Finance

The partnership comes months after the company raised $100 million in Series D financing. New-York based LeafLink, a major cannabis wholesale platform, is partnering with Leafgistics, a cannabis logistics company, to coordinate and streamline the storage and movement of cannabis products across the California market. The company said it has also invested an undisclosed sum in Leafgistics. The investment marks a notable step for LeafLink as it looks to harden its system for cannabis commerce, it said, and advance the industry through strategic partnerships. “Through our… Read more.

The AI-powered cannabis retail platform, Genetica successfully raised $500,000 in a seed funding round. The round was led by Ensemble, CEO of Talent Resources Ventures and Genetica adviser Michael Heller, Show Me Organics, executives from Hara Supply and Mitchell Harounian. This support will enable Genetica to expand its presence in dispensaries across the U.S. and venture into other retail sectors outside of cannabis, including grocery stores and pharmacies, per a press release. "With plans to launch its software in over 350 locations in the US and numerous… Read more.

GRN Holding Corporation, Inc. (OTC Pink: GRNF) has completed the purchase of Mendocino Green Inc, which includes a cultivation license, nursery license, and distribution license from one of the oldest cannabis license holders in California. With this acquisition complete, the company said it filed a supplemental report with OTC Markets to remove the shell status symbol from the OTC Markets webpage. Removing this designation will take the company one step closer to its previously announced plans for Corporate Restructuring according to… Read more.

The cannabis industry has been affected by disruptions in the banking industry and changes in funding sources. Valley National's recent $72 million loan to Truly “is of particular interest, as it represents a significant move out of the shadows for banks in the cannabis industry," Brennan Manna Diamond managing partner Stephen Lenn said at the recent Benzinga Cannabis Capital Conference. On his part, Tyler Beuerlein, Chief Strategic Business Development Officer at Safe Harbor Financial  SHFS-1.02%+ Free Alerts, noted that “larger financial institutions are entering the cannabis industry and this is a… Read more.

Chris Morris Thu, April 13, 2023 at 12:08 AM GMT+7·2 min read Jeenah Moon/Bloomberg via Getty Images As more and more states make medical and recreational cannabis legal, the drug’s retail sales numbers are hitting new heights. More from Fortune: 5 side hustles where you may earn over $20,000 per year—all while working from home Looking to make extra cash? This CD has a 5.15% APY right now Buying a house? Here's how much to save This is how much money you need to earn annually to comfortably… Read more.

The governor of New Mexico is marking the one-year anniversary of the state’s adult-use marijuana market, touting its more than $300 million in sales since last April as well as the thousands of jobs the cannabis industry has created. Gov. Michelle Lujan Grisham (D) said on Monday that sales have been steady throughout the past year, with March’s haul setting the monthly record at $32.3 million in recreational marijuana purchases. In addition to the $300.1 million year-end sales total for… Read more.

A joint law enforcement task force discovered approximately 9,000 pounds of cannabis with an estimated value of nearly $15 million in a suburban neighborhood in Antioch, Calif, just a few days before Christmas. The California Department of Cannabis Control suspected the four houses searched in the bedroom community located 45 minutes outside San Francisco had links to China. Illegal marijuana production in the United States has long been associated with Mexican cartels, who import, grow and distribute illicit cannabis. However,… Read more.

Given the general bearishness in the cannabis industry, Trulieve has something to offer to investors with high risk-appetites. After a rollercoaster ride over the last few years, the marijuana industry no longer seems enticing to investors. The lack of progress toward U.S. federal legalization, and lower retail and wholesale prices for the raw marijuana flower leading to lower corporate profitability, have pushed cannabis stock prices even lower. However, savvy investors recognize that every growing industry goes through hiccups and eventually settles… Read more.

Jupiter Research, a marijuana vape cartridge subsidiary of Phoenix-based Tilt Holdings, refinanced and extended its revolving credit facility. The amount of credit available to Jupiter increased from $10 million to $12.5 million, according to a Tuesday news release. The debt now matures July 21, 2024, instead of July 2023. The interest rate is the prime rate plus 3%. The funds are secured against Jupiter’s property, inventory and accounts receivable as well as through a $6 million guaranty from Tilt. Jupiter initially entered… Read more.

Nasdaq-traded marijuana company Bright Green Corp. is again attracting scrutiny and questions, this time for its audacious plan to raise $500 million through a federal investment program that targets immigrant investors. The company announced in a February news release it would use the money generated through the EB-5 Immigrant Investor Program to build out its “world-class production and drug manufacturing facilities” in the small New Mexico town of Grants. Florida-based Bright Green also plans to use the money to bankroll research and… Read more.

Wave of business failures is on the way if the debt bubble explodes. A slow but steady years-long trend of licensed marijuana companies in California not paying all of their bills might be nearing its climax, industry insiders warned, and a wave of business failures is on the way if the debt bubble explodes. The lack of overall profitability for several years running – along with myriad other financial challenges –  has led many businesses to shuffle payments around, delay payments to… Read more.