Week of May 21 - May 27, 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 (May 21 - 27, 2022): 59,364 1A MRBs + 3,388 1B MRBs = 62,752 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

• Ayr Wellness Closes Acquisition of Herbal Remedies Dispensaries, LLC
• Item 9 Labs Acquires 43 Canadian Retail Locations
• Lowell Farms to Acquire Automated Pre-Roll Manufacturing Assets From Canadian Innovator

Negative News

• Oregon marijuana entrepreneur countersues Curaleaf exec for $625M
• Oklahoma recalls 99 medical marijuana products, suspends lab’s license
• Hundreds of cannabis store workers in Quebec go on strike
• Nerds candymaker sues cannabis company over trademark allegations
• FDA warns hemp companies not to make CBD for animals

Other

• Sanctuary Medicinals Opens Medical Dispensary in West Palm Beach, Florida, the Company's Eighth Location in the State
• Ayr Wellness Reports First Quarter 2022 Results
• U.S. Virgin Islands Officials Working Toward Approval of Medical Cannabis Regulations
• Tilray Launches CBD Lifestyle Brand, Pollen, on Amazon UK
• New Jersey Approves Six Additional Adult-Use Cannabis Retailers
• Rhode Island becomes 19th state to legalize adult-use marijuana
• NJ sells $24M of recreational cannabis in first month; more licenses issued
• Marijuana MSO MedMen successfully fends off $60 million Arizona lawsuit
• Delaware governor vetoes marijuana legalization bill, setting up historic showdown with Legislature
• Three Illinois social equity applicants secure permits to build craft grow locations
• Vt. Cannabis Control Board issues more retail cultivation licenses
• Trulieve Opens Two Medical Dispensaries in West Virginia