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Michigan to spend $20 million from cannabis tax revenue on MMJ research

March 12th, 2021Michigan is allocating $20 million of its recreational marijuana tax revenue this year toward cannabis-related medical research. The move to fund research comes after some confusion about marijuana tax disbursements earlier this month, MLive.com reported. A March 4 announcement about the disbursement of marijuana tax revenue from the Michigan Department of Treasury made no mention […]

New marijuana group, including tobacco and alcohol firms, pushes for reform

March 12th, 2021The major stakeholders pushing Congress to enact sweeping federal marijuana reform just got bigger with the formation of a new band of businesses and industry experts who believe legalization is a foregone conclusion and that the real prize will be shaping a nationwide MJ regulatory framework. According to a news release, the Coalition for Cannabis […]

Aurora Cannabis puts mammoth 1.7 million-square-foot greenhouse on the sales block

March 12th, 2021Aurora Cannabis is looking to unload one of the largest and most expensive greenhouses ever built to grow marijuana, but any potential buyer could be on the hook for additional expenditures to get the project across the finish line. The company hasn’t set a price but is instead entertaining offers. Aurora has put 260 million […]

New Rhode Island governor pitches adult-use cannabis legalization plan

March 12th, 2021Rhode Island Gov. Dan McKee wants to legalize adult-use cannabis, proposing a program that would issue 25 retail licenses a year with a market launch in April 2022. McKee, a Democrat who included the proposal as part of his fiscal-year 2022 budget, is following the lead of his predecessor, Gina Raimondo, who also advocated for […]

Marijuana SPAC Silver Spike II prices IPO to raise $250 million

March 11th, 2021Marijuana industry special purpose acquisition company (SPAC) Silver Spike Acquisition Corp. II priced an initial public offering on the Nasdaq exchange to raise $250 million. The company is issuing 25 million units at $10 each. Each unit includes one share and one-quarter of a redeemable warrant that entitles the holder to purchase a share at […]

Hundreds in Arizona spend $25,000 each to enter cannabis license lottery

March 11th, 2021Nearly 400 hopeful cannabis entrepreneurs ponied up $25,000 apiece for a shot at an upcoming business license lottery, which will determine the winners of 13 new permits. According to the Arizona Republic, the state Department of Health Services received 377 competing applications as of the Tuesday deadline for the 13 vertically integrated licenses. The permits […]

Efforts to stall South Dakota medical marijuana program fizzle

March 11th, 2021A voter-approved medical marijuana program likely will be implemented in South Dakota as scheduled after efforts to stymie the program failed. Gov. Kristi Noem and the majority of lawmakers from both chambers wanted to delay legalization and develop regulations, but they couldn’t agree on a compromise measure to do so before the end of the […]

Mexico’s lower house approves landmark cannabis legalization bill

March 11th, 2021Mexico’s Chamber of Deputies approved a bill in general to lay the legal foundation for regulated marijuana and hemp industries, but the pending law still has hurdles to overcome and it could be years before a flourishing industry emerges. Lawmakers in Mexico’s lower house on Thursday voted largely in support of the bill, with 316 […]

British American Tobacco strikes deal with Canada’s Organigram, portending similar tie-ups with US cannabis firms

March 11th, 2021A subsidiary of cigarette maker British American Tobacco and Atlantic Canada-based cannabis producer Organigram signed a 220 million Canadian dollar ($175 million) strategic collaboration with a focus on research and product development. British American Tobacco strikes deal with Canada’s Organigram, portending similar tie-ups with US cannabis firms is a post from: Marijuana Business Daily: Financial, […]

Mississippi lawmakers kill bill to create alternative medical marijuana program

March 10th, 2021The Mississippi House killed a Senate bill that would have created a legislative alternative to the medical marijuana program the state’s voters resoundingly approved in November. Mississippi lawmakers kill bill to create alternative medical marijuana program is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Canada’s Aurora Cannabis files $1 billion shelf prospectus

March 10th, 2021Aurora Cannabis filed a preliminary short-form base shelf prospectus to raise up to $1 billion by issuing securities over a 25-month period. The cash raise will give Aurora “maximum flexibility to pursue strategic initiatives, which may include acquisitions or partnerships pursuant to the company’s previously stated global growth strategy,” Aurora said in a news release […]

Garland’s confirmation as AG could change Feds’ marijuana views

March 10th, 2021President Joe Biden’s pick for U.S. attorney general, Merrick Garland, was confirmed easily by a 70-30 vote in the Senate on Wednesday, a development that was cautiously hailed by two marijuana advocacy groups. Garland’s confirmation as AG could change Feds’ marijuana views is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for […]