Marijuana Cultivation News

Ancillary marijuana companies hit by declining economies pivot to emerging MJ markets

Tumbling wholesale cannabis prices in some markets are devastating plant-touching operators and generating negative fallout for ancillary companies that provide services and products to those businesses. In order for supplementary companies such as accountants, consultants and security firms to continue to grow and maintain healthy revenue streams, some owners are looking to emerging cannabis markets […]

Read More

CA enforcement actions on illicit marijuana firms net more than $1.2M in product

In the latest enforcement actions targeting California’s illicit cannabis businesses, state and local agencies recently seized more than $1.2 million in illegal marijuana and MJ products in a series of raids. California licensed cannabis firms have kept a close eye on authorities’ crackdown efforts since illicit operators severely undercut legal sales. According to news releases: […]

Read More

Marijuana firm Cronos closes CA$2.4 billion investment from tobacco giant Altria

Altria Group’s record-breaking investment of 2.4 billion Canadian dollars ($1.8 billion) in Ontario-based cannabis producer Cronos Group closed Friday, completing what is so far the largest investment by a tobacco company in the cannabis space. The investment gives Altria a 45% stake in Cronos. Altria also has a warrant that, if exercised, would bump its […]

Read More

‘Forefront of consolidation’: Shareholders OK marijuana merger of Emblem, Aleafia

Shareholders of Ontario-based cannabis producer Emblem approved a 173 million Canadian dollar ($128 million) buyout from vertically integrated company Aleafia Health in a deal that puts the two companies at the forefront of a wave of consolidation in the marijuana industry. The all-stock deal was approved by 93% of Emblem shareholders March 6, exceeding the […]

Read More

Colorado may soon allow its $1.5B marijuana industry to open to outside investors & more of the week’s top news (SLIDESHOW)

Colorado looks close to welcoming a surge of outside investors and capital to its marijuana markets, Hawaii kicks off a program allowing qualified visitors to purchase medical marijuana, bills pending before the California Legislature could mean the state’s cannabis industry might see another tumultuous year of changes – plus other important news from around the MJ space.

Read More

Pennsylvania bans medical marijuana dispensaries, growers from 4/20 festival

A cannabis festival set for April 20 in Scranton, Pennsylvania, expects to draw a crowd of 10,000, but the state bars medical marijuana dispensaries and growers from sponsoring the event, even though marijuana sales won’t be allowed. The Philadelphia Inquirer reported that several dispensaries had committed up to $8,000 apiece in sponsorship money and to […]

Read More

ME nixes contract with Metrc, opens bids for marijuana seed-to-sale software

Maine is withdrawing its $150,000 contract with Florida-based Franwell – the maker of cannabis seed-to-sale tracking software Metrc – because the state is concerned the deal could draw a challenge that results in a delay of recreational marijuana sales. The state’s new Office of Marijuana Policy said it now will seek competitive bids for tracking services by […]

Read More

New Mexico relaxes medical cannabis plant limits, so prices should ease

New Mexico regulators enacted an emergency rule that more than quintuples the medical marijuana plant count limit to 2,500 per grower, a development that should lower MMJ prices and increase supplies and sales. The 180-day emergency rule was in response to a November court ruling in which a district judge struck down the state’s 450-plant limit […]

Read More

Report: Demand could overwhelm growers if Illinois legalizes adult-use marijuana

A new report predicts Illinois’ 16 licensed marijuana cultivators would be able to supply just 35%-54% of demand if recreational marijuana is legalized, underscoring the potential size of the state’s adult-use market. According to the report commissioned by Illinois legislators, annual demand could top 550,000 pounds of cannabis if the state OKs adult-use marijuana, the […]

Read More

California cannabis licensing backlog could spur collapse of supply chain, ‘hundreds of businesses’

A California Senate panel on Wednesday advanced a bill – dubbed a “Band-Aid” by one sponsor – in a last-minute bid to prevent thousands of marijuana companies from being temporarily forced out of the legal market and causing chaos in the state’s marijuana supply chain.

But the move is likely to be in vain, at least in the short term.

Read More