California marijuana grower Canndescent lays off 16
California-based Canndescent, a large commercial cannabis cultivator, laid off 16 people, which equates to 14.4% of the 111 employees the company listed on its LinkedIn site. The company also froze the hiring process for another six positions, Business Insider reported. The layoffs were the result of the “drying up of capital markets,” Canndescent CEO Adrian Sedlin told Business Insider.
Lottery to choose who gets Rhode Island medical cannabis licenses
Rhode Island’s medical marijuana regulators will award medical marijuana licenses for six new dispensaries through a random lottery, under proposed rules. The new rules also would not allow new operations to initially grow their own cannabis.
– Associated Press
Massachusetts adult-user marijuana sales top $1 million a day
The 33 marijuana retail stores in Massachusetts sold a total of $393.7 million in products in the first year of legal adult-use cannabis sales in the state, according to the Cannabis Control Commission. That equates to more than an average of more than $1 million in sales a day, the State House News Service reported.