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CRB Monitor | Weekly Update | April 27 - May 3, 2024
Published on May 8, 2024

CRB Monitor Database: Charting Growth

Continued licensing activity in New York led to a jump in approved/pending licenses of 418 in the last week. Tier 1A cannabis-related businesses also climbed by 305. However, active licenses fell by 180.

Tier 1 Cannabis-Related Business Counts

Weekly Summary: 77,543 1A MRBs + 4,019 1B MRBs = 81,562 total


1A CRB-050624
Tier 1A defined: Businesses in this tier literally touch the cannabis plant at some point along the supply chain from "seed to sale," and are generally licensed by a government agency or regulator. Effectively all of their actual or expected revenue is derived from the cultivation, production, testing or sale of cannabis. 

1B CRBs 

1B CRB-050624
Tier 1B defined: Businesses that have a financial or controlling interest in a Tier 1A CRB. CRB Monitor generally considers 1B businesses as seemingly unrelated businesses highlighted as red flags by FinCEN in its marijuana banking guidance and are similar in nature to individual beneficial owners. 

Cannabis Business Licenses

Note: Inactive licenses, unlicensed, and unknown licenses have been excluded.

Beneficial Owners Count

Beneficial owners defined: For beneficial owners, each economic owner or controlling person is classified into one or more categories based on their relationship to the linked CRB including: (1) Owner/Investor, (2) Board Member, (3) Corporate Officer, (4) Executive, (5) Non-commercial Registered Agent or (6) Senior Manager. 

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Cannabis News of Note

A selection of relevant cannabis-related news. Items marked with logo_color_markonly 20px indicate links to licensed business profiles in the CRB Monitor database.

Adverse Media

Arkansas Revokes Green Springs Medical’s License logo_color_markonly 20px
'Bud And Breakfast' Cannabis Scammer Gets 2 Years In Prison
Neptune Wellness insider trading case settled logo_color_markonly 20px
Consumer protection warning: Holland Cannabis Company logo_color_markonly 20px
Arizona Dept. of Health Recalls The Flower Shop’s Product for Possible Fungus


Missouri judge rules local governments can stack sales tax on marijuana logo_color_markonly 20px
Financier Says Colo. Cannabis Growers Made Off With Plants logo_color_markonly 20px logo_color_markonly 20px
Saugerties woman seeking cultivator license sues NY pot regulators
NJ’s recreational cannabis law doesn’t violate federal law, appellate court says
Companies tied to out-of-state firms appeal revocation of social-equity licenses in MO logo_color_markonly 20px logo_color_markonly 20px
MedMen receiver sets date to meet with creditors after cannabis MSO’s bankruptcy filing logo_color_markonly 20px

Legalization & Regulation

Six States Pass Hemp Laws; More Wait in the Wings
Michigan regulators updated best practices guide on compliance for marijuana businesses
MN senate green lights speedier timeline for launching licensed cannabis businesses
Changes to Maine's cannabis laws around the corner
Maryland governor swore in the Senate-confirmed director of the Maryland Cannabis Administration
CO Bill That Would Have Muzzled Social Media Speech on State-Legal Drugs Is Dead for the Year
Cole, Blumenauer Say DOJ May Update Banking Guidance Following Rescheduling
Farm Bill framework seeks to define hemp, doesn’t mention delta-8 THC
Schumer And Other Democratic Senators File Bill To Federally Legalize Marijuana
More oversight could be coming to PA medical marijuana labs
CT House votes to set standards on THC products

Licensing Related

Kentucky Announces Fall Lottery for 74 Medical Licenses
Illinois issues 35 conditional social equity adult-use marijuana licenses
US cannabis business licenses down 6% in first quarter of 2024
End of social equity cannabis retail application period in D.C. brings supply questions

Mergers & Acquisitions

SunStream USA Poised to Acquire Cannabis Assets logo_color_markonly 20px logo_color_markonly 20px logo_color_markonly 20px
Planet 13 Receives Approval to Sell Florida License, Acquire VidaCann for $49 Million logo_color_markonly 20px logo_color_markonly 20px
Cookies to acquire ‘related’ cannabis assets in Florida logo_color_markonly 20px 


Cannabis Companies Getting Nervous About PPP Loan Investigations logo_color_markonly 20px
Wholesale cannabis prices beating expectations for 2024
New era for pot regulation leaves old problem: Many cannabis companies can’t find a bank
Cannabis retailer High Tide appoints new CFO logo_color_markonly 20px
Auditor KPMG dumping cannabis clients over ‘elevated risk’
Teamsters unionize another Cresco marijuana store in Illinois logo_color_markonly 20px
First North Carolina Medical Cannabis Shop Opens In Cherokee Territory
California City in Cannabis Retail Desert Welcomes 1st Dispensary logo_color_markonly 20px
Verano Opens 3rd Connecticut Social Equity Joint Venture Dispensary logo_color_markonly 20px


Germany Seeks To Launch Marijuana Sales Pilot Program Through Regulations, Report Says

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