CRB Monitor Database: Charting Growth
Total Tier 1 cannabis-related business records grew by 82 in the last week, all but one being Tier 1A. Active licenses, however, continued their descent, dropping by 138. License applications (pre-licenses) increased by 97.
Tier 1 Cannabis-Related Business Counts
Weekly Summary: 89,269 1A CRBs + 4,941 1B CRBs = 94,210 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
Illicit Connecticut marijuana operator hit with $5 million judgment
Michigan regulator issues lifetime ban to another marijuana business operator
Arizona marijuana regulators flag major testing lab for multiple violations
New York quarantines $10 million worth of select cannabis products
Litigation
Cannabis operator Canopy Growth hit with class action lawsuit
Judge won’t force Colorado cannabis regulator to halt alleged ‘inversion’
Legalization & Regulation
New Administration Pulls Out Old Tactic to Threaten Cannabis Business
Pennsylvania House passes first adult-use marijuana legalization bill
Licensing
Marijuana cultivation, manufacturing licenses up for grabs in Minnesota lottery
Kentucky's medical cannabis rollout maintains on track despite audit
Mergers & Acquisitions
TerrAscend Signs Agreement to Acquire 4th Dispensary in New Jersey
TerrAscend Acquires Ohio Dispensary, Entering 6th State Market
Markets
Firelands Scientific Opens 6th Ohio Dispensary – The Landing Berea
Cannabis operator Red White & Bloom restructures debt
Trulieve marijuana cultivation workers make Arizona labor history
International
Curaleaf International Secures EU Medical Device Certification