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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: US cannabis sales to top $15B, Illinois licensing delays, NJ at forefront of legalization & more

July 3rd, 2020Medical and recreational cannabis sales in the United States are on track to exceed $15 billion this year, a jump of 40% over 2019, according to the new Marijuana Business Factbook. Week in Review: US cannabis sales to top $15B, Illinois licensing delays, NJ at forefront of legalization & more is a post from: Marijuana Business […]

An up-close look at COVID-19’s impact on US marijuana sales

July 2nd, 2020Eli McVey, research analyst for Marijuana Business Daily, presented his research this week on how the COVID-19 pandemic has influenced cannabis sales and the behavior of adult-use and medical cannabis consumers. An up-close look at COVID-19’s impact on US marijuana sales is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis […]

San Francisco advises marijuana businesses to prep for possible attacks

July 2nd, 2020San Francisco cannabis companies were warned this week that expected July Fourth weekend protests could lead to further burglaries, akin to how some criminals targeted marijuana businesses during Black Lives Matter marches in May. In the warning bulletin, the San Francisco Office of Cannabis wrote that “several protests” scheduled for the holiday weekend could create […]

Adult-use cannabis legalization in AZ appears headed for November ballot

July 2nd, 2020Based on signatures submitted to the state this week, an industry-backed initiative to legalize a commercial recreational marijuana market in Arizona appears likely to get on the November ballot. The group, Smart and Safe Arizona, submitted 420,000 signatures with the Arizona Secretary of State, according to alt-weekly Phoenix New Times. The signatures still must be […]

Bermuda weighs cannabis legalization to boost post-pandemic economy

July 2nd, 2020Consultations wrap up this week on Bermuda’s proposal to legalize and regulate adult-use and medical cannabis, which the government says could spur new opportunities in the post-pandemic economic recovery. The bill, released in June, proposes the establishment of a licensing system and regulatory body as well as regulating commercial cultivation and retail sales to people […]

German government may end up buying more medical cannabis than expected, but at a lower price

July 2nd, 2020The German government has clarified the quantities and price of medical cannabis flower it could buy from domestic producers, confirming that growers have the option to sell – and, to a certain extent, the government is obligated to buy – significantly more than the often-cited 2,600 combined kilograms (5,732 pounds) per year. The reply to […]

Cannabis firms should use data, backups to strengthen supply chain

July 1st, 2020Cannabis companies that rely on the international supply chain need to keep a watchful eye on their suppliers and avoid spreading their businesses too thin, industry experts said Wednesday on the third, and final, day of Marijuana Business Daily‘s virtual conference, MJBizConNEXT Direct. The marijuana industry has seen a disruption to the global supply chain […]

MJBizDaily offers new way for marijuana firms to spread their word

July 1st, 2020Marijuana businesses now can announce new product releases, staff changes and other company news through a new, paid news release section on MJBizDaily.com. “Our reporters cover industry news, but businesses should have a way to control their own ability to get product and company news to our audiences,” said Pamela Moore, vice president of publishing at […]

Arkansas adds two medical cannabis growers to fast-growing market

July 1st, 2020Arkansas medical cannabis regulators voted to issue two additional cultivation licenses in response to some supply concerns in the rapidly growing market. The state now has awarded the maximum eight cultivation licenses allowed under a 2016 ballot initiative that legalized MMJ in Arkansas. But only three growers currently are in operation. The Arkansas Medical Marijuana […]

Cresco closes $29M sale-leaseback deal on MA marijuana facility

July 1st, 2020Cresco Labs, a multistate cannabis operator headquartered in Chicago, has entered into its fifth sale-leaseback deal with San Diego-based Innovative Industrial Properties (IIP), this time for a vertically integrated marijuana facility in Massachusetts. According to a news release, the deal is worth $29 million and includes $21 million for tenant improvements. “IIP has proven to […]

Denmark approved only eight of 63 medical cannabis product applications

July 1st, 2020Eight of the 63 applications to admit products to Denmark’s medical cannabis trial scheme have won approval since the program’s inception in 2018, according to a recent disclosure by Health Minister Magnus Heunicke. Heunicke provided the new figures in an answer to a parliamentary query from Member of Parliament Jane Heitmann. Subsequently, however, four of […]

California cannabis market a challenge, but it’s not all doom and gloom

June 30th, 2020Experts agree the California recreational marijuana market is extremely challenging because of high tax rates, huge illicit production and consumption as well as an uncertain economy amid the coronavirus pandemic. But while much of this is unfair to legal marijuana business owners, one also must keep things in perspective: California is a new market with […]