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Rhode Island Marijuana Regulators Weigh How To Award New Dispensary Licenses

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3 months ago

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“It is unfair to everyone who has invested time, money and attention in this process. We ask that there be no delay.”

By Christopher Shea, Rhode Island Currant

State cannabis regulators have yet to decide how they will handle the allocation of 20 retail cannabis licenses to applicants selected by lottery before May.

The state planned to issue 24 licenses but reduced the number based on the distribution of applicants among the state’s six geographic areas. A total of 98 applications were submitted by the Rhode Island Cannabis Control Board’s December 29, 2025 deadline. One has since been withdrawn, Rhode Island Cannabis Administrator Michelle Reddish told the board at Friday’s monthly meeting.

A second applicant withdrew after the meeting, Cannabis Control Board spokesman Charon Rose confirmed Tuesday.

Commission staff are still reviewing applicants’ qualifications before they enter the final lottery that will award retail licenses. A breakdown of applicants available on the commission’s website shows that more than half — 56 — are seeking general retail licenses. Another 19 were cooperative workers and the remaining 23 were for social equity applicants, or those affected by the war on drugs.

State regulations passed last year set a maximum of four retailers zoneat least one license designated for a social equity applicant, and for a worker-owned cooperative.

Nearly a third of all retail license applications — 31 — were in Zone 6, along with all of Pawtucket, East Providence, Bristol and Newport counties.

Zone 1, which covers Burrillville, Cumberland, Glocester, North Smithfield and Smithfield, saw only two applications, both for social equity licenses. Applicants that did fall back were Die of Laughter, which applied to Zone 5, and Green Dolphin, which applied to Zone 4.

At the committee’s Friday meeting, the committee raised the possibility of phasing out the license release.

“Many stakeholders have raised the issue that if all potential licenses come online at the same time, the price of the product could drop so quickly that no one would win,” said Commissioner Robert Jacquard.

Kevin Rouleau, chief operating officer of Portsmouth-based Newport Cannabis Company, warned that a rapid saturation of the state’s small market could lead to a “race to the bottom” as more established businesses like his try to survive the new competition.

“This is going to hurt everybody, especially farmers who get pennies on the dollar for their produce,” Rouleau said.

The cultivators who participated in the meeting did not feel that way.

“We’re absolutely fine moving forward with the retail stores and we’re not concerned about that outcome,” Rhode Island Growers Association representative Nicholas Lacroix told the commission during the public comment period.

However, Reddish was concerned that the rapid expansion could lead to problems that have occurred in other states.

Cannabis revenue in Michigan fell in 2025, despite record total sales, driven by falling prices. The Oregon market has come under increased pressure from large harvests and low wholesale prices. In Massachusetts, merchants describe a “race to the bottom” that has wiped out many businesses from their market.

“Based on these examples, there is a need to discuss whether the commission should use its ability to take proactive steps to support a stable and successful cannabis industry, prepare to respond to market changes in real time and adjust course if necessary,” he said.

But attorney Allan Fung, a former Cranston mayor and former GOP congressional and gubernatorial candidate, appeared on behalf of several candidates. the applicantshe said that the market should ultimately be the entity that dictates price and competition.

“It’s unfair to everyone who has invested time, money and attention in this process,” Fung told commissioners. “We ask that there be no delay.”

It has already been a slow road for the state to establish its own recreational cannabis market. More than a year passed before the three-member committee was inaugurated in June 2023. The commission had to hire staff to write proposals and review rules adopted in other states. Rhode Island’s rules governing retail cannabis were finally approved in May 2025. Chairman Kim Ahern stepped down last October to become attorney general, and Gov. Dan McKee (D) has yet to name a successor.

Meanwhile, eight medical dispensaries in the state have been authorized to sell recreational cannabis under hybrid licenses.

