Marijuana Cultivation News

Most marijuana canopy space ‘underutilized’ in Washington state, report says

Washington state’s recreational cannabis cultivators are using less than half their allotted licensed canopy, according to a report conducted by the state’s Liquor and Cannabis Board (LCB), which could open the door for the state to step down their licenses to a lower tier. “Licensees were generally concerned that the (LCB) may decrease their canopy […]

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Cannabis firm sues MD to block grower licenses meant for minority businesses

Curio Wellness, a vertically integrated medical marijuana company in Baltimore County, Maryland, filed a lawsuit against state regulators to stop them from awarding four new cultivation licenses that are intended to increase the number of minority business owners in the industry. The suit alleges that the commission must complete a supply-and-demand analysis before soliciting new […]

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Louisiana medical marijuana grower plans ‘limited release’ of product in May

A Louisiana medical cannabis cultivator is planning to release a limited amount of product in May, which could temporarily alleviate some frustration from the ongoing delay in the program’s rollout. However, it’s still not clear when sales would begin. GB Sciences, which has the contract to cultivate medical marijuana for Louisiana State University, will release […]

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Cronos Group reports boosted cannabis revenue but wider losses in Q4

Cronos Group, a Toronto-based licensed cannabis party, posted sizable fourth-quarter revenue, the company said in an earnings report Tuesday, but its net loss for the period grew sharply – fueled in large part by financial reporting requirements. Cronos reported fourth-quarter revenue of 5.6 million Canadian dollars ($4.2 million) for the period ended Dec. 31, 2018, up nearly 250% […]

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Cresco closes in on approval to enter Michigan marijuana market

Cresco Labs, a Chicago-based multistate cannabis operator, said it received prequalification licensing approval to enter the Michigan cannabis market. The company, which earlier this month said it plans to acquire Florida-based medical marijuana group VidaCann for $120 million, would have production and retail operations in 11 states once all outstanding applications are approved. Cresco has applied […]

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Louisiana medical cannabis grower OK’d to up production; no start date for sales

Louisiana’s agriculture department and a state-sanctioned medical marijuana grower broke through one of the key regulatory logjams keeping MMJ off pharmaceutical shelves. However, it remains uncertain when sales might begin. Agriculture Commissioner Mike Strain said Friday that regulatory paperwork and background checks were completed that will allow Louisiana State University’s medical marijuana grower to move […]

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Study: IL medical marijuana growers could meet 4 years of recreational MJ demand

Licensed medical marijuana growers in Illinois would be able to supply adult-use cannabis for four years after legalization, according to a report commissioned by licensed MMJ businesses. However, the study noted, a significant increase in the number of retail licenses is needed to meet consumer demand. The industry report contradicts a Legislature-commissioned study that predicts Illinois’ […]

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Is vertical integration the right approach for your cannabis business?

Kevin Currier has lost sleep over the prospect of vertically integrating his new marijuana business in Michigan.

A Michigan resident, Currier applied for a medical cannabis retail license in Grand Rapids while the state transitions to a recreational market.

But he often wonders whether vertical integration – having a cultivation and retail component to a company – would better position him for success.

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Michigan medical cannabis cultivator Green Peak raises $30M-plus for expansion

Green Peak Innovations, a medical cannabis cultivator based in Lansing, Michigan, raised more the $30 million in an oversubscribed debt round. The funds will be used to support Green Peak’s expansion in Michigan as well as plans to take the company’s “scalable model to other states,” CEO Jeff Radway said in a news release. Plans […]

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Marijuana firm Tilray taps ex-Goldman Sachs managing director

Canadian marijuana cultivator Tilray said it is hiring former Goldman Sachs Managing Director Andrew Pucher as chief corporate development officer. Pucher – the latest Wall Street executive to enter the marijuana industry – most recently covered cannabis stocks for Goldman as part of his role as managing director and head of Canadian Diversified Investment Banking. At […]

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