PRESS RELEASE Vehicle provides Harvest a potential new source of capital for construction and development projects at preferential rates PHOENIX–(BUSINESS WIRE)–Harvest Health & Recreation, Inc. (CSE: HARV) (“Harvest”), a vertically integrated public cannabis company with one of the largest footprints in the U.S., announced it entered into an agreement to form Aina We Would, LLC (“AWW”), […]
Banking, Finance & Real Estate
Canada’s Aurora Cannabis buys Mexico’s Farmacias Magistrales
MEXICO CITY (AP) — Aurora Cannabis Inc. of Edmonton, Alberta, said Monday it has signed a letter of intent to acquire all outstanding shares of Mexico’s Farmacias Magistrales SA. Farmacias Magistrales is a Mexican importer of raw materials containing THC, the active ingredient in marijuana. It will distribute medical cannabis products containing over 1 percent […]
Banking on Cannabis: An Insider’s Guide to Banking With Marijuana-Related Businesses
By Alan Hanson There are many articles written about the issues surrounding banking Marijuana-Related Businesses (MRBs), but there are very few that discuss how banks can actually do this. And there are even fewer written by someone who has successfully helped a bank do it! As general counsel and compliance officer for an Oregon credit union, […]
Public Banks Could Help Serve Marijuana Industry
NESTLED at the edge of Bismarck, North Dakota, where the city meets the Missouri River, is an inconspicuous brick building that houses a unique institution: The Bank of North Dakota, the only state-owned and state-run bank in the U.S. Born of necessity, the banking model pioneered by North Dakota has since proved profitable – to the tune […]
GW Pharmaceuticals plc Reports Fiscal Fourth Quarter and Year-End 2018 Financial Results and Operational Progress
PRESS RELEASE Epidiolex® (cannabidiol) oral solution (CV), first FDA-approved plant-derived cannabinoid medicine launched in the U.S. – Conference call today at 4:30 p.m. EST – LONDON and CARLSBAD, Calif., Nov. 27, 2018 (GLOBE NEWSWIRE) — GW Pharmaceuticals plc (NASDAQ: GWPH, GW, the Company or the Group), the world leader in the development and commercialization of […]
Cresco Labs Acquires Assets in Massachusetts with First Cannabis Harvest Planned for Spring 2019
PRESS RELEASE Acquisition of Cultivation, Processing and Dispensary Adds Key Assets To National Footprint CHICAGO – December 6, 2018 – Cresco Labs, (CSE:CL) one of the largest vertically integrated multistate cannabis operators in the United States, today announced a definitive agreement to acquire 100% of the shares and membership interests of Hope Heal Health, Inc. (“HHH”) […]
Harvest Health & Recreation, Inc. Reports Third Quarter 2018 Financial and Operation Results
PRESS RELEASE Total revenue for the three and nine months ended September 30, 2018 increased 62% and 92%, respectively from prior year. Total revenue for Q3 2018 increased 6% compared to Q2 2018. The Company continues to operate profitably; Adjusted EBITDA for the nine months ended September 30, 2018 was $7.6 million (all dollars are […]
New Legislation Could Solve the Cannabis Industry’s Banking Problem
One of the biggest obstacles that businesses operating in the cannabis industry face is finding a bank that will work with them. Even ancillary marijuana businesses and people and businesses associated with the marijuana industry have banking problems. To date, there isn’t a perfect solution. While some startups are trying to solve those problems, former […]
Cresco Labs Begins Trading On the Canadian Securities Exchange Under Ticker Symbol ‘CL’
PRESS RELEASE New Investors Website Launched at investors.crescolabs.com CHICAGO – December 3, 2018 – Cresco Labs Inc., one of the largest vertically integrated multistate cannabis operators in the United States, begins trading today on the Canadian Securities Exchange (“CSE”) under the ticker symbol “CL.” Cresco Photos: http://bit.ly/Cresco-Press “Today marks the beginning of an exciting new chapter in […]
Alaska credit union to serve marijuana businesses
