Briefs

Oregon marijuana firm lands $12.5M from Canada’s Tidal Royalty to fund expansion

Oregon-based Diem Cannabis is poised to enter a new market after landing upwards of $12.5 million in financing from Toronto-based Tidal Royalty Corp. The capital will be used over the next three years to develop and operate a large-scale cultivation and processing facility and up to four dispensaries, all in Massachusetts, the firms announced in […]

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MA attorney general reverses ruling that allowed cities to ban medical cannabis firms

Medical marijuana businesses in Massachusetts may have one fewer headache after state Attorney General Maura Healey reversed an earlier decision that allowed municipalities to prohibit MMJ dispensaries. Here are the basics behind the situation: According to CommonWealth magazine, Massachusetts passed a medical marijuana law in 2012 that included a provision prohibiting cities and towns from banning MMJ […]

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Many Oklahoma doctors won’t recommend medical marijuana

Oklahoma’s potential $100 million-$150 million medical marijuana program is facing a new hurdle that could hamper sales: Many doctors won’t be able to tell patients about their MMJ options. At least two health-care systems – Saint Francis Health System and Oklahoma State University Medical Center – have told their doctors not to make medical cannabis […]

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State leaders seek banking solution for cannabis industry

Louisiana’s top banking regulator has joined colleagues in other marijuana-legal states asking the U.S. Congress to clear the way for banks to do business with the marijuana industry. John Ducrest, commissioner of Louisiana’s Office of Financial Institutions, was one of the state financial regulators who signed a letter to congressional leaders last week seeking “safe […]

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California political groups launch website to shoot down statewide marijuana delivery

Three heavy-hitting political organizations in Sacramento, California, announced a new website Friday in a push to convince state regulators to abandon plans to allow marijuana delivery statewide. The cannabis industry largely supports the statewide delivery policy, arguing it’s necessary to guarantee access for homebound medical marijuana patients. It also would boost sales by reaching municipalities […]

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Utah governor seeks medical cannabis program that’s stricter than ballot measure

Utah Gov. Gary Herbert said he wants legislators to take action on medical marijuana and backed a much more restrictive program than the legalization initiative that’s on the state’s November ballot. According to the Deseret News, Herbert told reporters he would vote against the ballot initiative and instead use his “bully pulpit” to push a […]

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New Oregon recreational marijuana applicants must wait a year-plus for approval

New applicants seeking entry into Oregon’s recreational marijuana market are going to have to wait at least a year before getting licenses, according to the state’s cannabis czar. The delays could prove costly for new applicants who’ve already rented facilities in anticipation of getting a business license. Steve Marks, executive director of the Oregon Liquor […]

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California cannabis regulators revoke four business licenses

California marijuana regulators revoked the licenses of four MJ businesses after the municipalities where those companies were located nixed their operations. The four account for only a handful of the 433 California marijuana companies that have seen their temporary business licenses canceled, revoked or expire, according to new information posted online by the state Bureau of […]

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Analyst says Cronos stock swings ‘overdone,’ calls deception allegations ‘unfounded’

Shares of Cronos Group were punished by investors this week after the Ontario-based licensed producer of cannabis was targeted by short-seller Andrew Left of Citron Research – but at least one analyst called the wild swing “overdone.” Citron’s report, issued Aug. 30, accused the Cronos management team of “deceiving the investing public” by not disclosing the […]

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Marijuana exchange-traded fund takes in $22 million in August

Investors are flocking to a U.S.-listed exchange-traded fund (ETF) that tracks nearly 40 Canadian and American cannabis firms. The $436 million ETFMG Alternative Harvest ETF – which trades on the NYSE Arca under the ticker symbol MJ – has taken in around $22 million in August, putting it in a position to post its largest monthly inflow […]

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BioTrackTHC system issues disrupt Illinois cannabis sales

Approximately one in five medical marijuana dispensaries in Illinois had to temporarily close Thursday because of a problem with the state’s seed-to-sale tracking system, which is a software developed by BioTrackTHC.

BioTrackTHC, based in Fort Lauderdale, Florida, reported 16 of roughly 80 dispensaries in Illinois were affected.

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