• New CA laws allow some marijuana firms to deduct expenses on state returns, help normalize MJ as ag commodity
    Marijuana Business Daily - 2 hours ago
    Cannabis-related bills signed into law by California Gov. Gavin Newsom are significant steps in both providing marijuana businesses with the ability to write off business costs on state tax returns as well as normalizing cannabis as an agriculture commodity for cultivators. On Oct. 12, Newsom signed Assembly Bill 37, which will…
  • Chart: How medical cannabis programs fare in states with recreational markets
    Marijuana Business Daily - 5 hours ago
    The legalization of recreational cannabis can put a big dent in a state’s pre-existing medical marijuana market. Patient counts in Colorado, Massachusetts, Nevada and Oregon – the only states with both an active recreational marijuana industry and a pre-existing MMJ patient database – have all suffered in the months and…
  • CannTrust to destroy CA$77 million in cannabis plants, inventory
    Marijuana Business Daily - 18 hours ago
    Embattled CannTrust Holdings on Monday disclosed it plans to destroy 77 million Canadian dollars ($58.2 million) worth of cannabis plants and inventory as part of the Ontario company’s efforts to regain its suspended business licenses. The company said in a news release its board “has determined that it is necessary…
  • FBI probing potential public corruption in California capital’s marijuana industry
    Marijuana Business Daily - 18 hours ago
    The FBI is investigating suspected corruption involving Sacramento, California, cannabis businesses and public officials. The FBI interviewed marijuana industry officials in California’s capital city over the past few months about potential bribes made in exchange for license approvals and other favorable treatment, The Sacramento Bee reported Monday. The report about…
  • On-site consumption at Anchorage, Alaska, cannabis retailers in voters’ hands
    Marijuana Business Daily - 19 hours ago
    Voters in Anchorage, Alaska, will decide April 7 whether to allow cannabis smoking in retail locations throughout the city. On-site consumption at Anchorage, Alaska, cannabis retailers in voters’ hands is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
  • New California marijuana laws address social equity, labor and vapes
    Marijuana Business Daily - 19 hours ago
    California Gov. Gavin Newsom signed several cannabis-related bills that, among other things, are designed to bolster minority participation in the industry, ensure labor peace and institute a vaporizer cartridge labeling requirement. Here are summaries of the marijuana bills signed into law by the Democratic governor: Senate Bill 595 requires the…
  • California to allow state tax deductions for cannabis businesses
    Marijuana Business Daily - 21 hours ago
    California cannabis businesses will be allowed to deduct expenses on their state income returns after Gov. Gavin Newsom signed a legislator’s proposal into law. Newsom signed into law AB 37, a bill introduced by a fellow Democrat, Assemblyman Reggie Jones-Sawyer The measure will allow such state deductions, starting next year, for…
  • France appears ready to OK funding for a medical cannabis experiment with 3,000 patients
    Marijuana Business Daily - 22 hours ago
    French lawmakers appear ready to approve legislation to bankroll a two-year medical cannabis trial program for 3,000 patients, a move that would give overseas companies the opportunity to export product to what could become one of Europe’s largest markets. Olivier Véran, deputy of the French National Assembly, submitted an amendment to the…
  • Big banking shows more interest in serving cannabis clients after recent SAFE Act passage by US House
    Marijuana Business Daily - 1 day ago
    Banks and other financial institutions are gearing up for potential massive involvement with the marijuana industry after last month’s passage of the SAFE Banking Act by the U.S. House of Representatives. While it remains unclear how the measure might fare in the Senate and if President Trump would sign it into…
  • Social media influencers can help cannabis businesses get around advertising restrictions
    Marijuana Business Daily - 3 days ago
    Social media influencers are people hired by companies to engage with prospective customers via Facebook, Instagram, Twitter and other online platforms. Social media influencers can help cannabis businesses get around advertising restrictions is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
