In a historic maneuver that signifies growing support in Washington DC for medical marijuana, a key congressional committee voted Thursday to continue to protect lawful state MMJ programs from federal interference or prosecution. The House Appropriations Committee approved, by a bipartisan voice vote, an amendment by Rep. David Joyce, an Ohio Republican and former prosecutor, […]
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Floodgates poised to open in Colorado with potential new wave of cannabis investors
Colorado is on the verge of opening its marijuana markets to an influx of fresh capital and investors. State lawmakers last week passed a bipartisan bill that would for the first time allow publicly traded companies to invest in or hold a medical or recreational marijuana license in the state, starting next January. The legislation, […]
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What Canada’s top CEOs say about cannabis ‘commoditization’
While a shortage of marijuana is expected to precede any glut by a number of years, the potential for cannabis commoditization is already a consideration for many licensed cultivators in Canada. Greg Engel, CEO of New Brunswick-based Organigram, said commoditization, at least as it relates to cannabis, boils down to two things: Excess supply over […]
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Lawsuit alleges California cannabis tech firm Eaze broke US law with marketing solicitations
One of the biggest facilitators of marijuana deliveries in California faces a possible class-action lawsuit that one Bay Area attorney says could threaten the company’s existence. Farrah Williams, of San Diego, filed suit against San Francisco-based Eaze Solutions on May 2, alleging the delivery business violated federal law by spamming her and other customers with unsolicited text-message […]
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Four state marijuana ballot initiatives likely on tap in 2018, with Oklahoma first up
If 2016 signaled a high-water mark for state ballot initiatives to legalize cannabis, then this year portends a slow, but steady, flow. A medical marijuana measure will go before Oklahoma voters in June, and similar initiatives are poised to make the November ballots in Missouri and Utah. On the recreational side, an adult-use cannabis measure […]
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Four marijuana firms to form multinational company, continuing industry consolidation
Consolidation continued in the cannabis industry Tuesday, with four major marijuana businesses from the United States and Canada merging to launch a multinational company with combined revenue forecast to total more than $200 million next year.
Operating under the name TILT Holdings, the new companies will include the combined operations of Baker Technologies, Sea Hunter, Briteside and Santa Veritas Therapeutics, according to a news release.
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Aurora Cannabis to acquire Canadian rival MedReleaf for CA$3.2B in industry’s biggest deal
Aurora Cannabis has agreed to acquire rival Canadian cannabis producer MedReleaf in a deal valued at $3.2 billion Canadian dollars ($2.5 billion) that would create the largest marijuana company in the world. The transaction, announced Monday, marks the largest deal inked in the cannabis sector to date, giving the combined company a footprint that will […]
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Chart: Putting the $55 billion US retail cannabis market in perspective
With revenue of $5.8 billion-$6.6 billion, sales of legal recreational and medical cannabis in the United States in 2017 topped those of Oreos and organic produce combined. The data – published in the newly released Marijuana Business Factbook – illustrates how quickly the legal U.S. marijuana industry has grown. It now rivals Americans’ collective spending on […]
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How to stake a claim in a multibillion-dollar international cannabis market