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MA picks Franwell’s Metrc for cannabis seed-to-sale traceability system

Massachusetts marijuana regulators have selected Florida-based Franwell’s Metrc program to serve as the state’s seed-to-sale traceability system. According to The Boston Globe, the Massachusetts Cannabis Control Commission budgeted about $750,000 for the system, which is intended to help states prevent diversion of cannabis to the black market. Here’s what you need to know: Using Metrc’s system adds […]

MA picks Franwell’s Metrc for cannabis seed-to-sale traceability system is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/massachusetts-picks-franwells-metrc-states-cannabis-seed-sale-traceability-system/

Canopy enlists first major bank to lead CA$175M marijuana equity financing

Canopy Growth became the first marijuana company in Canada to enlist a major Canadian bank to lead an equity-based funding, signaling a greater willingness by big financial institutions to provide financing to the nation’s cannabis businesses. Bank of Montreal subsidiary, BMO Capital Markets, and GMP Capital are co-leading the stock-purchase deal that will allow Canopy to […]

Canopy enlists first major bank to lead CA$175M marijuana equity financing is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/canopy-enlists-first-major-canadian-bank-lead-ca175m-marijuana-equity-financing/

New York is considering recreational cannabis legalization

New York’s governor is urging state lawmakers to provide funding to establish a commission that would study the feasibility of legalizing adult-use marijuana in the state. The study would explore recreational legalization’s health effects, economic impact, criminal justice impact and how recreational legalization by some of New York’s neighbors would affect the state, according to Buffalo […]

New York is considering recreational cannabis legalization is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/new-york-considering-recreational-cannabis-legalization/

Canadian marijuana companies opening wallets to tap California market

A handful of Canadian marijuana companies are already knee-deep in California, deploying millions of dollars in cultivation facilities, retail outlets and branded products to establish a footprint in the world’s largest marijuana market. Executives at the companies – whose shares trade on the Canadian Securities Exchange (CSE) – said they hope to capitalize on: Access to […]

Canadian marijuana companies opening wallets to tap California market is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/canadian-marijuana-companies-opening-wallets-tap-california-market/

Canadian-listed marijuana company buys Florida MMJ license holder for $48M

A New York-based marijuana investment company used cash and its Canadian-listed shares to fund a $48 million acquisition of a licensed medical marijuana business in Florida. iAnthus Capital Holdings, an investor in U.S. marijuana businesses, bought Florida’s GrowHealthy Holdings for $30.5 million in stock and $17.5 million in cash. GrowHealthy and its affiliate, McCrory’s Sunny Hill […]

Canadian-listed marijuana company buys Florida MMJ license holder for $48M is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/canadian-listed-marijuana-company-buys-florida-license-holder-48m/

Nevada closes in on permanent cannabis rules, but growers unhappy

After a contentious public comment session, Nevada’s marijuana regulators voted to make permanent most of the temporary rules that allowed the state to get an early start on its recreational cannabis industry. The updated rules were approved unanimously by the Nevada Tax Commission on Tuesday but still must be approved by the Legislative Commission before the […]

Nevada closes in on permanent cannabis rules, but growers unhappy is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/nevada-closes-permanent-cannabis-rules-growers-unhappy/

Crowdfunding effort nets CA$6.2M for Canadian hemp, marijuana company

A new crowdfunding method aimed at smaller investors helped a Canadian cannabis company raise 6.2 million Canadian dollars ($4.1 million). True Leaf Medicine, a company in Vernon, British Columbia, that makes hemp-derived treatments for animals and marijuana products for humans, launched its so-called Regulation A+ stock offering last November. The company plans to use the money […]

Crowdfunding effort nets CA$6.2M for Canadian hemp, marijuana company is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/crowdfunding-effort-nets-ca6-2m-canadian-hemp-marijuana-maker/

Maine delays cannabis social clubs until 2023

In another delay for Maine’s recreational marijuana industry, a legalization panel has voted to delay marijuana social clubs until 2023. The Marijuana Legalization Implementation Committee voted 5-1 to stall social club licensing, the Portland Press Herald reported. Committee members said they want to wait so Maine can learn from other states looking to implement cannabis […]

