• Whole Foods CEO John Mackey to keynote MJBizCon 2020
    Marijuana Business Daily - 13 hours ago
    John Mackey, co-founder and CEO of Whole Foods Market as well as the co-author of “Conscious Capitalism: Liberating the Heroic Spirit of Business,” will serve as the keynote speaker for MJBizCon 2020 in Las Vegas in December. Mackey also co-founded the Conscious Capitalism Movement, which is based on socially responsible…
  • Cannabis firm WeedMD borrows CA$30M from Canadian pension fund
    Marijuana Business Daily - 17 hours ago
    Canadian cannabis grower WeedMD secured a loan worth 30 million Canadian dollars ($22.5 million) from the LiUNA Pension Fund of Central and Eastern Canada, a retirement plan associated with the Laborers’ International Union of North America. “This $30 million of nondilutive financing will enhance our liquidity position and provide additional…
  • Massachusetts nears marijuana delivery from wholesalers
    Marijuana Business Daily - 17 hours ago
    Massachusetts is just a step away from expanding its cannabis home delivery rules, a move designed to benefit social equity applicants as well as provide a second, potentially lucrative wholesale option. The Massachusetts Cannabis Control Commission on Thursday agreed on a two-license structure, with plans to finalize the regulations in…
  • Dutch government seeks to ease doubts over adult-use cannabis trial
    Marijuana Business Daily - 18 hours ago
    As it seeks to ease public concerns, the Netherlands is evaluating applications to grow marijuana under a pilot program to permit limited cultivation and sales of adult-use cannabis. The selection process involves consulting with mayors of the municipalities where the applicants intend to grow. To clear up any confusion and ease…
  • German medical cannabis applications for insurance reach 100,000
    Marijuana Business Daily - 22 hours ago
    Applications for medical cannabis reimbursements with German statutory health insurers (GKV) have hit the 100,000 milestone this year – and 62% were approved, according to data obtained by Marijuana Business Daily. The figure accounts for individual applications submitted since the current program started in early 2017 through mid-2020. This is…
  • SPACs offer marijuana companies a source of funding – and a way to go public
    Marijuana Business Daily - 1 day ago
    A meteoric rise in cannabis special purpose acquisition companies – better known as SPACs – is providing private marijuana and hemp companies an unprecedented opportunity to raise money and go public. “Cannabis SPAC IPOs (initial public offerings) raised more than $2.6 billion (in 2019) and more than $700 million in…
  • Cannabis vape products with cutting agent recalled in Michigan
    Marijuana Business Daily - 1 day ago
    Michigan regulators recalled more than a dozen cannabis vape products sold in the Detroit area for containing a cutting agent linked to vaping-related lung illnesses. The state’s Marijuana Regulatory Agency issued a recall on vape pens that were tested in August and found to contain the thickener vitamin E acetate,…
  • GW Pharmaceuticals cannabis drug gets regulatory OK in Australia
    Marijuana Business Daily - 1 day ago
    GW Pharmaceuticals’ plant-derived CBD drug Epidyolex received approval from Australia’s Therapeutic Goods Administration (TGA) to be used in treating seizures related to Lennox-Gastaut syndrome and Dravet syndrome for patients 2 and older. The approval is the third major global regulatory approval for Epidyolex, GW said in a news release. “The…
  • 4Front closes on sale of three Maryland medical marijuana dispensaries
    Marijuana Business Daily - 1 day ago
    Multistate cannabis operator 4Front Ventures said it has completed the sale of three medical marijuana dispensaries in Maryland for $5.5 million, as the Arizona-based company shifts its focus to adult-use markets such as in Illinois. Philadelphia-based Ethos Cannabis announced in a news release that it acquired the rights to 4Front…
  • Wholesale cannabis bud prices rise significantly in Colorado
    Marijuana Business Daily - 1 day ago
    The average market rate for wholesale marijuana in Colorado hit a three-year high, according to new figures from the Colorado Department of Revenue. For the quarter from Oct. 1 to Dec. 31, the average market rate for a pound of unprocessed retail marijuana bud was $1,316, and the average market…
