Author: Chris Casacchia

[ad_1] Arizona cannabis retailers sold nearly $1.5 billion worth of recreational and medical marijuana in 2023, a record since the state launched adult-use sales in January 2021. State operators’ $1,490,948,873 in marijuana sales last year was an increase of 4.9% from 2022, according to data released by the Arizona Department of Revenue. It’s the second consecutive year of sales growth in Arizona since the launch of recreational sales, as the state has proved to be more immune to sales slumps that have hampered newer adult-use markets the past few years. The state’s standing as a tourism and nightlife hot spot…

[ad_1] A marijuana company employee in Massachusetts has been denied bankruptcy protections, highlighting a federal barrier that extends beyond the corporate realm to personal finances. A U.S. Bankruptcy Appellate Panel ruled that Scott Blumsack, a full-time employee at marijuana wholesaler Society Cannabis Co., was prohibited from accessing Chapter 13 protection, according to Rhode Island Lawyers Weekly. While the nature of Blumsack’s employment alone failed to disqualify eligibility, he lost his bid because of his plan to channel income from a cannabis store into a Chapter 13 trustee’s office and then to creditors, U.S. Bankruptcy Court Judge Michael Fagone ruled. “Where…

[ad_1] Germany’s landmark recreational cannabis law will go into effect on April 1 after clearing the final regulatory hurdle on Friday. The Bundesrat, the upper house of the German Parliament, failed to reach a majority to convene the Mediation Committee, clearing the last potential delay to approval, ABC News reported. The law, approved a month ago in the Bundestag by a 407-226 vote,  generally decriminalizes cannabis, allows for home grows and lays the legal framework for so-called “cultivation social clubs” – nonprofit organizations where members can acquire marijuana for recreational use. However, the law stops short of establishing a regulated…

[ad_1] The final medical marijuana operator allowed by law in Louisiana is open for business. Crescent City Therapeutics last week became the 10th medical marijuana pharmacy, as dispensaries are called in Louisiana, to start serving MMJ patients, according to a news release. Each pharmacy operates in a designated region of the state. Crescent City is located in Kenner, a New Orleans suburb. A pharmacy, under state rules, is eligible to open a second location once it serves 3,500 registered patients. Louisiana’s governor signed a medical marijuana program into law in 2016, but sales didn’t begin until three years later. [ad_2]…

[ad_1] Biotech company Amyris will pay its former business partner, cannabinoid manufacturer Lavvan, $15.1 million as part of a settlement agreement that ends years of litigation. A bankruptcy judge in Delaware approved California-based Amyris’ settlement offer stemming from Lavvan’s 2020 lawsuit alleging misappropriation of trade secrets and patent infringement, according to Law360. New York-based Lavvan specifically accused Amyris of stealing secrets to synthetic cannabinoids such as CBG. The two companies entered into a research, collaboration and license agreement in March 2019. Lavvan contended in its lawsuit that Amyris broke the terms of the deal, leaving no other recourse but litigation.…

[ad_1] New York’s governor has ordered examiners to assess the state’s cannabis regulator and processes related to adult-use licensing. Gov. Kathy Hochul, who recently called the state’s rollout of its adult-use market a “disaster,” appointed Jeanette Moy, commissioner for the New York State Office of General Services, to lead the multiagency initiative, according to a Monday news release. The internal audit, which will last at least 30 days, includes: A top-down review of the Office of Cannabis Management (OCM)’s organizational structure, processes and systems with a goal to shorten licensing approvals and the application period for new marijuana retailers and…

[ad_1] Colorado’s total marijuana sales in January were essentially flat compared to December transactions in the state. Adult-use and medical marijuana sales in the state were $115.4 million in January, down $418,111 month-over-month, or less than 1%, according to the latest statistics from the Colorado Department of Revenue. Recreational marijuana sales accounted for nearly 87% of the total, a percentage that has stayed relatively flat for several months. January sales were down significantly year-over-year, dropping 10.8% from $129.4 million in 2023. To date, retailers have sold $15.6 billion worth of marijuana since Colorado became the first state to establish a…

[ad_1] Florida-based marijuana multistate operator Trulieve Cannabis has filed a lawsuit against a former chief financial officer for misappropriating hundreds of thousands of dollars tied to personal expenses. The lawsuit, filed in the U.S. District Court for the Northern District of Florida, claims Alex D’Amico expensed vacations, luxury apparel and even legal fees as business-related activities, according to Green Market Report. The charges amount to more than $350,000 and include reimbursements collected through Concur, a management-expense system, for several items purchased with a corporate credit card and others that were allegedly fabricated, the news outlet reported. Trulieve’s audit committee investigated…

[ad_1] Exhale. The long-awaited arrival of marijuana consumption lounges in Las Vegas is finally here. Thrive Cannabis Marketplace recently opened the first state-licensed lounge adjacent to its store just off the Las Vegas Strip, and nearly 20 other consumption businesses are putting the finishing touches on their venues, according to state regulators. After passing the final site inspection by the Nevada Cannabis Compliance Board (CCB) on Feb. 15, Smoke and Mirrors Cannabis Lounge opened a week later, highlighting the urgency and behind-the-scenes preparations that went into launching a new era of marijuana hospitality in the tourism mecca. In some respects,…

[ad_1] (This story was updated at 3:41 p.m. ET to reflect that two MedMen stores in California remain open.) MedMen Enterprises has shuttered all but two of its stores in California, workers confirmed to MJBizDaily on Friday afternoon. Only MedMen stores in San Diego and near Los Angeles International Airport remain open. “All the rest have closed,” an employee at the LAX store confirmed to MJBizDaily. Earlier Friday, a worker at MedMen’s Santa Ana location told MJBizDaily that the Southern California store was shuttered in the morning, adding, “we closed all our stores and are out of business.” “We had…

[ad_1] Voters in Humboldt County, California, soundly rejected a ballot initiative Tuesday that aimed to widely curb marijuana cultivation in that region. According to the final election night report from the county, Measure A was opposed by nearly 73% of voters, a blowout by election standards. Measure A, dubbed the Humboldt Cannabis Reform Initiative, featured several new business restrictions, including: Capping the size of farms at 10,000 square feet, which would make more than 400 licensed farms noncompliant. Requiring public hearings for all grow operations larger than 3,000 square feet. Limiting farm locations on two-way roads that can accommodate speeds…

[ad_1] Florida lawmakers have approved a wide-ranging bill that critics contend could destroy the state’s hemp market. Senate Bill 1698 was approved by the House in a 64-48 vote, according to the Tampa Bay Times, and now heads to Gov. Ron DeSantis to be signed into law. The measure to ban hemp-derived products containing delta-8 and delta-10 THC was unanimously approved by the Senate in February. The bill would ban a variety of delta-8 and delta-10 products, including: Gummies. Tinctures. Vapes. It would also prohibit other cannabinoids such as THCV and THCP from being infused into hemp extracts and would cap intoxicating…