This week in cannabis was anything but quiet. From LFTD Partners Inc. (OTCQB:LIFD) making a move into the Illinois cannabis market to Trulieve Cannabis Corp. (OTCQX:TCNNF) expanding its beverage portfolio, the industry saw big announcements across multiple fronts. Meanwhile, Germany's cannabis imports surged fourfold, cementing its role as Europe's top market, while New Jersey and Ohio legislators clashed over tax hikes and voter-approved cannabis laws. In the celebrity space, Ice Cube unveiled his new cannabis brand in partnership with Priscilla Vilchis, a strategic move aimed at avoiding the common pitfalls of celebrity-endorsed cannabis products. High Times' intellectual property is once again up for sale, leaving questions about the future of the once-iconic brand. On the social justice front, B NOBLE announced a $25,000 donation to The Bronx Defenders, reinforcing its commitment to cannabis-related criminal justice reform. At the same time, New York is rolling out a marijuana business grant program aimed at helping dispensaries run by those harmed by prohibition. Meanwhile, Curaleaf Holdings Inc. (OTCQX:CURLF) and Total Wine & More are partnering to expand cannabis-infused beverage distribution, signaling further normalization of THC drinks in mainstream retail. And in sports, WWE reportedly removed marijuana from its banned substances list, aligning with broader trends in professional athletics. On the events side, Benzinga's Cannabis Market Spotlight: New Jersey takes place this Tuesday, March 4, bringing together key investors, regulators, and operators to discuss the latest trends shaping one of the East Coast's fastest-growing markets. From shifting regulations to corporate power moves, let's dive into this week's top cannabis industry news. Market Moves And Corporate Expansions LFTD Partners Expands Into Illinois Cannabis Market LFTD Partners Inc. is making a major play in Illinois, announcing plans to acquire cannabis licenses, industrial properties and retail businesses. The deal includes craft grow, infuser and transport licenses, an 18,558-square-foot facility in Skokie for cannabis manufacturing and two industrial buildings in Rockford that could be used for cultivation or THC beverage production. Additionally, LFTD is acquiring Mrs. Buckbee's Wake N Bakery and stakes in District Bar & Grill and Half Baked Bar. The transactions, structured as an all-stock deal, are subject to regulatory approvals, audits, and transfer of licenses. If completed, John Murray will join LFTD's board as chief business officer and Erik Carlson will become general counsel and chief compliance officer. CEO Gerard Jacobs called the acquisitions a strategic diversification into real estate and marijuana businesses. Trulieve Launches THC-Infused Beverage Line Trulieve Cannabis Corp. is entering the cannabis beverage market with Onward, a line of non-alcoholic THC drinks designed for social settings. The beverages, made with naturally derived THC and CBD, come in flavors like blueberry mojito, Italian spritz and peach bellini. Available online and soon at select Total Wine stores in Florida, Onward aims to attract consumers seeking alternatives to alcohol. CEO Kim Rivers highlighted Trulieve's experience in product development, positioning Onward as a new way to meet evolving consumer preferences. The drinks are low-calorie, free of artificial ingredients, and made using a proprietary formulation to ensure consistency. Ice Cube Partners With Priscilla Vilchis To Launch Fryday Kush Ice Cube is bringing his signature style to the cannabis industry with Fryday Kush, a new brand developed in partnership with cannabis entrepreneur Priscilla Vilchis. The duo has spent over a year perfecting 16 hand-picked strains designed for different consumer preferences, from high-potency selections to milder options for social use. Vilchis, known as the "Hollyweed Queen," was one of the first Latinas to secure cannabis licenses in California and Nevada. Her experience in cultivation and market expansion aligns with Cube's demand for quality. “She's definitely somebody who won't take no for an answer when it comes to this space,” Cube said of his partner. Unlike many celebrity cannabis ventures, Fryday Kush is focused on authenticity and quality. The brand's launch comes amid growing consumer demand for premium cannabis products and a competitive landscape where only well-executed brands thrive. California Cannabis Brand CAKE Launching Statewide Across Nevada CAKE, one of California's fastest-growing cannabis brands, expanded into Nevada. Known for its signature electric-pink vape devices and bold branding, the female-founded company has rapidly gained market dominance, achieving $24 million in sales last year with a 4,200% growth surge. CEO Chloe Kaleiokalani emphasized that Nevada's cannabis scene has been waiting for a product that "hits different," referencing the brand's blend of premium quality and cultural influence. CAKE's Designer Distillate vapes will be available at dispensaries across Nevada, including Wallflower, GTI, Nevada Made, Thrive, Curaleaf, Shango, Euphoria and more. Curaleaf Partners With Total Wine & More To Expand THC Beverage Distribution Curaleaf Holdings Inc. is taking its THC beverage line, Select Zero Proof, into mainstream retail by partnering with Total Wine & More. The deal will place Curaleaf's hemp-derived THC seltzers in over 100 Total Wine locations across nine states, including Arizona, Florida, Texas and North Carolina, with further expansion planned. The partnership underscores ...Full story available on Benzinga.com

