Overcome Import Impasse
A PERMANENT solution to the import impasse on children’s epilepsy cannabis medication has emerged with the Dutch manufacturer set to see the medicines made in the UK. However, the Transvaal Pharmacy, which is based in the Hague, says this will not be in operation for at least a few months meaning a short-term solution still […]
Why a hands-on approach is essential in the cannabis retail industry
By Tatyana Parkanskaia To (mis)quote Mark Twain, the “Death of Retail” has been greatly exaggerated. Consider the explosion of cannabis retail stores throughout southwestern Ontario. Even with some businesses suffering and in dire circumstances due to COVID, cannabis stores are thriving. In some neighbourhoods in downtown Toronto, there are multiple new stores on every block, […]
Cresco Labs Hires PepsiCo Veteran and Supply Chain Expert Ty Gent as Its New Chief Operating Officer
PRESS RELEASE CHICAGO–(BUSINESS WIRE)– Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or “the Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced the hiring of CPG industry veteran Ty Gent as the Company’s new Chief Operating Officer (“COO”). As COO, Gent will be responsible for operational consistency and efficiency across markets […]
How Some THC Is Legal — For Now
Delta-8-THC — a less-potent cousin of famed Delta-9-THC — is legal enough to sell in most states. But how does it work? And will the DEA shut it down? According to the National Institute of Health (NIH), there are currently at least 144 known cannabinoids that have been isolated from the cannabis plant. The most popular among […]
Why GMP is the Future of Quality Control for the Global Industry
Good Manufacturing Practices, or GMP, are a systematic way of ensuring that products — from food to supplements to pharmaceuticals — are produced consistently according to established quality control standards. Essentially, GMP ensures a universal minimum standard of quality to protect consumers. For the sake of this article, we’ll focus on GMP in two major […]
The New Era of Carbon Negative Footprint Cannabis Cultivation
By Bill Shevlin California grows some of the best cannabis in the world. Unfortunately, cultivation can have not-so-green consequences. From unregulated guerilla grows in the Emerald Triangle, to indoor cultivation in cities like Los Angeles, there are often negative side effects for the environment. High energy consumption, water shortages and the endless wasteful packaging that’s […]
USADA ‘essentially’ eliminating marijuana use as UFC violation
The UFC has “essentially” struck marijuana as a punishable offense in its anti-doping policy, the promotion and anti-doping partner USADA said Thursday. Beginning retroactively Jan. 1, a positive drug test for carboxy-THC, the psychoactive ingredient in cannabis, will no longer be considered a violation — unless USADA is able to prove that an athlete intentionally […]
Bengal Capital Welcomes 4FRONT Ventures Josh Rosen
PRESS RELEASE Accomplished Cannabis Investment Team Adds Operations and Institutional Investing Experience January 14, 2021, Chicago, IL and Phoenix, AZ – Bengal Capital announced today that Josh Rosen, co-founder, former CEO and current Chairman of 4Front Ventures (CSE: FFNT), has joined the firm as a Managing Partner. “Bengal has been immersed in the cannabis industry […]
Perkins Coie Adds Director of Public Policy for National Cannabis Industry Association Andrew J. Kline as Senior Counsel
PRESS RELEASE DENVER (January 12, 2021) – Perkins Coie is pleased to announce that Andrew J. Kline has joined the firm in Denver as a senior counsel in the firm’s Commercial Litigation Practice and Cannabis Law Industry Group. Kline brings a rare combination of public policy, cannabis law, coalition building and prosecutorial expertise to the firm, following […]
Jushi Holdings Inc. Expands Retail Footprint in California
Press Release Signs definitive agreements to acquire an operating dispensary in Palm Springs and a retail license holder in Grover Beach Entered into a long-term lease agreement and plans to commence construction in Culver City BOCA RATON, Fla., Jan. 14, 2021 (GLOBE NEWSWIRE) — Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCMKTS: JUSHF), […]
Cresco Labs to Expand Into Florida Through Acquisition of Bluma Wellness Inc.
PRESS RELEASE The Company will now have meaningful operations in all 7 cannabis markets that fall within the top 10 most populated states in the U.S. CHICAGO – January 14, 2021 — Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco Labs” or “the Company”), one of the largest vertically integrated, multistate cannabis operators in the United States, and […]
Markets: US Stocks Surge With Democrats’ Victory, Columbia Care, Sativa Wellness, Cann Group et al…
by Peter McCusker WITH the Democrats in control of the White House, Senate and Congress Wall Street now beckons for America’s cannabis industry. Stock prices moved ahead rapidly in the last week following the Georgia state run-off which tipped the Senate into Democrat hands. The closely-followed new New Cannabis Ventures Global Cannabis Stock Index rose […]
Oregon Cannabis: What is My Partial Marijuana Dispensary Ownership Interest Worth?
