Week of May 6 - May 12, 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 6 - May 12, 2023):
71,480 1A MRBs + 3,672 1B MRBs = 75,152 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.
Note on Tier 1A numbers: The Illinois DFPR-Cannabis Program released a list of approximately 2700 applicants for the state’s upcoming license lottery. These applicants were added under the Conditional Adult Use Dispensing Organization License type for recreational retail dispensaries.
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.
Mergers & Acquisitions
Cannabis companies Skymint, 3Fifteen battle in receivership
OMMA Shuts Down Suspected Illicit Marijuana Grow
Nobo Inc. Says Ex-General Counsel Wrongfully Tried To Oust CEO
Culta Faked Email To Dodge $6M Payment, Ex-Partner Says
Some AFC Gamma Clients Having Trouble Making Payments
Consulting Firm Slams Ignite Spirits' 'Petulant' Bid To Undo $1.6M Judgment
Dutchie Sued In Delaware For Alleged Merger Breach
Green Thumb Industries Facing 10 Federal Complaints from Teamsters
Legalization & Regulation
Senate Banking Committee Hearing Raises Hopes for Cannabis Industry
MN Defamation Suit Latest Skirmish Between Hemp Farmers and Legal Weed Producers
Florida lawmakers pass bill on medical cannabis telehealth, Black farmers
Illicit medical marijuana operators in Oklahoma targeted by new law
N.H. Governor Backs Legalization Through State-Run Stores After Senate Defeats Reform Bill
New Arkansas law prohibits sales of delta-8 THC products
Vermont regulators to crack down on synthetic cannabis
New Jersey Governor Signs Bill Extending Tax Deductions to Cannabis Companies
Missouri Bill to Improve Marijuana Businesses' Access to Banks Heads to Governor
Missouri marijuana sales surpass $1 billion on cumulative basis
Trulieve, Verano, Ascend Wellness Buckle Up for New Growth Markets
NewLake Capital Tenant Issues Cloud Yearly Revenue Growth
Village Farms Q1 Cannabis Sales Fall 10% Sequentially
Weedmaps Loses $4 Million in Q1 Despite Increase in Clientele
Innovative Industrial Properties Posts $40 Million Profit in First Quarter