Michigan’s New Cannabis Liability Insurance Requirements Raise Concerns by Licensees, Insurers
Marijuana Industry NewsMichigan January 11, 2022 0
Authors: Ian A. Stewart and William S. Cook Michigan has adopted new legislation that unintentionally may make Michigan cannabis companies and their insurers scramble to determine how to comply with onerous regulations around mandatory product liability insurance. Without materially consulting the insurance industry on the feasibility of new insurance... Read more
Michigan reaps $271M total marijuana revenue
Marijuana Industry NewsMichiganRecreational Marijuana January 7, 2022 0
Michigan has collected about $271 million in legal, adult-use marijuana tax revenue since 2019, according to a new report from the Marijuana Policy Project that analyzed tax revenue in states with adult-use cannabis since 2014. In March 2021, the Michigan Treasury described what adult-use cannabis taxes collected in fiscal year 2020 will... Read more
Ryan Allway January 5th, 2022 Positive Net Income of $0.43M, before fair value adjustments Q4 2021 Revenue of $3.76M versus $3.03M in Q3 2021, an increase of 24% Q4 2021 aEBITDA1 margin of 30% ($1.14M), versus 25% ($0.77M) in Q3 2021, an increase of 48% ($0.37M) Michigan operations (through Golden... Read more
Michigan judge lets some marijuana in massive recall return to shelves
Marijuana Industry NewsMichigan December 6, 2021 0
Michigan Court of Claims Judge Christopher Murray has lifted a portion of the state’s widespread marijuana recall, saying a segment of it was “in all likelihood based upon an arbitrary decision.” On Nov. 17, the Marijuana Regulatory Agency recalled products tested by Viridis Laboratories and Viridis North because of... Read more
Thousands of pounds of marijuana forced off shelves in Michigan’s largest cannabis recall
Marijuana Industry NewsMichigan November 20, 2021 0
Tens of millions of dollars worth of marijuana was recalled from more than 400 dispensaries in Michigan because the lab that tested the cannabis produced inaccurate or unreliable results, according to the state’s Marijuana Regulatory Agency (MRA). It’s the largest recall in state history and involves thousands of pounds... Read more
