Week of March 16 - March 22, 2024
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?
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Hashing Out the Truth
CRB Monitor’s database growth by the numbers.
Tier 1 Marijuana-Related Business Counts
Weekly Summary (March 16-March 22, 2024):
75,979 1A MRBs + 3,998 1B MRBs = 79,977 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.
Adverse Media
Michigan CRA Issues Four License Suspensions
UpNorth Distribution’s Maui-Wowie Flower Recalled in California
NM Recalls Pharmers Concentrates Because of Prohibited Pesticides
OrganiGram ‘assessing options’ after unfavorable ruling on cannabis edibles
Maryland fines cannabis dispensary, Cannabus, for failing to report ownership changes
SEC Says Cannabis Investment Fund Was $500K Scheme
Litigation
Pot Co. Investor Gets Colo. Contract Breach Suit Revived
Colo. Cannabis Dispensary Hit With Wage Theft Class Action
Legalization & Regulation
10 Years of FinCEN Marijuana-Banking Guidance
Lawmakers Receive Classified Briefing On Spread Of Chinese-Backed Marijuana Farms In the U.S.
WA Governor Signs Law Exempting Medical Marijuana Patients From Paying Tax
VA Asks Congress To Amend Medical Marijuana Bill For Veterans; Opposes Psychedelics Measure
Colorado Marijuana and Hemp Bills of 2024
SD Gov. Signs Bills Banning Chemically Modified Hemp Products, Strengthening Law Enforcement
21 State Attorneys General Push Congress To Regulate Intoxicating Hemp Products
New Kansas Senate Bill To Create Limited Medical Marijuana Pilot Program
Marijuana Industry Cash Is Not Necessarily ‘Suspicious,’ IRS Says In New Guidance Memo
Virginia Budget Proposal Would Redirect Diversity Office Funds To Marijuana Business Loan Program
Federal Census Bureau Updates Marijuana Tax Revenue Map
USDA Approves Genetically Modified Hemp That Produces No THC Or CBD
Kentucky Senate Proposes Research Conditions for Funding the State's Medical Cannabis Office
Licensing Related
Alabama Waits to Order a Stay on Licensing Amid Legal Drama
New Jersey Approved New Licenses in the Face of High Prices
Montana Cannabis Regulators Approve Licensing Fee Reductions, Other Rule Changes
Acquisitions & Mergers
Curaleaf buying Canadian cannabis operator with eye on global markets
Decibel selling Prairie Records marijuana stores to Fika; CEO to retire
Markets
Marijuana ETF shutting down not long after launch
AFC Gamma backs Florida’s Sunburn Cannabis with $34M
International
Germany Marijuana Legalization Law Will Take Effect On Schedule Next Month
Tax reforms, pharmacy sales among Canada’s cannabis law review recommendations
Switzerland launches seventh adult-use cannabis pilot and largest to date
Philippine medical cannabis bill reaches Senate plenary
Malawi Parliament to Debate Cannabis Farming