Week of February 18 - 24, 2023
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 (February 18 - 24, 2023):
65,706 1A MRBs + 3,642 1B MRBs = 69,348 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.
Mergers & Acquisitions
Vertically integrated cannabis operators TPCO and Gold Flora to merge
Alleaves, Leafly ink partnership to expand marijuana product offerings
Negative News
Michigan suspends marijuana processor, warns products were made with illicit THC oil
Lehigh County man charged after 300 pounds of marijuana seized in raid of storage facility near Hamburg
Sacramento officials deny request to boot cannabis dispensary retailer
Scotts Miracle-Gro unit, TerrAscend chair settle dispute over NY marijuana firm
Legalization & Regulation
Virginia Republicans move to defund state marijuana regulator
Delta-8 brouhaha creates marijuana opportunity in next federal Farm Bill
Texas localities could legalize adult-use marijuana under reintroduced bill
Iowa House Democrats introduce recreational marijuana legalization bill
North Carolina Medical Marijuana Bill Approved By Third Senate Committee In Three Days, Heading To Floor
New Hampshire House Passes Marijuana Legalization Bill That’s Sponsored By Top Republican And Democratic Lawmakers
Licensing Related
Mendocino growers ask California to address county’s cannabis licensing
New York Governor Visits State’s First Legal Marijuana Retailer Outside Manhattan—But Doesn’t Buy Anything
International
Government expands access to medical cannabis through authorization of master formulas
Canadian adult-use cannabis sales jump nearly 18% in 2022, hitting CA$4.5 billion
Other News
Budtenders at California cannabis retailer join Teamsters
Local Control 'Cannot Work' in California Cannabis System
California’s annual cannabis sales fell in 2022 for the first time since adult-use launch
Marijuana fintech firm Green Check Verified raises $6 million
Cannabis firm Canopy raising $95 million in convertible debt offering
Marijuana MSO MedMen evaluating sale of assets in three states
Michigan regulators published a bulletin on marijuana business compliance best practices
Oregon economists predict bigger revenues than expected but urge caution in budgeting
IDFPR Warns Individuals of Social Equity Criteria License Lottery Scams
Indigenous cannabis entrepreneurs underrepresented in Canada, data suggests
Cannabis businesses make push to showcase Black-owned brands
Cannabis firm Canopy raising $95 million in convertible debt offering
Arizona Retailers Sold More Than $1.4 Billion In Marijuana Products In 2022, With December Seeing Record Recreational Sales
Alaska Supreme Court Orders Marijuana Records To Be Removed From Conviction Database
Federal Health Agency Issues CBD Warning, While Noting Dispensary Products May Be Safer Than Those Purchased Elsewhere