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?
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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 20 - May 26, 2023):
71,891 1A MRBs + 3,676 1B MRBs = 75,567 total
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.
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. Items marked with indicate links to licensed business profiles in the CRB Monitor database.
SEC Shuts Down Alleged $60M WeedGenics Offering Fraud
Pawtucket marijuana dispensary Mother Earth Wellness ordered to take down billboards
Ninth Recall in Two Months Hits Colorado Green Tree Medicinals
California Con Man Indicted For $9M Fake Hemp Farm Scam
Agrify Receives Nasdaq Notification of Non-Compliance with Listing Rule
OCS recalls mint CBD spray for being an unlicensed prescription drug
Chalice Brands Obtains Canadian Court Order Protecting It From Creditors
Judge Says Pot Fraudster Must Pay $1.5M In Civil Suit
Illinois Company. Wins Domain Name In Global Hemp Trademark Suit
Akerna Faces Another Investor Lawsuit Over Merger
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
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
2,700 Applicants Still Waiting for Illinois Dispensary Lottery
Ohio Board of Pharmacy Awards Dispensary Certificate to Southern Ohio Botanicals
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
Acreage Reports First Quarter 2023 Financial Results
Wrestler Hulk Hogan Launching Cannabis, Mushrooms Brand
Bright Green Announces Pricing of $3.5 Million Private Placement
Canopy Growth Reduces Interest in Canopy USA in Revised Statement
Cannabis operator Item 9 Labs cutting $3.5M in expenses in restructuring plan
California Cannabis Taxes Reach $216M During Q1; Down About $32M from Previous Quarter
Ovation Science to distribute topical cannabis products in Pennsylvania
Cresco Labs Grapples with Challenges in Planned Columbia Care Merger
California Agency Continues to Target Illegal Cannabis Activity
Canopy Growth Announces Voluntary Application for a Management Cease Trade Order
Tilray Brands Announces Proposed Registered Offering of $150M of Convertible Senior Notes
Adult-use cannabis sales in New York surpass $16.5 million
Organigram to Enter German Market Supplying Sanity Group
TerrAscend Completes Sale of Facility in Canada for C$19.7 Million
Clever Leaves sends first cannabis shipment to Portugal
Unpaid cannabis tax in Canada balloons to almost C$200 million
BZAM to sell medical cannabis in U.K via pot distributor 4C LABS
Canadian regulator pushes for more competitive cannabis industry