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Cannabis firm LeafLink raises $40 million to fund expansion

December 10th, 2020Cannabis wholesaling platform LeafLink announced new funding worth $40 million from a Series C investment round. The $40 million funding round was led by Founders Fund, with participation from Thrive Capital, Nosara Capital and Lerer Hippeau. “The $40 million will be used to expand in current markets by bringing on new brands and retailers, as […]

‘Abuse of power’: UK ripped for British Virgin Islands cannabis law delay

December 10th, 2020The United Kingdom’s representative in the British Virgin Islands (BVI) is facing backlash over his apparent refusal to allow the country to establish a regulated medical cannabis industry. The country’s elected representatives in June passed the Cannabis Licensing Act, which will open up the sector for commercial opportunities when it becomes law. However, the governor […]

Detroit expected to issue recreational marijuana permits by summer 2021

December 9th, 2020Regulators in Detroit will finally start accepting applications for recreational marijuana business licenses in January, and the permits are expected to be issued in summer 2021. Detroit expected to issue recreational marijuana permits by summer 2021 is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

US House passes bill to expedite, expand medical cannabis research

December 9th, 2020The U.S. House of Representatives on Wednesday passed a groundbreaking bill to reduce barriers and expand scientific research into medical cannabis, a move that could be critical to convincing Republican lawmakers to support broader marijuana reform. One aspect of the measure would enable researchers to study medical marijuana products sold in state-legal markets to better […]

Canopy Growth shuttering facilities across Canada, abandons outdoor marijuana cultivation

December 9th, 2020Cannabis producer Canopy Growth is shuttering more facilities across Canada amid a fresh round of layoffs in an effort to streamline operations and improve margins, the struggling company announced Wednesday. Canopy Growth shuttering facilities across Canada, abandons outdoor marijuana cultivation is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Canadian cannabis retailer High Tide seeks Nasdaq listing

December 9th, 2020Canadian cannabis retail and accessory company High Tide is applying for a listing on the Nasdaq exchange in the United States, with plans to pursue mergers and acquisitions. Calgary, Alberta-based High Tide says it is Canada’s largest recreational marijuana retailer by revenue, with 67 locations in Alberta, Manitoba, Ontario and Saskatchewan after completing its acquisition […]

Helping the cannabis industry overcome packaging hurdles

December 9th, 2020The cannabis industry is one of the fastest growing markets in the U.S. today, but it is also one of the youngest. Combining a new growing demand with the strict standards of professional packaging is a recipe for crisis in many cases. Over the past 50 years, Thomas Packaging has spent time and energy ensuring […]

Full US House expected to take up medical cannabis research bill

December 8th, 2020The U.S. House of Representatives is poised to vote on a bill this week to accelerate medical cannabis research, a move that could strengthen support for broader reform. The vote, expected as soon as Wednesday, comes on the heels of the House passing a historic measure last week to remove marijuana from the federal Controlled […]

Ontario to license cannabis stores faster as authorizations surpass 300

December 8th, 2020Ontario’s cannabis store regulator is again doubling the number of Retail Store Authorizations (RSA) it is issuing per month. The Alcohol and Gaming Commission of Ontario (AGCO) said it is picking up its pace with the goal of issuing 20 RSAs per week, the agency announced Tuesday. That is up from 10 per week before […]

Maine medical marijuana sales hit $222 million through October

December 8th, 2020Medical marijuana sales in Maine reached $221.8 million from January through October, according to state sales tax data. That makes cannabis the state’s biggest crop, according to the Portland Press Herald, and worth more than other leading farm products such as potatoes, milk, hay and blueberries – even before including the impact of adult-use marijuana […]

Cannabis grow firm seeks to raise $125 million in stock offering

December 8th, 2020GrowGeneration Corp., a cannabis cultivation company that owns a chain of hydroponic garden centers, intends to raise an additional $125 million through a secondary stock offering to fuel expansion, according to a filing with the U.S. Securities and Exchange Commission. Denver-based GrowGeneration on Monday said in a prospectus that it now has 36 stores in […]

Germany’s growing medical cannabis extract market attracts competition

December 8th, 2020Germany’s market for medical cannabis extracts has shown meaningful growth this year, according to the latest reimbursement data available, and the gains have attracted new brands and products. While the number of flower prescriptions covered by statutory health insurance decreased 5% from the first to second quarter of 2020, extracts prescriptions – including both full-spectrum […]