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Rhode Island: Courts Begin the Process of Erasing Marijuana Records

State Supreme Court Chief Justice Paul A. Suttell issued an executive order late last week directing Superior and District Court judges to begin reviewing and expunging the records of tens of thousands of Rhode Islanders with marijuana-related criminal convictions. Under the plan, all eligible convictions will be removed from public review and sealed by no... Continue Reading →

White House Defers To Congress On Marijuana Banking Reform

The White House says that Congress is leading the charge for marijuana banking reform—and the Biden administration does not currently have any plans to announce executive action on the issue. At a press briefing last week, White House Press Secretary Karine Jean-Pierre was asked whether President Joe Biden intends to administratively resolve the banking issue... Continue Reading →

A joint effort: Despite stumbles, NY can turn cannabis industry into a boon

A joint effort: Despite stumbles, NY can turn cannabis industry into a boon Image Cannabis News January 30, 2023 As far as setting an example goes, the Housing Works cannabis dispensary at 1 Astor Place does well for itself. The first legal shop to open with an adult-use recreational dispensary license is clean, well-managed, rigorous... Continue Reading →

California Officials Take Key Step Toward Interstate Marijuana Commerce, Requesting Legal Opinion On Federal Risk

California officials are seeking a formal opinion from the state attorney general’s office on whether allowing interstate marijuana commerce would put the state at “significant risk” of federal enforcement action. The request for guidance from the Department of Cannabis Control (DCC) is a key step that could eventually trigger a law that Gov. Gavin Newsom... Continue Reading →

Okay Cannabis Wants To Wake & Bake in Wheeling Illinois

This story was republished with permission from Crain’s Chicago Business and written by Ally Marotti.  The Chicago restaurant group behind West Town Bakery is teaming up with a new dispensary that’s opening in suburban Wheeling next month, and it’ll be part bakery and cafe, part marijuana shop. The store, called Okay Cannabis, will essentially have... Continue Reading →

Akerna Taps Out of the Cannabis Biz

Akerna Corp. (Nasdaq: KERN) said on Friday afternoon that it will merge with a bitcoin mining company and offload its software business to POSaBIT Systems Corporation (CSE: PBIT) (OTC: POSAF) for stock and cash, respectively. Akerna’s Wind Down Akerna will sell its MJ Freeway business units, including MJ Platform and Leaf Data System brands, and... Continue Reading →

Flora Growth Stock Pops On Revenue Forecast

Flora Growth Corp. (NASDAQ: FLGC) released its revenue guidance for the fiscal year 2023 as the company forecasted a range of $90 million to $105 million.  Flora said that its estimates reflect expected organic growth in the House of Brands division and expansion of the Commercial & Wholesale division capabilities. The stock was jumping 18% in early... Continue Reading →

Illinois Dispensary Deals Go Cold

This story was republished with permission from Crain’s Chicago and written by John Pletz. The acquisition of Chicago marijuana retailer Dispensary 33 went up in smoke amid a cash crunch caused by a steep decline in cannabis stocks and a sharp increase in interest rates. Miami-based Ayr Wellness (OTC: AYRWF) said on Jan. 27 it’s... Continue Reading →

Virginia Lawmakers Approve Bills On Marijuana Sales And 280E Tax Reform

Virginia lawmakers on Friday advanced bills to start adult-use marijuana sales and allow cannabis businesses to make certain tax deductions at the state level while they’re barred from doing so federally under the Internal Revenue Services (IRS) code known as 280E. The 280E bill passed the Senate unanimously in a 40-0 vote, carried by Sen... Continue Reading →

Innovative Industrial Properties Accused of Misleading Investors on Kings Garden

An investor group is suing Innovative Industrial Properties (IIP)  (NYSE: IIPR) for not doing proper due diligence in its Kings Garden investment. Investor Michael Mallozzi originally sued IIP in April 2022, when the Blue Orca Capital report came out. He was then joined by investors Alejandro Handal and Stephen Forrester. They are claiming IIP mislead... Continue Reading →

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