Latest News

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 […]

Cannabis firm CannTrust reaches agreement to settle shareholder claims

January 20th, 2021Embattled Canadian cannabis producer CannTrust Holdings on Wednesday announced a restructuring support agreement that will pave the way for the company to settle shareholder lawsuits as it restructures. Under the agreement, shareholders’ litigation against CannTrust in both Canada and the United States “will be settled as part of a broader restructuring of the company” under […]

NCIA: High recreational marijuana taxes in New York could hurt legal market

January 20th, 2021A marijuana industry official cautioned New York officials that recreational marijuana taxes need to be low enough to curtail illicit sales. New York Gov. Andrew Cuomo unveiled more details this week about his recreational marijuana legalization plan, which is designed to help offset a coronavirus-fueled, multibillion-dollar budget deficit. “We definitely want to make sure that […]

Valens ‘clears the deck,’ liquidating most cannabis oil inventory

January 20th, 2021Cannabis derivative manufacturer Valens Co. said it is liquidating most of its oil inventory, citing industry trends such as outdoor marijuana harvests and falling prices. Marijuana Business Daily has reported extensively on Canada’s glut of dried cannabis, edibles and extracts. The Toronto-headquartered company cited: An anticipated increase in outdoor cannabis production. Falling dried cannabis prices. […]

Canada’s ‘croptober’ surge pushes cannabis inventory over 1 million kilograms

January 20th, 2021Canadian licensed producers added a record 220,461 kilograms of marijuana to their inventories in October 2020, according to new data offering a statistical glimpse of the country’s first large-scale “croptober” – when most of the fall outdoor harvest comes in. The 220,461 kilograms (221 metric tons) of new cannabis is about 50% more than the […]

An elusive pathogen is damaging cannabis crops – here’s how to fight it

January 20th, 2021Over and over again, I meet cannabis growers who are not yet aware of a widespread disease that has been appearing more and more across the United States – hop latent viroid (HpLVd). An elusive pathogen is damaging cannabis crops – here’s how to fight it is a post from: Marijuana Business Daily: Financial, Legal […]

Massachusetts cannabis retailers sue state over delivery regulations

January 19th, 2021Marijuana retailers in Massachusetts filed a lawsuit against the state’s Cannabis Control Commission’s rules that allow only social equity applicants to deliver cannabis for the program’s first three years. Massachusetts cannabis retailers sue state over delivery regulations is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

California trade group offers marijuana banking services through credit union

January 19th, 2021The California Cannabis Industry Association (CCIA) on Tuesday unveiled a new partnership with North Bay Credit Union under which CCIA-member marijuana companies can obtain an array of financial services. According to a news release, CCIA’s roughly 400 member businesses will “qualify for membership in the credit union and access to banking services such as checking […]

Phytol cited as potentially dangerous cannabis vape ingredient

January 19th, 2021As cannabis vaping pens grew in popularity in late 2019, concerns grew about the safety of the products, spurred by reports of illness, and even deaths, of tobacco vape users. Vape manufacturers rushed to assure regulators and consumers their products were safe, despite having no clear understanding of what ingredients might actually be dangerous. Two […]

Biden health nominees have history of supporting legal marijuana

January 19th, 2021Two of President-elect Joe Biden’s top picks to head the U.S. Department of Health and Human Services have track records of defending and supporting state-legal marijuana programs, positions that could prove positive for the overall MJ industry. Biden on Tuesday said he plans to nominate Pennsylvania Secretary of Health Dr. Rachel Levine as assistant secretary […]

Injectable cannabis overdose drug to be developed by IRISYS

January 19th, 2021Cannabis-related emergency department visits are thought to have more than tripled between 2011 and 2019, coincident with the legalization of recreational and medical cannabis in many US states. Yet there are no approved drugs to treat overdoses due to cannabis or synthetic cannabinoids like Spice and K2. IRISYS LLC, a contract development and manufacturing organization […]

Canadian cannabis retailers to merge, focus on value-conscious consumers

January 18th, 2021Alcanna Inc. is spinning-off its retail cannabis business and combining it with competing retailer YSS Corp. to create one of the largest networks of recreational marijuana stores in Canada, the companies announced Monday. The deal is the latest in a series of M&A in the cannabis retail space, driven by companies looking to differentiate themselves […]

Arkansas medical marijuana sales hit $175M in 2020, could double this year

January 18th, 2021Medical marijuana sales in Arkansas reached $175 million in 2020, ending the year with a record $1.22 million day. The Marijuana Business Factbook projects that Arkansas MMJ sales will nearly double this year to $300 million-$365 million, boosted by new items such as edibles and vape products. The state recently opened up licensing for processors. The […]