Gov. Phil Murphy's proposal to raise New Jersey's cannabis excise tax from $2.50 to $15 per ounce has ignited a fierce debate among lawmakers and industry leaders. Billed as a strategy to fund social programs, the sixfold increase has raised concerns about its potential impact on the state's legal cannabis market. This policy shift comes just as cannabis professionals prepare to gather at Benzinga's Cannabis Market Spotlight: New Jersey event on March 4, where Murphy's tax plan is expected to be a topic of discussion. See Also: US Stocks Likely To Open Higher Following A Sell-Off, ‘This Choppy Start To 2025 Isn’t Abnormal Governor Proposes Major Cannabis Tax Increase According to the New Jersey Monitor, Murphy introduced the tax hike during his Feb. 25 budget address, describing it as a way to reinvest in communities harmed by past drug policies. The proposed increase would apply to New Jersey's social equity excise fee, a tax imposed on cannabis cultivators, raising it from $2.50 per ounce to $15 per ounce. Murphy argued that cannabis, once used to penalize individuals through harsh criminal sentencing, is now serving as a financial resource for rebuilding communities. "In just five years, cannabis has gone from destroying lives—in the form of excessive criminal sentences—to helping save lives," Murphy said during his address, as reported by the Green Market Report. The tax revenue, which state officials estimate could generate $70 million annually, would be allocated to social equity programs, including violence prevention and youth outreach ...Full story available on Benzinga.com

New Jersey is taking a major step forward in its cannabis industry with the official launch of its consumption lounge licensing process. The state's Cannabis Regulatory Commission (CRC) began accepting applications for on-site consumption areas on January 2, 2025, allowing businesses to create designated spaces where customers can legally use cannabis products. This move comes as New Jersey's legal cannabis market surpasses $1 billion in sales, according to the CRC's latest market report. The timing of this regulatory shift aligns with the upcoming Benzinga Cannabis Market Spotlight: New Jersey event on March 4, 2025, in Somerset. At this event, industry leaders, regulators, and investors will discuss the future of New Jersey's cannabis economy, including the role of consumption lounges. New Regulations and Application Timeline According to the New Jersey Cannabis Regulatory Commission, the licensing process for consumption lounges will roll out in three phases: January 2, 2025: Applications opened for social equity businesses, meaning those owned by individuals with past cannabis-related convictions or from economically disadvantaged communities. April 2, 2025: Microbusinesses and diversely-owned dispensaries, including those owned by minorities, women, and disabled veterans, will be able to apply. July 2, 2025: The process will open to all other ...Full story available on Benzinga.com

Germany’s medical cannabis imports hit a record 31.6 metric tons in the fourth quarter of 2024, marking a nearly fourfold increase from Q1 2024 and a 53% rise from Q3 2024, according to a new report from Zuanic & Associates. The surge is primarily attributed to changes in Germany’s Narcotics Law, implemented on April 1, 2024, which facilitated greater access to medical cannabis. “Changes in the Narcotics Law…explain the jump in demand,” the report states, emphasizing how the revised regulations spurred higher import volumes. Canada And Portugal Lead, But Competition Heats Up Germany’s booming demand was met primarily by Canada and Portugal, which accounted for most of the absolute import growth between Q3 and Q4 2024. Canada remained the dominant supplier, responsible for 43% of imports in Q4, while Portugal secured 29% of the market. Also read: Switzerland Moves To Legalize Recreational Cannabis Under Strict Government Control Despite Canada’s lead, its market share declined significantly over the year. “The drop in Canadian share in 2H is notable,” Zuanic & Associates reported, pointing to a ...Full story available on Benzinga.com

Stifel initiated coverage on Compass Pathways plc (NASDAQ:CMPS), saying, “The Time Is Now for Psychedelics.” Compass is a clinical-stage biotechnology company focused on developing psychedelics-based drugs for neuropsychiatric disorders. The analyst equates COMP360 to Spravato 2.0. Johnson & Johnson’s (NYSE:JNJ) Spravato (esketamine) is a nasal spray for TRD and major depressive disorder (MDD), selling over ~$1 billion annually. Also Read: COMPASS Pathways: Institutional Pressure Amid $43M Market Cap Decline, What’s Next For This Psychedelics Co? Stifel writes, “commercial success of Spravato offers major validation that the intermittent psychedelic treatment model for depression is scalable.” Stifel has initiated with a Buy rating and a price target of $11. Analyst Paul Matteis expects the company to be well positioned over the next ~18 months to derisk COMP360 (psilocybin) ...Full story available on Benzinga.com

