Sales, Funding & Banking News

AmeriCann Invests $6.7M in Massachusetts MJ Facilities

Omar Sacirbey  | April 14, 2016

AmeriCann, a Denver medical marijuana company, is investing nearly $7 million in a dispensary and a grow facility in two southern coastal Massachusetts towns, according to the Taunton Gazette.

The cultivation technology and real estate company is under contract to purchase a nearly 1 million-square-foot site for a medical marijuana grow and processing facility …

Report: Oregon Rec Sales Could Hit $300M

John Schroyer  | April 12, 2016

Oregon’s fledgling recreational cannabis industry could generate nearly $300 million in sales this year and $46 million in wages, a new study predicts.

The report, compiled by a Portland economist and a cannabis industry consultant, provides a peek at the potential of the state’s rec marijuana market, which launched last October and so far has …

Competition Bringing Down MMJ Prices in New Jersey

John Schroyer  | April 11, 2016

A pair of medical cannabis dispensaries that opened in New Jersey late last year have had a significant impact on the state’s MMJ industry, helping to lower prices and boost choices for patients.

Compassionate Sciences Alternative Treatment Center and Breakwater Treatment and Wellness Center, which both opened last fall, immediately instituted price-slashing measures, the …

CA Marijuana Software Startup Lands $2M Investment

John Schroyer  | April 6, 2016

A marijuana software company that aims to streamline business services for medical marijuana dispensaries and cultivators announced on Tuesday that it has completed a $2.1 million capital raise.

California-based Meadow said it will use the money to hire more employees and continue improving its software, which is currently available to MMJ businesses in its home …

Cannabis Branding Company Raises $8M for National Expansion

John Schroyer  | April 5, 2016

A marijuana branding company with a portfolio that includes partners in three western states announced on Tuesday that it has raised $8 million to support an ambitious expansion plan.

The company, Las Vegas-based Strainz, said in a press release that the influx of capital will allow the company to continue building its portfolio …

Oregon Governor Signs Marijuana Banking Bill

Omar Sacirbey  | April 4, 2016

Oregon Gov. Kate Brown signed a bill Monday afternoon that protects financial institutions working with marijuana businesses from state criminal prosecution.

The new law, however, does not protect financial institutions from federal prosecution, so it isn’t likely to persuade banks and credit unions in Oregon to start servicing marijuana businesses.

While marijuana is legal …

Colorado Banking Regulator Eases Up on Cannabis

John Schroyer  | March 28, 2016

For Colorado banks that do business with marijuana-related clients, life got a little easier last week.

The state’s banking division announced that it will no longer require financial institutions to duplicate Suspicious Activity Reports, or SARS, Colorado if they’ve already been filed with the federal government.

According to a report by the Boulder Daily …

Senators Urge Feds to Issue Clearer MJ Banking Guidelines

Omar Sacirbey  | March 28, 2016

A group of four U.S. Senators are urging federal regulators to come together to issue clearer guidance to financial institutions serving licensed marijuana businesses so they won’t have to operate in cash.

Oregon Sens. Jeff Merkley and Ron Wyden, Washington Sen. Patty Murray, and Colorado Sen. Michael Bennet wrote a letter to the …