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Federal prosecutors, industry probe municipal cannabis agreements in Massachusetts

Massachusetts’ mandated “host community agreements” (HCAs) between municipalities and marijuana businesses are under intense scrutiny, with cannabis companies complaining they are unfair and costly and federal prosecutors reportedly investigating their terms. The probe comes in the wake of a cannabis bribery case in Fall River and only a few months after the FBI announced in […]

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US House panel passes federal cannabis legalization bill in historic vote

The U.S. House Judiciary Committee on Wednesday approved a sweeping cannabis reform bill by a vote of 24-10, a milestone moment that moves the multibillion-dollar marijuana industry a step closer to federal legalization. If adopted into law, the social justice-focused Marijuana Opportunity Reinvestment and Expungement (MORE) Act of 2019 could open up huge business opportunities […]

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No one clear path around California marijuana industry’s major business woes, insiders lament

California’s cannabis industry continues to struggle with problems that remain much the same since early 2018 when the state transitioned to a legal market – and no clear solutions have yet emerged.? At a two-day marijuana industry conference in Long Beach, California, this past weekend, state regulators and industry insiders mingled to lament those familiar […]

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Chart: Oklahoma medical marijuana sales far exceed expectations

In less than a year, Oklahoma’s medical marijuana industry went from nonexistent to one of the largest and most valuable cannabis markets in the nation. According to tax receipts released by the Oklahoma Tax Commission, sales of medical marijuana in the state stood at just over $258 million through the first 10 months of 2019 […]

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Major cannabis firm MedMen slashes more than 190 jobs, unloads assets to bolster bottom line

MedMen, a Los Angeles-based multistate marijuana operator, announced it is laying off more than 190 employees to shore up its bottom line, joining a growing list of cannabis companies shedding workers amid falling MJ stock prices and a dearth of outside funding. The cash-strapped, vertically integrated company also disclosed plans to scale back its store […]

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Week in Review: Cannabis layoffs, regulators scrutinizing vitamin E acetate as vape villain, MI adult-use launch looms & more

Layoff announcements continue to weigh on the marijuana industry, state regulators focus on vitamin E acetate additive in vaporizer products as the vape crisis continues, Michigan businesses set their game plans for a December adult-use MJ launch, and more of the week’s top cannabis news. Pink slips pile up? Three well-known California cannabis companies this […]

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Cresco Labs, Origin House revamp cannabis merger as value falls more than 50% and close delayed

Cresco Labs, a Chicago-based multistate cannabis operator, and Origin House are overhauling the terms of their merger announced earlier this year, as falling cannabis stock prices and other factors slashed the value of the transaction in half to approximately $400 million. Because of the revised terms, the transaction also will now not close until approximately […]

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