Recreational Marijuana News


How US cannabis growers are keeping a tight lid on costs as recession looms

As the coronavirus pandemic plunges the U.S. economy into a sharp downturn, cannabis cultivators are managing finances by rethinking capital improvements and finding any area possible to lower costs. Although demand remains strong for marijuana in many state markets, prudent cannabis cultivation executives are planning for the worst and tightening their belts. Some have become more self-reliant […]

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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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Michigan expands parameters of marijuana social equity program

Michigan is again revamping its marijuana social equity program in an attempt to draw more entrepreneurs impacted by the war on drugs into the industry. To date, the program has awarded only two recreational marijuana business licenses – for an event organizer and a retailer – though 172 applicants have been deemed eligible for permits, […]

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Cannabis chain Strawberry Fields says no to being acquired in $31 million deal

Colorado Springs, Colorado-based Strawberry Fields terminated a $31 million agreement in which Denver-based Schwazze would have acquired the marijuana retail chain. Strawberry Fields filed paperwork with the U.S. Securities and Exchange Commission to terminate the arrangement, according to Denver alt-weekly Westword. Schwazze, a vertically integrated marijuana company, and Strawberry Fields agreed to the stock and cash deal in […]

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Massachusetts recreational cannabis stores to reopen in a week

After a two-month shutdown in response to the COVID-19 outbreak, Massachusetts adult-use marijuana retail stores can once again serve customers starting May 25 – though sales will be limited to curbside pickup and online or telephone orders. The announcement is a major development for cannabis store owners, who: Had worried they might not be allowed […]

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Week in Review: US House passes relief bill with cannabis banking, MO permit probe extends, ME lifts residency mandate & more

The U.S. House of Representatives approved legislation allowing banks to serve cannabis companies by wrapping the measure into a $3 trillion coronavirus economic relief package. The massive economic stimulus bill, proposed by House Democrats, includes language from the SAFE Banking Act, which was previously approved by the House last September and is aimed at guaranteeing […]

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California governor delays proposed cannabis regulatory changes

The coronavirus has further derailed systemic reforms to the California regulatory agencies that oversee the state’s marijuana industry under a revised state budget plan. In the budget proposal released Thursday, Gov. Gavin Newsom said that his previously announced goals – merging the state’s three regulatory agencies and streamlining marijuana tax collections – would have to be […]

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Massachusetts preparing to allow recreational marijuana delivery

Applications for Massachusetts cannabis businesses that want to deliver recreational MJ will be available later this month, even though adult-use sales are on hold because of the coronavirus pandemic. The state’s Cannabis Control Commission will release license applications on May 28 for businesses hoping to transport marijuana from retailers to residences, Boston.com reported. Deliveries wouldn’t begin until adult-use […]

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Cannabis MSO Jushi cancels California acquisition, moves forward in Illinois

Florida-based multistate operator Jushi Holdings terminated the acquisition of an adult-use marijuana store in California and launched recreational sales at a shop in Illinois. According to a news release, Jushi entered into an agreement last fall to purchase an unidentified marijuana retailer in San Diego for $12 million, but the deal failed to close and Jushi terminated the acquisition […]

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Week in Review: High Times switches CEOs again, Florida court mulls cannabis revamp, solid sales in IL, OK & more

Los Angeles-based High Times Holding Corp. replaced CEO Stormy Simon after only four months on the job, marking the third time in a little more than a year the cannabis magazine publisher has hired a chief executive. Simon is being replaced by Peter Horvath, who most recently ran Ohio-based cannabis retailer Green Growth Brands. He also has […]

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Nevada OKs resumption of in-store sales for some marijuana retailers

Approved recreational cannabis retailers in Nevada will be allowed to conduct in-store sales starting Saturday as part of the governor’s broader plan to open up the state amid the COVID-19 pandemic. Nevada regulators had softened rules for marijuana stores as the coronavirus outbreak developed, at first only allowing delivery and then permitting curbside sales. Now, effective May […]

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Could economic slide lead to more California cannabis industry opportunities? Some industry experts say yes

The economic downturn stemming from the COVID-19 crisis is going to leave government officials at all levels scrambling for fiscal stimulation nearly anywhere they can find it to offset lost tax revenues and jobs. As a consequence, some in the California cannabis industry see a window to expand marijuana businesses’ footprints around the state. “A lot of […]

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