California dispensary Harborside secured a $12M revolving credit facility with an unnamed federally-regulated bank. It's apparently the first loan of its kind to a plant-touching business. 
San Francisco Business Times

• “This deal is the culmination of months of effort and reflects the close working relationship and trust that we developed with our bank,” Harborside CFO Tom DiGiovanni said. He called the loan "transformational" for the company.
• The story says the loan is secured "by substantially all of the company's assets."

Separately, lawyers for the two men on trial for tricking banks into processing credit card payments for delivery app Eaze said banks including Citigroup and Bank of America were happy to look the other way. (Eaze has not been charged and has said it cooperated with authorities. Citigroup and Bank of America declined to comment to Bloomberg.)
Bloomberg

For the first time in a generation, Chicago is at the center of a high-growth industry. Crain's Chicago Business explains how the Windy City became "the Silicon Valley of Pot:"

"In the six years since Illinois issued its first licenses to grow and sell marijuana for medical use, GTI, Cresco, Verano and privately held PharmaCann have emerged as industry giants, winning or acquiring licenses across the country as legalization took off. Fueled in part by the launch of recreational marijuana sales in Illinois last year, the Chicago-based companies have seen their fortunes soar. GTI's revenue rose 151 percent last year, and its stock has increased 650 percent in the past 12 months."

But the competition from other cities is getting steeper...

Read the whole thing.

What's happening:

• New York lawmakers anticipate unveiling a REC bill this week.
  Marijuana Moment
• The Biden Administration's decision to dismiss several staffers for past cannabis use has some allies "scratching their heads."
  N.Y. Times
• After a REC push fell short in the legislature, New Mexico Gov. Michelle Lujan Grisham(D) says she plans to call a special session to legalize.
  Albuquerque Journal
• In a lawsuit, MSO Harvest alleges an employee of failed merger partner Verano took a flight carrying smuggled cannabis clippings in a Whole Foods salad in order to provide starter genetics to a new state. Verano called the allegations "totally false and absurd." 
  Bloomberg 
• After a long wait, investors are bullish on ancillary pot stocks.
  New Cannabis Ventures
• Scottsdale, Ariz.-based cannabis corporation The Pharm has settled a lawsuit with a former executive that "led to dueling allegations of drug-law violations and extortion." The company denied any lawbreaking.
  Phoenix New Times
• MJBiz offers tips on how to vet celebrity partnerships and avoid embarrassing missteps.
• Iris Dorbian interviewed Papa & Barkley's new CEO, beauty industry veteran Evelyn Wang.
  Forbes
• The slow rollout of L.A.'s equity licenses is hurting entrepreneurs.
  L.A. Times
• Michael Thompson, a Michigan man who spent 25 years in prison for a cannabis offense, is now a brand ambassador for UBaked.
  MLive
• MSO Curaleaf is touting the release of THC-infused "beverage enhancer" Select Squeeze as one of the first national product rollouts. 
  MassLive