Week of March 12-18, 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 (March 12 - 18, 2022): 56,493 1A MRBs + 3,255 1B MRBs = 59,748 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.

• Colorado Recalls LivWell Cannabis Flower Over Yeast, Mold
• Colorado recalls some contaminated cannabis flower products

• New Jersey Receives 170-Plus Cannabis Applications Within Hours
• New Jersey Misses Deadline to Review Cultivation Applications
• Illinois Judge Lifts Injunction, Allows State to Issue 60 Craft Grow Licenses
• California Senator Introduces Bill to Create Tax Credit for Cannabis Dispensaries
• Bill to Create New Department to Regulate Cannabis Stalls in Arizona
• Georgia House and Senate Advance Two Different Bills to Revive Medical Cannabis Program
• Last-Minute Title Change Derails Lab Testing Bill in West Virginia
• Vermont regulators pass emergency rules for medical cannabis market

Other

• Massachusetts banks increasingly eyeing high-growth marijuana industry
• Jushi Closes Acquisition of Apothecarium Dispensary in Las Vegas
• Tilray Medical Expands Offering in Malta
• Planet 13 Sets Sight on Medical Cannabis; Eyes Florida Location
• WNBA Star Brittney Griner’s Detention in Russia Extended Until May
• UK Medical Cannabis Trials to Begin ‘As Soon as Possible’
• Oklahoma partners with NCS Analytics for medical marijuana industry oversight
• Los Angeles marijuana chief Cat Packer steps down