(For an analysis of this deal from an investment standpoint, sign up for our new premium subscription service Investor Intelligence.) Massachusetts-based Curaleaf has inked a deal with the CVS pharmacy chain to begin selling hemp products at 800 stores in 10 states. The distribution deal was announced during Curaleaf’s investor and analyst call to discuss its fourth-quarter and […]
Arkansas marijuana entrepreneurs took note as the state Senate passed two bills aimed at restricting medical cannabis’ desirability to children by limiting certain edibles and restricting MMJ advertising. The two bills passed Tuesday codify rules already spelled out by the state’s Alcoholic Beverage Control Division. The measures were sent to the state House for consideration. […]
Nevada cannabis dispensary owners are calling for more training on the state’s mandatory seed-to-sale cannabis tracking software after a state-led audit of marijuana businesses found discrepancies between sales reports and tax returns. According to The Nevada Independent, the Nevada Dispensary Association pointed out the inaccurate entries and “confusion over batching and tagging during program’s rollout” […]
Despite risks, marijuana firms that make or distribute CBD products use e-commerce to build multistate brands
When President Donald Trump penned hemp legalization into law late last year via the Farm Bill, hemp companies obviously cheered. But marijuana entrepreneurs also took careful note, because that landmark decision could offer fresh business opportunities to diversify into a plant now legal under federal law. A growing number of marijuana businesses – and hemp-only […]
Despite risks, marijuana firms that make or distribute CBD products use e-commerce to build multistate brands is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Toronto-based DionyMed Brands, a multistate cannabis brands operator, said it will acquire the 1.8-acre Los Angeles campus of MM Esperanza 2, also known as MMAC, for $19 million. The campus includes a dispensary, distribution and manufacturing facilities and a customer-fulfillment center. In a news release, DionyMed said the deal improves the company’s brands distribution and […]
Australia’s medical cannabis market could surpass 15,000 patient application approvals by the end of this year, with industry revenues totaling roughly 36 million Australian dollars ($25 million), according to an analyst’s forecast. While both totals may seem low by North American standards, they represent “a decent start” for the country’s emerging medical cannabis industry, said […]
Vireo Health, a Minnesota-based multistate operating cannabis company, started trading Wednesday on the Canadian Securities Exchange. Vireo has growing, dispensary and processing operations in six states. Vireo is trading under the ticker symbol VREO. More details can be found here.
Marijuana growers historically have turned to cloning to propagate plant inventory and perpetuate plant genetics.
But the art of cloning, where a cultivator takes a rooted cutting of a mother plant to grow a genetically identical plant, might slowly be going to the wayside in the cannabis sector.
A bill to provide federal protection for banks serving state-legal marijuana businesses is scheduled for markup by a congressional committee next week, a notable development for cannabis banking legislation. Maxine Waters, chair of the House Financial Services Committee, announced that her group will mark up the SAFE Banking Act on March 26, a process that […]
Amyris, a California-based company focused on wellness products, said it has closed a deal potentially worth $300 million with biotech startup Lavvan to research and develop synthetic cannabinoids. The move follows that of Canada’s Cronos Group inking a $122 million deal with Boston-based Ginkgo Bioworks last September to produce lab-grown cannabinoids. Analysts at Toronto-based Paradigm Capital […]
Financially troubled cannabis firm Ascent Industries has agreed to sell its Canadian assets for a cash amount that will be disclosed only after the Supreme Court of British Columbia has signed off on the transaction. Ascent was granted creditor protection in early March to address liquidity issues after its cultivation subsidiary, Agrima Botanicals, was stripped […]
Chicago-based Grassroots said it completed a $90 million capital raise designed to expand the company’s footprint and operations. Grassroots, a vertically integrated cannabis company that operates in 11 states, said in a news release it will use the funds to: Expand cultivation facilities in Illinois, Maryland and Pennsylvania. Build out newly secured dispensary licenses. Bankroll […]
Statutory health insurers in Germany covered 73.7 million euros ($83.7 million) worth of medical cannabis products in 2018, according to new data published by German health insurance agency GKV-Spitzenverband. Pharmacies in the country processed 185,370 prescriptions under the statutory program – which covers roughly 90% of the population – during the year. Private prescriptions are […]
New Jersey took another major step Monday toward legalizing recreational marijuana when Senate and Assembly committees approved an identical measure and sent it to the full Legislature for a vote. The approvals by the Assembly Appropriations and Senate Judiciary committees set up a floor vote as soon as March 25. A bill reached a similar […]
Before joining the cannabis industry as an attorney and business consultant, Pamela Epstein practiced environmental law. Epstein, founder of Los Angeles-based Green Wise Consulting, specialized in the California Environmental Quality Act (CEQA), a law that all companies in the state – cannabis or otherwise – must take into account. It mandates a review of any […]
Kevin Currier has lost sleep over the prospect of vertically integrating his new marijuana business in Michigan.
