Marijuana Business Daily

Marijuana operators aim to mitigate 4/20 online outages this year

Published

4 weeks ago

April 18, 2024

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As the marijuana industry gears up for the biggest sales day of the year, retailers, point-of-sale (POS) and e-commerce service providers are working to avert another online disaster.

Operators nationwide have installed a series of measures – bolstering infrastructure, employee training, stress tests and other support mechanisms – to capture every retail dollar on Saturday, April 20, the most celebrated day of the year for cannabis enthusiasts and retailers alike.

Last year, a cascade of failures between Dutchie POS systems and their retail customers’ e-commerce menus led to widespread outages affecting hundreds, if not thousands, of stores in the United States and Canada.

Cannabis retail workers told MJBizDaily the outages knocked out online menus, prevented adult-use consumers and medical marijuana patients from placing

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Scapegoat or solution? Ouster of top New York marijuana official raises questions

Published

1 day ago

May 14, 2024

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The exit of Chris Alexander, the top state official overseeing New York’s rollout of adult-use marijuana sales, is seen by many as assigning blame for what has been decried as the country’s worst cannabis market launch to date.

More than three years after New York legalized adult use, only 122 stores were open for business statewide, and the market’s $123 million in 2023 sales was only about one-quarter of projections.

But whether Alexander’s departure as executive director of the state Office of Cannabis Management (OCM) will mean a turnaround – or whether his replacement, to be assigned by Gov. Kathy Hochul upon completion of Alexander’s term in September, will be any better – is far from clear, industry observers told MJBizDaily on Monday.

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Tilt Holdings cannabis affiliate in Pennsylvania secures $10.5 million loan

Published

5 days ago

May 10, 2024

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Pennsylvania’s Standard Farms, a subsidiary of Arizona-based cannabis multistate operator Tilt Holdings, secured a $10.5 million loan.

The loan will fund Standard Farms’ plans to build and run medical marijuana dispensaries in Pennsylvania, according to a news release.

An unidentified “experienced retailer and operator” issued the secured promissory note, the release noted.

Standard Farms can borrow up to $10.5 million to build and operate up to three medical marijuana dispensaries.

The promissory note matures on Dec. 31, 2027, and the loan carries a 20% interest rate.

The interest increases to:

30% once Standard has opened its first dispensary and completed a sale. 40% six months after the first location opens.

No payments will be due before the maturity date, but

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Canada’s medical cannabis exports jump to CA$220 million as domestic sales fall

Published

1 week ago

May 6, 2024

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Canadian exports of medical cannabis hit an all-time high last year as the county’s licensed producers continue to diversify from the competitive local market in favor of pursuing top-line opportunities overseas.

In the 2023-24 fiscal year, Canada exported roughly 218 million Canadian dollars ($189 million) worth of medical marijuana products for commercial and scientific use, MJBizDaily has learned.

That’s an increase of more than 36% from the previous year’s exports of CA$160 million.

The data from regulator Health Canada paints a picture of brisk and consistent growth in the export sector.

In previous years, the revenue of cannabis exports reported by licensed producers was:

CA$8 million in 2019-20. CA$39 million in 2020-21. CA$107 million in 2021-22.

Health Canada said the 2023

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