Cannabis Industry & Marijuana Business Briefs

Northern Swan enlists major Democratic pols to boost Latin American cannabis push

Northern Swan, a New York-based marijuana investment group, installed two senior figures from the Democratic party to its advisory board to help navigate the company’s focus on Latin America. Bloomberg reported that the company appointed Tom Daschle, a former U.S Senate majority leader, and Joe Crowley, a prominent party member who last year lost a high-profile primary […]

Read More

Federal bill provision would protect state-legal medical marijuana programs

A provision in one of the congressional spending bills would continue to protect state-legal medical cannabis programs from federal interference. It was included for the first time in the initial FY2020 Commerce-Justice-Science funding bill released by a House subcommittee. In the past, it’s been added as an amendment to the spending bill either in committee […]

Read More

Massachusetts cannabis regulators cautious about approving acquisitions

Massachusetts regulators delayed voting on a proposed medical marijuana acquisition, reflecting the state’s deliberate approach in evaluating ownership-change requests. According to MassLive.com, the caution comes in wake of a report that some businesses may have skirted licensing rules. To read more about the state’s review process, click here.

Read More

Marijuana industry veteran Ean Seeb tapped to lead Colorado’s MJ policy

Colorado Gov. Jared Polis selected cannabis industry veteran Ean Seeb to lead the state’s cannabis policy. Seeb was co-owner of one of Denver’s original cannabis retailers, Denver Relief, before it was sold. He also was co-founder of Denver Relief Consulting and twice served as chair of the National Cannabis Industry Association. Seeb doesn’t have an […]

Read More

Canadian cannabis producer Organigram to list on Nasdaq

Organigram, a New Brunswick-based marijuana producer, will begin trading on the Nasdaq on May 21. The company will join other major Canadian producers listed on senior U.S. exchanges, such as Aurora Cannabis, Canopy Growth, Cronos and Tilray. Organigram will continue to maintain its TSX Ventures Exchange listing but will cease trading on U.S. over-the-counter markets […]

Read More

Marijuana firm Green Growth Brands raises $45.5 million

Ohio-based Green Growth Brands raised $45.5 million through a private placement of convertible debt, the firm announced Friday. Terms of the financing included 15% secured convertible debentures at a price of $1,000 each and a conversion price of 7 Canadian dollars, which will be divided by the Canadian-U.S. exchange rate upon conversion, the company said […]

Read More

Major Oregon cannabis retailer Nectar hit with $4M suit over store purchase

Nectar, a prominent Oregon marijuana company with 18 stores statewide, has been sued for allegedly failing to pay $955,000 for its purchase of Rose City Buds & Flower, a cannabis retailer in the community of Aloha near Portland. The breach-of-contract suit, filed in Multnomah County Circuit Court in Portland, asks for $4 million in damages, […]

Read More

Tax bill that could have boosted California marijuana businesses fails to advance

A proposal to temporarily lower taxes on marijuana products in California likely will not pass the state Legislature this year. The bill was designed to help licensed marijuana retailers compete with the illegal market, but the measure did not make it out of the Assembly Appropriations Committee on Thursday. The bill, proposed by Assemblyman Rob […]

Read More

Delaware lawmakers take another stab at creating recreational cannabis industry

Democratic legislators are again proposing to legalize adult-use marijuana in Delaware, an idea still opposed by Democratic Gov. John Carney. Sponsors introduced a bill they said is aimed at eliminating the illicit market for marijuana by establishing a state-licensed industry that would create jobs while padding state coffers with licensing fees and taxes. A similar […]

Read More

Senate filibuster hobbles Nebraska medical marijuana legalization measure

A bill aimed at legalizing medical marijuana in Nebraska did not move forward in the state Senate after backers reported they couldn’t get enough votes to end a filibuster by opponents. The measure’s sponsor, state Sen. Anna Wishart, said she was “very doubtful that I will get 33 (votes)” and she was looking toward a […]

Read More

Treasury Secretary Mnuchin opposes federal tax breaks for cannabis businesses

Treasury Secretary Steven Mnuchin may be open to a bipartisan solution to marijuana firms’ banking woes, but he doesn’t believe cannabis businesses should have the ability to receive federal “opportunity zone” tax credits. That was the sentiment he expressed during a Senate hearing, according to Bloomberg. Mnuchin told the Senate Appropriations Committee that providing MJ […]

Read More