• Australia claims it has enough cannabis flower to meet demand, but industry says otherwise
    Marijuana Business Daily - 1 hour ago
    The amount of medical cannabis flower Australian companies are authorized to produce exceeds current and anticipated future domestic demand, federal health authorities said in a document, adding that any “depiction of the situation as a shortage is not accurate.” But industry officials beg to differ, saying the country lacks a…
  • Harvest expands medical cannabis market reach by buying Arizona rival
    Marijuana Business Daily - 4 hours ago
    Arizona’s largest medical cannabis company, Harvest Health & Recreation, grew its footprint in the state by acquiring competitor Arizona Natural Selections. Under terms of the deal, Harvest received: Vertical licenses for three operating MMJ dispensaries and a fourth location to be opened. A 55,000-square-foot grow facility. A 322-acre site containing a…
  • Australis ends purchase of Colorado CBD firm after lurid charges emerge
    Marijuana Business Daily - 5 hours ago
    Australis Capital, a cannabis investment firm based in Las Vegas, terminated its planned acquisition of hemp company Folium Biosciences in the wake of shocking headlines that surfaced regarding the Colorado company it was going to purchase only two months ago. Australis, a spin-off of Canadian marijuana producer Aurora Cannabis, said…
  • Alberta cannabis cultivators eligible for agriculture grants
    Marijuana Business Daily - 5 hours ago
    Cannabis producers and processors in Alberta, Canada, might be able to access a suite of cost-sharing programs through the Canadian Agricultural Partnership (CAP), a joint federal-provincial initiative, if they meet eligibility requirements. Previously, the Ministry of Agriculture and Forestry, which administers CAP in the province, had not taken a position as to…
  • Multistate operators hog Missouri medical cannabis licenses
    Marijuana Business Daily - 6 hours ago
    Missouri granted medical marijuana licenses to some of the largest multistate cannabis operators in the U.S., leading to a flurry of complaints from applicants who were rejected. A Missouri cannabis trade group also won a coveted license, according to an analysis of state records by the St. Louis Post-Dispatch. The influx…
  • Peru sells out of medical cannabis
    Marijuana Business Daily - 8 hours ago
    Peru’s only medical cannabis product is out of stock, not even three months after sales began. This means patients have no option to legally access regulated medical cannabis in the domestic market, according to industry sources. Francesca Brivio, who represents a Peruvian patients association, wrote on her Facebook page that there’s no…
  • California Marijuana Notebook: How illicit market competition, industry divisiveness hound the state’s legal cannabis market
    Marijuana Business Daily - 14 hours ago
    It’s an open secret in the California marijuana industry that since the state launched licensed adult-use sales in 2018, many – if not most – legal operators have done business illegally to some degree. California Marijuana Notebook: How illicit market competition, industry divisiveness hound the state’s legal cannabis market is a…
  • Investment experts shed light on marijuana prospects in 2020
    Marijuana Business Daily - 1 day ago
    The cannabis investing landscape has changed significantly in the past 12 months. A year ago, the industry saw a record number of deals of record size; now, capital has become a precious commodity. Investment experts shed light on marijuana prospects in 2020 is a post from: Marijuana Business Daily: Financial,…
  • California extraction firm that serves cannabis sector sells for $50 million
    Marijuana Business Daily - 1 day ago
    Gibraltar Industries, a diverse manufacturing company based in Buffalo, New York, paid $50 million for the assets of Delta Separation, an ethanol extraction equipment manufacturer that sells to the cannabis and hemp industries. California extraction firm that serves cannabis sector sells for $50 million is a post from: Marijuana Business…
  • Grassroots Cannabis inks $19.7 million sale-leaseback deal
    Marijuana Business Daily - 1 day ago
    NewLake Capital Partners is buying and leasing back 10 marijuana retail stores in six states from Chicago-based Grassroots Cannabis in a deal valued at up to $19.7 million. NewLake, which also is headquartered in Chicago, has closed on six of the sale-leaseback deals with Grassroots’ parent company, GR Companies. The…
  • Scatterday appointed CEO of marijuana tech firm Tilt Holdings
