Connect with us

featured

Vireo Growth Provides Corporate Update After Closing All Merger Transactions

Published

on


[PRESS RELEASE] – MINNEAPOLIS, June 17, 2025 – Vireo Growth Inc., announced a series of corporate updates following the closing of all its previously announced definitive merger agreements, which transformed the company into one of the largest U.S. multistate cannabis operators and expanded the company’s portfolio to six states with active operations.

Advertisment: Cannabis Business Times » Cannabis Business Times Best Cannabis Companies to Work For » CBT Best Companies 2026 ROS Parallax Reveal » bcc-ads-730x570
Advertisment: Cannabis Business Times » Cannabis Business Times Best Cannabis Companies to Work For » CBT Best Companies 2026 ROS Parallax Reveal » bcc-ads-730x570

The company announced that it expects pro forma revenue and adjusted EBITDA for the second quarter of 2025 to be in the range of $88 million to $91 million and $23 million to $24 million, respectively. The company’s pro forma financial performance expectations for the second quarter assume that all of the merger transactions closed on April 1, 2025. The company is not able to estimate financial performance ranges for net income at this time, given the uncertainty of timing and impact of certain noncash expenses and other accounting adjustments during its quarterly close process.

Advertisment: Hanwha Vision » Hanwha Vision Order 78 » CBT ROS 300x250 Medium Rectangle June 2025 » Hanwha January Ad
Advertisment: Hydrofarm » Hydrofarm Order 113 » CBT ROS 300x250 Medium Rectangle » PhotoBio MX2 Med Rectangle Ad

The company also simultaneously announced that it believes its improved profitability profile is likely to help secure more favorable terms as it seeks to refinance its outstanding debt obligations. The company’s management team has been engaged in ongoing discussions related to debt refinancing and has signed multiple nonbinding term sheets, which would effectively refinance all of its outstanding senior secured debt under more favorable terms, including all recently assumed debt obligations related to its various merger transaction targets. The company now anticipates that a refinancing event will close expeditiously and that it will have a cash position of greater than $100 million once completed.

Finally, following the closing of these transactions, the company announced that it had 949,254,483 basic shares outstanding on an as converted basis, and 1,087,283,616 shares outstanding on a fully-diluted basis.



Source link

mscannabiz.com
Author: mscannabiz.com

MScannaBIZ for all you Mississippi Cannabis News and Information.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

featured

Connecticut Man Busted with $8.5M Worth of Shrooms

Published

on


A Burlington, Connecticut man was busted for allegedly growing psilocybin mushrooms in a large, commercial-style factory with an estimated $8.5 million in street value. Weston Soule, 21, is accused of allegedly growing millions’ worth of psilocybin mushrooms. He was charged with possession with intent to sell narcotics and the operating of a drug factory.

An unidentified person snitched out Soule, police said. Agents from the DEA Hartford Task force and state police detectives received a tip that suggested a man was operating a clandestine psilocybin mushroom growing operation at a home on Lyon Road.

WFSB Hartford reported that law enforcement agents descended upon Soule’s home on Thursday morning. Once there, authorities said they talked to Soule and saw ventilation equipment throughout the residence that are consistent with psilocybin operations.

Soule led investigators to a detached garage on his property and police found his large mushroom growing operation, where Soule claimed he was simply growing a different type of mushroom.

When Soule initially denied police entry to his home, police submitted a search warrant to New Britain Superior Court, which was granted. Once the search warrant was approved, investigators said they found a large “mushroom factory” with multilevel racks neatly lined up with substrates, inoculation chambers, grains, nutrients, and other supplies. The grow factory contained psilocybin mushrooms in various stages of growth, with an estimated total street value of $8.5 million.

Soule was taken into custody at the scene and transported to state police headquarters in Litchfield, Connecticut where he was processed and charged. Neighbors say a series of factors indicated a grow operation was taking place.

“They were running air conditioners when it was a cold day which didn’t seem right. They had air conditioners in the top windows and front of the house. You also saw more cars there during the day which made it seem like a place of employment rather than someone sleeping there at night,” an eyewitness neighbor told WFSB Hartford.

UNH Criminal Justice Professor and retired FBI agent Kenneth Gray says that’s a usual sign in this operation. “In a marijuana grow house, the house is usually filled with lamps. In this case, mushrooms don’t need a lot of lamps, instead, they need a lot of ventilation,” Gray said.

Soule was held in jail on a $250,000 cash/surety bond and was scheduled to appear for arraignment at New Britain Superior Court on Friday.

Psilocybin Reform in Connecticut

People in Connecticut are also attempting to regulate the cultivation of it legally. In 2021, Dr. Bronner’s pushed for psilocybin reform in Connecticut. New Approach PAC, a lobbyist group, funded $14,000 in 2021 to local firm Grossman Solutions to promote drug policy reform in Connecticut. Dr. Bronner’s is among New Approach’s biggest donors.

