Marijuana World News

The German federal parliament rejected a bill to legalize a “strictly controlled” adult-use cannabis market, dealing a major setback to recreational marijuana reform efforts in that country. The rejection came despite the fact that a majority of the members of the Bundestang belong to a political party that favors some type of reform. Legalization efforts […]

Germany firmly rejects recreational marijuana legalization bill as hope fades for reform is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

The first finished, registered cannabis medicine became available to patients in Peruvian pharmacies this week, Marijuana Business Daily has learned. The product, Epifractan, is manufactured in Uruguay by Ramm Pharma and imported into Peru by Cann Farm, holder of the registry with the Peruvian General Directorate of Medicines, Supplies and Drugs (DIGEMID). Magistral preparations first […]

More medical cannabis products available in Peruvian pharmacies is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Canadian marijuana producer Hexo Corp. reported a net loss of 170 million Canadian dollars ($127 million) for its fourth quarter, ending its 2020 fiscal year with a CA$546 million loss. The quarterly loss accounts for inventory write-downs (CA$42 million), impairment (CA$46 million) as well as a CA$54 million loss on the inducement of convertible debentures. […]

Cannabis producer Hexo ends year with CA$546 million loss is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

A new cannabis vending machine has hit the market in Colorado, with other states on the horizon, but the automated dispensers must overcome a host of challenges to become a regular part of the marijuana retail landscape. In theory, in-dispensary vending machines can improve customer throughput and reduce wait times. Beyond stores, vending machines could […]

As new cannabis vending machines hit the market, challenges remain is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Preliminary results show a slim majority of voters in New Zealand rejected the country’s referendum on a proposed bill to legalize and regulate sales of adult-use cannabis, the country’s Electoral Commission announced Friday.

New Zealand voters reject adult-use cannabis bill, provisional results show is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

It looks as if the Mississippi Supreme Court won’t consider a legal challenge to a medical cannabis initiative being on the ballot – until the election is over. Chief Justice Mike Randolph filed an order Wednesday giving Secretary of State Michael Watson until Nov. 6 to respond to the challenge by Madison Mayor Mary Hawkins […]

Mississippi medical cannabis challenge may not be decided until after election is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Marijuana Business Daily is rolling out extensive coverage of the 2020 general election to give readers timely updates and analysis of legalization ballot measures in five states as well as key federal races that could affect cannabis reform. MJBizDaily will offer blog reporting and analysis from its reporters as well as detailed graphics and regularly […]

MJBizDaily details plan for wide-ranging coverage of 2020 election is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Marijuana multistate operator Harvest Health & Recreation raised $34.5 million (46 million Canadian dollars) through a public offering of subordinate stock, the company said Wednesday. The Arizona-based marijuana company said in a previous news release that it will use the proceeds for working capital and general corporate purposes. The offering was increased from around $23 […]

Marijuana MSO Harvest Health raises nearly $35 million in stock offering is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Denmark’s medical cannabis pilot program notched another positive quarter, but the number of unique consumers remains well below the trial’s peak of a year ago. The Danish market’s struggles demonstrate how businesses need to factor market ebbs and flows into their projections rather than counting on consistent, perpetual growth. In the second quarter of 2020, the […]

Danish medical cannabis market sees positive quarter is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

A group of Illinois cannabis retail license applicants will get to argue their case next week on a suit seeking to compel the state to award 75 new licenses. The case is potentially a key one in deciding how the state moves forward in a marijuana retail licensing process that has become controversial and mired […]

Illinois cannabis retail applicants get court hearing on license do-over is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Nevada’s recreational marijuana sales have largely recovered, having slumped in the spring from some of the strictest coronavirus shutdown measures in the nation and dwindling numbers of tourists visiting Las Vegas. Industry officials link the rebound to robust demand from local residents and improved business practices that arose as a necessity during the shutdown, including […]

Nevada marijuana market regains footing after strict COVID-19 restrictions, fewer tourists is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Multistate operator 4Front Ventures is utilizing a $30 million sale-leaseback transaction to rid itself of debt to a corporate lender, the company said. The all-cash deal with California-based Innovative Industrial Properties (IIP) involves the sale of cultivation and production facilities owned by 4Front in Tumwater, Washington. and Georgetown, Massachusetts. IIP will then lease the facilities […]

Marijuana MSO 4Front enters $30M sale-leaseback deal to pay down debt is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Denver-based Akerna, a marijuana compliance software company, plans to raise $12 million by selling 5 million shares. Shares will be available for $2.40 per during the offering, which is expected to close Oct. 30. Proceeds from the offering are intended to fund Akerna’s “growth initiatives, including product development, sales and marketing, strategic acquisitions, working capital […]

