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Cannabis Briefs for August 4, 2020

August 4, 2020

•Illinois has once again beaten its monthly cannabis sales record, this time with its biggest jump yet. Following June’s record-setting haul of $47.6 million, July’s rose all the way to just under $61 million. The $13 million difference is the largest month over month increase, a market expansion of more than 25%. More than 1 million individual items were sold—a first—with Illinois residents spending $44.7 million and out-of-staters contributing $16.2 million. The market has now grown by more than 50% since it launched at $39.2 million in January.

•Toronto-based TerrAscend Corp has opened its newest location of its Apothecarium retailers. Located on Telegraph Avenue in Berkeley, California, it’s the fourth outlet in the state and the seventh nationwide for the upscale retailer. The new location is 4,200-square-foot and features a large selection of products. TerrAscend acquired The Apothecarium for $118 million in February of 2019.

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