Week of June 24 - June 30, 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 (June 24 - June 30, 2023):
72,870 1A MRBs + 3,690 1B MRBs = 76,560 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.
Mergers & Acquisitions
Megamerger between Cresco, Columbia Care still up in the air
Marijuana operator TerrAscend seals $25 million loan, acquires Maryland retailer
Adverse Media
Cookies Baltimore fined $81K but will reopen for MD adult-use marijuana sales
Cannabis producer Tantalus Labs restructures, lays off workers
Litigation
“Burner Distros” at the Center of Catalyst-Glass House Brands Legal Fight
Marijuana businesses sue over new, higher licensing fees
California Cannabis Growers Destroyed Own Operation, Undermined Loan, Lawsuit Claims
CannaVer Investors Accused Of Falsely Smearing Former CEO
Legalization & Regulation
Florida gov OKs Black farmer medical marijuana licenses, MMJ telehealth
Maryland Marijuana Legalization Law Officially Takes Effect As Adult-Use Sales Launch
Maine regulators issued guidance on testing requirements
Minnesota Dept. of Revenue Issued Guidance on New Cannabis Tax
Green Thumb CEO upbeat that Florida will OK Circle K medical cannabis deal
Licensing Related
Montana regulators filed rules on marijuana testing laboratory licensees
Vermont regulators issued updated marijuana social equity guidance
Markets
Michigan retailer Lume Cannabis reopens store, adds another
AYR Wellness Reaches Agreements to Defer Approximately $69M of Promissory Note Payments
TerrAscend Corp. closed the first tranche of concurrent private placements
Workers at The Botanist in Egg Harbor and Atlantic City, NJ, voted to ratify a bargaining agreement
International
Luxembourg OKs recreational marijuana ‘legalization’ – but without sales
Canada cracking down on words ‘soda’ and ‘cola’ on cannabis labels