Rhode Island’s governor is asking a judge to declare the Legislature’s control over new medical marijuana and hemp regulations unconstitutional. Gov. Gina Raimondo said Tuesday she’s suing in Superior Court because the Democratic-controlled Legislature, in provisions of the state budget, violated the constitutional guarantee of separation of powers by giving itself the right to veto, […]
Seeking fairness for medical cannabis firms, RI gov sues over control of state’s industry is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Connecticut lawmakers on Tuesday approved medical cannabis to treat an additional five conditions, which likely will boost MMJ sales in the state. The General Assembly’s Regulations Review Committee voted to add the conditions, including Tourette syndrome and intractable neuropathic pain. Legislators also approved medical marijuana as a treatment for patients younger than 18 with those same […]
Connecticut adds medical marijuana conditions is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Medical marijuana regulators in Oklahoma are close to licensing testing laboratories, but MMJ growers and processors in what had been a lightly regulated market have been required to test product batches for pesticides and potency for nearly two months. State regulators said they would begin accepting lab applications on Nov. 1. Melissa Miller, assistant director […]
Oklahoma to license cannabis labs, but businesses must test batches is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Sales of recreational marijuana across Canada rose 19% in August to 127 million Canadian dollars ($97 million) from the previous month, buoyed by new store openings in Western Canada. British Columbia’s adult-use market is starting to hit its stride after getting off to an extremely slow start, according to new Statistics Canada data. Receipts of […]
British Columbia’s adult-use cannabis program hits stride as sales double is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Georgia’s 6-month-old limited medical marijuana program hasn’t moved forward because no one has been appointed to a commission that will oversee the new industry. Politicians contacted by the Atlanta Journal-Constitution gave no reason why no one has been appointed to the Georgia Access to Medical Cannabis Commission. More than 50 people have applied to serve […]
Georgia’s limited medical cannabis program stalled is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Terra Carver has lived in California’s Humboldt County nearly her entire life. Since January 2017, she’s served as executive director of the Humboldt County Growers Alliance (HCGA), a coalition she co-founded with the aim of helping longtime local marijuana farmers transition successfully into the new legal market. The first year of California’s legal marijuana market […]
Prospects brighten for cannabis farmers in California’s Emerald Triangle: Q&A with Humboldt Alliance’s Terra Carver is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
A new bill in New Hampshire aimed at increasing the number of dispensaries allowed statewide may improve the financial performance of the state's four licensed marijuana businesses.
Chart: New Hampshire’s new ‘satellite’ dispensary law aims to boost medical marijuana program is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
California-based Pax Labs, one of the leading vape pen companies in the cannabis industry, disclosed Monday it laid off 65 workers, or 25% of its workforce, after missing its revenue projections. The layoffs come amid a health crisis that has shaken the vaporizing industry. The San Francisco company – which originally had ties to the […]
Cannabis vaporizer company Pax Labs cuts 25% of workers after missing revenue projections is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Nevada cannabis regulators suspended the license of a Reno cultivator, just days after the beginning of an investigation into the industry by a governor-appointed, multiagency task force. The cultivator, Helio, was notified of the suspension Friday, according to the Reno Gazette Journal. The action comes as a task force has been making unannounced spot inspections of several […]
Nevada suspends Reno marijuana grower’s license is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Maine regulators adopted a symbol that will be required on marijuana products sold for recreational use, starting next year. The Maine Office of Marijuana Policy partnered with the Massachusetts Cannabis Control Commission to unveil a shared universal symbol for cannabis and marijuana products. The symbol, already in use in Massachusetts, features a red triangle with […]
Maine requiring cannabis label for recreational products is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
A state judge allowed Massachusetts’ four-month ban on the sale of all vaping products to stand as a legal challenge makes its way through the courts. Suffolk Superior Court Judge Douglas Wilkins wrote in a 32-page decision on Monday that lifting the ban as requested by the vaping industry “would contravene the public interest.” Republican […]
Massachusetts judge lets marijuana, tobacco vaping ban stand is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
After a lengthy legal fight with the Internal Revenue Service over the applicability of 280E business deductions to state-legal marijuana companies, Harborside on Monday got its final tax bill from the case: $11 million in back taxes from 2007 to 2012. The case dates to 2016, when Harborside, based in Oakland, California, took the IRS […]
Cannabis firm Harborside owes $11 million under 280E, US Tax Court rules is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
A judge in Montana halted a temporary ban on flavored vaping products, including medical cannabis, which was scheduled to go into effect Oct. 22. Ravalli County District Judge Jennifer Lint signed a temporary restraining order Friday that prohibits Gov. Steve Bullock and state health officials from enforcing emergency rules on flavored vaping products. Lint was […]
Montana judge blocks temporary ban of flavored marijuana vapes, e-cigarettes is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Mexican lawmakers are moving closer to adopting groundbreaking legislation to establish a federally regulated cannabis industry, a move that would lay the legal foundation for a new market and make Mexico only the third country in the world to legalize commercial production of adult-use marijuana. The legislation lays out the groundwork to create what would […]
Mexico’s draft cannabis legalization law would limit foreign investment, ban vertical integration is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Cannabis companies, particularly multistate operators (MSOs), are increasingly incorporating lawsuits into their licensing application strategy in a bid to secure a permit in a highly sought-after market. That strategy of preparing to fight license rejections by state regulators, especially those lost by a narrow margin, is based on a number of factors: Many marijuana business […]
Marijuana businesses increasingly plan to sue if regulators fail to award them a business license is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Cannabis growers need to maintain solid cultivation practices through the entire harvest process to ensure the tough job of raising a good crop doesn't go for naught.
