A change to South Africa’s medicines law means the country is the first in Africa to carve out a federally approved market for non-prescription CBD. Health Minister Aaron Motsoaledi amended the country’s Medicines and Related Substances Act, 1965, to remove certain cannabidiol preparations for nonserious health claims on the recommendation of South Africa’s Health Products Authority […]
South Africa approves continent’s first federal cannabidiol law is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
New Jersey legislators advance a medical marijuana program expansion, state banking associations get behind federal banking reform, Canada’s cannabis shortage has international implications – plus other important news from around the industry. New Jersey MMJ expansion on track The Garden State’s legislature is moving toward approving a major expansion of its medical cannabis program, which to […]
Week in Review: MMJ expansion moves forward in NJ, cannabis banking, Canada shortages toll & more is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Michigan House legislators adopted a resolution that asks the U.S. Congress to make laws providing protection to banks that take medical cannabis businesses as customers. The resolution urges Congress to pass the Secure and Fair Enforcement Bank Act (SAFE Act) and notes that “because of the federal prohibition, there is an extreme risk to provide financial […]
MI House supports federal act to protect banks doing business with marijuana firms is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
The New Jersey Assembly on Thursday voted 65-5, with six abstentions, to expand the state’s medical marijuana program, a measure that could significantly boost sales in what has become a fast-growing market. The measure paves the way for the state to issue additional business licenses, cannabis home delivery and a more-liberal MMJ recommendation process. MMJ […]
New Jersey Assembly approves medical cannabis expansion is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
MedMen, a multistate cannabis company based in California, said it closed on an initial $80 million tranche of funding from New York private equity group Gotham Green Partners (GGP). The money is the first part of a $250 million convertible credit facility with GGP that MedMen secured in March. More details on the funding can […]
Marijuana firm MedMen closes initial $80 million in funding from Gotham Green is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
TerrAscend, a Toronto-based vertically integrated marijuana company, reported revenues of 14.6 million Canadian dollars ($10.95 million) for the quarter ended March 31, 2019, with a net loss of CA$11.2 million. The company did not report revenues for the comparable quarter in 2018. Its net loss for that period was CA$2.35 million. During the quarter, TerrAscend […]
TerrAscend reports quarterly net loss on cannabis revenues of CA$14.6 million is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Maine cannabis enthusiasts used a public hearing on Thursday to implore regulators to protect the small businesses and growers they think should make up the backbone of the state’s budding marijuana industry. The Maine Office of Marijuana Policy held the public hearing about the state’s draft recreational marijuana rules, which are nearing approval after years […]
Maine regulators urged to put small recreational marijuana businesses first is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Texas lawmakers passed a bill that would increase the number of qualifying patient conditions for medical marijuana, a development that likely could boost dispensary sales in the state’s limited MMJ program. The Texas Senate passed HB 3703 on Wednesday after it previously advanced through the State House. The measure now goes to the desk of […]
Texas lawmakers OK new conditions for medical cannabis use is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Lawmakers and regulators across the United States increasingly are requiring marijuana firms to accept “labor peace agreements” that can lead to unionization. Consider the following: In New York state, medical marijuana business licensees must sign a labor peace agreement with a union. The same is true in California for cannabis licensees with at least 20 […]
What are the business implications of labor peace agreements for the cannabis industry? is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Salaries and benefits are tools to recruit top talent that will facilitate your company’s success, as well as barometers of your company’s health and culture. Marijuana Business Magazine spoke with executives from four cannabis companies that have made top-places-to-work lists and asked them about salaries and recruitment. Here’s what they said: Eunice Kim Title: Vice […]
Marijuana executives offer strategies and insights on salaries and recruitment is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
The cannabis cultivation and retail sector has become increasingly crowded and competitive, but successful operators can still make themselves attractive acquisition targets.
Weekly Deal Watch: Cultivation and retail continues to dominate M&A cannabis activity is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
While CEOs in all industries are typically among a company’s top earners, salaries for cannabis CEOs trend higher than those in mainstream industries, including agriculture.
Exclusive: How cannabis industry CEO salaries compare with mainstream counterparts is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
A shortfall of cannabis in Canada’s regulated market took a toll on the international sales of an industry leader, Aurora Cannabis, according to the company. The Alberta firm’s international medical cannabis sales rose nearly 40% to 4 million Canadian dollars ($3 million) in the third quarter, up from CA$2.9 million. “While we continue to expand […]
Canadian marijuana shortage dampens Aurora’s international sales is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Inconsistent regulations for medical cannabis across Europe create an uneven playing field that makes doing business and accessing medicine cumbersome, according to Danish Health Minister Ellen Trane Nørby.
