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Delaware Rep. Ed Osienski has filed a new adult-use legalization bill with changes that he believes will increase its chances of passing, according to a Delaware Public Media report.

The Delaware House Health and Human Development Committee approved Osienski’s adult-use legalization proposal last year, but the bill ultimately stalled after debate over a social equity fund included in the legislation.

RELATED: Delaware Lawmaker Will Reintroduce Cannabis Legalization Bill in January

This year’s proposal, House Bill 35, does not include the fund, which would have helped social equity applicants establish businesses in the cannabis industry, according to Delaware Public Media.

In its place, Osienski has proposed that a portion of the tax revenue generated from legal cannabis sales support the Justice Reinvestment Fund, which aims to address the effects of the war on drugs on many of Delaware’s communities, the news outlet reported.

The Arkansas Medical Marijuana Commission moved to tweak the number of medical cannabis dispensaries allowed in each of the state’s eight designated zones Jan. 13, paving the way for regulators to grant the last of the state’s 40 retail licenses.

The last two dispensary licenses will go to Green Remedies Group, which will locate in Garland County, and T&C Management, which will operate in Texarkana, according to an Arkansas Business report.

The 2016 voter-approved constitutional amendment that legalized medical cannabis in Arkansas allowed the state to license a maximum of 40 dispensaries, the news outlet reported, and the Medical Marijuana Commission has since licensed 38 retailers in eight designated zones across the state.

Six of the eight zones have five dispensaries each, but Zone 6, which includes Garland County, and Zone 8 in Southwest Arkansas, only have four retailers each, Arkansas Business reported.

Medical Marijuana Commission Chairman James Miller proposed last week that regulators should add an additional dispensary in each of those two zones, according to the news outlet, and the rule change allowed the commission to consider dispensary applications received in 2017, which were rejected when retail licenses were initially issued.

TALLAHASSEE, Fla., Jan. 18, 2022 – PRESS RELEASE – Trulieve Cannabis Corp., a leading and top-performing cannabis company in the U.S., announced an expanded partnership with Connected Cannabis Co., a premier cannabis cultivator. Through this agreement, Trulieve will be the exclusive producer, processor and retailer of Connected branded products throughout Florida.

Connected branded products will be available later this year exclusively at Trulieve's 111 Florida dispensaries. Trulieve already partners with Connected in Arizona.

"Trulieve is excited about expanding our partnership with Connected as we continue seeking ways to benefit our patients," Trulieve CEO Kim Rivers said. "Connected maintains a portfolio of proprietary top-shelf strains that our customers and patients desire in other markets, and we anticipate a similar response in Florida."

Connected has been building a proprietary genetics portfolio of premium strains and meticulously cultivating cannabis at scale since 2009. With more than a decade of industry experience, Connected is known as a leading brand in the cannabis space and a pioneer in the industry.

"We're proud to expand our successful partnership with Trulieve to bring our award-winning Connected and Alien Labs products to the East Coast," Connected co-founder Caleb Counts said.

Sam Ghods, CEO of Connected, added, "We value their leadership as the top operator in the state and share their commitment to providing customers with the best products possible."

CHICAGO, Jan. 18, 2022 – PRESS RELEASE – Cresco Labs, a vertically integrated multistate operator and the No. 1 U.S. wholesaler of branded cannabis products, is expanding its Sunnyside brand in Pennsylvania with a new store located at 28 W. Skippack Pike in Ambler. This location becomes the company’s 10th store in Pennsylvania and 47th dispensary nationwide.

“We are thrilled to be opening our 10th store in Pennsylvania, a continuation of our strategy of going deeper in our footprint and tailoring to individual state dynamics,” Cresco Labs CEO and co-founder Charlie Bachtell said. “With our CPG and wholesale focus, we’ve been able to take the top market share in Pennsylvania according to Headset. Adding additional fully owned retail will support our brand building and provide more access to Cresco Labs’ amazing products for patients across Pennsylvania.”

