Industry Headlines: Page 271

Adult-Use Cannabis Legalization Bills Advance in New Hampshire and New Mexico, MedMen CEO Steps Down: Week in Review

A New Hampshire House committee approved legislation to legalize the possession and limited cultivation of cannabis this week, while a New Mexico Senate panel voted to advance that state’s adult-use legislation.

Missourians for a New Approach Collecting Signatures to Place Adult-Use Marijuana Initiative on November Ballot

The effort is being backed by many of the same Missourians and groups that passed the state's medical marijuana constitutional amendment in 2018.

MedMen CEO Adam Bierman Steps Down, Surrenders Super Voting Shares in Company

The news comes amidst a state lawsuit and a series of layoffs at the company in California.

SEC Alleges Pyramid Scheme Run by Fraudulent Cannabis Business Executives in California, Washington

All told, $4.85 million was tied up in Green Acre Pharms, a licensed cannabis business that never generated returns for investors.

Global Cannabis Market to Hit $42.7 Billion by 2024, According to Updated Report from Arcview Group, BDS Analytics

Worldwide legal cannabis spending hit $14.9 billion in 2019, up from $10.2 billion in 2018.

NewTropic Launches Cannabis Manufacturing Facility in Santa Rosa, Calif.

The facility, which is in the process of becoming cGMP certified, will produce bulk cannabis crude and distillate, flower and pre-rolls, and all forms of cannabis concentrates, with edibles and beverages coming online in 2020.

Nabis Holdings Inc. to Enter into Joint Venture with Israeli Pharmaceutical Company Panaxia

Through the joint venture, the companies will launch multiple pharma-grade THC and CBD cannabis products in Arizona in the second half of 2020.

Cresco Labs Closes Sale-and-Leaseback with Innovative Industrial Properties for Ohio Facility

The company has closed on the agreement to sell its Yellow Springs, Ohio, property to Innovative Industrial Properties, Inc.

Flower One Announces Appointment of Molly Hemmeter to Board of Directors

The appointment advances the company's goal to broaden diversity and industry experience on its board.

Why Insurance Policies for Directors and Officers Are Essential in the Cannabis Industry

Cannabis businesses run a higher risk of facing a “D&O claim,” or a lawsuit aimed directly at the directors and officers of the company rather than at the company itself.

National Cannabis Industry Association Releases Extensive Report on Vaping Illness and Related Policy

The report contains detailed information on proximate causes and provides recommendations for displacing the illicit market and minimizing potential for future public health issues.

Driven Deliveries to Acquire Humboldt Heritage Inc

Driven Deliveries will purchase Northern California-based cannabis distribution company, Humboldt Heritage Inc., and its subsidiaries, Humboldt Sun Growers Guild LLC and Grateful Eight LLC.

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