Canadian marijuana firms raised $165.9M via debt instruments this year – and that’s just the start

Matt Lamers  | September 19, 2017

By Matt Lamers

Canadian medical marijuana companies are starting to tap debt markets in a big way to fund their explosive growth, which until earlier this year had been financed almost entirely through stock offerings.

Cannabis companies raised $165.9 million via debt instruments - including convertible bonds, debentures and term loans - through August.

LSU completes deal with medical marijuana producer

Kevin Huhn  | September 18, 2017

Louisiana State University has completed its contract with a company that will grow medical marijuana and expects production to begin as early as mid-2018.

The LSU AgCenter said in announcing the arrangement Monday that its new partner, Las Vegas-based GB Sciences, will start renovating its production facility immediately, The Advocate reported.

The …

Chart: More growers, lower wholesale prices in Colorado’s recreational marijuana market

Eli McVey  | September 18, 2017

By Eli McVey

The Average Market Rate (AMR) for a pound of wholesale marijuana in Colorado’s recreational market has hit an all-time low, pushed down by the continuous flow of new cultivation facilities coming online, increased efficiency among existing growers and a rising number of outdoor grow operations.

In ‘historic’ deal, New Brunswick to buy CA$100 million of cannabis

Matt Lamers  | September 15, 2017

New Brunswick entered into separate agreements with two of Canada’s largest licensed producers to buy 9,000 kilograms of cannabis per year worth 100 million Canadian dollars ($82 million) to meet demand for its recreational market when adult-use marijuana is legalized next summer.

The groundbreaking deals could be a harbinger of things to come …

Washington state considering recreational marijuana home grows

John Schroyer  | September 14, 2017

In a move that could have a serious impact on Washington marijuana retailers, the department overseeing recreational marijuana in the state will consider allowing home cultivation for adult use.

The Washington State Liquor and Cannabis Board (LCB) announced in a news release that it will hold a public hearing Oct. 4 to …

Canada’s producers stockpiling cannabis ahead of legalization

Matt Lamers  | September 14, 2017

One year ahead of adult-use marijuana legalization, Canada’s licensed producers continue to bolster their inventories of cannabis, according to fresh data from Health Canada.

Despite the stockpiling, LPs still have a long way to go to meet anticipated recreational and medical demand. Adult-use legalization is scheduled to take effect in …

Canopy signs cannabis seed deal with Spanish pharma company

Matt Lamers  | September 13, 2017

Canopy Growth will supply medical marijuana seeds to the Spanish pharmaceutical company Alcaliber, becoming the latest licensed Canadian producer to expand its footprint in Europe.

Alcaliber will use the seeds to grow and export medical cannabis from its facilities in Spain. The seeds will be provided through a supply deal involving Smiths Falls, …

Pennsylvania medical marijuana licensing process faces legal tests

Bart Schaneman  | September 11, 2017

Pennsylvania has two legal challenges to deal with regarding licensing decisions for hotly contested medical marijuana business permits.

Two lawsuits were filed Friday against the state’s Office of Medical Marijuana:

  • BrightStar Biomedics is challenging the cultivation license given to Pennsylvania Medical Solutions, a subsidiary of Minnesota-based Vireo Health, the Philadelphia Inquirer reported. …