Author: Chris Casacchia

[ad_1] In a few short months at the helm, Tilt Holdings interim CEO Tim Conder has initiated significant cost reductions and reevaluated brand partnerships – including cutting ties with some social equity brands – while shifting focus to the cannabis company’s vape hardware business. The expense-cutting campaign, which included an undisclosed number of layoffs in the second quarter, is projected to save the Phoenix-based marijuana multistate operator $8 million annually. In early September, Tilt announced a $1.4 million deal to sell its stake in a joint venture with the Shinnecock Indian Nation in New York, ending the company’s plans to…

[ad_1] A bill that would allow California cannabis retailers to operate traditional kitchens and host events at their stores has advanced to Gov. Gavin Newsom. Assembly Bill 374 was widely approved by the Assembly on Monday, the Los Angeles Times reported. The proposal would remove some of the state’s biggest restrictions on marijuana consumption lounges, namely allowing operators to serve prepared foods and beverages as well as host music events. “Lots of people want to enjoy legal cannabis in the company of others,” Assembly Member Matt Haney, who sponsored the measure, said in a statement, the newspaper reported. “And many people…

[ad_1] Connecticut and Maine both posted modest marijuana sales increases in August, according to the latest state data. Recreational and medical marijuana retailers in Connecticut sold a record $24.9 million-plus worth of marijuana products last month, up 5.4% from a year ago, according to the state’s Health and Human Services department. In dollar terms, adult-use transactions accounted for about 56% of cannabis sales in Connecticut during the month. Recreational sales in Connecticut increased for the seventh straight month since the state launched the market on Jan. 10. Medical marijuana sales in Connecticut also rose in August to more than $10.9 million, up…

[ad_1] California regulators are expanding grant access and funding for cities and counties to establish adult-use retail cannabis programs. The Department of Cannabis Control expanded eligibility for Phase II of its Local Jurisdiction Retail Access Grants to any jurisdiction without a retail program, including those that didn’t participate in Phase I. Phase II grant funding, which is contingent on the issuance of retail licenses, also has been doubled so jurisdictions may receive $150,000 per eligible retailer license and $300,000 per eligible social equity retailer license, according to a recent news release. The qualifications for Phase II eligibility include: The absence…

[ad_1] Two hemp businesses and a consumer filed a lawsuit in Virginia federal court contending the state’s new restrictions on low-THC, hemp-derived products is causing financial harm to hemp companies and inhibiting interstate commerce. The lawsuit by hemp-product retailer Northern Virginia Hemp and Agriculture, North Carolina-based grower and distributor Franny’s Operations and consumer Rose Lane argues the new regulations will cause “millions of dollars of irreparable harm” while banning products that were recently legal exacerbates “potential health problems to thousands of Virginians,” the Virginia Mercury reported. Virginia’s new law regulating hemp-derived products took effect July 1. The new rules include A…

[ad_1] Berkshire Bank, one of the largest banks in Massachusetts, is expanding services for cannabis companies and entrepreneurs nationwide. The new banking unit will be established through a partnership with Florida-based Green Check Verified, a cannabis financial services and software company, to offer a platform for clients to conduct and monitor transactions, according to the Boston Business Journal. Berkshire Bank joins a growing number of Massachusetts financial institutions that are beginning to serve marijuana businesses. Available services for plant-touching, ancillary and other marijuana-related businesses include electronic fund transfers and wire services, armored cash pickup, debit cards and checks, mobile and…

[ad_1] Marijuana sales along state lines are key revenue generators for retail operators in the United States, and new insights suggest a similar business bump along international borders, particularly Mexico. Data compiled by New York-based wholesale technology platform LeafLink – as well as information gathered from state agencies, quarterly reports and interviews with several cannabis companies – bear that out. LeafLink analyzed hundreds of ZIP codes at the request of MJBizDaily and found strong links that when new recreational markets open, retailers near borders stock up on inventory significantly more than operators located elsewhere in a state. Data from the…

[ad_1] The Leech Lake Band of Ojibwe has established a framework to launch an adult-use cannabis retail program on its tribal lands in rural Minnesota. The Leech Lake Band business council recently approved an ordinance for the sale and consumption of cannabis products on its lands in the northern part of the state, according to MPR News. The Leech Lake Band could launch recreational sales by year’s end and, ultimately, operate as many as three stores, the radio station reported. Two other Minnesota tribes recently launched adult-use sales in the state. The Red Lake Nation launched recreational marijuana sales at its NativeCare…

[ad_1] Maryland regulators released the guidelines for social equity applicant eligibility and information for an online verification portal in preparation for the upcoming adult-use cannabis business licensing application window. Based on data from three state agencies, social equity applicants seeking cannabis business licenses in Maryland must control at least a 65% interest in the company and meet one of the following criteria: Lived in a disproportionately impacted area for at least five of the past 10 years. Attended a public school in a disproportionately impacted area for at least five years. Spent at least two years at a four-year college…

[ad_1] A CBD retailer has opened its second location at Hartsfield-Jackson International Airport in Atlanta. The SunMed Your CBD Store opened in August, replacing a vending machine location next to the main checkpoint at a domestic terminal at the world’s busiest airport, according to The Atlanta Journal-Constitution. The SunMed store, which sells hemp-based edibles, tinctures, balms and other wellness products, opened its first location earlier this year on Concourse D at the airport, the newspaper reported. CBD stores are rare tenants at airports worldwide, but there are a few exceptions, including a cafe that sells CBD-infused products at the Haneda…

[ad_1] A Missouri circuit judge dismissed a court action by a marijuana extraction company seeking to halt a state recall on thousands of products containing its THC concentrate. Delta Extraction filed a motion Aug. 17 asking for a temporary restraining order against a recall of its products issued by the state Department Health and Senior Service as well as the Division for Cannabis Regulation, according to Columbia TV station KMIZ. The judge ruled Wednesday that Robertson-based Delta Extraction failed to exhaust all administrative options and the court lacked the jurisdiction to hear the complaint, KMIZ reported. The situation began Aug.…

[ad_1] Fresno is the first municipality to participate in a new California program aimed at reining in illegal cannabis production and sales. The Central Valley city has adopted the Cannabis Administrative Prosecutor Program (CAPP), which will utilize resources from the office of Attorney General Rob Bonta, according to Fresno TV station KFSN. Under the program, the state will: Increase the scope of illicit marijuana enforcement. Provide resources and education to build enforcement programs. Provide cost-effective evidence collection that could lead to large-scale, statewide prosecutions. And, according to a news release, the California Department of Justice will: Provide attorneys. Assist with…