CT Insider reported that a task force in Connecticut is examining the efficacy of psilocybin mushrooms for use in therapeutic settings. House Bill 6296, sponsored by Representative Josh Elliot and four other representatives, created a task force responsible for studying the efficacy of psilocybin for a variety of conditions—a key step in legalizing psilocybin for therapeutic purposes. Grossman Solutions will help New Approach engage with Connecticut’s psilocybin task force.

CEO David Bronner is the grandson of company founder Emil Bronner. He said his goal is to free psychedelics, specifically legalization of psilocybin for therapeutic purposes, adding it’s exactly what his grandfather would have done. “The passion of my grandfather was to unite spaceship earth,” Bronner said. “We honor that legacy in different ways,” among them “integration of psychedelic healing in medicine and therapy.” Bronner also said that he believes “psychedelic medicine can really help people heal and wake up, and grapple with pressing problems.”

A pilot program on the benefits of synthetic psilocybin for mental health issues like post-traumatic stress disorder (PTSD) is launching soon at Yale University in New Haven, Connecticut. 

A study cohort will consist of 50 patients, mostly veterans and first responders, who are with mental health concerns like depression and addiction. Participants will take 25 mg of synthetic psilocybin, and after the psychedelic effects wind down, they will discuss issues and progress (or lack thereof) with trained therapists.

Connecticut Post reports that the goal is to fulfill the need for state data that has been lacking, according to state Rep. Michelle Cook (D-Torrington). “We need to have the data to show that there is documented proof of what that therapy does,” Cook said. “We know that it has some incredible outcomes when it is done right, when it’s done by people that are trained in how to use it for treatment of PTSD and so forth.”

Cases like Soule’s would disappear if people in Connecticut gained access to regulated psilocybin as reform bills make their way through legislation.



Source link

mscannabiz.com
Author: mscannabiz.com

MScannaBIZ for all you Mississippi Cannabis News and Information.

Continue Reading

featured

Delaware Lawmaker Withdraws Bill To Regulate Hemp-Derived THC Drinks

Published

on


“I just feel like we didn’t have enough time left to make sure everybody felt comfortable with the bill.”

By Briana Hill, Spotlight Delaware

Delaware’s unregulated market of hemp-derived THC products will remain unchecked for now, as lawmakers pull back on a bill that would have created policy around where and how THC-infused drinks could be sold.

Late last week, Rep. Debra Heffernan (D-Bellefonte) announced in a Facebook post that she is tabling a bill that would have taken beverages infused with tetrahydrocannabinol (THC), the compound responsible for the “high” in marijuana, and regulated them exclusively through Delaware’s three-tier alcohol system.

The bill would have prohibited the sale of such drinks in any gas station, smoke shop, convenience store or hemp shop that currently sells them.

Heffernan’s move to stall the bill comes amid weeks of debate between liquor store operators and hemp businesses owners, who have both argued that having the ability to sell the products would make or break their businesses.

THC-infused products have become popular in such stores since the passage of the 2018 U.S. Farm Bill, which created a loophole allowing for the legal commercial and retail sale of hemp-derived substances.

Hemp is legally defined as a non-intoxicating cannabis plant that contains 0.3 percent or less THC by dry weight. But entrepreneurial hemp farmers have figured out a way to chemically convert the non-intoxicating compound cannabidiol (CBD) from hemp into intoxicating substances like delta-9 and delta-8 THC. It’s technically legal as long as the hemp at time of harvest stays below legal thresholds.

‘Not enough time left’

Heffernan decided to put the measure on hold, saying that she didn’t feel like there was enough time to get the beverage bill completed considering the concerns that arose from retailers who still wanted to be able to sell the products.

“I just feel like we didn’t have enough time left to make sure everybody felt comfortable with the bill,” Heffernan told Spotlight Delaware.

She also wants to be able to gain more input from Delaware’s new marijuana commissioner, Joshua Sanderlin.

Sanderlin, who was appointed to the role on May 14, told Spotlight Delaware that his primary goal regarding the illicit market is to establish regulations for hemp products, since there is currently no oversight at all.

He affirmed that the marijuana industry is equipped to regulate hemp products, but when asked if he would consider putting hemp stores into Delaware’s regulated marijuana industry so that they can continue to sell their products, he said it was an “early question.”

Now that the bill has been stalled, liquor stores can still sell THC-infused beverages, just without the proposed regulations or the 50-cent tax per 12-ounce can that would have been implemented under the legislation.

Edward Mulvihill, president of the Delaware Small Beverage License Council and Director of Sales & Marketing at Peco’s Liquor Store, says liquor businesses will continue to operate in a “gray area,” but he hopes to see clear regulations soon that define what these beverages are and how they should be taxed and sold.