by Jesse Mondry A couple of months ago, my colleague Vince Sliwoski wrote Oregon Cannabis Dispensary Sales: What We Are Seeing on Valuation, which focused on the secondary market for cannabis licenses and businesses. Vince explained that the retail market, i.e. the purchase and sale of dispensaries, is still mostly done on multiples of revenue. […]
CANNABIS CRYSTAL BALL: What Lies Ahead for the Cannabis Industry in 2021 and Beyond
By Reggie Snyder In early 2020, prior to the coronavirus pandemic, cannabis reform efforts were making steady progress on Capitol Hill. By all objective metrics, 2020 was initially shaping up to be a banner year for the cannabis industry at the federal and state level. However, after the coronavirus spread rapidly across the country, cannabis-related […]
The Last Drug Warrior: Sheldon Adelson Was The Final Billionaire To Fight Marijuana Legalization. And He Lost.
Sheldon Adelson, the billionaire casino mogul and Republican megadonor whose death at 87 was announced Tuesday, left an indelible mark on American politics. Adelson was one of the first ultrawealthy Americans to funnel oceans of cash through “super PACs” to influence policy and elections, and one of the most effective. A lifelong supporter of the […]
How Customer Data Can Drive Cannabis Operators’ Decision Making
In traditional consumer packaged goods markets, the balance between retailers and manufacturers is dynamic and competitive. When it comes to consumer data and shopping behavior data, retailers have a huge advantage over their manufacturer providers. Why? Because they have access to SKU level shopping data, and with the advent of loyalty/frequent shopper card programs, retailers […]
Better Data for a Better Understanding of the Use and Safety Profile of Cannabidiol (CBD) Products
Over a short period of time, our society has seen a rapid increase in the interest and availability of cannabidiol (CBD) products and other products derived from cannabis. However, we still have a limited understanding of the safety profile of CBD and many other cannabis-derived compounds, including potential safety risks for people and animals. At […]
Four Predictions for 2021
This past year has been game-changing for the industry. Cannabis was deemed essential, and regulators showed a willingness to quickly revise and roll out emergency rules allowing for online ordering and more flexible delivery options. These changes advanced the industry by several years in a short period of time and reassured investors who returned to […]
Study Suggests Use of Medical Marijuana Might Lead To Multiple Withdrawal Symptoms
The medical marijuana movement has been blowing up all around the world. Both ancient and modern studies have cited it as a cure for all sorts of ailments ranging from chronic pain to even leprosy (in the ancient Indian science of ayurveda too, of all places). But recent research shines a light on the darker side of the use of […]
Understanding CapEx and OpEx Requirements for a New Cultivation Business
CapEx costs are the capital expenditures required to launch a cultivation business, while OpEx costs are the day-to-day operational expenses of running that business. These figures are substantial and vary widely between indoor, outdoor, and greenhouse operations. Understanding CapEx and OpEx costs are critical for determining the cash requirements needed to launch and operate a […]
Innovative Industrial Properties Acquires Massachusetts and Washington Properties and Enters Into Long-Term Leases with 4Front
PRESS RELEASE IIP Expands Portfolio to 66 Properties Comprising 5.4 Million Square Feet in 17 States SAN DIEGO–(BUSINESS WIRE)–Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisitions of a […]
What Georgia’s Senate Results Mean for Marijuana Stocks
All eyes were on the Georgia special Senate run-off elections on Tuesday with the control of the U.S. Senate hanging in the balance. It looks like that control will shift from the GOP to the Democrats. Democratic Senate candidate Rev. Raphael Warnock has already been declared the victor in his race against incumbent Republican Sen. […]
Identifying Cannabis Markets During a Crisis
By Jonathan Monk In times of crisis, we must never forget the power of human ingenuity. Some of the immense tragedies in history have been met with profound acts of innovation and creativity. As COVID-19 has rocked the modern business world and has forced companies to “pivot or perish.” While the cannabis industry has done […]
Looking To The Future – Florida’s Emergency Edible Rules Provide An Opportunity For Profits – And Perils
by Edd Gaus and Matt Bernstein Nearly four years after Florida voters legalized medical marijuana, in August, the state’s Department of Health’s Office of Medical Marijuana Use published emergency rules allowing licensed medical marijuana treatment centers to produce, package, and label edible marijuana derivative products. Although initially temporary when enacted in August of 2020, the Department […]
Hemp Banking for Credit Unions: Five Key Questions
By Vince Sliwoski, Attorney at Harris Bricken One of the coolest things we’ve done here at Harris Bricken was work with the National Credit Union Association on its June 2020 guidance for servicing hemp-related businesses. Back when we first started working with small, Northwest credit unions in 2014 and 2015 (on the THC banking side) […]
Forget Aurora Cannabis, Curaleaf Is a Better Marijuana Stock
I wonder why there is so much hype around the Canadian pot company Aurora Cannabis (NYSE: ACB) when it has time and again failed to meet investors’ expectations. Aurora Cannabis might be a popular pot stock among investors, but if you look around, U.S. cannabis stocks hold much greater potential. One such company is Massachusetts-based Curaleaf Holdings (OTC: CURLF). While […]
The Art of Competitive Cannabis Pricing
By: Tate Behning Before cannabis was a legal option, prices in the unregulated market varied wildly depending on the whims of the individual seller. But as states find themselves at different points on the path to legalization, the market is rapidly changing. Today, cannabis is a $52 billion industry, and Americans cultivate 29.9 million pounds of […]
What is CRM and why is it important in Cannabis marketing?
