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Week in Review: Nevada’s unhappy MJ growers, hemp’s friends in Congress & New York weighs adult use

Fri, 19 Jan 2018 18:00:27 +0000
Source: Marijuana Business Daily

Nevada marijuana growers are displeased with the state’s updated regulations, Congress members counter the DEA’s view of CBD, and New York may take a look at recreational cannabis. Here’s a closer look at some notable developments in the marijuana industry over the past week. Direct sales in Nevada As Nevada finalizes the rules for its […]

Week in Review: Nevada’s unhappy MJ growers, hemp’s friends in Congress & New York weighs adult use is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Colorado company develops first US-bred hemp seed variety

Fri, 19 Jan 2018 17:58:02 +0000
Source: Marijuana Business Daily

A Colorado cannabis company has developed the first hemp seed bred entirely in the United States in the modern era, according to the state’s agriculture department. The Colorado Department of Agriculture said the seed variety, called NWG-Elite, was developed by New West Genetics, a cannabis biotechnology company in Fort Collins. “This is the first U.S.-bred […]

Colorado company develops first US-bred hemp seed variety is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Oregon credit union, tech firm to offer marijuana banking services

Fri, 19 Jan 2018 15:00:31 +0000
Source: Marijuana Business Daily

Oregon-based Wauna Credit Union has forged a partnership with Arizona tech firm Hypur that will allow the financial institution to service marijuana-related companies. According to the Coast River Business Journal, the credit union believes the partnership will allow the institution to “become part of the solution and not part of the problem.” Hypur is providing […]

Oregon credit union, tech firm to offer marijuana banking services is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Tilray signs medical cannabis supply deal with Canada’s Shoppers Drug Mart

Fri, 19 Jan 2018 13:00:18 +0000
Source: Marijuana Business Daily

The largest pharmacy chain in Canada locked up another major supplier of medical marijuana, as drug store chains across the country look to secure supply from a limited number of producers. Shoppers Drug Mart will carry Tilray-branded medical cannabis products for sale nationwide through its online store, including whole flower, oil and capsules. The products […]

Tilray signs medical cannabis supply deal with Canada’s Shoppers Drug Mart is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

NCIA board member departs early, rips group’s direction and handling of sexual misconduct accusations

Fri, 19 Jan 2018 05:25:54 +0000
Source: Marijuana Business Daily

When Denver marijuana pioneer Kayvan Khalatbari announced his resignation from the board of the National Cannabis Industry Association (NCIA) in December, he intended to continue serving in the role until spring. But Khalatbari abruptly stepped down on Monday, telling Marijuana Business Daily he did so because of mounting frustrations with the organization’s direction and leadership. He also […]

NCIA board member departs early, rips group’s direction and handling of sexual misconduct accusations is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Study urges greater role for minorities in Maryland medical marijuana program

Thu, 18 Jan 2018 21:50:05 +0000
Source: Marijuana Business Daily

Maryland’s medical marijuana program put minority applicants for business permits at a disadvantage, according to a new study that recommended race be factored into any future MMJ licensing. The study’s author – Jon Wainwright, managing director of NERA Economic Consulting – said the findings support “the use of race- and gender-based measures to remediate discrimination affecting […]

Study urges greater role for minorities in Maryland medical marijuana program is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

MA picks Franwell’s Metrc for cannabis seed-to-sale traceability system

Thu, 18 Jan 2018 19:50:15 +0000
Source: Marijuana Business Daily

Massachusetts marijuana regulators have selected Florida-based Franwell’s Metrc program to serve as the state’s seed-to-sale traceability system. According to The Boston Globe, the Massachusetts Cannabis Control Commission budgeted about $750,000 for the system, which is intended to help states prevent diversion of cannabis to the black market. Here’s what you need to know: Using Metrc’s system adds […]

MA picks Franwell’s Metrc for cannabis seed-to-sale traceability system is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Canopy enlists first major bank to lead CA$175M marijuana equity financing

Thu, 18 Jan 2018 17:19:14 +0000
Source: Marijuana Business Daily

Canopy Growth became the first marijuana company in Canada to enlist a major Canadian bank to lead an equity-based funding, signaling a greater willingness by big financial institutions to provide financing to the nation’s cannabis businesses. Bank of Montreal subsidiary, BMO Capital Markets, and GMP Capital are co-leading the stock-purchase deal that will allow Canopy to […]

