New Brunswick’s Crown-owned cannabis retailer is recording a big financial loss in its first year in operation. As Callum Smith reports, new year-end results show Cannabis NB lost $11.7 million.
The chair of a key U.S. Senate committee declined Tuesday to commit to considering legislation that would provide federal protections to financial institutions serving state-legal cannabis businesses, which is dubbed the SAFE Banking Act. Sen. Mike Crapo, a Republican from Idaho, made the comments – as reported by Politico in a tweet – at a meeting of the Independent Community … Read More
Massachusetts regulators signed off on preliminary plans for recreational marijuana home delivery, but the program would limit participation in the first two years to applicants that fit under the state’s social equity and economic empowerment provisions. The Massachusetts Cannabis Control Commission voted 4-1 to give initial approval to the policy, which could begin later this year after regulations are adopted … Read More
Moosehead, the largest fully Canadian-owned brewery, is partnering with Sproutly Canada to make nonalcoholic, cannabis-infused beverages – marking the latest major brewery to make a splash in the marijuana sector. Moosehead and Sproutly entered into a definitive agreement to form a joint venture, with each holding 50% ownership. Sproutly CEO Keith Dolo told Marijuana Business Daily the respective financial contributions … Read More