Maine delays cannabis social clubs until 2023 is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/maine-delays-cannabis-social-clubs-2023/

Judge orders Illinois to add intractable pain as a medical marijuana condition

An Illinois judge has ruled the state must add intractable pain to the list of medical marijuana qualifying conditions, a move that could greatly expand sales at the program’s 53 dispensaries. The state health department initially rejected intractable pain as a condition, but Cook County Judge Raymond Mitchell ordered the department to include it, the Chicago […]

Judge orders Illinois to add intractable pain as a medical marijuana condition is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/illinois-adds-intractable-pain-medical-marijuana-condition/

Starting up, scaling and moving on: Q&A with cannabis pioneer Tripp Keber

Tripp Keber took many by surprise in December when he stepped down as CEO of Denver-based Dixie Brands, one of the most successful multistate companies in the marijuana industry.

His decision to exit the edibles company seemed to come out of the blue. But, in fact, it was more than a year in the making.

The notion to leave Dixie took root in late 2016, when Keber started reading John Hamm's Harvard Business Review article, “Why Entrepreneurs Don’t Scale.”

Starting up, scaling and moving on: Q&A with cannabis pioneer Tripp Keber is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/starting-scaling-ascertaining-ones-strengths-weaknesses-qa-tripp-keber-managing-partner-rose-capital/

19 attorneys general urge Congress to give cannabis states access to banking

A letter to 10 major Congressional leaders from 19 attorneys general asks Congress to push through legislation that would allow states with medical or recreational marijuana laws to bank as other business do. The group suggests that Congress give special attention to measures such as the Secure and Fair Enforcement Banking Act (SAFE). Congressman Ed Perlmutter, D-Colorado, introduced […]

19 attorneys general urge Congress to give cannabis states access to banking is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/19-attorneys-general-urge-congress-give-cannabis-states-access-banking/

Prince Edward Island taps marijuana growers; will use government-owned shops

Prince Edward Island has tapped three licensed producers to supply it with marijuana, while the province plans to sell adult-use cannabis products through four government-owned stores when sales are legalized this year. The move means neighboring Newfoundland will be the only province east of Manitoba to involve the private sector in marijuana sales. In announcing its […]

Prince Edward Island taps marijuana growers; will use government-owned shops is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/prince-edward-island-taps-marijuana-producers-will-use-government-owned-stores/

Slew of restrictive medical cannabis bills proposed in Arizona

A proposed law in Arizona would make publishing the incorrect address of a cannabis dispensary a felony. According to the Phoenix New Times, three “prohibitionist” Arizona lawmakers are trying out new ideas to stymie the state’s medical marijuana program and prevent a recreational program from becoming a reality. The proposed bills also would: Prohibit dispensaries […]

Slew of restrictive medical cannabis bills proposed in Arizona is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/slew-restrictive-medical-cannabis-bills-proposed-arizona/

Sessions’ marijuana antagonism spooks hemp industry, but some see silver lining

Attorney General Jeff Sessions didn’t have hemp in mind when he repealed Obama-era protections for state-legal marijuana businesses. But his Jan. 4 announcement sent shock waves into the hemp industry, too, leaving entrepreneurs scrambling to reassure skittish investors. It’s been a rocky couple of weeks for hemp entrepreneurs. That’s despite the fact that hemp’s legal […]

Sessions’ marijuana antagonism spooks hemp industry, but some see silver lining is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/__trashed-4/

Order could force PA to reveal more about medical marijuana applicants

Pennsylvania’s medical marijuana regulators must disclose more information about business license applicants under a ruling by the state’s Office of Open Records. The decision by an appeals officer requires the Pennsylvania health department to make public the names of principals, operators and financial backers for MMJ cultivators and dispensary applicants, the Tribune-Review reported. However, no […]

Order could force PA to reveal more about medical marijuana applicants is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/pa-regulators-ordered-reveal-medical-marijuana-applicants/

