🧾Minnesota's OCM awards first license to Cultivator
Aurora Cannabis calls out Investing.com articles for misinformation on M&A and partnership. Alpine IQ acquires Terpli. High Times assets purchased by Founder of RAW®. Curaleaf's new President.
🌿 Industry
Minnesota’s legal market finally gets rolling as first license is issued. Minnesota's OCM granted the license to Herb Quest, LLC, a microbusiness. — CBS News
According to state data, more than 1,854 microbusinesses had applied for a license as of June 18. Of those, 667 had been "preliminarily approved"
The Top 100 U.S. Pre-Roll Brands of 2025. $3.1 billion. 316.8M units sold. Nearly 3,000 brands vying for dominance. — Custom Cones USA
In partnership with Headset, whose data is sourced from actual consumer transactions across over 3,500 retailers in 12 U.S. state markets and 4 Canadian provinces, Custom Cones USA has identified the Top 100 Pre-Roll Brands in the American market using total pre-roll sales data to highlight the top-selling brands in the U.S. cannabis Pre-Roll segment
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. Texas Gov. Greg Abbott (R) said on Monday that he has hundreds of bills to review and he “hasn’t gotten to” the cannabis legislation yet. — Marijuana Moment
“I will give all of those pieces of legislation the consideration and time that they deserve,” the governor said at the time, while sitting beside one of the measure’s most vocal supporters, Lt. Gov. Dan Patrick (R)
The governor has three options for the proposal: sign it, veto it or allow it to take effect without his signature. The deadline for his decision is this Sunday, June 22
The Texas Hemp Business Council (THBC) announced June 18 that its petition to stop the controversial hemp ban has reached 147,979 signatures
San Diego City Council committee unanimously backed a proposal to extend opening hours for dispensaries. The longer opening hours are now just one step away from becoming law — depending on whether the city council approves the proposal this summer. — Times of San Diego
The proposal would extend cannabis dispensaries’ permitted opening times by two hours, from 6 a.m. to 10 p.m. — the same hours of operation allowed in many of San Diego’s neighboring cities and the maximum permitted under state law
Currently, San Diego law regulates dispensaries more tightly, allowing them to stay open between 7 a.m. and 9 p.m. only
May Michigan Cannabis sales totaled $272.6M, up ~1% from $270M in April. But when compared to May 2024, sales were down 2.5%.
💵 Deals
Alpine IQ acquires Terpli, enhancing loyalty, e-commerce, and app shopping solutions for cannabis retailers. By bringing Terpli into its suite, Alpine IQ is fusing its industry-leading loyalty, segmentation, and campaign technology with real-time personalization tools proven to drive results. According to a recent case study, customers engaging with Terpli’s AI saw a 119% increase in customer lifetime value (CLTV). The entire Terpli team has joined Alpine IQ and will continue to drive innovation and provide partner support from within the unified organization.
High Times assets purchased for $3.5M by Josh Kesselman, Founder of RAW® Rolling Papers. Alongside partner and former 2000s-era High Times co-owner Matt Stang, Kesselman has acquired the rights to the magazine, Cannabis Cups and their associated assets in an all-cash transaction. High Times will soon be relaunched as a comprehensive platform serving as a hub for information and connection, mixing legacy with modern relevance.
Vireo Growth Provides Corporate Update After Closing All Merger Transactions. The Company expects pro forma revenue and adjusted EBITDA for Q2 2025 to be $88–$91M, and $23–$24M, respectively. The Company’s pro forma financial performance expectations for Q2 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 uncertainty of timing and impact of certain non-cash expenses and other accounting adjustments during its quarterly close process. The Company believes its improved profitability profile is likely to help secure more favorable terms as it seeks to refinance its outstanding debt obligations. The Company now anticipates a refinancing event will close expeditiously, and that it will have a cash position of $100M+ once completed.
