MjLink Cannabis Business News and Press
The company achieved $29.2 million of operating cash flow and $25.4 million of free cash flow.
Industry stakeholders weigh in after FDA officials told reporters last month that the agency plans to review product regulations in the coming months.
CEO Charles King shares insight into the organization’s history, its commitment to the state’s adult-use cannabis market and its broader mission to support more equity-based entrepreneurs in the space.
Individuals 21 years and older in Connecticut can now possess up to 1.5 ounces of flower in public and purchase up to a quarter of cannabis flower, or its equivalent, per transaction.
On a recent earnings call, Irwin Simon directed some attention toward non-cannabis offerings in the U.S., Canada and Europe.
Merida Capital's Colin Kelley shares his take on what U.S. cannabis markets can expect this year, as well as themes to keep in mind while navigating this challenging time in the industry.
We're looking back on some of our favorite stories from the past year.
California, Colorado, Nevada, Oregon and Washington faced unprecedented cannabis retail trends in 2022; Michigan is now the nation’s second largest market.
Can you guess which sweet flavor profile is taking home the No. 1 spot this year?
The letter follows President Joe Biden’s October announcement that directed the Department of Health and Human Services and the Department of Justice to review how cannabis is scheduled.
The retail licenses were awarded Dec. 22 under Detroit’s revised adult-use cannabis ordinance.
A roundup of our most-read stories from the past year.
Laurie Parfitt, CEO of LKP Impact Consulting, dives into top cannabis trends that emerged this year and what opportunities they provide for businesses.
Severe weather events, such as drought, wildfires, heat waves and hurricanes have impacted cannabis production and motivated employee health and safety protocols.
A recent timeline of states that have legalized, those on the verge of legalization, and what’s ahead for the U.S. cannabis industry in 2023.
It wouldn’t be December if we didn’t have another tumultuous year in the cannabis industry to look back on. In that way, 2022 did not disappoint.
On Dec. 20, a 6.4-magnitude earthquake hit Humboldt County, Calif., part of the Emerald Triangle region that is arguably the heart of the U.S. cannabis industry, well-known for its legacy operators, ideal growing conditions and top-notch genetics.
It felt like yet another blow to California, which has struggled considerably in 2022, a year where the persistent challenges of competition from the illicit market, high taxes, price compression, compliance standards and local cannabis business opt-outs have pushed the world’s largest cannabis market to the brink.
“It’s just a recipe for disaster,” Jocelyn Sheltraw, who serves on the Board of Directors of the California Cannabis Industry Association, told Cannabis Business Times Senior Digital Editor Melissa Schiller in March. “It’s just created turmoil on the cultivation side.”
In July, California implemented a policy change growers had long pushed for—eliminating the weight-based cannabis cultivation tax, a rate that had been $10.08 per dry-weight ounce for flower and $3 per dry-weight ounce for leaves, bringing much relief to licensed growers.
Although removing the cultivation tax burden was perhaps the most impactful for cannabis growers, Gov. Gavin Newsom also signed 10 bills in September meant to offset other industry challenges, remove employer penalties for cannabis use and improve access for patients and consumers.
However, it remains to be seen how much these and other efforts will mitigate stagnant sales in the state, and when these changes will start to impact markets.
A region of California known for some of the world’s best cannabis continues to experience drought and high heat. Wildlife in parts of Oregon is, for now, less vibrant than it once was. And East Coast hurricanes are decimating crops in a pinch.
These are realities for cannabis and hemp growers growing outdoors in 2022. The few sources Cannabis Business Times spoke with for this story say weather catastrophes are becoming more frequent and severe than has been the norm for decades, and that climate change is the culprit for many of those shifts.
Humboldt County comprises part of a temperate rainforest that stretches from near Prince William Sound, Alaska, to south of California’s San Francisco Bay, according to Radford University.
RELATED: 6.4-Magnitude Earthquake Reported in Humboldt County, California
Lindsey Renner, owner of Native Humboldt Farms, says that when she grew up in Humboldt, it used to rain all fall and winter, often downpouring. That’s no longer the case.
“Almost every year for the past seven years, we have had these extreme heat waves during the summer, and those have been producing lightning storms that have been the cause of [wildfires] up here,” Renner says, adding that weather conditions are becoming more abnormal and are on track to become more extreme.
