Business Issues/Benchmarks: Page 11

Less Than 1.5% of New York’s Banks, Credit Unions Service Cannabis Industry

The state launched a cannabis banking directory for the industry, but the list of financial institutions is limited.

Falling Cannabis Prices Meant Less Revenue for Arkansas Dispensaries in 2024

The state’s licensed retailers sold 21.5% more pounds of medical cannabis in 2024 than in 2023, but revenue shrank 2.5%.

Illinois Sets Record $2 Billion in Cannabis Sales in 2024

The Prairie States’ retail market grew 2.5% year-over-year, but sales attributed to out-of-state customers are down 20% since 2022.

Senate Banking Committee Witness Urges Members to Improve, Pass SAFE Banking Act

Aaron Klien, of the Brookings Institute, told lawmakers that legislation for the cannabis industry needs to address ‘costly and unproductive’ SAR filings.

TILT Holdings Signs Definitive Agreement to Divest 2 Retail Locations in Massachusetts

The cannabis company is selling its Taunton dispensary to In Good Health for $2 million and is closing its store in Brockton.

TerrAscend Announces Preliminary Q4 2024 Financial Results

The company reported a net revenue of $74.4 million ahead of its scheduled earnings conference call.

Senate Debanking Hearing Won’t Include Cannabis Witnesses; Federal Reform Unlikely This Congress

After former Senate Majority Leader Chuck Schumer sat on the SAFER Banking Act for 15 months, reform remains slim under a new Republican majority.

Safe Harbor Financial CEO Stepping Down

Sundie Seefried is planning to retire in 30 days but will remain as a board member. The company is commencing a CEO succession initiative.

The Man Behind DEA’s Federal Marijuana Scam

DEA Senior Policy Adviser Matthew Strait defied presidential mandates for medical research, MMJ International Holdings claims.

State Officials Continue Treating Cannabis Businesses as 'Piggy Banks' in 2025

California, Maryland, Maine and Mississippi are entertaining cannabis excise tax hikes this year that could put licensed businesses in jeopardy.

High Tide to Enter German Medical Cannabis Market Through Acquisition of Purecan GmbH

The acquisition will give High Tide a majority stake in Purecan’s profitable operations.

Michigan Eclipses $10 Billion in Adult-Use Cannabis Sales

The Great Lakes State finished 2024 with another record-breaking year, as the average retail price for flower dipped below $70 per ounce.

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