Marijuana layoffs continue

Marijuana layoffs continue

Michigan temporarily bans sale of marijuana vape products

Michigan temporarily prohibited the sale of cannabis vaping products so they can be tested for the vitamin E acetate compound, which is linked to a nationwide vaping crisis that has led to 47 deaths and 2,290 lung illnesses. Regulators plan to inspect processing facilities twice a month to make sure they do not contain inactive ingredients that are not approved by the U.S. Food and Drug Administration for inhalation.

– Associated Press

For more of Marijuana Business Daily’s ongoing coverage of the vaping crisis, click here

Cannabis firm first in Massachusetts to unionize

Employees at Sira Naturals, one of the largest vertically integrated cannabis providers in Massachusetts, voted to join the United Food and Commercial Workers Union Local 1445. Sira Naturals, which earlier this year was acquired by a Canadian firm now called Ayr Strategies, is the first marijuana company in Massachusetts to unionize. Last month, Vireo Health employees unionized in Pennsylvania.

California marijuana grower Canndescent lays off 16

California-based Canndescent, a large commercial cannabis cultivator, laid off 16 people, which equates to 14.4% of the 111 employees the company listed on its LinkedIn site. The company also froze the hiring process for another six positions, Business Insider reported. The layoffs were the result of the “drying up of capital markets,” Canndescent CEO Adrian Sedlin told Business Insider.

Michigan recreational cannabis sales may be delayed a day

Adult-use cannabis sales in Michigan might begin Dec. 2, not Dec. 1, as initially scheduled. The potential delay is because Dec. 1 falls on a Sunday. “We should have looked and saw that Dec. 1 fell on a Sunday, so I don’t think it will happen on the first (of December), I think it will be on the second now,” Marijuana Regulatory Agency Director Andrew Brisbo said at an industry conference in the Detroit area, reported.

Cannabis company Harborside reports revenue increase

Marijuana retailer Harborside, based in Oakland, California, on Friday reported a 22.4% increase in its third-quarter revenue, to $14.1 million, from the same period in 2018. The net loss for the quarter ending Sept. 30 was $1.2 million, compared with a loss of $5.2 million in the same period a year ago.

A chart displaying quarterly earnings for major cannabis companies is available here.

Lottery to choose who gets Rhode Island medical cannabis licenses

Rhode Island’s medical marijuana regulators will award medical marijuana licenses for six new dispensaries through a random lottery, under proposed rules. The new rules also would not allow new operations to initially grow their own cannabis.

– Associated Press

Massachusetts adult-use marijuana sales top $1 million a day

The 33 marijuana retail stores in Massachusetts sold a total of $393.7 million in products in the first year of legal adult-use cannabis sales in the state, according to the Cannabis Control Commission. That equates to more than an average of more than $1 million in sales a day, the State House News Service reported.

Published at Fri, 22 Nov 2019 21:20:39 +0000

Comments are closed.