New Jersey lawmakers could vote as soon as Monday on whether to legalize adult-use marijuana, with hundreds of millions of dollars of new cannabis business opportunities at stake in the decision. Marijuana Business Daily projects a legal recreational industry in New Jersey could potentially generate $1.2 billion-$1.5 billion in annual retail sales by 2023. But the outcome […]
Decision day for New Jersey? $1.5 billion recreational cannabis market at stake is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Although the California marijuana industry has hoped for tax relief as it struggles to compete with a thriving illicit market, a tax increase could be on the way. A tax hike would hit cannabis companies’ bottom line and could drive more consumers into the illicit market in search of cheaper marijuana products. But an increase […]
California state marijuana excise tax could go up July 1 is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
A self-governing British Crown dependency in the English Channel updated its licensing regulations for CBD products and the cultivation of cannabis. Guernsey opened the door to medical cannabis and cannabidiol businesses last year by updating its Misuse of Drugs (Bailiwick of Guernsey) Law. Read the related updates for CBD here and here. Celebrated won the […]
Guernsey releases marijuana regulations, licenses first business is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
A legal medical cannabis industry could be in Romania’s future, according to the country’s finance minister. Finance Minister Eugen Teodorovici said the Health Ministry launched a commission to analyze medical marijuana, Romanian television station Digi24 reported. According to the 24-hour news station, Teodorovici said: “I’ve talked to minister Sorina Pintea and found out that this […]
Romania considering legalization of medical cannabis is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Louisiana’s agriculture department and a state-sanctioned medical marijuana grower broke through one of the key regulatory logjams keeping MMJ off pharmaceutical shelves. However, it remains uncertain when sales might begin. Agriculture Commissioner Mike Strain said Friday that regulatory paperwork and background checks were completed that will allow Louisiana State University’s medical marijuana grower to move […]
Louisiana medical cannabis grower OK’d to up production; no start date for sales is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Maine hired Scott Lever, the state’s deputy commissioner of Health Services, to oversee its recreational cannabis program. In his previous position, Lever was in charge of the Maine Center for Disease Control and Prevention, which once oversaw the state medical marijuana program. In 2017, he testified against a recreational marijuana bill before the legislative committee […]
Maine appoints head of adult-use marijuana program is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Canada’s plan to apply a scaled tax to new cannabis products based on THC content could end up costing some patients more money and take a toll on the competitiveness of businesses, experts say. The proposed tax of 1 Canadian cent per milligram of total THC will apply to cannabis edibles, extracts and topicals when […]
Canadian government ‘digs deeper into pockets’ of medical cannabis users with THC tax is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Miami-based Cansortium, a vertically integrated cannabis operator, said it raised just over $56 million in funds ahead of its initial public offering (IPO). The company will use the net proceeds for continued expansion of its medical cannabis operations in Florida, Michigan, Pennsylvania, Texas, Puerto Rico, Canada and Colombia for repayment of debt and for general […]
Cannabis group Cansortium raises $56 million-plus ahead of IPO is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
BlackRock, one of the world’s largest money managers, disclosed in regulatory filings that its funds have an $11 million stake in Curaleaf Holdings, a Massachusetts-based medical cannabis company. While the investment is tiny for BlackRock, which has nearly $6 trillion of assets under management, the stake is one of the first publicly disclosed investments by a […]
BlackRock discloses $11M investment in medical marijuana firm Curaleaf is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
One-click authentications of a website user’s age are not enough to ensure cannabis promotions cannot be accessed by young people, according to Health Canada, and the agency expects regulated parties to take corrective steps “in the coming weeks.” Earlier this month, Canada’s cannabis regulator warned regulated parties of their obligation to comply with the Cannabis […]
Canada clamps down on ‘one-click’ age checks for marijuana promotions is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
MedMen, a California-based multistate marijuana operator, said it will receive an investment of up to $250 million from private equity fund Gotham Green Partners (GGP). The investment – a convertible credit facility – is believed to be the largest to date by a single investor in a publicly traded cannabis company with U.S. operations. The money […]
Cannabis financier Gotham Green Partners to invest up to $250 million in MedMen is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Days ahead of a planned vote in the Legislature that would make New Jersey the 11th state to legalize recreational marijuana, Gov. Phil Murphy said Thursday the measure is short of the votes needed to pass next week. The Democrat spoke during a news conference alongside more than a dozen supporters of the bill, including […]
New Jersey governor: Push to legalize recreational marijuana is short on votes is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Multistate marijuana operator MedMen is suing Miami Beach, Florida, claiming a local regulation – which requires medical cannabis dispensaries be at least 1,200 feet from each other – violates state law. According to the Miami Herald, MedMen is charging the city’s zoning ordinance would limit the number of dispensaries in Miami Beach to seven – which […]
MedMen taking Miami Beach to court over cannabis dispensary regulations is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Only days after Florida’s governor signed a bill allowing medical cannabis dispensaries to sell smokable products, Trulieve, the largest cannabis retailer in the state, began selling them. Trulieve sold the first smokable flower to a medical marijuana patient in Tallahassee on Thursday, the Tallahassee Democrat reported, and the company plans to have smokable products in […]
Florida dispensary conducts first smokable medical marijuana sale is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Many California marijuana business executives welcome the state’s newly mandated track-and-trace system as an opportunity to ensure industry transparency – but they worry the technology’s rollout could prove rocky. Industry officials report widespread confusion about how to operate Metrc, the software the state relies on to power the track-and-trace system. Confusion also swirls around how […]
