Finance: Page 49

Charlotte’s Web Reports a Loss in Q1 as Sales Dip and Expenses Rise

The CBD manufacturer recently reported a loss of $11M for Q1 versus a profit of $2.3M the same time last year as sales take a hit amid COVID-19 and operating expenses rise.

Federal Government Cancels Maine’s Mental Health Grants Due to State’s Medical Cannabis Program

A federal agency has cut $3.3 million in funding because Maine allows students to use medical cannabis.

The Green Organic Dutchman Inks National Supply Agreement with Medical Cannabis by Shoppers

The strategic relationship provides opportunities for future growth as the Canadian medical market continues to evolve.

The Valens Company Enters Australia’s Cannabis Market with Agreement with Country’s Largest Distributor, Eyes Small-Sized Facility Build Out Down the Road

The agreement provides The Valens Company with strategic access to the second largest cannabis market outside of North America.

4Front Ventures Announces Closings of $5.8 Million U.S. Private Placement and Sale of Non-Core Pennsylvania Retail Assets

The closing of these transactions marks significant progress towards the company's stated objectives of being fully-funded and achieving cash flow positivity in the second half of 2020.

California Regulators Offer 60-Day License Fee Deferrals to Cannabis Businesses During COVID-19 Pandemic

The deferrals, which apply to businesses with state licenses that expire between now and June 30, are meant to provide financial assistance to licensees affected by the coronavirus crisis.

U.S. House Passes SAFE Banking Act as Part of New Coronavirus Relief Bill: UPDATE

The bill now heads to the U.S. Senate, which has never before passed cannabis banking legislation.

U.S. House Includes SAFE Banking Act in New COVID-19 Relief Bill, Montana Cannabis Legalization Campaign Launches Signature Drive: Week in Review

This week, House lawmakers included legislative language from the SAFE Banking Act in new legislation aimed at economic relief amid the coronavirus pandemic.

Terrace Global Announces Agreement With the Flowr Corporation to Jointly Develop Outdoor Medical Cannabis Project in Portugal

The agreement fast-tracks Terrace Global’s operations in Portugal and provides a foundation for future extraction in the E.U.

Maine Eliminates Residency Requirement for Adult-Use Cannabis Businesses

The state reached an agreement with a cannabis operator that repeals a rule requiring applicants to live in Maine for a minimum of four years.

CV Sciences Q1 Revenue Down 45% From Last Year

With fallout from COVID-19 among other challenges, the company has had to right-size its staff and cut back on salaries.

Newly Released Memo Advises DEA to Change Cannabis Research Regulations, Minnesota Lawmaker Introduces Adult-Use Legalization Bill: Week in Review

This week, a 2018 memo surfaced, indicating that the Drug Enforcement Administration’s practices have been non-compliant with international drug laws for decades.

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