The Garden State’s cannabis industry will take center stage at the upcoming Benzinga Cannabis Market Spotlight on March 4, 2025, at the Delta Hotels by Marriott in Somerset. This event aims to delve into New Jersey‘s burgeoning cannabis market, offering insights into retail opportunities, supply chain logistics, and regulatory frameworks. A Brief History of Cannabis Legalization in New Jersey New Jersey’s journey with cannabis reform began in 2010 when the state legalized medical marijuana through legislative action. A significant milestone was achieved on Feb. 22, 2021, when Governor Phil Murphy signed the New Jersey Cannabis Regulatory, Enforcement Assistance, and Marketplace Modernization Act into law, legalizing cannabis use and possession for adults aged 21 and over. This move followed a 2020 ballot referendum where ...Full story available on Benzinga.com

On Thursday, Cronos Group Inc (NASDAQ:CRON) reported fourth-quarter sales of $30.3 million, up from $23.92 million, missing the consensus of $34.95 million. The increase year-over-year was primarily driven by higher cannabis flower and extract sales in the Canadian market and higher cannabis flower sales in Israel and other countries. Cronos GrowCo contributed $2.1 million of cannabis flower sales in Q4 2024. The cannabinoid company reported earnings of 11 cents compared to a loss of 19 cents. Also Next: Cronos CEO Mike Gorenstein Says He’s Optimistic About ...Full story available on Benzinga.com

– Co-authored by Paul Schmeltzer In November of 2024, STIIIZY suffered a data breach that exposed the personal information of approximately 380,000 customers. The breach, attributed to the Everest cybercrime group, affected multiple locations and was traced to a compromise within one of the company's point-of-sale processing vendors. Aside from the additional data cannabis retailers are required to collect, this attack and its impacted data (names, addresses, dates of birth, driver's license numbers, passport numbers, photographs, signatures from government-issued IDs, medical cannabis card details, and transaction histories) was not necessarily unique in retailer data breaches. But, within the cannabis industry, the incident underscored not only the vulnerabilities within STIIIZY's particular digital infrastructure but also the broader risks facing the cannabis industry. The cannabis industry, despite its rapid expansion, remains particularly vulnerable to cyberattacks due to a combination of regulatory burdens, fragmented financial infrastructure, and limited access to mainstream banking services. One of the major challenges cannabis retailers face is securing financial transactions. A popular method has been the use of "cashless ATMs," which disguise cannabis purchases as ATM withdrawals. While this workaround has enabled cannabis businesses to operate within the constraints of the financial system, it has also led to increased scrutiny from regulators and financial institutions. This scrutiny and concern limits vendors willing to take the risks to process financial transactions associated with cannabis. Those that do take risks may not have the developed, tried, and tested cybersecurity protections of other financial transaction processing vendors. With payment processing already a fragile part of cannabis retail operations, a breach involving a point-of-sale provider, such as in the case of STIIIZY, exposes not just customer data but also systemic vulnerabilities in how the industry handles financial transactions and may potentially make the processing of such transactions even more difficult in the future. Third-party vendors in cannabis retail are not limited to financial transactions. Because of the numerous, complicated, and fragmented regulations facing cannabis retailers across different jurisdictions, third-party vendors are critical to satisfying all the necessary requirements at a competitive price. They, for instance, operate external platforms for compliance tracking, seed-to-sale inventory management, ...Full story available on Benzinga.com

Stocks in the cannabis sector notched notable gains on Thursday, according to Benzinga Pro data, with Cronos Group (NASDAQ:CRON) up 3.82%, Verano Holdings (OTC:VRNOF) up 1.11%, Trulieve (OTC:TCNNF) up 3.37% and Green Thumb Industries (OTC:GTBIF) up 2.08%, following their respective earnings reports. Below is a closer look at each company's recently released results. Cronos Group Cronos reported fourth-quarter revenue of $30.3 million, marking a 26.7% increase year-over-year, driven largely by higher cannabis flower and extract sales in Canada and select international markets. The company highlighted growth in the Canadian edibles segment, particularly with its SOURZ by Spinach brand, which continues to perform well. Cronos also noted cost-optimization initiatives and a significant improvement in gross margin—rising from 8% to 36% in Q4, reflecting increased operational efficiency. Additionally, the company reported net income of $43.9 million in the ...Full story available on Benzinga.com

Trulieve Cannabis Corp (OTCQX:TCNNF) reported financial results for the fourth quarter before the market open on Thursday. Here’s a rundown of the report. Q4 Earnings: Trulieve reported fourth-quarter revenue of $301 million, beating analyst estimates of $292.64 million, according to Benzinga Pro. The cannabis company reported fourth-quarter adjusted earnings of 2 cents per share, beating estimates for a loss of 26 cents per share. Total revenue was up 5% on a year-over-year basis, with 95% of revenue coming from retail sales. The company generated $31 million ...Full story available on Benzinga.com

