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Australis ends purchase of Colorado CBD firm after lurid charges emerge

February 20th, 2020Australis Capital, a cannabis investment firm based in Las Vegas, terminated its planned acquisition of hemp company Folium Biosciences in the wake of shocking headlines that surfaced regarding the Colorado company it was going to purchase only two months ago. Australis, a spin-off of Canadian marijuana producer Aurora Cannabis, said in a news release it […]

Alberta cannabis cultivators eligible for agriculture grants

February 20th, 2020Cannabis producers and processors in Alberta, Canada, might be able to access a suite of cost-sharing programs through the Canadian Agricultural Partnership (CAP), a joint federal-provincial initiative, if they meet eligibility requirements. Previously, the Ministry of Agriculture and Forestry, which administers CAP in the province, had not taken a position as to whether cannabis farmers were able […]

Multistate operators hog Missouri medical cannabis licenses

February 20th, 2020Missouri granted medical marijuana licenses to some of the largest multistate cannabis operators in the U.S., leading to a flurry of complaints from applicants who were rejected. A Missouri cannabis trade group also won a coveted license, according to an analysis of state records by the St. Louis Post-Dispatch. The influx of multistate operators seeking medical […]

Cannabis Firm Founders Accused of Misappropriating $14M

February 20th, 2020The founders of Canadian licensed producer Green Relief Inc. are accused of misappropriating about $14 million from the company for personal use over the course of six years, the Financial Post reports. The allegations came during a private shareholders’ meeting last month which was recorded and sent to the post. In the video, company executives […]

Budtenders Unionize In Canada

February 20th, 2020Budtenders at Clarity Cannabis have joined the United Food and Commercial Workers union, the first cannabis workers at a private dispensary in Canada to organize. The budtenders at the British Columbia-based dispensary chose to join UFCW 1518 “in an effort to address outstanding concerns, including fair wages, a respectful workplace, safety and security on the […]

West Virginia Removes Flower from Medical Cannabis Bill

February 20th, 2020West Virginia’s Senate Judiciary Committee has advanced a stripped-down version of a medical cannabis reform bill that would have allowed patients to grow their own medicine and possess flower; however, those provisions were removed by the committee, according to CNHI News. In its amended form, the measure would allow program reciprocity for patients, rescind residency […]

Native Roots Dispensaries Switches All Stores to Cova Retail Platform

February 20th, 2020DENVER, CO FEBRUARY 20, 2020 – In a move set to advance store operations and support the company’s aggressive growth, Native Roots, one of the nation’s largest and most successful vertically integrated cannabis operators, has partnered with Cova Software, North America’s leading cannabis retail point of sale (POS) provider. Native Roots has moved all 19 […]

California CBD extraction company sells for $50 million

February 19th, 2020Gibraltar Industries, a diverse manufacturing company based in Buffalo, New York, paid $50 million for the assets of Delta Separation, an ethanol-based extraction company that supplies the CBD industry. Delta Separations, headquartered in Santa Rosa, California, sells directly to hemp, marijuana and biomass processors. The buyers of Delta’s materials produce botanical oil extracts for numerous […]

Grassroots Cannabis inks $19.7 million sale-leaseback deal

February 19th, 2020NewLake Capital Partners is buying and leasing back 10 marijuana retail stores in six states from Chicago-based Grassroots Cannabis in a deal valued at up to $19.7 million. NewLake, which also is headquartered in Chicago, has closed on six of the sale-leaseback deals with Grassroots’ parent company, GR Companies. The company plans to purchase the […]

Investment experts shed light on marijuana prospects in 2020

February 19th, 2020The cannabis investing landscape has changed significantly in the past 12 months. A year ago, the industry saw a record number of deals of record size; now, capital has become a precious commodity. Investment experts shed light on marijuana prospects in 2020 is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for […]

Scatterday appointed CEO of cannabis tech firm Tilt Holdings

February 19th, 2020Tilt Holdings, a Massachusetts-based marijuana company with a focus on technology, on Wednesday installed Mark Scatterday as permanent CEO. He had served as the company’s interim CEO since May 2019. In another move, Tilt announced that Chief Operating Officer Tim Conder also will serve as company president. Scatterday told Marijuana Business Daily last September that, in his interim […]

Cannabis Sales Top $1.75 Billion In Colorado

February 19th, 2020Cannabis sales in Colorado reached $1.75 billion last year, a new record that netted more than $302.4 million in state tax revenue, according to a Westword report. The previous record was $1.55 billion in 2018. The sales represent a 13 percent increase from 2018; sales increased just 2.5 percent year-over-year from 2017 to 2018, according […]