California cannabis distributors are warning about what they call a “double-taxation” situation in San Diego that’s raising costs for businesses. If the practice is adopted by other cities and counties, distributors note, it could contribute to further market instability in the state overall by squeezing profit margins and raising product costs for consumers. San Diego […]
California distributors warn ‘double taxation’ by cities could further strain legal marijuana industry is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Aurora Cannabis is vowing to not be a spectator as rival Canopy Growth continues to plow hundreds of millions of dollars into high-growth U.S. CBD and medical marijuana markets. Aurora CCO Cam Battley told Jefferies analyst Owen Bennett that the Alberta company is closely watching developments in the United States. “Having a major presence in […]
Aurora Cannabis exec: ‘Having a major presence in US is nonnegotiable’ is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
North Dakota Gov. Doug Burgum signed into law changes to the state’s medical marijuana law that will increase patient access and therefore expand business opportunities for cannabis license holders. According to a news release, the state health department has implemented the changes passed by the Legislative Assembly. Those changes include: Adding 12 qualifying conditions to the […]
ND implements changes to medical marijuana law that improve business viability is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Medicine Man Technologies, a Denver-based cannabis consulting firm, appointed co-founder Andy Williams as chief executive. Williams served as interim CEO after the abrupt death of Brett Roper in December. In the interim role, Williams oversaw the pending acquisition of MedPharm Holdings, an intellectual property development and holding company focused on cannabis research and product development. That deal, […]
Andy Williams tapped as CEO of cannabis firm Medicine Man Technologies is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Chicago-based Cresco Labs’ revenue more than quadrupled during its fourth quarter, helping pave the company’s path to profitability in 2018. The multistate, vertically integrated company posted fourth-quarter revenue of $17 million – up 411% from the same period in 2017. Cresco said the increase was “driven by expansion into new markets and gains in market […]
Marijuana firm Cresco Labs posts Q4 revenue spike, 2018 profit is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Alabama lawmakers advanced a bill that would establish a limited medical marijuana sales and taxation program to treat debilitating illnesses and conditions. The Senate Judiciary Committee voted 6-2 in favor of the bill after a public hearing. The bill now moves to the full Alabama Senate, which is Republican-controlled. The bill by Republican Sen. Tim […]
Alabama lawmakers take initial step of legalizing limited medical cannabis is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
The Netherlands is taking steps to boost the country’s medical cannabis cultivation, a move that could end Dutch cultivator Bedrocan’s long-standing monopoly in the country. An application process to boost medical cannabis cultivation will be published “this spring,” the Office of Medical Cannabis (OMC) told Marijuana Business Daily. The Netherlands is currently the main supplier of […]
Netherlands to expand cannabis production, potentially jeopardizing Bedrocan monopoly is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
U.S. Rep. Ed Perlmutter, a Colorado Democrat, introduced legislation six years ago to provide federal protection to financial institutions that serve state-legal marijuana businesses. No one in Congress would give him the time of day. “Every time you brought marijuana up, there would be a chuckle,” Perlmutter recalled. “‘Oh, you’re from Colorado. Rocky Mountain High’ […]
Helping banks play SAFE while serving the cannabis industry: Q&A with Congressman Ed Perlmutter is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
U.S. cannabis reform efforts have seen movement recently with a House committee’s endorsement of a banking bill and Attorney General William Barr’s comments that a federal shift would be preferable to the current “intolerable” situation. But the progress that marijuana businesses have awaited remains an uphill battle – with Senate leadership a key hurdle – […]
Federal marijuana reform may be entering new era, even if high hurdles remain is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Michigan cannabis officials are surveying potential adult-use marijuana business license applicants to ensure the department is adequately staffed to handle the application process for permits. According to MLive.com, the Department of Licensing and Regulatory Affairs (LARA) is seeking answers to a variety of questions, including: “Would you apply for an adult-use (recreational) establishment license if the […]
Michigan regulators polling prospective recreational marijuana licensees is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Five companies in Denmark have applied for licenses to sell and export medical cannabis so far, putting the country on track to see its first cross-border shipment to key European Union markets as early as late summer. Authorization to sell medical cannabis products cultivated and produced in Denmark is going to be key to lowering […]
Sale of locally grown cannabis, exports in Denmark expected as soon as summer is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Michigan regulators want medical marijuana dispensaries to test vape pens on their shelves for heavy metals. Some cartridges recently were found to contain lead contamination. State officials are concerned especially with cartridges made of metal, citing a Johns Hopkins study on metal leaching issues, according to MLive.com and a state bulletin. For additional details, click […]
Michigan urges medical marijuana retailers to test vape cartridges for lead is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
The Denver City Council narrowly rejected a proposal that would have relaxed rules for marijuana social consumption businesses, potentially allowing more to operate. The proposal was supported by seven of 12 councilors but failed to get the supermajority needed to change a voter-approved law, the Denver Post reported. The bill would have reduced from 1,000 […]
Denver spurns proposal to ease social-use cannabis business restrictions is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Maine’s proposed rules around the sale of recreational cannabis would for the first two years limit licenses to state residents. After the release of the state’s long-awaited draft rules on Monday, regulators asked for comment from the public, which is an opportunity for cannabis business owners to offer feedback. Maine residents voted in favor of […]
Maine draft rules would limit adult-use marijuana business licenses to state residents is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Arizona-based Harvest Health & Recreation’s revenue more than doubled during its fourth quarter and fiscal 2018 as the multistate marijuana company continued to expand its retail and wholesale footprint and predicted further expansion this year through acquisitions. Despite the sales gains, the company recorded a net loss for the quarter of $71.1 million – which […]
