Chris Furnari is an award-winning business writer covering complex and highly-regulated industries. He joined THCnet as editor-in-chief in October 2019. Prior to covering the cannabis sector, he spent nearly a decade as the driving force behind Brewbound, a leading online beer business trade publication.
Furnari also writes about the alcohol business for Forbes. He is frequently tapped to provide commentary on the beer and cannabis industries, and his analysis of industry trends has been referenced by The New York Times, CNBC, USA Today, The Boston Globe, and Cincinnati Public Radio, among others.
Furnari is a proud graduate of Santa Clara University, where he was a two-sport Division I athlete and served as the sports editor of the university's official weekly newspaper.
Eaze, and online cannabis marketplace, recently published its 2020 “State of Cannabis” report highlighting trends and insights from the country’s largest marijuana market: California. According to the company, 400,000 Californians purchased a cannabis product via the Eaze platform in 2020, many of them for the first time as coronavirus-induced shutdown orders forced customers online.
After selling more than $1 billion worth of cannabis products last year, dispensaries in Illinois got off to a blazing start in 2021 by taking in more than $121 million in January. According to new data from the Illinois Department of Financial and Professional Regulation, adult-use cannabis dispensaries sold a record $88.8 million worth of cannabis during the first 31 days of the new year.
Jazz Pharmaceuticals PLC announced Wednesday plans to acquire U.K.-based GW Pharmaceuticals, which makes the cannabis-derived drug Epidiolex that is used to treat childhood-onset epilepsy. The cash-and-stock deal is valued at $7.2 billion and is expected to close in the second quarter of 2021.
Three top Senate Democrats plan to pursue “comprehensive cannabis reform legislation” during the 117th session of Congress. In a joint statement issued Monday, Senate Majority Leader Chuck Schumer (D-NY), and Sens. Ron Wyden (D-OR) and Cory Booker (D-NJ), said they would prioritize ending cannabis prohibition and work together to introduce new cannabis reform legislation in the coming weeks.
Sales of adult-use cannabis in Arizona began on Friday, less than three months after voters overwhelmingly approved legalization during the 2020 election. According to Arizona Department of Health Services (ADHS) records, 86 cannabis establishments were licensed as of January 22, 2021. Three of those businesses are listed as nonoperational, however.
Cresco Labs co-founder and former president Joe Caltabiano is launching a $100 million SPAC (special purpose acquisition corporation) aimed at acquiring cannabis companies in the U.S., Canada or international markets. The so-called blank check company, Choice Consolidation Corp., today filed a 137-page preliminary prospectus with Canadian Securities Administrators.
Cannabis sales in Colorado eclipsed a record $2 billion in 2020, state records show. According to the Department of Revenue’s Marijuana Enforcement Division (MED), adult-use cannabis shops throughout the Centennial State raked in nearly $1.6 billion year-to-date through November. Meanwhile, medical marijuana dispensaries sold more than $405 million worth of products during the 11-month period.