A Michigan resident, Currier applied for a medical cannabis retail license in Grand Rapids while the state transitions to a recreational market.
But he often wonders whether vertical integration - having a cultivation and retail component to a company - would better position him for success.
Florida’s dozen or so active medical marijuana businesses are expected to see tens of millions of dollars in additional sales by this summer – thanks to a new law that repeals a controversial ban on smokable products. Republican Gov. Ron DeSantis made it official Monday when he signed a bill passed by lawmakers last week. […]
Canadian cannabis cultivation giant Tilray plans to focus on Europe and the U.S. for its upcoming expansion plans after posting higher-than-expected sales in the fourth quarter.
Illinois Treasurer Michael Frerichs warned legislators the state’s medical marijuana industry could collapse if the state doesn’t take action to combat what he called a banking crisis for cannabis businesses. In a statement, Frerichs also asked state lawmakers to support legislation he says would prohibit Illinois regulators from taking any action that would penalize or […]
Massachusetts-based Curaleaf, a vertically integrated cannabis operator, agreed to buy Acres Cannabis for $70 million in a cash and stock deal. Acres Cannabis currently operates 269,000 square feet of cultivation facilities in Nevada with plans to expand that to more than 400,000 square feet. The company also has a flagship dispensary in Las Vegas and […]
New Mexico Gov. Michelle Lujan Grisham is looking to put recreational marijuana legalization back on the agenda for the next legislative session after a bipartisan bill stalled without a Senate vote as the session ended Saturday. The governor said that next year’s limited 30-day legislative session will include marijuana reform proposals. The first-term Democrat complimented […]
Cresco Labs, a Chicago-based vertically integrated cannabis company, agreed to acquire Florida medical marijuana provider VidaCann in a $120 million cash and stock deal. The deal gives Cresco a presence in Florida for the first time, expanding its operations into eight states and giving the company a toehold in a major MMJ market. VidaCann plans […]
Ohio’s medical cannabis sales are off to a healthy start, garnering $1.85 million in under two months, but high prices and limited access to dispensaries have restricted patient participation. Since sales began Jan. 16, the state’s medical marijuana dispensaries have averaged $248,000 in weekly sales – a strong launch to a market estimated to net […]
Michigan regulators announced Friday they’ve selected 57 individuals, including longtime activist Rick Thompson, to participate in work groups that will provide input for the rules that will govern the state’s new recreational marijuana industry. The work groups, which will examine four regulatory topics, are composed of: 14 existing medical marijuana licensees interested in entering the adult-use market. […]
The success of Cresco Labs in the U.S. marijuana market can partly be attributed to its leadership’s experience in navigating complex industry regulations. “Myself and our other co-founders came to cannabis from a banking background and, really, mortgage banking in particular,” said CEO Charlie Bachtell in the latest MJBizDaily Investor Intelligence Executive Webcast. “So, we’ve […]
New Jersey’s medical marijuana program has seen a 150% increase in the number of patients participating since Gov. Phil Murphy took office early last year, a development that has no doubt bolstered sales at the state’s MMJ businesses. The program has added 25,500 patients since January 2018 and now has more than 42,500 patients participating, […]
Oklahoma Gov. Kevin Stitt signed into law regulations governing the state’s rapidly growing medical cannabis industry – rules that aren’t expected to curb the market’s growth. The Republican on Thursday signed a measure known as the “unity bill” because it’s supported by various factions of the cannabis industry. The measure received bipartisan support in the […]
Sales of medical marijuana oil in Canada rose steadily in the months after recreational legalization, bucking a trend seen in some American states that also ended prohibition in recent years. The volume of medical cannabis oil sold in Canada’s regulated market rose to nearly 5,000 kilograms (11,023 pounds) in January compared with the 4,400 kilograms […]
Three weeks before the country goes to the polls, Israeli Prime Minister Benjamin Netanyahu said he would weigh legalizing cannabis if his party wins another term, The Jerusalem Post reported. So far, Canada and Uruguay are the only countries to have created regulated markets for adult-use marijuana. Netanyahu’s conservative Likud party is contending with the centrist Blue and […]