Week of June 10 - June 16, 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?
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 (June 10 - June 16, 2023):
72,388 1A MRBs + 3,689 1B MRBs = 76,077 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.
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. Items marked with 
indicate links to licensed business profiles in the CRB Monitor database.
Acquistion/Merger
Culta to acquire 2 female-owned medical marijuana dispensaries in Maryland
Adverse Media
Maryland Regulators Shut Down Cookies Baltimore Over Advertising, Security Breaches
Michigan revokes Candid Labs’ license after inspectors find illicit, untagged cannabis
Health and Safety Advisory: Kind Care of Colorado Tests Positive for Yeast and Mold
Michigan posts a monthly report on disciplinary actions taken against marijuana businesses
Litigation
Medical marijuana company Better sues InterCure for $35 million
Bank To Shell Out $5M To End Pot Co.'s Tax Payment Claims
Aeon Botanika Receiver Seeks Approval Of Sale Of LA Licenses
County judge voids 27 medical marijuana laws, says AK General Assembly overstepped
Legalization & Regulation
OK Gov. Vetoes Omnibus Medical Cannabis Regulation Bill, Enacts Other Laws
NV Governor Signs Omnibus Marijuana Bill To Increase Possession Limits, Remove Industry Barriers
Rhode Island Gov. McKee signs legislation allowing cannabis dispensary advertising into law
Law enforcement veteran appointed Delaware marijuana commissioner
Minnesota moves closer to recreational marijuana market with new agency
Connecticut Marijuana Industry Tax Breaks Signed Into Law By Governor
Vermont changes cannabis laws with hopes to reflect the growing industry
New York Cannabis Control Board Regulator Steps Down
Arizona: Voluntary recall of certain marijuana products due to possible Aspergillus contamination
Medical cannabis tracking system lagging, MD creates emergency guardrails through Monday
Changes to Virginia’s Food and Drink and Industrial Hemp Laws Take Effect July 1
Oregon Commission OKs Regs For Pot Retailers' Tax Compliance
Connecticut regulators filed revised cannabis testing rules
Licensing Related
More Rhode Island adult-use cannabis stores coming, new regulator says
New York awards adult-use marijuana licenses to Finger Lakes retailers
Alabama Delays Medical Marijuana Business Licensing Over Inconsistencies In Application Scoring
Markets
CRB Monitor Chart of the Month: Cash & Cash Equivalents
Trulieve Cannabis Corp. has a new chief financial officer
Columbia Care Board Director From Green Leaf Merger Resigns
Cannabis producer Hexo’s accumulated losses surpass C$2 billion
The Top Five Cannabis Companies Ranked by Credit Scores
RIV Capital Looks to New NY Cannabis Regulations for Retail Market Entry
On Juneteenth, Two Black Industry Leaders Say Social Equity Falls Short
International
CNMI Cannabis Commission issues marijuana processor license to Saipan Select
Scientists Find Cannabis Compound Inside a Totally Different Plant in Brazil