The Daily Hit is a recap of cannabis business news for Sept. 15, 2022.
ON THE SITE
Schwazze To Snap Up Two Colorado Lightshade Dispensaries
Schwazze (OTCQX: SHWZ) (NEO:SHWZ) has agreed to acquire Lightshade’s adult-use dispensaries in the Denver area: one in Aurora and the other in Denver’s Washington Park neighborhood. The acquisition continues the multistate operator’s aggressive expansion in Colorado and will bring the company’s total number of dispensaries in the state to 25 upon deal closing. Read more here.
Glass House Closes On Another Natural Healing Center Dispensary
Glass House Brands (OTCQX: GLASF) is a step closer to shoring up its M&A grabs. The company closed on its acquisition of the Natural Healing Center dispensary located in Morro Bay, California, after being granted local regulatory approvals. Consolidation of the financial results of the Morro Bay store into Glass House’s financials will be effective immediately, so Glass House will end the third quarter with seven retail dispensaries. Read more about Glass House’s expansion strategy here.
Green Market Report’s Cannabis Tech Awards Profile: Meadow, Best Retail Tech
Meadow’s complete suite of connected tools support smarter cannabis dispensary sales, as well as marketing, inventory and compliance management. With real-world feedback from high-volume retail partners since 2014, its software is optimized to help cannabis retailers sell more products, stay fully compliant with state and local regulations, keep staff and customers happy, and boost the bottom line. This is why Green Market Report honored Meadow at the first ever Green Market Report Tech Awards in San Francisco. Read more about Meadow’s innovative retail platform here.
IN OTHER NEWS
Report: More Than 100,000 Cannabis Jobs In Connecticut, New Jersey and New York by 2025
CannabizTeam, a cannabis-focused executive search and staffing firm, released its 1st Tri-State 2022 Cannabis Industry Salary Guide, a comprehensive report that provides insights into the rise and revenue potential of the tri-state market as it gains medical and recreational cannabis licenses. The report forecasts that the cannabis industry in Connecticut, New Jersey and New York will employ more than 100,000 people by 2025, but the industry will continue to rely heavily on temporary or on-demand staffers as they build out their infrastructure. Read more here.
Washington Department of Financial Institutions Approves Bankcard International Group’s PIN Debit Payment Services for Cannabis Dispensaries
Bankcard International Group (B.I.G.), a provider of cannabis merchant accounts for payment processing, announced that its services have been approved by the Washington State Department of Financial Institutions. Traditionally, cannabis businesses have had to use “workaround” solutions for electronic payments or accept cash only. B.I.G. provides the ability for cannabis retailers to accept PIN debit card payments just like traditional retail businesses. Read more here.