Week of December 31, 2022 - January 6, 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? 

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 (December 31, 2022 - January 6, 2023): 64,588 1A MRBs + 3,601 1B MRBs = 68,189 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.

Mergers & Acquisitions

• High Tide Closes Acquisition of Jimmy's Cannabis Shop BC
• Aurora Cannabis sells closed Polaris facility for proceeds of CA$15 million

Negative News

• Health and Safety Advisory: Jolet Ventures LLC (DBA 710 Labs)
• Health and Safety Advisory: Sissco LLC (DBA Trenchtown)
• Owner arrested after $336,000 worth of marijuana, THC products found at Port Huron hookah store
• Pharma Company Behind FDA-Approved CBD Drug Sues A Dozen Competitors Over Alleged Patent Infringement

Legalization & Regulation

• US Virgin Islands on cusp of legalizing adult-use marijuana
• Illinois changes rules for social equity adult-use marijuana license applicants
• South Carolina lawmakers make fresh medical marijuana legalization push
• Florida adult-use marijuana legalization petition garners nearly 150K signatures
• Minnesota DFL lawmakers unveil plan to legalize adult-use cannabis

International

• Helius Launches First 'NZ Grown, NZ Made' THC Medicines
  
• Colombian government-funded health insurance now covers medical cannabis

Licensing Related

• Detroit hands out 33 licenses to recreational cannabis retailers
• Cannabis companies camp outside Riverview City Hall, hope to score licenses

Other

• Montana’s recreational cannabis sales reach almost $203 million in first year
• Detroit launches recreational cannabis sales after series of delays
• UPDATE: Kentuckians With Qualifying Conditions Can Possess Medical Cannabis
• Vermont up to 25 recreational marijuana stores in first three months of legal sales
• New York’s adult-use marijuana market faces hurdles after long-awaited sales launch
• Cannabis operator Flower One Holdings closes Canadian restructuring
• Revoked personal medical cannabis production registrations surge in Canada
• Illinois extends cannabis curbside pickup
• 'Sneak peek at Redi, Natick’s first recreational cannabis dispensary