Week of February 11 - 17, 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?
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Hashing Out the Truth
CRB Monitor’s database growth by the numbers.
Tier 1 Marijuana-Related Business Counts
Weekly Summary (February 11 - 17, 2023):
65,595 1A MRBs + 3,638 1B MRBs = 69,233 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: Businesses that have a financial or controlling interest in a Tier 1A CRB. 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.
A Note on Changes in License Counts:
- Pre-License – 1,186 applications added in OK and ME
- Approved/Pending – 190 licenses updated to active in SD
- Active – 184 new licenses added in OK, MT, NM
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
ECGI Announces Definitive Agreement to Acquire East West Pharma Group
1606 Corp Secures $20,000,000 in Financing For The Purpose of Acquiring CBD Businesses
Negative News
Connecticut AG takes action against delta-8 THC sellers
Unlicensed New York marijuana store fined $50,000, worker arrested
Vermont removes possibly contaminated marijuana from stores
Five NYC Singles Arrested, Half-Ton of Weed Seized in NJ Drug Case
State police bust illegal marijuana growers
New details released in OK marijuana raid
Legalization & Regulation
Adult-use marijuana bill filed in Arkansas; MMJ push renewed in Kansas
Hawaii Senators Discuss New Marijuana Legalization Bill In Committee, With Plans For Vote Later This Week
California bill would allow marijuana retailers to serve food, beverages
Virginia adult-use marijuana launch in jeopardy as Republicans kill retail bill
Washington Lawmakers Approve Bill To Allow Home Cannabis Cultivation
Minnesota Marijuana Legalization Bill Approved In Ninth House Committee
Medical marijuana debate resumes in North Carolina Senate
The 2023 U.S. Cannabis Policy Reform Horizon
Wisconsin gov reintroduces marijuana legalization in budget proposal
Bill would create path to legalize recreational marijuana in Texas
Longtime Oregon marijuana regulatory director Steve Marks resigns
Trulieve adds another $5.5 million to Florida marijuana legalization campaign
THC-O is not hemp and is illegal under Farm Bill, DEA says
Licensing Related
Deceased farmer’s estate not entitled to Florida marijuana license, judge rules
Cannabis commission asking some to correct applications
International
Israeli cannabis company InterCure files lawsuit over nixed acquisition
Colombia’s cannabis exports nearly doubled in 2022
Canadian wholesale cannabis prices are off more than 40% in 2022
Canada’s federal cannabis fees ‘make industry unsustainable,’ group says
Jamaica’s First Bob Marley-Branded Cannabis Store Comes To Market
Ontario Cannabis Store plans to overhaul wholesale markups
Ready-to-use, pre-ground cannabis gains popularity in Canada
Other News
Two more adult-use cannabis operations set to open in New York
Native American cannabis businesses spread across United States
Cannabis firm High Tide splits with CFO, refiles financial statements