CRB Monitor Database: Charting Growth
It was another slow growth week for the cannabis industry. Total Tier 1 cannabis-related business records grew by only 47, and beneficial owners increased by 100 during the week of Aug. 9. Active cannabis business licenses increased by 33 as approved/pending licenses transitioned over.
Tier 1 Cannabis-Related Business Counts
Weekly Summary: 93,361 1A CRBs + 5,019 1B CRBs = 98,380 total
1A CRBs
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
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.
Cannabis News of Note
A selection of relevant cannabis-related news.
Adverse Media
OMMA Suspends Greenleaf Labs’ License
D.C. arrests four in latest illegal drug storefront shutdowns
Massachusetts sheriff indicted for allegedly extorting cannabis retailer
Rhode Island Cannabis Control Commission revokes cultivator's license after arrest
Maryland MSO cannabis dispensary fined for advertising violations targeting minors
Litigation
Another blow for New York, marijuana social equity in federal court
Marijuana shops sue New York after they were allowed to open too close to schools
Legalization & Regulation
Marijuana industry investments pay off as President Trump considers rescheduling
Texas Medical MJ Rules Will Let Doctors Recommend New Qualifying Conditions for Patients
Violations and mismanagement uncovered in audit of Cannabis Control Commission
Texas Senators Pass Hemp THC Ban Bill After Governor Convenes Second Special Session
GOP Congressman Files Bill To Reschedule Marijuana As Trump Considers Decision On Reform
Missouri cannabis regulators target rule breakers, predatory contracts
Licensing
Texas starts accepting new medical marijuana applications
OMMA Launches New 'Managing Owner' Licensing Requirement
Mergers & Acquisitions
High Tide to Become Major Player in German Medical Cannabis Market Through €27.2M Acquisition
Markets
Body and Mind Inc. Advances Strategic Shift with Dispensary Sales and Market Refocus
Tilray Medical Forms Strategic Partnership in Italy to Broaden Access to Cannabis Extracts
Cannabis brand Cookies tries its hand in the alcohol market
Canopy Growth Launches Cannabis Brand 7 Acres in Australia
Klutch Cannabis Opening 5th Ohio Dispensary in Northfield
Cresco Labs Closes $325 Million Senior Secured Term Loan Refinancing