California cannabis firms struggle to make sense of new track-and-trace system, fanning fears over its expanded rollout is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
An Illinois senate committee voted to advance a bill that would prohibit the Illinois Department of Financial and Professional Regulation from taking any action that would penalize or dissuade banks and credit unions from serving legal marijuana-related businesses. Even if the bill becomes law, Capitol News Illinois noted, financial institutions that do business with marijuana companies […]
Illinois Senate panel passes bill to protect banks serving cannabis businesses is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Vancouver, British Columbia-based Nextleaf Solutions has begun trading on the Canadian Securities Exchange (CSE) under the ticker symbol OILS. The company uses its technology to extract and process cannabinoid distillate, which can be used for premium infused products. Nextleaf said it has completed the construction of an extraction and processing facility in the Vancouver area and […]
Cannabis extraction company Nextleaf begins trading on CSE is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Democratic New York Gov. Andrew Cuomo said Wednesday a bill legalizing adult-use cannabis won’t be included in the state’s budget due April 1, but he predicted state lawmakers could come to an agreement on a measure by June. The comments in an interview with WNYC radio’s Brian Lehrer weren’t a surprise given Cuomo indicated last […]
NY gov drops adult-use marijuana from budget, but bullish on legalization outlook is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Rhode Island lawmakers held their first joint hearing on a proposal to legalize recreational marijuana, but the measure received considerable pushback and prospects look dimmer without some reworking or compromises. The Providence Journal reported the state’s Senate Finance and Judiciary committees lawmakers had several criticisms about the plan unveiled this week, including that it provides too […]
Rhode Island lawmakers raise questions about plan to legalize recreational cannabis is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Licensed medical marijuana growers in Illinois would be able to supply adult-use cannabis for four years after legalization, according to a report commissioned by licensed MMJ businesses. However, the study noted, a significant increase in the number of retail licenses is needed to meet consumer demand. The industry report contradicts a Legislature-commissioned study that predicts Illinois’ […]
Study: IL medical marijuana growers could meet 4 years of recreational MJ demand is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Exports of medical cannabis from Canada soared last year as the country’s biggest licensed cannabis companies continued to establish beachheads in new medical markets overseas. Shipments of dried cannabis tripled to 1,460 kilograms (3,219 pounds) in 2018, compared with 500 kilograms in 2017 and only 44 kilograms in 2016. Exports of medical cannabis oil doubled […]
Canadian medical cannabis exports tripled last year, as race for European market position intensifies is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Through the first two weeks of March, cultivation and retail continued to be the most attractive for capital raises, with the sector raising more than $2.7 billion.
Weekly Deal Watch: Cultivation, retail continue to dominate capital raises is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
(For an analysis of this deal from an investment standpoint, sign up for our new premium subscription service Investor Intelligence.) Massachusetts-based Curaleaf has inked a deal with the CVS pharmacy chain to begin selling hemp products at 800 stores in 10 states. The distribution deal was announced during Curaleaf’s investor and analyst call to discuss its fourth-quarter and […]
Curaleaf signs distribution deal with CVS for hemp products is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Arkansas marijuana entrepreneurs took note as the state Senate passed two bills aimed at restricting medical cannabis’ desirability to children by limiting certain edibles and restricting MMJ advertising. The two bills passed Tuesday codify rules already spelled out by the state’s Alcoholic Beverage Control Division. The measures were sent to the state House for consideration. […]
Arkansas Senate passes medical cannabis bills affecting edibles, advertising is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Nevada cannabis dispensary owners are calling for more training on the state’s mandatory seed-to-sale cannabis tracking software after a state-led audit of marijuana businesses found discrepancies between sales reports and tax returns. According to The Nevada Independent, the Nevada Dispensary Association pointed out the inaccurate entries and “confusion over batching and tagging during program’s rollout” […]
NV audit spurs marijuana dispensary owners to call for traceability software training is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
When President Donald Trump penned hemp legalization into law late last year via the Farm Bill, hemp companies obviously cheered. But marijuana entrepreneurs also took careful note, because that landmark decision could offer fresh business opportunities to diversify into a plant now legal under federal law. A growing number of marijuana businesses – and hemp-only […]
Despite risks, marijuana firms that make or distribute CBD products use e-commerce to build multistate brands is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Toronto-based DionyMed Brands, a multistate cannabis brands operator, said it will acquire the 1.8-acre Los Angeles campus of MM Esperanza 2, also known as MMAC, for $19 million. The campus includes a dispensary, distribution and manufacturing facilities and a customer-fulfillment center. In a news release, DionyMed said the deal improves the company’s brands distribution and […]
Canadian firm DionyMed to acquire L.A. cannabis campus, other assets for $19 million is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Australia’s medical cannabis market could surpass 15,000 patient application approvals by the end of this year, with industry revenues totaling roughly 36 million Australian dollars ($25 million), according to an analyst’s forecast. While both totals may seem low by North American standards, they represent “a decent start” for the country’s emerging medical cannabis industry, said […]
Australian medical marijuana revenues could hit AU$36 million in 2019 is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Vireo Health, a Minnesota-based multistate operating cannabis company, started trading Wednesday on the Canadian Securities Exchange. Vireo has growing, dispensary and processing operations in six states. Vireo is trading under the ticker symbol VREO. More details can be found here.
US marijuana firm Vireo Health launches on Canadian exchange is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
