Cannabis Business & Financial News

LeafLink has announced the close of a $40 million investment round led by Peter Thiel’s Founders Fund.

After nearly a year of legal cannabis sales in Illinois, there are still zero licensed cannabis businesses in the state that are majority-owned by a person of color.

Weedmaps is set to go public with a Nasdaq listing. The deal values the company at approximately $1.5 billion.

Canopy Growth announced yesterday it was shutting down five cultivation sites — including all of its outdoor cultivation footprint — and laying off approximately 220 employees in an effort to “streamline operations.”

Missouri’s medical cannabis industry is experiencing product shortages two months after the market’s launch.

Denver cannabis regulators announced new proposals that would allow for cannabis delivery and additional social use venues, as well as new provisions that would prioritize those licenses for entrepreneurs who qualify under the state’s social equity requirements.

Hemp health and wellness company The Gift has been awarded a $10,000 grant through a partnership between Beyoncé’s charity initiative BeyGOOD and the NAACP.

New Mexico’s medical cannabis market is thriving this year despite retail restrictions imposed due to the coronavirus pandemic.

CannTrust, the embattled Canadian cannabis producer whose license was suspended amid multiple compliance violations last year, is launching two new brands after an 18-month remediation process.

Under new adult-use cannabis regulations in Massachusetts, social equity applicants will be given the first crack at delivery licenses for three years.

Cannabis regulators in Guam are at odds with the U.S. territory’s tourism officials over cannabis advertising and product sales in Tumon, a vacation hotspot.

Weedmaps has been named the official sponsor for the November 28 boxing bout between Mike Tyson and Roy Jones Jr.

Subversive Capital Acquisition Group has announced the purchasing of Caliva and Left Coast Ventures and the forming of TPCO Holding Corp., aka The Parent Company.

Adult-use cannabis shops in Maine sold $1.4 million worth of cannabis during their first month despite supply shortages and in-store purchase limits.

Colorado CBD firm Folium Biosciences is being sued for allegedly dumping hemp waste including ethanol into the grounds surrounding its facility.

Cresco Labs has reported Q3 revenues of just over $153 million. It’s a 63% quarter-over-quarter increase of about $59 million.

The Vitamin Shoppe has announced the launch of its first proprietary CBD line after it started selling the cannabinoid in stores last year.

Curaleaf reported pro forma revenue of $215.3 million for the third quarter of the year and a year-to-date managed revenue of nearly $420 million.

Ferrera Candy Co. — the maker of Nerds candy — is filing suit against California’s Tops Cannabis for trademark infringement and the alleged sale of cannabis-infused Nerds parody products.

In an effort to assist local cannabis businesses, San Francisco officials have opted to delay implementing the city’s cannabis taxes until the end of 2021.

Former NBA player Larry Hughes is partnering with former teammate Al Harrington to found two dispensaries and a cultivation/processing center in St. Louis, Missouri.

Illinois cannabis sales exceeded $100 million in October, setting yet another monthly sales record for the newly legal state.

A coalition of officials from around the U.S. has formed the Cannabis Regulators Association, a nonpartisan group dedicated to sharing resources and expertise related to cannabis and hemp regulations.

Nevada regulators have extended the expiration dates for cannabis industry employment ID cards by 90 days as the state works through a backlog of applications.