Briefs

Marijuana ETF alters back-office players after changes, questions over bank’s role

An exchange-traded fund that invests in marijuana companies is changing its custodian, administrator and transfer agent after major changes at the ETF and questions about a bank’s role in the investment vehicle. The $560 million ETFMG Alternative Harvest ETF – which trades under the symbol MJ – previously had U.S. Bancorp perform those duties. The bank […]

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Canadian cannabis firm Captor pays $6M to acquire a fourth California dispensary

Captor Capital, a vertically integrated Canadian marijuana company, acquired Chai Cannabis, a medical and recreational cannabis store in Santa Cruz, California, for roughly $6 million. The acquisition adds a fourth California retail shop to Captor’s investment portfolio, which includes two MedMen-branded dispensaries, according to a news release. Chai also possesses a license permitting cannabis delivery […]

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LA lifts medical marijuana patient caps for doctors to boost market’s viability

Louisiana regulators agreed to eliminate the 100-patient limit for doctors authorized to recommend medical marijuana, a move aimed at removing a potential stumbling block for a market that’s expected to launch late this year. The State Board of Medical Examiners voted 8-1 on Monday to remove the cap established in 2016. By a narrower 5-4 […]

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Feds grant UC San Diego cannabis import license for product from Canada’s Tilray

In a rare move, the U.S. Drug Enforcement Administration approved the importation of marijuana extracts from Canada for a clinical trial, a decision that paves the way for additional research into the potential medical benefits of cannabis. New research into medical marijuana could persuade more U.S. physicians to recommend the drug, which could provide a boost […]

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Oregon medical marijuana operator sentenced seven months for federal tax crimes

A part-owner and operator of two medical marijuana dispensaries in Oregon was sentenced to seven months in prison Monday, marking what a prosecutor called the country’s first federal sentencing of a legal MJ business owner for tax crimes. Matthew Price also was ordered to pay $262,776 in restitution to the Internal Revenue Service during sentencing […]

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Parent firm of marijuana mag High Times raises $5M, extends cutoff for $50M goal

The parent of California-based cannabis culture magazine High Times raised more than $5 million in its effort to go public, but that’s still short of the $17.2 million it needs to be listed on the Nasdaq and far from the $50 million it set out to raise. High Times Holding extended its fundraising deadline by more than a month to allow for more investment.

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MJardin buying Nevada cannabis cultivation facility for $22 million

MJardin has agreed to buy a licensed cannabis cultivation facility in Las Vegas for roughly $22 million in cash and stock, allowing the Denver company to extend its geographic footprint into the Nevada marijuana market. MJardin – which operates cultivation, processing and retail facilities in North America and has an office in Toronto – said […]

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Leafly plans to delist unlicensed marijuana businesses in Canada

Leafly, one of the biggest marijuana retail listing sites in North America, will allow only licensed cannabis companies in Canada to list on its platforms once adult-use MJ becomes legal next month. Canadian regulations permit only licensed retailers and delivery services to advertise on technology platforms, Leafly said in a news release. Beginning Oct. 17, […]

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Cannabis firm Tilray cuts ties with Namaste Technologies following pledge party

A reportedly racy shareholder party hosted by Namaste Technologies has cost the Toronto company its business ties with fast-growing cannabis producer Tilray.

Officials with Tilray confirmed in an email to Marijuana Business Daily that it had “ended its relationship” with Namaste after a highly publicized “pledge party” the firm held for stockholders who promised not to sell company shares for 90 days.

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New Jersey OKs vape cartridges, boosting medical cannabis market potentials

New Jersey’s once heavily restricted medical marijuana market continues to open up: MMJ businesses will now be able to sell vape cartridges filled with concentrates, a move that could boost dispensary sales and open new opportunities for makers of vaporizers and concentrates. The move comes after the state Department of Health waived the previous ban, according […]

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OR county gets grant to battle marijuana growers harvesting more than license limits

An Oregon county’s sheriff’s office will use state grant money to go after legal growers that harvest more than their license allows as well as black market marijuana producers. The nearly $600,000 grant from a new program will pay for three detectives, one crime analyst and a part-time prosecutor in Jackson County, the Mail Tribune […]

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Ohio to strip license from medical cannabis grower

Ohio plans to revoke the license of a medical marijuana cultivator that has made little progress in building its facility in Toledo. The business, OhiGrow, which won a Level 2 small cultivator license, could appeal, according to Columbus Business First. “We found them to be generally nonresponsive,” Mark Hamlin, senior policy advisor at the Ohio Department […]

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