Florida opts to add four more medical marijuana businesses, New Jersey doubles the number of its vertically integrated MMJ licenses, and cannabis legalization gets some support from Big Alcohol. Here’s a closer look at some notable developments in the cannabis industry over the past week. The Lawsuit State News that the Florida health department will issue four […]
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Profits are a rarity: California’s new regulated marijuana market six months in
Half a year into California’s newly regulated marijuana market, it’s worth asking: How are licensed companies in the state doing financially? The short answer: Many are struggling. Chelsey Miles, a Sacramento-based accountant and consultant who works with licensed manufacturers, retailers and distributors, said most companies are “breaking even, but I don’t think they might be […]
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First seven Michigan medical cannabis licensees now in regulatory limbo
The first seven Michigan companies won business permits just last week, but now they find themselves in regulatory limbo, unable to fully comply with the law and also serve patients. That’s because there aren’t any licensed testing labs yet in all of Michigan, Mlive.com reported. And because state law requires MMJ to be tested for safety […]
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California publishes first draft of permanent marijuana industry rules
The trio of state agencies that oversees California’s marijuana program on Friday published the long-awaited first draft of permanent rules for the state’s multibillion-dollar MJ industry.
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Terra Tech sells Las Vegas retail cannabis shop for $6.2 million
One of the larger publicly traded marijuana companies in the United States announced the sale Thursday of one of its assets, a Nevada cannabis retail storefront, for $6.25 million. Terra Tech sold a 3,900-square-foot shop – located just north of the Las Vegas strip – to Exhale Brands Nevada, according to a news release. The facility […]
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Michigan adds 11 medical marijuana qualifying conditions
Michigan regulators added 11 new ailments to the list of qualifying conditions for medical marijuana, potentially giving a big boost to a market that is already home to one of the largest MMJ patient pools in the country. According to Mlive.com, the new conditions are: Arthritis Autism Chronic pain Colitis Inflammatory bowel disease Obsessive compulsive […]
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California governor appoints members to cannabis business appeals board
California Gov. Jerry Brown has taken another step toward solidifying his state’s cannabis business permitting system with the appointment of three new board members who will oversee appeals from license applicants that have been denied or licensees that have been disciplined by regulators. According to the Los Angeles Times, Brown’s three appointees, all Democrats, were: […]
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Some California marijuana companies hurting from July 1 transition
The changeover to selling only lab-tested cannabis products and those with proper packaging has created hard times for some California retailers in early July, with a lack of compliant marijuana leaving a good number of shelves empty. The owner of All About Wellness in Sacramento told TV station KCRA he’s down about 60%-75% “of what […]
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California state bar considering rule change to protect marijuana lawyers
A proposed rule change in front of the California state bar could provide more protection for attorneys that work with marijuana businesses, but only if that rule gets initial approval on Tuesday.
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Los Angeles to launch long-delayed licensing for marijuana growers
Los Angeles will kick off the process for licensing marijuana cultivators and manufacturers on Aug. 1, but it’s likely to be many months before any of those companies open their doors for business. The announcement Monday was greeted with a mix of anticipation and frustration by growers and other businesses awaiting licenses that have watched […]
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Here’s how California might enforce violations of marijuana business rules
Now that it’s July and new mandated regulations involving packaging and lab testing have kicked in, many licensed companies in California may be wondering what will happen if they’re suddenly faced with a surprise inspection from a state official. “When a product ends up on a shelf that does not comply, whose fault is that? […]
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Arizona dispensaries continue selling marijuana extracts, despite court ruling
Arizona’s medical cannabis businesses will continue selling extracts until a recent court ruling that outlaws concentrates is upheld by the state Supreme Court. That’s according to the Phoenix New Times, which reported that MMJ dispensaries in the state are essentially ignoring a finding by the Arizona Court of Appeals that extracts are illegal. Whether any […]
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