U.S. Marijuana Business News – Use to place on US homepage
Rhode Island officially became the 19th state in the U.S. to legalize adult-use marijuana when Democratic Gov. Dan McKee on Wednesday signed into law a bill passed by state lawmakers the day before.
Item 9 Labs Corp., an Arizona-based company that invests in marijuana-related businesses, signed an agreement to acquire Wild Card Cannabis, which includes Sessions Cannabis, one of the largest franchise MJ companies in Canada.
Nitin Khanna, a marijuana entrepreneur in Oregon, filed a nearly $625 million countersuit against an investor group that includes Curaleaf Holdings Executive Chair Boris Jordan over a failed CBD company.
In the first month of recreational cannabis sales, New Jersey retailers sold $24 million worth of adult-use products.
Oklahoma regulators are accusing a testing lab of reporting passing results for dozens of contaminated medical marijuana products, leading to a recall affecting 33 cultivation and processing businesses.
Unpaid federal excise duty is piling up in Canada’s cannabis industry, with excise debt more than tripling to 52.4 million Canadian dollars ($40 million) as of March 2022, up sharply from CA$16 million owed in March 2021, according to an MJBizDaily analysis of Canada Revenue Agency data.
Rhode Island is poised to become the 19th state in the U.S. to legalize recreational marijuana, after House and Senate legislators on Tuesday passed limited-license, social equity-focused legislation.