  • Oregon bans flavored marijuana vaping products for six months
    Marijuana Business Daily - 3 days ago
    Oregon became the third state to impose some form of temporary ban on marijuana vaporizers, ordering a six-month halt to the sale of flavored cannabis and tobacco vape products. Oregon bans flavored marijuana vaping products for six months is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news…
  • Deal Watch: Cannabis M&A deals slow in September
    Marijuana Business Daily - 3 days ago
    The breakneck pace of completed mergers and acquisitions in the marijuana industry may be coming to an end. Deal Watch: Cannabis M&A deals slow in September is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
  • Bloom Farms, Cura Partners settle marijuana lawsuit
    Marijuana Business Daily - 3 days ago
    California-based cannabis company Bloom Farms settled a defamation lawsuit filed by Oregon’s Cura Partners for an undisclosed sum. Neither company would disclose details of the settlement of the case filed in January in Alameda County Superior Court in California, according to multiple news reports. Cura claimed in the suit that…
  • Cannabis company Hexo’s stock craters on bad news
    Marijuana Business Daily - 3 days ago
    Days after Hexo’s CFO resigned, the marijuana company announced a huge miss to fiscal fourth-quarter revenue and withdrew its 2020 revenue guidance. Cannabis company Hexo’s stock craters on bad news is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
  • Final draft of Mexico’s bill to legalize cannabis expected Oct. 17, senator says
    Marijuana Business Daily - 3 days ago
    The Mexican Senate’s parliamentary commissions of justice, health and legislative study had a special joint meeting to provide updates on the upcoming legalization of marijuana. During the meeting, Senator Julio Ramón Menchaca Salazar, president of the Justice Commission, emphasized that the Senate’s deadline to legalize is Wednesday, Oct. 23. Senator Damián Zepeda Vidales…
  • Nevada governor forms marijuana task force to attack corruption
    Marijuana Business Daily - 3 days ago
    Nevada Gov. Steve Sisolak on Friday announced he is creating a multiagency task force to “root out corruption or criminal influences” in the state’s legal cannabis market, spurred by federal charges filed against two businessmen with ties to President Trump’s personal lawyer, Rudy Giuliani. The announcement came a day after…
  • ‘It’s confounding’: Former Nova Scotia premier wants Ottawa to fix cannabis banking problems
    Marijuana Business Daily - 3 days ago
    Former Nova Scotia Premier Darrell Dexter is calling on the federal government to address banking issues stymieing legal marijuana businesses across Canada. Almost one year into adult-use legalization, cannabis entrepreneurs and registered not-for-profit trade associations are accusing Canada’s banking sector of gouging and arbitrarily closing bank accounts – sometimes citing U.S.…
  • 55 finalists announced for inaugural MJBizDaily Awards honoring cannabis companies, executives
    Marijuana Business Daily - 4 days ago
    Cultivator of the Year. Regional Game Changer. Community Impact. These are just some of the categories for which the editorial team of Marijuana Business Daily vetted more than 670 entries for the inaugural MJBizDaily Awards. With the list of nominees having been culled to 55 finalists, a panel of cannabis…
  • Week in Review: Cannabis merger goes up in smoke, regulators target MJ vaping, Maine inches toward adult-use sales & more
    Marijuana Business Daily - 4 days ago
    MedMen and PharmaCann scrap their planned merger, state and federal officials act against marijuana vaping, Maine moves toward the launch of recreational MJ sales by the spring – and more of the week’s top cannabis business news.   MedMen, PharmaCann pull the plug MedMen, a California-based cannabis multistate operator, announced…
  • Cannabis companies scale back plans as access to capital tightens
    Marijuana Business Daily - 4 days ago
    Several companies recently announced challenges with financing their expansion plans. The trend doesn’t bode well for many cannabis operators. Cannabis companies scale back plans as access to capital tightens is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
  • Arkansas medical marijuana sales brisk, total $12.3 million for five months
    Marijuana Business Daily - 4 days ago