Located in the borough of Ambler, north of Philadelphia, the dispensary is a few miles away from the Pennsylvania Turnpike, a superhighway transporting thousands of people daily east-west across the state. Sunnyside Ambler resides in an area home to large facilities operated by major pharmaceutical companies, including Johnson & Johnson, Merck and Janssen.

The dispensary will be open 9 a.m.-6 p.m. Monday through Thursday, and 9 a.m.-7 p.m. Friday and Saturday. Patients can place online orders, browsing live inventory, on www.Sunnyside.shop and pick up orders in-store the same day. Store phone is 267-405-2622.

For more information about Sunnyside, visit www.sunnyside.shop.

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In December, the team at Cresco Labs’ Social Equity and Educational Development (SEED) initiative gathered at the site of a formerly licensed dispensary in Chicago, near Wrigley Field. While the company had moved its neighborhood retail location up the street to a new 10,000-sq.-ft. space, the old spot was still on the books. A plan emerged.

The idea, unveiled on that December morning, was to open the Illinois Cannabis Education Center—to use the brick-and-mortar dispensary bones as a way of reeling in and training people who are interested in contributing to the industry.

Chima Enyia, executive vice president of SEED, points to the four pillars of this Cresco Labs initiative: education, entrepreneurship, workforce development and restorative justice. All four will form the support structure for the new platform.

“When we talk about, the Cannabis Education Center, we're not the first or the last to dive into social equity work,” he says. “There are plenty of community organizations who have been doing this work, who have been doing a phenomenal job at fighting this fight, and we really just wanted to lend our support in the effort in the ways that we can. We moved a dispensary from one location to another, and instead of getting rid of that dispensary facility, we decided to transition that into a full scale cannabis education center. Essentially, we have everything in it but the cannabis. Right now, the average person in Illinois can't walk into a dispensary and walk in behind the desk or behind the counter or go into the vault and see how those things operate.”

Once the Illinois Cannabis Education Center, that’s what the space will become: an immersive industry training ground. Students and community members interested in getting into the business will have a place to work out their training and technique behind the counter. Everything from customer engagement to inventory tracking (via BioTrack software) is on the table.

RELATED: Beyond the Show: Chima Enyia

NEW YORK, Jan. 18, 2022 – PRESS RELEASE – Surfside Solutions Inc., an end-to-end marketing technology that aggregates first-party data across all customer touchpoints, announced the launch of real-time ecommerce measurement to the Surfside Attribution Platform, a self-service measurement tool that allows dispensaries, brands and delivery companies the ability to visualize online sales that are directly attributed to their digital and traditional media campaigns. 

The addition of ecommerce measurement to Surfside's Attribution Platform allows customers to visualize campaign metrics, store visitation and ecommerce sales in one single view. Real-time ecommerce attribution combined with retail foot traffic measurement provides advertisers with a complete picture of the path to purchase, offering transparency and insight to aid in better media optimization decisions.

"Our biggest goal at Surfside is to turn first-party data into an asset for media performance and sales for our advertisers," Surfside co-founder Michael Blanche said. "By clearly visualizing exactly which channels, ad creative and audiences are driving the strongest return on ad spend, real-time ecommerce attribution allows our clients to use their own sales data to improve the performance of their marketing initiatives." 

With the addition of real-time ecommerce attribution, users can:

Change attribution windows to measure ad performance. Adjust attribution windows from one hour to 30 days and anywhere in between to truly understand ad performance through multitouch attribution. Optimize campaigns as they happen. Integrating the measurement platform to the Surfside DSP (advertising platform) allows campaign optimizations based on ecommerce events, like completed checkout, or abandoned carts to bring back relevant consumers. See the customer journey at scale. Easily calculate overall lifetime value by seeing how and when customers begin the journey, how long it takes them to make a purchase, and how ads impact the buying cycle. Measure omnichannel media across multiple platforms. Surfside's attribution platform can measure media across any third-party platform, tying advertisements from desktop, mobile, tablet, OOH, TV and more to ecommerce and store visitation results in one dashboard.

As customer journeys get more complex and attribution gets more crucial than ever, Surfside continues to build best-in-class reporting to give advertisers the control they need to understand ad performance alongside overall business metrics. By offering a truly real-time view of ecommerce sales and return on ad spend in a single dashboard, real-time ecommerce attribution makes advertising with Surfside as transparent as possible.