Canopy enlists first major bank to lead CA$175M marijuana equity financing is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

New York is considering recreational cannabis legalization

Thu, 18 Jan 2018 13:00:09 +0000
Source: Marijuana Business Daily

New York’s governor is urging state lawmakers to provide funding to establish a commission that would study the feasibility of legalizing adult-use marijuana in the state. The study would explore recreational legalization’s health effects, economic impact, criminal justice impact and how recreational legalization by some of New York’s neighbors would affect the state, according to Buffalo […]

New York is considering recreational cannabis legalization is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Canadian marijuana companies opening wallets to tap California market

Thu, 18 Jan 2018 11:30:10 +0000
Source: Marijuana Business Daily

A handful of Canadian marijuana companies are already knee-deep in California, deploying millions of dollars in cultivation facilities, retail outlets and branded products to establish a footprint in the world’s largest marijuana market. Executives at the companies – whose shares trade on the Canadian Securities Exchange (CSE) – said they hope to capitalize on: Access to […]

Canadian marijuana companies opening wallets to tap California market is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Canadian-listed marijuana company buys Florida MMJ license holder for $48M

Wed, 17 Jan 2018 23:15:54 +0000
Source: Marijuana Business Daily

A New York-based marijuana investment company used cash and its Canadian-listed shares to fund a $48 million acquisition of a licensed medical marijuana business in Florida. iAnthus Capital Holdings, an investor in U.S. marijuana businesses, bought Florida’s GrowHealthy Holdings for $30.5 million in stock and $17.5 million in cash. GrowHealthy and its affiliate, McCrory’s Sunny Hill […]

Canadian-listed marijuana company buys Florida MMJ license holder for $48M is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Nevada closes in on permanent cannabis rules, but growers unhappy

Wed, 17 Jan 2018 22:01:34 +0000
Source: Marijuana Business Daily

After a contentious public comment session, Nevada’s marijuana regulators voted to make permanent most of the temporary rules that allowed the state to get an early start on its recreational cannabis industry. The updated rules were approved unanimously by the Nevada Tax Commission on Tuesday but still must be approved by the Legislative Commission before the […]

Nevada closes in on permanent cannabis rules, but growers unhappy is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Crowdfunding effort nets CA$6.2M for Canadian hemp, marijuana company

Wed, 17 Jan 2018 18:45:50 +0000
Source: Marijuana Business Daily

A new crowdfunding method aimed at smaller investors helped a Canadian cannabis company raise 6.2 million Canadian dollars ($4.1 million). True Leaf Medicine, a company in Vernon, British Columbia, that makes hemp-derived treatments for animals and marijuana products for humans, launched its so-called Regulation A+ stock offering last November. The company plans to use the money […]

Crowdfunding effort nets CA$6.2M for Canadian hemp, marijuana company is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Maine delays cannabis social clubs until 2023

Wed, 17 Jan 2018 17:48:42 +0000
Source: Marijuana Business Daily

In another delay for Maine’s recreational marijuana industry, a legalization panel has voted to delay marijuana social clubs until 2023. The Marijuana Legalization Implementation Committee voted 5-1 to stall social club licensing, the Portland Press Herald reported. Committee members said they want to wait so Maine can learn from other states looking to implement cannabis […]

Maine delays cannabis social clubs until 2023 is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Judge orders Illinois to add intractable pain as a medical marijuana condition

Wed, 17 Jan 2018 13:00:52 +0000
Source: Marijuana Business Daily

An Illinois judge has ruled the state must add intractable pain to the list of medical marijuana qualifying conditions, a move that could greatly expand sales at the program’s 53 dispensaries. The state health department initially rejected intractable pain as a condition, but Cook County Judge Raymond Mitchell ordered the department to include it, the Chicago […]

Judge orders Illinois to add intractable pain as a medical marijuana condition is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Starting up, scaling and moving on: Q&A with cannabis pioneer Tripp Keber

Wed, 17 Jan 2018 11:20:16 +0000
Source: Marijuana Business Daily

Tripp Keber took many by surprise in December when he stepped down as CEO of Denver-based Dixie Brands, one of the most successful multistate companies in the marijuana industry.

