Arizona approved 73 dispensaries to start selling recreational marijuana on Friday, launching the state's adult-use cannabis program with sales beginning less than three months after voters approved the new market.
Recreational marijuana sales kick off in Arizona less than three months after voters pass ballot measure is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
A Dutch judge rejected a request to annul the results of a lottery process used to select cultivators for the Netherlands’ recreational cannabis experiment. “This means the experiment will likely continue moving forward as planned,” Kaj Hollemans, a drug policy consultant based in the Netherlands, told Marijuana Business Daily. “It is now at the stage […]
Dutch recreational cannabis experiment advances after court appeal rejected is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Aurora Cannabis is raising $125 million via a stock-purchase deal to finance general corporate activities, which might include “opportunistically reducing debt,” the Alberta company announced. Aurora said in a news release that it entered into an agreement with a syndicate of underwriters led by BMO Capital Markets and ATB Capital Markets. The underwriters agreed to […]
Aurora Cannabis raising $125 million with eye on reducing debt is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
The first Big Tobacco company to make a foray into the marijuana and hemp industries is exiting both sectors in a bid to shore up its bottom line.
First Big Tobacco marijuana player exits marijuana, hemp after bankruptcy is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
U.S. tobacco firm Pyxus International is divesting its Canadian cannabis subsidiaries, with plans to sell off the companies and “focus on its more profitable tobacco and e-liquid businesses.” The three subsidiaries – Figr Brands, Canada’s Island Garden and Figr Norfolk – have all filed for and received creditor protection under Canada’s Companies’ Creditors Arrangement Act […]
Pyxus International divesting Canadian cannabis subsidiaries is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
November retail sales of recreational cannabis products across Canada fell to 261 million Canadian dollars ($205 million), 3.2% lower than in October, according to the latest data from Statistics Canada. November’s sales represent the broadest fall since September 2019, when adult-use sales were 2.4% lower month-over-month. Saskatchewan was the only province to see retail sales growth […]
Canadian cannabis sales slip in most provinces in November is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
The COVID-19 outbreak that began about a year ago has proved devastating for many mainstream industries – including airlines and restaurants, for starters – but for those in the cannabis business, 2020 turned out to be a record-setter. Sales of medical and recreational marijuana products smashed former records set in mature markets such as Colorado […]
Cannabis sales records smashed or set in 2020, and insiders expect the gains to continue is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Canadian cannabis products recalled in January include defective all-in-one vape pens from Hexo Corp. as well as moldy marijuana from Saskatchewan processor AgroGreens Natural Products and mislabeled bud from Manitoba’s Delta 9 Bio-Tech. Hexo’s recall, announced Jan. 12 by the Ontario Cannabis Store (OCS) online retailer, impacted three types of disposable vape pens. Hexo told […]
Latest Canadian cannabis recalls include melting vape pens, moldy bud is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Multistate cannabis operator Verano Holdings raised $100 million in subscription receipt financing in connection with a reverse-takeover deal that will see the company go public on the Canadian Securities Exchange. The Chicago-based firm, which currently operates in 12 U.S. states, made the announcement Thursday. The deal is expected to close in February. Verano previously said […]
Cannabis MSO Verano announces $100M subscription receipt financing is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Marijuana industry executive Keegan Peterson, who founded Denver HR tech company Wurk, has died at 33.
Keegan Peterson, founder/CEO of marijuana tech firm Wurk, dies at 33 is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
The Czech market for medical cannabis flower quadrupled last year compared to 2019, according to data published by the State Agency for Medical Cannabis. However, the market remains very small. In 2020, roughly 68 kilograms (150 pounds) of medical cannabis flower was sold to patients in Czech pharmacies, compared with 17 kilograms the year before, […]
Czech medical cannabis sales surge, but market remains small is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Four red states – Alabama, Kansas, Kentucky and South Carolina – could legalize medical marijuana through their legislatures this year, and, if successful, they could generate hundreds of millions of dollars in business opportunities across the supply chain over time. Legalization seems more likely in the southeastern states after Mississippi voters approved a citizen-driven medical […]
These four states could legalize medical marijuana through legislation in 2021 is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Embattled Canadian cannabis producer CannTrust Holdings on Wednesday announced a restructuring support agreement that will pave the way for the company to settle shareholder lawsuits as it restructures. Under the agreement, shareholders’ litigation against CannTrust in both Canada and the United States “will be settled as part of a broader restructuring of the company” under […]
Cannabis firm CannTrust reaches agreement to settle shareholder claims is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
A marijuana industry official cautioned New York officials that recreational marijuana taxes need to be low enough to curtail illicit sales. New York Gov. Andrew Cuomo unveiled more details this week about his recreational marijuana legalization plan, which is designed to help offset a coronavirus-fueled, multibillion-dollar budget deficit. “We definitely want to make sure that […]
NCIA: High recreational marijuana taxes in New York could hurt legal market is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Cannabis derivative manufacturer Valens Co. said it is liquidating most of its oil inventory, citing industry trends such as outdoor marijuana harvests and falling prices. Marijuana Business Daily has reported extensively on Canada’s glut of dried cannabis, edibles and extracts. The Toronto-headquartered company cited: An anticipated increase in outdoor cannabis production. Falling dried cannabis prices. […]
Valens ‘clears the deck,’ liquidating most cannabis oil inventory is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Canadian licensed producers added a record 220,461 kilograms of marijuana to their inventories in October 2020, according to new data offering a statistical glimpse of the country’s first large-scale “croptober” – when most of the fall outdoor harvest comes in. The 220,461 kilograms (221 metric tons) of new cannabis is about 50% more than the […]
Canada’s ‘croptober’ surge pushes cannabis inventory over 1 million kilograms is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Over and over again, I meet cannabis growers who are not yet aware of a widespread disease that has been appearing more and more across the United States - hop latent viroid (HpLVd).