    Marijuana Business Daily - 1 day ago
    Tilt Holdings, a Massachusetts-based cannabis company with a focus on technology, on Wednesday installed Mark Scatterday as permanent CEO. He had served as the company’s interim CEO since May 2019. In another move, Tilt announced that Chief Operating Officer Tim Conder also will serve as company president. Scatterday told Marijuana Business Daily last…
  • Colorado marijuana sales soar to $1.75 billion in 2019
    Marijuana Business Daily - 1 day ago
    Colorado’s recreational and medical cannabis retailers sold a record $1.75 billion in product last year, increasing the state’s total to a whopping $7.79 billion since the 2014 launch of adult-use sales. Adult-use and medical marijuana sales in the state increased 13% from 2018, according to figures the Denver Post obtained…
  • Pay to play: Cannabis brands fork over cash for retail shelf space
    Marijuana Business Daily - 1 day ago
    The increasingly competitive cannabis market is fostering a pay-to-play mentality among both marijuana retailers and the brands they carry. Known as slotting fees, the practice requires brands to pay anywhere from $500 to $15,000 a month for premium space on marijuana retailers’ store shelves. Cannabis industry experts recommend marijuana brands…
  • Majority of German parliament favors recreational cannabis reform, but change neither sure nor imminent
    Marijuana Business Daily - 1 day ago
    One of the German government coalition parties clarified its stance on recreational marijuana last week in favor of decriminalizing possession and allowing pilot programs involving the legal distribution of adult-use cannabis. With the Social Democratic Party of Germany (SPD)’s new position, a majority of the members of the German parliament…
  • Canadian beer sales continue slide in face of rising cannabis sector
    Marijuana Business Daily - 2 days ago
    The Canadian beer market suffered its biggest decline in years in 2019 as competition increased from other beverage categories and an expanding cannabis industry. Sales volume of domestic and imported beer fell 3% last year from 2018, the steepest decline in at least seven years, according to data from industry…
  • Marijuana cultivator’s CO2 partnership with craft beer brewer saves money, makes MJ firm more eco-friendly
    Marijuana Business Daily - 2 days ago
    Two of Colorado’s most high-profile industries – cannabis and beer – recently joined forces under a state-supported pilot project aimed at curbing greenhouse gas emissions. It’s cheaper – about a 10th of the cost – for cannabis businesses to buy carbon dioxide (CO2) from craft beer companies rather than a…
  • New Mexico banning nonresident medical cannabis sales
    Marijuana Business Daily - 2 days ago
    In a move that could hurt sales at medical marijuana dispensaries in New Mexico, the state is ending the program that allowed MMJ cards for nonresidents. The Legislature approved a bill phasing out the nonresident program in mid-year. The legislation is supported by Gov. Michelle Lujan Grisham. More than 600…
  • Republican legislators urge key US senator to oppose marijuana banking
    Marijuana Business Daily - 2 days ago
    A dozen Republican members of the U.S. House of Representatives are urging U.S. Senate Banking Committee Chair Mike Crapo to oppose legislation that would allow financial institutions to provide banking services to the marijuana industry. The 12 legislators voted against the so-called SAFE Banking Act last September, though the measure was approved by the full…
  • Chart: New York’s medical marijuana program grows, but future business opportunity hinges on adult-use legalization
    Marijuana Business Daily - 2 days ago
    While New York’s medical cannabis patient registry increased by more than 23,000 in 2019, growth has slowed significantly because of various market factors leading to a low consumer participation rate. Less than 1% of New York residents have signed on as medical marijuana patients, due in part to restrictions on…
  • Nevada’s new cannabis regulatory board is taking shape
    Marijuana Business Daily - 3 days ago
    A former state Supreme Court justice and an ex-gambling regulator have been appointed to Nevada’s new state marijuana industry oversight board. Democratic Gov. Steve Sisolak announced that: Retired Justice Michael Douglas will chair the Cannabis Compliance Board. Retired Nevada Gaming Control Board Chair Dennis Neilander will help create the five-member regulatory body.…
  • Iowa board rejects two medical marijuana conditions
    Marijuana Business Daily - 3 days ago
