Industry Headlines: Page 276

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.

Hemp Business Sues Carson City, Nev., After City Denies Its Permit

Tahoe Hemp LLC is accusing the city of breaching a contract with the property’s former owner.

CBG and CBC Kill Gastrointestinal Cancer Cells in Preliminary Study

Funded by U.S. company Cannabics Pharmaceuticals, a firm focused on the development of cannabinoid therapies for cancer treatment, Israeli researchers have demonstrated the anti-tumor efficacy of CBG and CBC against human gastrointestinal cancer cell lines.

Cresco Labs Announces Signing of Senior Secured Credit Agreement

An initial drawdown of up to US$100 million is expected at the end of January, and the agreement includes a mutual option to increase to up to US$200 million.

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