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Republican Tennessee lawmaker Chris Hurt introduced legislation Jan. 11 that would regulate and tax cannabis products, including delta-8, in the state.

The measure, House Bill 1690, would regulate psychoactive hemp-derived cannabinoids, accounting for products that contain more than 0.1% total THC (or total amount of delta-9 THC, the primary psychoactive compound found in cannabis, in products). According to the bill text, this includes, but is not limited to:

Delta-8 THC; Delta-10 THC;Hexahydrocannabinol (HHC);Tetrahydrocannabiphorol (THCp); Tetrahydrocannabinol acetate ester (THCo); and Tetrahydrocannabivarin (THCv)

Essentially, “H.B. 1690 would do three things: create a licensing requirement for retailers and wholesalers, establish a 6.6% excise tax on the wholesale of hemp-derived cannabinoids and limit [the] sale of psychotropic hemp-derived products like delta-8 to those 21 and older,” according to the Nashville Post.

Hurt and Joe Kirkpatrick of the Tennessee Growers Coalition (TGC) collaborated to write the bill.

The measure would require wholesalers and retailers who sell such products to apply for an annual license through the state’s department of agriculture (TDA), which would cost $200. Based on the outline of the licensing structure, Kirkpatrick said he would expect to gather roughly $160,000 a year in fees, the Post reports.

Kirkpatrick also estimated that the 6.6% tax excise could generate $4-5 million in annual revenue for the state. According to the Post, Hurt and Kirkpatrick would like to see the money collected from fees and wholesale tax be used to help the TDA ensure product safety. 

On Dec. 2, 2021, Kansas Attorney General Derek Schmidt released an opinion declaring delta-8 THC is illegal to possess or sell in Kansas under specific circumstances.

The opinion reads: “Delta-8 tetrahydrocannabinol (Delta-8 THC) comes within the definition of a Schedule I controlled substance and is unlawful to possess or sell in Kansas unless it is made from industrial hemp and is contained in a lawful hemp product having no more than 0.3% total tetrahydrocannabinols (THC). Unlawful hemp products include cigarettes, cigars, teas, and substances for use in vaping devices. Delta-8 THC derived from any source other than industrial hemp is a Schedule I controlled substance and unlawful to possess or sell in Kansas. Other federal and state laws and regulations place additional limits on the legality of products containing THC and other cannabinoids.”

Schmidt’s opinion on delta-8 has already started to play out in one city in Kansas, Hays, where law enforcement could begin taking products that fit Schmidt’s description off shelves or ask shop owners to voluntarily turn in their products, according to a Butler County Times-Gazette article.

The article states that Hays Deputy Police Chief Brian Dawson “made clear” that law enforcement may arrest anyone they discover possessing illegal delta-8 products.

And Robert Anderson, an attorney from Ellis County (where Hays is located), reportedly wrote to local shops that sell delta-8 on Dec. 29, 2021, asking them to turn in all illegal delta-8 products to law enforcement. He also noted that those who do so would not risk Schedule 1 possession charges, according to the news outlet.

According to the news outlet, Anderson said the situation is “a mess” in an interview with Kansas News Service.

After Mississippi Gov. Tate Reeves played games with calling a special session last fall, the state Senate did not pussyfoot on passing medical cannabis legislation this week.

Making quick work on approving the Mississippi Medical Cannabis Act in committee, the upper chamber took up the legislation, Senate Bill 2095, on the Senate floor Jan. 13 and ultimately sent a stern message to the House and governor via a 46-5 vote for passage. The approval came just two days after the legislation was officially introduced for this session.

The bill, which Sen. Kevin Blackwell has been working to craft since early 2021, would allow registered patients in the state to access up to 3.5 grams of medical cannabis flower, 1 gram of concentrate or 100 milligrams of THC in an infused product per day—or roughly 3.7 ounces of flower per month.

