Author: Chris Casacchia

[ad_1] California cannabis brand Dosist has been acquired by longtime Los Angeles partner Final Bell Holdings International. Under the agreement, Final Bell acquired the intellectual property of the brand and assumed its debt, company executives told MJBizDaily in advance of an official announcement. No cash was exchanged in the deal. “With Final Bell’s acquisition, Dosist will grow and become more accessible for those wanting a companion to a healthy and active way of life,” said Dosist founder Jason DeLand, who will oversee the integration. Santa Monica-based Dosist sells vape cartridges and fast-acting gummies primarily in the California market. However, Final Bell plans…

[ad_1] Detroit regulators issued 37 adult-use cannabis business licenses to retailers, microbusinesses and the city’s first consumption-venue operators. In an effort to increase diversity and local ownership, Round 2 license winners included: 13 businesses majority-owned by African Americans. Five majority-owned by women. 21 majority-owned by Detroit residents. “These individuals and organizations have exhibited remarkable potential and commitment to operate successfully, while honoring the city’s diversity and equity goals,” Kim James, director of Detroit’s Office of Marijuana Ventures and Entrepreneurship (OMVE), said in a released statement. “OMVE remains dedicated to facilitating a transparent and fair licensing process, ensuring that all applicants…

[ad_1] New York regulators and a group of disabled military veterans who challenged the state’s adult-use marijuana licensing process have reached “an agreement in principle to settle this matter,” according to court documents obtained by MJBizDaily. The agreement finalized Monday between the state’s Office of Cannabis Management (OCM) and plaintiffs is expected to lead to the end of a temporary injunction that’s been in place since August, according to New York’s Daily News, which first reported the settlement. The injunction, put in place by the New York State Supreme Court, prevented more than 400 conditional adult-use retail dispensary (CAURD) licensees across…

[ad_1] (This story is featured in MJBizDaily’s recently released report, “Diversity, Equity & Inclusion in the Cannabis Industry.” The free report can be downloaded here.) Arizona, Illinois and Michigan were among a handful of states over the past year where Black entrepreneurs opened marijuana stores in key markets. In March, Nuggets Dispensary became the first Black-owned business with a marijuana social equity retail license to open in Detroit, four years after the city approved recreational cannabis sales. Later that month, High Profile Cannabis Shop, a majority-Black-owned, adult-use marijuana store, also opened its doors in the Motor City. Despite state and…

[ad_1] Nearly a year after Connecticut launched adult-use cannabis sales with only a handful of licensed operators, new entrants are struggling to crack into the market on the Eastern Seaboard. Dozens of companies are still awaiting final approvals from state regulators as they navigate a lengthy and costly approval process, according to the Hartford Business Journal. According to the most recent state data: 36 applicants have received provisional licenses, or temporary approvals, as they work to get fully licensed. Some businesses have up to two years before their licensing window closes. 15 applications are pending. Access to capital, securing real…

[ad_1] Ohio’s Republican governor wants changes made to some aspects of the adult-use cannabis initiative that voters overwhelming approved at the polls Tuesday. Gov. Mike DeWine, who opposed Issue 2 heading into the election, wants to see some child protections related to advertising and edibles as well as curbs to limit intoxicated drivers and public exposure to marijuana smoke, The (Cincinnati) Inquirer reported. The governor also wants those tweaks to happen within 30 days, Cleveland.com reported. That timetable jibes with a Dec. 7 deadline the ballot initiative set for certain “elements of the law go into effect … including lifting…

[ad_1] Florida’s Supreme Court appeared during oral arguments to dismiss key arguments from state attorneys aiming to strike down a 2024 ballot initiative to legalize adult-use marijuana sales and possession. During the Wednesday hearing, Justice Charles Canady said the language of the proposal was clear and questioned arguments posed by lawyers from the state’s attorney general, Politico reported. “Where’s the hidden ball?” Canady asked, according to Politico. “I’m baffled by the argument.” The high court has until April 1 to rule. If the justices forgo a decision, the measure will appear on the November 2024 ballot, Politico reported. In an…

[ad_1] A marijuana retailer in Southern California has filed a challenge against the city of Costa Mesa in an effort to gain final approvals to open the business. High Seas claims in the state Superior Court filing that the Orange County city has failed to provide a legitimate reason for withholding its final permit to commence operations. The company, according to court documents obtained by MJBizDaily, alleges that it has been ready to open since Sept. 26 and the city has failed to provide any information in the past three weeks. Meanwhile, the delays are costing High Seas well over $110,000 per…

[ad_1] Ohio voters on Tuesday approved legalizing the cultivation and sale of recreational marijuana, paving the way for what is expected to become a multibillion-dollar market in the Midwest. With about 53% of the votes tallied on Tuesday night, supporters of Issue 2 were winning, capturing 55.7% of the vote versus 44.3% against. Polls had been closed for nearly two hours when ABC News and NBC called the race over. Ohio is the 24th state to legalize adult-use cannabis – in addition to Washington DC – after a contentious, yearslong process. MJBizDaily forecasts adult-use sales could total $1.5 billion to $2 billion…

[ad_1] The vast majority of crackdown efforts by New York regulators and law enforcement agencies related to illegal marijuana sales have failed to be resolved, officials confirmed Monday. One potential reason: New York regulators have halted administrative hearings where judges can levy fines and other penalties against those selling illicit marijuana products. The shift by the state’s Office of Cannabis Management (OCM) effectively eliminates one path to punishment after raids on unlicensed smoke shops and retail outlets, though such incursions continue to be initiated, according to The City news website. The OCM attributed the change to a lack of resources,…

[ad_1] Nevada regulators approved six more conditional licenses for marijuana consumption lounges, including concepts from two of the nation’s largest cannabis companies. New York-based Curaleaf Holdings plans to open a retail-attached consumption lounge through its subsidiary Tryke Cos. at its Reef Dispensary, just off the Las Vegas strip, according to Business of Cannabis. Green Thumb Industries, headquartered in Chicago, plans to establish a similar concept through its Integral Associates subsidiary at an adjacent location to the Cookies on the Strip retail outlet, the news site reported. The other conditional license winners included: Desert Evolution. Higher Archy. NevadaPure. TGIG. The state’s…

[ad_1] Missouri regulators have notified cannabis operators that thousands of marijuana products under recall since August have been released for sale. The roller-coaster situation was first detailed by MJBizDaily. The Department of Health and Senior Services’ Division of Cannabis Regulation (DCR) have released nearly 15,000 products that were under recall, according to an Oct. 20 notice. That’s about a quarter of the 62,000 cannabis products that have been under recall. The infused products contained distillate manufactured and sold by Missouri-based Delta Extraction and its affiliates. The agency warned license holders that the remaining products must be quarantined until the investigation is…