Marijuana Business Daily

Marijuana financier Safe Harbor resolves $64.7 million debt

Published

2 years ago

March 30, 2023

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Colorado-based marijuana finance company SHF Holdings, which does business as Safe Harbor Financial, agreed to settle its $64.7 million debt with Partner Colorado Credit Union.

Under the agreement, SHF Holdings will resolve the debt in exchange for a five-year, $14.5 million senior secured note with a 4.25% interest rate as well as 11.2 million Class A common stock shares of the company.

Partner Colorado Credit Union (PCCU) was Safe Harbor’s parent company before Safe Harbor went public on the Nasdaq through a special purpose acquisition company last fall.

Safe Harbor owed PCCU the funds as part of that deal.

“A testament to the strong business we have built, we believe this Agreement reflects our strategic partner’s confidence in our ability to execute our long-term growth plans and build shareholder value,” Safe Harbor CEO Sundie Seefried said in a statement.

“Importantly,

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Marijuana company involved in Missouri’s huge recall loses final license appeal

Published

3 days ago

February 21, 2025

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Missouri marijuana processor Delta Extraction has lost its final appeal, resulting in the termination of its business license after its role in a massive 2023 product recall.

According to the Missouri Independent, the state’s Administrative Hearing Commission this week upheld an earlier decision by state regulators who suspended Delta Extraction’s marijuana business license in August 2023, accusing the company of sourcing materials from an unlicensed facility.

The commission essentially agreed with the Division of Cannabis Regulation (DCR) that Delta Extraction violated Missouri law by infusing products with THCA sourced from outside the state.

In a 137-page ruling issued Tuesday, the Administrative Hearing Commission said the company had a “corporate culture of lax compliance with regulatory requirements,” the Independent reported.

An attorney representing

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Could 2025 be the year of university and cannabis industry partnerships?

Published

4 days ago

February 21, 2025

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(This is a contributed guest column. To be considered as an MJBizDaily guest columnist, please submit your request here.)

Pam Chmiel (Courtesy photo)

2025 is poised to be a pivotal year for partnerships between the cannabis industry and universities, both in the United States and globally.

While academic collaborations are not a new concept, the cannabis industry has been slow to embrace them – mainly because marijuana is illegal on the federal level in the United States.

However, as the industry matures, these partnerships represent the next logical step for companies with the vision and resources to drive innovation, influence policy and shape the future of cannabis.

The potential for collaboration spans research partnerships, sponsored research agreements, joint ventures and licensing arrangements through technology transfer agreements.

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The rapid collapse of MedMen co-founders’ latest marijuana venture

Published

6 days ago

February 19, 2025

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The latest foray into the legal marijuana industry by MedMen Enterprises co-founders Adam Bierman and Andrew Modlin rapidly collapsed amid lawsuits alleging unpaid bills and a dispute with a business partner, court records and public licensing information show.

Megabud – described as a “chain of cannabis convenience stores” – launched in December 2022 with three locations in the San Francisco Bay Area.

The chain, which had ambitious expansion plans, represented at least the third legal cannabis venture for Bierman and Modlin, whose infamous tenure as MedMen executives saw the marijuana multistate operator go public on the Canadian Securities Exchange with an implied valuation of $2 billion before an equally spectacular implosion.

A second cannabis retail chain in which Bierman and Modlin owned a

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