Week of October 21 - October 27, 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? 

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Hashing Out the Truth

CRB Monitor’s database growth by the numbers.

Tier 1 Marijuana-Related Business Counts

Weekly Summary (October 21 - October 27, 2023):  

    75,141 1A MRBs + 3,831 1B MRBs = 78,933 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. For the week of Sept. 23, the jump in pre-licenses was due to micro-business applications in Missouri.

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 and Acquisitions

Adverse Media

California Cites Previous ProTech 33 Ruling in Declaring NAWU Illegitimate  
New Mexico cannabis operator fined, loses license for alleged BioTrack fraud  
Goodblend Ordered to Pay $15.5M, Vacate Pittsburgh Facility  
Cannabis Attorney Convicted In Plot To Bribe Mass. Police Chief
Washington LCB Issues Emergency Suspension of Cannabis Testing Lab True Northwest Inc.  
Nasdaq Says Agrify Corp. Is Non-Compliant With Filing Timely Financial Reports  
Village Farms Int'l Granted 180-Day Extension to Meet NASDAQ Minimum Bid Price Requirement  

Litigation

Puerto Rico Cannabis Co. Claims Banking Co-op’s Legal Action Is Retaliation  
Marijuana companies suing US attorney general in federal prohibition challenge  
Aurora Cannabis settles patent dispute with Willow Biosciences  
Nebraska AG Targets THC Sellers In Statewide Lawsuits  
Pot Cultivator Suing NFL Players Owes $40M, Landlord Says  
Stamford settles cannabis lawsuit, paving way for Third dispensary  
NY Says Judge Erred In Blocking Pot Licensure Program  
Employee says he was fired for reporting illegal activity at Trulieve cultivation facility  
NY Judge Says Fed Master Accounts Are Privilege, Not A Right

Legalization & Regulation

Cannabis Banking Compliance Challenges States, Too
NY Senate Subcommittees Hear Challenges in State’s Legal Marijuana Rollout
31 House Lawmakers Push DEA To Consider ‘Merits’ Of Marijuana Legalization
HHS Releases Highly Redacted Letter Recommending Rescheduling of Marijuana
Bipartisan Congressional Lawmakers File Marijuana Legalization Bill
MO marijuana regulators remove more than 14,000 products from Delta Extraction's recall list
AK legislators concerned about out-of-state investors’ control of medical marijuana businesses

Licensing Related

Georgia begins low-THC marijuana oil sales at independent pharmacies
New Mexico regulators reach out to marijuana businesses that haven't filed tax returns  
Nevada cannabis board approves regulatory changes, consumption lounge licenses
D.C. Regulators Conditionally Approve 12 New Cultivator, Manufacturer Licenses 
Alabama medical cannabis licensing process reset: All 90 applicants back in the running 
Water violations at cannabis grows decrease in southern Oregon
MO Lawmaker Urges Investigation Into ‘Egregious Exploitation’ of Social Equity Licensing

Markets

Workers at Las Vegas cannabis dispensary vote to join union  
Marijuana MSO Curaleaf confirms more layoffs ahead of potential move to TSX
SNDL Consolidates Cultivation Facilities in Canada  

International

Quebec’s government marijuana retailer SQDC appoints new CEO 
Recreational cannabis stores coming to Switzerland as part of experiment
Low-dose CBD to be legal without a prescription in New Zealand
Malta Issues First EU Licenses Allowing Nonprofit ‘Cannabis Associations’ to Grow Marijuana
Irish Citizens Panel Recommends Decriminalizing Drug Possession
Drug Decriminalization Law Takes Effect in Australian Capital Territory