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Cannabis Briefs for October 4, 2022

October 4, 2022

•Nevada has posted total cannabis sales down 4% to $965 million for its fiscal year ended in June. More than three-quarters of sales were contributed by Clark County, where Las Vegas is located, with Washoe County (Reno) accounting for another 13%. The state garnered $152 million in tax revenue for the year. While Nevada’s sales were down year-on-year, the state is expecting to benefit from the opening of cannabis lounges looking ahead, bolstering the cannabis tourism segment.

•Charlotte’s Web has announced a national distribution partnership with Gopuff. Charlotte’s Web’s CBD gummy line, CBD oil tinctures in various concentrations, topical CBD creams and balms, as well as CBD products for pets, are available from the instant needs delivery provider. The partnership has launched first across Arizona, Illinois, California and New York and will continue to expand nationwide throughout 2022 and 2023. “In the United States, consumer access to hemp wellness is still in its infancy,” said Charlotte’s Web CEO Jacques Tortoroli. “Our mission is to make CBD broadly available, accessible—and convenient. With Gopuff, we are making access more convenient than ever with instant delivery for our consumers.”

•New York-based multi-state operator Ascend Wellness has announced that CFO Daniel Neville and president and co-founder Frank Perullo have been named interim co-CEOs, effective immediately. Neville and Perello will oversee day-to-day operations while a search is conducted for a new permanent CEO. Previous CEO Abner Kurtin will transition to executive chairman of the board. Ascend is active across Illinois, Michigan, Ohio, Massachusetts, New Jersey, and Pennsylvania.

•Nevada-based cannabis operator The Source+ has named Brett Sprau as director of Massachusetts business. Sprau joined The Source+ in 2018 after founding the first wholesale cannabis cultivation center in Southern Colorado, Colorado Leaf, among other industry roles. In his new post, Sprau will oversee operations in the Massachusetts market, where The Source+ recently opened its first outpost in Northampton, joining its five-unit Nevada dispensary footprint.

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