With businesses around the country shuttered and millions of Americans out of work because of the coronavirus pandemic, the U.S. is facing its gravest economic crisis since the Great Depression.
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What’s your opinion on marijuana firms being granted ‘essential’ status?
Marijuana Business Daily would like your opinion on how the COVID-19 crisis might affect future cannabis industry regulatory policies. Cannabis companies hope to use their newly granted status as “essential” businesses to secure a range of reforms, including access to traditional banking services and permanent approval of curbside pickup and home delivery. Marijuana industry executives also hope […]
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High-stakes retail wager: Q&A with marijuana publisher High Times chair, new CEO
High Times Holding Corp. Chair Adam Levin and the company’s new CEO, Peter Horvath, have an audacious plan: Take the iconic cannabis magazine publisher public and transform it into a marijuana retail powerhouse, one that licenses its brand to third-party operators. Time will tell whether they can succeed. Last week, Levin tapped Horvath to become […]
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Montana judge nixes bid by cannabis backers to get digital signatures
A Montana judge denied a request by a group seeking to gather signatures electronically to qualify two recreational marijuana initiatives for the November ballot amid coronavirus restrictions. New Approach Montana had petitioned the court to allow it to gather signatures electronically for a proposal to make the use of recreational marijuana legal and taxable. The […]
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Nevada allows marijuana stores to offer curbside pickup
Nevada Gov. Steve Sisolak is easing coronavirus-related restrictions on some outdoor activities and businesses starting Friday, including cannabis retailers. Sisolak’s office said Wednesday night he would allow starting May 1 retail businesses and marijuana dispensaries to offer curbside pickup, as restaurants have been doing. Other states with legal marijuana sales allow recreational cannabis shops to […]
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Companies, groups, churches push for lower California cannabis taxes
A coalition of marijuana companies, churches and advocacy groups is asking California Gov. Gavin Newsom for a temporary cut in the state’s hefty MJ taxes. The group that includes the California State Conference of the NAACP, Los Angeles Metropolitan Churches and the industry group Southern California Coalition warned in a letter to the governor that […]
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California offers marijuana firms tax-related help to cope with COVID-19 fallout
California’s struggling cannabis industry, beset with high compliance costs and taxation, is in line to benefit from new state guidelines enacted to help businesses survive the global coronavirus pandemic. The assistance – a mix of extensions, relief and deferrals – is a lifeline that can allow many marijuana companies to maintain operations and meet payroll, […]
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MJBizDaily announces furloughs, other steps because of COVID-19
Marijuana Business Daily is temporarily laying off around 30% of its staff and ramping up virtual events in response to the economic and financial fallout caused by the COVID-19 pandemic. The moves are aimed at reducing overall costs amid delayed revenue on the events side of the Denver-based company’s operations and adjusting to near-term uncertainties […]
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Restructuring cannabis firm MedMen taps interim CEO, withdraws guidance
Financially struggling MedMen Enterprises has retained a management advisory firm to help it restructure. The Los Angeles-based company also tapped two executives from the firm, SierraConstellation Partners (SCP), to serve as MedMen’s interim CEO and chief operating officer. The multistate marijuana operator said in a news release it hired SCP on an interim basis to “support the […]
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New Jersey governor deems medical cannabis dispensaries ‘essential’
New Jersey became the latest state to classify medical cannabis dispensaries as “essential” businesses when the governor ordered all residents to stay at home amid the coronavirus pandemic. Gov. Phil Murphy issued the stay-at-home order on Saturday, saying residents could venture out for necessary travel, NJ.com reported. Murphy’s declaration also ordered nonessential retail businesses in […]
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MJBizDaily postpones, cancels three cannabis trade events
Marijuana Business Daily has decided to postpone or cancel three upcoming cannabis industry trade events scheduled for the United States and overseas because of the coronavirus pandemic. Here are the details: MJBizDaily’s Investor Intelligence Symposium, scheduled for next month in New York, has been canceled. Attendees have been notified. In lieu of the cancellation, MJBizDaily will […]
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Nevada cannabis retailer is latest to offer medical-only sales
The Source, with two marijuana locations in Las Vegas, said it is transitioning to medical-only sales for its patients as an additional safety precaution amid the coronavirus pandemic, becoming the latest retailer to do so. The company said in a news release it will temporarily suspend recreational sales “until further notice.” “Together, we can help […]
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The pandemic pivot and how cannabis companies reacted to COVID-19.