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...

SNDL Continues Skymint Purchase Despite Litigation

May 8, 2024 | Feature, Great Lakes Region, Michigan

Canadian cannabis company SNDL Inc. (NASDAQ: SNDL) said May 1 its affiliate, SunStream USA, will proceed with the acquisition of equity stakes in U.S. multistate operators Parallel and Skymint, even as legal battles remain over the targeted acquisitions. SNDL said its...

Marijuana Taxes Funding 50-Acre Park With Swim Area In Jackson County Township

May 8, 2024 | Great Lakes Region, Michigan

New playground equipment, kayak rentals, a swim area and little league playing fields are potential amenities that could be coming to a new Leoni Township park through marijuana tax funds. In December, the Leoni Township Board of Trustees purchased more than 50-acres...

Twenty Publicly Traded Cannabis Companies Lost More Than $2B In 2023 Despite Generating Nearly $9B In Revenue

May 8, 2024 | National

Twenty of the largest publicly traded marijuana companies in the U.S. lost a cumulative $2.3 billion last year, and only one of them turned a profit. That’s despite the group as a whole pulling in more than $8.7 billion in revenues, according to analysis of public...

Marijuana Edibles, Vape Pens In Michigan Schools Prompt Calls For Reform

May 8, 2024 | Feature, Great Lakes Region, Michigan

Six years after Michigan voters chose to legalize recreational marijuana, some education leaders are calling on the state to do more to combat use in schools. There's been an "alarming" rise in student consumption of pot edibles and use of vape pens, Detroit...

Next Cannabis Regulatory Agency’s Statewide Municipal Summit May 14

May 8, 2024 | Feature, Great Lakes Region, Michigan

In response to the positive feedback from the Cannabis Regulatory Agency (CRA) ‘s statewide municipality summits and in keeping with its commitment to transparent communication with stakeholders, the CRA has announced the date and time for its next statewide municipal...

Dispensaries Could Make More Money If Feds Reclassify Cannabis To Schedule III, Write Off Advertising

May 8, 2024 | National

Michigan marijuana shops could pocket more money as the U.S. Drug Enforcement Administration moves to reclassify marijuana as a less-dangerous drug. The change could exempt cannabis retailers from tax restrictions that eat into their profits. ...

Study: Osteoarthritis Patients Report Sustained Benefits From Cannabis

May 2, 2024 | International

Patients diagnosed with osteoarthritis report pain-specific improvements following their use of medical cannabis preparations, according to observational data published in the Journal of Pain & Palliative Care Pharmacotherapy. British researchers assessed the use...

Ric Flair Drip Launches Cannabis Brand In Michigan In Partnership With Goldkine

May 2, 2024 | Great Lakes Region, Michigan

Wrestling star Ric Flair's cannabis brand,Ric Flair Drip, joins forces with Michigan' cannabis brands, Goldkine, to launch its premium suite of cannabis products across the state. The initial product lineup includes a range of options to cater to diverse preferences,...

Cannabis Regulatory Agency Names Director For New State-Run Marijuana Testing Lab

May 2, 2024 | Feature, Great Lakes Region, Michigan

The Michigan Cannabis Regulatory Agency will open a new testing lab by January next year as a means to keep the state’s booming marijuana industry in check and, hopefully, push standards into a new era of safety. The state agency announced Friday...

Biden Administration Plans To Ease Marijuana Restrictions

May 2, 2024 | Feature, National

WASHINGTON DC – The Biden administration is moving forward with plans to move marijuana off the most severe classification of Schedule I to Schedule III, a source familiar with the decision confirmed to The Hill Tuesday. Rescheduling marijuana is distinct from...