📉 WM Technology to Delist from Nasdaq
GTI amends brand transactions with RHYTHM. Vireo Growth partners with Ace Ventures in NY. Ethos to Close on 4/20. Texas selects GTI, Cresco Labs for TCUP. MA House passes cannabis reform bill.
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🌿 Industry
Massachusetts House passes cannabis reform bill. Massachusetts House lawmakers unanimously approved a cannabis reform bill that would restructure the oversight commission, regulate hemp, and tackle other hurdles in the industry. — Ganjapreneur
The changes described in the House-Senate compromise proposal include doubling the purchase limit on cannabis flower from 1oz to 2oz, lifting restrictions on the sale of cannabis seeds, and allowing licensed retailers to advertise discounts and customer loyalty programs
The proposal also reduces the Cannabis Control Commission from five commissioners to three, all appointed by the governor, and raises the number of licenses a cannabis operator can hold from three to six
The bill also removes a requirement that medical retailers must produce and manufacture their own products
Cannabis businesses and trade groups sent a letter opposing legislation that would ban drinks containing more than 10 milligrams of THC. A cohort of 11 industry operators and leading trade groups sent a letter on April 7 to members of the California Assembly Committee on Business and Professions, who are scheduled to consider Assembly Bill 2532 on April 14. — CBT
According to the signees, the proposed 10-milligram THC cap would “effectively eliminate” the legal cannabis beverage market, with 93.2% of today’s product sales containing more than that potency limit
Cannabis beverage products containing 100 milligrams of THC account for $66M in annual dispensary sales, or 83.6% of the total category revenue, the signees said. Implementing a 10-milligram cap would leave just $5.4M in annual sales
The idea that low-dose THC beverages aren’t a hit with California cannabis consumers seems to run contrary to conventional wisdom that drinks are a booming product category for the nationwide industry. However, that could be because the target audience for low-dose hemp-derived THC beverages is alcohol consumers looking for an alternative, while regular cannabis consumers—with higher tolerances—are looking for a more potent product, said Hirsh Jain
“Steady state” New York retailers, defined as retailers with more than a year in operation, are averaging $3.95M in annual sales after one year in operation. For all stores, the average annual sales are closer to $2.75M, according to OCM.
Texas selects three new businesses (GTI, Cresco Labs, Texas Medica Collective) for its Texas Compassionate Use Program (TCUP) expansion process. This adds to the nine announced in Phase I in December 2025. Furthermore, 12 other businesses are now on the TCUP license eligibility list for possible future review.
North Carolina Gov. Endorses Adult-Use Cannabis Legalization Plan. The North Carolina Department of Health and Human Services’ Advisory Council on Cannabis called for legalizing adult-use cannabis in an interim report issued last week, and Gov. Josh Stein (D) has endorsed the advisory group’s proposal. - Ganjapreneur
Minnesota cannabis retailers have surpassed $50M in sales since the state’s adult-use market launched last September
4x20: Quick Hits showcases an anthology series of shorts from executive producer Jimmy Kimmel about the history of cannabis culture in America. The series will feature four 20-minute documentary films, each highlighting different historical aspects of how cannabis culture became part of the national conversation.
💵 Deals
Vireo Growth Partners with Ace Ventures to Establish New York’s First Minority-owned Vertically Integrated Medical Cannabis Operator. Under the agreement, Ace will assume a 51% ownership interest in Vireo Health of New York, LLC (Vireo NY), establishing a majority social equity-owned platform supported by Vireo’s longstanding operational expertise, compliance infrastructure, and regulatory experience that Vireo has built in New York since 2014. Vireo NY operates one of the state’s most developed cannabis platforms, with cultivation, manufacturing, and retail infrastructure built over more than a decade of regulated medical operations. Vireo will continue to provide operational support to ensure regulatory compliance, product quality, and operational excellence.
Vireo Growth Closes Acquisition of Eaze, Entering California, Florida Cannabis Markets. Eaze has 67 active retail locations and has completed over 12 million deliveries. Cory Azzalino will step into the CEO role of Vireo’s California business.
