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Happy Friday Pre Rollers! Welcome to another edition of The Pre Roll, the cannabis newsletter that keeps you up-to-date on the industry happenings you need to know.
Here’s what we’re rolling up this week:
Vireo Growth acquires Planet 13
Senators seek cannabis insurance protections
Researchers examine CBD sleep benefits
…and more. Let’s get to it.
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🚨 ROLL CALL
Business
Source: Vireo Growth
More moves. Vireo Growth has agreed to acquire Planet 13 Holdings in an all-stock transaction, further accelerating its expansion into one of the largest multi-state cannabis operators in the U.S.
"Planet 13 represents another significant milestone of our disciplined growth strategy. These assets will deepen our existing footprint in Nevada and Florida, while complementing our developing platform in Illinois. Combined with our previously announced acquisitions, this transaction will further expand our scaled operating platform across attractive limited-license markets and reinforces our belief that disciplined consolidation can create long-term organic growth and meaningful shareholder value."
The deal is expected to significantly strengthen Vireo's presence in Nevada and Florida while complementing its growing Illinois platform. Under the agreement, Planet 13 shareholders will receive Vireo subordinate voting shares at an exchange ratio that represents a premium to Planet 13's recent trading prices.
Once completed, the combined company is expected to operate a broad national footprint spanning cultivation, manufacturing, retail dispensaries, home delivery, and distribution, with enhanced scale in key limited-license markets.
The acquisition follows a series of recent expansion moves by Vireo and underscores the industry's ongoing consolidation as operators pursue greater operational efficiency, geographic diversification, and long-term profitability.
Earlier this month, Vireo entered into a definitive agreement to acquire select cultivation, manufacturing, and retail assets from The Cannabist Company across Colorado, Illinois, Massachusetts, New Jersey, and West Virginia in a transaction valued at up to $35 million. The company also recently completed its acquisition of Eaze, expanding its cannabis retail and delivery footprint while strengthening its direct-to-consumer platform, and closed its acquisition of key cannabis assets from Schwazze, adding 45 dispensaries across Colorado and New Mexico, along with a manufacturing facility in each state.
Policy
Source: Alicia Tatone / GQ
Provide protection. Senators Ruben Gallego (D-AZ) and Kevin Cramer (R-ND) have introduced the Clarifying Law Around Insurance of Marijuana (CLAIM) Act, a bipartisan measure designed to protect insurers that provide coverage to state-licensed cannabis businesses by creating a federal safe harbor.
“Much like marijuana businesses are barred from using bank accounts, they are also locked out of insurance markets. Businesses, as we know, obviously assume risk [because] that’s part of being in business. But the risk for cannabis companies that operate in states where it’s actually legal is especially high. The CLAIM Act makes sure insurers can offer their commercial products to regulated marijuana-related businesses without fear of federal prosecution.”
The legislation aims to address a major industry challenge by expanding access to insurance products for compliant cannabis operators, which currently face barriers due to conflicts between federal cannabis prohibition and state legalization laws.
News
Source: Healthline
Sleep score. The National Center for Cannabis Research and Education (NCCRE) at the University of Mississippi and Southern Sky Brands have launched a CBD sleep study aimed at advancing scientific understanding of cannabinoid-based wellness solutions, with researchers evaluating CBD’s potential role in improving sleep outcomes and generating evidence to guide future medical cannabis applications.
“This collaboration reflects our shared commitment to generating high-quality scientific data that can help patients, healthcare professionals, and policymakers better understand the potential benefits of cannabinoids.”
The collaboration highlights the industry’s growing focus on clinical research and data-driven product development as cannabis companies seek to validate therapeutic benefits through academic partnerships.
🇺🇸 STATE OF THE INDUSTRY
Georgia: The medical cannabis program surpassed 40,000 registered patients after recent expansions added more qualifying conditions and allowed additional products, with more than 10% of patients joining since the changes took effect.
Michigan: The state supreme court ruled that the smell of cannabis alone no longer provides probable cause for a warrantless vehicle search, meaning officers must have additional evidence of criminal activity before searching a car.
Nebraska: A new University of Nebraska–Lincoln survey found that support for legal cannabis in the state has increased since 2024, with 84% of adults supporting medical cannabis and 47% supporting both medical and recreational legalization.
Rhode Island: Regulators are preparing to restart the cannabis retail licensing process and refund $7,500 application fees to 75 prospective retailers after a court challenge halted the initial rollout.
Utah: The Department of Agriculture and Food has opened applications for new medical cannabis pharmacy licenses as the state expands oversight of its medical cannabis program.
Vermont: The state has doubled cannabis purchase limits, allowing customers to buy up to two ounces in a single transaction as regulators aim to expand access and strengthen the regulated market.
💼 BUSINESS
Cannabist Company closing cultivation complexes
The multi-state cannabis operator is closing two cannabis cultivation facilities in Vineland, New Jersey, cutting 86 jobs, and plans to sell its three South Jersey dispensaries as part of a broader financial restructuring amid bankruptcy proceedings.
💨 QUICK HITTERS
Tesla is being sued by an employee who alleges disability discrimination and retaliation after he was denied a job transfer for testing positive for THC from off-duty medical cannabis use to manage pain.
Perfect Union Northside in Sacramento became the first California cannabis dispensary approved by the Department of Cannabis Control to deploy RFID-powered self-checkout technology.
Curaleaf opened its 75th Florida dispensary in Boynton Beach, marking another milestone in the company’s expansion of its medical cannabis retail network across the state.
📚 WHAT WE’RE READING
Medical Marijuana Has ‘Made A Difference’ For Pete Buttigieg’s Family And For Veterans He Served With In The Military, He Says (Marijuana Moment)
The cannabis industry is having a price compression crisis. What’s the solution? (MJBizDaily)
Big cannabis has cozied up to the GOP (Salon)
Gov. Greg Abbott cleared the way for the hemp industry in 2019. Now businesses are being pushed out (Houston Public Media)
🎙️ POTCASTS
Reclaiming California’s Cannabis Market with DCC Director Clint Kellum (High Spirits)
Understand This Before You Use AI To Build Software (The Dime)
📽️ VIDEO OF THE WEEK
🔎 JOB BOARD
Hinshaw & Culbertson LLP
$155,000—$200,000
Cal Poly Humboldt
$80,000—$84,000
Cresco Labs
$60,000—$70,000
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Stay tuned for more cannabis industry news next week!
💚,
The Pre Roll Team
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