A credit union will launch a pilot program to begin serving marijuana businesses in Alaska, giving the cash-reliant industry a financial option after banks shunned the industry. Most banks and credit card processors in the U.S. won’t service marijuana businesses because of the federal prohibition on marijuana. Credit Union 1 announced its decision Thursday and […]
MedMen Reports First Quarter Fiscal Year 2019 Financial Results
PRESS RELEASE November 29, 2018 04:02 PM Eastern Standard Time LOS ANGELES–(BUSINESS WIRE)–MedMen Enterprises Inc. (“MedMen” or the “Company”) (CSE: MMEN) (OTCQX: MMNFF) (FSE: A2JM6N), today released its consolidated financial results for the first quarter of fiscal 2019. All financial information for the three-month period ended September 30, 2018 is reported in U.S. dollars, unless otherwise […]
4 Types of Insurance Coverage Cannabis Businesses Should Consider
By Spencer Mahoney Up to 40 percent of California’s marijuana growers saw their operations either disrupted or destroyed by wildfires that erupted across the state. And that was last year, before the recent devastating Camp fire tore through Paradise, Calif., destroying thousands of structures and killing dozens of people. Paradise happens to be in Butte […]
How The Largest Marijuana Retail Space In The U.S. Plans To Revamp A District
For a while it looked like the best thing to bring to a neighborhood was a new Whole Foods grocery store. One study showed that homes in these neighborhoods would appreciate at a much faster rate than if they were near a Trader Joe’s (and both were better than a Starbucks). Another sign a neighborhood is on the cusp of […]
4Front and Cannex Capital Announce Transformational Business Combination to Create Operations-Focused Industry Leader
PRESS RELEASE Cannex’s proven large-scale cultivation and manufacturing leadership combined with 4Front’s retail platform, business development and executive team will create a multi-state vertically integrated powerhouse Vancouver, BC and Phoenix, AZ, November 26, 2018 – Cannex Capital Holdings Inc. (“Cannex” or the “Company”) (CSE: CNNX / OTCQX: CNXXF) and 4Front Holdings, LLC (“4Front”) are pleased to announce that […]
Curaleaf Reports Third Quarter 2018 Financial and Operational Results
PRESS RELEASE WAKEFIELD, Mass., Nov. 26, 2018 /PRNewswire/ — Curaleaf Holdings, Inc. (CSE: CURA) (“Curaleaf” or the “Company“), a leading vertically integrated cannabis operator in the United States, today reported its unaudited financial and operating results for the third quarter and nine months ended September 30, 2018. Total Revenue for Q3 and Nine Months 2018 Increased […]
Solving the Cannabis Banking Issue: De Novo Bank/Credit Union or Acquisition—What’s Possible?
I field a number of calls from people wanting to start or acquire a financial institution to solve the lack of access to banking for the cannabis industry. So, what is possible and what roadblocks might you expect to face? State vs. Federal Charters: People often view ‘state chartered’ financial institutions as the charter that […]
Applied Inventions Management Corp. Announces Completion of its Continuance to British Columbia and Name Change and Completion of Subscription Receipt Financing
PRESS RELEASE TORONTO and NEW YORK, Nov. 13, 2018 (GLOBE NEWSWIRE) — Acreage Holdings, Inc. (the “Company”), formerly Applied Inventions Management Corp., and High Street Capital Partners, LLC (d/b/a Acreage Holdings) (“Acreage”) are pleased to announce that, further to their September 21, 2018 announcement regarding the business combination pursuant to which, among other things, Acreage […]
Harvest Health & Recreation Inc. Announces Completion of its Business Combination
PRESS RELEASE PHOENIX, AZ and TORONTO, ON – November 14th, 2018 – Harvest Health & Recreation Inc. (the “Company”), formerly RockBridge Resources Inc. (“RockBridge”), is pleased to announce that it has completed its previously announced business combination (the “Business Combination”) with Harvest Enterprises Inc. (“Harvest”). In connection with the Business Combination, on November 13, 2018, […]