Cannabis firm Harvest Health posts spike in Q4, full-year revenue is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Analysts anticipate that white label cannabis products – those manufactured by one company for branding and marketing by another – will play a key role in Canada’s cannabis extracts market, as companies look for ways to capitalize on the crucial segment without breaking the bank. Canada will allow the production and sale of marijuana edibles, extracts […]
White label cannabis products could play big role in Canada’s extracts market is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Salaries for employees of U.S. marijuana companies lean higher in East Coast markets than on the West Coast. That’s one key takeaway from a Marijuana Business Magazine survey of cannabis industry recruiters. Exceptions exist, of course, such as California, where salaries are higher than average, and Florida, where they are lower than average. Several factors […]
Chart: Eastern US salaries top Western compensation in cannabis is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
A Nevada judge announced she will hear arguments next month on a bid by dozens of companies to freeze a second wave of licenses for entry in to the state’s lucrative adult-use cannabis market. A number of companies accused state tax officials of failing to disclose how they chose winners and losers last December from […]
Nevada judge sets May hearing on lawsuits to halt marijuana licensing is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
In the continuing saga surrounding the development of rules for Maine’s recreational marijuana industry, state regulators hired a second consulting firm to aid the process – but they deny the decision is part of a settlement. Here is the situation, according to the Portland Press Herald: Last December, the Maine Department of Administrative and Financial […]
Maine regulators ask second consultant to review adult-use cannabis rules is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
A Boise, Idaho-based lumber company is suing New England Treatment Access (NETA), a Massachusetts medical and recreational cannabis company, for trademark infringement. The situation underscores why marijuana firms must perform legal due diligence when creating logos or other marketing materials – or face similar lawsuits. The Daily Hampshire Gazette of Northampton, Massachusetts, reported the Boise Cascade […]
Idaho lumber business sues Massachusetts marijuana firm over logo similarity is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Florida-based BioTrackTHC filed a protest with Missouri marijuana regulators over a decision to award a medical cannabis licensing and seed-to-sale tracking contract to Metrc in the Show Me State. BioTrack alleges the scoring was tainted because Franwell, the maker of Metrc – which also is based in Florida – didn’t disclose fees to growers and […]
Medical cannabis licensing and tracking contract faces challenge in Missouri is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Canadian cannabis firm Aphria plans to raise capital via convertible senior notes in a private placement offering to fund international expansion initiatives and future acquisitions. Aphria priced $300 million of convertible senior notes due in 2024 for qualified institutional buyers, plus an option – exercisable within a 30-day period – for an additional $50 million, […]
Aphria prices $300M of convertible notes to fund global marijuana expansion is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Pax Labs, a San Francisco-based maker of vaporizers, confirmed it raised $420 million in equity financing, a record for a U.S.-based marijuana company. The firm said the round included both new and existing institutional investors, including New York-based Tiger Global Management and San Francisco-based Tao Capital Partners. Pax’s raise nearly doubled the previous high for a […]
Cannabis vaporizer company Pax Labs raises benchmark $420 million in funding is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Denver-based MJardin Group agreed to buy Carson City Agency Solutions, which does business as Cannabella, an operator of a cannabis extraction facility and producer of edibles and topicals in Carson City, Nevada. Terms of the deal were not released. With the acquisition, MJardin will add extraction capabilities to its existing cultivation operations in Nevada. To […]
MJardin to add marijuana extraction in Nevada with acquisition is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Bank of America Merrill Lynch deepened its interest in the cannabis industry by initiating coverage of the burgeoning sector, less than a year after it financed Constellation’s multibillion-dollar investment in Canada’s Canopy Growth. The report, by analyst Chris Carey, predicts two events may lead to a paradigm shift: Canada reaching marijuana oversupply by 2021. U.S. legalization. “Importantly, whether […]
Merrill Lynch launches marijuana sector coverage, predicts more cross-border deals is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Here are some notable stories and events to watch for in the coming days: BARR DEADLINE: Wednesday is the deadline set by a group of senators for U.S. Attorney General William Barr to give them answers about increasing the number of federally authorized growers of marijuana for research purposes. In a letter sent to Barr earlier this […]
Marijuana Business This Week: AG’s on the clock, bevy of legislation, medical MJ lottery, Harvest Health earnings & more is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Short sellers have been under attack for years, going as far back as the 1929 stock market crash or as recently as Tesla CEO Elon Musk's charge that short sellers as “jerks who want us to die.”
Ways for marijuana firms to protect their stocks from short sellers is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Immigration authorities on Friday said they could deny citizenship to anyone with any involvement with marijuana – regardless of whether it’s legal in the state where they live – because MJ is still illegal under federal law. The announcement comes weeks after officials in Colorado – where recreational and medical marijuana are legal – complained to U.S. […]
Cannabis business ties can lead to citizenship denial, immigration agency says is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
As part of a broader campaign by state officials to help bolster the legal cannabis market while clamping down on illicit businesses, the California Bureau of Cannabis Control (BCC) rolled out a new public relations campaign asking consumers to “get weed wise.” The effort advises consumers why they should aim to purchase MJ products from […]
CA marijuana regulators, L.A. officials launch 4/20 push backing legal retailers is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
A leading pro-marijuana lawmaker predicted Friday that the U.S. House of Representatives will approve cannabis banking reform and a committee will look at marijuana rescheduling later this year. U.S. Rep. Earl Blumenauer, an Oregon Democrat and a longtime champion of marijuana issues, made his remarks at his annual media teleconference in advance of the unofficial 4/20 […]
Blumenauer: US House will pass cannabis banking reform, consider rescheduling is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
