MJBizDaily | Cannabis Industry Financial & Legal News
Nov 6, 2024 · By Margaret Jackson • November 7, 2024. Republican lawmakers will get chance to prove whether GOP is good for cannabis. By Chris Roberts • November 6, 2024. MOST POPULAR THIS MONTH. Cannabis pioneer Sundie Seefried looks at the evolving banking landscape. Wyld dominates edibles category in adult-use marijuana markets.
U.S. cannabis sales by state - MJBizDaily
Feb 6, 2023 · For example, legal recreational and medical cannabis sales in the U.S. are expected to reach $33 billion this year after posting strong growth in 2021. That growth has largely been driven by recently opened adult-use markets in states such as Arizona and New Mexico. And growth will continue into 2023 as large adult-use markets, such as New York ...
Native American tribes bridge gap in Minnesota cannabis market
Oct 11, 2024 · Although recreational cannabis was legalized in Minnesota in 2023, the state licensing process is just getting started. The first state-licensed businesses are not expected to open until 2025, giving Minnesota tribes an opportunity to supply a demand that is projected to reach $1.76 billion by 2029, according to the 2024 MJBiz Factbook.
Michigan marijuana sales boom fueled by low flower prices
Oct 3, 2024 · ADVERTISEMENT. The average retail price for an ounce of flower in Michigan has plunged more than 80% since adult-use sales started. The average price for an ounce of flower was $80.14 in August 2024, according to data from Michigan’s Cannabis Regulatory Agency (CRA), down 84.5% from $516.21 per ounce in December 2019.
Dutch medical marijuana producer Bedrocan returning to Canada
Oct 10, 2024 · (This story was updated at 10:35 a.m. Oct. 11 with Bedrocan declining comment.) Medical marijuana producer Bedrocan International is returning to the Canadian market through the purchase of a facility in Scarborough, Ontario.. Health Canada recently granted the Veendam, Netherlands-based company a cultivation license to grow standardized medical cannabis for Canadian patients, according to a ...
Commercial landlords ease stance on renting to cannabis operators
Oct 9, 2024 · Impact of rescheduling. Moving marijuana from Schedule 1 – the federal government’s list of the most dangerous drugs – to Schedule 3 would lower cannabis operators’ tax liabilities and open the door for more lenders to enter the space, Northmarq’s Tremblay said.. If investors can get more traditional lending terms, more buyers will consider cannabis properties because of attractive ...
Cannect Wellness is latest example of cannabis companies …
Oct 8, 2024 · Illinois craft marijuana producer Cannect Wellness raised $7 million in its second equity funding round, executives told MJBizDaily. According to finance experts, capital raises in the cannabis sector have been slow over the past year, due, in part, to the expense of debt financing. Cannect Wellness’ latest funding round brings the company ...
Eaze winding down cannabis delivery operations as new owners …
Oct 7, 2024 · The CEO of California’s largest cannabis delivery service, Eaze Technologies, said its parent company is winding down operations and new ownership will determine if the business continues. “Stache LLC will be winding down operations, with the full closure expected to take place on or around December 31, 2024,” Eaze CEO Cory Azzalino told ...
Fed rate cut could be crucial as cannabis debt maturity looms
Oct 4, 2024 · According to Viridian Capital Advisors’ latest report, 79% of public cannabis companies’ debt matures after 2025, with a substantial refinancing wave anticipated in 2026-27. Should this easing cycle persist, the industry could be well-positioned to benefit substantially when refinancing opportunities arise.
Major marijuana markets still lack controls for suspicious lab results
Sep 30, 2024 · Major marijuana markets still lacking controls for suspicious lab results. Help shape our annual “Diversity in Cannabis” special report by filling out our business survey here! The California Department of Cannabis Control revoked a commercial testing laboratory’s permit a month ago after tests at state-run labs discovered a harmful ...