Canadian marijuana firm TerrAscend announced it will acquire California-based The Apothecarium in a deal worth more than $118 million (157 million Canadian dollars). In a news release, the Toronto-based company said the deal’s terms included $73.7 million in cash plus another $44.7 million worth of stock. In return, TerrAscend will receive: Three retail shops in […]
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Aurora to build Alberta marijuana production facility with eye on exports
One of Canada’s top licensed producers unveiled plans for its largest cultivation facility, with a “significant proportion” of the new production slated to address a “massive” supply shortfall for medical cannabis overseas. Aurora Cannabis plans to build the 1.2-million-square-foot facility in Medicine Hat, Alberta, to take advantage of the “sunniest city in Canada” and save […]
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Rapper Snoop Dogg’s marijuana-related venture firm raises $45 million
The venture capital firm founded by rapper Snoop Dogg to invest in ancillary cannabis companies has closed its inaugural fund after securing $45 million from investors, making it one of the larger raises in the marijuana industry. Casa Verde Capital, based in West Hollywood, California, raised most of the money last year, according to TechCrunch.com. The […]
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Aurora Cannabis goes on ambitious buying spree
Cash-rich Aurora Cannabis is steamrolling ahead with its aggressive domestic and international expansion plans, snapping up a leading international greenhouse design company and a late-stage marijuana production applicant in Quebec. Those deals came days after Aurora commenced a hostile takeover attempt of rival producer CanniMed Therapeutics in what could be the largest takeover in the industry […]
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Organigram aims to be recertified as organic MMJ producer
Less than a year after Organigram had its organic certification suspended following a product recall, the Moncton, New Brunswick-based company started the process to be recertified as an organic producer of medical cannabis. Organigram said in a news release it submitted an “action” plan to Ecocert Canada, an organic certification body recognized by the Canadian […]
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Canadian medical marijuana producer to open online store
Canopy Growth Corp., Canada’s biggest publicly traded medical marijuana producer, plans to launch an online store that will offer patients one-stop shopping for the company’s various brands. The move sheds light on how Canadian cannabis companies could increasingly turn to the internet as a new approach to peddling their products, particularly as the country rolls out […]
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New Market: Louisiana’s MMJ program offers limited opportunities but gains momentum
By Bart Schaneman
Although it has one of the oldest medical marijuana laws on the books in the United States, Louisiana took steps just last year to lay the groundwork for a regulated MMJ program and a viable cannabis industry.
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MMJ company CannaKorp raises $5.7 million in 2016
CannaKorp, a Massachusetts company that’s been dubbed the “Keurig for marijuana,” said it raised $4.1 million in its latest round of fundraising to help manufacture and distribute its pod-based medical cannabis vaporizing system. For all of 2016, the company raised $5.7 million. The total includes an initial $1.6 million seed funding earlier that year, CannaKorp said in a news […]
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Oregon received nearly 2K rec marijuana applications last year
The agency that governs Oregon’s recreational marijuana industry was swamped with nearly 2,000 adult-use business license applications in 2016, far above the 800-1,200 it expected. The Oregon Liquor Control Commission (OLCC) received 1,907 total applications last year, the Portland Business Journal reported Monday. Of those applications from retailers, growers and other types of businesses, 762 […]
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Survey: Most Ohio doctors won’t recommend medical marijuana
A majority of doctors in Ohio will be reluctant to recommend medical marijuana for their patients, according to the Medical Marijuana Physician Survey, a situation that could hamper the rollout of the state’s MMJ program. Roughly 30% of the physicians who participated in an Ohio State Medical Board survey said they will not recommend medical marijuana […]
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Large bank working with company aiming to tap Florida MMJ market
One of the biggest financial institutions in the Tampa Bay area has extended a $100,000 line of credit to a company that hopes to capitalize on Florida’s upcoming medical marijuana industry. Regions Bank is providing the credit line to Efftec International Inc., a Las Vegas-based firm that owns a majority stake in Future Farms, the […]
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Chart of the Week: Cannabis Stocks End 2015 With Bumps, Bruises
By Becky Olson Last year was a tumultuous one for cannabis stocks, further deterring institutional investors from getting involved in a notoriously high-risk sector. A sampling of 12 stocks analyzed by Marijuana Business Daily started the year off strong, collectively rising about 27% during the first few weeks of 2015.
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Marijuana companies usher in a new era of collaboration with mainstream players.