Business Issues/Benchmarks: Page 5

TerrAscend Acquires Ohio Dispensary, Entering 6th State Market

The company’s acquisition is expected to be immediately accretive on an EBITDA and cash-flow basis.

Trulieve Reports $298M in Q1 Revenue, With 62% Gross Margin

The cannabis company generated $51 million in cash flow from operations and experienced a 9% year-over-year traffic increase for the 4/20 holiday.

California Bill to Freeze Cannabis Excise Tax Breezes, 6-0, Through Another Committee

Revenue and Taxation Committee members voted unanimously to advance Assembly Bill 564 to prevent a 26.7% increase.

Minnesota Cannabis Regulators Set Date for Adult-Use License Lotteries

The lotteries are for social equity and general applicants for three of the state’s limited license types.

California’s Cannabis Excise Tax Will Increase by 27% on July 1, CDTFA Announces

Despite legislation aiming to prevent the tax hike, the state’s tax agency indicated its hands are currently tied.

MMJ to File Emergency Injunction Against DEA’s ‘Unconstitutional Marijuana Hearing’

MMJ BioPharma Cultivation, a company seeking DEA registration to cultivate cannabis for research, is hoping to avoid an administrative hearing.

Shangri-La to Open State-of-the-Art Cultivation and Manufacturing Plants in Connecticut

The 40,000-square-foot cultivation facility will produce 1,000 pounds of trimmed flower monthly and employ 80 workers when it opens this summer.

Innovating for the Benefit of Patients in Medical Cannabis (Opinion)

Poor bioavailability formulations in orally delivered medical cannabis have left an innovation gap for patients.

High Tide Reports $6.8 Million in 4/20 Weekend Sales

The Canadian cannabis company announced its $100,000 holiday giveaway and a new employee stock option grant.

Federal Judge Rules Medical Cannabis Isn’t Covered by Insurance

The U.S. district judge determined New Mexico law doesn’t mandate coverage, and, if it did, such a law would be preempted by federal law.

Delaware’s Adult-Use Sales Launch Back On; Governor Signs FBI Fix

Gov. Matt Meyer said legislation to run background checks on industry participants will help establish ‘good-paying’ jobs for Delawareans.

Hemp Industry Trade Association of Arizona Responds to Denied Temporary Restraining Order

The association filed a lawsuit against the state’s attorney general over a deadline to pull hemp-derived THC products from unlicensed stores.

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