📄 Company Updates / Earnings
WM Technology Voluntary Delisting From Nasdaq. Following a thorough review, the Board concluded that delisting the Company’s securities from Nasdaq is in the best interests of the Company, its shareholders, and other stakeholders. The Board’s decision was the result of careful review and consideration of several factors, including, but not limited to, (1) the limitations a Nasdaq listing places on the Company’s operations and strategies for providing services to cannabis end markets, (2) the constraints on the Company’s ability to achieve long-term, sustainable value creation in an evolving industry, (3) the lack of significant liquidity in the Company’s securities due to a lack of comparable companies and limited investor interest and analyst coverage, and (4) the required personnel resources and expenses relating to continued Exchange Act and Nasdaq disclosure and reporting requirements and other regulatory burdens, which have resulted and would continue to result in significant operating expense and attention of the Company’s management team.
GTI Amends Brand Transactions With RHYTHM. GTI Core, an indirect wholly-owned subsidiary of the Company, has amended its existing Trademark and Recipe License Agreements with VCP IP Holdings, LLC and MC Brands LLC, both wholly-owned subsidiaries of RYTHM. Under the amended agreements, licensing fees transition from revenue-based fees to recurring fixed fees of $70 million cash per year collectively for the license rights to RYTHM Premium Cannabis, incredibles, Beboe, Dogwalkers, Doctor Solomon’s, &Shine, and Good Green. Fees are payable in monthly installments and subject to an annual increase equal to two times a Consumer Price Index-based escalator. No other terms were changed.
Grown Rogue Q4 and Full Year 2025 Results. FY2025—Revenue of $32.4M, up 22% from $26.6M in FY2024, with growth driven by the late-2024 entry into the New Jersey market, partly offset by the termination of the Vireo consulting agreement in September of 2024 and substantial pricing pressure that contributed to revenue declines of 22% in Michigan and 8% in Oregon. Adjusted EBITDA of $5.4M (16.5% margin) for 2025, up 42% from $3.8M in 2024, with contributions from New Jersey partly offset by pricing pressure in Michigan and Oregon and higher corporate overhead associated with growth initiatives. $11.4M of cash, secured $12M debt facility at a sub-8% interest rate.
🏬 Retail
Ethos to Close on 4/20 to Honor Cannabis Holiday. Ethos employees in Pennsylvania, Massachusetts, and Ohio will receive a paid day off to spend however they choose. “4/20 started as something simple and personal with friends, flower, and time together. Somewhere along the way, the day got louder. What began as a celebration of the plant is closer today to a retail frenzy, with discounts and doorbusters driving the conversation instead of intention and care. This year, we’re reclaiming 4/20 for what it was always meant to be, a genuine celebration of the plant, the people who love it, and the patients whose lives it changes.” said Ethos CEO Gibran Washington.
🌱 Product
Grön Debuts PIXLZ THC-Infused Gummy Clusters. PIXLZ debuts with three distinct modes, each built on THC and layered with minor cannabinoids, rosin, and a precisely selected terpene profile designed to dial in a specific effect. Whether the moment calls for energy, rest, or something in between, there is a mode for it.
KANHA Taps Creator-Led Model for Peach Paradise Launch with Koala Puffs and Eaze. Peach Paradise is a limited-edition high-CBD gummy developed in partnership with Koala Puffs and Eaze. Engineered for deep relaxation and functional calm, the collaboration represents a sophisticated move to unlock consumer growth by leaning directly into the creator economy. Peach Paradise is available exclusively through Eaze. The partnership will come to life in person through a Koala Puffs meet-and-greet at Eaze's Mid City Los Angeles location on Saturday, April 11.
Sensi Seeds x Death Row Records Exclusive Strains Released in U.S. Sensi Seeds, through its exclusive partnership with Death Row Records, will be bringing five premium cannabis strains to American cultivators following a European launch in Spring 2025. The project, part of Sensi Seeds’ “Breeding Grounds”, represents a unique fusion of legendary cannabis genetics and hip-hop culture. The five exclusive strains – B-Funk, Dough Boy, Studio Candy, Caramel Pineapple, and Cereal Killa – were developed alongside Death Row Records’ head grower AK, combining Sensi Seeds’ four decades of breeding expertise with Death Row’s cultural influence.
🧔 People
Sweed Appoints Brad Cross Chief Revenue Officer. Brad brings more than two decades of experience scaling revenue organizations across the technology sector, with deep expertise in marketing technology, customer data, and SaaS GTM strategy.
🎙️ Interviews
The Army Wants Stoners Now — And Other Cannabis Contradictions | High Rise
Boston Dickerson of Show Me Organics on MO & KY Success | High Spirits
Mr. Sherbinski | MJBizDaily