A number of multistate operators are vying for the coveted six additional medical marijuana licenses in New Jersey’s rapidly growing MMJ industry, underscoring the increasing attraction of the Garden State market. The New Jersey Department of Health has made the list of applicants available but said no further information would be released until the licenses […]
An exchange-traded fund that invests in marijuana companies is changing its custodian, administrator and transfer agent after major changes at the ETF and questions about a bank’s role in the investment vehicle. The $560 million ETFMG Alternative Harvest ETF – which trades under the symbol MJ – previously had U.S. Bancorp perform those duties. The bank […]
This weekly series from Marijuana Business Daily and Viridian Capital Advisors provides the latest data on cannabis investment activity and M&A, along with key takeaways, analysis and trends based on recent market moves. The data below, provided by Viridian Capital Advisors, is through the week ended Sept. 14, 2018. Capital raises key takeaways: Multistate cannabis retailer Have a […]
Captor Capital, a vertically integrated Canadian marijuana company, acquired Chai Cannabis, a medical and recreational cannabis store in Santa Cruz, California, for roughly $6 million. The acquisition adds a fourth California retail shop to Captor’s investment portfolio, which includes two MedMen-branded dispensaries, according to a news release. Chai also possesses a license permitting cannabis delivery […]
No marijuana business expects to run into a tough situation, but it’s a good idea to have a plan in place in case trouble arises. So, we spoke with experts about the importance of crisis communications planning and strategies.
Louisiana regulators agreed to eliminate the 100-patient limit for doctors authorized to recommend medical marijuana, a move aimed at removing a potential stumbling block for a market that’s expected to launch late this year. The State Board of Medical Examiners voted 8-1 on Monday to remove the cap established in 2016. By a narrower 5-4 […]
In a rare move, the U.S. Drug Enforcement Administration approved the importation of marijuana extracts from Canada for a clinical trial, a decision that paves the way for additional research into the potential medical benefits of cannabis. New research into medical marijuana could persuade more U.S. physicians to recommend the drug, which could provide a boost […]
A part-owner and operator of two medical marijuana dispensaries in Oregon was sentenced to seven months in prison Monday, marking what a prosecutor called the country’s first federal sentencing of a legal MJ business owner for tax crimes. Matthew Price also was ordered to pay $262,776 in restitution to the Internal Revenue Service during sentencing […]
Applicants for marijuana social consumption licenses across the United States are betting that consumers will want to patronize a public venue where they can consume cannabis with other users.
Entrepreneurs who pursue this new niche sector are likely to wager hundreds of thousands of dollars to get their businesses off the ground, according to industry executives.
Build it and they will come? Cannabis entrepreneurs wager big bucks on social consumption venues is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
The parent of California-based cannabis culture magazine High Times raised more than $5 million in its effort to go public, but that's still short of the $17.2 million it needs to be listed on the Nasdaq and far from the $50 million it set out to raise. High Times Holding extended its fundraising deadline by more than a month to allow for more investment.
MJardin has agreed to buy a licensed cannabis cultivation facility in Las Vegas for roughly $22 million in cash and stock, allowing the Denver company to extend its geographic footprint into the Nevada marijuana market. MJardin – which operates cultivation, processing and retail facilities in North America and has an office in Toronto – said […]
Leafly, one of the biggest marijuana retail listing sites in North America, will allow only licensed cannabis companies in Canada to list on its platforms once adult-use MJ becomes legal next month. Canadian regulations permit only licensed retailers and delivery services to advertise on technology platforms, Leafly said in a news release. Beginning Oct. 17, […]
A reportedly racy shareholder party hosted by Namaste Technologies has cost the Toronto company its business ties with fast-growing cannabis producer Tilray.
Officials with Tilray confirmed in an email to Marijuana Business Daily that it had "ended its relationship" with Namaste after a highly publicized "pledge party" the firm held for stockholders who promised not to sell company shares for 90 days.