The proposed possession limit created rift between the Legislature and Reeves, who requested reducing the limit by half before he’d call a special session last fall. But that was just one of several requests the governor made, Blackwell told Cannabis Business Times last week. Reeves originally made nine requests, seven of which the Legislature accommodated, but then he kept coming back with more, and more, demands, Blackwell said.

Blackwell and Rep. Lee Yancey—both Republicans—did not budge on the possession limit for the compromise bill they agreed upon last fall, and Reeves never called the special session. The legislative effort by Blackwell and Yancey was intended to accomplish the goals of November 2020’s voter-approved Initiative 65, which the state’s Supreme Court struck down on a signature-gathering technicality in May 2021.

RELATED: Mississippi Supreme Court Overturns Voter-Approved Ballot Initiative for Medical Cannabis

When Garret Schwartz, co-founder and CEO of recycling solutions provider Resinate, saw a documentary about plastic waste and its impact on the ocean, he started asking questions about the current state of recycling in his home state of Arizona, as well as in the broader United States.

“I didn’t realize how much plastic was just not getting recycled, how much was going into the environment,” he told Cannabis Business Times. “I started asking about why and just wondering, what is happening in Arizona and in the U.S. that is contributing to the dysfunction? … What is a valuable resource that is not being recycled that could be recycled that we could focus on? Where is a problem worth solving within this dysfunction?”

RELATED: How Ocean Cannabis Company is Cleaning the Ocean, One Vape Cartridge at a Time

Schwartz and his business partner, co-founder and Chief Operating Officer Brandon Schwartz, started educating themselves on how recycling works and how plastic moves from a business or a household into a sorting facility, and then to a plastic processor or manufacturer. They wanted to find a way to acquire and process some of the material into something new.

“There’s a lot of opportunity for a better system to exist,” Schwartz said. “That’s what we’d like to focus on. The future of that can be built with help from businesses.”


Prospiant | prospiant.com
Delta Ethanol Extraction CUP-5

CINCINNATI, Jan. 13, 2022 – PRESS RELEASE – Prospiant, the agtech business unit of Gibraltar Industries Inc., announced the launch of its most universal innovation to date, the Delta Ethanol Extraction CUP-5. The Delta CUP-5 is designed to address the specific needs of small-scale cannabis processing facilities, prototype labs and education research labs. It combines closed-loop cold alcohol extraction technology with mechanical centrifugation, ensuring a high-purity end product.

The Delta CUP-5 is the first extraction unit in the industry that meets the needs of smaller cannabis processors. It manages plant material (depending on mill size) in batches as small as 3.5 pounds and can complete the extraction process in two to 12 minutes. In addition, it is easy to clean and simple to use. The operation of the unit is similar to running a washing machine.

Prospiant is an industry leader in ethanol-based extraction equipment. In 2019, the company offered the first systems that met the UL certification to ANSI/CAN/UL/ULC 1389 for use in the U.S. and Canada and in 2020 was awarded a patent for the Delta CUP platform. Now, the Delta CUP-5 becomes a standout in the CUP series with its easy-to-use design and unique features.

Delta CUP-5 innovations include:

It does not have a hazardous location (HazLoc) requirement or require a C1D2 environment, unlike other extraction systems. The 220-volt, single-phase, low-power CUP-5 runs on a minimal 1.5 horsepower. It can run on power almost anywhere.It uses proven ethanol technology, requiring only 5 gallons per run.It is a small but highly powerful extraction unit.

“The Delta CUP-5 is a solution for small processors looking to add ethanol to their extraction portfolio and for businesses increasing ethanol production through an existing Prospiant Delta CUP series system,” said Mark Dunson, group president of Prospiant. “The system is uniquely designed for ease of operation and flexibility in scale, avoiding the need for a special facility. With the touch of a button, the automated program menu of the Delta CUP-5 runs the single-phase cycle to the user’s specifications.”

Columbus, OH – PRESS RELEASE – The Coalition to Regulate Marijuana Like Alcohol submitted 29,918 additional signatures in support of an initiated statute legalizing the adult use of marijuana to the Ohio Secretary of State’s office today.

