Week of March 9 - March 15, 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?
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Hashing Out the Truth
CRB Monitor’s database growth by the numbers.
Tier 1 Marijuana-Related Business Counts
Weekly Summary (March 9-March 15, 2024):
76,063 1A MRBs + 3,969 1B MRBs = 80,032 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
Top state cannabis social equity official put on administrative leave following news investigation
California Regulators Recall JC Rad Flower for Aspergillus
Litigation
Cannabis Sellers Want $6M Fees Refunded From Mass. Town
Planet 13 recovers some ‘embezzled money’ from El Capitan Advisors
Conservative Firm Joins Bias Suit Against NY Pot Regulators
Trulieve Cannabis files lawsuit against ex-CFO contesting $350K in expenses
Colorado Cannabis Brands Hit With $5.5M Creditor Suit
NJ Panel Upholds Right Of Towns To Regulate Cannabis
Legalization & Regulation
Wyoming joins states that ban hemp-derived THC
Maryland Cannabis Admin. launches first-of-its-kind state reference lab
VP Kamala Harris Tells DEA To Reschedule Marijuana ‘As Quickly As Possible’
Iowa House passes bill adding age restrictions and capping THC for hemp products
NY Cannabis Regulators Launching Delinquent Payment Reporting Program
Attorney General Says AZ law bars smoke shops from selling delta-8 THC products
Kentucky House approves updates to medicinal cannabis program
Minnesota lawmakers filed legislation to clarify rules and restrictions on THC-infused drinks
Bipartisan Lawmakers ‘Deeply Troubled’ By ‘Unacceptable’ Marijuana Research Barriers That Persist
Virginia legislative session ends without gov signing adult-use marijuana bill
Minnesota cracking down on illegal cannabis sales before adult-use launch
THCA meets legal definition of hemp, operators say – but not everyone agrees
Bill to Allow More Black Cannabis Farmers in Florida Heads to Governor
CO Bill Would Force Social Media Platforms To Ban Users Who ‘Promote’ State-Legal Drugs
Licensing Related
Maryland Conducts Most of Its Social Equity License Lotteries
MA Starts Scrutinizing Host Community Agreements Under New Regs
Oregon regulators launch a new marijuana licensing system
California Cultivators Can Change Their License Expiration Date, Reduce Canopy
NY Governor Embeds Team of State Leaders to Assess the Office of Cannabis
Acquisitions & Mergers
Canadian, British cannabis companies Aqualitas and Cannaray to merge
High Tide to Acquire Premium Canadian Cannabis Brand, Queen of Bud for C$1M
Markets
Ascend Wellness and TerrAscend Latest to Challenge 280E
Questions Remain About Trulieve’s Supposed $113M Tax Win
Las Vegas marijuana consumption lounges prepare for new era
Jushi looks to boost efficiency as it awaits new adult-use cannabis markets
AWH Opens Third Dispensary in Pennsylvania, Its 36th Nationwide
MariMed Opens Bigger Dispensary in Town of ‘Big Things’
PharmaCann Opens Verilife South Philadelphia Dispensary
International
Canada’s finance minister warned about cannabis industry ‘financial distress’
French Authorities Confirm Flower Will Not Be Included In Medical Cannabis Program