A nonprofit credit union in Alaska, Anchorage-based Credit Union 1, is set to begin offering financial services to cannabis companies in the state in March, which will allow those businesses an avenue to reduce their reliance on cash. It is the first time marijuana companies in the state have had access to this kind of banking option, according […]
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City of Sonora to sue California over statewide marijuana delivery policy
The city of Sonora, in central California, plans to file suit against the state Bureau of Cannabis Control (BCC) over a policy adopted in 2018 that allows commercial marijuana to be delivered anywhere in the state, regardless of local bans on MJ commerce. According to The Union Democrat, the Sonora City Council voted 5-0 to […]
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Legal cannabis sales top $6 billion in Colorado
Colorado’s legal marijuana market hit a milestone at the end of 2018, going over $6 billion in combined recreational and medical sales since the adult-use market launched on New Year’s Day in 2014. But since 2016, recreational sales have continued to climb as medical sales have taken a serious dip. In 2018 alone, there was […]
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MJBizDaily launches annual cannabis industry survey to collect key business data
Marijuana Business Daily has launched its seventh annual survey of cannabis industry executives and investors, an undertaking that’s intended to help the Colorado-based company provide key market, financial and operational data for businesses and entrepreneurs. Owners, founders and executives with dispensaries/retail stores, commercial cultivation operations, infused product manufacturers, vertically integrated businesses, testing labs and ancillary firms, […]
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Luxury retailer Barneys New York to sell marijuana products in California flagship
Upscale specialty retailer Barneys New York announced plans to sell cannabis products and accessories in a new “luxury” head shop called The High End, the latest mainstream company to capitalize on the marijuana industry. The shop will open in March inside the Barneys flagship store in the tiny Southern California town of Beverly Hills. The […]
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How Canadian firms and money are shaping US cannabis sector: Q&A with The Apothecarium’s Ryan Hudson
Ryan Hudson co-founded The Apothecarium in San Francisco in 2011. On Monday, he agreed to sell the retail company and its assets to a Canadian wellness firm for a cool $118 million to help fuel future growth. Hudson – who will remain The Apothecarium’s CEO – is the latest in a slew of California marijuana executives who’ve sold […]
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Retaining prized budtenders no easy task, but it can be done, marijuana insiders say
It can be difficult for marijuana businesses to retain their best budtenders, but the payoff for investing in retention is well worth the effort.
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San Francisco cannabis retailer acquired by Canada’s TerrAscend for $118M
Canadian marijuana firm TerrAscend announced it will acquire California-based The Apothecarium in a deal worth more than $118 million (157 million Canadian dollars). In a news release, the Toronto-based company said the deal’s terms included $73.7 million in cash plus another $44.7 million worth of stock. In return, TerrAscend will receive: Three retail shops in […]
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Chart: Despite product shortages, New Mexico medical marijuana program posts significant growth in 2018
(This story has been updated to clarify that the tabled bill would have allowed recommendations for cannabis, not prescriptions.) New Mexico’s medical marijuana program continues to grow at a blistering pace, even as supply shortages and high prices plagued the industry during 2018. The state added more than 19,000 patients in 2018 – a 41% […]
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Arkansas to activate medical cannabis cards Feb. 15
Patients who registered for Arkansas’ medical marijuana program will see their cards become active next week, but dispensaries in the state likely won’t have the ability to sell MMJ to them until April at the soonest. The active ID cards could potentially allow eager patients to travel to neighboring Oklahoma – which allows reciprocity for […]
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More illicit California marijuana retailers busted by local law enforcement
Search warrants have been served at 10 inland Southern California marijuana dispensaries allegedly operating without licenses. Several enforcement actions in the Golden State have been reported in the past several months as state and local authorities continue efforts to crack down on illicit marijuana operations. It’s a development that could help some licensed MJ firms that have […]
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10 Killer Technologies. Innovation is sweeping every sector of the cannabis industry.