Week of July 15 - July 21, 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 15 - July 21, 2023):
73,228 1A MRBs + 3,718 1B MRBs = 76,946 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. Pre-licenses dropped the week of July 15 after Illinois awarded 55 licenses out of approximately 2,700 applicants.
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
Philip Morris buying Israeli cannabis firm for up to $650M, report says
Adverse Media
Michigan Regulators Announce Voluntary Recall of Sky Labs Vapes
Parallel/Goodblend Exiting Pennsylvania Marijuana Market After Defaulting on Rent
Curaleaf, citing slow rollout of cannabis sector, lays off 49 at Winslow, NJ, production facility
Calif. Pot Bribe Sentence Should Send Message, Feds Say
Fitch Upgrades Then Withdraws Ratings for Canopy
ETF Managers CEO Masucci Resigns Amid SEC Investigation
Litigation
Hemp businesses sue Maryland for 'monopolizing' recreational pot licensing process
Cannabis brand Cookies sued by another investor group
Marijuana MSO Cresco Labs alleges GTI poached key employee
Trulieve Cannabis, Black entrepreneur trade barbs over alleged $24M debt
Kush Alley, MVN Productions Try To Move Toxic Chemical Claims To Arbitration
Judge OKs Deal Ending Pa. 'Your CBD Stores' Lawsuit
Court OKs Sale Of Los Angeles Pot Co.'s Retail License to Off the Charts
Calif. Couple Asks U.S. Supreme Court To Revisit Cannabis Policy Ruling
Legalization & Regulation
New York Senator Introduces Legislation to Prohibit the Public Use of Marijuana
North Carolina Indian Tribe Puts Marijuana Legalization On The Ballot
Florida Legalization Campaign Hits Back at Attorney General’s Push to Block Initiative from Ballot
Congressional Committee Schedules Hearing To Press FDA On Lack Of CBD Regulations
Virginia regulators filed changes to rules, fees for medical cannabis businesses
Nevada marijuana companies cite big wins from legislative session
Licensing Related
New York OKs farmers market cannabis sales, hundreds of retail licenses
NJ Regulators Scale Back Rule To Prioritize People With Convictions In Licensing For A Year
NJ-CRC Approves 91 New Jersey Adult Use Cannabis Licenses
Markets
Missouri cannabis microbusiness license application process opens Thursday
States Report Mixed Results for Cannabis Sales in Q2
Trulieve Announces Appointment of Ryan Blust as Interim Chief Financial Officer
New York City Seeks Private Lenders For New Marijuana Fund To Promote Industry Equity
International
Canadian government to start testing legal, illegal marijuana
Albania passes medical marijuana law
Luxembourg’s Marijuana Legalization Law Will Take Effect This Week, Government Says