Minnesota cannabis Archives - Green Market Report

StaffJanuary 19, 2023


The Daily Hit is a recap of the top financial news stories for January 19, 2023.

On the Site

Columbia Care Closes Unprofitable Dispensaries, Cuts Jobs

In an effort to cut costs and try to become profitable, Columbia Care Inc. (CSE: CCHW) (OTCQX: CCHWF) closed four unprofitable dispensaries and cut its headcount by 25%. Col-Care said it closed one dispensary in California and three in Colorado. In addition, the company consolidated cultivation operations in California, Colorado, and Pennsylvania to improve its adjusted EBITDA contribution. Read more here.

IIP Says Cannabis Tenants Not Paying Rent

Innovative Industrial Properties Inc. (NYSE: IIPR) said rent collections dropped to just 92% for the month ending Jan. 31. The company said it had collected 97% of its rent at the end of December. The cannabis real estate investment trust outed various cannabis companies that have slipped in their rent payments. Read more here.

Minnesota Legalization Bill a Good Start But Could be Improved

A new bill in the Minnesota Legislature to legalize adult-use cannabis features a few provisions that indicate state lawmakers are learning which policies work and which don’t when it comes to replacing underground marijuana markets with regulated ones. Read more here.

In Other News

TerrAscend Corp./Wana Brands

TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF), a North American cannabis operator, signed a multiyear agreement with edibles manufacturer Wana Brands to introduce Wana’s products at The Apothecarium retail stores and additional third-party retailers in New Jersey. The agreement will also transfer the manufacturing and sales of Wana’s existing portfolio of products in Maryland to TerrAscend. Read more here.

Relativity Acquisition Corp.

Relativity Acquisition Corp. (Nasdaq: RACY), a blank check company focused on targets in the legalized cannabis industry, received a determination letter from the Nasdaq Listing Qualifications staff that the company was not in compliance with the requirements of the Nasdaq Listing Rules or either of the alternative requirements for continued listing on The Nasdaq Global Market. Read more here.

Tier One Consulting

In a complaint filed Wednesday, Tier One Consulting, which is owned by DJCBP Corp., and David Ju said former city officials of both Baldwin Park and Compton in California conspired to illegally sell a cannabis license to Ju, and mishandled mitigation fees that he paid as part of the license deal. Read more here.

StaffJanuary 5, 2023


The Daily Hit is a recap of cannabis business news for Jan. 5, 2023.


Cannabis Legalization Bills Introduced in Minnesota, South Carolina

At least two more states this year will consider legalizing cannabis in some form. In Minnesota, Democratic lawmakers on Thursday introduced HF 100, which would legalize recreational cannabis. In South Carolina late last month, Republican lawmakers pre-filed two bills, both of which would legalize marijuana for medical uses. Read more here.

Colombia Leans Further Into Cannabis

The country of Colombia may have a reputation as the home for cocaine cartels, but it is leaning further into cannabis these days. According to government claims, the country has received $250 million in international funding in support of the cannabis sector. Read more here.

Pontiac, Michigan, May Finally Get Adult Use Cannabis

Pontiac City Council plans to finalize a city ordinance on Jan. 10 to allow adult-use recreational marijuana businesses to operate in Oakland County’s sixth-largest city. Voters approved a proposal in 2018 that called for 20 adult-use marijuana retailers with no license limits for grow operations, processors, or transportation firms. Read more here.

Untapped Southern Markets Face Uphill Battle

The South may be the last frontier for state cannabis legalization, but the region could be a boon for the industry once the floodgates open. A report from cannabis consulting firm Global Go posits that these four states could provide value for entrepreneurs sitting on the sidelines of Florida’s limited vertical model. Read more here.


Unrivaled Brands

Unrivaled Brands, Inc. (OTCQB: UNRV), a cannabis company with operations in California, enters into binding Letters of Intent with two Cookies-branded retail stores in that state: Cookies Redding and Cookies Oakland. Read more here.

The Parent Co.

TPCO Holding Corp. (NEO: GRAM.U) (OTCQX: GRAMF), a leading consumer-focused California cannabis company also known as The Parent Co., entered into modification agreements to restructure its relationship with Roc Nation LLC and SC Branding LLC.

As part of the arrangement, Shawn ‘JAY-Z’ Carter and affiliates and Roc Nation will return approximately 7.1 million common shares of The Parent Company, enabling TPCO to save roughly $33.5 million in top-line costs over eight years. Roc Nation and JAY-Z affiliates  are expected to remain substantial shareholders and to continue working with The Parent Company across innovation, brand strategy and social justice fair equity opportunities. Read more here.

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The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


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