Illinois Medical Cannabis Business & Marijuana Legal News

Illinois releases social-equity map for adult-use marijuana licensing

Illinois officials identified areas where applicants who want to legally grow and sell recreational cannabis would get preference under the law’s social equity provision, one that some believe could become a national blueprint for other MJ programs. The map was released on the eve of the state making applications available for up to 75 rec […]

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CDC reports majority of patients sickened in vape epidemic used marijuana vaporizer devices – many from illicit market

Health officials reported on Friday that the majority of those sickened in the vaping health crisis used cannabis vape products containing THC, and many of those in the first two states to report illnesses – Illinois and Wisconsin – said they used counterfeit marijuana products from the illicit market, not licensed MJ companies. The revelations, […]

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Cresco Labs to sell marijuana facilities to REIT for $46.3M under leaseback deal

Chicago-based Cresco Labs will sell two cultivation and processing facilities in Illinois to Innovative Industrial Properties, a real estate investment trust company (REIT), for $46.3 million as the multistate operator prepares for a “significant increase in demand” when recreational marijuana sales become legal in the state Jan. 1. The facilities, which will continue to be […]

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Pennsylvania governor says he’s ready to legalize recreational cannabis

Pennsylvania Gov. Tom Wolf is now in favor of legalizing marijuana for recreational use, which, if his efforts are successful, could potentially create a $1 billion-plus adult-use market in the state of 12 million people. Wolf says that that most of the state’s residents support it. He added that the state has a wealth of […]

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Chicago mayor wants to prohibit rec cannabis stores downtown

Chicago’s mayor wants the city to ban recreational marijuana stores in the central business district, a move that could hurt sales downtown. The bans are in zoning rules proposed this week by Mayor Lori Lightfoot, a Democrat. The “exclusion” zones also would prohibit adult-use MJ sales within 500 feet of schools and in residential neighborhoods, […]

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Cresco Labs, Origin House near closing cannabis deal

Cresco Labs, the Chicago-based multistate marijuana operator, said its acquisition of Canada’s Origin House, a major MJ distributor in California, is significantly closer to completion following further compliance with antitrust requirements. The two companies are now set to compete the transaction by Nov. 15 at the latest. Cresco agreed to acquire Origin House, based in […]

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Cresco Labs acquires marijuana company Tryke for $282.5 million

Chicago-based Cresco Labs said it is buying Tryke, a vertically integrated private cannabis company active in Nevada and Arizona, for $282.5 million. Here are the basics around the announcement: The $282.5 million price tag is made up of $55 million in cash and the balance in stock. Tryke posted revenue of $70.4 million in fiscal […]

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Illinois providing safety training to adult-use cannabis sellers

Illinois officials authorized 26 businesses to provide health and safety training to recreational marijuana retailers, including existing medical cannabis operators, in advance of the adult-use program launch on Jan. 1. The Department of Financial and Professional Regulation announced the list of “responsible vendors.” A statement from the agency said “at least half” the approved providers […]

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Cannabis industry insiders brace for potential fallout as health officials report new vaping deaths, issue warnings

U.S. health officials were once again cautioning the public to refrain from using vaping products as related respiratory illnesses and even deaths continued to be disclosed last week. As of Friday, officials linked at least five fatalities to e-cigarettes and electronic marijuana vaping devices. The outbreak has some in the cannabis industry expecting at least a […]

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Week in Review: New L.A. cannabis retail permit round, MMJ license race hot in MO, IL restricts electricity/water use for MJ growers & more

Los Angeles opens the next marijuana licensing round for 100 retail permits, Missouri growers and dispensary licensee applicants face fierce competition, Illinois restricts cannabis electricity and water use for MJ growers – and more of the week’s top cannabis business news. 100 MJ retail permits up for grabs in L.A. The rush is on for another […]

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