Week of May 27 - June 2, 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 (May 27 - June 2, 2023):
72,011 1A MRBs + 3,676 1B MRBs = 75,687 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
Marijuana producer Canopy buying 20% of Indiva
TPCO Shareholder Blasts Proposed Gold Flora Deal
Adverse Media
NJ board revokes Harmony Foundation’s cultivating and manufacturing licenses for unpaid fees
Adverse Health Events Reported Related to 1906 Midnight Drops
Litigation
Pot Biz Accused Of Breaking Deal To Sell Bob Marley Products
Arkansas Medical Marijuana Commission renews permit for Fort Smith cultivator
Legalization & Regulation
NY Regulators Try To Grease The Wheels On The Sputtering Start To AU Sales
Minnesota Adult-Use Business Licenses At Least 18 Months Away
Florida Marijuana Legalization Initiative Has Enough Signatures For 2024 Ballot
California Assembly Approves Bill To Legalize Marijuana Cafes
Illinois Lawmakers Approve Budget Bill With Cannabis Tax Provisions
Texas weed reform bills die in Senate despite bipartisan support
CA DIR Reminds Cannabis Employers about Labor Law Requirements
Colorado Governor Signs Bill To Allow Online Marijuana Sales
NJ Regulators Will Accept Certain Marijuana Licenses From Social Equity Applicants For One Year
U.S. Reps. Rosendale And Houlahan Introduce Industrial Hemp Act
Licensing Related
NJCRC Approves 106 New Jersey Cannabis Licenses & Discusses Issues
Missouri cannabis microbusiness application instructions and sample forms available
Markets
Trulieve to Shutter Operations in Massachusetts, California
Creditor bids $109M for assets of Michigan cannabis company Skymint
HEXO Corp. closed the first of two tranches of a private placement for $11.5 million