Author: Solomon Israel

[ad_1] Monthly sales of regulated adult-use and medical marijuana surpassed $25 million in September, a monthly record since recreational sales launched in January. The monthly total includes nearly $14.4 million in adult-use cannabis sales and $10.8 million in medical sales, according to state data. By product type, September sales in the state included 52% cannabis flower, 30% vapes and 11% edibles, according to the Connecticut Department of Consumer Protection. Adult-use consumers purchased 376,035 products during September at an average price of $38.37; MMJ patients bought 284,116 products at an average price of $38.21. The average adult-use product price represents a…

[ad_1] Cannabis multistate operator Curaleaf Holdings is following through with its previously announced plan to list on the Toronto Stock Exchange, a step up from its current listing on the more junior Canadian Securities Exchange. In particular, the New York-based multistate operator filed an application to list the company’s subordinate voting shares on the TSX. The move follows an Oct. 3 marketed offering of subordinate voting shares in order to meet the TSX’s listing criteria, Curaleaf said in a news release. “I believe uplisting to the TSX will provide greater access to a broader set of global institutional investors, offer…

[ad_1] Leafly Holdings says it is back in the good graces of the Nasdaq after meeting the stock exchange’s minimum bid-price requirement. The announcement comes after the marijuana e-commerce platform consolidated its shares on a 20-to-one basis in September in order to comply with the Nasdaq’s rules. The exchange requires a minimum bid price of $1 for listed equities. Leafly achieved that requirement for the necessary 10 consecutive business days as of Sept. 25, the Seattle-based company said in a news release. “As a result, the listing matter is now closed,” Leafly said in a statement. Share consolidations such as…

[ad_1] Marijuana multistate operator Verano Holdings Corp. is in the process of moving its Canada-listed shares from the Canadian Securities Exchange to the Cboe Canada exchange. Chicago-based Verano said it has received conditional approval to list its Class A subordinate voting shares on the Cboe Canada exchange, which was previously called the NEO Exchange before its acquisition by Cboe Global Markets. “The transition to Cboe Canada does not require the company to recapitalize or undertake any corporate restructuring,” Verano said in a Tuesday news release. Verano believes moving to Cboe Canada “will better position the company to capitalize on future…

[ad_1] Steve White, the president of Trulieve Cannabis Corp., is exiting the company two years after joining the multistate marijuana company through its acquisition of Harvest Health & Recreation. White’s departure has already taken effect, although he will continue as a strategic adviser to Trulieve “until his anticipated retirement at the end of this year,” according to a Monday news release. White was formerly former CEO and co-founder of Phoenix-based MSO Harvest Health. He joined Florida-based Trulieve when it acquired Harvest Health through an all-stock deal valued at more than $2 billion when the acquisition was announced in May 2021.…

[ad_1] Employees of Dragonfly Wellness, a medical marijuana dispensary in Salt Lake City, voted to join the United Food and Commercial Workers (UFCW). The workers are the first cannabis-sector employees in Utah to unionize, according to Phoenix-based UFCW Local 99. The Tuesday unionization vote involved 30 employees, according to the National Labor Relations Board. “Employees included in the newly formed cannabis union include Dragonfly Wellness associates, team leads, drivers, delivery leads, inventory specialists, pharmacists, and head trainers,” according to a UFCW Local 99 news release. Vertically integrated Dragonfly Wellness opened the state’s first licensed MMJ pharmacy – as dispensaries are…

[ad_1] (This is a developing story and will be updated.) The latest push for federal cannabis banking reform in the United States passed a markup hearing in the Senate Banking Committee on Wednesday, demonstrating bipartisan support for allowing state-legal marijuana businesses to access financial services and setting up the bill for a full vote in the chamber. The outcome of Wednesday’s Senate Banking Committee hearing improves the prospects that regular financial institutions can serve state-legal cannabis businesses despite federal marijuana prohibition, reducing the MJ industry’s inconvenient and dangerous dependence on doing business in cash. The 23-member committee voted 14-9 in…

[ad_1] Alaska is easing restrictions on cannabis advertising and product sampling, the latest step towards liberalizing the state’s marijuana program as lawmakers also contemplate MJ tax reform. The revised rules take effect Oct. 8 after being signed into law by Lt. Gov. Nancy Dahlstrom earlier this month. The new regulations: Remove restrictions on the number, placement and size of signs for cannabis businesses, and make those signs subject to local laws. Permit cannabis advertisements on buses, bus shelters, and college campuses, while maintaining some other restrictions on where ads can be placed. Allow cannabis stores to offer free samples. “I’m…

[ad_1] Erin Dupree, who was appointed the first director of Minnesota’s Office of Cannabis Management only last week, has resigned before even starting her role after a local media report that raised questions about her background, including an allegation that her business previously sold prohibited hemp-derived products. DuPree’s appointment by Gov. Tim Walz on Thursday was set to take effect Oct. 2. However, according to an MPR News-APM Reports investigation on Friday, DuPree “ran a business that sold products that exceeded state limits on THC potency, owed money to former associates and accumulated tens of thousands of dollars in tax…

[ad_1] Erin DuPree has been appointed as the inaugural director of Minnesota’s Office of Cannabis Management (OCM) as the state prepares to launch its regulated adult-use marijuana market. The appointment by Gov. Tim Walz takes effect Oct. 2, according to an announcement from the governor’s office. DuPree is currently “founder, vice president of sales and operations, and head of research and development at Loonacy Cannabis Co.” in Apple Valley, Minnesota. “In this position, she has managed multiple aspects of the business and led continued research on hemp-derived and cannabis products while maintaining compliance with state laws and regulations,” the announcement…

[ad_1] Two marijuana markets saw sales go different directions in August. Monthly sales of legal marijuana in Missouri shrank slightly to $119 million, with month-over-month declines in both adult-use and medical marijuana sales. But in Montana, monthly legal cannabis sales reached a record high. Missouri’s $119 million figure for August represents a 3.4% decrease from July’s $123.2 million sales total, according to data posted by the Missouri Department of Health and Senior Services (DHSS). The August figure includes $97 million in monthly adult-use sales (down from $98.7 million in July) and $22 million of medical marijuana sales (down from $24.5…

[ad_1] A new cannabis exchange traded fund (ETF) has been launched by Subversive Capital Advisor based on the potential rescheduling of marijuana by the U.S. government. The ETF launch comes after a run-up in cannabis stocks after news of a recommendation from U.S. Department of Health and Human Services (HHS) officials that marijuana be reclassified as a Schedule 3 substance, a change that would be broadly positive for the legal marijuana industry. The Drug Enforcement Administration is now reviewing that recommendation, and there have been encouraging signs the DEA will heed the HHS recommendation. The new Subversive Cannabis ETF invests…