Joey Pena

Multibillion-dollar marijuana industry takes the stage at MJBizConINT’L

There is no end in sight to business opportunities in the multibillion-dollar international cannabis industry, experts said Tuesday as the inaugural MJBizConINT’L kicked off in Toronto. More than 2,000 marijuana entrepreneurs and investors from 31 countries are gathering for the three-day, international-focused conference to explore strategies that include: Tapping into international investment capital. Building a global cannabis […]

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Week in Review: New Ohio processing licenses, CA marijuana black market & Florida judge nixes MMJ business cap

Ohio awards provisional medical marijuana processing licenses, a cannabis consumer survey in California confirms licensed MJ businesses are losing market share to illicit operators, and a Florida judge says a state law restricting the number of MMJ businesses runs afoul of a voter-approved constitutional amendment. Here’s a closer look at some notable developments in the […]

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State legislators to Congress: Let states regulate marijuana without interference

State legislators from across the nation are urging Congress to allow states to regulate cannabis without federal interference, according to lawmakers from Oregon who crafted the decree. The legislators also want Congress to help state-legal marijuana businesses access banking services. In a joint statement, the Oregon state senators said a directive they crafted was approved […]

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Nevada releases revamped design for mandated cannabis edibles symbol

Nevada’s Marijuana Enforcement Division (MED) released a redesigned symbol that edibles producers are required to stamp or mold on every single-serving marijuana edible product by Jan. 1 of next year. It is the second iteration of the symbol. It features the letters THC and an exclamation point inside a triangle. The first – featuring an […]

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Rhode Island starts allowing medical cannabis sales to out-of-state patients

Rhode Island began allowing the state’s three medical marijuana dispensaries to sell cannabis to out-of-state MMJ patients this month. But it’s “far too early” to assess what impact sales to out-of-state-residents will have on Rhode Island’s cannabis supply or retail receipts, Chris Reilly, a spokesman for the Thomas C. Slater Compassion Center in Providence, told Marijuana […]

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As medical marijuana sales surge, Maryland licenses eight more dispensaries

Maryland’s medical cannabis sales are heading toward $100 million in their first year, so in an effort to help keep up with demand, the state approved licenses for eight new MMJ dispensaries this week. That will bring the number of retailers in Maryland to 65 – more than half the 102 retail outlets expected to open, The Baltimore […]

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Michigan to probe potential for medical marijuana licensing bribes

Michigan Gov. Rick Snyder is requesting that state police investigate whether regulators are taking bribes in exchange for medical marijuana licenses. Snyder’s spokeswoman told the Detroit Free Press the governor asked the state police to open an investigation. The move comes after state Democratic Sen. David Knezek of Dearborn Heights raised the issue in a letter […]

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Seattle-based GRN Funds to provide cannabis banking solutions in Florida

It looks as if Florida’s medical marijuana businesses may soon have a new banking option. Seattle-based GRN Funds is planning to provide banking services starting Aug. 16 to the Sunshine State’s medical marijuana treatment centers and ancillary marijuana businesses that successfully complete its application process, the investment bank’s CEO, Justin Costello, told Marijuana Business Daily. […]

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Caribbean nations consider paths to legalizing, regulating marijuana

Acknowledging the economic benefits of legalizing cannabis, Caribbean nations are looking toward reviewing marijuana’s status as an illicit drug and moving toward regulating it instead. Heads of state of the Caribbean Community (CARICOM) “have agreed that action should be taken at the national level to review marijuana’s current status with the view of reclassification,” with each country […]

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‘Waste, money lost’ as California cannabis retailers unload product

Cannabis retailers in California are scrambling to unload product that won’t be compliant with state regulations starting July 1. They were given six months to exhaust their supplies of products made before the new requirements, and the deadline to sell those products is June 30. On July 1, retailers must destroy any that remain. The […]

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