Attorneys for dozens of Nevada marijuana businesses began a multiday hearing before a judge they’re asking to temporarily freeze new dispensary licenses in the state’s booming recreational cannabis market. MJ firms that lost bids for new licenses last December are challenging the criteria and personnel the state used to score the 462 applications for 61 […]
Doctors Orders Pharmacy, a White Hall, Arkansas-based chain of drugstores, filed a federal trademark infringement lawsuit this week against Doctors Orders Rx, one of the state’s two operating medical marijuana dispensaries. The situation underlines why marijuana firms should carefully consider legal due diligence as they develop names and marketing materials – or face similar lawsuits. The pharmacy […]
One of Canada’s top banks acknowledged the rocky start for the adult-use cannabis industry, but still expects to see “substantial growth” for the rest of the year as supply constraints are alleviated. Scotiabank also warned that the cannabis market will become heavily oversupplied in the medium- to long-term. “Producers we have spoken to are generally […]
The Massachusetts Cannabis Control Commission approved what is believed to be the first sale of a marijuana business in the state. Sira Naturals, which owns three dispensaries in the Boston area, is being sold to Cannabis Strategies Acquisition, a Toronto-based company that invests in cannabis businesses. Last week, regulators delayed a vote on the deal […]
Harborside, which has well-established cannabis dispensaries in the Bay Area of California, is expected to start trading on the Canadian Securities Exchange (CSE) the first week of June. While the company initially announced its plans to go public in August last year, the process really has been about 18 months in the making, CEO Andy […]
Colorado Gov. Jared Polis signed a measure that will allow physicians to recommend medical cannabis in lieu of opioids. The move could buoy sales of medical marijuana, which have declined as purchases of adult-use cannabis have soared. The new law is scheduled to go into effect Aug. 2, the Denver Post reports. In 2017, 3.7 million opioid […]
Utah Gov. Gary Herbert said the federal government “oughta be ashamed” for its “lack of action and attention” on cannabis policy reform, including steps to encourage marijuana banking and medical research. The Salt Lake Tribune reported Thursday that Herbert, a Republican, said Utah’s medical marijuana program faces policies that hinder doctors from recommending medical marijuana and federal […]
A change to South Africa’s medicines law means the country is the first in Africa to carve out a federally approved market for non-prescription CBD. Health Minister Aaron Motsoaledi amended the country’s Medicines and Related Substances Act, 1965, to remove certain cannabidiol preparations for nonserious health claims on the recommendation of South Africa’s Health Products Authority […]
New Jersey legislators advance a medical marijuana program expansion, state banking associations get behind federal banking reform, Canada’s cannabis shortage has international implications – plus other important news from around the industry. New Jersey MMJ expansion on track The Garden State’s legislature is moving toward approving a major expansion of its medical cannabis program, which to […]
Michigan House legislators adopted a resolution that asks the U.S. Congress to make laws providing protection to banks that take medical cannabis businesses as customers. The resolution urges Congress to pass the Secure and Fair Enforcement Bank Act (SAFE Act) and notes that “because of the federal prohibition, there is an extreme risk to provide financial […]
The New Jersey Assembly on Thursday voted 65-5, with six abstentions, to expand the state’s medical marijuana program, a measure that could significantly boost sales in what has become a fast-growing market. The measure paves the way for the state to issue additional business licenses, cannabis home delivery and a more-liberal MMJ recommendation process. MMJ […]
MedMen, a multistate cannabis company based in California, said it closed on an initial $80 million tranche of funding from New York private equity group Gotham Green Partners (GGP). The money is the first part of a $250 million convertible credit facility with GGP that MedMen secured in March. More details on the funding can […]
TerrAscend, a Toronto-based vertically integrated marijuana company, reported revenues of 14.6 million Canadian dollars ($10.95 million) for the quarter ended March 31, 2019, with a net loss of CA$11.2 million. The company did not report revenues for the comparable quarter in 2018. Its net loss for that period was CA$2.35 million. During the quarter, TerrAscend […]
Maine cannabis enthusiasts used a public hearing on Thursday to implore regulators to protect the small businesses and growers they think should make up the backbone of the state’s budding marijuana industry. The Maine Office of Marijuana Policy held the public hearing about the state’s draft recreational marijuana rules, which are nearing approval after years […]
Texas lawmakers passed a bill that would increase the number of qualifying patient conditions for medical marijuana, a development that likely could boost dispensary sales in the state’s limited MMJ program. The Texas Senate passed HB 3703 on Wednesday after it previously advanced through the State House. The measure now goes to the desk of […]
Lawmakers and regulators across the United States increasingly are requiring marijuana firms to accept “labor peace agreements” that can lead to unionization. Consider the following: In New York state, medical marijuana business licensees must sign a labor peace agreement with a union. The same is true in California for cannabis licensees with at least 20 […]
Salaries and benefits are tools to recruit top talent that will facilitate your company’s success, as well as barometers of your company’s health and culture. Marijuana Business Magazine spoke with executives from four cannabis companies that have made top-places-to-work lists and asked them about salaries and recruitment. Here’s what they said: Eunice Kim Title: Vice […]
The cannabis cultivation and retail sector has become increasingly crowded and competitive, but successful operators can still make themselves attractive acquisition targets.
