Briefs

Business associates arrested in California over marijuana murder-for-hire plot

Three California cannabis business insiders have been arrested and charged over an alleged plot to kidnap and assassinate a fourth business associate in a cannabis deal gone sour. The defendants – Salam Razuki, Sylvia Gonzales and Elizabeth Juarez – were arrested last month and charged after the three allegedly tried to have an unidentified business colleague […]

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Cannabis firms Cannex Capital, 4Front announce all-stock merger

Cannex Capital Holdings of Vancouver, British Columbia, and 4Front Holdings, an Arizona-based multistate marijuana firm, have announced plans to merge. The all-stock deal – which places an approximate valuation of more than $230 million on 4Front – is subject to shareholder approval and reviews by the Canadian Securities Exchange (CSE). The combined company will trade […]

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Bermuda set to open door to medical cannabis investments

Bermuda plans to allow medical marijuana production and is inviting international companies to partner with local entrepreneurs to participate, according to recent statements by Premier David Burt. The government has tapped one of the biggest medical cannabis companies in the world to help it prepare regulations to guide the new industry. “We’re participating in Bermuda […]

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Credit union proposes ‘limited banking services’ for Ohio medical marijuana companies

An Ohio credit union confirmed Monday it will offer “limited banking services” to the state’s medical cannabis companies. While it’s not clear at this point what “limited banking services” means exactly and what may be offered to marijuana businesses by Wright-Patt Credit Union, the move is a positive one for cannabis companies that hope to […]

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Greece issues first private company licenses to grow medicinal marijuana

Greece awarded its first marijuana grow licenses to two privately owned companies, opening cultivation and ancillary opportunities to international and domestic medical cannabis companies. Already, companies are lining up to pump more than 1 billion euros ($1.1 billion) into the country’s burgeoning MMJ sector to tap future European demand for the product. Bioprocann S.A. – one […]

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New Jersey lawmakers unveil legislation proposing legalizing adult-use cannabis

New Jersey lawmakers released their latest proposal to legalize recreational marijuana in the state. A joint Democrat-led Assembly and Senate committee is expected to discuss the package of measures on Nov. 26. It’s the latest draft in a long-running effort to legalize recreational cannabis in New Jersey, where the effort has stalled, despite support from […]

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Cannabis applications in Malta await guidelines from government

While the cannabis industry is getting broad support from the government of Malta, the business application process still awaits guidelines from a key government agency. Several companies have obtained letters of intent (LOI) from Malta Enterprise – the first step in applying for permits – but no company has yet been fully licensed to cultivate […]

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Massachusetts marijuana regulators approve more recreational retail licenses

The first day of adult-use cannabis sales in Massachusetts reportedly went smoothly Tuesday, and regulators continued to approve final retail licenses in an attempt to keep the industry in the state moving forward. Steven Hoffman, chairman of the state’s Cannabis Control Commission, told The Boston Globe he expects more retail, cultivation and manufacturing licenses to […]

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Oregon needs one separate agency to regulate cannabis, report finds

Oregon’s cannabis industry needs to be regulated by one independent agency instead of three separate bodies, according to a report drafted by the Oregon Cannabis Commission. The study concluded that having the marijuana industry regulated by three government agencies creates the potential for conflict and an inconsistent vision, the Salem Statesman Journal reported. Cultivators, in particular, […]

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Marijuana firm MedMen scales back financing, appoints interim CFO

MedMen Enterprises is slashing its latest funding round as the firm’s stock tumbles and the California cannabis company hunts for a new chief financial officer. The multistate cannabis firm revealed Friday that CFO James Parker resigned. The company appointed Jim Miller, vice president of accounting, as interim CFO while the firm searches for a replacement […]

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First recreational cannabis stores open in Massachusetts to big crowds

Despite long lines and the uncertainty that comes with launching adult-use marijuana sales, the owners of the first two stores in Massachusetts permitted to sell recreational cannabis and their customers say sales and shopping experiences have gone smoothly. Cultivate in Leicester and New England Treatment Access (NETA) in Northampton both opened at 8 a.m. ET […]

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California’s Q3 marijuana tax revenues signal ongoing MJ business turbulence

The latest quarterly cannabis tax revenues reported by the state of California reveal that while the legal cannabis market is continuing to grow and stabilize, it’s also underperforming expectations – a trend that became obvious earlier this year. Here are some insights into the reasons: California’s legal marijuana businesses have struggled in the face of […]

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