    Sales of medical cannabis in Arkansas continue at a strong pace, totaling $12.35 million in the first five months of the program. At this rate, sales are on pace to reach the upper end if not exceed Marijuana Business Factbook projections of $15 million-$20 million for 2019. The sales, representing…
  • Vireo agrees to milestone medical cannabis labor pact in Pennsylvania
    Marijuana Business Daily - 4 days ago
    Minnesota-based Vireo Health, a multistate marijuana operator, signed the first vertically integrated medical cannabis labor agreement in Pennsylvania, a deal that is being touted as a win for both the employees and the company. The three-year pact is between Vireo’s Pennsylvania Medical Solutions subsidiary and the United Food and Commercial…
  • US Senate leader McConnell expected to discuss marijuana banking reform
    Marijuana Business Daily - 4 days ago
    U.S. Senate Majority Leader Mitch McConnell is scheduled to talk with cannabis industry executives this week in California about marijuana banking legislation and other issues, perhaps signaling that the Kentucky Republican is open to MJ reform. McConnell is a key gatekeeper in determining whether cannabis banking reform legislation, which recently…
  • Los Angeles attorneys group creates cannabis law practice area
    Marijuana Business Daily - 4 days ago
    The Los Angeles County Bar Association (LACBA) approved a new law practice section specifically focused on marijuana, a move that could make it easier for a cannabis business operator to find a lawyer knowledgeable in the fast-growing and complex MJ industry. California is the largest legal marijuana market in the…
  • Hexo, Green Organic Dutchman’s woes may be a harbinger for Canadian cannabis businesses, analysts say
    Marijuana Business Daily - 4 days ago
    Some Canadian cannabis companies are facing a financial squeeze because of the country’s slow rollout of recreational marijuana stores and a dwindling pool of available funding. Quebec cannabis producer Hexo Corp.’s lower fourth-quarter revenue projection and Ontario-based The Green Organic Dutchman’s capital issues could be a sign of things to…
  • REIT inks $42 million deal with LivWell for Michigan marijuana warehouse
    Marijuana Business Daily - 4 days ago
    Innovative Industrial Properties, a real estate investment trust (REIT) focused on the cannabis industry, bought a warehouse in Michigan from LivWell Holdings in a $42 million sales-leaseback deal. San Diego-based Innovative Industrial paid $19 million to LivWell Michigan for the 156,000-square-foot warehouse in Warren, Michigan. LivWell Michigan, whose parent is…
  • Efforts intensify to battle corruption involving local government officials and cannabis industry
    Marijuana Business Daily - 5 days ago
    Law enforcement authorities across the country, including the FBI, have cast a wide net in their efforts to root out corruption among local government officials overseeing the marijuana industry. The crackdown has ensnared local government and cannabis industry officials in states such as California, Massachusetts and Michigan. Charges have included…
  • Washington state temporarily bans flavored marijuana vaping products, targeting a third of top-selling MJ vapes
    Marijuana Business Daily - 5 days ago
    Washington state health regulators voted overwhelmingly on Wednesday to impose a temporary halt on the sale of flavored tobacco and marijuana vaporizer products, making it the second state after Massachusetts to ban cannabis vapes in some form. The Washington Board of Health voted 7-1 in favor of adopting the 120-day…
  • Michigan cannabis testing lab to pay $100,000 to resolve alleged violations
    Marijuana Business Daily - 5 days ago
    A Michigan medical marijuana testing laboratory whose license was suspended in August for alleged safety violations has agreed to pay a $100,000 fine to resolve state charges. Iron Laboratories of Walled Lake also agreed to improve its procedures and provide additional data and reports to state regulators. The laboratory entered into the…
  • California awards cities $10 million in social equity marijuana grants
    Marijuana Business Daily - 5 days ago
    Ten cities in California will divide $10 million from the state’s Bureau of Cannabis Control to help social equity programs in those municipalities. Top grant recipients include Los Angeles and Oakland, which will get almost $3.5 million between them. The grant awards, which were delayed from June, also includes Coachella…