“The only people who benefit from these dispensaries being slow are the current dispensaries who have a monopoly on the cannabis market,” said Spencer Blier, director of Warwick-based Mammoth Inc. CEO and founder of cultivator.

Because few applications were submitted for Zone 1, Reddish informed the board on Jan. 16. the meeting that regulators would issue up to 20 licenses statewide.

“Depending on how the application process is completed, that number may decrease,” Reddish said Friday.

Starting Jan. 1, the state Office of Cannabis had 90 days to review applications and confirm they met eligibility requirements before entering a lottery, according to a schedule approved by the commission at its Oct. 20 meeting.

Applicants must still obtain the necessary local approvals to enter the random drawing. Regulators aimed to start issuing licenses before May, although the regulations do not specify how many will be issued at one time.

The commissioners did not vote on Friday. The board decided to decide how many licenses to grant at a time for a future meeting.

The next meeting organized by the committee is Friday, March 20, at 1:00 p.m.

This story was first published by the Rhode Island Currant.

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Cannabis operators report mixed results as rescheduling reshapes the financial outlook

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10 hours ago

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May 14, 2026

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The rescheduling came mid-quarter and rewrote the tax math for each medical sales operator, but the underlying revenue picture remained uneven in early 2026, with acquisitions driven at one end of the scale and continued top-line compression at the other.

Vireo Growth: Back on $106 million deal
Vireo Growth Inc. reported Q1 GAAP revenue of $106.2 million, up 333.5% year-over-year, driven almost entirely by recent acquisitions rather than organic growth. The company completed the Schwazze acquisition in March, adding 45 dispensaries and two manufacturing facilities in Colorado and New Mexico. At the end of the quarter, it closed Eaze and Hawthorne Gardening, FLUENT Corp. announced an acquisition agreement and executed a California dispensary joint venture with Glass House Brands. Treating all acquisitions as closed on January 1, 2025 on a pro forma basis, revenue was $210.2 million and adjusted EBITDA was $42.2 million. The company ended the quarter with $137.8 million in cash.

John Mazarakis, CEO of Vireo, said: “Performance in the first quarter met our expectations and we are excited to welcome Schwazze, Eaze and Hawthorne to Vireo. We are focused on integration and optimization across the platform, while remaining opportunistic regarding growth opportunities associated with further acquisitions.”

Cresco Labs: $151 million, 280E relief and Texas license
Cresco Labs reported Q1 revenue of $151 million, down from $165.8 million in Q1 2025. Adjusted gross margin was 50.7% and adjusted EBITDA margin of $33 million was 21.7%. Cash at the end of the quarter was $67 million against a $310 million secured term loan. The company was conditionally granted a Texas Compassionate Use Program license after the quarter ended and opened two new dispensaries in Ohio.

Management said, “Moving the state’s legal medical cannabis from Schedule I to Schedule III is the most impactful reform this industry has seen, and it validates the work we’ve been executing for years. We’ve built the operational foundation and balance sheet discipline to reap the immediate benefits of rescheduling, and position Cresco to take advantage of the broader path to normalization.”

Jushi Holdings: 4% growth, 460 basis point margin expansion
Jushi Holdings reported first-quarter revenue of $66.4 million, up 4% year-over-year, with gross profit margin up 460 basis points to 45%. Adjusted EBITDA was $11.4 million, up 17.2%. The margin improvement was driven by higher production volumes in Ohio, Massachusetts and Pennsylvania and the performance of grower processors. Jushi brand products accounted for 58% of retail revenue in vertical markets. The company refinanced $132.3 million in debt during the quarter, providing $160 million in new debt through 2029.

Jim Cacioppo, president and CEO, said: “The recent scheduling of state-licensed medical marijuana for Schedule III is an important milestone for the industry, eliminating 280E tax limitations for medical operations and supporting a more favorable long-term operating environment.” Medical sales accounted for about 60% of Jushi’s 2025 revenue, making this material relief.

iAnthus Capital: Revenue falls to $33.5 million
iAnthus Capital reported first-quarter revenue of $33.5 million, down $4.6 million from 2025’s first quarter. Gross margin was 47.5%, up 477 basis points from the 2025 quarter. The company did not provide a management comment in the press release.