Hemp and CBD shops will also see some temporary relief with the measure being paused. Jena Murray, president of the U.S Hemp Roundtable, which represents various hemp companies both in and out of state, noted that she and other advocates will continue to push for policy in Delaware that is inclusive to hemp and CBD businesses that have already been selling hemp-derived THC consumable products.

But with both proposals on hold, and potential regulation around THC products being stalled until next year, it is unclear how the lack of enforcement will continue to burden the state.

It is also whether state officials will have to provide more resources to crack down on shops that are selling illegal products.

The widespread sale of the products in Delaware has increased over the past few years, raising concerns among state officials, who have noted an increase in reports of underage consumption and the use of harmful chemicals in the products.

The Delaware Department of Alcohol and Tobacco Enforcement, which has currently been keeping track of the unregulated market, did not respond to a request for comment on Monday.

Early last month, Heffernan introduced a larger measure to tackle the unregulated market, which, in addition to regulating THC beverages through the state’s alcohol establishments, would have placed hemp-derived THC edibles like gummies, chocolates, smokable flower, and oils under the purview of Delaware’s marijuana industry.

The original bill was met with backlash from hemp and CBD store operators, who said that the bill would take all of the products off their shelves and force them to close their businesses.

But those within the alcohol industry said that the bill was coming at a convenient time considering that many liquor stores statewide have been experiencing a decline in revenue over the past two years.

Last month during the House Economic Development/Banking/Insurance & Commerce Committee hearing, co-founder of Universal Beverage Importers, Jason Giuliano, noted that THC-infused beverages could make up to 20% in liquor store sales.

But about a month after the original measure was introduced, Heffernan divided the proposal into two bills, with the goal of only move forward this legislative session with the measure that would regulate THC drinks, noting that the beverage bill had more “agreement on the path forward.”

She said she would talk with more stakeholders over the summer before finalizing the second bill that would regulate other edible THC products, with hopes of having something to file in January.

This story was first published by Spotlight Delaware.

CBD From Cannabis Could Help Reduce Alcohol Binge Drinking, Study Shows

Marijuana Moment is made possible with support from readers. If you rely on our cannabis advocacy journalism to stay informed, please consider a monthly Patreon pledge.

Become a patron at Patreon!





Source link

mscannabiz.com
Author: mscannabiz.com

MScannaBIZ for all you Mississippi Cannabis News and Information.

Continue Reading

featured

Dallas-Area Officers Raid 3 Licensed Hemp Distribution Warehouses in ‘Enforcement Overreach’

Published

on


[PRESS RELEASE] – DALLAS, June 17, 2025 – In a troubling action by law enforcement against the federally legal hemp industry, officers raided three licensed distribution warehouses in the Harry Hines district of Dallas: Monster, Frontline Wholesale, and Cannafy Distribution. All three companies distribute fully federally compliant hemp-derived products, sold nationwide and verified by certificates of analysis (COAs) from certified laboratories. These products help thousands of Texans, including veterans, cancer patients and individuals with chronic pain.

Each product includes a QR code that links directly to its COA—a legally binding document, signed by a DEA-registered, ISO-accredited lab director, confirming that the product meets the legal requirement of less than 0.3% delta-9 THC. These tests follow validated scientific methods.

“Monster Distribution has complied with the law in every way. They relied in good faith on licensed, accredited labs to verify that the products meet all legal standards,” said David Sergi, attorney for Monster. “This raid was not based on facts. It was based on political theater. And when law enforcement acts outside its authority to deprive businesses and individuals of their rights and property, it raises serious legal concerns.”

The Texas Forensic Science Commission (FSC) has repeatedly cautioned law enforcement and prosecutors about the limitations of certain lab methodologies used in cannabinoid testing, including the improper use of gas chromatography without derivatization, which can convert nonpsychoactive THCa into delta-9 THC and produce misleading results. Despite these warnings, the state continues to build cases on questionable science.



Source link

mscannabiz.com
Author: mscannabiz.com

MScannaBIZ for all you Mississippi Cannabis News and Information.

Continue Reading
featured44 minutes ago

Connecticut Man Busted with $8.5M Worth of Shrooms

Mississippi Cannabis News2 hours ago

Mississippi Choctaws to Elect Tribal Council Representatives

featured2 hours ago

Delaware Lawmaker Withdraws Bill To Regulate Hemp-Derived THC Drinks

Mississippi Cannabis News3 hours ago

Mississippi AG Limits Sale of Consumable Hemp Products

featured3 hours ago

Dallas-Area Officers Raid 3 Licensed Hemp Distribution Warehouses in ‘Enforcement Overreach’

featured4 hours ago

The Counterculture Giant Reclaims Its Roots

featured5 hours ago

Study: Daily Cannabis Consumers Exhibit Few Changes in Simulated Driving Performance Compared to Controls

