Cannabis Industry & Marijuana Business Briefs


Cannabis REIT inks $49 million sale-leaseback deal with Ascend

Innovative Industrial Properties, a real estate investment trust that specializes in the marijuana industry, bought a cannabis cultivation and processing facility in Massachusetts from Ascend Wellness Holdings (AWH) in a $49 million sale-leaseback deal. San Diego-based IIP paid $26.8 million to Boston-based AWH – a vertically integrated, multistate marijuana operator – for a 199,000-square-foot facility […]

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Marijuana giant Acreage cuts 120 jobs, ends deals in light of COVID-19

New York-based Acreage Holdings on Friday announced it is furloughing 122 employees and taking other cost-cutting measures, becoming the latest multistate marijuana operator to slash costs in response to the coronavirus pandemic. As part of its efforts, Acreage also disclosed in a news release the resignation of a top executive and announced it is: Scrapping […]

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Canada classifies medical cannabis ‘essential’ amid COVID-19 pandemic

Canada’s federal government has deemed medical cannabis production “essential” to the country’s critical health-care infrastructure during the COVID-19 pandemic. The designation is intended to assist provinces, municipalities and businesses in their decisionmaking around the types of employees considered essential for the health, safety, security and economic well-being of the country. Even though the designation is […]

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Denver man sues cannabis firm for alleged spamming

A Denver man?filed a lawsuit alleging that the operator of marijuana stores in Colorado, Massachusetts and Nevada violated federal telemarketing law by sending him promotional text messages without his permission. In a proposed class action suit, Bryce Abbink sued Denver-based Good Chemistry for the alleged spam promotions. According to the 13-page lawsuit, the “alleged Class […]

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Massachusetts medical marijuana workers sick with coronavirus

In what could be a warning to medical cannabis business owners throughout Massachusetts, state regulators are looking into complaints that a large MMJ company was not following social-distancing guidelines and other measures to lessen the spread of the coronavirus after two employees were diagnosed with COVID-19. One person who tested positive worked at a large […]

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Deadline extended to apply for Germany’s cannabis distribution tender

The deadline to apply to be the distributor of domestically grown medical cannabis in Germany was extended from April 28 to May 26. The Federal Institute for Drugs and Medical Devices (BfArM) revealed the new deadline Tuesday. The document announcing the change did not provide a reason for the shift, but the current coronavirus pandemic […]

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Canadian cannabis firm James E. Wagner Cultivation seeks creditor protection

Financially distressed cannabis cultivator James E. Wagner Cultivation Corp. (JWC) said?Wednesday it will undergo a “consensual restructuring” and seek creditor protection in a deal with cannabis industry lender Trichome Financial Corp. Under the deal, Trichome will provide JWC with a debtor-in-possession loan of up to 4 million Canadian dollars ($2.8 million) during the restructuring. Trichome, […]

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New York adult-use marijuana legalization appears stalled

Recreational cannabis legalization in New York likely will be shelved for now because of the coronavirus crisis, but experts expect the legislation to be back in play later this year. New York Gov. Andrew Cuomo said Tuesday the state isn’t likely to legalize rec cannabis as part of its budget bill because it’s “too much, […]

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Colorado marijuana retailers get OK to resume in-store sales

Colorado regulators delivered good news to the state’s recreational cannabis store operators: They can resume?selling their products?inside their storefronts. The state Marijuana Enforcement Division (MED) bulletin informing cannabis businesses they can allow customers in their stores comes days after the governor told retailers to limit transactions to curbside pickups in an effort to reduce the […]

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