Cannabis Business & Financial News

Cannabis businesses in North America are beginning to experience financial fallout from the ongoing coronavirus pandemic.

High Times has suspended the publication of DOPE and Culture magazines during the coronavirus outbreak; all employees have been temporarily furloughed.

Local and state lawmakers have called on Santa Clara County public health officials to re-allow in-person adult-use cannabis sales after shops were shut down last week in favor of delivery services.

Delaware officials are working on emergency rules to allow delivery services from the state’s medical cannabis dispensaries.

Legal cannabis businesses spent nearly $11 million in federal lobbying efforts during 2019 — the spending is nearly three times what the industry spent in 2018.

Canadian cannabis companies will be given fair access to the $40 billion approved for federal coronavirus response loans.

Eleven U.S. senators — all Democrats — have filed a letter asking the federal Small Business Administration to open up loans and other financial assistance to state-legal cannabis companies amid the coronavirus crisis.

Two of Iowa’s five licensed medical cannabis dispensaries were abruptly shut down without explanation from their operator nor state health officials, who said they will work to license two new retailers.

Officials in Santa Clara County have decided to shut down in-person adult-use dispensary sales; registered patients, however, can still make in-store purchases or use curbside services.

Despite pressure from advocates and at least one cannabis regulator, Massachusetts Gov. Charlie Baker said that the reopening of adult-use dispensaries in the state during the coronavirus crisis is a “non-starter.”

Colorado officials are allowing dispensaries to remain open if they implement strict social distancing rules; patients and other consumers are still encouraged to pre-order and pick up products.

State-legal hemp businesses will be allowed to access financial relief under the multi-million dollar federal coronavirus stimulus package approved last week.

Massachusetts Cannabis Control Commissioner Shaleen Title has joined advocates in calling for the state to re-open adult-use cannabis dispensaries.

High Times Holding Corp. has announced a deal to acquire California’s Humboldt Heritage Inc. and its subsidiaries Humboldt Sun Growers Guild and Grateful Eight LLC.

This summer’s NCIA Cannabis Business Summit and Expo has been rescheduled to September 29 through October 1 in response to the coronavirus pandemic.

New Day Cannabis in Newport, Washington announced it is pivoting to the production of hand sanitizer, which will be available at a discount for local hospitals and government.

Officials in Quebec and British Columbia have declared that cannabis operators are “essential” and can remain open during the coronavirus outbreak.

Cannabis companies around North America are stepping up to help however they can in the fight against the spreading coronavirus.

With an increasing number of Americans seeking shelter at home, adult-use cannabis sales appear to have plummeted after a short period of intense stockpiling.

Leafly announced it has laid off an additional 91 employees in response to economic effects from the coronavirus pandemic.

While many states have chosen to let dispensaries stay open during the coronavirus crisis, Massachusetts Gov. Charlie Baker (R) has announced the shutdown of adult-use sales.

Maine cannabis company Wellness Connection has filed suit over the state’s residency requirement, claiming the rule violates the commerce clause of the U.S. Constitution.

The Securities and Exchange Commission has launched a confidential inquiry of Cronos Group Inc, a Canadian cannabis company.

Dispensaries throughout California will be allowed to stay open as essential businesses during a state-wide stay at home order to address the spread of COVID-19.