How building a strong Customer Relationship Management List can super-charge your retail dispensary business. Imagine that you’re shopping at your favorite local sandwich shop. When you walk in, Wendy, the owner shouts hello to you over the counter with her back turned towards you. “The usual?” she asks? “Also, we’ve got those ice tea flavors […]
Huge Rise In UK Medical Cannabis Imports As Private Sector Steps-Up To Meet Patient Demand
NEW Government figures show a 900% increase in the number of cannabis medicines notified for import demonstrating the private sector’s growing role in fulfilling UK demand. Between March 1, and October 1, this year, the number of packs of unlicensed CBPMs (cannabis-based products for medicinal use) notified for import was 37,543, up from 3,741 in […]
Shawn Kemp is lighting up Seattle again
As the legal weed boom shuts out Black Americans, the former SuperSonics star is vowing to diversify the industry. So why are cannabis activists mad at their hometown hero? SEATTLE — He’s not more than three or four pulls into his joint when, standing in a waterfront sculpture park in the middle of the afternoon, […]
First year of legal marijuana in Illinois generated big bucks but no new minority license holders
Cannifem represents much of what state lawmakers hoped for when they legalized marijuana in Illinois. The startup business was formed by three Black women from areas hardest hit by the war on drugs. Yet the group failed to get any of the three cannabis licenses for which it applied. And the women spent tens of […]
Flower One Provides Update On Convertible Debenture Interest Payment
PRESS RELEASE Flower One Holdings Inc. (“Flower One” or the “Company”) (CSE: FONE) (OTCQX: FLOOF) (FSE: F11), a leading cannabis cultivator, producer and innovator in Nevada, announced today that it does not intend to make the applicable interest payments due on December 31, 2020 related to its Unsecured Convertible Debentures issued in March 2019 and […]
Caliva Ends 2020 in Record-Breaking Fashion with Industry-Changing Announcements
PRESS RELEASE Caliva set the pace for cannabis innovation in 2020 by launching Shawn “JAY-Z” Carter’s MONOGRAM line, expanding its delivery and retail footprint in key California markets, and entering into definitive transaction agreements with Subversive Capital Acquisition Corp. (NEO: SVC.A.U, SVC.WT.U; OTCQX: SBVCF) (“SCAC”), a special purpose acquisition company (“SPAC”), to form TPCO Holding […]
5 Research-Backed Reasons Cannabis Brands Must Prioritize Customer Experience
By Susan Gunelius Across industries, including the cannabis industry, the term customer experience (CX) gained significant traction during 2020, and now, a variety of research studies have put the growing interest in CX into perspective. No longer is customer experience an ideal that businesses will work toward in the future. In 2021, customer experience will be […]
9 Things to Consider When Raising Capital for Startups in Europe
Since my first job on Wall Street at Lehman Brothers, I was taught to raise money. And now, with a landmark vote by the EU to reclassify cannabis as medicine, the race to raise cannabis money is on. Europe has watched cannabis reform unfold in the US and Canada for some time; European countries have […]
10 Tips on How to Launch a Compliant Cannabis Retail Chain
By Lucas McCann Compliance is king. This very notion is paramount to the success of any retail chain looking to make headway in its respective markets. This certainly does not exclude the cannabis industry. To empower prospective cannabis retailers with knowledge and resources needed to launch a successful and compliant cannabis retail chain, here are […]
Cannabis Has Become a Go-To Grownup Stocking Stuffer
When a certain famous young entertainer was recently clocked at the Originals Factory & Weed Shop buying over $3,000 worth of cannabis goodies, those working behind the counter realized they weren’t just spotting a celebrity but a trend. Sensing all eyes upon her as she proceeded to lay out a bundle of hundred dollar bills to cover […]
Cannabis Patents: Which Type is Right for You?
