🍬Wyld to Acquire Grön
Vireo Growth acquires Eaze for $47M. FLUENT divests PA Operations. TerrAscend acquires Union Chill Dispensary (NJ). Organigram advances additional $3M to Phylos.
🌿 Industry
Trump’s embrace of pot has Republicans in Congress fuming. In moving to reduce marijuana regulation, the president has defied the party’s old guard. — POLITICO
Speaker Mike Johnson lobbied Trump directly to hold off on his decision, the Washington Post reported. On the eve of Trump’s announcement, 22 Senate Republicans urged him in a letter not to go ahead with it, citing health issues like addiction linked to the drug’s use and economic consequences
Republican congressional leaders’ open defiance shows Trump’s hold on his party might be waning — and also that they really hate weed
Michigan’s weed gold rush is long gone. Now, the industry is fighting to survive. Michigan’s Cannabis industry is facing an uncertain future. — Crain’s Detroit
Rampant oversupply continues to compress pricing — flower reached historic lows in November — and a new 24% wholesale tax has gone into effect
Whitney Economics projects the wholesale tax will cause a sales decline of 12.5%–13.9%. Similarly, the Michigan Senate Fiscal Agency anticipates a 14.4% decline
That translates to between $400–$450M in sales eliminated from the market at a time when production hasn’t slowed
Higher Love, a Cannabis company with 10 dispensary locations (including cultivation and processing) is laying off 30% of its staff. C3 Industries closed its Webberville plant and laying off 62 workers
San Diego’s 10% cannabis business tax comes up short. Earlier this year, the San Diego City Council voted to increase the city’s cannabis business tax from 8% to 10% to fill a budget hole. Now city finance officials say they likely overestimated how much revenue the tax hike would generate. — KPBS
Receipts from July through September suggest the cannabis business tax is on track to generate $19.7M this fiscal year—$1.5M short of the $21.3M assumed in the budget
Last fiscal year, when the tax rate was still 8%, the cannabis businesses tax generated $16.7M for the city. The tax rate was set at 5% when it was approved by voters in 2016
Mike Tyson, Ric Flair sue Carma HoldCo for $50M for alleged embezzlement scheme. A 76-page lawsuit filed in Illinois on behalf of Tyson and Flair by their lawyers accused former Carma executives — Chad Bronstein, Adam Wilks and Nicole Cosby — of a RICO conspiracy involving criminal wire fraud, embezzlement, money laundering, extortion and securities fraud. — New York Post
“Throughout their time at CARMA, Bronstein and Wilks treated CARMA as their own personal piggy bank, using more than $1 million to pay for unauthorized personal travel on private jets, costs associated with Bronstein’s personal yacht, renovations to Bronstein’s personal residence, a mortgage payment for Wilks’ personal residence, and lavish entertainment expenditures for Wilks, including exorbitantly priced meals and travel expenditures, as well as excessive and unapproved compensation and bonuses”
California Officials Award $30M In Marijuana Revenue To Support Research On THC Drinks, Terpenes And Tribal Cannabis Sales. This marks the third round of grants delivered through the program—which is funded by marijuana tax revenue—raising the total distributions to about $80M. — Marijuana Moment
New York retail cannabis sales have exceeded $2.5 billion since recreational legalization, including $1.6 billion that was generated in 2025 alone as of November. Licensed storefronts nearly doubled from 261 in 2024 to 556 in 2025.
Leafly’s Top 100 Dispensaries of 2025. Leafly used a weighted scoring model that factored in the dispensary’s performance on Leafly, customer satisfaction, and moxie.
Cannabis prices in Massachusetts are sitting at their lowest point. The average price of an eighth slipped to $14.20 in November, down two-thirds from four years ago, when an eighth ran closer to $45.
Falling prices drive Oregon cannabis revenue to 6-year low. Sales fell 3.5% to $925M in 2025, according to data from the Oregon Liquor and Cannabis Commission.
Is 280E tax relief immediate? Your top marijuana rescheduling questions answered. Marijuana rescheduling doesn’t go into effect overnight, and many questions are left unanswered. But MJBizDaily tries to answer some of the industry’s most pressing concerns.
💵 Deals
Wyld to Acquire Grön. This combination of Wyld and Grön brings together two of the cannabis edibles category leaders with shared roots, shared standards, and a long-term vision for building the most trusted and complete edibles offering in the $4.8 Billion edibles marketplace. Wyld is currently available across 16 U.S. states and Canada, and found in ~7,500 retail locations throughout the regulated cannabis market. Grön currently has 75 different products available across 9 U.S. states and Canada and available in ~4500 retail locations. The combined organization will include ~1,400 employees, with ~1,100 team members at Wyld and ~300 at Grön. Grön will continue to be brand-led, with its existing team guiding brand strategy, product innovation, and creative direction.
FLUENT Divests Pennsylvania Cannabis Operations for $12.5M. FLUENT has completed the sale of its Pennsylvania operations to HIVE Holdings Inc., effective Dec. 31, 2025, for US$12.5M in cash. The proceeds from the transaction were used to reduce FLUENT’s outstanding debt, which is expected to meaningfully enhance its balance sheet, allowing the company to further concentrate capital and operational resources on its core growth markets. The company is at arm’s length from HIVE Holdings.