Cannabis software firm Akerna seeks to raise $12 million in public offering is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

A Bahamas committee charged with laying out an economic recovery plan recommended the country legalize marijuana for recreational, medical and religious use. The Economic Recovery Committee (ERC) called for the establishment of a regulatory body to oversee the authorization and enforcement for businesses engaged in the production, wholesale and retail of a potential cannabis industry. […]

Bahamas panel recommends marijuana and hemp legalization is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

A mayor in Mississippi is making a last-ditch effort to remove a business-friendly medical cannabis initiative from the ballot. Madison Mayor Mary Hawkins Butler filed the legal challenge with the state Supreme Court on Tuesday, only a week before the general election and more than a month after absentee voting started, according to the Associated […]

MS mayor sues to throw out medical marijuana measure before election is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Marijuana Business Daily has teamed up with diversified financial services firm Cowen to distribute the New York-based company’s acclaimed “Ahead of the Curve” research reports to the cannabis business community. The reports are now available for purchase through MJBizDaily. The initial set of reports provide critical insights on a variety of topics, including: Market and […]

MJBizDaily, Cowen launch exclusive cannabis research-distribution deal is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Farm Credit Canada, a government-owned agricultural lender, has steadily increased its exposure in the regulated cannabis sector in recent years, according to new figures provided to Marijuana Business Daily. The Crown corporation’s current lending to the cannabis sector sits at around 140 million Canadian dollars ($106 million), which accounts for 0.24% of its entire portfolio. […]

Farm Credit Canada’s cannabis lending tops CA$140 million is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Editor’s note: Get up-to-date insights on state ballot initiatives and all things Election 2020 for cannabis at MJBizCon. We start with Election Week  |  November 2, 2020 & November 4, 2020.  New York could potentially become one of the biggest marijuana markets in the world, but its existing medical cannabis program is heavily regulated and […]

Could New York’s limited medical cannabis program hamper a new adult-use market? is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

A Kentucky tobacco company is investing $15 million in a Los Angeles marijuana vape company that plans to expand its footprint by building out a line of THC-free CBD products.

Tobacco firm spends $15M to bring L.A. marijuana line to THC-free markets is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Massachusetts cannabis entrepreneurs will have to wait at least a month longer for clarity on marijuana delivery licenses. The state’s Cannabis Control Commission (CCC) was scheduled to vote Thursday on new rules for those licenses, but the agency instead delayed the decision until Nov. 30, according to the State House News Service. The delay comes […]

Massachusetts regulators delay vote on cannabis delivery permits is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Aurora Cannabis, suffering from red ink, filed a preliminary short-form base shelf prospectus that will allow the licensed producer to raise up to $500 million over a 25-month period when finalized. The Edmonton, Alberta-based company filed the documentation with Canadian securities agencies and the U.S. Securities and Exchange Commission, according to a company news release. […]

Aurora Cannabis looks to shore up finances with $500 million shelf offering is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

The director of Missouri’s medical cannabis program expects adult-use marijuana to be on the state’s ballot in two years. Lyndall Fraker, the director of the state’s medical marijuana program, told Kansas City TV station WDAF that he believes the legalization of medical marijuana was a steppingstone to full legalization. “I think that was the intent […]

Missouri official predicts recreational marijuana legalization vote in 2022 is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Companies operating bonded warehouses in Uruguay are now able to provide international logistics services for the cannabis industry, according to a recently approved decree. Cannabis products can now be shipped from different countries to Uruguay, where they can remain in transit – and be repackaged if needed – and then be reexported to other countries […]

New Uruguayan decree could position country as cannabis logistics hub is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Medical cannabis products in Canada should be dispensed to patients inside pharmacies – a natural progression for the sector that would lead to improved practitioner oversight, according to the point person for medical marijuana at Shoppers Drug Mart, the largest pharmacy chain in the country. Ken Weisbrod, the outgoing vice president of business development/cannabis strategy, […]

Shoppers Drug Mart seeks cannabis sales in pharmacies: Q&A with exec Ken Weisbrod is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Financial support for marijuana legalization, both medical and recreational, has grown significantly in 2020 compared to 2016. Proponents of state ballot measures have outraised opponents this election season by almost 36-to-1, a massive increase from four years ago when advocates outstripped the opposition by only 4-to-1. Supporters of the legalization measures in Arizona, Mississippi, Montana, […]

Marijuana legalization proponents outraising opponents 36-to-1 in 2020 is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

While there is significant evidence cannabis can be used to treat chronic pain, a new study suggests it might not be useful for other types of pain and may, in fact, cause harm. Unpublished research presented at the Anesthesiology 2020 annual meeting shows prior cannabis use may interfere with anesthesia during surgery and is associated […]

