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Week in Review: NM nixes adult-use cannabis bill, Aurora posts big loss, Trump seeks money to regulate CBD/hemp & more

February 15th, 2020A New Mexico Senate panel scraps legislation to legalize recreational marijuana, Aurora Cannabis reports a steep loss for its second quarter, President Trump’s 2021 budget proposal seeks additional money for the federal government to regulate hemp and CBD – and more of the week’s top cannabis business news. New Mexico lawmakers scrap adult-use bill […]

MJBizDaily launches annual marijuana industry survey seeking business data

February 14th, 2020Help Marijuana Business Daily help you by participating in the eighth annual survey of cannabis industry executives and investors. The undertaking that will help Colorado-based MJBizDaily provide key market, financial and operational data for businesses and entrepreneurs. Owners, founders and executives with dispensaries/retail stores, commercial cultivation operations, infused product manufacturers and vertically integrated businesses as well as investors funding […]

Nevada cannabis testing lab fined $70,000 for inflating THC levels

February 14th, 2020A Nevada marijuana testing lab inflated THC levels on cannabis products by as much as 10%, according to a settlement agreement approved by state regulators. Certified Ag Labs, which runs a marijuana testing facility in Sparks, was suspended by regulators last November for reporting inaccurate THC results. Marijuana with higher THC levels typically carries a premium […]

Canadian cannabis firm Canopy sees stock soar on revenue growth

February 14th, 2020Canadian marijuana giant Canopy Growth on Friday reported fiscal third-quarter net revenue that soared 62% from the second quarter, jumped 49% from its third quarter in 2019 and drove up its stock by double-digit figures. The Ontario-based company, which has an estimated 22% share of the Canadian recreational marijuana market, reported revenues of 123.8 million Canadian dollars […]

Los Angeles County Expunges 66k Cannabis Convictions

February 14th, 2020Los Angeles County, California is set to expunge 66,000 cannabis-related convictions, the Los Angeles Times reports. The action includes 62,000 felony convictions and 4,000 misdemeanor convictions dating back to 1961. District Attorney Jackie Lacey, who filed the motion to erase the convictions with the County Superior Court, said her office went beyond what the cannabis […]

Aurora Reports Net Loss of $980M

February 14th, 2020Canadian licensed producer Aurora Cannabis reported a net loss of about US$980 million for the fiscal second quarter with net revenues of US$47.7 million, down from US$53.4 million in fiscal quarter one. The company also reported its international medical cannabis revenues fell sharply from about US$3.8 million last quarter to about US$1.5 million this quarter. […]

Former UN drug policy chief joins Thai cannabis company as president

February 14th, 2020A former head of the United Nations body responsible for international drug treaty compliance has been hired as president of Thailand’s leading medical cannabis company, lending a significant voice to the global credibility of the industry, especially in Asia, according to experts. Viroj Sumyai will take the reins of Thai Cannabis Corp., effective immediately. “Over […]

Considering New England’s 2020 Legalization Landscape

February 14th, 2020Four years ago, it seemed like cannabis legalization was a foregone conclusion for New England. Both Maine and Massachusetts legalized adult-use that year, and then in 2018 Vermont became the first state to legalize possession through the legislative process. Given their proximity, many thought that the three remaining states would sooner legalize than lose out […]

Amsterdam Mayor Considers Banning Tourists from Cannabis Shops

February 14th, 2020Amsterdam Mayor Femke Halsema is considering banning tourists from buying cannabis in the city’s coffee shops, according to a Guardian report. In a survey, 34 percent of tourist respondents said they would come back less often if they were not allowed to use cannabis – and that’s precisely what the mayor wants as she seeks […]

Medical cannabis business opportunities could swell in several states this year

February 14th, 2020Several states could expand their medical cannabis programs this year through new laws or regulatory policies, opening the door to additional business licenses, more sales for existing cannabis operators and fresh business for ancillary companies. The business prospects in the eight states listed below might not be as glitzy as new, hundred-million-dollar-plus cannabis markets. But […]

California unions ask state’s Democrats to shut out major cannabis trade group

February 13th, 2020The California Cannabis Industry Association might have a serious political problem in Sacramento. Representatives from three labor unions – the United Food and Commercial Workers Western States Council, two Teamsters locals and the California Labor Federation – sent a letter to state Democrats on Wednesday asking lawmakers to shut the CCIA out of future political […]

Alabama lawmakers to consider medical marijuana bill

February 13th, 2020A Republican state senator introduced a bill to legalize the sale of medical cannabis in Alabama. The legislator, Sen. Tim Melson, also sponsored a medical marijuana bill in 2019. That measure was approved by the Senate but failed in the House, according to AL.com. Despite being a conservative state, Alabama is considered a likely candidate to legalize medical […]