🏪 Circle K to sell Hemp THC Beverages Nationwide in 2026
Curaleaf sues New Jersey over LPA. Omnium Health (NY) stands to lose its business permits. Curio Wellness acquires four dispensaries in Missouri from Greenlight. Raw Garden acquires California Love.
🌿 Industry
Circle K to sell hemp THC beverages nationwide in 2026. The roadside retailer and convenience store chain plans to start selling hemp-derived THC beverages in as many as 3,000 stores nationwide sometime next year. — MJBizDaily
It’s the latest and most ambitious step into the cannabis space for Circle K, which made a limited incursion into hemp drinks earlier this year in Georgia
After launching the Iverson drinks in the Carolinas and Florida, Circle K plans to expand hemp beverages “across Circle K’s U.S. store network in states where THC products are authorized for sale” sometime in 2026
New York Regulators punish Distributor for Inversion Scheme. Omnium Health stands to lose its business permits, is facing seven-figure fines, will have to facilitate an enormous product recall, and could be permanently banned from participating in the legal cannabis market. — Crain’s
The enforcement follows the April quarantine of $10M worth of vaporizers, pre-rolls and other products from brands including STIIIZY, Mfused and Grön
The investigation concluded that Omnium had been renting out space at its own facilities to unlicensed companies, and then distributing goods from those companies through its own legal dispensary networks in New York
Curaleaf sues New Jersey to avoid ‘death penalty.’ Curaleaf sued New Jersey cannabis regulators seeking to overturn labor-friendly licensing requirements as well as punishment the company claims is “the commercial equivalent of the death penalty.” — MJBizDaily
According to its suit, Curaleaf had a Labor Peace Agreements (LPA) with the United Food and Commercial Workers (UFCW) Local 360 that expired in April after the union and the company couldn’t agree on a renewal
The lawsuit alleges that LPAs violate the federal National Labor Relations Act (NLRA). It seeks a judge’s declaration that New Jersey’s LPA requirement violates federal law and cannot be enforced and that regulators can’t punish Curaleaf for not abiding by it
Alcohol Industry Steps Up Lobbying On Hemp Drinks. A wide range of cannabis and alcohol interests put dollars toward various legislative issues (banking, rescheduling, legalization and hemp regulations) — Marijuana Moment
While it’s not unusual for alcohol interests to be among those disclosing lobbying around cannabis legislation, this latest quarter saw major brands such as Bacardi North America and Moet Hennessy USA join the action
Minnesota cannabis dispensaries struggle to stock shelves as supply chain lags behind. Right now, there are two cultivators licensed, with plants that are growing but are not yet mature, to sell cannabis flower to dispensaries. — CBS News
Minnesota also has tribal compacts with three tribes — which could grow and sell earlier without a state license because they are sovereign nations — but there are tribal dispensaries on and off reservations that need supply, too. There isn’t enough growing to also support everyone else
In addition to the two licensed cultivator businesses, 24 others have preliminary approval, which means they are finalizing the necessary paperwork to get the official OK. He also noted that 13 of the 52 microbusinesses licensed have a cultivation endorsement and medical cannabis companies can wholesale if they choose to, which could also boost product supply
Eric Taubel, OCM Director, estimated that Minnesota needs 1.5M sq ft of cannabis canopy to meet the demand in Minnesota. The state has a fraction of that so far
Minnesota signs cannabis agreement with third tribal nation. The Prairie Island Indian Community has signed a cannabis compact with the state. The agreement recognizes the tribe’s authority to regulate and sell cannabis. — MPR News
The compact signed between the state and Prairie Island Indian Community, which is located about 40 miles southeast of the Twin Cities, is similar to previous agreements signed with other tribal nations in Minnesota
The agreement limits the number of off-reservation retail dispensaries the Prairie Island Indian Community can open to eight and sets a limit on indoor cultivation to no more than 30,000 sq ft canopy outside tribally regulated land
Michigan cannabis sales plunge 11.3% M/M. That’s the largest monthly change in sales since a 13.25% decline from December 2023 to January 2024.
💵 Deals
Curio Wellness to acquire four dispensaries in Missouri from Greenlight. The Greenlight dispensaries are located in Kansas City (2), Harrisonville, and Independence. By integrating four high-performing dispensaries into its Missouri platform, Curio adds immediate scale, strengthens retail capabilities, and creates a broader stage for its innovative products. The transaction is expected to be accretive and deliver shareholder value through operational synergies, supply-chain efficiencies, and increased brand adoption in a large and growing market.
Schwazze to Liquidate Assets, Potentially Restructure as Vireo Subsidiary. Schwazze, has entered into a Restructuring Support Agreement (RSA) with an affiliate of Vireo Growth, which holds a majority of the Company’s outstanding 13% senior secured notes due December 7, 2026, the holders of certain outstanding deferred cash seller notes and certain other parties. The RSA sets forth a plan to restructure the operations and capital structure of the Company and its subsidiaries through a series of transactions, including, but not limited to, the sale of certain assets representing a majority of the total assets of the Company and its subsidiaries to a newly-formed entity (NewCo) to be majority-owned by Vireo, and the liquidation and winding down of the Company’s remaining operations. The transactions contemplated by the RSA are expected to result in the continuation of business as a new company with less debt, improved liquidity and a streamlined asset portfolio.
