Company news, mergers, and market analysis
45 articles
BusinessThe Cannabist Company extends its forbearance agreement with senior noteholders to February 2025, buying time for debt restructuring as the MSO navigates financial challenges affecting the broader cannabis industry.
BusinessIllinois cannabis sales fell 13% to $1.5B in 2024 even as unit sales hit 58M items, highlighting intensifying price competition in the maturing market.
BusinessGreen Thumb Industries secured an additional $50 million in senior debt financing, expanding its existing credit facility as the multi-state operator continues national growth.
BusinessCanada's legal cannabis market hit a record C$503.7 million in December sales, up 5.3% from November, according to Statistics Canada data. The milestone reflects continued growth in the mature market despite ongoing industry challenges.
Woodstock Cannabis differentiates itself in the legal market by emphasizing whole-plant products and counterculture heritage over high THC percentages, betting that cultural authenticity will resonate with maturing consumers.
BusinessMichigan cannabis sales fell 8.3% year-over-year to $226.8 million in January, with medical sales collapsing to just $0.4 million as market oversupply and economic pressures weigh on the industry.
BusinessCuraleaf closed a $500 million private placement of senior secured notes at 11.5% interest, one of the largest cannabis debt deals this year as MSOs navigate limited access to traditional capital markets.
BusinessHigh Times launches recruiting platform to help cannabis companies manage overwhelming applicant volumes and find qualified candidates faster in an increasingly competitive job market.
BusinessMassachusetts' adult-use cannabis market surpassed $9 billion in total sales since 2018, with the milestone coming as residents stocked up ahead of a major winter storm. The state logged $1.65 billion in sales over the past year.
BusinessCalgary's Decibel Cannabis closed a $61 million credit facility with ATB Financial as Canadian LPs continue restructuring debt amid market consolidation and falling wholesale prices.
BusinessLegal cannabis sales declined 3.1% in January compared to December across 15 U.S. markets tracked by BDSA, reflecting typical post-holiday patterns amid ongoing industry challenges.
Actor Jim Belushi has closed cannabis cultivation at Belushi's Farm in Oregon, ending an operation that ran since 2015 and was featured in a Discovery+ reality series.
BusinessBenzinga's cannabis conference series debuts new IgniteIt branding in Washington D.C., maintaining its intensive networking format while potentially signaling a broader focus beyond pure investment discussions.
BusinessTrulieve Cannabis closed a $60 million private placement of senior secured notes at 10.5% interest, adding to its debt load as the Florida-dominant operator navigates tight capital markets and expansion opportunities.
BusinessCannabis rescheduling to Schedule III will subject operators to federal cybersecurity requirements, including banking data protection rules and IRS record-keeping standards. Most companies lack adequate compliance programs.
BusinessAnoka, Minnesota launches the state's first government-run cannabis dispensary Feb. 6, using an appointment-only model during its opening period before transitioning to walk-in service.
BusinessIllinois released November and December cannabis sales data Friday, ending a months-long reporting gap caused by the state's transition to the Metrc tracking system.
BusinessThe Global Cannabis Stock Index fell 10.6% in January to 5.89, following a 21.8% Q4 2024 collapse, as cannabis equities continue struggling with regulatory uncertainty and market oversupply.
BusinessScotts Miracle-Gro is selling its Hawthorne cannabis supply subsidiary to MSO Vireo Growth, ending years of direct ownership while maintaining an equity stake in the business.
BusinessCannabis dispensaries are hemorrhaging front-line staff, with some seeing 60-80% annual turnover among budtenders. The constant churn drives up costs, undermines customer service, and threatens profitability across the retail sector.
BusinessChicago's United Center will sell hemp-derived THC beverages through a partnership with Rythm Inc., becoming the first major US sports arena to offer intoxicating hemp products at events.
BusinessEast Coast cannabis dispensaries saw Green Wednesday-level sales as customers stocked up before a major winter storm hit four states, signaling the industry's growing mainstream status.
BusinessDispensary owners reveal unexpected challenges from security costs to compliance complexity that new cannabis retailers should anticipate before opening.
BusinessCanadian cannabis sales hit C$477.9M in November, up 6.6% from October. More significantly, per-day sales jumped 10.2%, suggesting stronger consumer demand as the legal market matures.