📄 Company Updates
Aurora Cannabis Advises of Second False Article from Investing.com. On June 18, 2025, Aurora advised the market that an article posted on Investing.com incorrectly stated that Aurora had agreed to acquire New Zealand-based MedLeaf Therapeutics. Later in the day on June 18, 2025, a second article was posted on Investing.com that incorrectly states that Aurora has entered into a strategic partnership with MediPharm GmbH for distribution of medical cannabis in Germany and other EU markets. The Company categorically denies both Investing.com articles. Aurora has not entered into any such agreements, has had no discussions with MedLeaf Therapeutics or MediPharm GmbH with respect to any business combination transaction or strategic partnership, and has not made any statements or filed any information pertaining to any such transactions. This follows an article from the previous day saying Aurora has agreed to acquire New Zealand based MedLeaf Therapeutics.
Nabis expands to Rochester, NY with new distribution hub. The 30,000 sq ft site is one of two New York locations for Nabis and 7th warehouse nationwide.
Verano x Grow Sciences in Illinois. Grow Sciences’ products—flower eighths, joints and live hash rosin cartridges, followed by hash rosin extracts and rosin fruit chews - will be available at all ten Zen Leaf dispensaries in Illinois, followed by additional third-party dispensaries thereafter.
Tilray Brands' Stockholders Approve Reverse Stock Split; Company Pauses Implementation as It Evaluates Timing and Stock Price. Upon implementation of the Reverse Stock Split, the Company believes it would be well positioned for strategic opportunities and acquisitions given its strong balance sheet.
NuggMD Now Serves All Eligible Medical Cannabis Patients Nationwide via Secure Telehealth Platform. NuggMD now serves patients in over 25 states, offering HIPAA-compliant virtual consultations with licensed medical professionals.
AYR Provides Update on Delay of Q1 2025 Interim Financial Filings. As previously disclosed, the delay in filing the Interim Filings is primarily due to the Company’s ongoing negotiations with its creditors and the continued assessment of the appropriate accounting classifications of certain debt obligations currently under negotiation with a committee of its senior lenders. These negotiations are part of a broader strategic review process, as the Company evaluates capital structure alternatives and other strategic options to address its upcoming payment obligations and to support the execution of its long-term strategic plan.
🏬 Retail / Lounge
Sunset Social Club Opens as West Hollywood’s First Luxury Cannabis Lounge for Members Only. Located directly across from Chateau Marmont, this 5,500-square-foot members-only venue combines the prestige of a private club with curated access to California’s most sought-after cannabis brands and hospitality experiences. Membership is $420/month and includes far more than lounge access:
Monthly Perk Credit: Each member receives an equivalent monthly value in a curated mix of cannabis products, food and beverage offerings, and exclusive merchandise only available on-site. These benefits do not roll over, encouraging regular visits and engagement with new partner offerings
Cannabis mixology bar with infused cocktails
Gourmet small bites prepared by a Michelin-trained chef
A full specialty coffee program curated by Be Bright Coffee, with founder Frank La personally training the staff and overseeing beverage development
VIP access to exclusive events, private performances, and brand activations
Discounts at iconic L.A. restaurants and nightlife venues
Priority access to private Chinese Theater screenings
C3 Industries opens third Connecticut dispensary in Stratford. C3 Industries has 29 dispensaries nationwide.
Terrabis opens 5th Illinois Dispensary in Mundelein. Over the past eight months, Terrabis has opened three new locations in Illinois. The Mundelein location will bring the Terrabis network to nine dispensaries across Illinois and Missouri.
Vext Opens Fifth Ohio Dispensary in Portsmouth. Located in southern Ohio along the Ohio River, the Dispensary marks the Company's fifth retail location in the state, advancing Vext toward the state dispensary license cap of eight.
🌱 Product
BLAZE Introduces BLAZEPAY ACH with Scan-to-Pay Technology. In-store, customers simply scan a QR code, link their bank account, and complete the payment in a single tap—no app downloads, card swipes, or PIN pads needed. Online, BLAZEPAY ACH is fully integrated with BLAZE ECOM, supporting embedded checkout payments for a consistent and convenient e-commerce experience. Prepayments using BLAZEPAY ACH have been shown to increase average order value (AOV) by up to 40% and reduce order abandonment by as much as 30%. The solution also includes chargeback protection through clear merchant descriptors and deferred fund capture, helping dispensaries reduce risk and avoid losses when customers add or change items during pickup.
