Tag: Industry
NY lawmakers race the clock, Minnesotans mobilize for adult use, earnings watch & more
5/13/19--This week, Marijuana Business Daily featurs notable stories and events to watch for in the coming days: New York adult-use marijuana legalization supporters are working feverishly to get a final bill together by June 19. In Minnesota, the push to legalize adult-use marijuana ramps up this week. And, Canadian risk-management and security services firm 3 Sixty RiskSolution plans to release its earnings results for the first quarter. Read ICCI Announces Steph Sherer as President
4/25/19--International Cannabis and Cannabinoids Institute (ICCI) announces its co-founder, Steph Sherer, as President. Sherer has made medical cannabis available to patients worldwide. During her time as Executive Director of ASA, Sherer was responsible for the drafting of some of the first distribution laws in the United States and has been a leader in bringing patients to the table with lawmakers. Read Beyond Massachusetts, states struggle to limit marijuana behemoths
3/21/19--Massachusetts is not the only state struggling to limit the dominance of large marijuana companies. Maryland bars companies from owning more than one store. In December, the Maryland Medical Cannabis Commission expressed concern about a “proliferation” of management agreements, saying it had objected to at least a half-dozen that appeared to skirt state regulations. But the commission announced in January it will wait for guidance from the state’s Legislature before taking further action. Read Medical marijuana gaining traction as alternative to prescription drugs
2/27/19--Overall, the number of countries that have already moved to legalize marijuana on some level has prompted other countries to consider marijuana for medicinal use as well. According to data compiled by Imarc Group, the global medical marijuana market was estimated to become more than 11 billion dollars (US) in 2017. Read How New York is preparing for legal weed
2/21/19--New York Governor Andrew Cuomo has proposed the “Cannabis Regulation and Taxation Act” (CRTA), which would legalize marijuana for adults over 21, and create an Office of Cannabis Management (OCM) to oversee a new recreational marijuana program, as well as the existing medical program. Cuomo has said that he’d like to see state lawmakers vote on the bill in April, and if passed, it would be effective immediately, with retail sales starting early next year. Read Why the legal cannabis industry loves the Ford Transit van
2/27/19--In order to transport both marijuana and cash, a nondescript-looking Ford Transit cargo van has emerged in US states (and Washington, DC) where marijuana is legalized. Though not as rugged as the armored cars banks use, the Transits used by marijuana businesses undergo all kinds of security upgrades that get them close enough. Read Trump ousts cannabis threat Jeff Sessions as attorney general
11/7/18--U.S Attorney General Jeff Sessions, who less than a year ago stunned the marijuana industry by ripping up Obama-era protections for state-legal MJ businesses, has been forced out by President Trump. The development could ease industry concerns that the Department of Justice will unleash a crackdown on state-legal marijuana businesses – though much will depend on whom Trump picks as Sessions’ permanent replacement. Read Pot group predicts $1B in Nevada tax revenue over 7 years
10/26/18--The state of Nevada could reap more than $1 billion from marijuana production, processing, and robust sales during the first seven years of recreational pot sales, according to an industry group’s economic analysis released Friday. The 33-page report was made public just weeks after state officials reported first-year taxable pot sales totaled almost $530 million, exceeding expectations by some 40 percent. Nevada received just under $70 million in tax revenues on that figure. Read Verano™ Holdings launched to consolidate national cannabis assets with $120 million financing and Acquisition of Florida licenses
10/23/18--Verano Holdings, LLC Co-founders George Archos and Sam Dorf today announced an $120 million financing comprised of $88 million equity investment by Toronto-based Scythian Biosciences Corp., an additional private financing of $32 million, as well as acquisitions, transactions, and executive hires that bring together numerous successful marijuana enterprises under the newly created Verano Holdings, LLC, and verano™ master brand. Read Two-day stint for Palisade trustee
4/13/18--Jesse Loughman, owner of Palisade's only retail and medical marijuana stores, resigned as a trustee in Tuesday's municipal election less than 48 hours later in order to keep his day job. Loughman said he learned from officials with the state's Marijuana Enforcement Division that he could not act as a town trustee while holding marijuana licenses for the town. Read