Cannabis users need more anesthesia during surgery, more opioids after is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

We know cannabis use affects sleep. While it has been used for centuries to improve sleep, there is more recent evidence it can also interfere with sleep depending on the amount used. But why? A published study in the journal Sleep sheds some light on this connection by showing certain shared genes predispose people to […]

Cannabis use and sleep deficits genetically linked is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

A study out of St. Michael’s Hospital in Toronto has found prescription synthetic cannabinoids are linked to a 64-percent increase in death in older patients with chronic obstructive pulmonary disease (COPD). These oral drugs—nabilone and dronabinol—have a chemical structure similar to THC and are often prescribed to treat symptoms associated with COPD, including pain, sleep […]

Synthetic cannabinoids linked to increased hospitalizations and deaths in older adults with COPD is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Officials in Detroit, Michigan’s largest city, finally announced the rules for allowing licensed adult-use marijuana sales with an effort toward giving social equity applicants a leg up in the market. The Detroit Metro Times reported that the City Council decided during a Monday meeting to allow: 75 licenses for retail stores. 35 consumption establishments. 35 […]

Detroit sets plans for recreational cannabis sales is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

1.) Election could stoke US marijuana market, sway Congress

Voters in four states from different regions of the country could embrace broad legal marijuana sales on Election Day, and a sweep would highlight how public acceptance of cannabis is cutting across geography, demographics and the nation’s deep political divide.

The post Election could stoke US marijuana market, sway Congress appeared first on The Cannabist.

2.) Fullerton council defers vote on marijuana shop law

During a meeting Tuesday, Oct. 20, the council voted 4-1 to delay a decision on the ordinance, which would allow regulated cannabis dispensaries, manufacturers and other business types in certain areas.

The post Fullerton council defers vote on marijuana shop law appeared first on The Cannabist.

3.) Illegal marijuana grow uncovered in Pueblo West home

An illegal marijuana grow, with 76 plants worth about $76,000, was seized Thursday in Pueblo West, according to the sheriff's office.

The post Illegal marijuana grow uncovered in Pueblo West home appeared first on The Cannabist.

4.) Ticker: Pols blast pending pot delivery regs; Providence unveils program to support small businesses

A handful of lawmakers from both sides of the aisle have asked that Massachusetts marijuana regulators scrap the proposed delivery license that would let operators buy marijuana wholesale from cultivators and manufacturers, store it in a warehouse and deliver it to consumers at home.

The post Ticker: Pols blast pending pot delivery regs; Providence unveils program to support small businesses appeared first on The Cannabist.

5.) Colorado marijuana sales eclipse $200 million (again) in August

Colorado dispensaries sold $218.6 million worth of marijuana in August, falling just short of the all-time monthly record, $226 million, set in July.

The post Colorado marijuana sales eclipse $200 million (again) in August appeared first on The Cannabist.

6.) Maine joins Massachusetts, opening doors to recreational pot sales

SOUTH PORTLAND, Maine — Mainers got their first opportunity to legally buy marijuana for recreational use, but a supply shortage was a potential buzzkill.

The post Maine joins Massachusetts, opening doors to recreational pot sales appeared first on The Cannabist.

7.) Methadone Mile busts: Boston Police arrest 7, recover illegal drugs

Boston Police officers in the last week have arrested seven alleged drug dealers in the Methadone Mile area and helped more than 25 alleged buyers seek treatment for their drug addictions, the department announced on Monday.

The post Methadone Mile busts: Boston Police arrest 7, recover illegal drugs appeared first on The Cannabist.

8.) Colorado governor to mass-pardon 2,700-plus marijuana convictions

Colorado Gov. Jared Polis plans to mass-pardon 2,732 convictions of marijuana possession through an executive order Thursday after signing a bill earlier this year that gave him that authority.

The post Colorado governor to mass-pardon 2,700-plus marijuana convictions appeared first on The Cannabist.

9.) Ticker: Pot delivery rules open for comment; Satanic temple sues over rejected billboards; Fitch affirms UMass rating

Now that they've settled on a framework for home delivery of marijuana, regulators on the Cannabis Control Commission want the public's input on the draft rules.

The post Ticker: Pot delivery rules open for comment; Satanic temple sues over rejected billboards; Fitch affirms UMass rating appeared first on The Cannabist.

10.) Largest California wildfire threatens marijuana growing area

SAN FRANCISCO (AP) — California’s largest wildfire is threatening a marijuana growing enclave, and authorities said many of the locals have refused to evacuate and abandon their maturing crops even as weather forecasters predict more hot, dry and windy conditions that could fan flames.

The post Largest California wildfire threatens marijuana growing area appeared first on The Cannabist.

