Week of July 16 - 22, 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 (July 16 - 22, 2022): 60,418 1A MRBs + 3,409 1B MRBs = 63,827 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

• Cosmos Holdings Announces Agreement to Acquire Cana Laboratories, a Legacy European Pharmaceutical Company Established in 1928; Vertically Integrating its Manufacturing and R&D Capabilities and Expanding its Product Pipeline with New Brands

Negative News

• CA cannabis grower agrees to $825K class-action wage settlement
• Inflated THC Test Results in Arkansas? RICO Lawsuit Claims Conspiracy Among Four Licensed Companies
• 165,000+ Illicit Cannabis Plants Seized in Mendocino County
• $27M Settlement Reached In Cannabis Co. Merger Suit - Law360

Licensing-Related

• Mississippi Businesses Rush To Compete For Medical Marijuana Licenses
• Consumer Protection Announces Next Steps in Cannabis Cultivation Licensure Process
• New York finalizes rules for retail marijuana applications, adds 20 cultivators
• 1st licensed marijuana dispensary opening next week

Legalization and Regulation

• D.C. Mayor Signs Law to Bar Employers From Firing Workers for Failed Cannabis Tests
• Colorado Governor Issues Executive Order to Protect Employees’ Off-Duty Cannabis Use
• New York Regulators Approve Regulations Governing Adult-Use Cannabis Sales

International

• Germany, Luxembourg, Malta And The Netherlands Discuss Marijuana Legalization At Historic Joint Meeting

Other

• Denver weighs marijuana delivery and social equity changes
• Seven US marijuana CEOs saw compensation top $4 million in 2021
• Marijuana MSO Red White & Bloom delays results due to audit
• New York Provides Grants to Public Colleges to Fund Cannabis Education
• Cannabis Operator in Nevada, The Source+, Announces Team Expansion
• Minnesota’s Medical Cannabis Patients Can Access Edibles Starting Aug. 1
• Flora Growth Appoints New CFO, Board Member
• Curaleaf International Appoints Miles Worne As President
• Metrc Announces New Track-And-Trace Government Contract with the State of Rhode Island