Cannabis Industry & Marijuana Business Briefs


COVID-19 might force distribution delay for Germany’s first cannabis harvest

The first domestic harvest of medical cannabis in Germany, slated for October, could be delayed because of the ongoing coronavirus pandemic, regulators have warned. The Federal Institute for Drugs and Medical Devices (BfArM) wrote in updated documentation that “it cannot be ruled out that the first delivery will be delayed” because of COVID-19. The agency […]

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Cresco Labs plans to acquire four medical cannabis dispensaries in Ohio

Cresco Labs, a vertically integrated multistate marijuana company, said it agreed to purchase four Ohio medical marijuana dispensaries, currently operated by Verdant Creations, as the Illinois-based company increased its investment in what’s shaping up to be a lucrative market. Cresco will pay $375,000 in cash for each store as well as $500,000 of the company’s […]

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Manitoba to open cannabis store market ‘to all prospective retailers’

Manitoba will soon begin taking applications for new cannabis store licenses, opening up the recreational marijuana market in the central Canadian province to all comers. Applications will be accepted starting June 1, but the province will process only one location per applicant at a time. Applicants without any existing stores in Manitoba will be prioritized, […]

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Webinar to look at product preferences among marijuana consumers

Product preferences among cannabis consumers across the country will be the focus of a free webinar that Marijuana Business Daily is presenting Tuesday, May 26. MJBizDaily‘s data editor, Eli McVey will speak, with Nancy Whiteman, CEO of Boulder, Colorado-based edibles company Wana Brands, and Liz Conners, data analyst for Seattle-based Headset. The three will discuss […]

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Canadian cannabis sales surged in March amid COVID-19, data shows

Retail sales of regulated cannabis in Canada soared in March, growing 19% on a monthly basis to a record 181 million Canadian dollars ($129 million). The March retail sales figures from Canada’s national data bureau confirm what industry sources told Marijuana Business Daily that month: Consumers flocked to cannabis stores to stock up as public […]

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Jamaica plans to maintain ‘functional’ cannabis market amid pandemic

Jamaica published details about the “Business Continuity Plan” it has implemented to maintain a functional and expanding cannabis industry amid the COVID-19 pandemic. Part of the plan involves the Cannabis Licensing Authority (CLA) using “remote” means to monitor harvests and other medical cannabis operations. “This is to allow for the continuity of activities on licensed […]

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Signs point to possible illicit cannabis activity in L.A. blast, report says

The Los Angeles Fire Department has launched a review of all smoke and vape shops in the city to ensure they’re storing explosive materials correctly after a recent explosion at Smoke Tokes that injured a dozen firefighters. According to the Los Angeles Times, the LAFD will be working to identify all similar businesses and ensuring those […]

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Marijuana MSO Harvest announces layoffs, other pivots in $24M cost-cutting

Arizona-based multistate cannabis operator Harvest Health & Recreation revealed that it recently cut $24 million in expenditures – including laying off an undisclosed number of workers – in an effort to “rightsize” the company’s operations. According to the Phoenix Business Journal, Harvest disclosed during a May 20 earnings call that a “small amount” of the […]

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Prince Edward Island to reopen cannabis stores with restrictions

Licensed recreational cannabis stores in Prince Edward Island will reopen on May 22 “with limited access,” the government-operated marijuana retailer announced. All four PEI Cannabis stores on the island were closed on short notice in March in response to the COVID-19 pandemic, although online sales continued. The reopened stores will feature public health measures, including: Restricting […]

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High Times’ deal to buy cannabis grow, processing facilities falls apart

High Times Holding Corp.’s move to expand into marijuana operations hit a snag with the collapse of a deal to buy a cultivation and processing business in California. The parent of the iconic High Times magazine said in a U.S. Securities and Exchange Commission filing that its planned acquisition of Humboldt Heritage was terminated by “mutual agreement” […]

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Nevada marijuana sales up 20% in 2019, but COVID-19 slows progress

Nevada marijuana sales for 2019 reached $692 million, a 20% increase from fiscal year 2018, but lost sales stemming from the market disruption caused by the coronavirus pandemic is throwing cold water on future projections. That information comes from a new study by Las Vegas-based RCG Economics. The report, “2020 Marijuana Economic & Fiscal Benefits Analysis: […]

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British Columbia books record tax revenue from cannabis sales

British Columbia’s monthly share of the federal excise duty on adult-use cannabis hit a fresh high as the province continued to execute its plan to greatly expand the number of privately and publicly owned marijuana stores. For December, British Columbia’s share of the federal excise tax was 2.5 million Canadian dollars ($1.8 million) – the […]

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