Author: Kate Robertson

[ad_1] Connecticut’s attorney general sent a cease-and-desist letter to organizers of an event in Hamden as part of his office’s ongoing crackdown on unlicensed cannabis sellers. Organizers Joseph Accetulo and Cody Roberts were told to stop holding their weekly cannabis event or Attorney General William Tong’s office “will explore all legal options,” CT Insider reported. “It appears that these events involve the illegal marketing and sale of cannabis outside of the regulated market and that the events are accessible to individuals under the age of 21,” according to the letter, which also included a list of the statutes allegedly violated…

[ad_1] Multistate cannabis operator 4Front Ventures Corp. hired a new CEO and plans to convert $23 million worth of its senior secured debt into equity. Approximately 44% of the company’s senior secured debt will be converted into subordinate voting shares at a price of 0.125 Canadian dollars ($0.094) per share, according to a news release published Monday. Phoenix, Arizona-based 4Front also is providing 15% warrant coverage at an exercise price of CA$0.144, with each warrant exercisable for one subordinate voting share over a period of three years. The remaining $28.7 million loan will stay unchanged, with a 12% interest rate.…

[ad_1] Wisconsin Gov. Tony Evers has been unsuccessful in his attempts to fully legalize marijuana in the state, but now he says he’ll support a Republican plan to legalize medical cannabis. The Democrat told the Associated Press in an interview that he still prefers full legalization but is supportive of incremental change. “I would think that getting it all done in one fell swoop would be more thoughtful as far as meeting the needs of Wisconsinites that have asked for it,” Evers said. “But if that’s what we can accomplish right now, I’ll be supportive of that.” Republican lawmakers, who…

[ad_1] THC potency – the higher, the better – is still the most important factor to consumers shopping for marijuana products, cannabis operators say, but secondary factors also are driving genetics trends at cultivation facilities across the United States. In addition to high-THC, high-yield cultivars, experts in the cannabis industry say consumers are becoming increasingly interested in: The terpene profiles of cannabis products. Legacy strains bred with high-THC marijuana cultivars. Minor cannabinoids such as THCV and CBN. Trends aside, THC potency is still the most important factor to consumers. “We’re getting feedback from some of the dispensaries saying that if…

[ad_1] New Mexico regulators revoked the licenses of two cannabis facilities operating in close proximity and issued $1 million fines to each for violations such as growing too many plants and not complying with the mandated track-and-trace system. One of the companies, Native American Agricultural Development Co. (NAADC), is linked to Navajo businessperson Dineh Benally, whose operations in another part of the state was raided by federal authorities in 2020, according to the Associated Press. Operations at that facility came to an end after the Navajo Department of Justice sued Benally. Separately, Chinese immigrant workers also sued Benally, alleging they…

[ad_1] Maine is cracking down on unlicensed marijuana operators, charging five individuals in two separate investigations in the past week. In the most recent instance, Maine State Police on Tuesday responded to a community complaint about two homes in Belgrade, according to the Bangor Daily News. Police said they executed search warrants at both residences and found 2,300 marijuana plants, which they seized. Yuequan Chen, 44, and Li Min Chan, 66, were charged with illegal cultivation of marijuana and unlawful trafficking in scheduled drugs. Chen is from Massachusetts and Chan from Florida, according to the Daily News. In the other…

[ad_1] (This story is part of the cover package in the January -February issue of MJBizMagazine.) With 23 state contracts to provide cannabis track-and-trace software and radio frequency identification (RFID) tags under its belt, Lakeland, Florida-based Metrc has risen to dominate the space. But more than a decade ago, the company was just an idea, according to Metrc CEO Michael Johnson. “The original use for RFID in cannabis – and the whole reason Metrc came about – was a specific request from the state of Colorado,” Johnson said in an interview with MJBizMagazine. The company started as a wholly owned subsidiary of…

[ad_1] Florida-based multistate operator Trulieve Cannabis secured a $25 million loan and hired a new chief financial officer. The commercial loan was secured against a Florida cultivation site, according to digital publication Financial Regulation News. Trulieve will repay the loan over five years at an interest rate of 8.31%. Two banks will provide the loan, which will be used for “general corporate purposes,” Financial Regulation News reported. First Federal Bank is the lead agent. The $25 million loan comes after Trulieve’s November announcement that it plans to redeem all of its outstanding 9.75% senior secured notes with a principal worth $130…

[ad_1] Alcohol sales aren’t permitted in some stores on Christmas Day and New Year’s Day in Connecticut, but consumers can buy marijuana and gamble. According to West Hartford TV station WVIT, package stores must remain closed on Christmas and New Year’s Day. Manufacturers aren’t permitted to sell liquor, and grocery stores cannot sell beer on the two holidays. However, restaurants and other establishments that sell food are permitted to sell alcohol on those days in Connecticut. The state launched recreational cannabis sales on Jan. 10, roughly 18 months after the governor signed a legalization bill into law. Bryan Cafferelli, commissioner of…

[ad_1] Marijuana multistate operator MedMen Enterprises is exiting Arizona and Nevada by selling its assets in those states to privately held MSO Mint Cannabis. The sales are the result of a strategic review by MedMen, according to a news release, and consist of the Los Angeles-based company’s wholly owned operating subsidiary in Arizona and two operational stores in Clark County, Nevada. The value of the transaction was not disclosed. Mint Cannabis has operations in its home state of Arizona as well as Michigan and Missouri. MedMen warned investors in February that the company was running out of cash and later…

[ad_1] More cannabis dispensary employees have voted to join the United Food and Commercial Workers (UFCW) labor union, this time in Columbia, Missouri, and Freehold, New Jersey. Twenty-five budtenders at the High Profile store in Columbia will join UFCW Local 655. High Profile’s parent company, Ann Arbor-based C3 Industries, still must officially recognize the union, according to the Columbia Missourian. Meanwhile, an undisclosed number of workers at NJ Leaf in Freehold voted to join the UFCW Local 360. NJ Leaf owner Ritesh Shah said the company supports the union drive. “NJ Leaf is committed to our partnership with the UFCW,”…

[ad_1] Marijuana sales in Arizona surpassed the $1 billion for 2023 in September, despite some month-over-month sales declines earlier this year. From January to September, total medical cannabis sales were $267 million and adult-use sales were $797 million, according to nonprofit news organization AZ Mirror. Data from the state’s Department of Revenue shows MMJ sales have gradually declined in 2023, an expected outcome after the January 2021 launch 0f recreational marijuana sales. Since that launch, Arizona operators have sold more than $4 billion worth of cannabis products. Arizona’s adult-use cannabis sales also declined month-over-month this past spring. In May, adult-use…