Week of February 10 - February 16, 2024
Do you love data and staying up to date with the latest cannabis-related headlines? Are you searching for industry news to inform your institution’s approach to cannabis risk and compliance?
You've come to the right place.
Hashing Out the Truth
CRB Monitor’s database growth by the numbers.
Tier 1 Marijuana-Related Business Counts
Weekly Summary (February 10- February 16, 2024):
76,003 1A MRBs + 3,946 1B MRBs = 79,949 total
1A MRBs
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 MRBs
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.
Marijuana 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.
News of Note
A selection of relevant cannabis-related news. Items marked with 
indicate links to licensed business profiles in the CRB Monitor database.
Adverse Media
Ohio FBI busts $2 million hemp wine pump and dump scheme, sends 8 to prison
CO Regulators Warn About Mold, Aspergillus in Melody and Co. Management Flower
California regulators recall cannabis inhalers
Litigation
$17M Eaze Penalty Casts Dark Shadow on Cannabis Credit Card Payments
New York village sues marijuana stores affiliated with Saint Regis Mohawk Tribe
SEC Says Bankruptcy Doesn't Stop Crowdfunding Fraud Case
Georgia $150M class action lawsuit accuses MSOs of selling marijuana as hemp
Md. Cannabis Regulators Urge Court Not To Halt Licensure
Cannabis Co. Says Conn. Wrongly Denied Social Equity Status
Cannabis Fintech Withheld $500K In $7.5M Deal, Suit Says
Legalization & Regulation
States Not Waiting for Hemp Cannabinoid Lawsuits to Resolve
Small cannabis businesses subject to new ownership reporting rule
Bill would meter water use by marijuana grows; growers say hurts local owners
Maryland bills that would allow dispensaries to open near liquor stores cause concern
Bill introduced in W. Va. to legalize edibles for patients prescribed marijuana
Walz supports changes to Minnesota’s recreational marijuana law to strengthen ‘social equity’
Arizona House Committee Approves Bill To Allow Interstate Marijuana Commerce
South Carolina Senate Passes Medical Marijuana Legalization Bill, Sending It To House
US Virgin Islands pushes forward on stalled law allowing recreational marijuana use
How Virginia’s Competing Marijuana Sales Bills Differ On Licensing, Equity, Taxes And More
Legal Opinion: Moving Marijuana To Schedule III Would Not Violate International Treaties
Delaware Adult-Use Marijuana Shops Will See Delayed Launch Timeline, Top Regulator Says
California Bill May Change State’s Cannabis and Hemp Industries
Wisconsin GOP medical marijuana legalization bill dead for now
Bipartisan Cannabis Decriminalization Bill Introduced in Wyoming House of Representatives
Maine Lawmaker Pushes Governor To Fire State’s Top Marijuana Regulator
The Congressman Who Reps Cannabis Reform On Capitol Hill
Licensing Related
Michigan Cannabis Regulators Take Disciplinary Action Against Licensees Throughout the State
Thrive Cannabis Receives Nevada’s 1st Consumption Lounge License ‘Smoke and Mirrors’
New York marijuana regulators award 109 business licenses
Regulators Approve 36 New Jersey Cannabis Licenses
Cannabis M&A: Will California Allow License Transfers?
Arizona looking into if investors used 'predatory tactics' on social equity marijuana license winners
NJ Governor Marks ‘Huge Milestone:’ Over 100 Dispensaries Now Open
Markets
Michigan Growers Continue to Struggle as Market Levels
Verano Expands Pennsylvania Retail Footprint With Opening of Zen Leaf Norristown
Blüm to acquire 3 California cannabis stores for $9.7 million
Canadian cannabis producer Organigram Holdings to focus on U.S. market
Real estate getting easier to access: Q&A with Story Cannabis CEO Jason Vedadi
Revolution Cannabis Workers in Illinois Ratify Contract with Teamsters Local 77
Guam Dept. of Finance certifies $517,868 in cannabis revenue
International
Ukraine’s Zelenskyy signs medical cannabis bill into law
British Columbia allows promotion of outdoor cannabis consumption areas
High Tide Signs Limited Cannabis Distribution Agreement With Manitoba Liquor and Lotteries
Illicit Market Estimated to Account for 25% to 50% of Canada’s Cannabis Sales