Briefs

California initiates insurance program for marijuana businesses

California rolled out an insurance program for licensed cannabis companies that’s designed to deliver much-needed coverage to many marijuana businesses that have had a hard time obtaining it. The program, called the Cannabis Business Owners Policy (CannaBOP), is an avenue for MJ companies to obtain property and liability coverage, according to a news release. CannaBOP, introduced Monday, […]

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Ohio awards 56 medical marijuana licenses; program to launch later this year

In a key step toward launching later this year what is expected to be a lucrative sector for the medical marijuana industry, Ohio regulators issued 56 dispensary licenses. Regulators received 376 dispensary applications and were allowed by law to hand out a total of 60 licenses. But the state didn’t receive applications for two of the districts. […]

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Colorado gov nixes pioneering cannabis tasting room bill

Colorado Gov. John Hickenlooper vetoed legislation Monday that would have pioneered the concept of cannabis tasting rooms, dealing a blow to marijuana businesses that had pushed the measure. Similar efforts also have stalled in other states to allow marijuana retailers to set aside areas for consumers to try out products, much like a brewery taproom. In […]

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NCIA board reshuffling continues; 1 more marijuana exec quits, others elected

One board member of the National Cannabis Industry Association has resigned abruptly, and the embattled organization filled nine board seats in its annual election. Shannon Fender, director of public affairs for Denver-based cannabis retail chain Native Roots, resigned her seat on the board of NCIA on May 3. Fender was just 10 months into her […]

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Illinois lawmakers OK use of medical cannabis as alternative to opioids

Legislation passed last week in Illinois would allow potentially thousands of patients to receive medical marijuana as an alternative to highly addictive opioids, a move that could provide a notable boost to MMJ sales. The state’s governor must still sign off on the legislation before it can become law. But the approval by the Illinois […]

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Ancillary cannabis firms Helix TCS and BioTrackTHC close merger

A deal announced in March to merge two of the bigger ancillary cannabis companies in the United States closed Friday, with Colorado-based Helix TCS acquiring Florida-based BioTrackTHC. Though terms of the deal were not disclosed, BioTrack shareholders will own 48% of Helix TCS, according to financial documents filed with the Securities and Exchange Commission in […]

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Marijuana REIT to invest $18.5M in Massachusetts cultivation facility

Innovative Industrial Properties, a San Diego real estate investment trust (REIT) serving the medical marijuana industry, is spending $18.5 million to acquire and lease out a property near Boston that will be used as an MMJ cultivation and processing facility. Innovative Industrial Properties, which trades on the New York Stock Exchange as IIPR, bought the […]

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Cannabis, hemp and CBD company mCig expands into California marijuana market

Jacksonville, Florida-based mCig announced it’s getting into the California marijuana market, with the acquisition of a 2.5-acre property in California City, north of Los Angeles. The diversified cannabis company will set up a 30,000-square-foot indoor marijuana cultivation operation, with the option to expand it to 50,000 square feet, according to a news release. Also, mCig […]

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Ancillary marijuana firm Kush Bottles to open Las Vegas distribution facility

Kush Bottles, a marijuana products distributor, is opening a distribution facility in Las Vegas to serve cannabis companies and consumers in the state’s booming recreational and medical markets. Tourism and organic growth in the Las Vegas market means some MJ businesses have difficulty predicting packaging and supply needs, the California company’s CEO, Nick Kovacevich, said in […]

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Oregon to suspend processing of new recreational cannabis licenses

In response to Oregon’s oversupplied recreational marijuana market and a backlog of applications, state regulators will temporarily discontinue processing new adult-use licenses effective June 15. Marijuana businesses in Oregon have experienced plummeting wholesale cannabis prices – they’ve dropped as low as $50 a pound for flower – and the move to keep new businesses from […]

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