Marijuana Business Daily

Marijuana firm Bright Green’s immigrant fundraising plan draws scrutiny

Published

2 years ago

March 1, 2023

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Nasdaq-traded marijuana company Bright Green Corp. is again attracting scrutiny and questions, this time for its audacious plan to raise $500 million through a federal investment program that targets immigrant investors.

The company announced in a February news release it would use the money generated through the EB-5 Immigrant Investor Program to build out its “world-class production and drug manufacturing facilities” in the small New Mexico town of Grants.

Florida-based Bright Green also plans to use the money to bankroll research and development as well as federal clinical trials for drug development.

Bright Green’s CEO calls the strategy “quite a novel way” to raise money at a time when cannabis industry funding is tight.

However, experts familiar with the EB-5 Immigrant Investor Program are raising questions about the company’s use of the investment vehicle.

The program allows international investors to qualify for a U.S. green card,

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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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