By Jihee Ahn, Attorney at Harris Bricken It’s been a little while since we’ve talked about patent protection on the blog, but a recent consultation reminded me a primer on the different types of patents potentially available could be beneficial. Here in the United States, there are three broad categories of patents, all of which […]
The Persevering Pair Who Helped Open The London Stock Exchange To Cannabis
PERSISTENCE has paid-off for an Israeli businessman and a UK lawyer after the London Stock Exchange issued its first ever listing guidelines for cannabis firms. Roby Zomer, Co-Founder and Managing Director of MGC Pharmaceuticals, says the pending change sets-up the UK for a huge influx of cannabis capital. Nick Davis, CEO of Memery Crystal, says it is […]
Columbia Care Signs Definitive Agreement to Acquire Green Leaf Medical
PRESS RELEASE Positions Company as One of the Leading Cultivators, Processors, Wholesaling Suppliers and Retailers in Pennsylvania, Maryland, Virginia, and Ohio Company management will conduct a conference call this morning at 8 AM EST to discuss the transaction and answer questions from stakeholders. Substantially Expands Footprint and Operating Scale in East Coast and Mid-Atlantic Adds […]
New European Ecosystem Highlights Emerging Opportunities For Cannabis Entrepreneurs
Inspite of its delayed arrival Europe has a first-class opportunity to become a world-leader in the emerging global cannabis industry. This is one of the key take-aways from the latest First Wednesdays’ Ecosystem cannabis legend – this time of the emerging European medical cannabis industry. Back in June, FW corralled its database and publicly-available information to […]
Looking to cash in on the green wave and jump into a new market? Here’s some PR tips from an industry pro
By Jordan Isenstadt With the recent ballot measure victories on Election Day, a total of 36 states (along with Washington, D.C. and three territories) have some form of legal cannabis on the books. With dollar signs in mind, many are turning their attention to legal cannabis markets, especially states that have recently expanded their cannabis […]
The basics of creating a high quality infused gummy brand
By Lauren Tamburro & Evan Smith There is something incredibly exciting about the blossoming cannabis industry. People from all walks of life, in all kinds of careers, can develop an innovative product idea and then actually make it happen. Some of today’s most successful brands were started in a home kitchen, on evenings and weekends and […]
If You Have Only Protected Your Cannabis Business Using the Minimum Security Required by Law, YOU ARE NOT SECURE
This year has been filled with what has been termed peaceful protests. Unfortunately, the reality is these peaceful protests have left an undetermined amount of damage in their wakes sure to total tens of billions of dollars across the U.S. Many businesses have been damaged and looted with no rhyme nor reason as to the […]
Schultze Special Purpose Acquisition Corp. and Clever Leaves International Inc. Complete Business Combination
PRESS RELEASE Common Shares and Warrants of the Combined Company to Begin Trading on Nasdaq Under Symbols CLVR and CLVRW on Friday, December 18, 2020 RYE BROOK, N.Y., Dec. 18, 2020 (GLOBE NEWSWIRE) — Schultze Special Purpose Acquisition Corp. (NASDAQ: SAMA, SAMAW, and SAMAU) (“SAMA”) and Clever Leaves International Inc. (“Clever Leaves”) announced that following […]
Acreage Holdings Names Peter Caldini, Former President Pfizer North America Consumer Healthcare, as CEO
PRESS RELEASE NEW YORK, Dec. 18, 2020 (GLOBE NEWSWIRE) — Acreage Holdings, Inc. (“Acreage”or “Company”) (CSE: ACRG.A.U, ACRG.B.U), (OTC: ACRHF, ACRDF) is pleased to announce that Peter Caldini has been appointed as the Company’s Chief Executive Officer. He officially joins Acreage on Monday, December 21st. Peter brings an ideal mix of capabilities and experience to […]
CBD Marketing: There’s Hope Beyond Black Friday
by Scott Waldman Black Friday is widely considered the holy grail for holiday sales. Marketers will spend months preparing the perfect campaign to win conversions between Thanksgiving and Cyber Monday – but then what happens? Is it still possible for CBD brands to boost sales and capture new markets through December, or even into January? […]
Over 500 Deals Pitched To $200m UK Cannabis Fund
NEWLY-LAUNCHED legal medicinal cannabis fund Verdite Capital plans to make its first investments in the spring of 2021 – with team members having already considered over 500 deals in the sector. It is close to securing $75m from a UK-based multi-family office and is looking to top that up to $100m for the first close – with […]
Aphria and Tilray Combine to Create Largest Global Cannabis Company With Pro Forma Revenue of C$874 Million (US$685 Million)
PRESS RELEASE Complementary, Scalable Medical and Adult-Use Cannabis Businesses Strengthen Leadership Position in Canada; Expands U.S. and International Reach through World-Class Cultivation, Manufacturing, Diversified Product Portfolio and Distribution Footprint Robust Supply Chain and Operational Efficiencies Expected to Generate Approximately C$100 Million of Pre-Tax Annual Cost Synergies Aphria and Tilray to Host a Conference Call and […]
Verano Holdings Enters into an Agreement for a Go-Public Transaction in Conjunction with AltMed Merger
PRESS RELEASE CHICAGO – December 15, 2020 – Verano Holdings, LLC (“Verano” or the “Company”), a leading multi-state cannabis operator, today announced it has entered into a definitive agreement to consummate a go-public transaction in Canada (the “Transaction”). The Transaction will be effected by Verano participating in a reverse takeover (the “RTO”) of Majesta Minerals […]
Cannabis vape pens are popular, but are they healthier?
