Hi,

Unions are gaining traction in the cannabis industry as workers fight for better conditions. Green Thumb Industries recently resolved 10 federal complaints filed by the Teamsters Union, ending a worker strike. PharmaCann store workers secured a 20% wage increase through their first labor contract.

Costa Rica granted its first medical cannabis license to go along with eight hemp licenses. This allows for the cultivation and production of cannabis and hemp products for medicinal and industrial purposes.

While the Canadian cannabis businesses struggle, the government raked in $1.1B in taxes and profits from cannabis. The Canadian Revenue Agency (CRA) threatened cannabis businesses withholding taxes with garnishment, liens on plant property and equipment, as well as with legal action. Brigitte Diogo, Deputy Commissioner of the CRA said to businesses, “Either you give us our cut or we’re going to take our cut!“ Okay, maybe she didn't say that but she meant it! :)

Feel free to subscribe to our Cannabis or CBD News Roundups.

Thanks and have a great week!
Jessica

05/15/23
Lawyers battle over Skymint's finances amid receivership. 3Fifteen challenges inclusion. Judge denies requests, orders $600K repayment.
Columbia Care (CSE: CCHW) (OTCQX: CCHWF) reports 1% Q1 revenue growth driven by East Coast markets, focuses on cost reduction and expansion plans.
TILT Holdings (NEO: TILT) (OTCQX: TLLTF) reports Q1 2023 results: $4.9M loss, improvement from Q4 2022. Interim CEO aims to optimize operations for profitability.
TPCO Holding Corp (OTCQX: TPCO) reports lower sales but reduced losses. Q1 results show a positive trend for the company.

05/16/23
iAnthus (CSE: IAN, OTCPK: ITHUF) sees Q1 revenue decline as legal challenges persist, reaching $11.5M.
Cannabis stocks get a boost on hopes of federal banking legislation, but earnings disappoint. Sales improvements needed for lasting share price improvements.
Planet 13 Holdings (CSE:PLTH) (OTCQB:PLNHF) sees a 3% revenue drop in Q1 due to lower cannabis prices.
Pelorus Capital Group's cannabis-focused mortgage REIT subsidiary, Pelorus Fund, receives A rating for $50M senior secured notes.
CEA Industries Inc (OTCQB: CEAI) reports Q1 2023 results, with $7.1M in revenue and a net income of $0.5M.

05/17/23
Curaleaf (CSE: CURA) (OTCQX: CURLF) exceeds Q1 revenue expectations, reporting $260M in revenue, a 170% increase YoY.
TILT Holdings (NEO: TILT) (OTCQX: TLLTF) secures $4.5M to restructure capital and fuel future growth amid payment challenges.
Skymint surrenders facility to Innovative Industrial Properties amid financial troubles and lawsuits.

05/18/23
Evogene (Nasdaq: EVGN) (TASE: EVGN) reports first quarter 2023 financial results. Revenue increases to $1.3M, driven by collaborations and grants.