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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 […]
Judge reaffirms that marijuana firm MedMen must pay ex-CFO’s legal fees
January 26th, 2021A California judge again ordered marijuana multistate operator MedMen to pay the company’s former chief financial officer at least $500,000 to cover his legal fees in an ongoing lawsuit over whether the executive was wrongly terminated. According to Law360.com, Judge Mark Young of the Los Angeles County Superior Court issued the order after reaffirming that […]
Massachusetts city drops onerous ‘impact fee’ on cannabis businesses
January 26th, 2021A Massachusetts municipality became the first in the state to stop assessing a controversial 3% “community impact fee” on licensed cannabis businesses. The move, if adopted by other Massachusetts communities, could ease some of the financial burden marijuana businesses face in the state and, in particular, could benefit capital-constrained small businesses and social equity applicants. […]
Arizona’s initial adult-use marijuana licensing leaves some cities underserved
January 26th, 2021Arizona might have opened adult-use marijuana sales last week, but the initial round of retail licenses, whether by design or not, leave some of the state’s most populated cities underserved. At the same time, the distribution of licenses has created a license boon for some smaller cities. The initial 86 adult-use licenses awarded by the […]
Cannabis firm Weedmaps aims for 175% revenue growth via higher ad prices, wider footprint
January 26th, 2021Cannabis advertising giant Weedmaps hopes to boost its revenue over the next three years by a whopping 175% – and investors are wagering the California-based company can deliver on that goal. Since announcing its acquisition of Weedmaps on Dec. 10, Silver Spike Acquisition Corp. has seen its shares more than double, resulting in a Weedmaps […]
Harvest closes $34.6M Florida sale-leaseback deal with marijuana REIT
January 25th, 2021Multistate marijuana operator Harvest Health & Recreation on Monday closed a sale-leaseback transaction, selling a cultivation and processing facility in Alachua, Florida, to Innovative Industrial Properties for $23.8 million. Harvest anticipates approximately $34.6 million in total proceeds from the deal, including $10.8 million in unspecified improvements to be completed by Harvest and reimbursed by California-based […]
France chooses companies to supply free medical cannabis for trial program
January 25th, 2021The French Agency for the Safety of Medicines and Health Products (ANSM) selected the companies that will supply France’s medical cannabis pilot program that’s intended to provide free products to patients enrolled in the trial. Cannabis companies from Australia, Canada, Israel and the United Kingdom – in partnership with French pharmaceutical distributors – will provide […]
Boycott spurs Massachusetts cannabis trade group to withdraw delivery suit
January 25th, 2021A Massachusetts cannabis retail association is backing off its legal challenge to the state’s social equity-focused delivery licensing plan after a swift backlash from many of the group’s members. The Commonwealth Dispensary Association (CDA), which represents dozens of retailers, said it will drop its lawsuit against the state Cannabis Control Commission, which decided late last […]
Analyst warns of closures, consolidation amid Canadian cannabis glut
January 25th, 2021The Canadian cannabis industry should brace for more facility closures, bankruptcies and consolidation amid a worsening oversupply situation, Jefferies analyst Owen Bennett warned this week following a Marijuana Business Daily report drawing attention to the country’s ballooning inventory. In a note to investors, Bennett said the glut would not impact all producers equally. “A large […]
Canadian marijuana retailer High Tide buys US online head shop for $8 million
January 25th, 2021Calgary, Alberta-based marijuana retailer High Tide is spending $8 million to acquire Smoke Cartel, a U.S. e-commerce website that sells cannabis accessories and CBD products. Under terms of the deal, High Tide will pay $2 million in cash and $6 million in High Tide shares for all shares of Georgia-based Smoke Cartel. When the deal […]
Cannabis industry enters 2021 with fresh markets, greater possibilities amid continuing challenges
January 24th, 2021Let’s face it: As terrible as 2020 was for numerous business sectors, it was surprisingly good for the cannabis industry in multiple ways. Cannabis industry enters 2021 with fresh markets, greater possibilities amid continuing challenges is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Recreational marijuana sales kick off in Arizona less than three months after voters pass ballot measure
January 22nd, 2021Arizona approved 73 dispensaries to start selling recreational marijuana on Friday, launching the state’s adult-use cannabis program with sales beginning less than three months after voters approved the new market. Recreational marijuana sales kick off in Arizona less than three months after voters pass ballot measure is a post from: Marijuana Business Daily: Financial, Legal […]
Dutch recreational cannabis experiment advances after court appeal rejected
January 22nd, 2021A Dutch judge rejected on Thursday a request to annul the results of a lottery process used to select cultivators for the country’s recreational cannabis experiment. “This means the experiment will likely continue moving forward as planned,” Kaj Hollemans, a drug policy consultant based in the Netherlands, told Marijuana Business Daily. “It is now at the […]