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Cannabis MSO Verano makes $175M expansion move in Pennsylvania

Acquisition activity in Pennsylvania continues at a brisk pace, with Illinois-based Verano Holdings making a big move to add marijuana cultivation and retail capacity in the state through two deals totaling more than $170 million. The multistate operator said Thursday it signed definitive agreements to acquire a large cultivation facility as well as an equity …

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Key US senator downplays hopes for quick action on marijuana banking bill

The head of the U.S. Senate Banking Committee threw cold water on hopes for speedy action in the upper chamber on a major marijuana banking reform bill the U.S. House of Representatives passed this week in a bipartisan vote. Sen. Sherrod Brown, an Ohio Democrat, told reporters Wednesday he’s interested in the legislation – known …

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The impact on cannabis company stocks if Section 280E is scrapped

No longer applying Section 280E of the Internal Revenue Code to the legal cannabis industry would be a big benefit to companies and investors, right? Yes, but not in the way most investors expect. The impact on cannabis company stocks if Section 280E is scrapped is a post from: Marijuana Business Daily: Financial, Legal & …

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How cannabis extraction companies can reduce energy costs

Energy is one of the largest costs for any cannabis manufacturing facility, and power consumption is a large part of how the marijuana industry is having a negative impact on the environment and climate change. How cannabis extraction companies can reduce energy costs is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news …

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Federal probe into Florida congressman said to include his marijuana ties

Federal investigators reportedly are looking into whether embattled Republican Congressman Matt Gaetz of Florida took gifts in exchange for politically influencing medical marijuana policy. CNN reported Friday that U.S. Justice Department investigators are examining whether a trip to the Bahamas in 2018 with several young women was part of a pay-to-play arrangement in the marijuana …

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US appeals court denies cannabis firm Harborside’s bid to end 280E

A U.S. appeals court has rejected California-based Harborside’s bid to stamp out Section 280E of the Internal Revenue Code, dealing a major blow to the marijuana industry’s hopes of eliminating a federal tax provision that has cost companies countless millions of dollars over the years. US appeals court denies cannabis firm Harborside’s bid to end …

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Canadian cannabis edibles sales top CA$100 million in first year

Canadians purchased 109 million Canadian dollars ($87 million) worth of recreational cannabis edibles in 2020, the first full year they were available in the country, according to data recently published by Statistics Canada. While that’s only 4.2% of all regulated cannabis sales last year, experts see significant growth happening in the coming year as inventory …

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New York’s marijuana social equity program eyed as possible game changer

New York recently enacted an adult-use marijuana law that many industry experts believe has the most robust provisions yet for including minorities, women, war veterans and struggling farmers in the state’s newest industry. But when the recreational marijuana market launches in 12 to 18 months, will New York be on the path toward becoming the …

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General Cannabis enters retail business via $39.5M Trees deal

A Denver marijuana wholesale and consulting company broke into the retail side of the industry by agreeing to purchase a cannabis retailer with operations in Colorado and Oregon. General Cannabis Corp. announced Thursday a definitive agreement to pay $39.5 million – 13% in cash, 87% in stock – to buy Trees, which currently operates one …

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