Vireo Growth Enters California and Florida and Strengthens Delivery Platforms with Acquisition of Eaze. Eaze has 65 active retail locations and has completed over 12 million deliveries. Eaze has a robust presence in delivery sales in California with four co-located retail and delivery locations and eight delivery-only locations with coverage in most major metropolitan areas of the state. In Florida, Eaze is currently the sixth largest retailer with 39 active stores and ~64,000 square feet of cultivation canopy with substantial expansion capacity. Finally, the transaction will expand Vireo’s retail presence in Colorado with 14 additional dispensaries, increasing its total Colorado footprint to 55 stores. Upon closing, Vireo’s portfolio of cannabis brands and assets will span 10 total states, with 166 active retail dispensaries and ~800,000 sq. ft. of operational cannabis cultivation and production.
Total consideration in the transaction includes ~$47.0M in base consideration, payable through the issuance of approximately 84M subordinate voting shares of the Company at closing at a deemed issue price per share of $0.56. Eaze may be entitled to earn-out consideration as of December 31, 2026, calculated as 3.84x adjusted EBITDA, less the closing consideration and adjusted for incremental debt, with any such earn-out payable in subordinate voting shares of the Company at a deemed price equal to the higher of $1.05 and the 20-day volume-weighted average price as of December 31, 2026, subject to the Exchange’s pricing policies.
TerrAscend Acquires New Jersey’s Union Chill Dispensary. The transaction expands TerrAscend’s retail footprint to four dispensaries in New Jersey. In May 2025, TerrAscend signed an agreement with Union Chill for total consideration of $13M, consisting of $9M in the form of convertible notes bearing interest at 6.5% for an option to purchase 35% of Union Chill and $4M in cash upon the exercise of the option. The transaction conforms to New Jersey’s regulatory framework, which facilitates investment opportunities for diversely owned businesses. The transaction will allow the company to fully consolidate the business in its financial results and increase TerrAscend’s consolidated retail footprint to a total of 20 dispensaries across five U.S. states and Canada.
Organigram Extends Innovation Investment with Phylos. Through an amended loan and product agreement, Organigram gains priority access to Phylos’ autoflower genetics pipeline, including preferential economic terms and long-term rights in its international markets, establishing a foundation for product differentiation and growth in recreational and medical markets. Under the terms of the amended loan agreement, Organigram will consolidate its existing investment with a new $3M advance, resulting in a combined total loan principal of $10M. The loan matures on May 25, 2028, and is subject to conversion or other resolution mechanisms under the amended agreement.
Safe Harbor Acquires 420 IT Solutions to Expand Cannabis Consulting Business. 420 IT Solutions is a cannabis-focused consulting and managed services firm serving financial institutions and cannabis operators, along with the integration of 420 IT Solutions’ core operating assets and active client contracts into Safe Harbor’s platform. Acquisition consideration is fully performance-based, as it is comprised of up to 125,000 of the company’s shares that are issuable only upon the achievement of incremental revenue milestones of $5M in 2026 or $6M in 2027.
📄 Company Updates
Advanced Flower Capital Converts to Business Development Company. The completion of the Conversion expands AFC’s investment flexibility to pursue opportunities beyond real estate-backed loans, including a broader universe of operating businesses.
CC Brands LLC Recall Hits 295 Colorado Dispensaries. One production batch from CC Brands, which also does business as Stash House CO and Cheeba Chews, initially passed testing but was later subjected to additional testing that showed unacceptable limits of the pesticide chlorfenapyr.
🏬 Retail
Moses Roses opens first recreational marijuana dispensary opens in Eastpointe, MI. Moses Roses recently began a soft opening at the high-traffic corner of Eight Mile and Kelly Road to be the lone entity of three that were guaranteed to receive a license to meet the Dec. 31 deadline to open. Moses Roses operates six other stores, including one each in Detroit, Lincoln Park and Waterford Township.
NOLA Cannabis Co. opens in New Orleans. The facility is the first of three new dispensaries to come to the metro area as the local cannabis industry continues to expand. The outlets, which are owned by two separate investor groups with common, though not identical, memberships, are all managed by an arm of one of the state’s two licensed growers, Good Day Farm, and do business under the brand name NOLA Cannabis Co. The company’s subsidiary, Good Day Farm Retail Management, runs the six NOLA Cannabis Co. sites and nine others around the state.
Harvest Care Medical expands in West Virginia. Harvest Care Medical opened two new medical cannabis dispensaries in Morgantown and Parkersburg, both operating under its Country Grown Cannabis brand . With these openings, Harvest Care Medical now operates 10 dispensaries in West Virginia.
Speakeasy Dispensary will open with limited supply this month in Lexington, KY. Gold Leaf Management is the company overseeing operations at Speakeasy Dispensary. Gold Leaf is registered with the Kentucky Secretary of State as an out-of-state company based in Little Rock, AR, doing business in Kentucky.
Curaleaf Opens 2nd Erie Dispensary in Millcreek, Pennsylvania. This maintains Curaleaf's footprint of 18 stores in Pennsylvania and 159 locations nationwide.
Verano Expands West Virginia Medical Cannabis Dispensary Footprint to Six with the Opening of Zen Leaf Charleston. Zen Leaf Charleston complements Verano’s five existing West Virginia Zen Leaf locations in Buckhannon, Clarksburg, Morgantown, Westover and Wheeling. According to the West Virginia Department of Health, there are currently over 35,000 approved medical cannabis patients in the state.
🎙️ Interviews
From Buds to Seeds: The Evolution of a Cannabis Pioneer | CannabisNow
Chanda Macias’ mission is to make cannabis accessible worldwide | MJBizDaily