Category Archives: Business

Marijuana REIT invests $17.5 million in sale-leaseback deal

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Innovative Industrial Properties (IIP), a real estate investment trust based in San Diego that specializes in sale-leaseback deals in the marijuana industry, spent $17.5 million to do such a transaction near its Southern California headquarters. IIP bought a 70,000-square-foot facility and quickly signed a long-term lease with Kings Garden, a cannabis company based in the Coachella Valley, about 150 […]

California cannabis regulators defer business license renewal fees

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California’s three licensing authorities will all begin immediately deferring business license renewal fees for marijuana companies as part of the state’s coronavirus response, the agencies said in a joint news release. The California Bureau of Cannabis Control and the departments of Food and Agriculture and Public Health said licensed marijuana businesses whose permits expire between May 14 and […]

California governor delays proposed cannabis regulatory changes

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The coronavirus has further derailed systemic reforms to the California regulatory agencies that oversee the state’s marijuana industry under a revised state budget plan. In the budget proposal released Thursday, Gov. Gavin Newsom said that his previously announced goals – merging the state’s three regulatory agencies and streamlining marijuana tax collections – would have to be put off […]

Marijuana firms aim to leverage ‘essential business’ status amid COVID-19 economic slide

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 declared essential during the coronavirus outbreak are hoping to leverage newly allowed flexibility such as curbside pickup and home delivery into permanent ways of doing business. They also believe this is an ideal opportunity to seek additional regulatory relief and other reforms to help fend off challenges related to the economic downturn resulting from COVID-19. The […]

California’s Indus secures $14.5 million for cannabis expansion

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Indus Holdings, a California-based vertically integrated marijuana company, said it secured up to $14.5 million in loan financing to complete a greenhouse and boost the company’s profitability path. Indus, which said it will close the deal in April, also will use the proceeds for renovations and as general working capital “to become profitable and self-sustaining.” Geronimo Capital […]

Marijuana businesses pivot quickly to meet demand for home deliveries amid coronavirus worries

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Cannabis companies that provide delivery services – including delivery operators and retailers – are seeing a deluge of orders as customers stock up on marijuana products in the wake of coronavirus pandemic concerns. At the same time, these companies are putting into place unprecedented measures to ensure their delivery drivers and customers stay healthy, ranging […]

Feds subpoena records from CA marijuana firm Weedmaps and others

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Prosecutors for a U.S. attorney’s office in California issued a grand jury subpoena for records related to 30 marijuana companies, including the parent of Weedmaps. Although the purpose of the investigation by the U.S. attorney for the Eastern District of California is unclear, according to MarketWatch, a subpoena was issued to Ghost Management Group, which owns California-based […]