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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 […]
Investor Intelligence to host exclusive webcast on Q2 cannabis investing trends
August 21st, 2019In a special webcast from MJBizDaily’s Investor Intelligence, Viridian Capital Advisors executives Scott Greiper and Harrison Phillips will review Q2 investing trends and the outlook for the marijuana industry for the next 12-18 months. This special live webcast on Aug. 28 at 4:15 p.m. ET/1:15 p.m. PT is exclusively for Investor Intelligence subscribers. Learn more here. Investor Intelligence […]
Cresco Labs reports increased marijuana revenue, net quarter loss
August 21st, 2019Cresco Labs, a multistate cannabis company based in Chicago, on Wednesday reported revenue of $29.9 million for the second quarter, up 253% from the same period a year ago. Net loss for the quarter, ending June 30, was $3.9 million, compared with net income of $1.6 million for the prior-year period. Cresco trades on the Canadian […]
CA high court medical cannabis ruling unlikely to cause major disruption to industry, key attorney says
August 21st, 2019At first blush, it may seem as if the California Supreme Court’s ruling on a medical marijuana case would prove a big deal for the state’s cannabis industry. But that’s not really the case, according to one California cannabis attorney who’s also an expert in state environmental law, on which the ruling is centered. In […]
Weedmaps will stop advertising unlicensed cannabis retailers ‘later this year’
August 21st, 2019Online advertising giant Weedmaps said Wednesday it will begin requiring a state license number for all marijuana retail listings on its site, indicating it will cease carrying ads for unlicensed cannabis shops and delivery services. The move could prove an enormous boon to legal retailers that have been struggling to compete with illegal shops simply […]
Terra Tech selling Nevada cannabis dispensary
August 21st, 2019California-based Terra Tech is selling its Blüm Reno dispensary, which was the subject of a lawsuit earlier this year, for $15 million. In February, Terra Tech agreed to pay $6.3 million to settle a lawsuit that alleged the company siphoned money from the Blüm dispensary for other ventures. Terra Tech is selling the dispensary to Picksy […]
South Dakota Arrests & Charges Hemp Delivery Truck Driver
August 21st, 2019A Minnesota hemp delivery driver has been charged with cannabis possession in South Dakota after being pulled over for speeding while delivering 300 pounds of hemp from a cultivator in Colorado to a processor in Minnesota, the Argus Leader reports. According to the Minnesota Hemp Industry Association, the cargo was valued at $22,500. Association Executive […]
Israel Operations of Tikun Olam Up for Sale
August 21st, 2019Medical cannabis company Tikun Olam is reportedly looking to sell their operations in Israel following a Health Ministry decision to revoke the firm’s license unless founder and controlling shareholder Yitzhak (Tzahi) Cohen cut back on his holdings, the Times of Israel reports. Tikun was the first company to receive a medical cannabis license in Israel […]
Cannabis Researcher Sues Feds Over Research-Grade Cannabis
August 21st, 2019A cannabis researcher at Arizona’s Scottsdale Research Institute is suing the Drug Enforcement Administration over its hurdles to cannabis research access, namely the government-run cannabis farm at the University of Mississippi, according to a CT Post report. Dr. Sue Sisley claims that the cannabis grown at the farm is genetically closer to hemp than what […]
Report Warns States Against Relying on Cannabis Revenue
August 21st, 2019The Pew Charitable Trust has issued a warning to states who have passed adult-use cannabis laws to proceed with caution when budgeting their newfound cannabis tax windfalls. Citing the stark contrast between Nevada’s and California’s first six months of cannabis revenue, where Nevada exceeded projected revenue by 40% and California was 45% below their projections, […]
Linton continues investing in marijuana giant Canopy after dismissal
August 20th, 2019Bruce Linton, the former co-CEO of Canopy Growth who was fired by the Canadian company last month, on Tuesday told CNBC’s “Squawk Box” he has since acquired more shares in the cannabis giant. “It was a right time for them to make the change, and it was the right time to buy the stock,” Linton said […]
MJBizDaily’s Investor Intelligence launches cannabis comp tables
August 20th, 2019This comp table provides a benchmark for private investors to evaluate existing and future investments as well as a menu for public investors to peruse. MJBizDaily’s Investor Intelligence launches cannabis comp tables is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Missouri gets 2,000+ medical marijuana applications
August 20th, 2019Missouri regulators received roughly 2,100 applications for up to 348 medical cannabis licenses. More than 1,200 applications arrived in the past three days, including 800 in the 24 hours leading up to the extended deadline, according to state officials. The deadline was extended from Saturday until 4:30 p.m. CT Monday. Here are the key details about […]