Week of April 23 - 29, 2022

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 (April 23 - 29, 2022): 58,095 1A MRBs + 3,328 1B MRBs = 61,423 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: CRB Monitor tiers businesses that have a financial or controlling interest in a Tier 1A CRB as "Tier 1B." 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.

Acquisition & Merger

• Halo Collective Signs a Letter of Intent to Acquire Phytocann Group, a Leading European Wellness CBD Company
• High Tide Closes Acquisition of Crossroads Cannabis, Adding Three Established Retail Cannabis Stores in Ontario
• Trulieve Acquires Greenhouse Wellness West Virginia

Negative News

• Medical Cannabis Company Sues Georgia Regulators, Alleges Licensing Process Was Marred By ‘Conflict of Interest’
• Chicago Pot Seller Hit With Sexual Harassment Suit
• Denver Marijuana Company’s Dispute with Union Highlights PR Pitfalls

Other

• Ethos Cannabis Expands into Ohio with Cultivation and Dispensary Acquisitions
• Canopy Growth Announces Cost-Cutting Initiatives, Layoffs
• Connecticut House Passes Cannabis Advertising, Gifting, Zoning Bill
• Applications Open for California State Fair’s Cannabis Competition
• Kentucky governor OKs cannabis research center, weighs MMJ legalization
• Canadian cannabis retailer Choom granted creditor protection
• Louisiana medical marijuana expansion seen as unlikely this year
• NY recreational marijuana sales likely will begin by fall, state regulator says
• County politics could hamper Montana’s recreational cannabis market
• Ohio expands THC label requirements to include delta-8 THC, minor cannabinoids