There are tricks to getting a cannabis crop safely to harvest is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
A Nevada task force investigating possible corruption in the marijuana industry already has conducted unannounced spot inspections at several testing laboratories. The inspections are being done, the Las Vegas Journal-Review reported, after allegations emerged that test results had been manipulated, allowing products with unacceptable levels of mold, yeast and other microbials to be sold to […]
Nevada inspecting cannabis testing labs in corruption probe is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Washington DC-based Holistic Industries, a multistate cannabis operator, closed $55 million in financing at a time when many other MJ firms are struggling to raise capital. Holistic Industries plans to use the $55 million to “accelerate expansion” and to better serve patients and consumers who use its cannabis products, the company said in a statement. […]
Marijuana firm Holistic Industries raises $55 million is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Ontario-based The Green Organic Dutchman (TGOD) announced a new construction timetable this week that significantly scales back its expected 2020 production capacity, while maintaining its goal to be profitable by the second half of next year. Earlier this month, the cannabis producer warned that it may have to revise the construction schedule for its facilities […]
Green Organic Dutchman slashes cannabis production target 85% for 2020 is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Toronto-based DionyMed, a multistate marijuana brands operator, is under pressure after key executives stepped down amid a possible credit default. CEO Edward Fields and Mark Zinselmeier, the chief operating officer, resigned from the company, which has businesses in states including California and Nevada. DionyMed received a notice of default under an existing credit agreement demanding […]
CEO of DionyMed cannabis company leaves amid possible default is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Just as potential marijuana banking progress appears on the horizon at the federal level due to the U.S. House of Representatives’ passage of the SAFE Banking Act, one major bank has stopped clearing a significant chunk of cannabis-related trades. The move by New York-based BNY Mellon’s Pershing unit immediately dashed some of the optimism from […]
BNY Mellon’s cannabis-limiting move highlights inconsistencies in banking but could help in the long run, sources say is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Massachusetts cannabis regulators have lifted the roughly five-week suspension of marijuana cultivation license holder Nova Farms, but the operation remains under investigation. The state’s Cannabis Control Commission said it withdrew the suspension order after determining that threats to public health, safety, and welfare had been mitigated. Last month, criminal charges were dismissed against Mark Rioux, who has a […]
Massachusetts drops suspension against marijuana cultivator is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
A heavy regulatory burden at all levels of government put a damper on legal cannabis sales in the first year of Canada’s adult-use market, but experts are optimistic provincial and federal governments could ease certain rules over time, leading to more business-friendly environments. Until then, however, businesses say that some rules limit their competitiveness with […]
Red tape, regulations hamper Canadian cannabis businesses in first year of recreational sales is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
The Dutch Ministry of Health, Welfare and Sport opened a public consultation process seeking feedback on the proposed rules for a “controlled cannabis supply chain experiment,” also called wietexperiment (weed experiment) by authorities. At the end of August, 10 Dutch municipalities with 79 coffee shops were selected to be given access to a legal supply of recreational marijuana […]
Netherlands consults businesses on recreational cannabis experiment is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Colorado’s largest marijuana cultivator suffers an early freeze that is expected to trigger a supply disruption in the state, more than 100 Weedmaps employees receive pink slips, enforcement efforts intensify to root out corruption in local and state cannabis licensing – and more of the week’s top cannabis business news. Supply freeze Colorado’s largest cannabis […]
Week in Review: Early freeze costs largest CO marijuana cultivator millions, Weedmaps lays off 100+, MJ licensing probes escalate & more is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Democratic governors from New York, New Jersey, Pennsylvania and Connecticut took a landmark step Thursday toward coordinating recreational marijuana legalization efforts, agreeing on basic principles involving market regulation, taxation and social equity. They also focused on the vaping crisis, agreeing that states should either ban flavored vaporizer products or regulate them to reduce their attractiveness […]
Northeast governors take big step toward regional cannabis coordination is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
More than half the vape products the U.S. Food and Drug Administration (FDA) tested in its investigation into vaping illnesses in Wisconsin contained THC, the agency reported. Wisconsin does not have a full-strength medical marijuana program, but it is the first state to disclose test results of vape products under investigation after the nationwide health […]
More than 50% of Wisconsin vape products linked to illnesses contain cannabis is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
The arrest of a Ukrainian-born businessman on charges of conspiring to violate federal campaign finance laws triggered a review of the California cannabis licenses he was granted. Lori Ajax, head of the California Bureau of Cannabis Control (BCC), told the Los Angeles Times the indictment of Andrey Kukushkin raises concerns. In the past year, according […]
California probes marijuana licenses of indicted man tied to Giuliani associates is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
In any valuation exercise, including hemp and cannabis companies, there is always some discussion about exactly when in time - past, present or future - the EBITDA is examined.
Why considering the time frame is critical for cannabis valuations is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Revolution Global, a Chicago-based cannabis company, will more than double the capacity at its flagship cultivation facility in Illinois after securing $28.75 million in funding from Freehold Properties, a Las Vegas-based real estate investment company. The doubling of size is in anticipation of a huge increase in demand when recreational marijuana sales begin in Illinois on […]
Chicago marijuana firm inks $29 million real estate deal is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
