California Marijuana

In nearly every state, the trend is the same: As cannabis products are introduced to a newbie consumer market, flower sales start off strong before extracts and edibles slowly but surely start grabbing a bigger piece of the pie. That said, flower still reigns supreme in every state. Its market share may have decreased over time, but the amount of money consumers spend on flower has increased every year. Total flower sales in 2022 were just over $14 billion, according to Statista. That’s the good news. The bad news is a glut of flower on the West Coast (and in other mature markets like Colorado and Michigan) over the past few years has caused wholesale prices to plummet . In California, quality greenhouse and full-term sungrown pounds are selling for as little as $500. A few years ago, those same pounds fetched $1,000 to $1,500. In many markets, companies are able to sell $50 ounces and still make a reasonable margin, although they must sell more volume to make the figures pencil ou...

SUITLAND, Md. – The U.S. Census Bureau’s latest quarterly cannabis excise-tax revenue data from 2023’s second quarter showed a nearly 10-percent drop in total collections despite a strong comeback performance from the country’s largest state market. Total cannabis excise sales tax revenue reached $606 million in Q2 2023, down nearly 28 percent from its peak of $839 million in Q2 2022. Despite the overall national decline, California jumped 73 percent in quarterly tax revenue with $152 million collected from April, May, and June. Of the twenty states plus Washington D.C. tracked for the bureau’s experimental data report , twelve saw a quarterly increase in excise sales tax revenue in Q2. Looking at the nine states with a quarterly decline, only Massachusetts, New Mexico, and Rhode Island suffered double-digit drops at 33, 27, and 16 percent respectively. However, double-digit growth was seen by seven states with Mississippi and New York leading the way with increases of 331 and 119 p...

SUGARLOAF, Pa. —   Sugarloaf Organics, a hemp cultivation and extraction facility in northeastern Pa., has announced the official launch of Steel City Greats Ryan Shazier CBD brand product line. Partnering with former Steelers linebacker and NFL Pro Bowler Ryan Shazier, Sugarloaf introduced the product line to help consumers nationwide improve their quality of life by managing pain, anxiety, and sleeplessness. Shazier’s miraculous journey after undergoing spinal stabilization surgery two days after being injured while making a tackle during the Dec. 4, 2017, game at the Cincinnati Bengals is well-known among Steelers fans and, indeed, throughout the NFL community. What many may not know is that Shazier benefitted from the use of CBD products as he worked to regain his mobility following his injury. CBD is one of the components found in medical marijuana, along with THC, the psychoactive element in marijuana. Cannabidiol, or CBD has long been recognized as one of the most benefici...

TORONTO and GLIL YAM, Israel — IM Cannabis Corp. (CSE: IMCC) (NASDAQ: IMCC) (the “Company”, “IMCannabis”, or “IMC”), a leading medical cannabis company with operations in Israel and Germany, is pleased to announce that Uri Birenberg will join the company’s leadership team as Chief Financial Officer effective October 10, 2023.  This appointment strengthens IMC’s financial leadership and strategic direction for achieving sustainable profitability. “We’re delighted to welcome Uri as our new Chief Financial Officer at IMC. His impressive track record and extensive experience with large scale international organizations, as well as with startups, make him an outstanding candidate for this important role in our company,” said Oren Shuster, Chief Executive Officer of IMC. “Uri will play a critical role in helping us achieve our financial and strategic goals and further strengthen the partnership with our investors. With his clear focus on sustainable growth and passion for innovati...

Since the start of legalization, the cannabis industry has expanded exponentially, introducing previously unimagined jobs like “cannabis public-relations rep” and “cannafluencer” to the world. But none of these progressive pathways for the plant would exist without roots planted in a highly efficient grow room. That’s always where a cultivator’s budget should begin. Innovation continues to propel evolution. Updating outdated systems reduces errors, increases profit, and improves the quality and efficacy of the industry. In a grow room, that looks like less labor, longer-lasting and more potent product , and more time and money for entrepreneurs to come up with better ideas for their business. Although innovation delivers benefits to every link in the supply chain, it best serves the industry when it takes place where the seed is planted . After all, the plant is central to the industry’s very existence, and high-quantity and -quality product is irrefutably essential for continued pro...

EGG HARBOR TOWNSHIP, N.J. — Workers at a New Jersey cannabis cultivation site have voted to join United Food and Commercial Workers Local 152. Twelve cultivators at the Columbia Care facility in Vineland, N.J., supported union representation through a majority card check last month, leading to the certification of the results by the New Jersey State Board of Mediation on Oct. 6. This certification designated Local 152 as the workers’ union. The cultivators at the facility grow and process cannabis, overseeing its production and preparing it for sale to consumers. Local 152 will continue to meet with the workers to draft contract proposals and schedule bargaining dates with the company. The cultivators seek wage increases and improvements to their working environment, including training and expanded access to protective equipment.

Stroll down any of the placid, leafy avenues in Columbus, Ohio, and inevitably you’ll catch sight of an emblem of the state. Maybe it’s a flag on a porch, a bumper sticker, or an Ohio State University hat perched atop a smiling face. Residents’ immense pride in the Buckeye State is unwavering, undeniable, even unavoidable. Ohioans love Ohio things, so it’s fitting one of the most successful companies in the state’s fledgling cannabis industry is Buckeye Relief, a homegrown vertical operator with a ubiquitous brand and a pair of popular stores in Columbus and Cleveland . “There’s a feeling of being underdogs, particularly in Cleveland, that really stirs people’s pride here,” said Heather Rayburn, Buckeye Relief’s creative director. “That pride definitely translates to how Ohioans support local businesses.” Rayburn is a longtime Cleveland resident and the wife of Andrew Rayburn, one of Buckeye Relief’s co-founders and a storied Midwest entrepreneur. Heather Rayburn’s background as an...