Action Alerts
10/19/18--Representing nearly 2,000 member-businesses and tens-of-thousands of cannabis professionals, the National Cannabis Industry Association (NCIA) is leading the charge to protect legal cannabis businesses, defend state laws, and advance federal policy reforms. Read Event aims to help millennials of color break into the marijuana business
9/26/18--The Boston Cannabis Control Commission, the Greater Boston Chamber of Commerce, and Roxbury’s National Center of Afro-American Artists hosted an event on Tuesday night for millennials of color to network and talk about equity and breaking into the retail marijuana industry. Read WeedMD signs cannabis supply agreement with Nova Scotia liquor corporation
8/27/18--WeedMD announces that it has entered into a purchase agreement with the Nova Scotia Liquor Corporation (“NSLC”) to supply its branded cannabis products for the adult-use cannabis market in Nova Scotia. Read ‘I don’t think I look like a stoner’: the women changing the face of the cannabis industry
8/12/18--As weed’s legal status loosens across the US, the way cannabis is being marketed, sold, and celebrated is evolving. An industry that has been dominated by men is finding a female voice in consumers and new business owners. There are now yoga retreats, workouts, day spas, parties, conferences – all for women who like weed. As the weed market continues to grow, women are shifting perceptions of the drug and its users. Stoner stereotypes are being knocked back and women are talking openly about the place weed has in their lives. Read Journal Times editorial: Pot referendums could sway election
8/12/18--This coming November, City of Racine residents will have the chance to vote in an advisory referendum on the question of whether marijuana should be legal for medicinal and/or recreational use, as well as what the potential revenue should be used for. Keeping in mind the fact that the marijuana referendums could sway the election, the poses the question: Is this the right time? Would April be a better time? Read Colorado company changing name to add ‘hemp,’ remove ‘pot’
7/3/18--PotNetwork Holdings, a Colorado CBD maker, is changing its name to to BioTech Hemp to take the word “pot” out of its title and add “hemp.” The company, which owns the brand Diamond CBD, said the change “underscores the company’s strengthening identity as a dominant player in the CBD industry.” Read Pot peddlers are declaring war on booze
1/15/18--Marijuana boosters have declared war on booze. The number of billboards and other advertisements aimed at converting drinkers into tokers or nibblers of edible marijuana has exploded over the past several years. Read Wholesale pot prices plummet
12/27/17--As California counts down to the commencement of a new recreational cannabis industry, the wholesale price of pot has been crashing. Wholesale prices have been dropping for a decade, and the decline has accelerated in the past year due to an overabundance of unregulated weed. Read Tripp Keber resigns as CEO of marijuana edibles powerhouse Dixie Brands for new role
12/15/17--Tripp Keber, the co-founder and CEO of Dixie Brands, resigned from the company Friday afternoon, effective immediately, to assume a new role in the marijuana industry. He will be taking on a “leadership role” with Rose Capital. Rose is one of Dixie’s largest funding partners and is taking the lead on new investment to help Dixie expand nationally and overseas. The resignation is part of a move that will partner Dixie with an upstart private equity company that is assembling a portfolio of infused products companies. Read Medical Marijuana, Inc. announces prominent coverage on Mexican news station about benefits of CBD and Global CBD Policy
11/2/17--During a recent interview on Azteca TV Mexico, Raúl Elizalde, General Manager of subsidiary HempMeds® Mexico, explained that the World Health Organization will address cannabidiol along with a list of other substances that they are analyzing to know if they need to be updated and scheduled as psychoactive substances. Read California congressman calls for action from cannabis industry
9/22/17--Freshman Congressman Lou Correa, a Democrat from Southern California, urged the business community to contact their members of Congress about the renewal of the Rohrabacher-Blumenauer Amendment, which he said could be in danger of expiring in December. “I’ll tell you, there are a lot of folks up there that are ready to support you,” Correa said of Congress. But, he added, more outreach and education is sorely needed from the marijuana industry. Read Law school podcast: Cannabis and the law
