California lawmakers deferred a plan that would have allowed private banks to handle the money being generated by the legal cannabis industry. The proposal was put on ice after a legislative analysis determined it would face significant obstacles, including a lack of protection for state banks from federal law enforcement, the Los Angeles Times reported. The […]
California decides against state-chartered banking for marijuana industry is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
In a move to ramp up Ohio’s medical marijuana program, state regulators have issued provisional licenses to two additional cannabis processors and two more testing labs. The licenses bring the total number of processors to nine, with four more applications in progress, according to state officials. There are now four authorized testing labs. Ohio legalized […]
Ohio licenses two processors, two testing labs in medical cannabis buildup is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Arkansas picked a Boston-based consultant to grade the 200-plus applications submitted for the state’s first medical marijuana dispensary licenses. The Arkansas Medical Marijuana Commission decided to outsource dispensary license scoring to a third-party group after a controversial cultivation licensing process earlier this year. Public Consulting Group was one of just two companies to respond to […]
Arkansas picks Boston firm to rank medical marijuana applicants is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
California cities push back on proposed regulation changes around home marijuana deliveries, a Canadian CBD company signs a branding agreement with “Dr. Sanjay Gupta” – but not the one you may think – and a North Dakota recreational cannabis measure gets approved for the November ballot. Here’s a closer look at some notable developments in […]
Week in Review: California cannabis home delivery, the ‘real’ Sanjay Gupta & ND to vote on adult-use MJ is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Constellation Brands’ multibillion-dollar wager on Canopy Growth is huge – record setting even – but a much larger story is lighting up across the cannabis industry: Wall Street has arrived. Financial heavyweights Goldman Sachs and Bank of America Merrill Lynch are officially dabbling in the marijuana industry now, which is a move observers call a […]
Breaking down the big deal behind Constellation’s bet on cannabis and Wall Street’s involvement is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Louisiana’s first legal crop of medical marijuana can be planted this week. Agriculture Commissioner Mike Strain, whose agency regulates the state’s burgeoning industry, loosened a regulatory logjam that created a monthslong delay. Strain’s team met with Louisiana State University AgCenter Chancellor Bill Richardson and the head of the school’s marijuana contractor, GB Sciences Louisiana, to […]
Louisiana expected to begin growing medical cannabis Aug. 17 is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
A legal battle royale between two cannabis consulting firms in Los Angeles will pit industry insiders and former friends against each other in a case that exemplifies how cutthroat the marijuana business has become. In one corner is Avis Bulbulyan, CEO of SIVA Enterprises and a member of the California Cannabis Advisory Committee, which works […]
Alleged fraud, theft, defamation, drug abuse: Longtime marijuana industry insiders prep for court battle is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
(This story has been updated from an earlier version.) Canopy Growth, a Canadian medical marijuana giant, is taking a massive 5 billion Canadian dollar ($3.8 billion) investment and going all in on worldwide medical and recreational cannabis business opportunities, the company’s CEO, Bruce Linton, said Thursday during an exclusive, wide-ranging question-and-answer session at MJBizConINT’L in Toronto. Constellation Brands […]
Bruce Linton discusses deploying CA$5 billion, Canopy’s commitment to international growth is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
California cannabis taxes continued to miss expectations in the second quarter of 2018, bringing in roughly $74 million to state coffers. The state’s thriving illicit market is likely a big reason, as is the fact that most local governments in California still prohibit legal marijuana businesses and sales. “After six months of legal cannabis sales, […]
Black market cited as CA nets only $74 million on second-quarter marijuana taxes is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Hours after Constellation Brands announced its marijuana-industry-record investment of 5 billion Canadian dollars ($3.8 billion) in Canada’s Canopy Growth, experts told cannabis entrepreneurs and investors at MJBizConINT’L in Toronto on Wednesday that global cannabis business opportunities will rapidly accelerate. The move by Constellation – which owns, distributes and markets 100 beer, wine and spirits brands, including Corona and Robert […]
‘Global paradigm shift’: International cannabis business opportunities will accelerate is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Newly licensed cultivators in Ohio just started putting seeds in the ground, providing additional proof that a launch to the state’s medical marijuana program is still months away. Buckeye Relief, one of three cultivators that have been given the green light to start growing, told The Enquirer of Cincinnati that it planted its first seeds on […]
Ohio growers plant the seeds for medical cannabis launch is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
The Hawaii Department of Health signaled a green light for a medical cannabis dispensary to start growing on the Big Island. Hawaiian Ethos is the seventh dispensary to open a production center in the state and the first on the Big Island. The Big Island, which has the second-highest patient count behind Oahu, was the […]
Dispensary on Hawaii’s Big Island approved to cultivate medical marijuana is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Another U.S. marijuana company is expanding into the Great White North. California-based Kush Bottles, a major provider of packaging, supplies, vaporizers and other accessories for the cannabis industry, announced it is launching Kush Supply, a subsidiary based in Toronto. This follows several other business forays by U.S. cannabis companies into Canada, including Oregon-based Cura Cannabis Solutions, […]
US ancillary cannabis company Kush Bottles expands into Canada is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
A group of Michigan lawmakers asked Gov. Rick Snyder to extend the Sept. 15 deadline for existing businesses to receive their permanent medical marijuana licenses or be required to shut down. So far, the state has issued only 16 operating licenses under a new, stricter regulatory regime, and many experts say that’s not nearly enough […]
Michigan lawmakers call for extension to prevent potential medical marijuana calamity is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Global liquor giant Constellation Brands plans to significantly increase its ownership in Canopy Growth by investing an industry-record 5 billion Canadian dollars ($3.8 billion) to make the marijuana titan its exclusive global MJ partner. Constellation will acquire 104.5 million shares directly from Canopy Growth for CA$48.60 per share, giving the New York-based company – which owns, […]
Constellation invests CA$5 billion in cannabis giant Canopy in deal financed by BofA Merrill Lynch is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
A Missouri organizer for a medical cannabis initiative is suing to remove two related measures from the November ballot. Springfield doctor and attorney Brad Bradshaw filed two separate lawsuits seeking to invalidate the medical marijuana initiatives submitted by New Approach Missouri and Jefferson City attorney Lowell Pearson. State law requires petitions to receive a certain […]
Missouri medical cannabis backer sues to quash rival initiatives is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
In a Savannah, Georgia, warehouse, Smoke Cartel employees file through rows of vaporizers, dab rings and torches, hustling to fill online orders from head shops, dispensaries and consumers across the United States. It’s an operation that less than five years ago began as wishful thinking – launched from the living room of Smoke Cartel co-founders […]
Turning a marijuana pipe dream into a multimillion-dollar head shop: Q&A with Smoke Cartel CEO Darby Cox is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Louisiana’s first medical marijuana crop will take longer than expected to reach patients, and that has some dispensing pharmacies in the state anxious. GB Sciences, the grower for the LSU AgCenter, hoped to provide product to Louisiana’s nine licensed medical marijuana pharmacies by September. But the company told The News-Star the earliest harvest likely will be in […]
Regulatory delay holds up Louisiana’s medical marijuana program is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
North Dakota's Health Department hopes to have medical marijuana available by the end of the year in at least the state's two largest cities, Bismarck and Fargo, though questions remain about how quickly manufacturing facilities will be up and running.