Country farms: international export record, fourth consecutive quarter of net income
Village Farms International reported first quarter consolidated net sales of $50.2 million, up 27% year-over-year, with net income of $2.9 million and adjusted EBITDA of $9.9 million, up 118% year-over-year. International export sales increased 171% to a record $14.6 million, driven by demand for EU-GMP compliant products in Germany. Pure Sunfarms had the top Canadian market share in dried flowers for the 15th consecutive month. The company started planting the first half of its Delta 2 greenhouse expansion and expects its Phase II facility in the Netherlands to reach full capacity by the end of 2026, which would quadruple Dutch production.

Michael DeGiglio, President and CEO, said: “Our first quarter results reflect a strong start to the year and continued momentum in our largest markets, with adjusted EBITDA growth of 118% year-over-year, significantly outpacing revenue growth of 27%, driven by our international business and continued leadership in Canada.

Cronos Group: Record revenue, $822 million in cash
Cronos Group reported Q1 net income of $45.2 million, up 40% year-over-year and a record quarter, with net income of $15.7 million and adjusted EBITDA of $5.1 million. Israel led growth PEACE NATURALS grew 53% for ninth consecutive record quarter. In Canada, the Spinach brand took first place in vapes with a 9.8% share of the national market, and maintained its top spot in edibles at 20.8%. The company ended the quarter with $821.9 million in cash and authorized a new $50 million stock repurchase program. The deadline to close the acquisition of CanAdelaar, one of the ten licensed growers in the Dutch Controlled Cannabis Supply Chain Experiment, has been extended to September 9, 2026 to allow time for regulatory approvals.

Mike Gorenstein, chairman, president and CEO, said, “Cronos achieved net earnings and gross profit in the first quarter as we continue to execute against our unlimited product strategy and the additional supply from Cronos GrowCo’s expansion fuels the next phase of our growth.”

Org chart: Revenue down 9%, Sanity Group acquisition closes after quarter
Organigram Global reported fiscal second quarter net income of $59.8 million, down 9% year-over-year, with adjusted EBITDA of $0.9 million, down 82%. Lower vape and pre-infusion sales drove the decline, along with a $5.8 billion dent in the U.S. hemp business. The company achieved a record quarterly harvest of over 32,000kg at its Moncton facility, up 56% year-on-year, and launched 10 SKUs in Australia targeting over 4,000 pharmacies. At the end of the quarter, Organigram acquired Sanity Group, one of Germany’s leading cannabis companies, and updated its 2026 guidance to net revenue of more than $350 million.

James Yamanaka, CEO, said: “Q2 reflected our poor performance in vaporizers and temporary challenges in pre-infusion production, compounded by slower industry growth. We have acted quickly to address these issues, and the operational changes and product improvements we have implemented are already beginning to stabilize performance.”

Greg Guyatt, Chief Financial Officer, said: “The financial impact of the competitive and operational challenges encountered earlier in fiscal 2026 is believed to have materialized in the first half of the year, and we are now beginning to stabilize performance. We expect to resume a trajectory of margin expansion and improved profitability during the second half of the year, supported by positive revenue and international sales growth. The Sanity Group.”

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Medical Marijuana Helps Pain Patients Reduce Use Of Opioids, New Study Shows

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May 14, 2026

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As opioids continue to cause overdose deaths, a new study suggests that making medical cannabis available and affordable could help patients reduce their use of prescription painkillers.

“Although cannabis has historically been characterized as a potential ‘gateway drug,’ it may also serve as a harm reduction tool for some patients seeking to reduce their reliance on higher-risk opioid medications,” researchers at the University of Pennsylvania Perelman School of Medicine found.