After submitting 206,943 signatures on Dec. 20, 2021, the Coalition was notified that it needed to collect approximately 13,000 additional signatures to qualify the initiated statute proposal. The Coalition mobilized quickly and easily collected more than twice that number.

“We feel confident that we will meet the signature requirements and look forward to the legislature taking up an issue that a majority of Ohioans support this year,” said spokesman Tom Haren. “We encourage the public to visit our website, www.JustLikeAlcohol.com, to learn more about the proposed statute.”

Once local Boards of Elections validate at least 13,062 signatures, and the Secretary of State Certifies them, the statute will be presented to the Ohio General Assembly. The legislature will then have four months to consider the legislation. Should legislators opt not to pass the bill as-is, the Coalition to Regulate Marijuana Like Alcohol can collect an additional 132,877 signatures to present the issue to Ohio voters on the Nov. 8th, 2022 ballot.

California has been dubbed the largest adult-use cannabis market in the world, but those playing by the rules continue to forge ahead while remaining handcuffed by the state’s tax structure and retail shortage.  

Despite being on pace to record its highest yearly sales mark—with adult-use cannabis retail tallying $3.9 billion in taxable sales through the first three quarters of 2021—California’s reality on the ground is that the illicit market still outperforms the legal one because of a price gap caused by oppressive tax burdens and multilayered bureaucracy as barriers to entry. 

Last year, the Legislative Analyst’s Office—a nonpartisan fiscal and policy research institute for California’s Legislature—estimated that adult-use cannabis businesses operate in less than one-third of jurisdictions statewide.

But that could all change under Gov. Gavin Newsom’s budget proposal released Jan. 10—pending what’s in the details. Nevertheless, Newsom signaled he’s ready to reform the cannabis program’s tax structure and retail shortage.  

“The administration intends to further develop a grant program this spring that will aid local governments in, at a minimum, opening up legal retail access to consumers,” Newsom wrote in his 400-page budget summary. “Further, the administration supports cannabis tax reform and plans to work with the Legislature to make modifications to California’s cannabis tax policy to help stabilize the market; better support California’s small, licensed operators; and strengthen compliance with state law.”

While many California cannabis businesses, especially small farms, have faced an uphill battle since 2016’s voter-approved Proposition 64 was enacted—and the subsequent adult-use sales launch in January 2018—many of their struggles originate from hand-tying policies that predate Newsom’s governorship. His term began in January 2019.


What are some best practices for cannabis businesses looking to make the switch from medical to adult-use sales in newly legal markets?

For multistate cannabis operator Jushi Holdings Inc., it all comes down to navigating each state’s political climate and retail trends while maintaining control of the supply chain through vertical integration and implementing an omnichannel approach to reach patients and consumers.

With more than two dozen medical and adult-use dispensaries nationwide, Jushi is currently evaluating opportunities to transition from medical to adult-use sales—or strengthen its adult-use presence—in several of its markets.

“There are so many different variables that you can leverage the playbook, but you also have to have a different strategy in each market,” Trent Woloveck, Jushi’s chief commercial director, tells Cannabis Business Times.

In Virginia, for example, Jushi opened its first medical cannabis dispensary in December 2020, and has seen patient growth over the past year with the passage of a medical cleanup bill during the last legislative session and the legalization of flower in the state’s medical cannabis program.

MIAMI, Jan. 13, 2022 (GLOBE NEWSWIRE) -- PRESS RELEASE -- Ayr Wellness, a vertically integrated U.S. multistate cannabis operator (MSO), has announced the opening of its newest dispensary in Pinellas Park Fla., its 44th in the state.

“We are thrilled with our progress to date in Florida, a market where we see tremendous upside and growth potential. With 44 stores now open, at least 21 additional stores expected in prime locations in 2022, and significant improvements to our cultivation and production operations driving increased quality and volume, Florida promises to be a significant driver to growth and shareholder value in quarters and years to come,” said Jon Sandelman, founder, chairman and CEO of Ayr Wellness.

