Week of May 14 - May 20, 2022

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 (May 14 - 20, 2022): 59,121 1A MRBs + 3,379 1B MRBs = 62,500 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: CRB Monitor tiers businesses that have a financial or controlling interest in a Tier 1A CRB as "Tier 1B." 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.

Mergers & Acquisitions

• Harborside Inc. Acquires Full Ownership of Seaside, California Store
• Canopy Growth Announces Plan to Acquire Jetty Extracts

Negative News

• Actor Sacha Baron Cohen drops lawsuit over ‘Borat’ marijuana billboard
• WA sues marijuana retailer for alleged $300,000 of unpaid wages
• Colorado Officials Issue Expanded Advisory Over Cannabis Products Potentially Contaminated With Mold
• Denver Judge Vacates $100 Million Decision in Marijuana Ownership Battle | Westword
• $140 million Colorado marijuana ownership dispute revived by judge

Other

• Canadian marijuana producer Canopy Growth shuts ESG unit in latest layoffs
• Ohio awards 70 provisional licenses for medical marijuana dispensaries
• DEA-endorsed marijuana research grower debuts on Nasdaq; shares soar
• Aurora Cannabis sets more closures, selling Sun greenhouse at fraction of cost
• Vermont issues first recreational cannabis cultivation license
• Illinois’ marijuana social equity program labors to become operational
• Illinois Begins Issuing Craft Grow Cannabis Licenses
• Lantern Expands Cannabis Delivery in Massachusetts to the North Shore
• Deep Roots Harvest Opens Doors of New Flagship Dispensary in Las Vegas
• Nature's Medicines Announces New Dispensary in Wareham, Mass.
• Steep Hill Michigan Achieves ISO 17025:2017 Accreditation
• Trulieve Celebrates Two Medical Dispensary Openings in West Virginia
• Black farmer medical marijuana license draws 12 applicants
• Remedy+ Announces Distribution Partnership with Greenhouse Ventures