Chris Furnari
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.
Posts by Chris Furnari
Green Thumb Industries is looking to raise as much as $150.6 million through the sale of 10 million subordinate voting shares on the over-the-counter (OTC) market, the cannabis firm revealed Friday. In a filing, the Chicago-based company said it intends to use the proceeds for “general corporate purposes, including working capital, operating expenses and capital expenditures.”
Cresco Labs announced Thursday its second quarter financial results, reporting record revenue of $94.3 million – a quarter-over-quarter increase of 42%. The multistate cannabis firm, which is headquartered in Chicago, said it experienced 30% or more revenue growth in all of its markets except Massachusetts, where adult-use dispensaries were ordered to close for two months at the beginning of the
Democratic presidential nominee Joe Biden and running mate Sen. Kamala Harris will sit down with ABC’s David Muir for their first joint television interview on Sunday evening. Cannabis industry professionals will no doubt be tuning in to see if Biden and Harris are questioned about marijuana. Can Harris push Biden to support federal adult-use cannabis legalization?
Curaleaf Holdings announced Monday its second quarter financial results, reporting record managed revenue of $121.4 million — a quarter-over-quarter increase of 16%. The Massachusetts-based marijuana firm, which last month became the country’s largest cannabis company after closing its acquisition of GR Companies (Grassroots), also said its first half revenue surpassed $226 million.
Dutchie, a leading e-commerce solution for the cannabis industry, has closed a $35 million Series B funding round. In a news release, Dutchie said several high profile investors — including rapper Snoop Dogg, NBA star Kevin Durant, and former Starbucks chairman and CEO Howard Schultz, participated in the round.
Leafly, an online cannabis information resource and commerce platform, has named general counsel Yoko Miyashita as its next chief executive. Effective Tuesday, Miyashita will supplant outgoing CEO Tim Leslie, a former Amazon executive who was tapped to lead the Seattle-based company in March 2019.
The Montana Secretary of State last week certified two complementary petitions — Initiative 190 and Constitutional Initiative 118 — that, if passed, would legalize and tax cannabis products for adults over the age of 21. Backed by New Approach Montana, the legalization measures aim to establish a regulated adult-use cannabis market in Big Sky Country.
Sales of cannabis soared to new highs in Colorado during the month of June as retailers sold a record $198 million worth marijuana products, according to the Department of Revenue’s Marijuana Enforcement Division.
Green Thumb Industries (CSE: GTII, OTCQX: GTBIF) announced Wednesday its second quarter financial results, reporting total revenue of $119.6 million — a quarter-over-quarter increase of 16.6%. The Chicago-based cannabis firm, which boasts 96 retail licenses and has operations in 12 U.S. markets, also said its first half revenue of $222.2 million exceeded total 2019 revenue ($216.4 million).
Acreage Holdings announced Wednesday plans to sell its Baltimore, Maryland medical marijuana dispensary to an unnamed buyer. The sale, which is pending approval from Maryland Medical Cannabis Commission, comes one day after the vertically integrated company said it grew quarter over quarter revenue 12%, to $27.1 million, in Q2.
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