Maine hikes cannabis taxes 📈

"They have an appropriations bill that I think would completely destroy the American hemp industry.” Sen. Rand Paul said to Marijuana Moment. 

Paul, a Kentucky Republican, has consistently been open to cannabis reform. As such, he is not in support of a proposed appropriations bill that would effectively ban hemp-derived intoxicants. Paul recently filed a bill that would increase the allowable amount of delta 9 THC in hemp products. 

Law firms investigating Aurora on behalf of investors 📉

Investors of Aurora Cannabis have brought on Pomerantz Law Firm and Levi Korsinky LLP to investigate possible claims of securities fraud. The investigation is related to Aurora's announcement on June 18 that it was expecting a decline in international sales, which led to a 20% drop in the company's share price. That drop also took place on the same day that Investing.com published two completely false AI-generated stories about the company. 

Maine increases cannabis tax to 14% 💰

Maine cannabis remains among the lightest taxed in New England, but the state's latest budget bill bridged that gap when the cannabis tax was increased from 10% to 14%. Between state, excise, and local taxes, consumers in Massachusetts and Rhode Island can expect a 20% tax on cannabis purchases, while Vermont cannabis tax can go as high as 21%. New Hampshire is a medical-only state, and charges no tax on cannabis, while Connecticut consumers are taxed based on the total amount of THC in the product. 

Alabama hemp operators sue over July 1 ban 🧑‍⚖️

With days left before Alabama's hemp ban goes into effect, a collection of hemp producers sued the state on June 27, claiming that its new law banning the sale of hemp flower and hemp-derived vapes conflicts with federal law. Under the new rules, edibles also face potency limits of 10 mg per serving and no more than 40 mg per package. Possession of contraband hemp could result in a felony. The Alabama Political Reporter has more. 

Maryland also gets a tax hike 📈

The tax on recreational cannabis in Maryland goes up to 12% today, from 9%. The change is part of a broader move to increase taxes and cut spending in the state budget.

LIT ALERTS’ INSIGHTS
Challenger brands in New Jersey 📈

As New York and New Jersey markets become more competitive, looking beyond the top 10 brands becomes more and more important for retailers looking to stand out and offer high quality and variety to their customers.

A specific group of brands worth keeping an eye on are the brands that are moving up the charts and nipping at the heels of the top 10.

Lit Alerts calls these the "challenger brands" and we recently featured the brands moving up the charts in New York. Today we're featuring the challenger brands from New Jersey.

This list features many more west coast brands than the New York list did. A hat tip is in order for both vape brand Bloom and pre-roll brand Lowell's for making the challenger brands list for June 2025 in BOTH New York and New Jersey.

Have a look at Lit Alerts’ exclusive insights. 👇

To learn more about Lit Alerts and get a special offer only available to Cultivated readers, visit litalerts.com.

TerrAscend is exiting Michigan 💸

The company announced on Monday that it was planning to divest its Michigan holdings, which include four cultivation and processing facilities and 20 retail store fronts. Following that sale, TerrAscend will still be active in New Jersey, Maryland, Pennsylvania, Ohio and California, as well as Toronto, Ontario. 

200 is not enough for High Tide 🌿

The Canadian cannabis retail giant announced plans to open Canna Cabana locations in Toronto and Winnipeg, bringing the company's total retail footprint to 202 locations. 

Trulieve files a registration statement with the SEC 📊

Trulieve has informed the US Securities and Exchange Commission that it does not plan to immediately sell new shares of the company, but it does want to have that ability in case it changes its mind. The company filed a notice with the SEC on June 30 to register a base shelf prospectus.

Alexander Hymowitz has joined Justice Cannabis Co. as their new Senior Legal Counsel, he said on LinkedIn.

Canadian cannabis workers lag behind the rest of their country in job satisfaction, according to a new report from recruitment firm White Ash Group. Eighty percent of Canadian workers rate their job satisfaction between 7 and 10 — with an average of 7.7 — while cannabis workers average 6.7, according to Statistics Canada, a federal agency.  

One of the key reasons for dissatisfaction? Industry instability. This is something execs across the industry should monitor. Download the full report.

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