9/21/17--In the 14th episode of Northwestern Pritzker School of Law’s Planet Lex podcast series, host Dean Daniel Rodriguez talks to Charlie Bachtell, CEO of Cresco Labs, and Northwestern Law alumna Dina Rollman, chief counsel at Green Thumb Industries (GTI), about the complexities of the marijuana industry, including how Illinois has set a precedent for regulatory programs, the banking challenges facing cultivators, and the battle for more research within the United States. They also discuss the role of lawyers within the cannabis business, and how they each got involved in this new and evolving industry. Read California marijuana services firm sets up shop in Boston, joins Chamber of Commerce
9/17/17--Weedmaps, one of the country’s larger and more established marijuana firms selling software to licensed cannabis operators, is finalizing a lease for a downtown Boston office to accommodate its sales and lobbying team. Its executives want to be in close to the rollout of new rules for the nascent industry in Massachusetts and have the firm well-established locally by the time dispensaries open up next summer. Weedmaps also just became the first marijuana-related company to join the Boston Chamber of Commerce. Read
Marijuana producers announce multimillion-dollar pot deals with New Brunswick
9/15/17--Provincial Finance Minister Cathy Rogers and Health Minister Benoît Bourque announced that New Brunswick has struck deals with two licensed medical marijuana companies -- Moncton, N.B.-based Organigram Holdings Inc. and Smith Falls, Ont.-based Canopy Growth Corp -- to help supply its recreational market when the federal government’s planned legalization of recreational cannabis goes into effect next July. The company claimed the arrangement has an estimated annual retail value of $40 million to $60 million. Read Eaze is moving into recreational marijuana delivery with $27 million in new funding
9/14/17--As California is set to begin issuing licenses for the cultivation and selling of the plant for recreational use at the beginning of 2018, a whole new revenue stream is opening up for the weed delivery startup Eaze, which just raised $27 million in Series B financing and claims a 300 percent year-over-year increase in gross sales. Read Meet the 24-Year-Old entrepreneur who just launched a careers site for pot jobs
8/31/17--Karson Humiston, a Denver-based 24-year-old entrepreneur who founded Vangst Talent Network as a college student, has helped cannabis companies fill job openings for the last two years. Since then, her 20-person recruiting team has paired 3,000 people with pot jobs — and aims to fill another 10,000 by 2020. The job board, which is free for users who fill out profiles and $70 a month for companies, caters to a broader array of positions. Read How to get a job in the marijuana industry
8/30/17--A recruiting agency for legal cannabis firms has launched a website that aims to serve as a one-stop shop for employers and job seekers. The site, Vangsters.com, allows hopefuls to apply to jobs and crate employee profiles, with a focus on marijuana-specific skills and software. Read Local owners open RIPE upscale marijuana store
9/1/17--The city of Pueblo's newest retail marijuana store, RIPE, short for Rooted in Pueblo Excellence, features a sleek "industrial chic" open-floor approach designed to appeal to novices and experts alike. Owners Susan Singleton and Nick Christensen wanted a showcase store for Pueblo. "We kind of designed our's like an Apple store," Singleton said of the store. Read “Made in Alaska” program welcomes marijuana businesses
9/2/17--The state-sponsored “Made in Alaska” program that allows a business to use a featured logo if its products are made in the state is accepting applications from marijuana businesses. Marijuana businesses are still barred from using the official “Alaska Grown” label put on state agricultural products because that program receives federal funding, but the “Made in Alaska” program, whose label features a polar bear and a black bear, does not receive federal funding, which is why it can be opened to marijuana businesses. Read Tiny Colorado town has a weed store for every 170 people
8/31/17--Parachute, a community of only about 1,200 people just off Interstate 70, has approved its seventh recreational marijuana store. This Colorado town, which turned to pot when its natural gas tax revenue took a hit, continues to establish itself as a destination for drivers for that stretch of the I-70 corridor. Read Scotts Miracle-Gro sells off international operations to focus on core business and hydroponics
8/31/17--Scotts Miracle-Gro has shed its Australia and European businesses in a deal that frees up the company to direct its attention on lawn-and-garden products and an ambition to become “the world’s most successful hydroponic gardening business.” The international deal comes a year after Scotts shuttled its LawnService business into a joint venture with TruGreen. Read How 3 black visionaries are bringing the hood into the marijuana industry