featured6 hours ago

Oregon Officials Will Appeal Court Decision That Overturned Marijuana Industry Labor Peace Law

featured7 hours ago

Terrabis Opening 5th Illinois Dispensary in Mundelein

featured8 hours ago

Texas Governor Still Won’t Say If He’ll Sign Hemp Ban Bill, But Thinks There Are ‘Meaningful’ Concerns On Both Sides Of The Debate

featured9 hours ago

A Cannabis Match Made In Heaven

featured10 hours ago

Vireo Growth Provides Corporate Update After Closing All Merger Transactions

featured11 hours ago

Most Marijuana Consumers Oppose Trump’s Cannabis Actions So Far, But Rescheduling Or Legalization Could Bolster Support, Poll Shows

featured12 hours ago

The Massachusetts Cannabis Trail: How The Fresh Connection Thrives in a Competitive Market

Mississippi Cannabis News13 hours ago

Interview with Anna Schwabe, PhD

featured13 hours ago

Will Supreme Court take up cannabis companies’ challenge to federal prohibition? (Newsletter: June 17, 2025)

Mississippi Cannabis News14 hours ago

Drinks containing THC sold at gas stations. Is that legal?

featured14 hours ago

Report: Jeeter is Top Pre-Roll Brand in the U.S.

featured16 hours ago

Oregon Senate Passes Bill to Increase Penalties for Landowners Allowing Illegal Cannabis Cultivation

featured17 hours ago

Letter to Trump Calls for Ending Federal Cannabis Arrests to Save Government Money

featured22 hours ago

GOP Senators File Bill To Ramp Up Criminalization Of ‘Candy-Flavored’ Marijuana Edibles

featured23 hours ago

Wisconsin Will Legalize Marijuana If Democrats Control Legislature, Governor Says, So People Can Stop Buying It Next Door In Illinois

featured24 hours ago

D.C. Hemp Company Sues Feds Over ‘Unworkable Standard’ Created By Marijuana Budget Rider

video1 day ago

Could Watertown reverse course on cannabis shops?

California Cannabis Updates1 year ago

Alert: Department of Cannabis Control updates data dashboards with full data for 2023 

Breaking News1 year ago

Connecticut Appoints The US’s First Cannabis Ombudsperson – Yes there is a pun in there and I’m Sure Erin Kirk Is Going To Hear It More Than Once!

best list11 months ago

5 best CBD creams of 2024 by Leafly

Bay Smokes12 months ago

Free delta-9 gummies from Bay Smokes

Business9 months ago

EU initiative begins bid to open access to psychedelic therapies

cbd1 year ago

New Study Analyzes the Effects of THCV, CBD on Weight Loss

Mississippi Cannabis News1 year ago

Mississippi city official pleads guilty to selling fake CBD products

California1 year ago

May 2024 Leafly HighLight: Pink Runtz strain

Breaking News1 year ago

Curaleaf Start Process Of Getting Their Claws Into The UK’s National Health System – With Former MP (Resigned Today 30/5/24) As The Front Man

Mississippi Cannabis News1 year ago

Horn Lake denies cannabis dispensary request to allow sale of drug paraphernalia and Sunday sales | News

autoflower seeds9 months ago

5 best autoflower seed banks of 2024 by Leafly

cannabis brands9 months ago

Discover New York’s dankest cannabis brands [September 2024]

Hemp1 year ago

Press Release: CANNRA Calls for Farm Bill to Clarify Existing State Authority to Regulate Hemp Products

Mississippi Cannabis News1 year ago

Local medical cannabis dispensary reacts to MSDH pulling Rapid Analytics License – WLBT

Breaking News1 year ago

Nevada CCB to Accept Applications for Cannabis Establishments in White Pine County – “Only one cultivation and one production license will be awarded in White Pine County”

Arkansas9 months ago

The Daily Hit: October 2, 2024

best list1 year ago

6 best CBD gummies of 2024 by Leafly

best list12 months ago

5 best THC drinks of 2024 by Leafly

best list12 months ago

5 best delta-9 THC gummies of 2024 by Leafly

Breaking News1 year ago

Weekly Update: Monday, May 13, 2024 including, New Guide for Renewals & May Board meeting application deadline

Mississippi Cannabis News1 year ago

People In This State Googled ‘Medical Marijuana’ The Most, Study Shows

Breaking News1 year ago

PRESS RELEASE : Justice Department Submits Proposed Regulation to Reschedule Marijuana

California Cannabis Updates1 year ago

Press Release: May 9, STIIIZY and Healing Urban Barrios hosted an Expungement Clinic & Second Chance Resource Fair

Asia Pacific & Australia1 year ago

Thailand: Pro-cannabis advocates rally ahead of the government’s plan to recriminalize the plant

Trending