Denmark health minister: Clarity needed for European cannabis producers is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
The California Senate voted almost unanimously to pass a bill that would allow banks and credit unions to accept cash deposits from cannabis retailers. The 35-1 vote would allow banks to issue special checks to the retailers that could be used for certain purposes, including paying taxes or California-based vendors. State lawmakers also say such […]
CA Senate votes to allow banks, credit unions to accept marijuana retailer deposits is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Cannabis pays. From trimmers, stock clerks and budtenders to master growers, chief extractors and C-suite executives, all are more likely to make at least as much or more money than comparable positions in mainstream industries such as consumer goods, alcohol and agriculture. That’s what Marijuana Business Magazine number crunchers—led by research and data analyst Maggie […]
The total (compensation) package is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
As corporate cultivation operations in California continue to expand, small cannabis growers in the Golden State are banding together to develop cooperatives in an attempt to gain a competitive edge against their large-scale rivals. Co-ops present pros and cons for smaller marijuana growers. But those who are making the move point to these factors: By […]
Smaller California marijuana farmers form co-ops to save on costs, compete with large growers is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Marijuana Business Magazine’s Salary Snapshot continues today, with stories about: Trends in the current labor market. Offering stock options as a hiring bonus. Compensation disparities by region. Visit the Salary Snapshot landing page to read these and other stories in the three-day package.
How does your cannabis company’s pay stack up? is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Marijuana Business Magazine's salary data reveals regional trends that were echoed by cannabis industry observers. Perhaps the most significant: East Coast cannabis companies in search of candidates with marijuana industry experience are pulling employees away from West Coast rivals by offering better pay and perks.
Regional and state compensation differences is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
To win over job candidates, cannabis companies are increasingly offering incentives in addition to compensation, the most common of which are stock options. In many other industries, especially new ones—think internet firms of the late 1990s—companies have offered stock options to employees. New companies, which might not be able to wrest a candidate from a […]
Stock option salary sweetener is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
U.S. state bankers associations jointly sent a letter to leaders of a key Senate panel saying they support cannabis banking reform and urging the committee to hold a hearing on the merits of such legislation. “We believe federal action is necessary and support a solution that would allow banks to serve cannabis-related businesses in states […]
State bankers associations urge US Senate to consider marijuana banking reform is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Two conservative politicians in Ontario, one representing a federal riding (electoral district) and the other provincial, have joined a British Columbia company engaged in the ancillary cannabis market.
Active conservative politicians join Canadian cannabis company is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Missouri regulators shot down a protest by Florida-based BioTrackTHC over the Show-Me State’s medical marijuana seed-to-sale contract. BioTrackTHC said the state shouldn’t have awarded the traceability contract to competitor Franwell, the Florida-based maker of Metrc, because it could contain hidden costs for cannabis license holders, the St. Louis Post-Dispatch reported. However, the state said the […]
Missouri denies medical cannabis traceability contract challenge by BioTrackTHC is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
48North, a vertically integrated marijuana producer based in Ontario, reported revenue of 689,203 Canadian dollars ($516,902) for the fiscal third quarter ended Mar. 31, 2019.
Marijuana firm 48North reports positive revenue, net losses is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
A Minnesota appellate court refused to dismiss interstate cannabis smuggling charges against two former Vireo Health executives, allowing the case to proceed to trial. Marijuana businesses have closely watched the situation because of its implications for MJ firms with affiliates in more than one state, the Rockland/Westchester Journal News noted. In this case, two Vireo Health officials […]
Smuggling case involving ex-execs at marijuana firm Vireo will proceed, court says is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Australis Capital, the Las Vegas-based investment group that spun off of Canadian giant Aurora Cannabis, said it will acquire certain brands and cultivation assets of Nevada's Green Therapeutics for approximately $8 million.
Australis Capital to acquire Green Therapeutics brands, cannabis assets in NV for $8M is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Makers of marijuana-infused products can set competitive prices for their edibles, beverages, tinctures, topicals, capsules or sublinguals by looking at the average price per milligram of THC in those products in various markets. Data that shows the average price per milligram of THC can provide some insight into what consumers are willing to pay for […]
Chart: Comparing the price per milligram of THC in cannabis-infused products is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Payroll is the biggest expense for most companies, and controlling it is paramount to any cost-conscious business. But paying competitive salaries is critical to attracting talented executives a company must have if it wants to grow – from managers and high-skill specialists to budtenders and trimmers. If your employees leave because your competitors are offering […]
Staying competitive with cannabis compensation is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Payroll is the biggest expense for most companies. But how does your company’s salary schedule compare to others in your state and the cannabis industry as a whole? According to data analysis by the staff of Marijuana Business Magazine, lower-skilled, lower-paid marijuana jobs pay slightly more than mainstream equivalents, including budtenders, trimmers, dispensary managers, edibles […]
Comparing cannabis salaries to mainstream industries is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
New Jersey lawmakers advanced a bill out of two committees Monday that would expand the state’s medical cannabis program. The measure includes a provision to transfer the program’s oversight from the state Department of Health to a dedicated regulatory commission, according to NJ.com. It also would expand the number of companies providing medical marijuana. The […]
New Jersey medical marijuana expansion bill gains traction is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
