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CRB Monitor | Weekly Update | July 27 - August 2, 2024
Published on August 7, 2024

CRB Monitor Database: Charting Growth

Tier 1A businesses continue their slow and steady growth, gaining 60 from the previous week and 6,126 (7.9%) from the previous quarter. While active licenses continue to see quarterly declines, increases in pre-license and approved-pending applications chart a rebound for total cannabis business licenses since six months ago.

Tier 1 Cannabis-Related Business Counts

Weekly Summary: 83,669 1A CRBs + 4,049 1B CRBs = 87,718 total

1A CRBs

1A CRB-080524
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 CRBs 

1B CRB-080524
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. 

Cannabis Business Licenses

CBL-080524
Note: Inactive licenses, unlicensed, and unknown licenses have been excluded.

Beneficial Owners Count

BOR-080524
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. 

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Cannabis News of Note

A selection of relevant cannabis-related news. Items marked with logo_color_markonly 20px indicate links to licensed business profiles in the CRB Monitor database.

Adverse Media

Michigan Processor Sky Labs Charged with Tracking Violations logo_color_markonly 20px
California Crescendos Testing Lab Scrutiny logo_color_markonly 20px logo_color_markonly 20px logo_color_markonly 20px logo_color_markonly 20px logo_color_markonly 20px
NJ Recalls Green Medicine Flower Product with Bugs and Human Hair logo_color_markonly 20px

Litigation

Alabama business asks court to allow medical cannabis commission to issue its license logo_color_markonly 20px
Pot Co. Says City Ignored Order to Review Application in $14M Suit logo_color_markonly 20px
Washington Cannabis Co. Sues Payroll Firm Over Back Taxes logo_color_markonly 20px
Legalization Foes Mount New Challenge To NY Pot Program
Ex-Credit Union VP Sues Over CRB Compliance Firing

Legalization & Regulation

Cannabis recalls too slow to recover possibly contaminated product
Medical Marijuana Businesses In South Dakota Face A 70% Increase In State Fees
Senators say they want safe banking for cannabis, but take no action
Nebraska Lawmakers Hold Joint Hearing On Two Marijuana Legalization Bills

Licensing Related

Here’s Where You Can Buy Recreational Marijuana In Ohio Starting This Week
Ohio Pre-Rolls Toward Opening Day
Oklahoma imposes stricter rules for cannabis testing labs, seeks THCA ban
Cannabis Commission says it failed to collect $500,000 in licensing fees

Markets

Cherokee Tribe Will Open The First Legal Marijuana Store In North Carolina Next Month
Vireo Growth extends credit line with Chicago Atlantic logo_color_markonly 20px logo_color_markonly 20px
Marijuana company with Israel, Germany operations regains Nasdaq compliance logo_color_markonly 20px
Jushi CEO Participates in Refinancing of Company’s $53M of Debt logo_color_markonly 20px
AYR Wellness Announces Resignation of Executive Chair logo_color_markonly 20px
Casa Verde leads $2 million seed round for cannabis cultivation platform Growlink logo_color_markonly 20px

International

In four weeks, 43 cannabis clubs apply in Germany
New Zealand rule changes will ease medical marijuana exporting
Philippine House passes medical marijuana bill
Tilray’s Aphria RX Receives Cannabis Trading License in Germany logo_color_markonly 20px

 

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