Cannabis Business & Financial News

The Social Equity and Workers Association is suing Los Angeles over the city’s first-come, first-served cannabis licensing process.

Oregon cannabis regulators have announced random lab testing procedures for cannabis products in the state; the random tests will search for undisclosed ingredients and potential additives.

The Vallejo Holistic Health Center in Vallejo, California is employing a “virtual budtender” to fulfill customer orders while maintaining social distance; the process includes a 6-foot long pole with a basket attached.

Congressional lawmakers are standing up for cannabis businesses’ right to access traditional financial services and the federal coronavirus stimulus packages that are currently unavailable to the industry.

Hexo, a Canadian cannabis producer, and beer-maker Molson Coors Brewing Company have partnered for a CBD beverage joint venture in Colorado.

An early investor for MedMen is seeking deeds to the Los Angeles mansions of the company’s former CEO, co-founder, and current Chief Strategy Officer after repayment requests were allegedly ignored.

A Massachusetts judge ruled that Gov. Baker acted within his authority when he ordered adult-use cannabis dispensaries to close during the coronavirus pandemic.

Canopy Growth Corp. has announced a series of changes for the Canadian company, including shutting down all of its operations in Africa, moving to an asset-light model in Latin America, and exiting the U.S. hemp cultivation scene.

Aurora Cannabis Inc. announced a stock consolidation plan this week after its stock traded at less than $1 for over 30 days.

As the coronavirus crisis continues to upset cannabis events and networking opportunities, the industry’s largest trade show is partnering with the largest business-focused online cannabis network.

An early investor in Massroots is being sued by the SEC which may lead to forced repayment of $3.2 million in profits booked from 2015-2016.

A former Amazon employee who was fired for using medical cannabis has won a federal court decision that will send the resulting lawsuit back to New Jersey’s Supreme Court, where he has a much stronger shot at winning the case.

Denver officials have approved rules establishing a new research and development business license for the cannabis space.

Colorado’s emergency pandemic rules allow for the online purchase of adult-use cannabis products, but only via pick-up — recreational delivery services are still not available throughout the state.

Cresco Labs announced it will start prioritizing recruiting new employees from the industries most significantly impacted by the coronavirus crisis.

The Maryland town of Hancock is being forced to pay back a $600,000 federal renovation loan after the town rented the rehabbed facility to a medical cannabis company.

Maine officials are choosing to delay the rollout of adult-use cannabis sales indefinitely in light of the COVID-19 pandemic.

In preparation for adult-use cannabis sales later this year, Maine has implemented the Metrc seed to sale tracking system.

Six cannabis business organizations have sent a letter asking governors to provide state-based loans for the industry as the federal coronavirus aid program specifically omits the cannabis space from receiving any assistance.

Massachusetts Gov. Charlie Baker is being sued for shutting down the state’s adult-use cannabis dispensaries amid the coronavirus pandemic.

After two of the state’s five dispensaries recently shuttered without warning, Iowa regulators now say it will take a year or more to license new businesses in their place.

Businesses that operate adjacent to the legal cannabis industry will be ineligible for the federal coronavirus loan assistance plan signed by President Trump last month.

March cannabis sales in Oregon set a new monthly record for the state at $84.5 million; business owners, however, still voice concerns about an uncertain future.

Canadian cannabis company Organigram Holdings Inc. announced the temporary layoff of about 45 percent of its workforce, approximately 400 employees.