Green Market Report
WEBSep 27, 2024 — The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry.
Despite governor’s report, most Illinois social equity businesses …
WEBAug 22, 2024 — The breakdown of operational social equity businesses includes: There’s a total of 221 marijuana dispensaries open in Illinois as of July 26, including 55 medical and the 111 social equity shops, the IDFPR reported. There are 21 operational cultivation centers and six licensed testing labs, according to the Department of Agriculture.
Investors rally behind Numinus Wellness in a $6M bought deal
WEBFeb 2, 2024 — Numinus Wellness Inc. (OTCQX: NUMIF) entered into a agreement to raise $6 million through a bought deal with Eight Capital and a syndicate that includes Stifel GMP, the company said Thursday. Under the terms of the agreement, the syndicate will purchase 50 million units of Numinus at a price of $0.12 per unit. The capital raise is another important step for the mental health care company ...
Report: IRS official says rescheduling may bring new 280E …
WEBSep 24, 2024 — A lawyer for the Internal Revenue Service told a group of accountants in Denver recently that despite the ongoing marijuana rescheduling process – which should nullify the 280E section of the federal tax code for state-legal cannabis companies – the tax policy will be enforced until rescheduling is completed. And after that, the attorney warned, the regulatory move will likely give the ...
MedMen creditors likely out millions, trustee and receiver …
WEBJun 24, 2024 — When MedMen Enterprises went belly-up in April, it left behind more than $560 million in debts and a shell of a company that had just $1 in immediate value, according to court documents and reports from financial experts working to liquidate the company’s assets.. Richard Ormond, the U.S.-based receiver named to sell off what was left of MedMen – including 72 subsidiary companies and 43 ...
Michigan marijuana sales hit new record high in March
WEBApr 12, 2024 — This story was republished with permission from Crain’s Detroit and written by Dustin Walsh.. Michigan marijuana continues to reach new heights. Statewide sales hit another all-time record in March, recording more than $288.8 million, up nearly $28 million, or 11%, from February, according to data from the Michigan Cannabis Regulatory Agency.
Harris endorses federal marijuana legalization
WEB4 days ago — Harris sponsored the MORE Act to federally legalize marijuana while she was serving in the U.S. Senate in 2019, prior to her stint as vice president. But she’s also on record standing against the 2010 ballot measure in California to legalize marijuana while she was running to be state attorney general. In addition, Harris developed a ...
Top House Democrats call on DEA for 'swift action' on cannabis …
WEB2 days ago — In a letter this week to the U.S. attorney general and the head of the Drug Enforcement Administration, two of the top-ranking Democrats in the U.S. House of Representatives urged the Department of Justice to move at top speed in its current effort to reclassify marijuana as a less-dangerous drug. U.S. Reps. Frank Pallone Jr. …
Parallel Investors Pull Back Curtain On Debt Defaults - Green …
WEBMar 28, 2022 — The latest documents in the privately-owned Parallel Cannabis (formerly Surterra Wellness) lawsuit lay bare the issues surrounding the company’s debt and its inability to pay those debts causing defaults.. The court documents filed on Friday outline a plan by Parallel’s then CEO Beau Wrigley and his family fund called the PE Fund to create a new level of debt that would jump ahead of the ...
Cannabis Industry Executives Share Predictions for 2024
WEBJan 2, 2024 — U.S. Reform. The industry has been anxiously watching Washington, D.C., after the U.S. Department of Health and Human Services formally recommended rescheduling cannabis in August. “I foresee the federal government reclassifying cannabis, rescheduled as a Schedule III controlled substance, on April 20, 2024,” Paxhia said.