Dominica Prime Minister Roosevelt Skerrit said a draft bill paving the way for a regulated marijuana industry will be presented to parliament in the coming weeks. “The Government will forge ahead on the matter of developing a revenue stream, and foreign exchange earnings from a marijuana industry,” Skerrit said when delivering the country’s latest national […]
CBD drug Epidiolex received approval from the U.S. Food and Drug Administration to treat seizures associated with a third medical condition, expanding the range of indications for the cannabis-derived medication. The orally administered drug from Britain’s GW Pharmaceuticals previously was approved by the FDA to treat seizures associated with two forms of severe epilepsy, Lennox-Gastaut […]
The coronavirus pandemic has caused delays for some medical cannabis businesses in Saint Vincent and the Grenadines, but the chief operating officer of the industry’s regulatory body says the sector remains strong. Terral Mapp, COO of the Medicinal Cannabis Authority (MCA), said the marijuana industry has been resilient during the COVID-19 pandemic. The MCA regulates […]
Nevada’s Tax Commission endorsed a partial settlement to resolve a consolidated lawsuit from a group of cannabis companies that claimed the state’s first round of recreational marijuana licensing was unfair. The state issued 61 permits in its adult-use licensing round in late 2018, but critics said the process favored certain well-capitalized businesses over other, smaller players. […]
Already struggling capital markets further tightened by the coronavirus, a declining stock price and an improving legalization outlook for cannabis have combined to derail five of the 10 planned deals in Schwazze’s strategy to consolidate the Colorado market. While COVID-19 actually has improved the long-term investment case for the marijuana industry after state governments deemed […]
Shelf-life stability is no less important to cannabis business owners than it is with traditional food products or dietary supplements.
Week in Review: Cannabis investors eye NJ, program delays in Illinois and Maine, US House votes to protect adult-use markets & more
Some of New Jersey’s medical marijuana operators already are investing heavily to expand cultivation facilities and other infrastructure to prepare for the expected rollout of an adult-use market. Voters will have their say in November. The recreational initiative is expected to pass. MJBizDaily takeaway: If voters do say yes, New Jersey could well develop into […]
Week in Review: Cannabis investors eye NJ, program delays in Illinois and Maine, US House votes to protect adult-use markets & more is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
The $600-a-week subsidy that has kept millions of unemployed Americans afloat since late April was to expire July 31. Congress has been unable to strike a deal to renew or replace the CARES Act, so all sectors of the U.S. economy are fearful of what lies ahead. And that includes the cannabis industry. Read about […]
Ontario’s lone cannabis wholesaler and distributor received the green light from the provincial government to expand its privately operated distribution network when necessary, an Ontario Cannabis Store spokesperson told Marijuana Business Daily. A new distribution warehouse could come sooner than later, according to one analyst, potentially providing the slack the system currently lacks to open […]
Jane Wagner (248) 224-9769 email@example.com www.oozewholesale.com FOR IMMEDIATE RELEASE OAK PARK, Mich. — Ooze Wholesale, a Metro Detroit-based distribution company specializing in dispensary, smoke shop and retail supplies, has attained exclusive distributor rights in a partnership with Stache Products. Stache Products focuses on upscale concentrate vaporizers, and is best known for the RiO Portable Dab […]
Florida-based multistate marijuana and hemp operator Jushi Holdings increased a debt financing announced in late July by roughly $18 million, citing strong demand from shareholders and management. The debt financing, which was meant to fund Jushi’s $37 million purchase of grower-processor Pennsylvania Medical Solutions (PAMS) from Minneapolis-based MSO Vireo Health International, was previously worth $15.25 […]
Rhode Island Gov. Gina Raimondo will continue trying to legalize adult-use marijuana in the state. She sees legal recreational sales as a possible revenue generator, she told Cranston TV station WJAR on Friday morning. “I was in favor of it last year, so I’m continuing to be in favor of it,” Raimondo said during a […]
Berlin-based CanPharma is believed to be the first company to offer in Germany “a German brand of medical cannabis flower sourced from a non-Canadian (owned) production facility,” the firm’s chief financial officer told Marijuana Business Daily. According to CFO David Attwood, the flower is produced in Europe in an EU-Good Manufacturing Practice-certified facility. He declined […]
The U.S. government’s temporary lifeline to tens of millions of unemployed workers – $600 a week in extra jobless benefits – has likely boosted cannabis sales across much of the country amid the coronavirus-induced recession. But that benefit expired July 31, and no new deal was in place to renew the weekly payment in some form. […]
The U.S. House, for the second year in a row, passed an amendment that would prevent the Department of Justice from interfering with state-legal recreational and medical cannabis programs.
