Week of December 17 - 23, 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 (December 17 - 23, 2022): 64,235 1A MRBs + 3,600 1B MRBs = 67,835 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.
A Note on Drop in License Count: Last week there was a dip in the license count for "Approved/Pending" (Uniform License Status updated to "Active")
- Approved/Pending – Updated ~ 250 licenses to "Active" (Reported Status = "Active") (Ontario)
- Pre-License – Added 22 new "Pre-Licenses" (Reported Status = "Applicant" and/or "Pre-Qualification") (New York & Michigan)
(Note: The Reported License Status "Active" maps to the Uniform License Status "Active." The Reported License Statuses "Applicant" and "Pre-Qualification" map to the Uniform License Status "Pre-License.")
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.
Mergers & Acquisitions
- Trulieve Announces Settlement with OSHA
- Certified Group Announces Investment in Kaycha Labs Knoxville, TN Hemp and CBD Testing Laboratory
Negative News
- Washington Regulators Seize 5,000 Cannabis Plants, Suspend License
- Michigan regulators posted a report on disciplinary actions taken against marijuana businesses in November.
Legalization & Regulation
- Florida adult-use cannabis legalization petition gathers 50,000+ signatures
- Tennessee Lawmakers to File Bill to Legalize Adult-Use Cannabis
- D.C. Lawmakers Approve Bill To Automatically Expunge Marijuana Records, Sending It To Mayor
- Majority Of Texas Voters Back Marijuana Legalization, And Three In Four Support Decriminalization, Poll Finds
- North Carolina Governor Says There’s ‘Opportunity’ To Legalize Medical Marijuana In 2023, Also Reiterating Support For Broader Decriminalization
International
Licensing Related
- Florida issues more medical marijuana business licenses, increases fees
- Majority of Missouri medical marijuana licensees apply to join adult-use market
- Pritzker Administration Announces Timeline for Next Cannabis Dispensary License Lottery
- See who won Louisiana's exclusive 10th medical marijuana pharmacy license
Other
- Vermont recreational cannabis sales total $2.6 million in first month
- First recreational marijuana store in New York to open Dec. 29, regulators say
- Canada’s SNDL shifts retail strategy in deal with Nova Cannabis
- Cannabis wholesale platform LeafLink lays off 80 workers
- High Tide Opens Two New Canna Cabana Stores in North York, Ontario and Winnipeg, Manitoba
- Rhode Island OKs sixth adult-use marijuana retailer as sales near $1.4M
- Canadian recreational cannabis sales decline in October
- Publicly funded marijuana research center launching in Chicago
- Canada’s legal cannabis market winning over illicit consumers, survey suggests
- New York rolls out plan to differentiate cannabis licensees from illicit operators
- Colorado Adds 4 Products to List of Pesticides That Can Be Used on Cannabis
- Curaleaf Celebrates Opening of Tallahassee, Fla. Dispensary
- Maryland Medical Cannabis Commission Chair Steps Down as Regulatory Authority Transitions to Alcohol and Tobacco Commission
- TerrAscend Announces Amendment of Pennsylvania Credit Agreement
- Multistate Cannabis Delivery Company Doobie Launches Delivery Service in San Francisco
- Judge Denies Plaintiff’s Request to Halt Detroit’s Adult-Use Cannabis Licensing Process
- Oregon regulators published a compliance bulletin about changes to marijuana rules.
- Verano Announces Opening of MÜV Lake City