Category Archives: marijuana cultivation

Marijuana firm Cresco Labs posts $3.9 million net income in third quarter

Chicago-based Cresco Labs posted $3.9 million in net income in its fiscal third quarter, reversing its year-ago loss of $200,000. The multistate cannabis operator saw revenues spike 335% in the quarter to $12.2 million compared to the same period in 2017. Year-to-date revenue was up nearly 250% to $25.1 million. Since the beginning of the year, […]

Chart: Dozens of marijuana licenses at risk after Oregon inspections

More than a quarter of Oregon’s outdoor recreational marijuana producers had deficiencies or potential compliance violations in their harvest processes, according to the results of Operation Good Harvest – the state’s effort to observe and inspect the 2018 outdoor cannabis harvest. Of the 354 licensed outdoor recreational grow sites inspected by the Oregon Liquor Control […]

Cannabis firms Cannex Capital, 4Front announce all-stock merger

Cannex Capital Holdings of Vancouver, British Columbia, and 4Front Holdings, an Arizona-based multistate marijuana firm, have announced plans to merge. The all-stock deal – which places an approximate valuation of more than $230 million on 4Front – is subject to shareholder approval and reviews by the Canadian Securities Exchange (CSE). The combined company will trade […]

Green Thumb Industries buys Nevada cannabis business in $290 million deal

Green Thumb Industries (GTI), a multistate marijuana company, has agreed to purchase a Nevada-based, vertically integrated cannabis company in a stock and cash deal valued at about $290 million. The deal expands Chicago-based GTI’s footprint in Nevada, home to one of the fastest-growing, adult-use MJ markets in the nation. The acquisition includes: Three retail stores in […]

Oklahoma discloses medical marijuana licensee info, raises ‘security issues’ for MMJ firms

Some in Oklahoma’s medical cannabis industry are worried about the public disclosure of  licensed locations after a cannabis grower’s property was ransacked. Chip Paul, chairman of Oklahomans for Health, the group that spearheaded the voter-approved medical marijuana initiative that passed in June, told The Norman Transcript that the state’s online publication of the locations “creates […]

Medical cannabis cardholders, growers dropping off in Oregon

Medical marijuana patients and growers across Oregon are abandoning the state’s MMJ program, according to reports. Licensed medical marijuana companies are increasingly up against a combination of legislative red tape and a different kind of market force: the convenience of recreational retail sales. The number of patients registered with the Oregon Medical Marijuana Program (OMMP) […]

MD orders medical cannabis products quarantined without explanation

The Maryland Medical Cannabis Commission issued a formal hold on all products from one of the state’s licensed medical marijuana growers, prohibiting those goods from being sold until further notice. But the agency hasn’t given a clear reason for its decision. According to The Washington Post, cultivation company ForwardGro’s products were placed on an “administrative […]

Fast pace of Canadian cannabis license approvals fails to avert supply shortage

Canadian regulators approved new cultivation space at a frantic pace in the months leading up to legalization, but not fast enough to avert the widely predicted shortage of legal cannabis. In the month before the launch of Canada’s legal recreational cannabis market, facilities licensed by the federal government to cultivate marijuana had surpassed a cumulative […]

Canadian marijuana producer Aphria aims to list on the New York Stock Exchange

Aphria, one of Canada’s largest cannabis producers, has filed documents with U.S. securities regulators signaling its intent to list its shares on the New York Stock Exchange. If approved, the Ontario-based company will join a growing list of Canadian cannabis firms turning to the top U.S. exchanges to tap the globe’s largest pool of institutional […]

Louisiana’s first medical cannabis harvest to start this week

The first legal crop of medical marijuana in Louisiana is set to be harvested this week. However, testing is still necessary before product can ship, and the state hasn’t yet selected a third-party laboratory. The licensed grower working with the Louisiana State University Agriculture Center, GB Sciences, expects to start the drying process by next week, The […]