8/30/17--The Hood Incubator, a collective founded by electoral organizer Lanese Martin, community organizer Biseat Horning, and Yale MBA Ebele Ifedigbo, is an organization aimed at helping blacks become entrepreneurs, investors, and employees in California’s cannabis industry. Their plan was to organize people in the San Francisco Bay Area’s underground marijuana trade, educate them, teach them how to get access to funding or invest their own, and create pathways to ownership legally. Read Women in the marijuana business face a ‘grass ceiling’
8/31/17--Not long ago the marijuana business was way ahead of U.S. business overall in the leadership positions held by women. Yet, as the industry has become more mature and more mainstream, instead of building on that leadership, it’s going in reverse. Men are now edging out the women. The percentage of executives in U.S. marijuana-related companies who are women has collapsed to 27% from 36% in just one year, according to the latest anonymous survey by Marijuana Business Daily. Read Legal marijuana bringing sweet smell of success for producers, city
8/26/17--With local voters favoring legalization, the city of Arlington is poised for economic development. The mainstreaming of marijuana is big business in Arlington, creating jobs and revenue while becoming good corporate partners with the community to address pressing social issues and lending a hand through volunteer projects. The city counts 14 producers inside the city limits, and 30 overall with an Arlington address, ranging from intimate mom and pop farm growers to industry leaders. Read Medical marijuana gets the green light in Tampa
8/24/17--City council members gave medical marijuana the green light in Tampa. In a 6-1 vote, council members approved an ordinance regulating dispensaries and processing facilities within city limits. The ordinance bans dispensaries and grow facilities 500 feet from a school, but it also lets owners request an exemption to open up shop inside that restricted area. Locations are limited to commercial, retail, and industrial districts, and are not allowed in residential areas. Read Santa Ana marijuana dispensary modernizes the way to purchase pot
8/24/17--MedMen, one of the largest marijuana retailers in the country, opened its newest medical marijuana dispensary in Santa Ana, offering around 1,000 products, including concentrates, flour, edibles, canine/feline products, and topicals. The store aims to make this a true retail experience by being innovative and bringing in new products as well as placing iPads on tables so a customer can interact and learn about a product. MedMen plans to sell recreational marijuana in January — if the city allows it. Read Marijuana tech company Massroots is acquiring CannaRegs for $12 million
8/23/17--Massroots, a technology platform for cannabis consumers, is acquiring CannaRegs in a stock deal for $12 million. The acquisition allows MassRoots to become a one-stop shop for cannabis businesses, to connect with customers and ensure they're in compliance with all state and federal regulations, Massroots CEO Isaac Dietrich told Business Insider. The acquisition is part of a larger push to consolidate Massroots' business-to-business offerings. Read State of Mexico begins purchasing Medical Marijuana Inc.’s products for its citizens
8/22/17--The State of Mexico is buying Medical Marijuana Inc.'s HempMeds® RSHO-X cannabidiol (CBD) oil for its citizens. With several U.S. states legalizing marijuana, Mexico has started to take a different approach under President Enrique Pena Nieto. The country has even become a pioneer of medical cannabis by first permitting the importation of cannabidiol ("CBD") oils and later legalizing medical cannabis on a broader level. Newly proposed measures would enable citizens to possess up to an ounce of cannabis without any repercussions. Read Industry pros will dispel marijuana myths at the Cannabis Life Conference
7/5/17--During the Cannabis Life Conference, renowned industry professionals including doctors, lawyers, growers, activists, and more plan to enlighten attendees about the benefits of cannabis, including the possibilities of using cannabis for cancer. Read International standards organization to tackle cannabis
6/13/17--Pennsylvania-based ASTM International, a not-for-profit that has developed professional standards for a host of industries, is now going to tackle marijuana in a newly announced partnership with the American Herbal Products Association. The groups have signed a memo of understanding to cooperate on a set of professional standards for the cannabis industry. Read Cannabis organizations merge to create certification group
