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CRB Monitor | Weekly Update | August 17 - August 23, 2024
Published on August 28, 2024

CRB Monitor Database: Charting Growth

Tier 1A cannabis-related businesses grew by 8% since the previous quarter and 14% since last year. Active licenses continue to decline, losing 379 (0.7%) since last quarter and dropping by nearly 11% since last year. However, 15,716 approved/pending and pre-licenses wait in the wings.

Tier 1 Cannabis-Related Business Counts

Weekly Summary: 84,067 1A CRBs + 4,052 1B CRBs = 88,119 total

1A CRBs

1A CRB-082824
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-082824
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

CBL-082824
Note: Inactive licenses, unlicensed, and unknown licenses have been excluded.

Beneficial Owners Count

BOR-082824
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

California Recalls NHPR Flower Product for Aspergillus logo_color_markonly 20px
California Recalls Flor Flower Products for Aspergillus logo_color_markonly 20px
Maryland cannabis companies fined $8,000 for violating advertising rules logo_color_markonly 20px logo_color_markonly 20px

Litigation

Cannabinoid Co. Sacked Exec For Flagging Fraud, Suit Says logo_color_markonly 20px
Mich. Pot Dispensary Chain Sued Over Seller Tip Theft Claims logo_color_markonly 20px
Appeals Court Drops Alabama Medical Cannabis Commission from Lawsuits

Legalization & Regulation

Hemp Legislation, Litigation Heat Up in 2024
OK Rep. Accuses Regulators of Financial Mismanagement
DEA Schedules Hearing On Marijuana Rescheduling, Delaying Final Rule Until After Election
Marijuana dispensaries in Michigan now subject to surprise inspections

Licensing Related

Mass. Sees a Jump in Inactive Licenses logo_color_markonly 20px logo_color_markonly 20px logo_color_markonly 20px
Nevada reissues 6 permits for cannabis consumption lounges after hiccup
Glass House to challenge California’s recall of its marijuana products logo_color_markonly 20px
South Dakota Increases Fees for Medical Marijuana Business Licenses by 70%
Despite governor’s report, most Illinois social equity businesses not operational yet
Hundreds of New York CAURD shops still trying to open
New York won’t process 2023 adult-use marijuana applications until 2025
Value of a cannabis license varies with type, market age
Out-of-state applicants swarm Minnesota’s early cannabis license window

Markets

Ohio Medical Prices Jump as Adult Use Launches
The Cannabist Co. selling Florida medical marijuana grows, dispensaries for $16.4M logo_color_markonly 20px logo_color_markonly 20px logo_color_markonly 20px
Dutchie Launches Robust Integration for BioTrack Florida logo_color_markonly 20px
Verano Closes Acquisition of Arizona and Virginia Subsidiaries of The Cannabist Co. logo_color_markonly 20px logo_color_markonly 20px
Arizona’s cannabis market losing sales buzz
TerrAscend Announces $10 Million Share Repurchase Program logo_color_markonly 20px
Million-dollar dispensaries could soon be worthless
Why Does This Jar of (Legal) Weed Cost $60? Hint: Taxes
AFC Gamma provides credit totaling $18 million to 3 cannabis operators logo_color_markonly 20px

International News

Leafly Partners with Uber Eats to Deliver Cannabis in Alberta, Canada logo_color_markonly 20px

 

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