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New Jersey looks to double medical cannabis businesses

With patient numbers surging and supply problems escalating in New Jersey, Gov. Phil Murphy’s administration is expected to call for six more medical cannabis providers allowed in the state. That would bring the total number of medical marijuana companies in the state to 12. State regulations mandate that MMJ businesses be vertically integrated. The Department […]

New Jersey looks to double medical cannabis businesses is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/new-jersey-looks-to-double-medical-cannabis-businesses/

Chart: Can medical marijuana programs survive in states with recreational markets?

Medical marijuana programs in states that went on to legalize adult-use cannabis are suffering.

Data from MMJ programs in Colorado, Oregon and Nevada - the only states with both an active recreational marijuana industry and a pre-existing MMJ patient database - shows patient counts steadily declining in the months and years following the launch of each state’s adult-use market.

Chart: Can medical marijuana programs survive in states with recreational markets? is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/chart-can-medical-marijuana-programs-survive-in-states-with-recreational-markets/

California publishes first draft of permanent marijuana industry rules

The trio of state agencies that oversees California's marijuana program on Friday published the long-awaited first draft of permanent rules for the state's multibillion-dollar MJ industry.

California publishes first draft of permanent marijuana industry rules is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/california-publishes-first-draft-permanent-marijuana-industry-rules/

Terra Tech sells Las Vegas retail cannabis shop for $6.2 million

One of the larger publicly traded marijuana companies in the United States announced the sale Thursday of one of its assets, a Nevada cannabis retail storefront, for $6.25 million. Terra Tech sold a 3,900-square-foot shop – located just north of the Las Vegas strip – to Exhale Brands Nevada, according to a news release. The facility […]

Terra Tech sells Las Vegas retail cannabis shop for $6.2 million is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/terra-tech-sells-las-vegas-retail-marijuana-shop-for-6-2-million/

Week in Review: Good news for Michigan medical marijuana, Oklahoma market narrows & Maine veto override

The Michigan medical marijuana industry sees an expansion of qualifying conditions and new licenses, Oklahoma adopts emergency medical cannabis rules, and Maine’s MMJ market opens up in new ways. Here’s a closer look at some notable developments in the cannabis industry over the past week. Kick the can? The Michigan medical marijuana industry got a double […]

Week in Review: Good news for Michigan medical marijuana, Oklahoma market narrows & Maine veto override is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/wir-maine-michigan-and-oklahoma/

Medical marijuana growth in Canada stalls as stockpiles rise

Canada's medical cannabis companies are bolstering inventories ahead of legalization, even while signing up fewer new patients than ever, indicating an industry-wide shift in focus to meeting demand in the upcoming recreational market.

Medical marijuana growth in Canada stalls as stockpiles rise is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/medical-cannabis-growth-canada-stalls-stockpiles-rise/

New York adds medical cannabis as opioid substitute; sales boost expected

New York regulators on Thursday approved medical marijuana as an alternative to opioids, a move expected to spur sales significantly in what’s been a highly regulated market. The emergency rule announced by the State Department of Health is effective immediately. The state said temporary ID cards would be available for certified patients so they could […]

New York adds medical cannabis as opioid substitute; sales boost expected is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/new-york-adds-medical-cannabis-as-opioid-substitute-sales-boost-expected/

Hawaii dispensaries to allow reciprocity from any US medical cannabis cardholder

Changes to Hawaii’s medical marijuana laws will allow dispensaries to sell cannabis to registered MMJ cardholders from any U.S. state, a move that could significantly boost sales given the droves of tourists that visit the state annually. Beginning next year, visitors to the Aloha State registered with the medical cannabis program in their U.S. state […]

Hawaii dispensaries to allow reciprocity from any US medical cannabis cardholder is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/hawaii-dispensaries-to-allow-reciprocity-from-any-us-medical-cannabis-cardholder/

Cannabis boom or bust: How US firms could be affected by Canada’s adult-use market

It’s crunch time for Canada’s cannabis companies as they hustle to prepare for the October launch of the country’s legal recreational market. South of the border, everyone tied to the legal marijuana scene is watching closely to gauge whether this historic milestone might translate into an economic boom for U.S. firms as well. Tremendous opportunities […]

Cannabis boom or bust: How US firms could be affected by Canada’s adult-use market is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/cannabis-boom-or-bust-how-us-firms-could-be-affected-by-canadas-adult-use-market/

There’s movement toward federal marijuana reform – but when?

The feds are coming. And, in this case, that’s good news.

The chances of serious marijuana reform in the halls of Congress have increased dramatically in recent months, with major political names from both Republican and Democratic camps embracing the cause of changing federal cannabis laws.