The new dispensary will occupy over 2,700 square feet of prime retail space on one of the most heavily traveled routes in Pinellas County, population over 900,000, according to the U.S. Census Bureau. The store will have six points of sale and feature Ayr’s leading portfolio of premium offerings including Origyn Extracts, Secret Orchard Sun Gems and fruit-forward vapes, Big Pete’s Cookies, and a selection of high-quality flower, including whole flower and pre-rolls.

In February 2021, Ayr purchased Florida-based Liberty Health Sciences, which included 31 dispensaries across the state. Since then, the company has opened 13 additional locations–bringing the current total to 44 stores.

Earlier this year, Ayr relocated its U.S. headquarters from New York City to Miami, underscoring the company’s commitment to the region. With ~658,000 enrolled patients, Florida’s cannabis market ranks third in the nation by total cannabis sales, per BDSA, and generated over $1.23 billion in medical cannabis revenue in 2020. BDSA forecasts Florida’s cannabis market will rake in $2.6 billion by 2026.

The Mississippi Senate Public Health Committee approved a medical cannabis legalization proposal Jan. 12, sending it to the full Senate for consideration.

Senate Bill 2095 would allow registered patients in the state to access up to 3.5 grams of medical cannabis per day, according to an AP News report.

Mississippi voters approved Initiative 65 in the November 2020 election to legalize medical cannabis in the state, but in May 2021, the Mississippi Supreme Court overturned the measure, ruling it unconstitutional due to an outdated signature-gathering technicality.

RELATED: A Portrait of One of Medical Cannabis’s Last Holdouts

Since the Supreme Court’s decision, state lawmakers have been working to restore the will of their constituents through medical cannabis legislation, which has largely been supported by Sen. Kevin Blackwell and Rep. Lee Yancey.

Texas’ gubernatorial candidates revealed their stances on cannabis policy reform on the campaign trail this week, with Republican Gov. Greg Abbott and Democratic front-runner Beto O’Rourke both signaling their support for decriminalization.

At a campaign stop in Edinburg, Abbott said decriminalization policies would help keep the state’s prison system from becoming overwhelmed with low-level cannabis offenders, according to a 25 News report.

“Prison and jail is a place for dangerous criminals who may harm others and small possession of marijuana is not the type of violation that we want to stockpile jails with,” Abbott said.

Meanwhile, O’Rourke has been an “outspoken supporter” of decriminalization, 25 News reported, and in a statement to the news outlet, he echoed Abbott’s desire to keep low-level cannabis offenders out of Texas’ prisons.

“Legalizing marijuana is the right thing to do,” he said. “We can stop locking Texans up for a substance that’s legal in much of the rest of the country and allow police to focus on violent crime.”

LAS VEGAS (Jan. 12, 2022) – Cannabis Conference, the cannabis industry’s leading conference for cultivators, retailers, and extraction professionals, will return to the Paris Las Vegas Hotel & Casino from Aug. 23-25, 2022.

Presented by award-winning media brands Cannabis Business Times and Hemp Grower, Cannabis Conference will bring together 3,000-plus current and prospective cannabis business operators, university professors, consultants, technology and solutions providers, and more for three dynamic days of education and expo.

“Now in its sixth year, Cannabis Conference has become known for offering the highest level of targeted exhibitors, quality education programming, and valuable networking opportunities to help cannabis professionals discover new partners and solutions,” Group Publisher Jim Gilbride said. “We’re looking forward to returning to Paris Las Vegas in 2022, which is sure to be another challenging, dynamic and exciting year for the global cannabis industry.”

Cannabis Conference’s education program will address the most pressing issues plant-touching businesses face, as well offer tangible solutions operators can implement into their own businesses. Sessions are being crafted with the assistance of Cannabis Conference Advisory Board members from some of the most successful and innovative operations in the space, including:

