Week of June 3 - June 9, 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 3 - June 9, 2023):
72,133 1A MRBs + 3,677 1B MRBs = 75,810 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
TerrAscend to Acquire Maryland Dispensary for $22 Million
Red White & Bloom to acquire distressed Canadian cannabis operator Aleafia
Gaby Just Says No to HempFusion Purchase
Adverse Media
PR Credit Co-op Sues Dispensary Operator Over Suspicious Electronic Transactions
Trulieve to Abandon MA Amid Labor and Safety Scrutiny
Michigan Judge Trims SEC Crowdfunding Fraud Claims
Culta Owner Sanctioned, Must Sell Shares To Pay Investor
NLRB Tells DC Circ. To Back Ruling That Curaleaf’s Firing Was Illegal
Asset Freeze Expanded In SEC's $60M Pot Ponzi Scheme Suit
Litigation
Shareholders Say Innovative Industrial Properties Didn't Fully Vet Troubled Tenants
Pot Entrepreneur Settles Suit With Thrive Management Company Over Deal
Union files more charges against marijuana MSO Green Thumb
Lawsuit: Glass House Brands 'One of the Largest' Illicit Cannabis Dealers in California
Legalization & Regulation
More states allow cannabis businesses to deduct expenses as fed bill tries again to stem 280E
Oregon to crack down on illegal pot growers by holding landowners responsible
Gov. Hochul Starts Interagency Enforcement Actions Against Unlicensed Cannabis Businesses
Lawmakers take steps to ban delta-8 products
Minnesota: Fall deadline set for low-potency hemp business registration
NV Lawmakers Send Cannabis Bill To Governor That Removes Industry Barriers
WA regulators sent an update on pesticide testing at cannabis grow sites
What's Next For Connecticut's Cannabis Legalization
NY Senate Passes Bill To Let Cannabis Businesses In New York City Take Local Tax Deductions
Alabama Needs Insurers to Light Up the Budding Medical Marijuana Market in the State
Minnesota Medical Cannabis Program Updates
Nevada Gov. signed a bill requiring marijuana retailers to verify the ages of customers
Licensing Related
Maryland offers funds to help medical marijuana operators move into adult use
CO seeks higher marijuana licensing fees to bridge enforcement shortfall
First Alabama Medical Marijuana Business Licenses Awarded By State Commission
San Francisco to pause taking new cannabis retail business applications
Markets
Rhode Island marijuana cultivators beg for more retail to combat oversupply
Tilray CFO Takes to Reddit to ‘Clear The Air’ After Refinancing Deal
International
TerrAscend sells head office in Canada for under asking price
NIDA Hosts Cannabis Discussion Focused on U.S., Canada, Uruguay and France
Colombian Senators Approve Marijuana Legalization Bill, Setting Stage For Final Vote