🧑🌾 Over 300 arrested in ICE raids at Glass House Farms
Flowhub launches POS-Native eCommerce Solution. Golden Bear Awards. TerrAscend $79M Debt Financing. Curaleaf Buys Out Minority Partner in Curaleaf International. Canopy Growth terminates CFO.
🌿 Industry
Immigration raid at two Glass House Farms cultivations in Ventura County. 300+ suspected undocumented immigrants were also taken into custody. — LA Times
Videos shared on social media showed nearly a dozen agents using less-lethal ammunition on a crowd in Camarillo, CA. Meanwhile, 35 miles up the coast in Carpinteria, CA, federal agents entered another site
Ten minors without documentation were found at the farm during the raid, eight of whom were unaccompanied, U.S. Customs and Border Protection Commissioner Rodney Scott said in a statement on X. The facility is now under investigation for child labor violations
Jaime Alanis, a 57-year-old farmworker, died Saturday from injuries sustained after falling 30 feet from a greenhouse roof during the ICE raid
California Cannabis Awards Golden Bear Awards Winners. The Awards uses a two-tiered judging process, with flower tested by SC Lab to determine medalists and all products judged by Budist critics. — GreenState
Sun Grown: Emerald Spirit Botanicals Pink Boost Goddess
Mixed Light: Ridgeline Farms Blueberry Caviar
Indoor: Cam Super Silver Haze
Pre-Roll: Sonoma Hills Farm Pink Jesus Hash Hole
Concentrates: Ay Papi x Mattole Valley Sungrown x Canyon Creek Family Farms x My Green Network Sour Z Live Rosin Dual Consistency
Cartridge: Casa Flor x Holy Water Live Resin Disposable Pens Agua Fresca
Edibles: Ay Papi x Huckleberry Hill Farms x My Green Network Whitethorn Rose Single Origin Live Rosin Infused Gummies
Beverages: Almora Whitetorn Rose Pomberry Lemonade
Wellness: Papa & Barkley P&B Sleep CBD/THC/CBN
DEA Provides No Cannabis Rescheduling Update After 180 Days. The Drug Enforcement Administration still has yet to fix a briefing schedule for an interlocutory appeal as Trump’s nominee awaits Senate confirmation. — CBT
The July 7 update was identical to the first update submitted three months ago, as Derek S. Maltz, the DEA’s acting administrator from Jan. 21 until early May, when he stepped down, had failed to set a briefing schedule. So too has his replacement, Robert Murphy
With the administrative law judge hearing now at a six-month standstill, it appears unlikely that a briefing schedule will be “fixed” to move the process forward until Cole is officially confirmed. Still, many believe cannabis rescheduling comes down to one person: the President
THC potency inflated in most Colorado marijuana flower, study shows. Researchers analyzed 277 samples from 52 dispensaries. — MJBizDaily
Most marijuana products in Colorado are mislabeled, with actual THC potency “significantly lower” than the verified lab results
A product was considered “accurately labeled” if tests yielded THC potency within 15% of what was listed on the product label
While 96% of concentrates met the “accurately labeled” requirement, actual THC potency overall were “significantly lower than labeled potency” across the board
Most cannabis flower was overreported by 5.2, meaning a cannabis flower product was advertised as 22% when it actually tested in the high teens
Testing lab says it's suing MA Cannabis Commission over shutdown order. Assured Testing Laboratories cast says a CCC rule was "so unclear" it had to be rewritten this spring. — wbur
Assured CEO and founder Dimitrios Pelekoudas says it is a simple disagreement about how data was being reported
Regulators at the CCC have zeroed in on issues in the testing space over the last several months, at the same time that a bill to entirely restructure the CCC has picked up momentum on Beacon Hill following complaints about the agency's regulatory work and more
💵 Deals
TerrAscend Completes $79M Debt Financing. TerrAscend has closed on an upsize to its senior secured syndicated term loan of $79M, $68M of which were used to retire existing indebtedness across other lenders, with the remainder designated for future growth initiatives. As part of the Transaction, an additional uncommitted term loan facility in an aggregate principal amount of up to $35M will be available for future M&A. The Loan, led by FocusGrowth carries an interest rate of 12.75%, and matures in August 2028. It contains no prepayment penalties, and is guaranteed by the Company. No warrants were issued as part of the Loan.