6/7/17--The Organic Cannabis Association and the Ethical Cannabis Alliance have merged into a new organization: the Cannabis Certification Council. The council’s mission will be to independently certify cannabis products as organic and “fairly produced.” The new organization will issue seals that businesses can use to market products. Read Some cities, states help minorities enter marijuana industry
6/1/17--Oakland as well as other cities and states with legal marijuana are trying to make up for the toll marijuana enforcement has taken on minorities by presenting an opportunity for them to join the growing marijuana industry. Seemingly, there is no solid data on how many minorities own U.S. cannabis businesses or seek a foothold in the industry. Yet, diversity advocates say the industry is overwhelmingly white. Read Wine and cannabis? Oregon vineyards give marijuana farming a try
5/25/17--In Oregon, a handful of winemakers are experimenting with cannabis in hopes of increasing their appeal among young consumers and in niche markets. Some vineyards are trading in grapes for marijuana plants or leasing land to private growers. Others are talking about wine-and-weed tourism. Yet, marijuana is still federally illegal, and wineries must keep their wine and weed businesses separate or risk losing a federal permit that allows them to bottle and sell wine. Read Management of marijuana operation changes hands
5/25/17--Aphria Inc., a marijuana grower and processor based in Ontario, will take over management of Chestnut Hill Tree Farm, one of Florida's seven medical marijuana operators. This deal comes on the verge of a massive expansion of Florida's medical-marijuana market, sparked by a November constitutional amendment that broadly legalized medical pot. Read John Morgan ‘prepared to invest $100M’ in medical marijuana
5/23/17--John Morgan, who has been among the loudest voices advocating for medical marijuana in Florida, has spent nearly $7 million pushing two statewide ballot initiatives to expand medical marijuana throughout the state of Florida. Morgan says he's now prepared to invest $100M in medical marijuana since the the industry is about to explode. He's also interested in owning a stake in a state-licensed dispensing organization. Read Adelanto wants to be the ‘Silicon Valley of medical marijuana’
5/20/17--As California moves toward issuing permits for large-scale medical marijuana cultivation next year, a number of struggling desert cities have sought to establish themselves as destinations for growers. In Adelanto, investors with backgrounds in real estate development, law, and the NBA, but little experience growing marijuana, envision a town bustling with marijuana-related businesses — cultivation warehouses, cannabis-oil extraction facilities, and a host of associated projects to supply California’s massive market. Read Here’s how US marijuana sales could hit $6 billion this year, if Trump doesn’t get in the way
5/22/17--The retail sales for both medical and recreational marijuana are expected to reach a record high in 2017, provided there isn’t a significant crackdown at the federal level. Cannabis sales are projected to hit $5 billion-$6 billion and could reach $17 billion by 2021, reported Marijuana Business Daily. Based on the 2017 projected sales, many are expecting the industry growth to create more jobs in the U.S. than several other industries. Read Cannabis firms in Colorado, Florida partner to provide pharma-quality MMJ products
5/18/17--Cannabis products firms Wana Brands and Alternative Medical Enterprises LLC have inked a deal that’s one part national expansion play and another part investment in a growing trend: pharmaceutical-quality medical marijuana. The agreement allows for AltMed to manufacture and sell Wana’s product portfolio in Arizona, and Wana can manufacture and sell AltMed’s line of Müv medicinals — including metered dose inhalers, transdermal patches, and topical products — in Colorado. Read 5th annual Mother’s High Tea celebrates cannabis industry’s influential women
5/17/17--The fifth annual Mother’s High Tea brought some of the most influential women in cannabis together to remember their struggles, honor their successes, and uphold a new generation of leaders. The non-consumption event also marked a milestone for event founder and Cannabist contributor Susan Squibb, who is celebrating 20 years of advocacy for marijuana and hemp law reforms. Read Why a Clarence company is taking the high out of marijuana
4/6/17--A fledgling Clarence company, 22nd Century Group, thinks it has discovered a way to turn industrial hemp into the next big agricultural crop. The variability of the plant is what excites Paul Rushton, 22nd Century's vice president for plant biotechnology. If 22nd Century can get rid of the THC in industrial hemp, Rushton believes its technology can do the same with marijuana. Read A real estate boom, powered by pot
