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An ongoing wrongful death lawsuit from McMurrey’s family could still cost the MSO even more.Marijuana industry giant Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) continues to be haunted by the ghost of Lorna McMurrey, the former Massachusetts worker who died in early 2022 due to working conditions at one of its now-shuttered manufacturing facilities. This week, the Florida-based multistate operator agreed to a state fine of $350,000 in connection with McMurrey’s death. The fine is a settlement with Massachusetts state regulators, Masslive.com reported, and is in addition to a federal fine of $14,500 already levied by the federal Occupational Safety…

Villanueva attributes much of her success to the extra drive she feels as a woman competing in a “man-driven industry.”Irene Villanueva, director of cultivation operations at The Source, worked her way up through the trenches in the Las Vegas marijuana trade. Her hard work and dedication to the craft were key factors in her winning took home the top cannabis cultivator prize at the Green Market Report Women in Cannabis Awards in New York last month. Villanueva, who started growing marijuana 10 years ago in her garage as a side hustle for extra cash, launched her full-time cannabis career in…

The price of cannabis in the U.S. is anything but uniform. An analysis of nationwide data shows that consumers can expect to pay anywhere from around $200 to nearly $600 for an ounce of high-quality marijuana, depending on where they live. The national average, corrected for outliers, lately stood at $318.72 per ounce. Quality of product also has a significant impact on the overall price. The average national price for “medium-quality” cannabis fell nearly 20% to $256.08 per ounce, according to the global price index site priceofweed.com. The findings, drawn from figures reported by priceofweed.com, point to the significant role…

News from: Indiva, Michigan, Ohio, High Tide, and more.The Daily Hit is a recap of the top financial news stories for Thursday, June 13, 2024. On the Site Canadian edibles maker Indiva receives creditor protection Existing creditor SNDL is expected to set the auction floor price with a “stalking horse bid” to acquire the edibles maker. Read more here. Michigan cannabis sales hold steady in May Flower remains a top seller in Michigan’s market, accounting for nearly half of all sales in May. Read more here. SEC wins $10 million judgment against cannabis stock promoter The pump-and-dump scheme included a…

POSaBIT Systems Corp. (CSE: PBIT) (OTC: POSAF) reported a net loss of $1.9 million for the first three months of 2024, down from its $2.7 million loss in the first quarter of 2023, but also with dramatically reduced revenue. The cannabis management and inventory software company pulled in just $3.7 million in revenue for the most recent quarter, a whopping 67% downturn from the $11.5 million in revenue in the first quarter a year ago. The latest quarterly financial news follows a poor showing for POSaBIT in the full 2023 calendar year, in which it lost $13.8 million, down from…

Michigan marijuana sales remained relatively flat in May, according to the latest data from the state Cannabis Regulatory Agency. The state reported $279.6 million in combined medical and adult-use sales for May, one of the higherst monthly figures to date for the Michigan market. Total sales were up slightly from the $278.5 million recorded in April. The adult-use market accounted for the vast majority of the total, with $278 million, while medical sales contributed $1.6 million. Flower continued to be the dominant product category, making up $124.3 million of adult-use sales in May, up from $124.1 million in April. Vape…

Canadian cannabis company High Tide Inc. (Nasdaq: HITI) (TXSV: HITI) posted net income of C$171,000 for the three months that ended April 30, the company’s second fiscal quarter of 2024, a long-awaited turnaround after breaking even last quarter and losing C$1.6 million a year ago. The profit level for the quarter would’ve been even higher, but High Tide also took a C$7.5 million non-cash depreciation hit. High Tide reported revenue of C$124.2 million, a 5% year-over-year increase from C$118.1 million, and free cash flow of C$9.3 million for the quarter, bringing the company’s total free cash flow for the past…

A former Bay State elected official has been busted by the feds for allegedly defrauding investors in his marijuana company. Bruce Spinney III, who was previously a chair of the Grafton Select Board, was arrested on Friday by FBI Boston special agents. The 49-year-old man was indicted on three counts of wire fraud related to a scheme to defraud investors in his marijuana company, according to the Massachusetts U.S. Attorney’s Office. He was also indicted on one count of conducting an unlawful monetary transaction. Read the rest of this story on BostonHerald.com.

By the time this summer ends, tourists, day trippers, and residents living on the island of Martha’s Vineyard may lose access to legal marijuana. The Bay State’s Cannabis Control Commission, on Thursday, joined the concerned residents of the island during a meeting held in Oak Bluffs — where they discussed the impending closure of the Vineyard’s only marijuana cultivation facility and the potential for the return of questionable black-market products. Marijuana production, possession, and consumption is legal for adults living on the island of Martha’s Vineyard, just as it’s legal for anyone over the age of 21 standing anywhere else…

While marijuana is legal in the Bay State, it’s still illegal to move massive amounts across state or international lines. That’s the message from police after yet another person has been busted for allegedly trying to transport a huge amount of weed through Boston Logan International Airport to the United Kingdom. A 19-year-old London woman was arrested after U.S. Customs and Border agents seized about 70 pounds of marijuana before her flight back to the U.K., the Suffolk DA’s office announced on Tuesday. The 70 pounds of pot is worth about $350,000 in the U.K., where marijuana is illegal. Read…