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CRB Monitor | Weekly Update | May 20 - 26, 2023
Published on June 1, 2023

 Week of May 20 - May 26, 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? 

You've come to the right place.

Hashing Out the Truth

CRB Monitor’s database growth by the numbers.

Tier 1 Marijuana-Related Business Counts

Weekly Summary (May 20 - May 26, 2023):  

    71,891 1A MRBs + 3,676 1B MRBs = 75,567 total


1A MRB 052623
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 

1B MRB 052623
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

MBL 052623
Note: Inactive licenses, unlicensed, and unknown licenses have been excluded.

Beneficial Owners Count

BOR 052623
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.

Schedule Demo to See Full Database >

News of Note

A selection of relevant cannabis-related news. Items marked with logo_color_markonly 20px indicate links to licensed business profiles in the CRB Monitor database.

Adverse Media

SEC Shuts Down Alleged $60M WeedGenics Offering Fraud 
Pawtucket marijuana dispensary Mother Earth Wellness ordered to take down billboards  logo_color_markonly 20px
Ninth Recall in Two Months Hits Colorado Green Tree Medicinals  logo_color_markonly 20px
California Con Man Indicted For $9M Fake Hemp Farm Scam
Agrify Receives Nasdaq Notification of Non-Compliance with Listing Rule  logo_color_markonly 20px
OCS recalls mint CBD spray for being an unlicensed prescription drug  logo_color_markonly 20px


Chalice Brands Obtains Canadian Court Order Protecting It From Creditors  logo_color_markonly 20px
Judge Says Pot Fraudster Must Pay $1.5M In Civil Suit logo_color_markonly 20px
Illinois Company. Wins Domain Name In Global Hemp Trademark Suit  
Akerna Faces Another Investor Lawsuit Over Merger  logo_color_markonly 20px

Legalization & Regulation

Minnesota Becomes 23rd State To Legalize Recreational Cannabis
Fed, States Reining in Hemp-Derived Cannabinoids
Dama Financial Updates Testimony On Banking Bill To Urge Passage Following Criticism  logo_color_markonly 20px
As FDA Looks to Congress for CBD Regs, it Elaborates on Potential Paths Forward
Cannabis omnibus fails in Illinois, 3 items escape
NJ published summary of a new law allowing marijuana businesses to deduct expenses
Ohio lawmakers reintroduce recreational marijuana bill as ballot drive continues

Licensing Related

2,700 Applicants Still Waiting for Illinois Dispensary Lottery
Ohio Board of Pharmacy Awards Dispensary Certificate to Southern Ohio Botanicals  logo_color_markonly 20px
Jersey City Cannabis Dispensaries License Cap Being Imposed
Minnesota Officials Seek Licensing Contractor Before Governor Signs Legalization Bill 
Massachusetts Cancels Cannabis Lounge Pilot Program to Aid Openings
Delaware Allocates Money, Staff to Establishing Adult-Use Cannabis Market


Cannabis Seed-to-Sale is Becoming a Duopoly  logo_color_markonly 20px  logo_color_markonly 20px
Acreage Reports First Quarter 2023 Financial Results logo_color_markonly 20px
Wrestler Hulk Hogan Launching Cannabis, Mushrooms Brand  logo_color_markonly 20px
Bright Green Announces Pricing of $3.5 Million Private Placement  logo_color_markonly 20px
Canopy Growth Reduces Interest in Canopy USA in Revised Statement  logo_color_markonly 20px
Cannabis operator Item 9 Labs cutting $3.5M in expenses in restructuring plan  logo_color_markonly 20px
California Cannabis Taxes Reach $216M During Q1; Down About $32M from Previous Quarter
Ovation Science to distribute topical cannabis products in Pennsylvania  logo_color_markonly 20px
Cresco Labs Grapples with Challenges in Planned Columbia Care Merger  logo_color_markonly 20px
California Agency Continues to Target Illegal Cannabis Activity
Canopy Growth Announces Voluntary Application for a Management Cease Trade Order  logo_color_markonly 20px
Tilray Brands Announces Proposed Registered Offering of $150M of Convertible Senior Notes  logo_color_markonly 20px
Adult-use cannabis sales in New York surpass $16.5 million


Organigram to Enter German Market Supplying Sanity Group  logo_color_markonly 20px
TerrAscend Completes Sale of Facility in Canada for C$19.7 Million  logo_color_markonly 20px
Clever Leaves sends first cannabis shipment to Portugal  logo_color_markonly 20px
Unpaid cannabis tax in Canada balloons to almost C$200 million
BZAM to sell medical cannabis in U.K via pot distributor 4C LABS  logo_color_markonly 20px
Canadian regulator pushes for more competitive cannabis industry



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