  • Extreme weather patterns force cannabis growers to rethink cultivation strategies
    Marijuana Business Daily - 2 days ago
    As extreme weather events ravage the country from coast to coast – including wildfires, floods and early freezes – marijuana growers are being forced to reevaluate their risks and consider changes to their cultivation practices. Outdoor marijuana growers, in particular, are vulnerable to severe changes in weather, prompting farmers to…
  • High Times may have lost two California marijuana leases from Harvest deal
    Marijuana Business Daily - 2 days ago
    Los Angeles-based High Times Holding apparently lost the leases on both San Francisco marijuana properties that were a key part of a much-vaunted $80 million retail acquisition from Arizona multistate operator Harvest Health & Recreation. The deal was announced in April. According to SF Weekly, a property at 5600 Geary…
  • California won’t increase cannabis taxes for a year thanks to new law
    Marijuana Business Daily - 2 days ago
    California cannabis companies won’t see their state taxes go up until at least next year. Gov. Gavin Newsom signed into law Assembly Bill 1872 (same language as Senate Bill 827), which prohibits the California Department of Tax and Fee Administration from adjusting the cannabis excise tax markup amount until July…
  • BC won’t compel private cannabis stores to carry Indigenous products
    Marijuana Business Daily - 2 days ago
    Participation in British Columbia’s upcoming Indigenous Shelf Space Program will be voluntary for the province’s privately owned cannabis stores, according to provincial regulators. The relatively small number of government-run stores – 20 so far – will participate, at a minimum. But industry sources expect interest among the 236 (and counting)…
  • Illinois marijuana retail hopefuls drop suit after getting second chance
    Marijuana Business Daily - 2 days ago
    A group of unsuccessful cannabis retail store license applicants in Illinois withdrew their legal challenge against the state after the governor announced an application do-over. “This is what we were trying to achieve,” Jonathan Loevy, a Chicago lawyer representing the 70 marijuana dispensary applicants, told the Chicago Tribune. The federal…
  • Oregon loses at least seven cannabis businesses in wildfires; more damaged
    Marijuana Business Daily - 2 days ago
    Wildfires in Oregon destroyed at least seven marijuana companies and damaged at least a dozen more, according to state regulators, but it’s too early to tell how the fires will affect the state’s cannabis supply chain. According to The Oregonian, seven companies were totally burned in the Beachie Creek, South…
  • Israel medical cannabis patient count hits record as imports soar
    Marijuana Business Daily - 2 days ago
    The number of authorized medical cannabis patients in Israel has more than doubled in the past two years – topping 70,000 – despite persistent supply and regulatory challenges, according to new data from the Israeli Medical Cannabis Agency (IMCA). By type, flower continues to be the most common form of…
  • Montana recreational marijuana ballot measure would allow only local operators
    Marijuana Business Daily - 3 days ago
    Montana voters will decide in November if they want to join the growing list of states with adult-use marijuana, and if they do, the market will be one of a shrinking number that allow only in-state residents to comprise the industry. The ballot measure would also set the first 12…
  • Green Kiosks expands line of sales kiosks
    Marijuana Business Daily - 3 days ago
    September 22, 2020 – Green Kiosks, LLC, an Illinois limited liability company (“Green Kiosks”), a leader in cashiering kiosk services, is expanding its point of sale solutions for the cannabis dispensary industry and developing new standards for the dispensary of the future. Sales Kiosks In the wake of COVID-19, dispensaries…
  • Chocolate in cannabis edibles might compromise potency test accuracy
    Marijuana Business Daily - 3 days ago
    The chocolate in cannabis-infused chocolates may interfere with the accuracy of third-party testing of cannabinoid levels mandated in many jurisdictions. This possibility, set out in a new study underscores the need for the cannabis industry to develop accurate analytical techniques to provide accurate testing of potency and contamination to ensure…
  • Canadian marijuana company Aurora ends fiscal year with CA$3.3B loss
