Sales, Funding & Banking News

Top New York Banks Have No Plans to Work With MMJ

John Schroyer  | September 18, 2015

New York’s five medical cannabis business license winners will likely have a tough time finding banking services, much like the rest of the industry.

A handful of major banks in the state – including Wells Fargo, PNC Bank, JP Morgan Chase, TD Bank and Key Bank – told Politico that

Week in Review: More Marijuana Licenses in WA, Huge Sales Spike in CO & Supply Issues in NV

John Schroyer  | September 18, 2015

By John Schroyer

Washington State signals it could grant licenses to hundreds of medical marijuana businesses, Colorado cannabis retailers get a huge boost from an MJ tax holiday, and the first Las Vegas dispensary reopens after experiencing inventory issues.

Here’s a closer look at several notable developments in the marijuana industry over the past week.

Canadian MMJ Producer Closes $3M Funding Round

John Schroyer  | September 11, 2015

Canadian firm OrganiGram Holdings announced that it has closed on a $3 million round of financing, which the company will use to bolster its medical cannabis production site in New Brunswick.

Duce Holdings and Denaco Group will provide $1 million in exchange for 200,000 common shares of OrganiGram’s stock, while Farm Credit Canada will provide …

Charlotte’s Web Goes On Sale In the UK

Tony C. Dreibus  | August 14, 2015

CW Botanicals, manufacturers of a CBD oil popular in the United States for treating severe forms of epilepsy, has partnered with a UK company to launch sales of Charlotte’s Web in the United Kingdom.

It became legal to sell the oil in the country last month, and can also be used as a dietary …

Week in Review: Trio of MJ Capital Raises, New CO Edibles Rules + Ohio Legalization Fight Coming

John Schroyer  | August 14, 2015

By John Schroyer

A trio of marijuana-related companies announced significant fundraising milestones, a series of strict new edibles regulations in Colorado could be costly to manufacturers, and Ohio will host the newest state legalization campaign fight this fall.

Here’s a closer look at several notable developments in the marijuana industry over the past week.

Cannabis Real Estate Company Secures $800k in Financing

John Schroyer  | August 13, 2015

An Arizona-based real estate company that specializes in cannabis-related facilities announced Wednesday that it has wrapped up an $800,000 round of funding and is immediately starting a second round.

The firm, Scientific Botanical Leasing, will use the funding for improvements on a facility leased by an Arizona MMJ dispensary that signed a 10-year agreement, as …

Rhode Island Medical Marijuana Sales Rocket 43%

John Schroyer  | August 12, 2015

Medical marijuana sales in Rhode Island jumped a whopping 43% during the fiscal year that ended in June, totaling $9.6 million as the industry hit its stride.

Texas LED Company Lands $16M in Financing

John Schroyer  | August 11, 2015

A Texas-based lighting business that caters in part to cannabis growers has netted $16 million in funding, lifting the company’s total investment haul to $76.8 million since its inception a decade ago.

Illumitex, which produces high-grade light-emitting diodes (also known as LEDs), raised …

California Edibles Company Raises $1.25M for Expansion

John Schroyer  | August 11, 2015

An increasing number of marijuana companies are landing seven-figure financing deals these days as the industry gains legitimacy, and California-based edibles manufacturer Auntie Dolores is now among them.

The company announced Monday that it has closed a $1.25 million round of financing to accelerate its expansion across California and eventually help it expand into new …

Week in Review: Cannabis Bank in CA? + Tight Deadline in NY & Sales Confusion in WA

John Schroyer  | August 7, 2015

By John Schroyer

California officials propose a state-run bank for marijuana companies, New York license winners face a tough deadline, and Washington State’s sales figures spur confusion.

Here’s a closer look at several notable developments in the marijuana industry over the past week.