CRB Monitor Database: Charting Growth
Cannabis business owner records jumped by another 207 the week of June 28, and Tier 1A businesses increased by 47. However, business licenses continued to drop across the board, with 87 active licenses shed, 24 approved/pending licenses lost and only three pre-licenses removed.
Tier 1 Cannabis-Related Business Counts
Weekly Summary: 89,770 1A CRBs + 4,971 1B CRBs = 94,741 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
Massachusetts revokes first cannabis testing laboratory license
New York expands cannabis recall after alleged 'inversion'
Legalization & Regulation
Hawaii's medical marijuana industry to expand after gov's about-face
Massachusetts on track to set cannabis consumption lounge rules
Delaware to launch recreational cannabis sales on Aug. 1
Licensing
Rhode Island Marijuana Regulators Seeking Applications for New Dispensary in Northern Region
Mergers & Acquisitions
Blüm Holdings Signs $5M Agreement to Acquire Northern California Cannabis Dispensary
Markets
Marijuana MSO TerrAscend is planning to exit Michigan market
2 board members resign from marijuana operator 4Front
FLUENT Appoints Former Governor to Board of Directors
Viola, Tempter’s Unite to Elevate the Cannabis Beverage Experience