By Clint Sharples Vape pens are one of the most popular ways to consume cannabis. They’re affordable and convenient, effective and efficient. But are they safe? Or at least safer than smoking unprocessed cannabis? Nicotine-based vaping has long attempted to position itself as a healthier alternative to cigarettes, and it’s easy to extrapolate this same […]
Cannabis M&A – A Template for Success Part 3: The Due Diligence Process
In the third of a 3-part series, Erik Ott of Investment Bank KO Acquisitions examines the due diligence process and shares advice on how to drive a transaction to a successful conclusion. In Part 1 Ott focused on the requirements necessary to engage in M&A discussions, and Part 2 discussed early engagement between buyer and […]
Cannabis Design and Construction are Team Sports
By Robert Spence, with Andrew Poticha We are in the midst of a cannabis boom—and that means a building boom, too. Rapid growth inevitably means new facilities are needed in real-time to meet the industry’s skyrocketing demand for product. That in turn means construction is needed for all types of buildings, from state-of-the-art cultivation centers […]
Executives No Longer Spooked by Pot Jobs
Industry luring managers from companies like Hershey, Hostess Competition for workers sparks offers like five-day weekends Professionals used to shy away from jobs in the marijuana industry — or at least keep them hush hush. Now, the tables have turned. Liesl Bernard, chief executive of San Diego-based CannabizTeam, which places both managers and temps at cannabis companies, […]
Psychedelics Replace Pot as the New Favorite Edgy Investment
Psilocybin and other drugs seen as next ‘get-rich-quick’ plays Weed liberalization could pave the way for legal hallucinogens Cannabis is only on the cusp of many investors’ comfort zones, but the family offices and high-net-worth individuals hungry for early stage, edgy investments have already moved on to psychedelics. Marijuana’s legal headway in recent years has […]
Cannabis review site Weedmaps agrees $1.5 billion deal to go public
(Reuters) – WM Holding Company, a cannabis technology company which operates the online U.S. platform Weedmaps where users find and rate marijuana sellers, said on Thursday it has agreed to go public through a merger with Silver Spike Acquisition Corp. The deal to take Weedmaps public, which values the company at around $1.5 billion, is […]
Clever Leaves Successfully Delivers First Shipment of EU GMP certified Cannabis derived Pharmaceuticals from Colombia to Germany
PRESS RELEASE Clever Leaves expands global capabilities and development of market specific pharmaceutical products NEW YORK, Dec. 10, 2020 (GLOBE NEWSWIRE) — Clever Leaves (“Clever Leaves”), a leading multi-national operator and licensed producer of pharmaceutical-grade cannabinoids, today announced it has successfully delivered the first shipment of EU GMP certified cannabis standardized extract from Colombia to Germany, […]
Expanding MSOs Talk a Big Game—So Why Are We Still Waiting for National Cannabis Brands to Emerge?
We saw several M&As over the past few years that promised big things for cannabis, including the potential emergence of a national brand. These MSOs talked about being national players. Some were successful, but many failed to take decisive action to achieve this goal. We take a more in-depth look below at the key differences in successful approaches contrasted against other efforts.
Cannabis Operations Software: A Complicated Journey
If there is one thing I have learned in the past 7 years of cannabis business pursuit, it is that the industry remains incredibly immature. Not the people mind you. Most people I’ve met in the cannabis world are smart, sober and hard working professionals doing their best to navigate through a system with nearly […]
How Legal Cannabis Affects Property Values
In the recent election, New Jersey, Arizona, Montana, South Dakota and Mississippi all passed cannabis legalization, leaving only a handful of states who have not passed some form of cannabis. When it comes to legalizing marijuana, particularly for adult-use, people are concerned about rising crime rates, unsightly grow facilities and a decline in property values […]
Cannabis: A Fuel For UK Economic Growth Says Newly-Launched Industry Group
THE UK can ride the global green wave to boost the domestic economy in the post-Covid, post-Brexit world, says a newly formed coalition of senior cannabis players. New Leaf Opportunities (NLO) is launched today by some of the UK’s leading lights with the aim of highlighting the potential of medical cannabis, and CBD wellness, as […]
NBA to continue policy of not testing players for marijuana
We all see which way this issue is trending, right? While marijuana is still on its banned substance list, the NBA and players union agree to terms that would not text players in the Orlando restart bubble for pot. That is going to carry over to this season, reports Ben Dowsett. Marijuana legalization is becoming […]
Why You Shouldn’t Cut Your Marketing Budget During a Pandemic
It cannot be denied that the COVID-19 pandemic has touched every facet of our lives. To this end, in the year 2020, the business landscape has undergone violent upheavals, transitions, and changes. This notion is also true in the cannabis industry. As the coronavirus overtook the globe in spring 2020, business owners feared what such […]
Columbia Care Completes Acquisition of Project Cannabis
PRESS RELEASE NEW YORK–(BUSINESS WIRE)–Columbia Care Inc. (NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF) (FSE: 3LP) (“Columbia Care” or the “Company”) announced that it has completed its acquisition of Project Cannabis, a leading cannabis cultivator, wholesaler and retailer based in Los Angeles, California. Total transaction consideration includes approximately $52.5 million in Columbia Care stock and an […]
What is the Right Way to Compensate Key Cannabis Executives and Employees? With Stock or Options?