There’s movement toward federal marijuana reform – but when? is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/united-states-marijuana-reform/

Federal prosecutor in MA to keep eye on recreational cannabis production

The top federal prosecutor in Massachusetts indicated he will take a mostly hands-off approach to the state’s impending adult-use marijuana industry, narrowing his office’s focus to overproduction that could lead to sales across state lines. “These out-of-state sales are nearly always cash transactions and so often involve federal tax fraud designed to hide the illicit […]

Federal prosecutor in MA to keep eye on recreational cannabis production is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/federal-prosecutor-in-massachusetts-to-keep-eye-on-recreational-cannabis-production/

Arkansas awards five medical cannabis grow licenses, but sales still long way off

Arkansas awarded licenses to five marijuana cultivation companies after a court injunction suspending the licensing process was lifted. The state’s Medical Marijuana Commission issued licenses to: Natural State Medicinals Cultivation Bold Team Natural State Wellness Enterprises Osage Creek Cultivation Delta Medical Cannabis Co. Each company paid a $100,000 license fee and a $500,000 performance bond. With the […]

Arkansas awards five medical cannabis grow licenses, but sales still long way off is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/arkansas-awards-five-medical-cannabis-grow-licenses-but-sales-still-long-way-off/

Marijuana M&A activity spikes as some cannabis pioneers cash out

Merger and acquisition activity is accelerating across the cannabis industry as more companies land multimillion-dollar capital infusions and ink deals aimed at growing market share. The momentum is giving more company founders an opportunity to cash out at an attractive price – or leverage the deals to launch their next venture. The flurry of activity […]

Marijuana M&A activity spikes as some cannabis pioneers cash out is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/marijuana-ma-activity-spikes-as-some-cannabis-pioneers-cash-out/

Surviving hacks and other tumult: Q&A with MJ Freeway CEO Jessica Billingsley

As a co-founder of MJ Freeway, one of the best-known names among cannabis seed-to-sale companies, Jessica Billingsley is widely seen as an industry pioneer.

When she and Amy Poinsett co-founded the Denver firm in 2010, seed-to-sale tracking wasn’t a thriving sector.

Today, it’s an indispensable element of the marijuana industry, and the firm has processed more than $10 billion in legal cannabis transactions.

Surviving hacks and other tumult: Q&A with MJ Freeway CEO Jessica Billingsley is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/surviving-hacks-and-other-tumult-qa-with-jessica-billingsley-ceo-of-mj-freeway/

Canopy Growth to acquire craft marijuana retailer Hiku Brands for CA$269 million

Ontario, Canada-based Canopy Growth has inked a deal to acquire Hiku Brands, a retail-focused craft cannabis producer. Under terms of the deal, Hiku shareholders will receive 0.046 of a Canopy Growth share in exchange for each common share of Hiku. That’s equal to 1.91 Canadian dollars ($1.46) per Hiku share, or about CA$269 million. The […]

Canopy Growth to acquire craft marijuana retailer Hiku Brands for CA$269 million is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/canopy-growth-to-acquire-craft-marijuana-retailer-hiku-brands/

OK adds limits to medical cannabis rules including restriction on smokable MMJ

The wide-open medical marijuana measure approved by Oklahoma voters just got more restrictive after state health regulators took steps to prohibit the sale of smokable cannabis and require dispensaries to employ a pharmacist. That’s not good news for entrepreneurs looking forward to the potential of an unrestricted market. Immediately after Oklahoma’s landmark June 26 vote, Marijuana Business Daily projected […]

OK adds limits to medical cannabis rules including restriction on smokable MMJ is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/oklahoma-adds-restrictions-to-medical-cannabis-rules-fueling-concern/

New York calls on banks to work with medical marijuana industry

New York state's top financial officials have joined the growing chorus of regulators and business leaders calling on banks to work with the legal marijuana industry. Many financial institutions remain wary of possible sanctions for servicing businesses considered federally illegal.

New York calls on banks to work with medical marijuana industry is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/new-york-calls-on-banks-to-work-with-medical-marijuana-industry/

North Dakotans may see recreational cannabis initiative on November ballot

Supporters of legalizing adult-use marijuana in North Dakota submitted nearly 19,000 signatures to state officials, which was significantly more than the 13,500 needed to get the measure on the November ballot. The initiative would remove marijuana from the controlled substances list, making the plant legal for people 21 years and older, The Bismarck Tribune reported. […]

North Dakotans may see recreational cannabis initiative on November ballot is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/north-dakotans-may-see-recreational-cannabis-initiative-on-november-ballot/

Connecticut retailers, growers at odds on how to serve growing medical cannabis demand

Connecticut’s medical marijuana growers and retailers are at loggerheads over the state’s plan to expand its MMJ program to meet growing consumer demand for products. The state has proposed adding up to 10 more dispensaries to serve Connecticut’s growing patient pool, an increase that would more than double the number of retailers. But some dispensary […]

Connecticut retailers, growers at odds on how to serve growing medical cannabis demand is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/connecticut-retailers-growers-at-odds-on-how-to-serve-growing-medical-cannabis-demand/

Michigan adds 11 medical marijuana qualifying conditions

Michigan regulators added 11 new ailments to the list of qualifying conditions for medical marijuana, potentially giving a big boost to a market that is already home to one of the largest MMJ patient pools in the country. According to Mlive.com, the new conditions are: Arthritis Autism Chronic pain Colitis Inflammatory bowel disease Obsessive compulsive […]

Michigan adds 11 medical marijuana qualifying conditions is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/michigan-adds-11-new-qualifying-conditions-for-medical-marijuana/

Cannabis firm Tilray outlines IPO terms ahead of listing on Nasdaq

Tilray, a Canadian marijuana company owned by Seattle private equity firm Privateer Holdings, unveiled the terms of a previously announced initial public offering. The British Columbia-based company, which filed for the IPO last month, plans to issue 9 million shares of its common stock priced between $14 and $16 (CA$18.40 and  CA$21) a share. The IPO […]

Cannabis firm Tilray outlines IPO terms ahead of listing on Nasdaq is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/cannabis-firm-tilray-outlines-ipo-terms-ahead-of-listing-on-nasdaq/