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Good morning. Here’s a look at the cannabis industry today.
 
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F E A T U R E D  S T O R Y

Shock veto upends Virginia adult-use cannabis retail launch

In a stunning reversal that means a new billion-dollar adult-use cannabis market may not open until 2028, Virginia Gov. Abigail Spanberger on Tuesday vetoed a bill that would have finally launched recreational sales in the South – one that she’d initially promised to sign. Virginia legalized adult-use cannabis possession in 2021, but sales are still restricted to medical-only through one of the five licensed vertically integrated medical cannabis providers.

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Cannabis lending to expand as ‘institutional capital’ sinks $60 million into FundCanna

An unnamed but major player in “institutional capital” has agreed to invest up to $60 million into San Diego-based lender, FundCanna. The company expects the new funding will fund its accounts-payable platform, creating a source of ready cash to “larger multi-state operators and established cannabis brands, particularly those focused on scaling wholesale distribution.” Read story >

More Headlines

• Can regenerative farming save outdoor cannabis cultivation? 
  Read story > 
• Minnesota lawmakers ‘tweak’ cannabis laws to create new category, boost hemp THC. Read story >
• Colorado lawmakers reject cannabis hospitality ‘pop-up’ events. Read story > 
• Report: Massachusetts governor expected to fire cannabis czar. Read story > 

F A C T B O O K  

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