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Oklahoma governor shoots down medical marijuana delivery legislation

Oklahoma’s growing medical cannabis market suffered a rare setback when Gov. Kevin Stitt vetoed a bill that would have allowed home delivery and pre-roll production and sales. The Republican-controlled Legislature passed the bill by a wide margin, so some lawmakers had hoped they could muster an override of the governor’s veto, which occurred last week. […]

Oklahoma governor shoots down medical marijuana delivery legislation is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/oklahoma-gov-shoots-down-medical-marijuana-delivery-legislation/

Cannabis producer Aphria moving US listing to Nasdaq from NYSE

Canadian cannabis cultivator Aphria Inc. is moving its U.S. stock listing to a new venue, departing the New York Stock Exchange (NYSE) in favor of the Nasdaq Global Select Market. The move will take place after markets close on Friday, June 5. Shares of Aphria will start trading on the Nasdaq as of Monday, June […]

Cannabis producer Aphria moving US listing to Nasdaq from NYSE is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/canadian-marijuana-firm-aphria-moving-us-listing-to-nasdaq-from-nyse/

MJBizDaily’s marijuana, hemp discussion groups live on Leafwire

Marijuana Business Daily has launched two cannabis-related discussion groups on Leafwire, a LinkedIn-style digital service for MJ industry professionals. One group focuses on international marijuana business news; the other shares stories about the hemp industry. The two groups will bring MJBizDaily stories directly to the Leafwire audience and are intended to encourage conversation and networking […]

MJBizDaily’s marijuana, hemp discussion groups live on Leafwire is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/mjbizdaily-marijuana-hemp-discussion-groups-live-on-leafwire/

COVID-19 might force distribution delay for Germany’s first cannabis harvest

The first domestic harvest of medical cannabis in Germany, slated for October, could be delayed because of the ongoing coronavirus pandemic, regulators warned. The Federal Institute for Drugs and Medical Devices (BfArM) wrote in updated documentation that “it cannot be ruled out that the first delivery will be delayed” because of COVID-19. The agency previously […]

COVID-19 might force distribution delay for Germany’s first cannabis harvest is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/covid-19-might-force-distribution-delay-for-germanys-first-cannabis-harvest/

Cresco Labs plans to acquire four medical cannabis dispensaries in Ohio

Cresco Labs, a vertically integrated multistate marijuana company, said it agreed to purchase four Ohio medical marijuana dispensaries, currently operated by Verdant Creations, as the Illinois-based company increased its investment in what’s shaping up to be a lucrative market. Cresco will pay $375,000 in cash for each store as well as $500,000 of the company’s […]

Cresco Labs plans to acquire four medical cannabis dispensaries in Ohio is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/cresco-labs-to-acquire-ohio-medical-cannabis-dispensaries/

Chart: North Dakota’s medical marijuana program gathers steam, but challenges remain

After a slow start, North Dakota’s budding medical marijuana industry appears to be finding its footing. Limited access to MMJ, the temporary closure of a dispensary in the state’s most populous city and general complications from the coronavirus pandemic still present hurdles to medical cannabis operators, however. Nearly 15 months after sales began in March […]

Chart: North Dakota’s medical marijuana program gathers steam, but challenges remain is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/north-dakota-medical-marijuana-program-gathers-steam-but-challenges-remain/

Manitoba to open cannabis store market ‘to all prospective retailers’

Manitoba will soon begin taking applications for new cannabis store licenses, opening up the recreational marijuana market in the central Canadian province to all comers. Applications will be accepted starting June 1, but the province will process only one location per applicant at a time. Applicants without any existing stores in Manitoba will be prioritized, […]

Manitoba to open cannabis store market ‘to all prospective retailers’ is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/manitoba-to-open-cannabis-store-market-to-all-prospective-retailers/

Why some cannabis executives are refocusing their M&A goals

Thanks to a drop in business valuations and difficulties obtaining capital, mergers and acquisitions in the marijuana sector are happening much slower than they did as recently as 2018.

