Week of March 26 - April 1, 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 (March 26 - April 1, 2022): 56,903 1A MRBs + 3,286 1B MRBs = 60,189 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.

Acquisition & Merger

• High Tide to acquire Boreal Cannabis Company, adding two established retail cannabis stores in Northern Alberta
• Sundial Growers completes acquisition of Alcanna

• US regulators hit 7 CBD companies with warning letters over COVID-19 claims
• New lawsuit filed over Arizona's adult-use marijuana social equity licensing
• State: Moldy products recalled from Sacred Garden cannabis stores
• Nevada Cannabis Compliance Board - Public Health and Safety Bulletin 2022-02

Other

• The 420 Hotels obtains a provisional license, paving the way for Denver's first hotel with a legally licensed lounge for cannabis consumption
• Vermont receives more than 400 prequalification applications from cannabis businesses
• Curaleaf named to TIME's list of the world's 100 most influential companies
• Four medical cannabis licenses approved in Aberdeen, South Dakota
• New legislation would authorize more medical cannabis operators in Minnesota
• Pennsylvania reverses decision on CBD edibles
• Marijuana products present unique testing hurdles
• Deadline is imminent for California provisional cannabis licensing
• Perfect Union becomes first dispensary to receive recreational cannabis approval in Napa