While CEOs in all industries are typically among a company’s top earners, salaries for cannabis CEOs trend higher than those in mainstream industries, including agriculture.
(This story has been update to reflect a statement from Aurora on its Nordic 1 facility in Denmark. – Ed.) A shortfall of cannabis in Canada’s regulated market took a toll on the international sales of an industry leader, Aurora Cannabis, according to the company. The Alberta firm’s international medical cannabis sales rose nearly 40% […]
Inconsistent regulations for medical cannabis across Europe create an uneven playing field that makes doing business and accessing medicine cumbersome, according to Danish Health Minister Ellen Trane Nørby.
The California Senate voted almost unanimously to pass a bill that would allow banks and credit unions to accept cash deposits from cannabis retailers. The 35-1 vote would allow banks to issue special checks to the retailers that could be used for certain purposes, including paying taxes or California-based vendors. State lawmakers also say such […]
Cannabis pays. From trimmers, stock clerks and budtenders to master growers, chief extractors and C-suite executives, all are more likely to make at least as much or more money than comparable positions in mainstream industries such as consumer goods, alcohol and agriculture. That’s what Marijuana Business Magazine number crunchers—led by research and data analyst Maggie […]
As corporate cultivation operations in California continue to expand, small cannabis growers in the Golden State are banding together to develop cooperatives in an attempt to gain a competitive edge against their large-scale rivals. Co-ops present pros and cons for smaller marijuana growers. But those who are making the move point to these factors: By […]
Smaller California marijuana farmers form co-ops to save on costs, compete with large growers is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Marijuana Business Magazine’s Salary Snapshot continues today, with stories about: Trends in the current labor market. Offering stock options as a hiring bonus. Compensation disparities by region. Visit the Salary Snapshot landing page to read these and other stories in the three-day package.
Marijuana Business Magazine's salary data reveals regional trends that were echoed by cannabis industry observers. Perhaps the most significant: East Coast cannabis companies in search of candidates with marijuana industry experience are pulling employees away from West Coast rivals by offering better pay and perks.
To win over job candidates, cannabis companies are increasingly offering incentives in addition to compensation, the most common of which are stock options. In many other industries, especially new ones—think internet firms of the late 1990s—companies have offered stock options to employees. New companies, which might not be able to wrest a candidate from a […]
U.S. state bankers associations jointly sent a letter to leaders of a key Senate panel saying they support cannabis banking reform and urging the committee to hold a hearing on the merits of such legislation. “We believe federal action is necessary and support a solution that would allow banks to serve cannabis-related businesses in states […]
Two conservative politicians in Ontario, one representing a federal riding (electoral district) and the other provincial, have joined a British Columbia company engaged in the ancillary cannabis market.
Missouri regulators shot down a protest by Florida-based BioTrackTHC over the Show-Me State’s medical marijuana seed-to-sale contract. BioTrackTHC said the state shouldn’t have awarded the traceability contract to competitor Franwell, the Florida-based maker of Metrc, because it could contain hidden costs for cannabis license holders, the St. Louis Post-Dispatch reported. However, the state said the […]