Federal securities regulators have accused six people of deceiving investors by promising astounding returns as part of an alleged $25 million scam for a supposed marijuana farm and CBD extraction facility in California.
Maine’s potential $300 million a year recreational marijuana program now is expected to launch sales by the end of the year, according to state officials. That would be more than four years after Mainers legalized adult use, with recent delays stemming from the coronavirus pandemic. The launch date is based on the first group of […]
Canadian holding company FSD Pharma said it’s exiting the marijuana business and relinquishing Health Canada cannabis licenses held by subsidiary FV Pharma. FSD Pharma CEO Raza Bokhari said the decision was made to maximize shareholder value as the company focuses on: Research and development of a compound described as an anti-inflammatory agent for treating hospitalized […]
A former state lawmaker who helped create Maryland’s medical marijuana industry was sentenced to two years in prison for taking bribes for legislative favors, including votes to benefit a medical marijuana company. During Wednesday’s sentencing, U.S. District Judge Catherine Blake said Cheryl Glenn, 69, sold her office to pay her bills and tried to cover […]
(This is the fourth in a series of stories from Marijuana Business Daily examining social equity regulations and business opportunities in key U.S. markets. Part 1 covered Illinois, Part 2 covered Michigan, and Part 3 covered California.) Oregon’s social equity provisions might be lacking compared to other statewide programs, but some industry analysts cite the relatively low barrier […]
Two of the World Health Organization’s (WHO) cannabis scheduling recommendations might face an uphill battle getting adopted later this year by the United Nations’ Commission on Narcotic Drugs (CND). That revelation stems from an analysis of statements made by U.N.-member states at a recent two-day CND meeting. Still, many in the cannabis industry are hoping […]
The Dutch government received 149 applications to grow adult-use marijuana to be sold to coffee shops in the 10 municipalities that are part of an upcoming experiment. The applications now will be evaluated by the government, which recently communicated that “a maximum of 10 growers” are expected to be selected “in early 2021.” Applications were […]
Nevada regulators are investigating three recreational cannabis stores for selling tainted flower, part of a larger, ongoing problem for the state regarding testing of marijuana products. The state’s Cannabis Compliance Board (CCB) and the Department of Taxation told all Nevada cannabis retailers in March to stop selling Cherry OG F3 because the flower failed lab […]
Major Canadian cannabis producer Aphria on Wednesday reported strong quarterly EBITDA growth, despite coronavirus-related impairment charges from its international operations that contributed to a net loss. The Leamington, Ontario-based company reported adjusted EBITDA of 8.6 million Canadian dollars ($6.4 million) for the quarter ended May 31, up 49% from the third quarter. Net revenue grew […]
Efforts to increase social equity funding for adult-use marijuana applicants in Massachusetts and diversify the industry have stalled in this year’s state legislative session. Massachusetts lawmakers declined to endorse a number of last-minute amendments designed to bolster the state’s retail cannabis social equity programs, the Boston Business Journal reported. Massachusetts’s adult-use cannabis program includes social […]
Germany imported 4,126 kilograms (9,096 pounds) of medical cannabis flower for pharmacy dispensing during the first half of 2020, an increase of more than 60% compared to the same period last year, new government data shows. A small part of the imported flower could’ve been re-exported to other European countries, including the Czech Republic, Italy, […]
Amid the ongoing expansion of New Jersey’s medical marijuana market as well as the anticipated victory of recreational legalization at the ballot box in November, some of the state’s cannabis companies are investing heavily in cultivation build-outs and other infrastructure to meet an expected surge in demand. Many industry insiders anticipate the New Jersey marijuana […]
New Jersey marijuana companies invest in infrastructure build-outs ahead of recreational vote is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
The next round of adult-use cannabis licensing in Illinois remains up in the air thanks to a delay in the application scoring process caused by the coronavirus crisis. The delays could be especially costly for cultivators and infusers that, unlike retail applicants, had to secure locations in advance. A state official indicated that KPMG, which […]
Operating a business in the regulated cannabis industry in the United States has always been challenging, and 2020 has been no exception.
Medically Correct, a longtime Denver-based marijuana edibles maker, announced it will not proceed with a proposed acquisition by Schwazze. It’s one of several such deals to fall apart in recent months for Schwazze, also based in Denver. “Our decision to terminate this acquisition comes as we shift our focus toward the development and national expansion […]