Cresco Labs secures up to $200M in debt for marijuana operations

Cresco Labs, a multistate cannabis operator based in Chicago, said it has secured up to $200 million in debt funding from a syndicate of lenders. The money is earmarked to: Expand operations in Illinois, where it’s based. Finance pending acquisitions Fund other growth initiatives. The company expects to draw down up to an initial $100 […]

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First cannabis consumption site in Illinois gets nod

Illinois’ capital city approved the first social consumption marijuana establishment in the state. Illinois Supply and Provisions plans to connect the consumption space to its recreational and medical marijuana store in downtown Springfield, the Chicago Tribune reported. The company, which got the OK from the Springfield City Council on Monday, is still working out details of […]

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Illinois adult-use cannabis stores might face more shortages

Recreational marijuana sales in Illinois could be hurt by a surge in medical cannabis applications with the Jan. 1 launch of adult-use sales. More than 2,570 people applied for medical marijuana cards Jan. 1-17, nearly a 34% jump from Dec. 1-17, the Chicago Tribune reported. Regulators earlier in January warned marijuana retailers they are required to […]

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Illinois social equity cannabis applicants laud licensing help from consultants, technology

Many marijuana industry watchers tout the social equity program in Illinois as one of the most far-reaching and likely to succeed in the U.S. cannabis industry. However, experts also note that for all the Illinois program’s positive intent, it is still a sometimes prohibitively expensive and burdensome undertaking for any social equity applicant. With associated expenses […]

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US lawmakers call for more marijuana research, some Cresco Lab employees in IL unionize, Trulieve addresses short sellers & more

U.S. lawmakers and experts tell a congressional panel that the federal government needs more cannabis research, some marijuana employees in Illinois vote to unionize, Trulieve refutes a short-seller report – and more of the week’s top MJ business news. What’s the role of expanded marijuana research in federal reform? With strong bipartisan support, lawmakers and […]

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Marijuana tech firm Fyllo buys Denver’s CannaRegs for $10 million

Chicago-based Fyllo, a digital marketing firm that focuses on the cannabis industry, on Friday said it has agreed to pay $10 million to acquire Denver-based CannaRegs. CannaRegs provides a web-subscription service and technology platform that offers access to state and municipal cannabis rules and regulations. In February, the company said it secured a $2 million […]

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