Canadian regulatory group reviews US risk disclosure for cannabis stocks

An umbrella group for Canada’s securities regulators is reviewing whether its disclosure-based guidelines for companies with U.S. marijuana-related activities remain appropriate in light of Attorney General Jeff Sessions’ decision to revoke Obama-era protections for state-legal MJ businesses. The move by the Canadian Securities Administrators (CSA) comes after the organization issued disclosure-related guidelines last fall. Fifty-six […]

Canadian regulatory group reviews US risk disclosure for cannabis stocks is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/canadian-stock-regulatory-group-reviews-u-s-risk-disclosure-cannabis-companies/

Reporter’s California Notebook: Regulated marijuana market an adjustment for some growers

Marijuana Business Daily reporter John Schroyer is on the ground in California, posting firsthand accounts detailing the historic, Jan. 1 launch of the state’s recreational marijuana market. Scroll down for an inside account from cannabis business executives pioneering the state’s new adult-use market, which Marijuana Business Daily estimates will generate at least $4 billion in annual retail sales […]

Reporter’s California Notebook: Regulated marijuana market an adjustment for some growers is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/reporters-california-notebook-regulated-marijuana-market-adjustment-growers/

CBD confusion mounts in Iowa as police seize goods but don’t always test for THC

Iowa police who’ve been seizing CBD products off stores shelves have in some cases not been testing them to see if they contain illegal THC, adding to the confusion surrounding cannabidiol’s legal status in the state. Authorities have seized oils, lotions and candies containing CBD in at least two jurisdictions, the Des Moines Register reported. Some […]

CBD confusion mounts in Iowa as police seize goods but don’t always test for THC is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/cbd-confusion-mounts-iowa-police-seize-goods-dont-always-test-thc/

Oregon marijuana retailers busted in underage-sales sting

Nearly 20% of state-licensed marijuana retailers in a recent undercover operation sold cannabis to underage buyers, according to Oregon authorities. The Oregon Liquor Control Commission told The Oregonian that 16 of 86 shops sold marijuana to people younger than 21 during decoy visits in December. The agency issued citations to the violating stores, which also […]

Oregon marijuana retailers busted in underage-sales sting is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/oregon-marijuana-retailers-busted-underage-sales-sting/

Los Angeles issues first licenses for cannabis sales

A medical marijuana dispensary and recreational retail store in Los Angeles have received temporary licenses from the city to sell cannabis. Mother Nature’s Remedy Caregivers in Woodland Hills and WHTC in Studio City received L.A.s’ first MMJ and adult-use permits, LA Weekly reported. The two facilities now need approval only from state regulators to begin […]

Los Angeles issues first licenses for cannabis sales is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/los-angeles-issues-first-licenses-cannabis-sales/

Canadian marijuana grower spends CA$233M on British Columbia, Australia deals

One of Canada’s largest licensed medical marijuana producers got even bigger, buying rival British Columbia cultivator Broken Coast Cannabis for 230 million Canadian dollars ($185 million) in stock and cash. Aphria, based in Leamington, Ontario, also expanded its presence in Australia, purchasing a 25% stake in an Australian MMJ producer for CA$2.5 million. Aphria’s acquisition […]

Canadian marijuana grower spends CA$233M on British Columbia, Australia deals is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/canadian-marijuana-producer-aphria-spends-ca232m-deals-british-columbia-australia/

Cannabis grow-equipment company GrowGeneration raises $9 million

GrowGeneration, a multistate operator of retail hydroponic and organic gardening stores serving marijuana growers, said it raised $9 million through the offering of convertible notes. The Denver company said in a news release filed with the Securities and Exchange Commission that it plans to use the proceeds to expands its operations. CEO Darren Lampert said […]

Cannabis grow-equipment company GrowGeneration raises $9 million is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/cannabis-grow-equipment-company-growgeneration-raises-9m/

Chart: Pennsylvania’s medical marijuana market set to become one of the country’s biggest

Sales of medical marijuana are expected to begin in Pennsylvania this spring, with the state poised to become one of the largest MMJ markets in the nation. With cultivation underway and both patients and doctors registering with the program, the state’s MMJ market is progressing ahead of schedule – a rarity in the cannabis industry. […]