The Coca-Cola Co., the world’s largest beverage maker, is looking at a line of CBD beverages, the company confirmed Monday. “Along with many others in the beverage industry, we are closely watching the growth of nonpsychoactive CBD as an ingredient in functional wellness beverages around the world,” Coca-Cola spokesman Kent Landers said in a statement. “The space is […]
New Jersey’s once heavily restricted medical marijuana market continues to open up: MMJ businesses will now be able to sell vape cartridges filled with concentrates, a move that could boost dispensary sales and open new opportunities for makers of vaporizers and concentrates. The move comes after the state Department of Health waived the previous ban, according […]
An Oregon county’s sheriff’s office will use state grant money to go after legal growers that harvest more than their license allows as well as black market marijuana producers. The nearly $600,000 grant from a new program will pay for three detectives, one crime analyst and a part-time prosecutor in Jackson County, the Mail Tribune […]
Alberta’s most populous city is throwing its doors open to the cannabis industry, designating part of a massive industrial park as a cannabis business “hub.” “We recognize the opportunity the cannabis industry provides for Alberta and Calgary to diversify its economy and want to collaborate and facilitate the growth of the industry here in our city,” said […]
Chart: Alaska’s recreational cannabis market strong, but seasonal sales swings a challenge for MJ businesses
Alaska’s summer tourism season has produced the strongest months on record for wholesale marijuana sales, but MJ businesses are still adapting to the cyclical nature of the state’s adult-use market. The state’s cultivators sold nearly 2,500 pounds of flower and trim to retailers and infused product manufacturers in July – an increase of 7% from […]
Chart: Alaska’s recreational cannabis market strong, but seasonal sales swings a challenge for MJ businesses is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Ohio plans to revoke the license of a medical marijuana cultivator that has made little progress in building its facility in Toledo. The business, OhiGrow, which won a Level 2 small cultivator license, could appeal, according to Columbus Business First. “We found them to be generally nonresponsive,” Mark Hamlin, senior policy advisor at the Ohio Department […]
Massachusetts-based Curaleaf, a vertically integrated cannabis company, is seeking a valuation of up to $4 billion. According to Bloomberg, the company entered into a reverse takeover when Canada’s Lead Ventures combined with PalliaTech in August and changed its name to Curaleaf. The company plans to offer subscription receipts – which can be exchanged for common […]
Hezekiah Allen has been a staple of marijuana lobbying in Sacramento, California, for more than four years as head of the Emerald Growers Association and then the renamed California Growers Association (CGA). But now he’s moving on to spearhead a new holding company to promote cannabis cultivation cooperatives. Allen announced his resignation as executive director of […]
Recreational and medical marijuana businesses in Massachusetts can look forward to having access to banking services after a credit union announced it is willing to serve them. The GFA Federal Credit Union, a state-chartered institution with $500 million in assets, will begin accepting marijuana clients by Oct. 1, offering basic services that include cash management, […]
A judge on Thursday issued an injunction preventing Michigan from closing 98 medical marijuana facilities as planned on Sept. 15. The ruling by Michigan Court of Claims Judge Stephen Borrello orders the state to extend the deadline to Dec. 15 for all MMJ businesses temporarily operating under emergency rules, according to The Detroit News. Earlier […]
Week in Review: MJardin’s reverse takeover, California’s marijuana testing woes & Alaskans’ taste for high-THC goods
MJardin becomes the latest U.S. cannabis company to go public in Canada through a reverse takeover, nearly 20% of marijuana products in California fail tests for potency and purity, and Alaskans’ preference for high-THC products could bankrupt some growers. Here’s a closer look at some notable developments in the cannabis industry this week. Buyer beware […]
Week in Review: MJardin’s reverse takeover, California’s marijuana testing woes & Alaskans’ taste for high-THC goods is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Massachusetts medical marijuana industry officials cautioned that a crackdown by state regulators on their use of pesticides, including natural compounds used by the organic food industry, could hamstring cultivators and curb MMJ supplies. The Boston Globe reported that state health department inspectors shuttered Colorado-based medical cannabis firm Good Chemistry’s growing, processing and retail operations in Massachusetts […]
Law enforcement agents in the Los Angeles area continue to crack down on unlicensed cannabis retailers this week, with the Los Angeles Police Department serving one warrant at an illegal shop in Mission Hills on Tuesday and sheriff’s deputies raiding 13 shops in East L.A. The crackdown should benefit licensed operators that argue they lose […]
Ohio’s auditor said the state’s process for selecting medical marijuana grower applicants suffered from numerous errors and inconsistencies. Auditor David Yost said the Department of Commerce exceeded its legal authority when it awarded two additional licenses to cultivators and found weaknesses in how the agency protected passwords, system folders and summary scoring sheets. Yost, a Republican […]
The United Kingdom likely will lean on imports to supply “unlicensed” cannabis-derived products after medical marijuana becomes available by prescription later this year. A new report by a council studying medical cannabis in the U.K. advises the government should encourage pharmaceutical companies to apply to the Healthcare Products Regulatory Agency for a license to market cannabis-derived medicinal […]
The parent company of the iconic marijuana culture magazine High Times is looking to attract a large number of small investors as the publication works to go public, bolster its brand and shore up a balance sheet mired in debt.
Two multinational insurance companies have given the green light to underwriting cannabis-related businesses in Canada, allowing companies in the burgeoning sector to grow their operations while reducing risks and liabilities. Lloyd’s of London and Hub International both announced plans to enter the cannabis industry in Canada. In a bulletin, Lloyd’s said it would offer insurance […]