4/1/17--Legalized marijuana is having an effect on the real estate market. From Monterey, Calif., to Portland, Me., the new industry is sending property values soaring. Landlords and property owners are charging a premium for new tenants working in the cannabis business. So far, the uptick in property prices from the marijuana business is concentrated in some of the states that have legalized medical and recreational use. Read Marijuana producers lobby government ahead of legalization
3/30/17--Several licensed marijuana producers in Ottawa are urging the federal government to allow them to brand their products and provide medical cannabis on a tax-free basis. The seven producers - Tilray, Tweed, Mettrum, CannTrust, Green Organic Dutchman Holdings, RedeCan Pharm, and Delta 9 Bio-Tech - are lobbying the government prior to the day when legislation legalizing recreational use of the drug is expected to be introduced. Read Weed on wheels: Brockton business will deliver marijuana
3/29/17--In Good Health, a state-licensed nonprofit medical marijuana dispensary in Brockton, will launch a statewide delivery service to bring medical marijuana orders directly to patients’ doors. David Noble, the company’s president and CEO, said the service will be the first of its kind to be offered by a dispensary. Read Las Vegas cannabis lounge options are taking shape
3/28/17--Marijuana consumption lounges in Las Vegas are looking more and more as if they’ll become a reality for cannabis entrepreneurs. During a Clark County marijuana advisory panel meeting, the board discussed proposals for such a concept and how cannabis clubs would be regulated. Nevada is one of a number of states considering laws to allow consumption of marijuana in public places. Read Canadian medical marijuana producer to open online store
3/29/17--Canopy Growth Corp., Canada’s biggest publicly traded medical marijuana producer, plans to launch an online store that will offer patients one-stop shopping for the company’s various brands. The move sheds light on how Canadian cannabis companies could increasingly turn to the internet as a new approach to peddling their products, particularly as the country rolls out its new recreational market. Read Canadian producer invests $3M in Arizona medical marijuana grower
3/28/17--Aphria, a federally licensed Canadian medical marijuana producer, increased its investment in an Arizona medical marijuana grower by $3 million. Aphria now owns 5% of Copperstate Farms LLC through its subsidiary, Aphria (Arizona), and Copperstate Farms Investors controls the remaining 95%. Copperstate owns about 1.7 million square feet of greenhouses in Snowflake, Arizona, and plans to have approximately 348,000 square feet of that space in operation for medical cannabis production by the fall. Read More marijuana sales taxes are coming
3/26/17--Marijuana advisory firm GreenWave Advisors estimates marijuana sales taxes added $1.6 billion to state tax receipts last year, and further estimates indicate that by 2021, marijuana sales taxes could total more than $4 billion. Pro-pot advocates have used state tax revenue from marijuana sales as a major selling point to win support, and so far, their claims of billions of additional dollars in tax revenue appear to be spot on. Read Pacific Northwest marijuana investment network set to launch
3/21/17--The newly launching Cannabis Investment Network (CIN) aims to connect marijuana firms with financial backers. The organization is hoping to serve smaller-scale firms that are looking to raise from $500,000 to $3 million. The self-described “angel group” will function more as a conduit to connect investors with potential investments, instead of raising and deploying capital itself. Read New cannabis advocacy group aims to sway federal government
3/21/17--A group of cannabis companies has banded together under the name of New Federalism Fund (NFF) to form a nonprofit political advocacy group designed to protect the legal marijuana trade. The NFF plans to work with Congress and the Trump administration to achieve its goals. Read Hanford leaders moving forward after Bay Area company drops plans for medical marijuana facility
3/13/17--Oakland's Purple Heart Patient Center recently decided to back out of its plan to start a massive cultivation facility in Hanford, but the city says it's still moving forward with changing their rules to accommodate those types of businesses. Hanford's city manager says, as soon as next week, they could have a proposal that amends the city's ordinance, drafts a tax ballot measure, and details the permitting process. Read