High Times Holding, owner of the iconic High Times magazine, said Friday it can’t close on its small-investor Regulation A initial public offering until its audited financials for 2019 are filed. But the Los Angeles-based company, which is trying to make a pivot into retail and brand licensing, took exception to reports that the U.S. […]
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Massachusetts marijuana grow facility workers unionize
Employees at a cannabis cultivation facility in Massachusetts voted to unionize, a further indication that organized labor is picking up steam since the coronavirus pandemic. Workers at Mayflower Medicinals in Holliston Massachusetts, voted to join the United Food & Commercial Workers Union Local 1445, according to the Worcester Business Journal. Mayflower is owned by New […]
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Biden task force takes states-rights approach to cannabis legalization
A joint Joe Biden-Bernie Sanders task force has recommended rescheduling marijuana on a federal basis, legalizing medical marijuana nationwide and allowing states to decide about recreational cannabis. The recommendations have been submitted to the Democratic National Committee’s Platform Committee in advance of next month’s scheduled Democratic National Convention, according to Politico. The proposals come short […]
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Oklahoma medical cannabis regulators won’t rush to enforce new rules
Oklahoma medical marijuana regulators won’t immediately enforce a stricter two-year residency requirement and a 1,000-foot school buffer zone rule that could put many dispensaries out of business in the fast-growing market. The state Attorney General’s Office said it won’t enforce the medical marijuana rules until a lawsuit challenging them plays out in court, The Oklahoman […]
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As Pennsylvania’s medical cannabis sales soar, recreational market prospects brighten
Pennsylvania’s medical cannabis market, praised for its smooth operation, is expected to nearly double to $400 million-$500 million in sales this year and reach $1 billion in sales within three or four years. Buoyed by the market’s success, current licensees have become acquisition targets even in the current tough economic climate – with deal prices […]
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Handful of cannabis-related firms received coronavirus stimulus money
Roughly a half-dozen companies with ties to the cannabis industry received $3.5 million to $8.7 million from the federal government’s Paycheck Protection Program designed to help small businesses keep workers employed during the COVID-19 pandemic. According to Law360, the following ancillary companies received the PPP loans based on a government database made public this week: […]
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Oklahoma now enforcing medical cannabis product testing
Oklahoma medical marijuana regulators are administering laboratory testing after a three-month grace period to ensure enough licensed labs are in place amid the coronavirus pandemic. The mandatory testing requirements apply to all marijuana products sold by a grower or processor. The Oklahoma Medical Marijuana Authority lists 21 licensed labs across the state for a market […]
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Schwazze walks away from two Colorado cannabis deals
Denver-based Schwazze, formerly Medicine Man Technologies, said it has terminated acquisitions of two Colorado marijuana businesses – cultivator Los Sueños Farms and concentrates company Dabble Extracts. Schwazze, a vertically integrated operator, said in an investor news release it moved quickly on the deals and, thus, did limited due diligence after Colorado enacted a law last […]
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Week in Review: US cannabis sales to top $15B, Illinois licensing delays, NJ at forefront of legalization & more
Medical and recreational cannabis sales in the United States are on track to exceed $15 billion this year, a jump of 40% over 2019, according to the new Marijuana Business Factbook.
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Adult-use cannabis legalization in AZ appears headed for November ballot
Based on signatures submitted to the state this week, an industry-backed initiative to legalize a commercial recreational marijuana market in Arizona appears likely to get on the November ballot. The group, Smart and Safe Arizona, submitted 420,000 signatures with the Arizona Secretary of State, according to alt-weekly Phoenix New Times. The signatures still must be […]
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MJBizDaily offers new way for marijuana firms to spread their word
Marijuana businesses now can announce new product releases, staff changes and other company news through a new, paid news release section on MJBizDaily.com. “Our reporters cover industry news, but businesses should have a way to control their own ability to get product and company news to our audiences,” said Pamela Moore, vice president of publishing at […]
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Arkansas adds two medical cannabis growers to fast-growing market
Arkansas medical cannabis regulators voted to issue two additional cultivation licenses in response to some supply concerns in the rapidly growing market. The state now has awarded the maximum eight cultivation licenses allowed under a 2016 ballot initiative that legalized MMJ in Arkansas. But only three growers currently are in operation. The Arkansas Medical Marijuana […]
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