Grön x Head Change Debut Exclusive Solventless Edibles in Missouri. Born from a shared commitment to clean extraction and bold expression, the collection infuses Head Change’s award-winning live rosin into Grön’s signature Pearls and MEGAs, delivering a high-integrity, high-impact edible made for real cannabis enthusiasts.
Barney's Farm x B-Real Launch Legacy Genetics Collab. This collaboration has been three decades in the making. Derry Brett and B-Real first crossed paths in Amsterdam's coffee shop circuit in the early '90s. What began as a friendship rooted in a shared love for the plant now combines global influence with underground credibility. The debut strain, Insane OG is inspired by B-Real's notorious 1998 anthem "Dr. Greenthumb," Insane OG pays tribute to a counterculture built on resistance and dedication to the craft.
True Terpenes Unveils Modifiers. Launching with three dynamic variants — Ice, Sweet, and Skunk — Modifiers allow producers to fine-tune flavor or create a dynamic sensory experience while maintaining the original strain’s identity. Added to infused pre-rolls or integrated into vape formulations, the products are engineered to expand product portfolios with efficiency and elegance.
The Cannabist Company x COAST Cannabis Co. Edibles in Maryland. Made with organic ingredients and free from artificial additives or unnecessary sugar coatings, COAST's gummies deliver a consistent, enjoyable experience. The launch showcases COAST’s award-winning ratio gummies, expertly formulated to offer a variety of effects with varying cannabinoid ratios and a range of fruit-forward flavors. From the energizing Raspberry Lime enhanced with THCv to the restorative Sleep Suite powered by CBN and bursting with bold flavors like Blueberry, Cranberry Pomegranate, and Grape.
Goldflower Cannabis x Lion Order in Florida. Created with superstars such as Ray Lewis of the Ravens, Mike James of the Bucs and Lions, Rohan Marley, and Michael Phelps, the brand's launch coincided with the Grand Opening of Goldflower Cannabis's Miami location on June 14th. The store also honors Lion Order's South Florida legacy by featuring the state's largest selection of the brand's offerings as well as forthcoming custom art and murals that will make the Goldflower Miami location the spiritual home of Lion Order in Florida. The new partnership reflects a shared commitment to wellness, cultural authenticity, and community empowerment. As a brand, Lion Order draws from the spirit of Rastafari and the legacy of Bob Marley to promote strength, peace, and consciousness through every product.
FLUENT Launches Wandr™ Brand and Live Rosin Edibles in New York. Wandr Live Rosin Chews are vegan, free of artificial dyes and crafted using solventless live rosin to retain the full spectrum of cannabinoids and terpenes. Offered in a range of bold sweet and sour flavors, these chews mark Wandr’s entry into the fast-growing live rosin edibles category. The initial launch features 10mg of THC per chew with additional formulations designed for enhanced effects coming soon.
ayrloom releases new infused rosé cider. ayrloom has several cannabis-infused ciders and beverages, and the new rosé cider boasts a semi-sweet flavor with a floaty and feel-good finish.
🧔 People
Curaleaf appoint Rahul Pinto President. Pinto brings over 20 years of U.S. and international executive leadership in global consumer packaged goods (CPG) and retail, and has led major business transformations at food and beverage industry giants including Albertsons, PepsiCo, and Bacardi. Most recently, he spearheaded Albertsons' evolution into a tech-enabled, loyalty-driven retailer, overseeing strategic planning for Kroger's acquisition attempt.
Green Check appoint Todd Lasher as Chief Growth Officer. Previously, Lasher served as Chief Operating Officer at Webscale Networks and as SVP of Business Development & Strategic Partners at FIS.
🎙️ Interviews
Hemp Disruption, State Battles, Texas Policy, NY Moves, PA Legalization & the Boies SCOTUS Play | TDR
How Old Pal built a cannabis brand rooted in community | MJBiz
Storytelling Is the Future of Cannabis IR ft Jesse Redmond | The Dime
Cannabis at a Crossroads: Where We Go from Here | High Spirits