Industry Headlines: Page 246

California Offers License Fee Deferrals to Cannabis Businesses, Massachusetts Adult-Use Dispensaries Prepare to Reopen with Curbside Pickup: Week in Review

This week, California regulators unveiled a plan to defer license fee payments for 60 days to provide financial assistance to cannabis licensees affected by the COVID-19 pandemic.

Nevada Dispensary Association Releases Nevada Cannabis Industry 2020 Economic Impact Report, Announces Total Taxable Sales at $692 Million in 2019

The report highlighted the revenues and other important economic effects the cannabis industry has in Nevada in fiscal year 2020, as well as projections going forward.

FSD Pharma Monetizes Non-Core Asset with Sale of Partial Equity Stake in Pharmadrug Inc.

The buyer holds the option to purchase additional shares.

Aurora Cannabis to Strategically Enter the United States with Acquisition of Reliva, LLC, a Mass Retail CBD Platform

The acquisition provides Aurora with a retail hemp-derived CBD brand that is currently sold in more than 20,000 mass retail U.S. locations.

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.

Michigan Expands Social Equity Program

The state is increasing the number of disproportionately impacted communities from 41 to 184 and will no longer require licensees to reside in those communities to receive certain fee reductions for their first two years in operation.

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.

Adult-Use Cannabis Dispensaries in Massachusetts Can Offer Curbside Pickup Starting Memorial Day

After being shut down for about two months, adult-use retailers can reopen, with restrictions, as part of Gov. Charlie Baker's four-phase plan to reopen the state.

DNA Genetics Renames ‘Miss USA’ Cannabis Strain ‘Miss DNA’

The move is intended to clear up any confusion with the Miss USA beauty pageant.

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.

Oklahoma Regulators Issue State’s First Medical Cannabis Product Recall

The Oklahoma Medical Marijuana Authority has recalled vape cartridges and infused mints produced by Moon Mix.

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