Illinois cannabis dispensaries continued to break records in September, as adult-use sales increased 5.7% to more than $67.64 million. The Illinois Department of Financial and Professional Regulation (IDFPR) reported Monday that recreational marijuana sales grew to an all-time high for the fifth month in row.
Canopy Growth Corporation will bring its THC-infused beverages to the U.S. in 2021 through a partnership with New York-based cannabis firm Acreage Holdings, the two companies announced Thursday. In a news release, Canopy and Acreage said the products are expected to debut at dispensaries in California and Illinois next summer, and that “sessionable” drinks would be the initial focus.
More VC money is flowing into the cannabis software space. California-based Trym, which sells management software to cannabis growers, has raised a combined $3.1 million in seed funding from friends, family and several venture funds.
Billionaire investor Nelson Peltz is no longer advising Canada’s Aurora Cannabis, the company announced Monday. In a news release, the Edmonton-based cannabis firm said Peltz had resigned to “pursue other commitments.”
Arizona-based cannabis firm 4Front Ventures, which has operations in five adult-use states, has completed the sale of three dispensaries in Maryland. In a news release, 4Front Ventures said the stores were dealt to Philadelphia-based Ethos Cannabis, another multi-state operator, for $5.5 million. The sale of the Maryland assets is part of a previously-announced $18 million transaction.
At long last, Vermont is on the verge of legalizing adult-use cannabis sales. On Tuesday, the Vermont Senate voted 23-6 in favor of legislation (S. 54) that would legalize, regulate and tax commercial cannabis sales.
Canopy Growth Corporation has inked another prominent endorsement deal for its Biosteel Sports Nutrition brand. Meanwhile, Cresco Labs is on the verge of opening its tenth dispensary in Illinois, while Harvest Health and Recreation has opened its 15th in Arizona. Curaleaf has also expanded availability of “Select” brand products to 3 more states.
Innovative Industrial Properties (IIP), a publicly traded real estate investment trust (REIT) focusing on the cannabis sector, has inked another sale-and-leaseback agreement with Surterra Wellness parent Parallel. Parallel, the second-largest medical marijuana company in Florida, has agreed to sell an indoor cultivation facility in Lakeland that is capable of being scaled to 220,000 sq. ft.
Cannabis sales in Colorado and Illinois reached record highs in July and August, data from both states reveals. According to the Colorado Department of Revenue, adult-use cannabis sales eclipsed $183 million in July and $954 million year-to-date.
A House vote on federal cannabis legalization has been put on hold, according to Politico. The Marijuana Opportunity Reinvestment and Expungement (MORE) Act, which would remove marijuana from the Controlled Substances Act, was originally scheduled to reach the House floor this month.
A new cannabis delivery service has launched in Massachusetts. Blackbird, a cannabis software company owned by TILT Holdings, has partnered with Commonwealth Alternative Care to give medical medical patients access to the dispensary’s products via an online marketplace.
Minneapolis-based Vireo Health International is rebranding four medical marijuana dispensaries in Minnesota to its existing chain of retail locations called Green Goods. The move, announced Tuesday, comes as the cannabis firm has changed the name of its subsidiary in Minnesota from Minnesota Medical Solutions (MinnMed) to Vireo Health of Minnesota.