Why some cannabis executives are refocusing their M&A goals is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/why-some-cannabis-executives-are-refocusing-their-ma-goals/

Week in Review: MA adult-use cannabis stores reopening, High Times deal unravels, Acreage ‘reset’ & more

Massachusetts recreational marijuana retail stores will be allowed to reopen May 25, but sales will be limited to curbside pickup and online or telephone orders. MJBizDaily takeaway: This ends an expensive shutdown and a sore point for rec store operators in Massachusetts, who have seen counterparts across the country generally treated as essential businesses. Gov. Charlie […]

Week in Review: MA adult-use cannabis stores reopening, High Times deal unravels, Acreage ‘reset’ & more is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/week-in-review-ma-adult-use-cannabis-stores-reopening-high-times-deal-unravels-aurora-books-its-us-ticket-acreage-reset-more/

Webinar to look at product preferences among marijuana consumers

Product preferences among cannabis consumers across the country will be the focus of a free webinar that Marijuana Business Daily is presenting Tuesday, May 26. MJBizDaily‘s data editor, Eli McVey will speak, with Nancy Whiteman, CEO of Boulder, Colorado-based edibles company Wana Brands, and Liz Conners, data analyst for Seattle-based Headset. The three will discuss […]

Webinar to look at product preferences among marijuana consumers is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/webinar-to-look-at-product-preferences-among-marijuana-consumers/

Canadian cannabis sales surged in March amid COVID-19, data shows

Retail sales of regulated cannabis in Canada soared in March, growing 19% on a monthly basis to a record 181 million Canadian dollars ($129 million). The March retail sales figures from Canada’s national data bureau confirm what industry sources told Marijuana Business Daily that month: Consumers flocked to cannabis stores to stock up as public […]

Canadian cannabis sales surged in March amid COVID-19, data shows is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/canadian-cannabis-sales-surged-in-march-amid-covid-19-data-shows/

Jamaica plans to maintain ‘functional’ cannabis market amid pandemic

Jamaica published details about the “Business Continuity Plan” it has implemented to maintain a functional and expanding cannabis industry amid the COVID-19 pandemic. Part of the plan involves the Cannabis Licensing Authority (CLA) using “remote” means to monitor harvests and other medical cannabis operations. “This is to allow for the continuity of activities on licensed […]

Jamaica plans to maintain ‘functional’ cannabis market amid pandemic is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/jamaica-unveils-plan-to-maintain-functional-cannabis-market-amid-pandemic/

Signs point to possible illicit cannabis activity in L.A. blast, report says

The Los Angeles Fire Department has launched a review of all smoke and vape shops in the city to ensure they’re storing explosive materials correctly after a recent explosion at Smoke Tokes that injured a dozen firefighters. According to the Los Angeles Times, the LAFD will be working to identify all similar businesses and ensuring those […]

Signs point to possible illicit cannabis activity in L.A. blast, report says is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/signs-point-to-possible-illicit-cannabis-activity-in-los-angeles-explosion/

How US cannabis growers are keeping a tight lid on costs as recession looms

As the coronavirus pandemic plunges the U.S. economy into a sharp downturn, cannabis cultivators are managing finances by rethinking capital improvements and finding any area possible to lower costs. Although demand remains strong for marijuana in many state markets, prudent cannabis cultivation executives are planning for the worst and tightening their belts. Some have become more self-reliant […]

How US cannabis growers are keeping a tight lid on costs as recession looms is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/how-american-cannabis-growers-are-containing-costs-as-recession-looms/

Marijuana MSO Harvest announces layoffs, other pivots in $24M cost-cutting

Arizona-based multistate cannabis operator Harvest Health & Recreation revealed that it recently cut $24 million in expenditures – including laying off an undisclosed number of workers – in an effort to “rightsize” the company’s operations. According to the Phoenix Business Journal, Harvest disclosed during a May 20 earnings call that a “small amount” of the […]