Curaleaf Buys Out Minority Partner in Curaleaf International. Curaleaf has acquired the equity stake in Curaleaf International previously held by a single strategic institutional investor. The transaction brings the Company's stake in its European holding company to 100%. The transaction represents the completion of a Put/Call Option that was agreed with the strategic investor at the time of its participation in Curaleaf's original investment into Europe in 2021. Following the pricing mechanism incorporated in the Put/Call Option, the investor elected to receive the purchase entirely in Curaleaf Subordinate Voting Shares.
Vireo Retires November 2024 Convertible Note. Vireo retired its previously outstanding $10M principal amount convertible note issued on November 1, 2024. Concurrently with the retirement of the November 1, 2024 convertible note, on July 7, 2025, the Company issued a new $10M principal amount convertible note pursuant to a private placement transaction under a loan and security agreement related to its recently-announced refinancing initiatives.
📄 Company Updates
Cookies owes $8.4M to partner on SF dispensary. The significant payout due to the Cole Ashbury Group – Cookies’ former partner at the Berner’s on Haight store that closed last year after opening in December 2019 – is the result of a “put option” baked into the two parties’ licensing agreement, according to an earlier arbitration ruling upheld on June 30. That option could be activated if Cole Ashbury Group maintained its license to use Cookies’ branding and iconic strains for 42 months, according to the agreement. Cole Ashbury Group exercised that option on May 22, 2023, but Cookies refused to pay, leading to an October 2024 arbitration hearing.
🏬 Retail
Cookies opens first D.C. dispensary. Cookies D.C. owner and CEO James Kahn—one of the founders of the family-run Takoma Wellness Center, D.C.’s longest-running medical cannabis dispensary— partnered with Alternative Solutions (AtlSol) to bring Cookies to the District. AltSol is a craft cannabis cultivator.
FLUENT opens first Adult-Use Dispensary in New York. In addition to Kingston, FLUENT’s remaining three New York dispensaries are actively undergoing rebranding and will officially debut as FLUENT locations once local approvals are secured.
🌱 Product
Flowhub Launches POS-Native Ecommerce Solution to Power Online Cannabis Retail Growth. Natively built into Flowhub POS, the platform now unifies online and in-store operations, providing real-time inventory accuracy, synced pricing, discounts, and custom-branded ecommerce menus with no third-party tools required. Data from over $1.5M in early-access Flowhub Ecommerce sales shows average order values are up to +27% higher compared to previous platforms.
Frontier Risk Launches First On-Premise Insurance Program for THC Beverages. Low-dose THC beverages are quickly becoming a popular alcohol alternative, yet most general and liquor liability policies do not address the unique exposures associated with their on-premise service. From bars and restaurants to stadiums and festivals, hospitality businesses have been unable to find adequate coverage—until now. The company offers two coverage options: Annual On-Premise Policy – For year-round establishments such as restaurants, bars, hotels, stadiums, and arenas incorporating hemp-derived THC beverages into their regular service and Live-Event Policy – Designed for one-off or short-term activations, including concerts, festivals, sporting events, conferences, and pop-ups, where THC beverages are sold or sampled.
🧔 People
Canopy Growth terminates CFO without cause. In an SEC filing, the Company said Hong has been terminated, effective immediately. Canopy Growth noted the move is “not related to the company’s financial or operating results or to any disagreements or concerns regarding the company’s financial or reporting practices.” The company has appointed Tom Stewart, previously VP Finance, to serve as interim CFO.
BrewDog co-founder plans cannabis market dominance in new venture. One of the founders of BrewDog is targeting domestic dominance with a new business, planning to invest £20m into his new medical cannabis company. Martin Dickie, who founded the alcohol and bars firm with James Watt nearly 20 years ago, now runs Waterside Pharmaceuticals. The first harvest, from a farm near Newburgh, Aberdeenshire, is expected to yield up to 9kg of medical cannabis—but plans are to expand that to 200kg this year, with ambitions to continually scale-up and grow the business to become the UK market leader in medical cannabis.
🎙️ Interviews
New York is Rising Starring Jeff Schultz | Higher Exchanges
Can California cannabis be saved? | High Spirits
TheraTrue CEO Chris Ras outlines the company’s focus in Ohio and Georgia | CBT
the industry is nutty! https://substack.com/@thechroniclesofmaryjane
like many in the cannabis space, glasshouse has a long history of sane-washing trump and the gop. (anyone remember the excitement around trump's florida vote, or the nancy mace publicity stunt?)
let's see if this makes any difference to at least one company.