Week of April 30 - May 6, 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? 

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Hashing Out the Truth

CRB Monitor’s database growth by the numbers.

Tier 1 Marijuana-Related Business Counts

Weekly Summary (April 30 - May 6, 2022): 58,781 1A MRBs + 3,344 1B MRBs = 62,125 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

• MSO MariMed buys Illinois cannabis licensee Green Growth Group
• Planet 13 Announces Expansion of STIIIZY Part

Negative News

• FDA Issues First Batch of Warning Letters to Delta-8 THC Product Manufacturers
• Former US House Speaker Boehner sued over marijuana lobbying group
• New Mexico Cannabis Control Division Lifts Cease and Desist Order from Producer Involved in Medical Cannabis Recall

Other

• Ontario cannabis store count approaches 1,900 amid retail glut worries
• New York hemp growers prep to cash in on recreational marijuana market
• Cannabis producer CannTrust changes name to Phoena
• Curaleaf Expands Retail Presence in Florida with Three New Dispensaries
• Vermont Cannabis Control Board Misses May 1 Deadline to Begin Issuing Adult-Use Cannabis Licenses
• Colorado Department of Agriculture Approves Two More Pesticides for Cannabis
• Nevada Says ‘No’ to Alcohol in Consumption Lounges
• South Dakota Group Submits Signatures to Place Adult-Use Cannabis Legalization Measure on November Ballot
• New York Cannabis Regulators Approve 36 New Grow Licenses
• Connecticut quasi-public invests $1.25 million in Colorado-based cannabis company, angering activists