CRB Monitor Database: Charting Growth
The week of May 24, Tier 1A cannabis-related businesses grew by 60, active licenses increased by 77 and beneficial owner records added another 75. However, at 4,509, approved/pending licenses dropped to a level we haven't seen in more than two years, mainly due to a records update from Massachusetts. Coupled with the 4% decline in active licenses in the last year, the data show how cannabis businesses struggle to launch and survive.
Tier 1 Cannabis-Related Business Counts
Weekly Summary: 89,468 1A CRBs + 4,926 1B CRBs = 94,394 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
4Front to Enter Voluntary Receivership
Litigation
Judge upholds Alaska’s limitations on intoxicating hemp-derived THC products
Legalization & Regulation
Texas House Rejects Senate’s Changes To Medical Marijuana Program Expansion Bill
Ohio ups recreational cannabis purchase quantities as lawmaker changes loom
Oregon Cannabis Companies No Longer Need Labor Peace Agreements to Renew Licenses
Licensing
Market Saturation May Narrow NY Retail Pipeline
More than 2 years after legalization, Delaware still has no marijuana retail stores
Markets
MediPharm Labs Expands Novel Cannabis Metered Dose Portfolio in EU, UK
Goldenberg retiring as CEO of cannabis producer Organigram
How Oregon brand Alibi is cultivating a promising New York marijuana market
Cresco Labs Opens New Sunnyside Dispensary in Pennsylvania
Marijuana MSO Ascend closes on $50 million private placement
The Cannabist Co. Completes Previously Announced Plan of Arrangement
International
Germany imports record quantity of medical cannabis in first quarter