The cannabis scene in New Jersey is heating up, and Benzinga is right at the center of the action. On March 4, 2025, the Cannabis Market Spotlight: New Jersey lands at Delta Hotels by Marriott in Somerset, NJ, gathering a powerhouse lineup of investors, regulators and entrepreneurs ready to dissect the market's next big moves. This event arrives at a crucial moment for New Jersey's cannabis sector. With expanding retail opportunities, ongoing regulatory developments and growing consumer demand, operators must navigate an evolving landscape to stay ahead. Benzinga's conference promises attendees a deep dive into the current challenges and opportunities shaping the state's market, featuring some of the most influential voices in the industry. Why This Event Matters Now New Jersey's cannabis industry has been a magnet for investment since its adult-use legalization. Yet, the road to profitability remains complex, with supply chain hurdles, shifting regulations and competition from the illicit market. This one-day event ...Full story available on Benzinga.com

Pennsylvania is edging closer to full cannabis legalization, with key lawmakers, state officials and Governor Josh Shapiro all signaling readiness for reform. The renewed push includes a bipartisan effort in the legislature, as well as a public campaign by U.S. Senator John Fetterman (D-PA), who is rallying national support for federal legalization. Fetterman's Petition And National Push Fetterman, a long-time proponent of cannabis reform, has launched an official petition urging federal legalization. His campaign is emphasizing the broad support for the policy and calling for congressional action. In an email blast, his team stated that he is "proud to be fighting for legal weed." The senator has remained outspoken on the issue, saying, "I might be in the Senate, but now we're still struggling and dicking around and we should ...Full story available on Benzinga.com

By Hernán Panessi via El Planteo, adapted for Benzinga "It fills me with pride to see so many women playing key roles throughout the production chain, from agricultural cultivation to the commercialization of finished products," says María José Rey, CEO of Hempar Group for the Cannashop franchise. This Paraguayan company is dedicated to making industrial cannabis products more accessible to consumers. Under Rey's leadership, Cannashop has become the first franchise specializing in finished industrial cannabis products in Paraguay—and all of South America. Founded in 2022, Cannashop set out with a clear mission: to improve quality of life in multiple ways. From the start, they have not only provided cannabis-derived products to consumers but also pioneered a franchise model that is both innovative and fully regulated—standing out for its exclusive focus on industrial cannabis goods. Cannashop: Innovating And Expanding Paraguay's Cannabis Market Through a diverse range of superfoods and CBD products, Cannashop has been carving out a space for itself within Paraguay's industrial ...Full story available on Benzinga.com

U.S. President Donald Trump announced last week that he has appointed Alice Marie Johnson, a Tennessee woman whose drug-related life sentence he commuted in 2018, as his “pardon czar.” The move comes as Trump simultaneously calls for the death penalty for drug dealers, creating a striking contrast in his approach to criminal justice. A Redemption Story Turned Policy Role Alice Johnson, a Tennessee grandmother and first-time nonviolent offender, spent more than two decades in prison before being granted clemency by Trump in 2018, following high-profile advocacy from Kim Kardashian. In 2020, she received a full pardon, and since then, she has been an outspoken advocate for criminal justice reform. Trump made the announcement at a Black History Month reception at the White House, roughly four weeks after he returned to office. He stated that Johnson would advise him on cases where pardons were warranted. Trump praised Johnson's transformation, saying, “Alice was in prison for doing something that today probably wouldn’t even be prosecuted.” A Hardline Stance On Drug Crimes And Unclear Cannabis Policy While Trump is elevating a former drug convict to oversee pardons, he is simultaneously ...Full story available on Benzinga.com

Enveric Biosciences (NASDAQ:ENVB) has secured its first U.S. patent for the EVM401 Series, a novel collection of non-hallucinogenic, mescaline-derived compounds. These compounds are designed to address addiction, ADHD anxiety, and other neuropsychiatric disorders, potentially offering new therapeutic avenues for patients who have limited options. What Happened Issued on January 14, 2025, the patent titled "Cl-Substituted Isopropylamine Fused Heterocyclic Mescaline Derivatives" covers compounds that uniquely modulate critical brain receptors associated with mental health conditions. Specifically, these molecules target the alpha-2A adrenergic receptor (ADRA2A), the serotonin 5-HT2C receptor and the dopamine transporter (DAT) – all of which play pivotal roles in neurological functions and therapeutic potential. Speaking exclusively to Benzinga, Dr. Joseph Tucker, CEO of Enveric Biosciences, said, "With the issuance of this patent, we are ...Full story available on Benzinga.com