Marijuana MSO Harvest announces layoffs, other pivots in $24M cost-cutting is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/harvest-heath-and-recreation-announces-layoffs-other-pivots-in-24-million-cost-cutting/

Prince Edward Island to reopen cannabis stores with restrictions

Licensed recreational cannabis stores in Prince Edward Island will reopen on May 22 “with limited access,” the government-operated marijuana retailer announced. All four PEI Cannabis stores on the island were closed on short notice in March in response to the COVID-19 pandemic, although online sales continued. The reopened stores will feature public health measures, including: Restricting […]

Prince Edward Island to reopen cannabis stores with restrictions is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/prince-edward-island-to-reopen-cannabis-stores-with-restrictions/

High Times’ deal to buy cannabis grow, processing facilities falls apart

High Times Holding Corp.’s move to expand into marijuana operations hit a snag with the collapse of a deal to buy a cultivation and processing business in California. The parent of the iconic High Times magazine said in a U.S. Securities and Exchange Commission filing that its planned acquisition of Humboldt Heritage was terminated by “mutual agreement” […]

High Times’ deal to buy cannabis grow, processing facilities falls apart is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/high-times-deal-to-buy-cannabis-cultivation-processing-facilities-falls-apart/

Nevada marijuana sales up 20% in 2019, but COVID-19 slows progress

Nevada marijuana sales for 2019 reached $692 million, a 20% increase from fiscal year 2018, but lost sales stemming from the market disruption caused by the coronavirus pandemic is throwing cold water on future projections. That information comes from a new study by Las Vegas-based RCG Economics. The report, “2020 Marijuana Economic & Fiscal Benefits Analysis: […]

Nevada marijuana sales up 20% in 2019, but COVID-19 slows progress is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/nevada-marijuana-sales-up-20-percent-in-2019-but-covid-19-impact-slows-progress/

Uruguay exports largest-ever shipment of high-THC flower, but buyer remains a mystery

A shipment of medical cannabis exported from Uruguay in late 2019 to Europe is raising eyebrows, both about the buyer’s identity and the cargo’s sheer size. The 1,000-kilogram (2,205-pound) shipment of high-THC cannabis flower was legally exported from Uruguay to Portugal late last year, according to Uruguayan customs documents viewed by Marijuana Business Daily.  By comparison, […]

Uruguay exports largest-ever shipment of high-THC flower, but buyer remains a mystery is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/uruguay-exports-largest-ever-shipment-of-high-thc-flower-but-the-buyer-remains-a-mystery/

British Columbia books record tax revenue from cannabis sales

British Columbia’s monthly share of the federal excise duty on adult-use cannabis hit a fresh high as the province continued to execute its plan to greatly expand the number of privately and publicly owned marijuana stores. For December, British Columbia’s share of the federal excise tax was 2.5 million Canadian dollars ($1.8 million) – the […]

British Columbia books record tax revenue from cannabis sales is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/british-columbia-sees-record-tax-revenue-from-cannabis-sales/

Aurora Cannabis follows through with promised US entry via $40 million hemp deal

Canadian producer Aurora Cannabis has struck a $40 million stock deal to purchase U.S. hemp firm Reliva, checking off a long-stated ambition for the Alberta company’s executives to enter the United States market. Under the terms of the acquisition, Aurora will pay $40 million of its common shares. The company will pay an an additional […]

Aurora Cannabis follows through with promised US entry via $40 million hemp deal is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/aurora-cannabis-acquires-reliva-hemp-for-40-million/

Cannabis firm Green Growth Brands gets initial creditor protection

Ohio-based marijuana retailer Green Growth Brands said Wednesday it has filed for insolvency protection in Canada. The financially troubled multistate operator – with operations in Florida, Massachusetts and Nevada – trades on the U.S. over-the-counter markets as GGBXF and on the Canadian Securities Exchange as GGB. Former Green Growth Brands CEO Peter Horvath, who resigned from the […]