Curaleaf Upsizes Revolving Credit Facility to $100M With Needham Bank. This expands the borrowing capacity from $40M to $100M and extends the maturity to up to five years. The upsized secured revolving Credit Facility has an initial term of one year and bears interest on any outstanding principal of 7.99%. The facility is subject to extension for up to five years with a rate step up to 8.99% in the event of the Company refinancing the Senior Note Facility due 2026. Curaleaf intends to draw on the Credit Facility to pay a minimum of $50M of its remaining, higher interest-bearing, acquisition related debt while also maintaining ample capacity to support working capital needs.
Raw Garden acquires California Love to Grow Clean Cannabis Movement. Based in Grover Beach, California Love is currently available in more than 130 retailers throughout the state. Going forward, the brand will be subject to the same rigorous standards as Raw Garden and undergo the same third-party testing to ensure consumers of both brands enjoy the same clean quality and attention to detail.
Anresco Laboratories x NJ Labs Merge to Form Nationwide Testing Network. Combining nearly two centuries of proven expertise, Anresco NJ Labs brings together the comprehensive scientific experience of Anresco Laboratories, founded in 1943 and known for its food, beverage, cannabis and hemp testing, with NJ Labs, established in 1936 and recognized for its pharmaceutical, medical devices, dietary supplement, cosmetic, and hemp testing.
Shift Naturals raises funding from Kevin Love. In tandem with Love’s co-ownership, The Angel Group (TAG) has also backed Shift Naturals. The announcement comes as Shift Naturals scales its signature DownShift, DownShift gummies, and SHIFT Cocktails across key markets, with further product launches slated for later this year.
📄 Company Updates
AYR Wellness Launches Flower From its 1st Indoor Cultivation Facility in Florida. The new 97,580-square-foot facility features nearly 50,000 square feet of grow canopy.
🏬 Retail
Port Hueneme could slash one-third of cannabis business permits. Port Hueneme is moving to pull back almost one-third of the cannabis business permits it issued during the city’s short-lived cannabis boom. The Port Hueneme City Council voted unanimously on Oct. 20 to give five cannabis businesses a month to correct violations of their contracts with the city or lose their city permits. City staff say two planned businesses never made it to an opening, while two dispensaries, The Fire Garden and Element 7, owe more than $50,000 each in payments to the city. Another dispensary, the Hueneme Patient Collective, told the city in August it had permanently closed its Port Hueneme location.
Stiiizy opens 48th dispensary in Tracy, CA. Stiiizy applied for its cannabis retail permits in Tracy as Authentic Tracy LLC in 2020, gained its permit in March 2022 after the city revised its rules to allow up to 11 retail storefronts, up from the original four. One of the dispensaries approved was for delivery only.
Planet 13 opens 34th Florida Dispensary in Pace. The dispensary is located along a bustling retail corridor directly across from a Walmart and Lowe’s.
Verano opens 6th Ohio Zen Leaf in Antwerp. Zen Leaf Antwerp is situated less than five miles from the Indiana border and just a 30-minute drive from Fort Wayne, Indiana’s second most populous city with more than 423,000 metro area residents.
🌱 Product
Boulevard Brewing introduces THC-Infused Quirk Seltzers. Boulevard entered the cannabis beverage space with low-calorie, fruit-flavored seltzers containing 5mg of THC per can. This builds on its Quirk hard seltzer line, targeting wellness-focused consumers in legal markets. The company is diversifying beyond traditional beers into NA and THC-infused categories to meet evolving consumer preferences for low/no-alc and functional beverages.
Viola, Allen Iverson Partner With Horticulture Co. to Roll Out IVERSON, a Craft THC Soda, Nationwide. IVERSON will be rolling out nationwide beginning on Oct. 20 at Specs, Total Wine, and Circle K locations, and online at drinkviola.com.
CannaSpyglass Lowers Pricing, Partners with HighDay, and Debuts AI-Enriched Data to Power Smarter Cannabis Growth. The company is rolling out new, lower subscription pricing, unveiling a strategic partnership with HighDay—the cannabis-specific CRM and marketing platform—and delivering upgraded, AI-enriched datasets that raise the bar on accuracy, depth, and speed.
🧔 People
Lüt Appoints Mark Lewis as President of Specialty Payments to Accelerate Growth Across Cannabis, iGaming and Franchise Sectors. The Lüt platform modernizes customer transactions by combining traditional card processing, real-time payments and a secure closed-loop mobile system. Instead of customers worrying about ATM fees and constantly carrying cash, they have the ability to load funds into the Lüt app, complete purchases via QR code and receive weekly cash-back rewards.
Deep Roots Harvest Appoints Jace Goodrow Vice President of Growth. Goodrow will be responsible for driving revenue expansion, deepening customer engagement and advancing the long-term strategic initiatives of Deep Roots Harvest and The Source. Goodrow first entered the cannabis industry in 2018 as a Regional Director for MedMen, where he was promoted to Vice President of Retail. Most recently, he worked as Vice President of Retail for Ayr Wellness.
🎙️ Interviews
How a former Mozilla CMO uses AI to create a new cannabis cocktail brand | BI
Jared Maloof, CEO of Standard Wellness | The Dime
MA CCC, Shannon O’Brien looks ahead | Boston Globe