Applicants for marijuana social consumption licenses across the United States are betting that consumers will want to patronize a public venue where they can consume cannabis with other users.
Entrepreneurs who pursue this new niche sector are likely to wager hundreds of thousands of dollars to get their businesses off the ground, according to industry executives.
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A reportedly racy shareholder party hosted by Namaste Technologies has cost the Toronto company its business ties with fast-growing cannabis producer Tilray.
Officials with Tilray confirmed in an email to Marijuana Business Daily that it had “ended its relationship” with Namaste after a highly publicized “pledge party” the firm held for stockholders who promised not to sell company shares for 90 days.
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Massachusetts-based Curaleaf, a vertically integrated cannabis company, is seeking a valuation of up to $4 billion. According to Bloomberg, the company entered into a reverse takeover when Canada’s Lead Ventures combined with PalliaTech in August and changed its name to Curaleaf. The company plans to offer subscription receipts – which can be exchanged for common […]
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MJardin becomes the latest U.S. cannabis company to go public in Canada through a reverse takeover, nearly 20% of marijuana products in California fail tests for potency and purity, and Alaskans’ preference for high-THC products could bankrupt some growers. Here’s a closer look at some notable developments in the cannabis industry this week. Buyer beware […]
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Massachusetts medical marijuana industry officials cautioned that a crackdown by state regulators on their use of pesticides, including natural compounds used by the organic food industry, could hamstring cultivators and curb MMJ supplies. The Boston Globe reported that state health department inspectors shuttered Colorado-based medical cannabis firm Good Chemistry’s growing, processing and retail operations in Massachusetts […]
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Law enforcement agents in the Los Angeles area continue to crack down on unlicensed cannabis retailers this week, with the Los Angeles Police Department serving one warrant at an illegal shop in Mission Hills on Tuesday and sheriff’s deputies raiding 13 shops in East L.A. The crackdown should benefit licensed operators that argue they lose […]
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Seattle-based marijuana retailer Have a Heart closed a $25 million series A funding round, money the company plans to use to continue its expansion. According to a news release, the investment came from backers with experience in the cannabis and technology industries. Here’s what you need to know: The business started in 2011 with five […]
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Maine put out feelers this week for a marijuana consultant to write regulations to launch the state’s recreational marijuana market and implement a new law governing medical cannabis. The state Department of Administrative and Financial Services issued a request for proposals for a cannabis consultant to draft regulations to license and regulate rec MJ businesses, the […]
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One year after a hurricane devastated the island of Puerto Rico, medical cannabis businesses are reporting a remarkable turnaround from a storm that is believed to have left nearly 3,000 people dead. The U.S. territory’s medical marijuana patient pool is increasing and prices for cannabis flower are leveling off after Hurricane Maria ravaged Puerto Rico’s […]
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Popular singer/songwriter Jimmy Buffett is joining a growing list of celebrities who dabble in the marijuana industry, teaming with an heir from the Wrigley chewing gum family. Buffett – known for his hit “Margaritaville” and his Parrothead fans – will license his Coral Reefer brand to Georgia-based Surterra Holdings for a line of marijuana products that […]
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Ontario’s Progressive Conservative government is expected to introduce legislation in late September to regulate the recreational cannabis industry, according to multiple sources with knowledge of the matter. The legislation could be introduced within days of the Sept. 24 start of the fall session. Last month, the new government reversed the previous provincial government’s commitment to […]
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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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Capitalizing on the CBD surge.