His decision to exit the edibles company seemed to come out of the blue. But, in fact, it was more than a year in the making.

The notion to leave Dixie took root in late 2016, when Keber started reading John Hamm's Harvard Business Review article, “Why Entrepreneurs Don’t Scale.”

Starting up, scaling and moving on: Q&A with cannabis pioneer Tripp Keber is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

19 attorneys general urge Congress to give cannabis states access to banking

Wed, 17 Jan 2018 00:09:11 +0000
Source: Marijuana Business Daily

A letter to 10 major Congressional leaders from 19 attorneys general asks Congress to push through legislation that would allow states with medical or recreational marijuana laws to bank as other business do. The group suggests that Congress give special attention to measures such as the Secure and Fair Enforcement Banking Act (SAFE). Congressman Ed Perlmutter, D-Colorado, introduced […]

19 attorneys general urge Congress to give cannabis states access to banking is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Prince Edward Island taps marijuana growers; will use government-owned shops

Tue, 16 Jan 2018 22:07:32 +0000
Source: Marijuana Business Daily

Prince Edward Island has tapped three licensed producers to supply it with marijuana, while the province plans to sell adult-use cannabis products through four government-owned stores when sales are legalized this year. The move means neighboring Newfoundland will be the only province east of Manitoba to involve the private sector in marijuana sales. In announcing its […]

Prince Edward Island taps marijuana growers; will use government-owned shops is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Slew of restrictive medical cannabis bills proposed in Arizona

Tue, 16 Jan 2018 21:37:43 +0000
Source: Marijuana Business Daily

A proposed law in Arizona would make publishing the incorrect address of a cannabis dispensary a felony. According to the Phoenix New Times, three “prohibitionist” Arizona lawmakers are trying out new ideas to stymie the state’s medical marijuana program and prevent a recreational program from becoming a reality. The proposed bills also would: Prohibit dispensaries […]

Slew of restrictive medical cannabis bills proposed in Arizona is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Sessions’ marijuana antagonism spooks hemp industry, but some see silver lining

Tue, 16 Jan 2018 19:00:29 +0000
Source: Marijuana Business Daily

Attorney General Jeff Sessions didn’t have hemp in mind when he repealed Obama-era protections for state-legal marijuana businesses. But his Jan. 4 announcement sent shock waves into the hemp industry, too, leaving entrepreneurs scrambling to reassure skittish investors. It’s been a rocky couple of weeks for hemp entrepreneurs. That’s despite the fact that hemp’s legal […]

Sessions’ marijuana antagonism spooks hemp industry, but some see silver lining is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Order could force PA to reveal more about medical marijuana applicants

Tue, 16 Jan 2018 18:39:38 +0000
Source: Marijuana Business Daily

Pennsylvania’s medical marijuana regulators must disclose more information about business license applicants under a ruling by the state’s Office of Open Records. The decision by an appeals officer requires the Pennsylvania health department to make public the names of principals, operators and financial backers for MMJ cultivators and dispensary applicants, the Tribune-Review reported. However, no […]

Order could force PA to reveal more about medical marijuana applicants is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Canadian regulatory group reviews US risk disclosure for cannabis stocks

Tue, 16 Jan 2018 13:00:39 +0000
Source: Marijuana Business Daily

An umbrella group for Canada’s securities regulators is reviewing whether its disclosure-based guidelines for companies with U.S. marijuana-related activities remain appropriate in light of Attorney General Jeff Sessions’ decision to revoke Obama-era protections for state-legal MJ businesses. The move by the Canadian Securities Administrators (CSA) comes after the organization issued disclosure-related guidelines last fall. Fifty-six […]

Canadian regulatory group reviews US risk disclosure for cannabis stocks is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Reporter’s California Notebook: Regulated marijuana market an adjustment for some growers

Tue, 16 Jan 2018 11:30:51 +0000
Source: Marijuana Business Daily

Marijuana Business Daily reporter John Schroyer is on the ground in California, posting firsthand accounts detailing the historic, Jan. 1 launch of the state’s recreational marijuana market. Scroll down for an inside account from cannabis business executives pioneering the state’s new adult-use market, which Marijuana Business Daily estimates will generate at least $4 billion in annual retail sales […]

