Day: September 8, 2020

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Multistate operator Columbia Care agreed to acquire Los Angeles-based marijuana grower and retailer Project Cannabis in a deal valued at $69 million. “The acquisition of Project Cannabis enables Columbia Care to materially increase its scale throughout California and position its wholesale and manufacturing operations as one of the leading suppliersContinue Reading

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As often happens after winners of state cannabis licenses are announced, losing applicants for retail licenses in Illinois are going to court to delay awarding the permits. Illinois announced finalists for 75 retail licenses last week, but only 21 total applicants scored high enough to make it, calling into questionContinue Reading

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The number of financial institutions serving marijuana-related businesses declined slightly in the first six months of this year, according to federal data, likely because of COVID-19 and other factors. But anecdotally, one industry expert said, banks and credit unions seem more willing to loan money to well-run marijuana businesses. TheContinue Reading

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An inquiry into Maryland’s 2019 medical marijuana licensing process found “no evidence of bias or undue influence,” according to a 40-page investigative report released last week. The licensing round, which was designed to expand minority participation in the state’s MMJ program through four cultivation and 10 processing licenses, spurred allegationsContinue Reading

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After a weeks-long shortage of high-THC medical cannabis flower in Malta, at least one variety became available again as of Friday, Sept. 4, Marijuana Business Daily has confirmed. “Thankfully, one of the only two locally licensed brands, Bedrocan, made it to the pharmacies last Friday, while Pedanios should be inContinue Reading

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Aurora Cannabis has promoted Miguel Martin to CEO, while warning investors to expect declining quarterly revenue and write-downs of up to 1.8 billion Canadian dollars ($1.37 billion) when it reports fourth quarter results in two weeks. Martin, former CEO of hemp company Reliva, joined Aurora as chief commercial officer afterContinue Reading