Dispensary/Retail Store Business News

More illegal cannabis businesses raided in Los Angeles area

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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Multistate cannabis retailer raises $25 million

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 seeks cannabis consultant to advise on recreational, medical rules

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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A year after Hurricane Maria, Puerto Rico’s medical marijuana program back on track

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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Jimmy Buffett teams with Wrigley heir to license brand to Florida cannabis firm

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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Cannabis legislation in Ontario expected in late September

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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L.A. crackdown: 105 unlicensed cannabis firms, 500-plus people targeted

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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MedMen inks CA$75M equity financing deal to expand US cannabis operations

Los Angeles-based MedMen Enterprises says it expects to raise up to 75 million Canadian dollars ($57 million) in a bought-deal equity financing plan, with the proceeds to be used to expand its U.S. retail footprint. Here’s a rundown of the deal: Toronto-based Eight Capital and Cormark Securities – as co-lead underwriters and joint bookrunners – […]

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Oregon marijuana firm lands $12.5M from Canada’s Tidal Royalty to fund expansion

Oregon-based Diem Cannabis is poised to enter a new market after landing upwards of $12.5 million in financing from Toronto-based Tidal Royalty Corp. The capital will be used over the next three years to develop and operate a large-scale cultivation and processing facility and up to four dispensaries, all in Massachusetts, the firms announced in […]

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California political groups launch website to shoot down statewide marijuana delivery

Three heavy-hitting political organizations in Sacramento, California, announced a new website Friday in a push to convince state regulators to abandon plans to allow marijuana delivery statewide. The cannabis industry largely supports the statewide delivery policy, arguing it’s necessary to guarantee access for homebound medical marijuana patients. It also would boost sales by reaching municipalities […]

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Marijuana exchange-traded fund takes in $22 million in August

Investors are flocking to a U.S.-listed exchange-traded fund (ETF) that tracks nearly 40 Canadian and American cannabis firms. The $436 million ETFMG Alternative Harvest ETF – which trades on the NYSE Arca under the ticker symbol MJ – has taken in around $22 million in August, putting it in a position to post its largest monthly inflow […]

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