Marijuana Cultivation

L.A. crackdown: 105 unlicensed cannabis firms, 500-plus people targeted

Los Angeles prosecutors have filed misdemeanor charges against 515 people in a clampdown on 105 illegal marijuana businesses in the city – a move that could benefit legal MJ companies by helping to eliminate black-market rivals. The businesses targeted include retail shops, delivery services and cultivation operations, of which nearly two dozen have closed since […]

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California marijuana company Canndescent closes $13 million funding round

California marijuana cultivator Canndescent announced Thursday that it has closed a $13 million Series C Convertible funding round to help finance the company’s expansion into new state markets. The company also will use the money to bankroll a second cannabis brand and new product lines. Canndescent, which already specializes in pre-rolled joints and premium cannabis […]

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Judge: Oregon county’s lawsuit against state cannabis law should be dismissed

A federal lawsuit filed by a southern Oregon county with a large number of cannabis growers looks likely to fail after a magistrate judge recommended the case be tossed out. Josephine County’s lawsuit argues that the state’s cannabis industry is preempted by the federal government’s prohibition on marijuana, the Portland Business Journal reported. But Judge Mark D. […]

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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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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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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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Earnings highlights: Hedge fund billionaire Leon Cooperman bets on cannabis; two firms deliver solid Q2 results

Share prices at cannabis firms Green Thumb Industries and Tilray are on the rise after solid second-quarter performances – and mainstream investors are taking note, with at least one hedge fund billionaire throwing his support behind the industry. The two businesses reported their first earnings as newly public companies after the markets closed Tuesday. Here’s […]

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Connecticut adds eight conditions to medical marijuana treatment list

Connecticut added eight ailments to the list of conditions that can be treated with medical cannabis, including muscular dystrophy and intractable headaches. The Register Citizen reported that the state legislature’s Regulation Review Committee voted unanimously Tuesday to add the new conditions, which is a move that could boost MMJ sales. The eight additional ailments bring […]

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Most illegal CA marijuana grows have ‘potentially lethal’ traces of pesticide

Federal and state officials in California launched a summerlong effort to clamp down on illegal cannabis cultivators and discovered that nine of every 10 farms raided contained traces of powerful and potentially lethal pesticides, authorities said Tuesday. The findings underline what many in the state’s licensed cannabis industry have long bemoaned: They’re losing significant market share […]

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Oregon slashes daily purchase limits for medical cannabis patients

In a bid to stem the flow of marijuana product to the black market, Oregon regulators have ordered a steep cut over the next six months in the amount of cannabis that medical MJ patients can buy on a daily basis. The Oregon Liquor Control Commission (OLCC) last Thursday reduced purchasing limits for Medical Marijuana […]

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