North Dakota could launch medical cannabis program late this year is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Canada-based C21 Investments has nixed a deal to spend up to $8.3 million for a cultivation operation in Maine that subsequently was linked to an alleged black-market grow. The Bangor Daily News reported Tuesday the cancellation of the deal, which C21 had disclosed June 28 in a news release. C21, which has made a flurry […]
Canadian company cancels $8.3 million deal to buy Maine marijuana grow operation is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
A brand-new medical marijuana dispensary in Pennsylvania, excited to be selling actual cannabis flower for the first time to registered patients, offered a special deal last week: two strains of flower for $1 a gram, with a limit of 2 grams. The problem? Pennsylvania forbids such promotions, including any discounts. And the flower in question […]
Pennsylvania cracks down on dispensary for selling cannabis for $1 a gram is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
There is no end in sight to business opportunities in the multibillion-dollar international cannabis industry, experts said Tuesday as the inaugural MJBizConINT’L kicked off in Toronto. More than 2,000 marijuana entrepreneurs and investors from 31 countries are gathering for the three-day, international-focused conference to explore strategies that include: Tapping into international investment capital. Building a global cannabis […]
Multibillion-dollar marijuana industry takes the stage at MJBizConINT’L is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
California cities are pushing back on a proposed change in state regulations that they say would allow unchecked home marijuana deliveries in places that have banned local cannabis sales. The League of California Cities said a proposed rule to permit marijuana delivery statewide would undermine local authority and potentially lure criminal activity. In a letter […]
California cities object to statewide cannabis delivery is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
A pair of voluntary California cannabis product recalls in late July sparked concerns in the industry that other companies would be put in similar situations – and end up spending time and money to ensure their products arrived on retail shelves. Three testing lab executives told Marijuana Business Daily that such fears are likely overblown […]
California marijuana testing labs say product recalls unlikely to be a major concern is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
The Marijuana Policy Project has tapped a former executive at Amnesty International USA and the NAACP as its new executive director, only the second permanent director for the cannabis advocacy organization since its founding in 1995. Steven Hawkins, who has worked in criminal justice reform and civil and human rights for the past three decades, […]
Marijuana Policy Project chooses rights activist Steven Hawkins as executive director is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Supporters of legalizing recreational marijuana in North Dakota have succeeded in bringing the matter to a public vote later this year. Proponents submitted more than the required 13,452 valid petition signatures to get a measure on the November general election ballot, Secretary of State Al Jaeger announced Monday. Supporters submitted 17,695 signatures last month, and […]
North Dakota recreational cannabis measure approved for ballot is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Canada-based C21 Investments continued its blistering U.S. acquisition pace, announcing Monday it is acquiring Oregon’s Grön Chocolate in a deal worth up to $11.2 million. C21 CEO Robert Cheney said in a news release that adding the upscale edibles maker is a critical addition to the vertically integrated MJ company’s strategy to aggressively compete in […]
Canadian firm gobbles up OR marijuana edibles maker in deal worth up to $11M is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Harborside announced Monday it will go public in Canada through a reverse takeover that will allow the iconic California marijuana company to trade on the Canadian Securities Exchange (CSE). Under the terms of the deal, Toronto-based Lineage Grow Co. will acquire all outstanding securities of Oakland-based FLRish – which manages Harborside’s retail and dispensary operations – […]
California cannabis icon Harborside to go public in Canada via CA$200M deal is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
It’s been a year since Hawaii’s first legal sale of marijuana and nearly two decades since the state approved it for medical use, but no retail dispensaries have begun selling on the Big Island. Six out of eight dispensaries have opened on all the major islands except Hawaii island, the Honolulu Star-Advertiser reported Sunday. It’s […]
Despite medical legalization, Hawaii’s Big Island lacks marijuana dispensaries is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Colorado’s retail marijuana sector has seen more consolidation as it’s matured, but relative to more established industries, it remains a highly competitive and open market. It’s a reminder that the dust has yet to settle in the nation’s most developed legal marijuana market – and there will likely be far more consolidation in the years ahead. […]
Chart: How much consolidation awaits Colorado’s retail marijuana market? is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
