Sales, Funding & Banking News

MJ Social Network MassRoots Misses Loan Payments

Omar Sacirbey  | September 27, 2016

MassRoots, the popular social network for cannabis enthusiasts, missed payments to some of its creditors, a notable turn of events for the once high-flying Denver company.

MassRoots disclosed in a Sept. 21 Securities and Exchange Commission filing that it didn’t make $966,000 in required payments to creditors who bought six-month convertible secured promissory notes …

Week in Review: Cannabis Election Map Set, Credit Unions Get Serious, Puerto Rico Fight

John Schroyer  | September 23, 2016

By John Schroyer and Omar Sacirbey

The November cannabis election map is essentially finalized, credit unions get serious about marijuana businesses, and a Denver attorney weighs in on the MJ software battle in Puerto Rico.

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

The Improving MJ Investment Climate: Q&A With Al Foreman, Tuatara’s Chief Investment Officer

Omar Sacirbey  | September 1, 2016

By Omar Sacirbey

Tuatara Capital recently made history when it raised $93 million to wager on marijuana-related businesses, a record sum for a cannabis investment firm.

Tuatara secured the money mainly from deep-pocketed individuals. But a company executive predicts big institutional investors will begin focusing on marijuana businesses in as soon as 12 months.

SoCal Marijuana Grower Raises $6.5M for Cultivation Facility

John Schroyer  | August 31, 2016

Canndescent, a commercial marijuana grower in southern California, announced Wednesday it has closed a $6.5 million funding round to bolster its cultivation facility in Desert Hot Springs.

The raise was completed from more than 30 investors, according to a press release, and will go towards “working capital, marketing, and additional property, plant and equipment.” The …

Week in Review: Growth Potential in New York, Oregon Rec Market Red Hot & MI Stumbles

John Schroyer  | August 26, 2016

By John Schroyer

New York’s health department recommends doubling the size of the state’s medical marijuana industry, Oregon recreational applications flood in as adult-use sales skyrocket, and Michigan’s MJ legal limbo may persist a few more years.

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