Dispensary/Retail Store Business News

Molson Coors CBD-beverage partner Hexo closes CA$57.6 million share offering

Hexo Corp., a licensed producer of cannabis based in Quebec, Canada, raised 57.6 million Canadian dollars ($43.7 million) Wednesday when it closed its offering of common shares. The company said in a news release it will use the proceeds for global expansion and research and development. The Quebec cultivator, which trades as Hexo on the Toronto Stock […]

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What cannabis shortage? Canada has ‘sufficient supply,’ Ottawa says

Canada’s federal government says the country has more than enough legal cannabis to meet demand even as some provinces complain about shortages. “The data is clear: There remains sufficient supply to meet and exceed existing demand,” Bill Blair, Canada’s minister in charge of marijuana, said Wednesday via Twitter after receiving queries from Marijuana Business Daily. […]

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California lawmakers propose cannabis tax cuts to curb the state’s black market

In an effort to jump-start California’s sluggish legal marijuana marketplace, a group of Democratic state lawmakers proposed a bill that would for the next three years eliminate the state’s $148-per-pound cultivation tax on farmers and reduce the state’s 15% excise tax on retail sales to 11%. The bill is designed to combat the state’s entrenched black […]

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Massachusetts hits $24M in adult-use marijuana sales as state issues 100th license

Recreational marijuana shops in Massachusetts have racked up nearly $24 million in sales since the initial ones opened two months ago. That’s according to the Cannabis Control Commission (CCC), the state’s marijuana regulatory agency, which also this week issued its 100th recreational marijuana business license and moved three shops closer to opening their doors to […]

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British Columbia, Ontario at bottom of per-person legal cannabis sales

Provinces with more physical cannabis stores saw significantly higher per-person sales in the six weeks after Canada’s legalization of recreational marijuana, according to new data from Statistics Canada – an indication that consumers have a strong preference to buy their cannabis offline. British Columbia – the province with the biggest underground cannabis economy – reported […]

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Puerto Rico medical marijuana companies now without banking option

Puerto Rico’s medical marijuana companies have lost their only banking solution, forcing them to conduct business in cash. Tu Coop, an in-state credit union, had been providing banking to MMJ firms as part of the cooperative sector, which is regulated by local authorities, Caribbean Business reported. Israel Menchaca, executive director of Tu Coop, was unavailable […]

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Arkansas’ medical marijuana cultivation sites are all under construction

All five of Arkansas’ state-approved medical cannabis grower sites are being built out, a development that should come as good news for marijuana businesses that are looking to be part of a fully operational market in the state later this year. The program has been beset by delays since Arkansas voters approved a constitutional amendment […]

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Arkansas announces first medical marijuana dispensary licenses

Arkansas issued its first six licenses for businesses to sell medical marijuana in the state, another welcome development for cannabis company owners that have waited for the program to roll out since voters approved it in 2016. Sales aren’t likely to begin until April at the earliest. The Arkansas Department of Finance and Administration (DFA) […]

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ND medical cannabis market inches onward as state hands out first patient cards

North Dakota has begun issuing medical marijuana cards to patients and caregivers, which marks another step forward as the state has spent nearly two years setting up a regulated distribution system for the MMJ market. Voters in the state approved medical cannabis in November 2016. Here are the basics surrounding the situation: North Dakota’s health department […]

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