Erin Alexander – General Counsel, Cresco Labs Salpy Boyajian – Executive Vice President/Board Chairman, Flower OneSjoerd Broeks – Genetic Development/R&D Director, THE PHARMDebby Goldsberry – Writer and Business Adviser, Green Rush Consulting; Consultant, Arcview GroupMario Guzman – Founder, Sherbinskis David Holmes – Owner & CEO, Clade9Nick Jack – Chief Retail Officer, Diego Pellicer-ColoradoAmber Littlejohn – Executive Director, Minority Cannabis Business AssociationColin Kelley – Operating Partner, Merida Capital; Board Member, LeafLine Labs Emily Kowalski – Vice President of Cultivation, LeafLine LabsClaudio Miranda – Co-Founder, Guild EnterprisesKenneth Morrow – Owner, Trichome TechnologiesLaurie Parfitt – Principal, LKP Consulting Angela Pih – Award-Winning Marketer and Brand Accelerator  Guy Rocourt – Co-Founder and Chief Product Officer, Papa & Barkley Anna Shreeve – President, Urban Paragon Inc., Targeted Intent Inc., and The BakerééMason Walker – Co-Owner/CEO, East Fork CultivarsTalley Wettlaufer – Vice President of Retail, CuraleafHope Wiseman – Owner, Mary & Main Dispensary

Full bios of Cannabis Conference 2022 Advisory Board members can be found at https://www.cannabisconference.com/page/cannabisboard/.

“Partnering with these industry trailblazers allows us to present the most relevant educational sessions for those looking to enter or continue to navigate the cannabis industry today,” Editorial Director Noelle Skodzinski said. “We’re looking forward to diving even deeper into cultivation, retail, extraction, finance, regulatory, and marketing content, in order to offer takeaways that directly address the challenges and opportunities of the moment.”

LOS ANGELES, Jan. 12, 2022 /PRNewswire/ -- PRESS RELEASE -- Viola, a Black-owned multinational cannabis brand, rooted in building equity within the space, announced the closing of a $13 million equity funding round.  DelMorgan & Co., an internationally recognized investment banking firm headquartered in Santa Monica, Calif., acted as an exclusive strategic transaction advisor to Viola in connection with the transaction.

This latest round of funding allows Viola to expand into several key new markets, including Pennsylvania, Illinois, New Jersey, and Maryland, and continue executing on strategic marketing initiatives, further positioning Viola to be one of the top brands and operators in the rapidly growing cannabis industry.

"We're looking forward to a big 2022. The team at DelMorgan has always supported our vision and continues to be great partners for us as we bring Viola to new markets," said Al Harrington, co-founder and CEO of Viola.

Rob Delgado, chairman of DelMorgan, commented, "Al Harrington has proven himself to be a visionary in the Cannabis industry, demonstrating an ability to execute on initiatives that resonate deeply with today's popular culture and consumers."

Neil Morganbesser, president and CEO of DelMorgan, noted, "This investment is transformative, allowing Viola to significantly accelerate its expansion nationwide as one of the most iconic brands in cannabis."

DENVER, Colo. - January 11, 2021 - PRESS RELEASE - The Colorado Department of Revenue (CDOR) released November 2021 monthly marijuana sales figures and December 2021 marijuana tax and fee revenue figures, and reports a new record for marijuana tax and fee revenue in a single year. In 2021, Colorado collected over $423 million in revenue from marijuana sales (compared to the previous record of over $387 million in 2020). Additionally, Colorado also surpassed $2 billion in tax and fee revenue and $12 billion in marijuana sales to date since retail marijuana sales began in 2014. Here is the summary:

 

Date Marijuana Tax and Fee Revenue
December 2021 $30,609,563
January - December 2021 Calendar Year Total $423,486,053
To Date Total (since February 2014) $2,018,933,005

 

Date Marijuana Sales*
November* 2021 $158,462,549
January - November 2021 Calendar Year Total $2,060,952,959 
To Date Total (since January 2014) $12,039,747,032

 

*Please note: final 2021 marijuana sales figures will be released in February 2022.

The Marijuana Sales Reports summarize total sales made by medical and retail marijuana stores monthly by county. The Marijuana Tax Reports show state tax and fee revenue collected monthly as posted in the Colorado state accounting system. Tax revenue comes from the state sales tax (2.9%) on marijuana sold in stores, the state retail marijuana sales tax (15%) on retail marijuana sold in stores, and the state retail marijuana excise tax (15%) on wholesale sales/transfers of retail marijuana. Fee revenue comes from marijuana license and application fees.