The study, a prospective observational trial at the Hospital of the University of Pennsylvania, followed 29 adults over five months. All had been living with chronic pain for years—an average of 11 years—and were already taking opioid medications, but struggled to taper off of them despite other treatments.

The study is unique in its focus on cost as a factor in access to medical marijuana, with the researchers describing their work as “the first prospective observational study evaluating medical cannabis as an alternative to opioids in a setting where cost was removed as a major barrier.”

Participants were recruited from a university outpatient chronic pain clinic and then completed monthly pain assessments using the Numeric Pain Rating Scale (NRS). The researchers measured daily opioid use, measured in milligrams of morphine equivalents (MME).

“Seven patients (24%) were able to completely discontinue opioid therapy at the end of the study, five of whom did so by the second month. Pain levels also decreased over time,” the authors wrote.

Notably, “there was a statistically significant reduction in mean pain scores experienced over the five-month study period,” says the paper published in the Cureus Journal of Medical Science.

“There was also a reduction in average opioid consumption of about 32 MME per day, which remained the same throughout the follow-up. In addition, seven patients were able to completely discontinue opioid therapy during the study.”

“Mean daily opioid consumption decreased from 46.8 MME/day at baseline to 16.2 MME/day at one month and remained low during the five-month follow-up period,” the researchers found.

What set the new study apart was not just the inclusion of medical cannabis, but the deliberate removal of cost as a barrier. Participants “consistently identified cost as a major barrier to initiating medical cannabis” before enrolling in the study, the document says.

Noting the novelty of the study, they added their hypothesis: “Improving access to medical cannabis will allow a subset of patients, especially those with a high cost barrier, to reduce or discontinue opioid use while maintaining adequate pain control.”

“These results suggest that medical cannabis may be a useful adjunctive therapy to reduce opioid use, relieve chronic pain, and improve health-related quality of life,” they concluded.

“The findings of this study add to the body of literature supporting the safety profile and potential therapeutic role of cannabis.”

The studies the authors are cautious in their conclusions, warning of limitations and the need for further research. “The sample size was small and derived from a single clinical site, and there was no control group.” And because “patients self-titrate cannabis products, leading to variability in dosage and frequency of use,” the findings are not standardized.

But the authors concluded that “when used under appropriate medical supervision, medical cannabis may be an effective adjunctive strategy to reduce opioid use among patients receiving long-term opioid therapy.”

This study follows a Recent research shows that using medical marijuana helps people reduce their use of other drugs, including opioids.sleep aids and antidepressants. They also experience fewer negative side effects after switching from prescription drugs to cannabis, according to a study involving more than 3,500 patients.

It also comes from behind President Donald Trump says marijuana ‘can make people feel a lot better’ and serves as a “substitute for addictive and potentially lethal opioids.”

Last month, the Trump administration announced it moving forward with federal reclassification of marijuana medicinal cannabis is classified under Schedule I to III of the Controlled Substances Act.

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Livermore Falls debates cannabis licensing fees

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1 day ago

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May 13, 2026

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Existing medical cannabis licensing fees will be temporarily applied to recreational marijuana businesses, the Select Committee decided on May 5. Board members agreed 4-1 to the temporary change, as long as officials say the fees are higher than necessary and accurately reflect the town’s oversight costs.

Bryce Cobb, Livermore Falls’ code enforcement officer, plumbing inspector, health officer and E-911 dispatcher, said voters approved the amended cannabis ordinance on April 28. Cobb said the amended ordinance allows recreational marijuana businesses and the next step was to establish a fee schedule. Recreational cannabis businesses operating in town would require local licensing approval under the ordinance.

Asked if he had fee schedules from other towns to compare, Cobb said he did not. Additionally, the town’s fee schedule specifically mentions medicinal cannabis.

“So it could be medical and adult use,” Cobb said when discussing whether the existing fee structure could apply to recreational businesses.

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