Stymied in Canada, the company sees better growth potential in the U.S. Cannabis companies had a rough time in the U.S. in 2022, but some of the ones based in Canada are facing an even harder time thanks to a glut in cannabis supply north of the border, which is cutting into margins. Aurora Cannabis, with its headquarters in Edmonton, saw its shares drop more than 83% over the … [Read more...] about Why Canadian Cannabis Company Canopy Growth Has Its Eyes on the U.S.
Albany region credit union gears up for cannabis business banking as NY recreational sales start
New York's first recreational cannabis sales started at the end of December, and hundreds of eager entrepreneurs are waiting to get in on the ground floor of the new billion-dollar industry. But one of the toughest challenges these entrepreneurs will face is establishing a banking relationship. Most financial institutions turn customers away at the first mention of … [Read more...] about Albany region credit union gears up for cannabis business banking as NY recreational sales start
Over $250K Made in First Day of Connecticut Recreational Cannabis Sales
Recreational cannabis sales to adults in Connecticut began this morning. In all, seven dispensaries opened as of 10 a.m. All adults 21 and older are now able to purchase cannabis products. In the first day of sales, over $250,000 has been recorded, according to Biotrack, which is the inventory tracking system used to monitor the movement of cannabis products in the state's … [Read more...] about Over $250K Made in First Day of Connecticut Recreational Cannabis Sales
Executive Inc.: Former university president creates cannabis drink to replace alcohol
Bill Gibbs, former president of University of Phoenix, is getting into the cannabis business in a unique way. He was awarded a medical marijuana dispensary license in 2012. By 2019, he sold the license to Tempe-based Harvest Health and Recreation Inc. "The multiples were too great," he said. "I was like, I've got to sell." About six months went by when he started thinking … [Read more...] about Executive Inc.: Former university president creates cannabis drink to replace alcohol
U.S. cannabis industry may be linked to international organized crime, officials say
An explosion of marijuana farms supplying legal and illegal markets may be linked to international criminal organizations, authorities say. NBC News’ Jacob Soboroff continues his reporting on the growing cannabis industry and its potential connection to human trafficking. Click here to watch the broadcast. H/T: www.nbcnews.com … [Read more...] about U.S. cannabis industry may be linked to international organized crime, officials say
Recreational Pot Sales Double in Maine
Adult-use cannabis sales soared last year in Maine, nearly doubling the total for 2021. The local news outlet Masthead Maine, citing data that was released by the Maine Office of Cannabis Policy, reports that the “state’s licensed adult-use retailers reported nearly 2.5 million sale transactions, totaling $158.9 million [in 2022],” which was up from the $82 million of sales … [Read more...] about Recreational Pot Sales Double in Maine
Delta 9 laying off staff amid cannabis industry struggles
A Manitoba cannabis company announced it is temporarily laying off about 40 employees in a push to bolster its struggling cultivation and wholesale outfits. Delta 9 said in a news release Monday the move is part of a plan to streamline cultivation operations and capacity at its Winnipeg facilities, as well as reduce company and investor costs. The company said cultivation … [Read more...] about Delta 9 laying off staff amid cannabis industry struggles
Budding new industry has highs and lows as officials look to keep marijuana from kids
HARTFORD, Conn. — Connecticut embarked into a brave new world Tuesday, a world of legal recreational marijuana sales. The state thinks they are ready to tackle the challenges ahead. Chiefly, keeping cannabis out of the hands of kids. Connecticut’s recreational marijuana bill passed during the 2022 session and does have some safe storage provisions. But on this first day of … [Read more...] about Budding new industry has highs and lows as officials look to keep marijuana from kids
CT retail cannabis stores open for first day of sales: ‘A new leaf to grow our economy’
The start of recreational marijuana sales in Connecticut Tuesday brought much fanfare but not the same level of demand seen in other states that have legalized cannabis in recent years. Ahead of the first stores opening, officials urged patience with expectation that there could be long lines and traffic in the initial days. Only a few customers waited in advance of retail … [Read more...] about CT retail cannabis stores open for first day of sales: ‘A new leaf to grow our economy’
Legal weed sales start in Connecticut at 7 medical marijuana establishments
Connecticut's first round of retail cannabis sales for adults 21 and older began Tuesday at seven existing medical marijuana establishments across the state, less than two years after Gov. Ned Lamont signed legislation making Connecticut the latest state to legalize recreational sales. As many as 40 dispensaries, along with dozens of other cannabis-related businesses, are … [Read more...] about Legal weed sales start in Connecticut at 7 medical marijuana establishments
