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Curaleaf signs distribution deal with CVS for hemp products

(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 […]

Curaleaf signs distribution deal with CVS for hemp products is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/curaleaf-signs-distribution-deal-with-cvs-for-hemp-products/

Arkansas Senate passes medical cannabis bills affecting edibles, advertising

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. […]

Arkansas Senate passes medical cannabis bills affecting edibles, advertising is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/arkansas-senate-medical-cannabis-bills-edibles-advertising/

NV audit spurs marijuana dispensary owners to call for traceability software training

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” […]

NV audit spurs marijuana dispensary owners to call for traceability software training is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/nevada-cannabis-dispensary-traceability-software-training/

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

Source: https://mjbizdaily.com/marijuana-manufacturers-ship-cbd-despite-risks/

Canadian firm DionyMed to acquire L.A. cannabis campus, other assets for $19 million

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 […]

Canadian firm DionyMed to acquire L.A. cannabis campus, other assets for $19 million is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/canadian-firm-dionymed-to-acquire-l-a-cannabis-campus-other-assets-for-19-million/

Australian medical marijuana revenues could hit AU$36 million in 2019

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 […]

Australian medical marijuana revenues could hit AU$36 million in 2019 is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/australian-medical-marijuana-revenues-could-hit-au36-million-in-2019/

US marijuana firm Vireo Health launches on Canadian exchange

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.

US marijuana firm Vireo Health launches on Canadian exchange is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/us-marijuana-firm-vireo-health-launches-on-canadian-exchange/

Marijuana growers find alternative to cloning – tissue culture

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.

Marijuana growers find alternative to cloning – tissue culture is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/tissue-culture-alternative-to-cloning/

US House committee poised to consider cannabis banking bill next week

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 […]

US House committee poised to consider cannabis banking bill next week is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/us-house-committee-poised-to-consider-cannabis-banking-bill-next-week/

Amyris closes on potential $300M cannabinoid deal with biotech group Lavvan

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 […]

Amyris closes on potential $300M cannabinoid deal with biotech group Lavvan is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/amyris-closes-cannabinoid-deal-biotech-group-lavvan/

Ascent to sell Canadian cannabis assets for undisclosed cash amount

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 […]

Ascent to sell Canadian cannabis assets for undisclosed cash amount is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/ascent-sell-canadian-cannabis-assets-undisclosed-cash/

Illinois marijuana firm Grassroots closes $90 million raise to expand operations

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 […]

Illinois marijuana firm Grassroots closes $90 million raise to expand operations is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/illinois-marijuana-firm-grassroots-closes-90-million-raise-to-expand-operations/

Insurance-covered cannabis in Germany tops 70 million euros in 2018

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 […]

Insurance-covered cannabis in Germany tops 70 million euros in 2018 is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/insurance-covered-cannabis-in-germany-tops-70-million-euros-in-2018/

NJ adult-use cannabis bill heads to final vote after key committee OKs

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 […]

NJ adult-use cannabis bill heads to final vote after key committee OKs is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/new-jersey-adult-use-bill-heads-final-vote-key-committee-oks/

California environmental regulations and marijuana: Q&A with Green Wise’s Pamela Epstein

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 […]

California environmental regulations and marijuana: Q&A with Green Wise’s Pamela Epstein is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/california-environmental-regulations-marijuana-green-wise-pamela-epstein/

Is vertical integration the right approach for your cannabis business?

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.

Is vertical integration the right approach for your cannabis business? is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/is-vertical-integration-the-right-approach-for-your-cannabis-business/

Florida ends ban on smokable cannabis, opening door to tens of millions in new sales

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. […]

Florida ends ban on smokable cannabis, opening door to tens of millions in new sales is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/florida-ends-ban-on-smokable-cannabis-opening-door-to-tens-of-millions-in-new-sales/

IL treasurer: State medical cannabis firms may collapse without banking reform

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 […]

IL treasurer: State medical cannabis firms may collapse without banking reform is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/il-treasurer-warns-lawmakers-about-cannabis-banking-crisis/

Marijuana company Curaleaf to buy Nevada’s Acres Cannabis for $70M

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 […]

Marijuana company Curaleaf to buy Nevada’s Acres Cannabis for $70M is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/curaleaf-nevada-acres-cannabis-70-million/

New Mexico adult-use cannabis bill fails; gov wants to revive in 2020

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 […]

New Mexico adult-use cannabis bill fails; gov wants to revive in 2020 is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/new-mexico-adult-use-marijuana-bill-fails-governor/

Cresco to enter FL medical marijuana market via $120M VidaCann purchase

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 […]

Cresco to enter FL medical marijuana market via $120M VidaCann purchase is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/cresco-florida-medical-marijuana-market-120-million-acquisition-vidacann/

Chart: Ohio medical marijuana sales start strong, but not all patients are buying

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 […]

Chart: Ohio medical marijuana sales start strong, but not all patients are buying is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/ohio-medical-marijuana-sales-strong-not-all-patients-buying/

Nearly 60 people to participate in Michigan adult-use cannabis work groups

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. […]

Nearly 60 people to participate in Michigan adult-use cannabis work groups is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/michigan-adult-use-marijuana-work-groups-selected/

Tricks of the trade: Cresco’s CEO on creating a major multistate marijuana business

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 […]

Tricks of the trade: Cresco’s CEO on creating a major multistate marijuana business is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/tricks-of-the-trade-crescos-ceo-major-multistate-marijuana-business/

New Jersey medical cannabis patient count surges 150% since January 2018

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, […]

New Jersey medical cannabis patient count surges 150% since January 2018 is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/new-jersey-medical-cannabis-patient-count-surges-150-since-january-2018/

Oklahoma governor signs medical marijuana rules into law

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 […]

Oklahoma governor signs medical marijuana rules into law is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/oklahoma-governor-signs-medical-cannabis-rules-into-law/

Medical cannabis sales climb in Canada after adult-use legalization

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 […]

Medical cannabis sales climb in Canada after adult-use legalization is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/medical-cannabis-sales-rise-in-canada-after-adult-use-legalization/

Israel’s prime minister contemplates adult-use marijuana legalization

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 […]

Israel’s prime minister contemplates adult-use marijuana legalization is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Source: https://mjbizdaily.com/israel-prime-minister-contemplates-adult-use-marijuana-legalization/