Cannabis firm Green Growth Brands gets initial creditor protection is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/cannabis-firm-green-growth-brands-gets-initial-creditor-protection/

LivWell continues Colorado expansion, buys marijuana retail chain Mindful

Colorado-based LivWell Enlightened Health continued its acquisition spree this month with the purchase of competing retail chain Mindful, which owns five cannabis stores in the state. According to Denver alt-weekly Westword, the acquisition expands LivWell’s footprint to 22 storefronts in Colorado with the addition of Mindful’s shops in Aurora, Berthoud, Colorado Springs and Denver to […]

LivWell continues Colorado expansion, buys marijuana retail chain Mindful is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/livwell-continues-colorado-expansion-buys-marijuana-retail-chain-mindful/

Maine’s largest city OKs adult-use cannabis, caps store licenses at 20

Portland, Maine, has opted into the state’s recreational marijuana industry with plans that call for 20 retail licenses and a scoring bonus for applicants who have been residents for at least five years. The City Council of Maine’s biggest city voted 8-1 to approve the proposed licensing ordinance after more than a year of deliberations, […]

Maine’s largest city OKs adult-use cannabis, caps store licenses at 20 is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/portland-maine-approves-recreational-marijuana-and-caps-store-licenses-at-20/

Cannabis stores coming to Canada’s remote Nunavut territory

The government of Nunavut will soon accept applications for cannabis stores, bringing bricks-and-mortar recreational marijuana storefronts to the only Canadian jurisdiction that still doesn’t have any. License applications will be accepted starting June 1 through the territory’s department of finance. “Nunavut’s cannabis legislation and regulations have a broad range of requirements that licensed cannabis retailers […]

Cannabis stores coming to Canada’s remote Nunavut territory is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/cannabis-stores-coming-to-canadas-remote-nunavut-territory/

Michigan expands parameters of marijuana social equity program

Michigan is again revamping its marijuana social equity program in an attempt to draw more entrepreneurs impacted by the war on drugs into the industry. To date, the program has awarded only two recreational marijuana business licenses – for an event organizer and a retailer – though 172 applicants have been deemed eligible for permits, […]

Michigan expands parameters of marijuana social equity program is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/michigan-expands-parameters-of-marijuana-social-equity-program/

Korean sovereign fund buys into cannabis as Canadian fund slashes Canopy stake

South Korea’s sovereign wealth fund bought up three Canadian cannabis stocks as they dipped to 52-week lows in the first quarter of 2020. Though the value of the cannabis holdings is a modest $8 million, it is the latest sign the stigma associated with the legal industry is slowly eroding in international finance circles. Seoul-based […]

Korean sovereign fund buys into cannabis as Canadian fund slashes Canopy stake is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/korean-sovereign-wealth-fund-dips-into-canadian-cannabis-sector/

Ontario’s ‘virtual inspections’ of cannabis stores keep industry growing

Cannabis store entrepreneurs are crediting Ontario’s regulator for its quick transition to a virtual inspection regime amid the coronavirus pandemic, saying the move has been key to increasing the number of legal stores in a province facing a serious retail shortage. The Alcohol and Gaming Commission of Ontario (AGCO) has conducted hundreds of virtual inspections […]

Ontario’s ‘virtual inspections’ of cannabis stores keep industry growing is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/ontario-canada-virtual-inspections-benefit-cannabis-stores-industry/

10 tips for US cannabis businesses facing an economic downturn

With businesses around the country shuttered and millions of Americans out of work because of the coronavirus pandemic, the U.S. is facing its gravest economic crisis since the Great Depression.

10 tips for US cannabis businesses facing an economic downturn is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/10-tips-cannabis-businesses-should-follow-in-an-economic-downturn/