By Jonathan Bench, Attorney at Harris Bricken This is the season of the year where cannabis business owners start to take a hard look at their end of year finances to decipher how profitable the company has been and whether and how their employees and other key personnel should share in that profit alongside the […]
Curio Wellness launches $30M fund to help women and minorities own a cannabis dispensary
“We think of diversity as a keystone issue for the cannabis industry,” said Curio WMBE Fund managing director Jerel Registre in a conversation with TechCrunch. Registre’s conviction around this program is obvious as he explains the problem the fund is addressing. The new fund, started by the Maryland-based medical cannabis company Curio Wellness, aims to […]
Curio Wellness Launches Investment Fund to Combat Diversity and Inclusion Challenges within Cannabis Industry
PRESS RELEASE $30 Million in Capital will Provide 50 Diverse Entrepreneurs with Up to Ninety-Three Percent of the Capital Needed to Open a Curio Franchise in any one of eight states. December 01, 2020 09:00 AM Eastern Standard Time TIMONIUM, Md.–Curio Wellness today announced a new funding program that will provide start-up capital for minority […]
Pot Goes Organic From California to Uruguay: Cannabis Weekly
Organic, traceable cannabis products command premium prices Growers eye certification alternatives due to federal rules Consumers are already paying more for organic coffee, organic strawberries and clothing made with organic fibers. Why not organic cannabis? That’s the thinking of a growing number of producers around the globe looking for a way to distinguish themselves in […]
How to Use Lead Magnets to Grow Your Cannabis Business
With so many advertising and marketing opportunities unavailable to cannabis and cannabis-related businesses, email marketing has taken center stage as one of the most effective ways to generate leads, nurture them through the buyer journey, and convert them into sales and loyal customers. However, you need a list of people to email in order for […]
Branding in the Age of Legal Cannabis
We recently worked with a large state-licensed cannabis grow and medical marijuana retail operation in Massachusetts to prepare for launching a dispensary for adult use sales of cannabis. We went in with great optimism due to our extensive knowledge and tenure marketing both cannabis and general consumer products and brands, including specific experience relating to […]
Cannabis M&A – A Template for Success, Part 2 – Negotiating the LOI
In Part 1, Erik Ott of investment bank KO Acquisitions explained how to get your cannabis company ready for an M&A transaction by concentrating on corporate hygiene. In Part 2, Ott examines the process and key elements involved in the non-binding Letter of Intent (LOI). You’ve given a few tours, talked with senior management, and […]
CBD’s Differing Effects on Women and Men Under FDA Scrutiny
CBD affects men and women differently, and that could have an impact on how the U.S. regulates the buzzy new substance. Women may be more likely to use it to alleviate pain, sleep difficulties, anxiety and other health issues, according to Amy Abernethy, a top official with the Food and Drug Administration. CBD, the non-psychoactive […]
Jushi Holdings Inc. Announces Significant Expansion of Pennsylvania Cultivation Facility
PRESS RELEASE Company to triple grower-processor’s canopy from ~33,000 sq. ft. to ~98,000 sq. ft. in fast-growing market; Increase total facility size from ~90,000 sq. ft. to ~160,000 sq. ft. BOCA RATON, Fla., Nov. 23, 2020 – Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCMKTS: JUSHF), a vertically integrated, multi-state cannabis operator, announced […]
Wellness Connection to open adult-use cannabis shop Monday in South Portland
The store marks the beginning of Maine’s largest marijuana company’s conversion from medical to recreational sales. The state’s biggest medical marijuana company, Wellness Connection of Maine, will open its first recreational store Monday. Changing its South Portland clientele from card-carrying medical patients to anyone over the age of 21 marks the beginning of Wellness’s transition […]
Jushi Holdings Inc.’s Majority-Owned, Vertically Integrated Facility in Virginia Has Commenced Operations; Opens First of Six Dispensaries in Virginia and 12th BEYOND/HELLO Retail Location Nationally
PRESS RELEASE BEYOND / HELLO Manassas Will Begin Medical Marijuana Dispensary Sales in the Commonwealth of Virginia on Tuesday, December 1, 2021 at 10:00 a.m. BOCA RATON, Fla., Nov. 19, 2020 (GLOBE NEWSWIRE) — Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCMKTS: JUSHF), a vertically integrated, multi-state cannabis operator, announced that Dalitso LLC, […]
Cannabis strength soars over past half century
