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West Virginia Seeks Financial Institution to Handle Medical Marijuana Money
April 23rd, 2019West Virginia Seeks Financial Institution to Handle Medical Marijuana Money State lawmakers passed a bill earlier this year to allow financial organizations, like credit unions, to bid for the job. CHARLESTON — The state Treasurer’s Office hopes to have a request for proposal (RFP) issued within the next month with the goal of hiring a […]
Canopy Kicks Off Cross-Border Cannabis Consolidation
April 22nd, 2019By Kristine Owram |April 21, 2019, 8:00 AM EDT Cross-border cannabis consolidation has begun. Canopy Growth Corp. announced Thursday that it’s buying Acreage Holdings Inc. in a $3.4 billion deal that keeps it onside with stock-exchange rules while giving it an entry point to the U.S. market the moment federal legalization occurs. The deal is “the most […]
NYSE aims to boot CannTrust after concluding cannabis producer ‘no longer suitable for listing’
March 31st, 2020The New York Stock Exchange’s regulatory enforcement arm has initiated the delisting process for CannTrust after concluding the Canadian cannabis producer “is no longer suitable for listing.” NYSE Regulation said Tuesday it reached its decision after the Ontario-based company obtained a creditor protection order from the Ontario Superior Court of Justice. “The Company has a right to a review […]
L.A. cannabis licensing audit finds flawed process, no corruption
March 31st, 2020The marijuana business licensing round in Los Angeles last September was “confusing and prone to human error,” but city regulators did not bungle the process to the point that applicants were disenfranchised, according to an independent audit. City officials requested the audit last year after an outcry from stakeholders over a flawed rollout. The launch involved a […]
New York adult-use marijuana legalization appears stalled
March 31st, 2020Recreational cannabis legalization in New York likely will be shelved for now because of the coronavirus crisis, but experts expect the legislation to be back in play later this year. New York Gov. Andrew Cuomo said Tuesday the state isn’t likely to legalize rec cannabis as part of its budget bill because it’s “too much, […]
Two Iowa medical cannabis dispensaries close
March 31st, 2020Two medical marijuana dispensaries in Iowa permanently closed their doors. Two Iowa medical cannabis dispensaries close is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Recreational cannabis sales in three key markets still falling after initial coronavirus-related spike
March 31st, 2020Despite a couple of temporary sales spikes in recent weeks, adult-use cannabis sales in California, Colorado and Washington state are all suffering from the economic fallout surrounding the coronavirus pandemic. According to point-of-sale data provided by Seattle-based Headset, adult-use cannabis sales were less than those for the same day in 2019 for six consecutive days […]
Create a winning plan to market and brand your cannabis business
March 29th, 2020(This is an abridged version of a story that appears in the March issue of Marijuana Business Magazine.) Branding is a key component to any winning business strategy. Of course, it also might be one of the most difficult strategies to get right – and if implemented the wrong way, branding can prove to be a costly […]
Week in Review: Recreational marijuana sales tumble, cannabis stores open during pandemic, Harvest-Verano deal dead & more
March 28th, 2020COVID-19 causes cannabis sales to ebb, flow Only a few days after adult-use marijuana sales soared amid the coronavirus scare, they took a nosedive. MJBizDaily takeaway: The roller-coaster ride in marijuana sales was to be expected. Initially, consumers, panicked by the pandemic, stockpiled products. The sudden drop might mark a natural decline after consumers stocked up before […]
Marijuana packaging firm KushCo lays off 49, blames COVID-19
March 26th, 2020KushCo Holdings, a cannabis company specializing in ancillary products such as packaging, on Thursday said it laid off 49 employees this month as the California company’s CEO noted that “the COVID-19 pandemic creates ever-increasing uncertainty in the cannabis industry.” The layoffs will save the company about $4 million, according to a company news release. Since last […]
Canada asks regulated cannabis labs for help in COVID-19 testing
March 26th, 2020Health Canada is working to identify lab capacity across the country to assist with COVID-19 testing, and the agency has reached out to certain federal cannabis license holders for help, Marijuana Business Daily has learned. Canada is currently experiencing a COVID-19 testing backlog. In Ontario alone, 10,965 people have coronavirus test results pending. In a […]
New Zealand cannabis scheme on schedule for April launch despite COVID-19 pandemic
March 26th, 2020The coronavirus pandemic sweeping the globe is not expected to affect the initial launch of New Zealand’s medical cannabis scheme, which is set to take effect April 1, a government official told Marijuana Business Daily. Other jurisdictions – notably Mexico – have pending cannabis industry legislation that faces near-certain delay because of measures taken to combat COVID-19. […]
Coronavirus impact felt in cannabis industry M&A as Harvest Health-Verano deal scuttled
March 26th, 2020The once-booming market for cannabis mergers and acquisitions is now feeling fallout from the COVID-19 pandemic, on top of all the other problems that have brought M&A activity to a virtual halt in the industry. Harvest Health & Recreation’s planned acquisition of privately held Verano Holdings was called off Thursday, with the companies citing “prolonged obstacles” […]
Cannabis labs watchful of supply disruptions during coronavirus crisis as testing demand remains strong
March 26th, 2020Marijuana testing labs report steady business as the COVID-19 outbreak rolls on, though concerns loom over the availability of protective equipment such as gloves and masks and other cleaning supplies. It’s a topic the cannabis industry will keep a careful eye on because, if the coronavirus pandemic eventually causes hiccups in testing, that could slow […]