Week of March 19 - March 24, 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 (March 19 - March 24, 2023):
67,156 1A MRBs + 3,651 1B MRBs = 70,807 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
ECGI Announces Intent to Acquire 8bit Cannabis Brand Widens to 20 Dispensaries
Negative News
Oklahoma Notches Win Against Fraudulent Ownership of Medical MJ Businesses
2nd lawsuit filed against cannabis REIT Innovative Industrial Properties
Cocaine announcement by marijuana company Adastra leads to lawsuit
Health and Safety Advisory: Carrick-Harvest, LLC (dba Veritas Fine Cannabis)
SEC charges cannabis firm American Patriot Brands with fraud
Health and Safety Advisory: MJ Durango LLC (dba Durango Cannabis Company)
Legalization & Regulation
Liquor Wholesalers Advocate Federal Legalization of Adult-Use Cannabis
Gov. Hochul Says New York Illicit Cannabis Market Is 'Unacceptable'
Texas Bill to Expand Qualifying Conditions for Medical Cannabis Clears Committee
Long Island cities opt out of marijuana retail, limiting options for store operators
Medical marijuana legalization advances in Kentucky, dies in Kansas
US Lawmakers Reintroduce Bipartisan Bills to Regulate CBD
Bipartisan senators file bill to ease federal restrictions on industrial hemp farmers
Licensing Related
Florida legislation would admit more Black farmers into medical cannabis industry
International
Switzerland nears launch of recreational cannabis trial
Other News
Curaleaf closing cannabis grow facility in New Jersey, laying off workers
First Arizona cannabis store owned by Black woman to open 4/20
Metrc expands Maryland track-and-trace contract to adult-use marijuana market
Oklahoma proposes extending marijuana grow license moratorium
Pennsylvania court rules medical cannabis costs can be reimbursed
Black-owned, legacy Detroit marijuana dispensary opens on west side
Body and Mind Announces Q2 2023 Financial Results
Marijuana products under voluntary recall in Arizona due to potential contamination
Oregon firm defends lawsuit challenging state ban on interstate cannabis sales