Chart: Pennsylvania’s medical marijuana market set to become one of the country’s biggest is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/chart-pennsylvanias-medical-marijuana-market-set-become-one-countrys-biggest/

Reporter’s California Notebook: Regulators, growers share concerns about state’s marijuana industry

Marijuana Business Daily reporter John Schroyer is on the ground in California, posting firsthand accounts detailing the historic, Jan. 1 launch of the state’s recreational marijuana market. Scroll down for an inside account from cannabis business executives pioneering the state’s new adult-use market, which Marijuana Business Daily estimates will generate at least $4 billion in annual retail sales […]

Reporter’s California Notebook: Regulators, growers share concerns about state’s marijuana industry is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/reporters-california-notebook-regulators-growers-share-concerns-states-marijuana-industry/

Provincial Preview: Quebec cannabis market isn’t the entrepreneurial wasteland you might think it is

Quebec’s nascent marijuana industry may be home to a disproportionately small number of licensed producers and off-limits to entrepreneurs in the retail sector, but that doesn’t mean the province lacks opportunity.

You just need to know where to look, particularly among cannabis-related ancillary businesses.

The province's medical market, for one, has nowhere to go but up.

Provincial Preview: Quebec cannabis market isn’t the entrepreneurial wasteland you might think it is is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/market-snapshot-quebec-marijuana-market-isnt-entrepreneurial-wasteland-think/

Congress members defend CBD, blast DEA’s hemp decision

In a bold show of support for the hemp industry and CBD, 28 members of Congress are asking a federal appeals court to reject the Drug Enforcement Administration’s argument that cannabidiol is a Schedule 1 drug. The Congress members filed the brief Thursday in conjunction with a pending lawsuit against the DEA. The 9th Circuit Court […]

Congress members defend CBD, blast DEA’s hemp decision is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/congress-members-defend-cbd-blast-deas-hemp-decision/

Report: Marijuana banking protections intact – for now

Financial institutions that serve marijuana businesses still have federal protections – at least for now – outlined in a February 2014 memo from the Financial Crimes Enforcement Network (FinCEN), Reuters reported. The report comes after Attorney General Jeff Sessions last week revoked certain Obama-era protections for the legal marijuana industry. FinCEN is a U.S. Treasury Department […]

Report: Marijuana banking protections intact – for now is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/report-marijuana-banking-protections-intact/

Cannabis compliance firm Simplifya secures first stage of $3 million raise

At a time when adhering to regulations is key for marijuana businesses, Denver-based compliance software company Simplifya has secured $1 million in the first stage of a Series B funding round. Simplifya said it has additional investors lined up to close a total funding round of $3 million. According to a news release, the raise was […]

Cannabis compliance firm Simplifya secures first stage of $3 million raise is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/cannabis-compliance-firm-simplifya-secures-first-stage-3-million-raise/

North Dakota specifies where state’s medical marijuana dispensaries can open

North Dakota has established eight regions for medical cannabis dispensaries in an effort to ensure qualifying patients have easy access to MMJ. The regions center on the state’s largest cities – Fargo, Bismarck, Grand Forks, Minot, Devils Lake, Jamestown, Williston and Dickinson. However, the dispensaries that eventually are licensed can be located anywhere within a […]

North Dakota specifies where state’s medical marijuana dispensaries can open is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/north-dakota-specifies-medical-marijuana-dispensaries-can-open/

Canadian cannabis companies ink deals for nearly CA$1B in funding in 10 days

Capital is pouring into the Canadian marijuana sector faster than ever, as companies prepare for the country’s anticipated adult-use legalization this summer and bulk up for international expansion. Through the first 10 days of 2018, companies closed on a variety of funding deals or announced financing plans worth at least 978 million Canadian dollars ($780 […]

Canadian cannabis companies ink deals for nearly CA$1B in funding in 10 days is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/canadian-marijuana-companies-ink-deals-ca1-billion-financing-first-10-days-2018/