Marijuana Business Daily

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

Published

1 month 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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Marijuana Business Daily

Humboldt County extends deadline to pay marijuana cultivation taxes

Published

1 day ago

March 28, 2025

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Humboldt County supervisors have extended the deadline for hundreds of marijuana farmers to pay off cultivation taxes enacted years ago.

County growers faced a March 31 deadline to eliminate all tax debts related to Measure S, a ballot referendum approved by voters in 2016, more than a year before the launch of adult-use sales.

Supervisors pushed the looming deadline to April 4 for 210 license holders to make their first payments or face suspension, according to the Standard Times of Eureka.

For the hundreds more who have made some payment, their deadline was extended to Dec. 31, 2025.

No more relief

The county supervisors indicated at their March 25 meeting this will be the final extension, the newspaper reported.

Despite the extensions, hundreds

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Marijuana Business Daily

The road ahead for cannabis lending in 2025

Published

3 days ago

March 27, 2025

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

Stacy Litke (Courtesy photo)

As cannabis banking becomes increasingly competitive – particularly in states with mature markets – financial institutions are being pushed to rethink their strategies.

While cannabis accounts offer the ability to add core deposits, the real opportunity is in lending.

For banks and credit unions willing to embrace the risks of this high-growth industry, the rewards can be substantial for lenders and borrowers alike.

The cannabis sector requires tens of billions of dollars annually just to sustain operations; even greater capital is needed to fuel growth.

According to an October 2024 report from Oregon-headquartered Whitney Economics, “The U.S. cannabis industry will need between

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Edible Arrangements’ parent company enters hemp-derived THC market

Published

1 week ago

March 21, 2025

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Edible Arrangements’ parent company is getting into the cannabis edibles business.

Georgia-based Edible Brands is launching edibles.com, an e-commerce marketplace that will offer hemp-derived THC products from brands such as Cann, Wana Brands and 1906.

Edible Arrangements is a franchisor of stores that sell bouquet-shaped fruit baskets.

Edibles.com launched in Texas on Thursday and plans to expand into regulated markets in Florida and Georgia, according to a news release.

Some products will be available to be shipped where it’s legally allowed.

The company also plans to open a flagship store in Atlanta that will serve as a prototype for a limited franchising program, the release noted.

The platform will be led by Thomas Winstanley, who previously was chief marketing officer for East

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