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DC to authorize sixth medical cannabis dispensary

Wed, 22 Mar 2017 21:36:17 +0000
Source: Marijuana Business Daily

The Washington DC Department of Health plans to add a medical marijuana dispensary to the five already in operation.

The license application period began March 6 and will end April 7, according to a public notice from the DC Department of Health.

The new dispensary must be located in either DC City Council Ward 7 or Ward 8. The business will join dispensaries already operating in five other council wards, along with eight licensed MMJ cultivators.

“The council members who represent those wards was concerned that none of their constituents had easy access to a dispensary,” said Kate Bell, a legislative

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DC to authorize sixth medical cannabis dispensary is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

LSU extends deadline for medical marijuana cultivation applications

Wed, 22 Mar 2017 17:28:33 +0000
Source: Marijuana Business Daily

Marijuana cultivation businesses hoping to grow cannabis for Louisiana State University under a new medical marijuana law have more time to make their case.

LSU extended the deadline for growers to submit plans on how they would run the university’s MMJ cultivation operation to March 31, The Advocate of Baton Rouge reported. The original deadline was March 21.

School officials did not say why the deadline was extended.

Last year the state granted LSU and another Baton Rouge-based school, Southern University, exclusive licenses to grow medical cannabis.

The LSU Agricultural Center has estimated it will cost $11.3 million

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LSU extends deadline for medical marijuana cultivation applications is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Another Canadian medical cannabis producer goes public

Wed, 22 Mar 2017 12:00:33 +0000
Source: Marijuana Business Daily

Adding to a growing trend among licensed Canadian medical marijuana producers, Hydropothecary Corp. went public Tuesday.

The Quebec-based company started trading on the TSX Venture Exchange after completing a reverse takeover with BFK Capital Corp. last week, the Financial Post reported.

Hydropothecary shares opened at 1.82 Canadian dollars ($1.36) and closed at CA$1.55 ($1.16) on Tuesday, according to the Post.

An analyst quoted by the Post estimated Hydropothecary will have an initial market capitalization of CA$53 million ($39.6 million) and an opening enterprise value of CA$36 million ($26.9 million).

Hydropothecary said its revenue was CA$1.1 million ($824,340) in

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Another Canadian medical cannabis producer goes public is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Court-appointed receivers an option for troubled marijuana companies

Wed, 22 Mar 2017 10:30:35 +0000
Source: Marijuana Business Daily

By John Schroyer

Business partnerships in the cannabis industry have become increasingly common. But what happens when such a partnership goes down the tubes and the parties wind up in court?

In that situation, who’s left to run day-to-day operations?

Court-appointed receivers an option for troubled marijuana companies is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

More legal issues for marijuana firm Pineapple Express

Tue, 21 Mar 2017 20:05:33 +0000
Source: Marijuana Business Daily

Pineapple Express, which provides consulting, financial and real estate services to marijuana businesses, has been named in a lawsuit filed by three companies that allege the Los Angeles firm owes them nearly $685,000.

Pineapple Express CEO Matthew Feinstein stressed in an email to Marijuana Business Daily that a subsidiary the company has since sold is the target of the lawsuit, not Pineapple Express.

More legal issues for marijuana firm Pineapple Express is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

New cannabis advocacy group aims to sway federal government

Tue, 21 Mar 2017 16:37:56 +0000
Source: Marijuana Business Daily

A group of cannabis companies has banded together to form a nonprofit political advocacy group designed to protect the legal marijuana trade – and it includes the unit of a major mainstream company that is a relative newcomer to the MJ industry.

The organization, called the New Federalism Fund (NFF), is made up of industry heavy hitters that include:

  • Scotts Company LLC, a subsidiary of the Scotts Miracle-Gro Co., a lawn and garden company that has been investing heavily in the cannabis market and trades on the New York Stock Exchange
  • Colorado retail chains LivWell Enlightened Health,

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New cannabis advocacy group aims to sway federal government is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Pacific Northwest marijuana investment network set to launch

Tue, 21 Mar 2017 12:00:56 +0000
Source: Marijuana Business Daily

Cannabis-related companies in Alaska, Oregon and Washington seeking capital may find some investors through the Cannabis Investment Network, an organization launching this week that aims to connect marijuana firms with financial backers.

Cannabis Investment Network (CIN) is hoping to serve smaller-scale firms that are looking to raise from $500,000 to $3 million, according to a news release. The self-described “angel group” will function more as a conduit to connect investors with potential investments, instead of raising and deploying capital itself.

A spokeswoman said CIN welcomes all comers in the cannabis space, including both plant-touching and ancillary firms, during the launch

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Pacific Northwest marijuana investment network set to launch is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

What’s in a strain name? Q&A with Canndescent CEO Adrian Sedlin

Tue, 21 Mar 2017 10:30:33 +0000
Source: Marijuana Business Daily

By Bart Schaneman

Walk into any marijuana outlet and you'll find jars of flower strains with names like Golden Goat, Ghost Train Haze or Robert Plant.

Such names convey minimal information to novice consumers, forcing them to do further research before they can purchase any cannabis. California-based cultivator Canndescent is trying to simplify that experience.

What’s in a strain name? Q&A with Canndescent CEO Adrian Sedlin is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Study: Cannabis is making a dent in beer sales

Mon, 20 Mar 2017 21:09:50 +0000
Source: Marijuana Business Daily

Almost 30% of Americans say they are now buying legal marijuana instead of beer or would consider doing so if it were sanctioned in their states, according to a study by Cannabiz Consumer Group.

The results shed light on a potentially large customer base for cannabis companies.

Research by Cannabiz Consumer Group, also known as C2G, shows that 27% of U.S. beer drinkers say they have or would switch to legal marijuana, based on the answers of 40,000 participants surveyed in 2016. Wine and liquor sales also could be affected, according to the C2G report.

Looking ahead, Cannabiz Consumer Group said

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Study: Cannabis is making a dent in beer sales is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

RI medical marijuana panel sets first meeting in eight years

Mon, 20 Mar 2017 17:11:16 +0000
Source: Marijuana Business Daily

Eight years after its formation, a legislative committee tasked with overseeing Rhode Island’s medical marijuana program will meet for the first time on March 28.

It’s unclear why the “Legislative Oversight Commission of the Edward O. Hawkins and Thomas C. Slater Medical Marijuana Act” wasn’t formed until now. But the Providence Journal reported that the oversight committee simply was overlooked until media reports raised the issue in 2015.

When the commission gathers for its inaugural meeting, it won’t have any members from the state’s three dispensaries, according to the newspaper. The Journal noted that dispensary representation isn’t required by

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RI medical marijuana panel sets first meeting in eight years is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs