Michigan regulators lowered marijuana licensing fees for prospective business owners living in 19 cities where residents were disproportionately impacted by the war on drugs. Under the new social equity program, regulators can slash fees up to 60% for applicants with proposed marijuana establishments in minority, low-income communities, including those in Detroit and Flint, as well […]
Michigan cuts fees for some future cannabis businesses is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
California authorities seized $30 million worth of unlicensed cannabis products since the rollout of the state’s legal market in January 2018, but industry insiders say that’s far short of what’s needed to stamp out the black market. The Bureau of Cannabis Control (BCC) worked with local law enforcement agencies to serve 25 warrants against unlicensed […]
California seized $30 million in illegal marijuana since 2018 is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
When the California Legislature returns from its summer recess in mid-August, it’ll face a monthlong sprint to get to all the bills remaining on its docket, including several that could have a significant impact on marijuana companies. There’s no guarantee that any of those bills – including one that would establish a new banking system […]
California legislative update: Several key cannabis bills still hang in balance is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Canada’s adult-use cannabis sales jumped 14% in May on the back of new store openings in British Columbia and Ontario as well as longer store hours in Quebec – three markets that account for about three-quarters of the country’s consumers. Across the country, sales improved to 85 million Canadian dollars ($65 million) in May, up […]
British Columbia, Quebec lead Canada’s marijuana sales higher in May is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
The Israeli Ministry of Health is introducing a new price control scheme for medical cannabis that does not include a reimbursement mechanism, disappointing industry experts who had hoped the medicine would be added to the country’s “basic health basket.” The new pricing plan is expected to result in bigger monthly bills for frequent consumers, which analysts say […]
Israel throws medical cannabis industry curveball with new price control plan is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
So, you're starting a marijuana business or thinking about changing the name of your established cannabis company. It's not as simple as making a pun playing off marijuana or incorporating words such as “420,” “canna” or “green” into a name.
Naming a cannabis business isn’t as easy as it sounds is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Utah on Friday awarded eight medical marijuana cultivation licenses to a mix of local and out-of-state businesses. That’s two short of the 10 growers allowed under state law, but regulators are hoping to ensure a supply-and-demand balance. “The decision to only award eight licenses was made to avoid an oversupply of product, while still maintaining a […]
Utah selects medical cannabis growers, including out-of-state firms is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Two more MedMen executives have left the California-based company for other cannabis industry jobs: Toronto-based Flower One Holdings announced that Kellen O’Keefe, ex-MedMen senior vice president of business development, joined its team as chief strategy officer. Meanwhile, Acreage Holdings, a New York-based multistate operator, announced it hired MedMen’s former senior vice president of technology, Alfred Miranda, as its […]
Former MedMen executives join high-profile marijuana companies is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
A Louisiana cultivator could soon start selling the state’s first medical marijuana products to retailers. “We’re in the process of bottling the final formulations and we’re waiting to put the labels on the bottles that will describe the contents,” John Davis, a vice president of grower GB Sciences, told Baton Rouge TV station WAFB. “That’s […]
Louisiana grower says medical cannabis rollout a ‘few weeks’ away is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
The Minister of Medical Care of the Netherlands informed the Dutch parliament that exports of medical cannabis flower to Germany will increase this year. In the letter, dated July 12, the Dutch minister explained that the request for an increase came from his German counterpart, who asked for a hike in the annual volume of […]
Netherlands to hike cannabis exports to Germany by 1,000 kilograms per year is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
A licensed California cannabis company sued Santa Cruz County, claiming the governmental body is violating state law by prohibiting deliveries from out-of-county retailers into a swath of unincorporated areas. The East of Eden Cannabis Co. lawsuit filed in Superior Court in Santa Cruz County is the latest development in a thorny legal fight over who […]
Second lawsuit filed over California marijuana delivery rule is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Cannabis banking reform secures a landmark U.S. Senate panel hearing, financial experts contemplate the impact of Arcview and Curaleaf news, the Food and Drug Administration considers cannabis extracts from both marijuana and hemp varieties in response to a jump in over-the-counter CBD sales – and more of the week’s top headlines. Bank on it News was […]
Week in Review: US Senate to consider MJ banking issues, Arcview + Curaleaf’s important cannabis deals & more is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Curaleaf continued its march to become a truly national cannabis company with its $875 million acquisition of Grassroots, one of the largest private multistate operators (MSO) in the United States.
Latest Curaleaf megadeal signals shift in cannabis M&A is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Problems with the software release for the Washington state cannabis traceability system persist, as state regulators on Thursday announced a workaround for marijuana business-to-business transfers. The state’s response comes after a problematic software rollout that cost businesses significant losses was said to be fixed on Wednesday. The Washington State Liquor and Cannabis Board (LCB) issued […]
Washington state offers up cannabis traceability ‘workaround’ in wake of software release problems is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
The most populous – and potentially most profitable – recreational cannabis market in Massachusetts could soon get its first retail store. Massachusetts regulators granted the first provisional license for a rec MJ store in Boston. The preliminary license for Pure Oasis also is the first under a state economic empowerment program, according to The Boston […]
First adult-use marijuana store in Boston could open soon is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Last week wasn't the busiest for completed M&A deals in the cannabis industry, but some notable transactions were concluded - including one involving a well-established multistate operator (MSO) and another a relatively new but fast-emerging player on the scene.
Deal Watch: Big players are behind marijuana M&A deals is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Local and international businesses in the southern Caribbean nation of St. Vincent and the Grenadines scooped up the islands’ first-ever licenses to cultivate commercial medical cannabis, the nation’s marijuana regulator announced. Hundreds more are in the pipeline, demonstrating significant interest in the new industry there and across the Caribbean. Ten companies with board members from […]
First medicinal cannabis licenses awarded in St. Vincent and the Grenadines is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Germany imported almost 2,500 kilograms (roughly 5,500 pounds) of medical cannabis flower for pharmacy dispensing during the first half of 2019. That’s almost as much as the country imported in all of 2018, a sign that the expected growth in the market is coming to fruition. Member of Parliament Kirsten Kappert-Gonther tweeted the fresh data on […]
Imports of medical marijuana into Germany surge in second quarter is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
The acquisition of Oakland, California-based The Arcview Group boasted a relatively small price tag, but the impact to the cannabis industry as a whole might be more substantial than the $7.7 million sum. The deal was structured as a Series A funding but was effectively a takeover by the main investors, Trivergance and Cresco Capital […]
Arcview deal highlights increased institutional involvement in cannabis is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Marijuana Business Daily is kicking off this year’s MJBizCon Week in December with a new event that will showcase a global who’s who in the cannabis industry. The inaugural, daylong Associations Day on Dec. 10 at the Las Vegas Convention Center will feature nonprofits, associations and cannabis industry professionals from throughout the world. “MJBizCon’s Associations Day […]
First-ever Associations Day to launch MJBizCon Week in Las Vegas is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Only a third of the applicants to sell medical marijuana in the Kansas City area will receive licenses from the state this year, reflecting stiff competition as marijuana firms look to enter one of Missouri’s most lucrative markets. Lyndall Fraker, director of Missouri’s new medical marijuana program, told The Kansas City Star that the city’s […]
Kansas City medical cannabis market attracts 73 applicants for 24 licenses is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Oklahoma medical marijuana companies are on the verge of facing new regulations that will increase compliance costs. Expanded costs are expected in a wide range of operations, including: Seed-to-sale tracking and package labeling. Product testing. Waste management. The regulations require MMJ businesses to install inventory tracking systems by late August and devote more resources in […]
Oklahoma medical cannabis businesses prepare for ‘necessary’ rules that will up compliance costs is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
A bipartisan group of U.S. congressional lawmakers introduced a bill Wednesday to accelerate medical cannabis research, a step that could potentially bolster support for federal marijuana reform. “Forty-seven states have legalized some form of cannabis, yet the federal government is still getting in the way of further progress on the potential for research,” said Rep. […]
Bipartisan lawmakers offer federal bill to break medical marijuana research logjam is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Outages of Washington state’s seed-to-sale traceability system prevented hundreds of cannabis producers, processors and retailers from conducting business-to-business transactions over the past four days.
‘Breakdown’ in Washington state traceability system update costs cannabis businesses thousands is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Utah regulators eliminated a proposed residency requirement for the 10 medical marijuana cultivation licenses the state is set to award in late July, which could result in possible out-of-state ownership. The announcement came in a bulletin dated July 15, although the proposed rule change itself was filed June 30, according to documents. A spokesman for […]
Utah drops residency restriction for medical cannabis growers is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Massachusetts-based Curaleaf, a cannabis company with a market cap of about $3.6 billion, on Wednesday agreed to buy privately owned Grassroots for $875 million in stock and cash. Curaleaf said the transaction – $75 million of it is in cash, the rest in stock – “solidifies” its position as the world’s largest marijuana company in terms […]
Curaleaf agrees to acquire marijuana giant Grassroots for $875 million is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
A new audit by California’s Department of Finance found regulators have a long way to go before they have a solid handle on the state’s cannabis industry. The report concluded – despite having established a “structural foundation” for managing the legal marijuana industry – the California Bureau of Cannabis Control (BCC)’s “current status and location […]
California government report finds regulators are unable to fully oversee the state’s marijuana market is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
A key U.S. Senate panel will meet next week to consider steps that could make it easier for marijuana companies to obtain banking services, a move that could pave the way for crucial MJ reform. The July 23 Senate Banking Committee hearing – which took industry officials by surprise – includes Sens. Jeff Merkley, an Oregon Democrat, […]
Cannabis banking reform secures landmark US Senate panel hearing is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Yet another California county raided an enormous cannabis grow, seizing a whopping 9,000 unlicensed plants. This one – which took place in wine country’s famed Sonoma County – is part of an ongoing effort against the illicit market, the San Francisco Chronicle reported. Sonoma County officials have shuttered 863 unlicensed MJ grows in the past […]
California county raids huge illegal marijuana grow is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Dallas-based marijuana investment firm Cresco Capital Partners and another private equity group are taking control of The Arcview Group, an MJ investment company in Oakland, California.
Cannabis firm Arcview gets $7.7 million funding, new ownership is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
