Briefs

Florida recreational marijuana legalization groups say they won’t make 2018 ballot

It looks as if Florida’s bid to legalize recreational cannabis will have to wait until at least 2020. Two separate campaigns trying to gather the requisite 766,000 voter signatures to place initiatives on the November 2018 ballot told the Naples Daily News that they won’t make the threshold. And that means there almost certainly won’t be […]

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Ex-boxing champ Mike Tyson breaks ground on 40-acre cannabis facility in California

Former boxing heavyweight champion Mike Tyson is looking to capitalize on the launch of legal recreational marijuana sales in California. According to The Blast, Tyson broke ground on a 40-acre plot of land in California City, a small desert town 60 miles southwest of Death Valley National Park. The facility, Tyson Ranch, was unveiled Monday, the […]

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Cronos increased financing deal to secure CA$40M for marijuana R&D

A Canadian medical marijuana producer announced a stock-purchase deal to raise 40 million Canadian dollars ($32 million) in capital, which it intends to apply to research and development.

After the deal closes later this month, Cronos will have raised more than CA$130 million since the beginning of 2017, including CA$40 million in debt.

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Court ruling puts black farmer closer to Florida medical cannabis license

A Florida judge has issued an injunction blocking the state’s health department from awarding a medical marijuana cultivation license that had been earmarked for members of a black farmers association. Circuit Judge Charles Dodson’s injunction essentially agrees with a lawsuit filed last September, the Panama City News Herald reported. The state’s attorney in the case […]

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MassRoots creates blockchain subsidiary in bid to increase marijuana efficiencies

Colorado-based cannabis technology company MassRoots on Friday announced it has formed a subsidiary that will focus on blockchain-based digital ledgers. The new division, MassRoots Blockchain Technologies, will employ the same staffers as the parent company, MassRoots CEO and founder Isaac Dietrich told Marijuana Business Daily. Blockchain technology is a digital ledger, or database, that continuously stores […]

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Charges for 10 budtenders at Colorado retail cannabis chain Sweet Leaf

Ten employees of a legal Colorado marijuana retail chain shut down by Denver authorities earlier this month face charges for allegedly selling too much cannabis in repeated sales to the same people. Sweet Leaf is one of the largest marijuana retail chains in the industry. Police raided the company’s stores Dec. 14, suspending all 26 of […]

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Marijuana ETF begins trading on US exchange

Marijuana investors have a new fund to watch as the new year approaches. ETFMG Alternative Harvest ETF – a cannabis-focused exchange-traded fund – made its debut on NYSE Arca this week with 31 holdings. NYSE Arca investors trade both stocks and options. An ETF owns and tracks certain assets and, unlike a mutual fund, can be traded […]

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Eight Pennsylvania cultivators approved to begin growing medical cannabis

Pennsylvania regulators have given the go-ahead to eight cultivators to begin growing medical marijuana, putting sales on track to begin in 2018. Once the product is ready, dispensaries should have plenty of customers to buy it, the Philadelphia Inquirer reported. The governor’s office said that more than 10,000 patients have signed up for the program, […]

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Florida bank that welcomed medical marijuana firms now closing accounts

Orlando-based First Green Bank – which earlier this year opened accounts for six of Florida’s seven medical marijuana producers and openly agreed to provide them with financial services – said it is shuttering the accounts. The Miami Herald reported the move reflects a pending acquisition of First Green Bank by a bigger financial institution that […]

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Ohio medical cannabis cultivation licensees vie for processing permits

Ohio regulators announced that 104 applicants have applied for 40 available medical marijuana processor licenses. The Cleveland Plain Dealer reported that at least 22 of those applicants are businesses that have already secured cultivation licenses. Here’s what you need to know: Ohio’s medical marijuana program allows for companies to be vertically integrated and possess retail, […]

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Privateer adds marijuana edibles company The Goodship to its portfolio

Privateer Holdings has added an edibles company to its portfolio of marijuana businesses, marking the Seattle company’s first foray into the infused products sector. According to a news release, The Goodship, a Seattle-based marijuana edibles company, said it had agreed to join Privateer’s “family of brands.” Terms of the acquisition weren’t disclosed. The news release said the […]

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Cannabis company MJardin raises $20 million to bankroll acquisitions

Denver-based MJardin Group said Wednesday it secured $20 million in equity financing, a hefty sum it plans to use for additional strategic acquisitions in the marijuana industry. MJardin – which manages dozens of cultivation facilities for cannabis companies – said in a news release it had closed on a private placement financing of equity and convertible senior […]

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