    Marijuana Business Daily - 3 days ago
    Canadian marijuana producer Aurora Cannabis reported a net loss of more than 1.8 billion Canadian dollars ($1.4 billion) for its fourth quarter, ending its 2020 fiscal year with a CA$3.3 billion loss. The quarterly loss includes a previously signaled CA$1.6 billion write-down. Net revenue for the quarter ended June 30…
  • Vermont is one step from legalizing adult-use cannabis sales
    Marijuana Business Daily - 3 days ago
    A bill that would legalize a commercial adult-use marijuana program in Vermont has been sent to the governor’s desk for his signature after the Senate passed the final version Tuesday by a resounding 23-6 margin. Gov. Phil Scott, a Republican, hasn’t said whether he’ll definitely sign the bill – or…
  • Illinois gives recreational marijuana store applicants chance for a do-over
    Marijuana Business Daily - 3 days ago
    Illinois regulators are allowing some applicants for adult-use cannabis retail licenses an opportunity to correct their applications and refile before the state’s lottery for permits. The state announced finalists for 75 retail licenses weeks ago, but only 21 total applicants scored perfectly on their applications, calling into question the state’s…
  • Founder of cannabis firm CannaRegs sued for alleged securities fraud
    Marijuana Business Daily - 3 days ago
    A securities fraud lawsuit filed against the co-founder of the web-based marijuana rules monitoring firm CannaRegs underscores how company sales can lead to court battles among initial investors – a development that could continue as more founders exit the industry. Lester Firstenberger and Sathya Rajavelu, two former CannaRegs executives, said…
  • Consumers’ cannabis buying patterns change markedly in wake of COVID-19 pandemic
    Marijuana Business Daily - 4 days ago
    Consumers’ purchasing patterns involving marijuana have changed noticeably over the past several months in response to the coronavirus crisis. Marijuana shoppers are spending more money per visit to recreational retail outlets. But they are shopping less often, perhaps for safety, or scheduling, reasons. Our heat map of weekly adult-use sales…
  • Metrc awarded Oklahoma’s medical marijuana traceability contract
    Marijuana Business Daily - 4 days ago
    Florida-based cannabis traceability company Metrc locked down the contract for Oklahoma’s medical marijuana program, bringing the firm’s total track-and-trace pacts to 14 states and the District of Columbia. All marijuana businesses in Oklahoma will be required to either integrate with or input their information into Metrc. The implementation is expected…
  • Uruguay blames administrative error for cannabis export confusion
    Marijuana Business Daily - 4 days ago
    Uruguayan authorities are blaming an administrative error for recent communication that medical cannabis shipments from the South American country to Israel would not be able to occur. On Sept. 16, the Israeli health authority notified domestic licensed producers via email that it planned to strengthen quality requirements for medical cannabis…
  • Manitoba weighs on-site cannabis consumption, but not for smoking
    Marijuana Business Daily - 4 days ago
    Manitoba’s provincial cannabis store regulator is considering a new type of cannabis business license that would allow on-site consumption of ingestible and topical marijuana products, but would bar smoking or vaping. The proposed license type could open up new opportunities for cannabis entrepreneurs in the prairie province of 1.4 million…
  • Cannabis REIT makes $56.4 million deal to acquire Florida property
    Marijuana Business Daily - 4 days ago
    Add another cannabis property to Innovative Industrial Properties’ portfolio after the San Diego-based real estate investment trust (REIT) closed a potentially $56.4 million deal to acquire and lease back a marijuana facility in Florida. IIP is acquiring the property in Lakeland, Florida, from Atlanta-based multistate cannabis operator Parallel. Formerly known…
  • British Columbia to reserve shelf space for Indigenous cannabis producers
    Marijuana Business Daily - 4 days ago
    Shelf space in British Columbia’s privately and publicly owned recreational cannabis stores will soon be reserved to highlight products from Indigenous producers. British Columbia to reserve shelf space for Indigenous cannabis producers is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs