Marijuana Sales, Funding & Banking News


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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Week in Review: MA adult-use cannabis stores reopening, High Times deal unravels, Acreage ‘reset’ & more

Massachusetts recreational marijuana retail stores will be allowed to reopen May 25, but sales will be limited to curbside pickup and online or telephone orders. MJBizDaily takeaway: This ends an expensive shutdown and a sore point for rec store operators in Massachusetts, who have seen counterparts across the country generally treated as essential businesses. Gov. Charlie […]

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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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LivWell continues Colorado expansion, buys marijuana retail chain Mindful

Colorado-based LivWell Enlightened Health continued its acquisition spree this month with the purchase of competing retail chain Mindful, which owns five cannabis stores in the state. According to Denver alt-weekly Westword, the acquisition expands LivWell’s footprint to 22 storefronts in Colorado with the addition of Mindful’s shops in Aurora, Berthoud, Colorado Springs and Denver to […]

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Oklahoma’s business-friendly medical cannabis program still has room to grow, experts say

Medical marijuana sales and patient numbers in Oklahoma continue to increase at a staggering rate, indicating the red-hot market has room to grow, although some sectors and parts of the state are saturated with businesses, industry officials say. The state’s free-market approach so far has proved successful, with April sales topping $60 million. Meanwhile, regulators have […]

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US House OKs cannabis banking in passing $3 trillion coronavirus bill

The U.S. House of Representatives late Friday passed a $3 trillion coronavirus stimulus bill that includes a provision that would allow banks to serve state-legal marijuana businesses without fear of punishment. The bill passed along partisan lines by a 208-199 margin and now heads to the Senate, where it faces fierce Republican resistance. The Health […]

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Cannabis tech firm MassRoots receives $50,000 federal stimulus check

Financially struggling marijuana technology company MassRoots received a $50,000 loan as part of the U.S. government’s Paycheck Protection Program, securing a cash infusion after earlier indications the money wouldn’t be available to cannabis companies. Denver-based MassRoots, which offers an internet-based forum for cannabis consumers to connect and discuss various marijuana-related topics, secured the loan from Bank […]

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MedMen temporarily shutters five medical cannabis outlets in Florida

Los Angeles-based MedMen Enterprises temporarily closed five of its eight Florida medical marijuana dispensaries on May 3, according to the company’s website. A spokesperson for the multistate marijuana operator didn’t offer much clarity on the closures, which were first reported by Florida Politics. “We cannot provide comment at this time, but as soon as plans are confirmed, we […]

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Illinois adult-use marijuana sales strong despite coronavirus ‘headwinds’

Recreational cannabis sales in Illinois totaled $37.3 million in April as the state continued to experience strong activity even amid the first full month of a coronavirus-fueled, shelter-in-place order. April sales marked the second-highest monthly total for Illinois’ rec program since it launched on Jan. 1, the Chicago Tribune reported. Adult-use sales in the state for the first […]

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How 4/20 played out for marijuana businesses around the US

Cannabis companies across the United States reported a mixed bag for sales this year leading up to the industry’s most celebrated day: 4/20. While the surge of consumer stockpiling based on concerns about the coronavirus pandemic boosted some companies’ bottom lines, others were hurt by restrictive stay-at-home orders that prevented in-person sales. Marijuana Business Daily […]

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