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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 […]

Canada Goose director Jodi Butts nominated for cannabis producer Aphria’s board

October 15th, 2019Jodi Butts, an independent board director for Canada Goose clothing company, has been nominated to join one of the country’s top cannabis producers, Leamington, Ontario-based Aphria. Canada Goose director Jodi Butts nominated for cannabis producer Aphria’s board is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Colorado proposes rules to ban additives in cannabis vape products

October 15th, 2019Colorado regulators are finalizing rules to ban certain ingredients from marijuana vaping products, following the lead of other states with legal cannabis programs in the wake of a health crisis that has sickened more than a thousand and killed over two dozen people. At a public hearing Tuesday, Colorado’s Marijuana Enforcement Division discussed the proposed rules […]

Ontario marijuana company Aphria reports another profitable quarter

October 15th, 2019Canadian cannabis producer Aphria said it earned 16.4 million Canadian dollars ($12.1 million) in net income in its latest quarter, a 28% decrease from a CA$21.2 million net income the Ontario company recorded in the same quarter last year. It was Aphria’s second consecutive profitable quarter, and the results sent the company’s stock up sharply. […]

Aphria’s latest results highlight positive outlook for marijuana industry

October 15th, 2019Recent skepticism of the cannabis sector may be overblown, especially for companies that are fully funded – as highlighted by Aphria’s latest quarterly results. Aphria’s latest results highlight positive outlook for marijuana industry is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Voluntary recall of cannabis products at 144 Colorado dispensaries

October 15th, 2019Denver-based Bonsai Cultivation voluntarily recalled marijuana plant-material products from across Colorado after Denver health officials detected elevated levels of mold and yeast in the company’s goods. The recall applies to marijuana plant materials, including pre-rolls, distributed to 144 retail stores across the state, according to the Denver Department of Public Health and Environment (DDPHE). In addition to […]

CannTrust to Destroy $65M of Cannabis Inventory

October 15th, 2019CannTrust Holdings Inc. is set to destroy about $65 million worth of inventory and $12 million worth of biological assets that were not authorized by the company’s Health Canada cannabis cultivation license. The assets’ destruction is part of the firm’s remediation plan and necessary in order for the company to get its license back. Health […]

Report: Colorado’s Ebbu Allegedly Violated State Investment Laws

October 15th, 2019Ebbu, a Colorado-based cannabinoid technology company, is alleged to have misled investors and violated Colorado cannabis investment rules, according to a WeedWeek report based on leaked emails and internal company documents. Under Colorado‘s adult-use cannabis rules, investors in licensed cannabis companies are supposed to undergo background checks by the state, including fingerprinting and financial disclosures. […]

Denver’s Bonsai Cultivation Issues Flower Product Recall

October 15th, 2019Denver cannabis company Bonsai Cultivation has issued a recall of its flower, shake, trim, and pre-roll products due to excessively high yeast and mold counts, Denverite reports. The Denver Department of Public Health & Environment says stores and consumers should throw the products away. “DDPHE opened an investigation after identifying multiple samples of marijuana plant […]

California Gives $3M to UC San Diego for CBD Research

October 15th, 2019California is giving the University of California, San Diego $3 million to study CBD, the San Diego Union-Tribune reports. The funds will be split between five research projects aimed at exploring the efficacy of CBD to treat psychosis, rheumatoid arthritis, insomnia, alcohol dependence, and anorexia nervosa. The studies are being conducted by UCSD’s Center for […]

CannTrust to destroy CA$77 million in cannabis plants, inventory

October 14th, 2019Embattled CannTrust Holdings on Monday disclosed it plans to destroy 77 million Canadian dollars ($58.2 million) worth of cannabis plants and inventory as part of the Ontario company’s efforts to regain its suspended business licenses. The company said in a news release its board “has determined that it is necessary to destroy approximately CA$12 million of […]

FBI probing potential public corruption in California capital’s marijuana industry

October 14th, 2019The FBI is investigating suspected corruption involving Sacramento, California, cannabis businesses and public officials. The FBI interviewed marijuana industry officials in California’s capital city over the past few months about potential bribes made in exchange for license approvals and other favorable treatment, The Sacramento Bee reported Monday. The report about the probe comes a day […]

On-site consumption at Anchorage, Alaska, cannabis retailers in voters’ hands

October 14th, 2019Voters in Anchorage, Alaska, will decide April 7 whether to allow cannabis smoking in retail locations throughout the city. On-site consumption at Anchorage, Alaska, cannabis retailers in voters’ hands is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs