News and Information about the Business of Cannabis

Receiver Appointed For Red White & Bloom Cannabis

A Michigan circuit court has appointed a receiver for the assets of PharmaCo, a property of Canada-based cannabis multistate operator Red White & Bloom Brands. PharmaCo, which was acquired in February 2022 by Red White & Bloom...

As Michigan’s Cannabis Market Continues To Grow, Health Problems Grow With It

In the five years since Michigan legalized adult-use cannabis, the plant and its effects — positive and negative — have received increasing attention and mainstream acceptance. As cannabis has emerged from the shadows, more products have entered the market,...

Michigan Eclipses $10 Billion In Adult-Use Cannabis Sales Since Went Legal In 2019

Michigan licensed retailers sold $264.7 million in adult-legal cannabis in December pushing Michigan past the $3 billion annual sales mark for 2024, to $3.27 billion, the Cannabis Regulatory Agency reported. That represents a 9.9% increase from the $2.98...

Michigan Cannabis Market Hits Record Sales Amid Low Weed Prices And Rise In Cultivation Licenses

Oct 9, 2024 | Feature, Great Lakes Region, Michigan

Michigan's cannabis market is experiencing a major transformation, with retail sales surging while flower prices continue to drop. As MJBizDaily reported, since the start of adult-use sales in December 2019, the average retail price for an ounce of...

Ohio Adult-Use Sales Near $100 Million In First Two Months

Oct 9, 2024 | Feature, Great Lakes Region

According to the most recent figures from the Ohio Division of Cannabis Control, there have been just over $98 million in non-medical marijuana sales since they began in the state on August 6. Erick Rodriguez, vice president of retail for the Cannabist Company,...

Senator Paul Introduces Bill That Would Increase THC Limit In Hemp To 1 Percent

Oct 9, 2024 | National

U.S. Sen. Rand Paul, a Kentucky Republican, has introduced a bill in Congress that would raise the THC level on hemp products and lightly regulate them nationally. The Hemp Economic Mobilization Plan (HEMP) Act, among other requirements, would define “hemp” as...

Online Auction Oct. 25 For Skymint Receivership Property And Cannabis

Oct 9, 2024 | Feature, Great Lakes Region, Michigan

Gene R. Kohut of Trust Street Advisors, as court-appointed receiver of Green Peak Industries (aka Skymint), will conduct an auction for the sale of cannabis equipment and/or personal property assets owned by Skymint, one of the largest network of dispensaries in...

Study: Sustained Use of Medical Cannabis Is Not Associated With Changes in Either Brain Morphology or Cognitive Performance

Oct 9, 2024 | National

Adults who regularly consume medical cannabis products do not experience any significant adverse changes in either brain morphology or cognitive performance, according to longitudinal data published in the journal JAMA (Journal of the American Medical...

Court Ruling Deals Blow To Michigan’s Cannabis Black Market And Could Lead To Higher Legal Prices

Oct 9, 2024 | Feature, Great Lakes Region, Michigan

The Michigan Appeals Court effectively plugged a loophole in Michigan’s marijuana laws in a Tuesday ruling, unrestricting prosecutors' ability to pursue felony charges against individuals possessing and distributing large amounts of marijuana without a state-issued...

Michigan Ranked 12th Among States With The Highest Weed Consumption In The US

Oct 9, 2024 | National

The United States of America is the country that smokes the most weed in the world. As we mentioned in our article – 20 Cities with the Highest Weed Consumption in the US – the American legal cannabis industry fared well in 2023 as legal sales...

Cannabis Market Update: Is This The Bottom You Were Waiting For?

Oct 9, 2024 | National

Without question, the US cannabis industry is in trouble, at least if you judge from the continuing closure of cultivation facilities and dispensaries and stock prices of the companies in our portfolio purchased in January 2022. At that time, StockWatchIndex (SWI)...

What Will The CBD Landscape Look Like If Congress Forces FDA To Finally Write Rules?

Oct 9, 2024 | National

With a suite of bipartisan bills moving through Congress that could be pillars in a regulatory framework for CBD, what would it look like if they all became law? First of all, should any or all of the measures pass, the U.S. Food and Drug Administration (FDA)...

TerrAscend Secures Second And Final $26M Loan, Reduces Debt In Michigan

Oct 2, 2024 | Great Lakes Region, Michigan

TerrAscend Corp. TSNDF cannabis company announced that it has completed the second and final draw of $26 million as part of its $140 million senior secured term loan. The loan, managed by FocusGrowth Asset Management, LP, was initially...