12.) Pot shop a no-go in Quincy Market after landlord's cease and desist

Plans for a pot shop in Quincy Market are on hold for now after the property management firm for the popular downtown tourist destination issued a cease and desist letter for the cannabis retailer, city officials confirmed.

The post Pot shop a no-go in Quincy Market after landlord's cease and desist appeared first on The Cannabist.

13.) Reaction mixed to pot shop proposed in Roxbury's Nubian Square

Many people in Roxbury on Tuesday said they would welcome a proposed recreational marijuana dispensary in Nubian Square, even though the head of a neighborhood group said a "drug den" would not help to revitalize the community.

The post Reaction mixed to pot shop proposed in Roxbury's Nubian Square appeared first on The Cannabist.

14.) Colorado marijuana sales blow past $200 million in July

Cannabis sales keep creeping higher and higher, setting 2020 up to be the industry's most lucrative year on record.

The post Colorado marijuana sales blow past $200 million in July appeared first on The Cannabist.

15.) Redwood City could soon allow up to six storefront cannabis dispensaries

Redwood City residents are being asked to weigh in on whether the city should allow retail cannabis stores in commercial areas.

The post Redwood City could soon allow up to six storefront cannabis dispensaries appeared first on The Cannabist.

16.) Illegal marijuana farms are risky for workers who don't make much, California sheriff says

Federal agencies are helping the Riverside County Sheriff's Department with the Aguanga slayings investigation.

The post Illegal marijuana farms are risky for workers who don't make much, California sheriff says appeared first on The Cannabist.

17.) Colorado cold snap destroys millions of dollars worth of marijuana plants, could disrupt industry

Early cold temperatures and snow in Colorado may have destroyed millions of dollars worth of outdoor plants, cannabis and hemp companies said.

The post Colorado cold snap destroys millions of dollars worth of marijuana plants, could disrupt industry appeared first on The Cannabist.

18.) With 7 dead, large-scale California marijuana operation is tied to organized crime

An illegal marijuana growing operation where seven people were fatally shot in a small, rural Southern California town had the markings of organized crime, authorities said Tuesday.

The post With 7 dead, large-scale California marijuana operation is tied to organized crime appeared first on The Cannabist.

19.) 7 deaths tied to illegal grow operation shake rural Riverside County community

Investigators found more than 1,000 pounds of marijuana and several hundred marijuana plants, deputies said.

The post 7 deaths tied to illegal grow operation shake rural Riverside County community appeared first on The Cannabist.

20.) 7 fatally shot at illegal marijuana grow in Southern California

7 people were dead from gunshot wounds at a pot house in Aguanga, southeast of Hemet. Riverside County Sheriff's Deputies are looking for the suspect.

The post 7 fatally shot at illegal marijuana grow in Southern California appeared first on The Cannabist.

21.) 7 fatally shot at illegal marijuana grow in Riverside County

7 people were dead from gunshot wounds at a pot house in Aguanga, southeast of Hemet. Riverside County Sheriff's Deputies are looking for the suspect.

The post 7 fatally shot at illegal marijuana grow in Riverside County appeared first on The Cannabist.

22.) California man arrested in alleged marijuana-by-mail ring that led to shooting death of beloved South Carolina postal worker

A Santa Rosa man was arrested for allegedly conspiring to traffic marijuana, alongside two men who've been implicated in the killing of a mail delivery worker.

The post California man arrested in alleged marijuana-by-mail ring that led to shooting death of beloved South Carolina postal worker appeared first on The Cannabist.

23.) Online messaging indicates Americans turning to drugs to cope with coronavirus pandemic, study shows

A new study analyzing more than 1 million Reddit drug-related comment threads suggests Americans are increasingly turning to drugs to cope with the coronavirus pandemic, with sharp increases in conversations about alcohol, hallucinogens, tobacco and cocaine.

The post Online messaging indicates Americans turning to drugs to cope with coronavirus pandemic, study shows appeared first on The Cannabist.

24.) Man who robbed Bay Area cannabis delivery truck gets 42 months; Judge criticizes prosecutors but acknowledges 'brazen' crime

Lamar Johnson, 31, apologized for his participation in the robbery and said he wouldn't have involved himself if he thought his co-defendants were armed.

The post Man who robbed Bay Area cannabis delivery truck gets 42 months; Judge criticizes prosecutors but acknowledges 'brazen' crime appeared first on The Cannabist.

25.) DA: Teen allegedly high on marijuana charged in Natick hit-and-run

A 17-year-old boy who fled after mowing down two pedestrians in an Aug. 18 Natick crash was driving high on marijuana, authorities said.

The post DA: Teen allegedly high on marijuana charged in Natick hit-and-run appeared first on The Cannabist.

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