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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 […]
Week in Review: L.A. doubles cannabis retail licenses, another Schwazze deal dead, Biden talks MJ rescheduling & more
July 11th, 2020The Los Angeles City Council doubled the number of social equity retail marijuana licenses from 100 to 200 in response to a courtroom settlement. MJBizDaily takeaway: The greater Los Angeles area boasts more than 13 million people, but there are only 188 licensed cannabis storefronts. The original plan last fall for the social equity licensing round […]
High Times marijuana stock offering delayed until audited financials are filed
July 10th, 2020High Times Holding, owner of the iconic High Times magazine, said Friday it can’t close on its small-investor Regulation A initial public offering until its audited financials for 2019 are filed. But the Los Angeles-based company, which is trying to make a pivot into retail and brand licensing, took exception to reports that the U.S. […]
Israel passes Germany as world’s largest importer of medical cannabis flower
July 10th, 2020Israel overtook Germany as the No. 1 importer of medical cannabis flower in the world so far this year, according to data compiled by Tel Aviv-based Israeli Cannabis Magazine and Marijuana Business Daily. As of July, Israeli imports surpassed 6 metric tons, Oren Lebovitch, editor of Israeli Cannabis Magazine, told MJBizDaily. He gathered the import […]
Massachusetts cannabis businesses fined for pesticide, ownership infractions
July 10th, 2020Three marijuana cultivation companies in Massachusetts will pay hundreds of thousands of dollars in fines for pesticide use and other violations. The state’s Cannabis Control Commission approved penalties against Garden Remedies, Healthy Pharms and The Botanist, MassLive.com reported. Each company agreed to settlements, complied with the commission’s inquiries and admitted to the wrongdoing. The fines […]
Massachusetts marijuana grow facility workers unionize
July 10th, 2020Employees at a cannabis cultivation facility in Massachusetts voted to unionize, a further indication that organized labor is picking up steam since the coronavirus pandemic. Workers at Mayflower Medicinals in Holliston Massachusetts, voted to join the United Food & Commercial Workers Union Local 1445, according to the Worcester Business Journal. Mayflower is owned by New […]
Ohio adds first medical cannabis condition since program launch
July 10th, 2020While rejecting anxiety and autism spectrum disorders, Ohio medical marijuana regulators officially added cachexia to the list of conditions for which doctors in the state can recommend MMJ for treatment. Cachexia, or wasting syndrome, is the first condition added to the MMJ qualifying conditions list by the State Medical Board of Ohio. State lawmakers set […]
Canopy Growth shuns pharmaceutical research
July 9th, 2020There has been no shortage of signs that Canopy Growth Corporation is steering off the course set out for it by co-founders and former co-CEOs Bruce Linton and Mark Zekulin. Perhaps the biggest has been current CEO David Klein’s admission that the company will no longer pursue the development of pharmaceutical-grade cannabis products. Speaking to […]
Researchers find promising link between THC and COVID-19
July 9th, 2020Could cannabinoids be used to help treat COVID-19? Many of the symptoms of the disease caused by SARS-CoV-2 virus result from excessive inflammation following the release of cytokines, including acute respiratory distress syndrome (ARDS), a severe lung injury that leads to significant morbidity and mortality, especially in older people, and the most common cause of […]
California marijuana exec sues MedMen affiliate Captor Capital for fraud, more
July 9th, 2020A longtime Southern California marijuana entrepreneur and executive filed suit against Toronto-based Captor Capital – a former financial partner of MedMen Enterprises – for fraud, breach of contract and other misdeeds and is seeking at least $2.8 million in damages. Matt Longo, a founder of cannabis dispensaries in Santa Ana and West Hollywood that have […]
Biden task force takes states-rights approach to cannabis legalization
July 9th, 2020A joint Joe Biden-Bernie Sanders task force has recommended rescheduling marijuana on a federal basis, legalizing medical marijuana nationwide and allowing states to decide about recreational cannabis. The recommendations have been submitted to the Democratic National Committee’s Platform Committee in advance of next month’s scheduled Democratic National Convention, according to Politico. The proposals come short […]
Marijuana tissue-culture technology company raises more than $15 million
July 9th, 2020Conception Nurseries, a Sacramento, California-based cannabis genetics firm, raised $15 million with the addition of approximately $12 million in a Series A funding round to help add scale and automation to its operation. According to Green Market Report, the funding round was led by New York-based cannabis data group Viridian Capital Advisors with facilitation by […]
L.A.’s 100 extra retail marijuana permits a result of settlement, plaintiff says
July 8th, 2020The Los Angeles City Council’s decision to double the number of social equity retail marijuana licenses was the result of a court room settlement, according to a plaintiff in the lawsuit. Madison Shockley III, an actor turned entrepreneur, told Marijuana Business Daily that L.A.’s permit increase from 100 to 200 for a licensing round that […]