New research shows that over the past 50 years street cannabis across the world has become substantially stronger carrying an increased risk of harm. The team behind the study from the Addiction and Mental Health Group at the University of Bath, synthesised data from over 80,000 cannabis samples tested in the past 50 years from […]
Cannabis Ballot Wins Pave The Way For Social Justice Action By States And Companies
In the Unites States, cannabis drug laws have disproportionately affected Black and brown people, while newly-legal marijuana endeavors are predominantly owned by people who are white and male. This fall’s ballot wins for cannabis legalization give states and private businesses the opportunity to ameliorate racial disparity in an industry where about 17% of executive positions […]
Cresco Labs Announces Record Revenue of $153.3 Million, Growth of $59 Million or 63% QoQ, and Adjusted EBITDA1 of $46.4 Million
PRESS RELEASE Company affirms position as the largest wholesaler of branded products in the industry with $90.5 million in wholesale revenue Record revenue of $153.3 million, 63% growth QoQ, an absolute increase of $59 million Record adjusted EBITDA1 of $46.4 million, 182% growth QoQ Record cashflow from operations of $17.8 million Retail revenue growth of […]
Pandemic sees 9 million new users join the US CBD market
The latest consumer research from High Yield Insights has found that almost one in four CBD users entered the category in the last 6 months. This is equivalent to 9 million new users. In addition, more than one in three longer-term CBD users (an estimated 13.4 million adults) tried at least one new product format […]
Cannabis M&A – A Template for Success, Part 1
Opportunities abound for today’s cannabis producers, but any business seeking to sell a cannabis operation is likely to face a steep learning curve and numerous unforeseen obstacles. In a three-part series, Erik Ott of investment bank KO Acquisitions will lay the groundwork for those contemplating a sale to US or Canadian buyers. In Part 1, […]
The Unusual Bedfellows of President-Elect Biden, Cannabis and the Insurance Market
By: Mikaela Whitman and Jacquelyn Mohr In recent years, the cannabis industry has experienced unprecedented growth and transformation. In 2017, the cannabis industry generated nearly $9 billion in annual sales and by 2022, some project that number will increase to an estimated $80 billion.[1]As the cannabis industry continues to grow and diversify, cannabis businesses will encounter […]
Realm of Caring, in Collaboration With Johns Hopkins, and Bloom Medicinals Develop Partnership for Cannabis Therapy Research
PRESS RELEASE Cannabinoid Research Nonprofit Partners With Multistate Dispensary Operator to Serve as a Data Resource for Medical Marijuana Research Across the Country DENVER–(BUSINESS WIRE)– Realm of Caring (RoC), a nonprofit dedicated to cannabinoid research, educational programs and services, is pleased to announce a one-year partnership with Bloom Medicinals, a multistate operator of medical cannabis […]
The Elections Over, But Not the Stress, Any Edibles Left?
Sales surged as people turned to gummy bears, cookies and chocolate infused with cannabis to soothe their jitters. OAKLAND, Calif. — In the weeks leading up to November, Iashia Kilian felt her anxiety deepen. She knew her vote in the swing state of Michigan could help decide who the next president would be. She had done […]
The “Right to Try” Psilocybin and New Drug Therapies
by Vince Sliwoski, Attorney at Harris Bricken I was talking to another lawyer about last week’s vote by Oregonians to legalize psilocybin therapy here in the state. We discussed how licensed facilities won’t be up and running for a few more years, and how, in the meantime, people will have to make do with general […]
Synthetic vs. Natural Hemp: A Legal and Labeling Minefield
The DEA’s recent interim final rule–which appears to be in contravention of the letter and spirit of the Agricultural Improvement Act of 2018 (aka the Farm Bill)–continues to cause concern and turmoil in the industry. The proposed rule addresses CBD and hemp manufacturing, and threatens to criminalize certain hemp derived cannabinoids, extracts and derivatives, and […]
Verano Holdings Announces Agreement to Acquire and Combine Operations with AltMed in Florida and Arizona, Creating One of the Largest U.S. Private Cannabis Companies
PRESS RELEASE -Combines two profitable, fully integrated platforms operating in limited-license, high-growth markets -Deal expected to be immediately accretive upon closing CHICAGO and SARASOTA, Fla. – November 11, 2020 – Verano Holdings, LLC (“Verano”), a leading multi-state cannabis owner, operator, and manager today announced the signing of a definitive merger agreement to acquire and combine […]
Harvest Health & Recreation Inc. Reports Third Quarter 2020 Financial Results
PRESS RELEASE Third quarter revenue was $61.6 million, up 86% from the third quarter 2019 and 11% sequentially Third quarter adjusted EBITDA was $10.5 million, compared to $4.1 million in the second quarter of 2020 2020 revenue target increased to greater than $225 million, up from $215- 220 million PHOENIX, November 10, 2020 — […]