An elusive pathogen is damaging cannabis crops – here’s how to fight it is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Marijuana retailers in Massachusetts filed a lawsuit against the state's Cannabis Control Commission's rules that allow only social equity applicants to deliver cannabis for the program's first three years.
Massachusetts cannabis retailers sue state over delivery regulations is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
The California Cannabis Industry Association (CCIA) on Tuesday unveiled a new partnership with North Bay Credit Union under which CCIA-member marijuana companies can obtain an array of financial services. According to a news release, CCIA’s roughly 400 member businesses will “qualify for membership in the credit union and access to banking services such as checking […]
California trade group offers marijuana banking services through credit union is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
As cannabis vaping pens grew in popularity in late 2019, concerns grew about the safety of the products, spurred by reports of illness, and even deaths, of tobacco vape users. Vape manufacturers rushed to assure regulators and consumers their products were safe, despite having no clear understanding of what ingredients might actually be dangerous. Two […]
Phytol cited as potentially dangerous cannabis vape ingredient is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Two of President-elect Joe Biden’s top picks to head the U.S. Department of Health and Human Services have track records of defending and supporting state-legal marijuana programs, positions that could prove positive for the overall MJ industry. Biden on Tuesday said he plans to nominate Pennsylvania Secretary of Health Dr. Rachel Levine as assistant secretary […]
Biden health nominees have history of supporting legal marijuana is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Cannabis-related emergency department visits are thought to have more than tripled between 2011 and 2019, coincident with the legalization of recreational and medical cannabis in many US states. Yet there are no approved drugs to treat overdoses due to cannabis or synthetic cannabinoids like Spice and K2. IRISYS LLC, a contract development and manufacturing organization […]
Injectable cannabis overdose drug to be developed by IRISYS is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
For years, word-of-mouth has pointed to the benefit of using cannabis to treat symptoms of post-traumatic stress disorder (PTSD). Yet, despite medical cannabis having been authorized by 24 US states for the treatment of PTSD, most doctors won’t prescribe it for their patients, citing a lack of epidemiological and clinical trial evidence. (South Dakota is […]
Use of dispensary cannabis reduces symptoms of PTSD is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
A South Portland, Maine, recreational cannabis retailer has run afoul of the state’s marijuana regulator over its logo, which depicts a mermaid holding a shell. SeaWeed Co. owner Scott Howard faces a $10,000 fine over the “willful use of a prohibited image,” the Portland Press Herald reported. Maine’s recreational cannabis rules prohibit labeling that depicts […]
Maine recreational cannabis store faces fine over mermaid logo is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Focus on your value proposition instead of offering the cheapest product in the category. Figure out how to grow organically using your own financial resources instead of being distracted by your competitors’ latest financing round. Those are just some of the takeaways from an interview with Jürgen Bickel, managing director of Storz & Bickel (S&B), […]
Insights into 20 years of organic growth, profitability at marijuana vape maker Storz & Bickel is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Increased consumer demand for cannabis in Oregon helped push wholesale prices in the state out of a three-year slump caused by overproduction. For the first time since 2017, the median price per pound of recreational marijuana sold by cultivators to retailers topped $1,500 in December, according to data provided by the Oregon Liquor Control Commission. […]
Strong demand drives up Oregon’s wholesale cannabis prices in 2020 is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Alcanna is spinning off its retail cannabis business and combining it with competing retailer YSS Corp. to create one of the largest networks of recreational marijuana stores in Canada, the companies announced Monday. The deal is the latest in a series of M&As in the cannabis retail space, driven by companies looking to differentiate themselves […]
Canadian cannabis retailers to merge, focus on value-conscious consumers is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Medical marijuana sales in Arkansas reached $175 million in 2020, ending the year with a record $1.22 million day. The Marijuana Business Factbook projects that Arkansas MMJ sales will nearly double this year to $300 million-$365 million, boosted by new items such as edibles and vape products. The state recently opened up licensing for processors. The […]
Arkansas medical marijuana sales hit $175M in 2020, could double this year is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Aurora Cannabis laid off sales staff after choosing Great North Distributors to be its sales representative across the Canadian recreational marijuana retail environment. Aurora was unable to share the specific number of employees who will be displaced as a result of the deal. “We have informed the internal sales team of our agreement with Great […]
More layoffs at Aurora Cannabis following Great North deal is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Washington cannabis regulators developed a compliance task force to assistant marijuana businesses in following the state's laws.
Washington state forms compliance group to assist marijuana businesses is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
