Business Issues/Benchmarks: Page 39

As Ohio Legalizes Cannabis, the State’s Junior US Senator Opposes SAFER Banking for Industry

The “upsides of this bill are overstated,” Sen. JD Vance said about providing federal safe harbor to banks servicing state-sanctioned cannabis companies.

New York Cannabis Sales Eclipse $100M as Missouri Passes $1 Billion in 2023

The Empire State’s regulated adult-use retail market has struggled to pick up steam with a mere 27 operators licensed for commercial sales.

Lawmakers Urge Federal Officials to Update ‘Out-of-Date Guidance’ on Providing Banking Tools to Cannabis Business Owners Convicted of Cannabis-Related Crimes

A group of 20 Democratic members of the House and Senate sent a letter to the U.S. Department of the Treasury and the Financial Crimes Enforcement Network urging them to revise “red flags” for cannabis business owners.

MariMed Closes $58.7 Million Debt Refinancing

The 10-year term at a reduced annualized interest rate will result in a $4.7-million reduction to principal and interest expense in the first 12 months and $3.5 million annually for four years.

Federal Health Agencies Publish Report Detailing 1st Death Attributed to Occupational Asthma in Cannabis Production

The report examines details leading up to a Massachusetts cannabis flower production technician’s death, and says the case illustrates “missed opportunities for prevention.”

Another Path to Challenge Federal Cannabis Prohibition

Massachusetts cannabis operators and lawyers who filed a lawsuit against the U.S. attorney general over the enforcement of the Controlled Substances Act say they can’t wait—or count on—legislative action for relief.

Investigation Began Before Trulieve’s Holyoke Facility Worker Died

Massachusetts regulators received complaints about a processing facility’s conditions months before a 27-year-old collapsed and later died.

Detroit Officials Announce Round 2 Adult-Use Cannabis License Winners

The city’s Office of Marijuana Ventures and Entrepreneurship approved 37 applicants for licenses.

UPDATE: New York Regulators Drop Consideration of Lawsuit Settlement From Meeting Agenda, Continuing Licensing Injunction

The settlement is still pending finalization, but it is expected to result in the lifting of a temporary injunction that has halted the licensing process since August.

Georgia Awards 4 Vertically Integrated Cannabis Licenses

The four awardees have been vying for a market entrance for years and hope to join Trulieve and Botanical Sciences—the state’s only current operators.

AYR Wellness Reports $114 Million in Revenue for Third Quarter 2023 Financial Results

The multistate cannabis operator’s revenue is up 5% year-over-year with $20 million of operating cash flow generated for the quarter.

Maryland Accepting Applications for 1st Round of New Cannabis Business Licenses

Regulators will accept applications for 179 new licenses through Dec. 12.

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