Reporter’s California Notebook: Regulated marijuana market an adjustment for some growers is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

CBD confusion mounts in Iowa as police seize goods but don’t always test for THC

Mon, 15 Jan 2018 19:00:39 +0000
Source: Marijuana Business Daily

Iowa police who’ve been seizing CBD products off stores shelves have in some cases not been testing them to see if they contain illegal THC, adding to the confusion surrounding cannabidiol’s legal status in the state. Authorities have seized oils, lotions and candies containing CBD in at least two jurisdictions, the Des Moines Register reported. Some […]

CBD confusion mounts in Iowa as police seize goods but don’t always test for THC is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Oregon marijuana retailers busted in underage-sales sting

Mon, 15 Jan 2018 18:29:09 +0000
Source: Marijuana Business Daily

Nearly 20% of state-licensed marijuana retailers in a recent undercover operation sold cannabis to underage buyers, according to Oregon authorities. The Oregon Liquor Control Commission told The Oregonian that 16 of 86 shops sold marijuana to people younger than 21 during decoy visits in December. The agency issued citations to the violating stores, which also […]

Oregon marijuana retailers busted in underage-sales sting is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Los Angeles issues first licenses for cannabis sales

Mon, 15 Jan 2018 18:06:48 +0000
Source: Marijuana Business Daily

A medical marijuana dispensary and recreational retail store in Los Angeles have received temporary licenses from the city to sell cannabis. Mother Nature’s Remedy Caregivers in Woodland Hills and WHTC in Studio City received L.A.s’ first MMJ and adult-use permits, LA Weekly reported. The two facilities now need approval only from state regulators to begin […]

Los Angeles issues first licenses for cannabis sales is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Canadian marijuana grower spends CA$233M on British Columbia, Australia deals

Mon, 15 Jan 2018 16:40:18 +0000
Source: Marijuana Business Daily

One of Canada’s largest licensed medical marijuana producers got even bigger, buying rival British Columbia cultivator Broken Coast Cannabis for 230 million Canadian dollars ($185 million) in stock and cash. Aphria, based in Leamington, Ontario, also expanded its presence in Australia, purchasing a 25% stake in an Australian MMJ producer for CA$2.5 million. Aphria’s acquisition […]

Canadian marijuana grower spends CA$233M on British Columbia, Australia deals is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Cannabis grow-equipment company GrowGeneration raises $9 million

Mon, 15 Jan 2018 13:00:49 +0000
Source: Marijuana Business Daily

GrowGeneration, a multistate operator of retail hydroponic and organic gardening stores serving marijuana growers, said it raised $9 million through the offering of convertible notes. The Denver company said in a news release filed with the Securities and Exchange Commission that it plans to use the proceeds to expands its operations. CEO Darren Lampert said […]

Cannabis grow-equipment company GrowGeneration raises $9 million is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Chart: Pennsylvania’s medical marijuana market set to become one of the country’s biggest

Mon, 15 Jan 2018 11:30:10 +0000
Source: Marijuana Business Daily

Sales of medical marijuana are expected to begin in Pennsylvania this spring, with the state poised to become one of the largest MMJ markets in the nation. With cultivation underway and both patients and doctors registering with the program, the state’s MMJ market is progressing ahead of schedule – a rarity in the cannabis industry. […]

Chart: Pennsylvania’s medical marijuana market set to become one of the country’s biggest is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Reporter’s California Notebook: Regulators, growers share concerns about state’s marijuana industry

Sat, 13 Jan 2018 00:55:52 +0000
Source: Marijuana Business Daily

Marijuana Business Daily reporter John Schroyer is on the ground in California, posting firsthand accounts detailing the historic, Jan. 1 launch of the state’s recreational marijuana market. Scroll down for an inside account from cannabis business executives pioneering the state’s new adult-use market, which Marijuana Business Daily estimates will generate at least $4 billion in annual retail sales […]

Reporter’s California Notebook: Regulators, growers share concerns about state’s marijuana industry is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs