Briefs

Puerto Rico medical marijuana companies now without banking option

Puerto Rico’s medical marijuana companies have lost their only banking solution, forcing them to conduct business in cash. Tu Coop, an in-state credit union, had been providing banking to MMJ firms as part of the cooperative sector, which is regulated by local authorities, according to Caribbean Business. Caribbean Business said Israel Menchaca, executive director of Tu […]

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US Virgin Islands enacts medical cannabis law, opens tourism business avenues

U.S. Virgin Islands Gov. Albert Bryan Jr. has given a new medical marijuana law his stamp of approval, making the territory the latest Caribbean jurisdiction to open its doors to cannabis businesses and potential new tourism opportunities. The move has been years in the making, with voters having favored medical cannabis in a 2014 referendum. In […]

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Arkansas’ medical marijuana cultivation sites are all under construction

All five of Arkansas’ state-approved medical cannabis grower sites are being built out, a development that should come as good news for marijuana businesses that are looking to be part of a fully operational market in the state later this year. The program has been beset by delays since Arkansas voters approved a constitutional amendment […]

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IL medical cannabis firms plan for boom around opioid-alternative initiative

Medical marijuana dispensaries in Illinois are preparing for a healthy boost in business with the launch of a pilot program this month that will offer patients access to MMJ as an alternative to opioids. Dispensaries are extending hours and hiring additional workers for the expected increased demand in medical cannabis once the Opioid Alternative Pilot […]

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Arkansas announces first medical marijuana dispensary licenses

Arkansas issued its first six licenses for businesses to sell medical marijuana in the state, another welcome development for cannabis company owners that have waited for the program to roll out since voters approved it in 2016. Sales aren’t likely to begin until April at the earliest. The Arkansas Department of Finance and Administration (DFA) […]

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ND medical cannabis market inches onward as state hands out first patient cards

North Dakota has begun issuing medical marijuana cards to patients and caregivers, which marks another step forward as the state has spent nearly two years setting up a regulated distribution system for the MMJ market. Voters in the state approved medical cannabis in November 2016. Here are the basics surrounding the situation: North Dakota’s health department […]

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Arizona medical marijuana sales increased 41% in 2018

Medical marijuana sales in Arizona grew by 41% from 2017 to 2018, outpacing the growth of the patient pool by 2-to-1, according to a new report. The state health department reports that medical cannabis patients consumed nearly 122,000 pounds of marijuana in 2018, up from 87,000 pounds in 2017. However, the number of patients increased 20%, […]

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FL gov signals intent to open medical cannabis market to more firms, products

Florida’s new governor announced steps that would open up the state’s lucrative medical marijuana industry to additional businesses and new products. Gov. Ron DeSantis, a Republican, asked the Legislature to: End a ban on smokable medical marijuana products, a move that could boost dispensary sales. Loosen Florida’s restrictive licensing rules to allow more MMJ companies […]

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Oklahoma posts nearly $1M in medical marijuana sales in December

Oklahoma retailers sold nearly $1 million worth of medical cannabis in December, which are strong numbers for a relatively new market with limited product availability and few open dispensaries. Oklahoma voters approved a medical marijuana state question in June, and the industry has taken off quickly. More than 30,000 Oklahoma patients and nearly 900 dispensaries […]

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California legal agency signs off on state’s final cannabis industry rules

The California Office of Administrative Law (OAL) approved final marijuana industry rules that regulators had published in December, paving the way for the state to implement a permanent regulatory framework for the nation’s largest cannabis market. The regulations, approved late Wednesday, take effect immediately, according to news releases from the Bureau of Cannabis Control (BCC), the […]

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MA police find marijuana extract samples outside lab serving most dispensaries

Local police found hundreds of vials with extracted cannabis in a dumpster behind a Massachusetts marijuana testing lab that provides services for almost all the state’s medical cannabis retailers. MCR Labs, headquartered in Framingham about 20 miles west of Boston, was one of the first two labs in Massachusetts approved by the state’s Cannabis Control […]

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Tilray, Authentic Brands Group enter revenue-sharing deal for cannabis products

Tilray, the British Columbia-based cannabis heavyweight, signed a revenue-sharing agreement with Authentic Brands Group (ABG) to market and distribute consumer cannabis products within the New York-based firm’s brand portfolio. Under the terms of the agreement, Tilray will pay $100 million to ABG and up to $250 million in cash and stock upon achieving unspecified milestones. […]

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