Week of February 27 - March 3, 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 27 - March 3, 2023):
65,785 1A MRBs + 3,644 1B MRBs = 69,429 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
Marijuana company Atlas Global, Snoop Dogg sign international licensing deal
Cansortium Announces Closing of US$3 Million Private Placement
Cannabis entrepreneurs partner with Bubba Kush creator to offer unique genetics
Negative News
Lawsuit alleges inflated THC potency in Arkansas medical cannabis
$2.5 million of illegal cannabis plants seized in San Bernardino
Virginia fails to establish legal marijuana market
Legalization & Regulation
Tennessee lawmakers reject medical marijuana bill
Las Vegas approves cannabis consumption lounge rules
Minnesota Marijuana Legalization Bill Approved By More House And Senate Committees
North Carolina Senate Approves Medical Cannabis Legalization Bill
Oklahoma adult-use cannabis vote could spur market expansion – or MMJ crackdown
Bill making Delta-8 illegal passes West Virginia State Senate
Licensing Related
Court orders Missouri to grant marijuana grow license after technical oversight
New York regulators increase adult-use marijuana retail licenses to 300
International
Government budgets $50,000 for work on legalisation of cannabis
Greens Announce Plan to Legalise Cannabis in Next Term of Parliament
Other News
Cannabis producer Cronos Group ends year with $168.7 million loss
Marijuana firm Bright Green’s immigrant fundraising plan draws scrutiny
Cannabis lender Chicago Atlantic extends credit facility by one year
Marijuana MSO MariMed appoints CEO, board chair
Metrc threatens to close accounts of Michigan cannabis firms over late payments
Plant scientist unifies cannabis breeding practices for multistate operator
Phoena Announces Resignation of CEO, Greg Guyatt and Appoints Corné Melissen as Interim CEO
BGP Acquisition Corp. announces completion of CRAFT 1861 Global name change and amendment to credit facility
Curaleaf is the First Dispensary to Begin Adult-Use Cannabis Sales in Hartford, CT
Five medical marijuana dispensaries given green light to open in Gulfport
First Month of Connecticut Adult-Use Sales Shows a Remarkable Consistency in Demand
California Department of Cannabis Control releases cannabis enforcement operation statistics for 2021 and 2022, reports surge in efforts to dismantle illicit market