Marijuana Cultivation

Four marijuana firms to form multinational company, continuing industry consolidation

Consolidation continued in the cannabis industry Tuesday, with four major marijuana businesses from the United States and Canada merging to launch a multinational company with combined revenue forecast to total more than $200 million next year.

Operating under the name TILT Holdings, the new companies will include the combined operations of Baker Technologies, Sea Hunter, Briteside and Santa Veritas Therapeutics, according to a news release.

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Aurora Cannabis to acquire Canadian rival MedReleaf for CA$3.2B in industry’s biggest deal

Aurora Cannabis has agreed to acquire rival Canadian cannabis producer MedReleaf in a deal valued at $3.2 billion Canadian dollars ($2.5 billion) that would create the largest marijuana company in the world. The transaction, announced Monday, marks the largest deal inked in the cannabis sector to date, giving the combined company a footprint that will […]

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Louisiana university’s medical cannabis partner undergoing ownership feud

Southern University in Louisiana has contracted with a company to run the school’s medical marijuana program, but the firm’s principals are embroiled in an ownership struggle. According to The Advocate, the Baton Rouge university said Thursday it had signed a contract with the two majority owners of Advanced Biomedics. Southern picked the company last fall […]

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Minnesota medical marijuana company LeafLine loses CEO

The chief executive of one of Minnesota’s two medical marijuana manufacturers has left the company after years of financial losses.

Andrew Bachman, LeafLine Labs’ co-founder and its chief executive since 2016, is no longer with the company “in any official capacity,” the company said Thursday in a statement to the Associated Press.

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Marijuana cultivators find ways to shorten curing process

In an ideal world, cultivators would have the luxury of time when it comes to drying and curing their cannabis.

They’d take 30-60 days – waiting, sniffing, eyeing and “burping” – to achieve the ideal cannabinoid and terpene profile for each lovingly grown flower.

But in the real business world, larger cultivators need to get product out the door. They don’t have one or two months to spend on curing.

That doesn’t mean, however, that cultivators must sacrifice quality for large-scale commercial production.

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McLellan calls on Canadian Senate to avoid ‘undue partisanship’ to get around rec cannabis delay

The former chair of Canada’s federal task force on cannabis legalization is calling on senators to avoid “undue partisan activity” as the bill faces the potential of a delay over contentious amendments that are under consideration. The Senate has every right to consider the Cannabis Act rigorously, Anne McLellan told Marijuana Business Daily. “But I’m hoping that partisanship […]

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Week in Review: SBA says no to cannabis, Maine advances rec MJ & Scotts Miracle-Gro shrinks

The U.S. Small Business Administration bars banks from issuing SBA-backed loans to marijuana- and hemp-related companies, Maine lawmakers override a veto of key adult-use legislation, and Scotts Miracle-Gro consolidates its cannabis operations. Here’s a closer look at some notable developments in the cannabis industry over the past week. SBA shuts off the spigot Small businesses […]

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Canadian Senate committee asks for marijuana legalization delay

Two Senate committees reviewing Canada’s proposed marijuana legislation are asking for significant changes to the bill before it becomes law – changes that could delay implementation and have a major impact on businesses prepping for the recreational market.

The Committee on Aboriginal Peoples wants the bill amended to address a “lack of meaningful consultation” with First Nations communities and asked for a delay of up to one year.

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Two California marijuana firms close Series A funding rounds totaling $11M

Two Oakland, California-based marijuana firms have their sights set on expansion after closing on Series A funding rounds that together totaled $11 million. Marijuana manufacturer Sublime Canna closed on a $6.2 million financing round – capital that will be used for new equipment, new staff and to expand its product offerings. The company is planning […]

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New SBA lending rules could curb loans to marijuana and hemp businesses

The U.S. Small Business Administration updated its lending guidelines with new rules that could have a major impact on businesses servicing the marijuana and hemp industries – not just plant-touching companies. The revised guidance, published in early April, prohibits banks from issuing SBA-backed loans to any company that has a direct business relationship with a cannabis or […]

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