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.
Florida-headquartered cannabis firm Parallel will go public on Canada’s NEO Exchange in a SPAC deal valuing the firm at more than $1.8 billion.The multistate cannabis operator — led by William “Beau” Wrigley, the billionaire heir to the iconic namesake chewing gum enterprise — will merge with Ceres Acquisition Corp., a blank check company backed by music industry entrepreneur Scooter Braun.
Cannabis sales in Michigan approached $1 billion in 2020, state records show. According to data from the Michigan Marijuana Regulatory Agency (MRA), combined sales of medical marijuana and adult-use cannabis reached $984.7 million.
Former NBA All-Star Chris Webber has teamed up cannabis investor Jason Wild, who runs the New York based investment firm JW Asset Management, to launch a $100 million private equity fund for minority cannabis business owners. The fund will “level the playing field” for BIPOC entrepreneurs who want to break into the booming cannabis industry but lack the access to funding and resources.
Chicago-based multistate operator Green Thumb Industries (GTI) has raised $100 million via the sale of 3.1 million registered subordinate voting shares to a single institutional investor at $32.03 per share.
A new nonprofit organization that “aims to advance social equity and racial justice and end federal cannabis prohibition" has been formed. Announced Monday, the U.S. Cannabis Council brings several North American cannabis industry stakeholders together in hopes of convincing policymakers in Washington D.C. to legalize marijuana.
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.