Week of July 1 - July 7, 2023
Do you love data and staying up to date with the latest cannabis-related headlines? Are you searching for industry news to inform your institution’s approach to cannabis risk and compliance?
You've come to the right place.
Hashing Out the Truth
CRB Monitor’s database growth by the numbers.
Tier 1 Marijuana-Related Business Counts
Weekly Summary (July 1 - July 7, 2023):
73,002 1A MRBs + 3,704 1B MRBs = 76,706 total
1A MRBs
Tier 1A defined: Businesses in this tier literally touch the cannabis plant at some point along the supply chain from "seed to sale," and are generally licensed by a government agency or regulator. Effectively all of their actual or expected revenue is derived from the cultivation, production, testing or sale of cannabis.
1B MRBs
Tier 1B defined: Businesses that have a financial or controlling interest in a Tier 1A CRB. CRB Monitor generally considers 1B businesses as seemingly unrelated businesses highlighted as red flags by FinCEN in its marijuana banking guidance and are similar in nature to individual beneficial owners.
Marijuana Business Licenses
Note: Inactive licenses, unlicensed, and unknown licenses have been excluded.
Beneficial Owners Count
Beneficial owners defined: For beneficial owners, each economic owner or controlling person is classified into one or more categories based on their relationship to the linked CRB including: (1) Owner/Investor, (2) Board Member, (3) Corporate Officer, (4) Executive, (5) Non-commercial Registered Agent or (6) Senior Manager.
News of Note
A selection of relevant cannabis-related news. Items marked with 
indicate links to licensed business profiles in the CRB Monitor database.
Mergers & Acquisitions
Curaleaf buys Portuguese cannabis processing facility from Clever Leaves
TerrAscend buying Maryland marijuana dispensary for $8 million
Altria-backed cannabis producer Cronos explores sale
Adverse Media
Michigan Edibles Maker Sky Labs Fined $100k, Loses Medical Cannabis License
Voluntary recall of Golden Shores products due to noncompliant creation, packaging
Akanda Corp. Receives Nasdaq Notification Regarding Minimum Bid Price Deficiency
Litigation
Principals of cannabis brand Cookies sued by another former partner
Hopeful medical cannabis supplier joins AMCC as defendant in licensure process suit
Judge rejects counterproposal for cannabis firm Fire & Flower sale process
Oklahoma Medical Pot Operators Call New Fees Unconstitutional
Wrigley Heir, Cannabis Co. Must Face $25M Investor Suit
Oreo Owner Sends Cease-and-Desist Order to Cannabis Growers
TransCanna CEO Seeks To Toss $1.2M Contract Dispute Judgment
Legalization & Regulation
OH Adult-Use Ballot Measure Submitted; MD Launches Adult-Use Sales
Virginia: Changes to Medical Cannabis Laws Take Effect
Colorado regulators published an overview of marijuana-related legislation enacted this session
NE Activists Launch Signature Gathering For 2024 Medical Marijuana Legalization Ballot Initiatives
California marijuana enforcement ramps up search warrants, seizures
Bipartisan Pennsylvania Senators Unveil New Marijuana Legalization Bill
Marijuana Banking Bill Signed Into Law By Missouri Governor
FL Governor Signs Bill Banning Hemp Chewing Gum, Other Cannabis Products For People Under 21
Licensing Related
Alabama Medical Cannabis Commission plans to redo license awards on August 10
New Mexico Cannabis Industry Calls on Regulators to Pause Licensing Amid ‘Extreme Instability’
Hochul pumps brakes on legal weed sales at New York farmers’ markets
CA Regulators Say Professional Technical Union, Local 33 is Not a Bona Fide Labor Organization
Markets
CRB Monitor Chart of the Month: Debt Ratio
Marijuana ancillary company Agrify consolidates Nasdaq-listed shares
MedMen Appoints New CEO, Chief Financial Officer
Denver regulators release annual marijuana report
AYR Wellness Announces Refinancing of Gainesville Cultivation Facility Mortgage
International
Germany publishes first draft law for recreational cannabis