Exploring Market Opportunity for Fast-Acting Infused Powder Products
As the market for hemp and cannabis infused products expands and diversifies, consumers are expecting a steady stream of exciting and innovative products to try. To support this new generation of products, the industry needs quality scientific solutions to match. Powder-based cannabis emulsions are one of these scientific advances that will have a significant role […]
Cannabis Real Estate: Cultivating the Right Partner
Over the lifespan of retail-oriented industry in America, real estate has been a make or break factor in the success of many companies. The now legendary former president of McDonald’s Harry Sonneborn once famously told McDonald’s founder Ray Kroc that he wasn’t “in the burger business, but the real estate business.” The quality and strategy […]
Marijuana Stock Blip Hints at Canada Doubts
The U.S. election opened a small but noteworthy gap between Canadian and U.S. cannabis companies last week, underscoring all of the unanswered questions that investors face as access to pot spreads across the world’s largest economy. New Jersey, Arizona, South Dakota and Montana voted to legalize recreational use last week, while Mississippi and South Dakota […]
Support for Legal Marijuana Inches Up to New High of 68%
Americans are more likely now than at any point in the past five decades to support the legalization of marijuana in the U.S. The 68% of U.S. adults who currently back the measure is not statistically different from last year’s 66%; however, it is nominally Gallup’s highest reading, exceeding the 64% to 66% range seen […]
Oregon Cannabis Dispensary Sales: What We Are Seeing on Valuation
By Vince Sliwoski, Attorney at Harris Bricken The Oregon secondary market for cannabis licenses and businesses remains lively. We have been helping industry buy and sell these businesses since 2016. This post is mostly about pricing for retail plays, which is still an evolving standard, but a standard nonetheless. First, some context. Over the past […]
Willy Wonka Would Be Proud
With the passing of the 2018 Farm Bill and the removal of industrial hemp and its derivatives from the Schedule I list of the Controlled Substances Act, cannabidiol (CBD) became a mainstream sensation. Hemp-derived CBD is the non-psychoactive cousin to tetrahydrocannabinol (THC), the cannabis plant’s psychoactive component. CBD, faces both intense interest and caution by […]
Why Explosive Applications Create Bulletproof Marijuana Businesses
In 2019, legalized Marijuana’s domestic sales reached $11.7 billion, and grow, processing and dispensary licenses were valued at (and, reportedly, sold for) over $20 million dollars. Licenses are granted by the respective 33 states with Marijuana programs, most of which impose an arduous competitive application process and deny 91% of the submissions. Like any other contest, […]
Cannabis Industry Recruiting Best Practices
By Liesl Bernard Who could have predicted back in January how much the world would change over the months to come? With all of the turmoil and challenges presented by the COVID-19 pandemic, the resiliency of the cannabis industry has been a welcome bright spot in 2020. Cannabis businesses have filled thousands of positions this […]
Aurora Cannabis Forecasts Sales At High End, But Marijuana Stocks Fall
Aurora Cannabis stock fell on Friday, even as the Canadian cannabis producer said it expects fiscal first-quarter sales and adjusted margins to come in at the high end of its expected range. Other marijuana stocks were mixed. The company sees fiscal first-quarter net sales coming in at the upper end of expectations for 60 million to 64 million […]
Jay-Z launches Monogram, his own cannabis line
Jay-Z is growing his empire. The 50-year-old rapper and music mogul announced Friday that he is launching his first line of cannabis in a joint venture with Caliva, a California-based weed company. The rapper, whose real name is Shawn Carter, teamed up with Caliva last year when he became the brand’s chief brand strategist. Since […]
He Was Arrested for Weed at 13, and He’s Selling It Legally at 27
In the hinterlands of central Massachusetts, Seun Adedeji works the crowd with an evangelist’s flair. “We’re here to get you guys medicated and elevated,” he says. At his store’s grand opening this month, he and his customers—some in khakis and leaning on canes, others in psychedelic T-shirts and ripped jeans—greet each other with pandemic-friendly elbow […]
Cannabis Company Basics: Compliance is Key
by Griffen Thorne, Attorney at Harris Bricken A few weeks ago, we wrote about the lawsuit filed by the California Bureau of Cannabis Control (BCC) against Vertical Bliss, Inc., a company which the BCC alleged had manufactured cannabis products and sold them unlawfully in the illicit market. The BCC is seeking mind-blowingly high civil penalties […]