    In a setback for Iowa’s small and limited medical cannabis program, state regulators rejected recommendations to add two more qualifying conditions for those who could be treated with MMJ. The Iowa Medical Cannabidiol Board turned down recommendations to change state’s medical marijuana laws to allow treatment for panic disorders and…
  • Colorado cannabis firms top sponsors of highway advertising
    Marijuana Business Daily - 3 days ago
    Marijuana companies are now the single largest sponsors of Colorado highway cleanups, leveraging a loophole in the state’s strict limits on marijuana advertising. MJ companies are sponsoring two-thirds of the roads maintained by Clean Colorado program, which allows them to put their names on signs along the roads. According to Adopt a Highway…
  • New Zealand hosts medical cannabis workshops for industry, aboriginal stakeholders
    Marijuana Business Daily - 3 days ago
    New Zealand regulators are hosting a series of workshops starting this week to give aboriginal and industry stakeholders the information they need to prepare applications for federal medical cannabis licenses – including cultivation, research and supply. The workshops will take place in February and March at six locations throughout the…
  • Approvals soar for outdoor cannabis cultivation in Canada, with 100-plus applicants in line
    Marijuana Business Daily - 3 days ago
    As a growing number of Canadian cannabis cultivators retreat from costly greenhouse expansions, more applicants than ever are readying lower-cost outdoor projects. The number of authorizations to cultivate marijuana outdoors doubled to 33 so far this year from last summer’s 17, according to new figures from Health Canada. Ten of…
  • Prices for Colorado wholesale cannabis flower firm up in response to fewer growers, healthy demand
    Marijuana Business Daily - 3 days ago
    Colorado cannabis cultivators report strong prices for wholesale flower reflecting healthy demand and fewer growers after competition forced out weaker operators. Prices for Colorado wholesale cannabis flower firm up in response to fewer growers, healthy demand is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis…
  • Volatility in the cannabis sector has opened opportunities for willing investors
    Marijuana Business Daily - 4 days ago
    New York-based investment firm Navy Capital is bullish on the cannabis industry. Since 2016, the company has invested about $200 million in roughly 40 different cannabis companies. Volatility in the cannabis sector has opened opportunities for willing investors is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news…
  • Week in Review: NM nixes adult-use cannabis bill, Aurora posts big loss, Trump seeks money to regulate CBD/hemp & more
    Marijuana Business Daily - 5 days ago
    A New Mexico Senate panel scraps legislation to legalize recreational marijuana, Aurora Cannabis reports a steep loss for its second quarter, President Trump’s 2021 budget proposal seeks additional money for the federal government to regulate hemp and CBD – and more of the week’s top cannabis business news. New Mexico…
  • MJBizDaily launches annual marijuana industry survey seeking business data
    Marijuana Business Daily - 6 days ago
    Help Marijuana Business Daily help you by participating in the eighth annual survey of cannabis industry executives and investors. The undertaking that will help Colorado-based MJBizDaily provide key market, financial and operational data for businesses and entrepreneurs. Owners, founders and executives with dispensaries/retail stores, commercial cultivation operations, infused product manufacturers and vertically integrated businesses…
  • Nevada cannabis testing lab fined $70,000 for inflating THC levels
    Marijuana Business Daily - 6 days ago
    A Nevada marijuana testing lab inflated THC levels on cannabis products by as much as 10%, according to a settlement agreement approved by state regulators. Certified Ag Labs, which runs a marijuana testing facility in Sparks, was suspended by regulators last November for reporting inaccurate THC results. Marijuana with higher THC…
  • Canadian cannabis firm Canopy sees stock soar on revenue growth
    Marijuana Business Daily - 6 days ago
    Canadian marijuana giant Canopy Growth on Friday reported fiscal third-quarter net revenue that soared 62% from the second quarter, jumped 49% from its third quarter in 2019 and drove up its stock by double-digit figures. The Ontario-based company, which has an estimated 22% share of the Canadian recreational marijuana market, reported revenues…