Dispensary/Retail Store Business News

Minnesota medical marijuana company LeafLine loses CEO

The chief executive of one of Minnesota’s two medical marijuana manufacturers has left the company after years of financial losses.

Andrew Bachman, LeafLine Labs’ co-founder and its chief executive since 2016, is no longer with the company “in any official capacity,” the company said Thursday in a statement to the Associated Press.

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Louisiana closing in on expanded conditions list for medical cannabis program

Medical marijuana businesses would be permitted to sell MMJ to treat more diseases and disorders under two bills that are steps from final passage. Doctors could recommend medical cannabis for five conditions contained in House Bill 579, which Senators approved 25-9 on Wednesday: Glaucoma Severe muscle spasms Intractable pain Post-traumatic stress disorder Parkinson’s disease The Senate […]

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Report: Uruguay is home to nearly 35,000 authorized rec cannabis users

The number of people authorized to access recreational marijuana in Uruguay is closing in on 35,000, according to a report by the Institute of Regulation and Control of Cannabis. However, the Uruguayan regulatory agency’s study notes that the number of people accessing marijuana through regulated channels is much higher due to the “sharing” of products […]

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Thanks to mayor, Alaska city OKs up to 25 retail marijuana stores

The number of retail cannabis shops in Fairbanks, Alaska, has been set at 25. After the City Council deadlocked 3-3 on whether to allow 15 or 25 stores, Fairbanks Mayor Jim Matherly was called in to break the tie, the Daily News-Miner reported. He voted to set the limit at 25, opting to give all entrepreneurs who […]

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McLellan calls on Canadian Senate to avoid ‘undue partisanship’ to get around rec cannabis delay

The former chair of Canada’s federal task force on cannabis legalization is calling on senators to avoid “undue partisan activity” as the bill faces the potential of a delay over contentious amendments that are under consideration. The Senate has every right to consider the Cannabis Act rigorously, Anne McLellan told Marijuana Business Daily. “But I’m hoping that partisanship […]

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Escape from Los Angeles: Marijuana businesses leave as city struggles to roll out legal market

Marijuana companies are fleeing Los Angeles, a setback for what is arguably the biggest cannabis market in the world. Industry executives blame city officials and their inability to approve business licenses in a timely manner. Just ask Kenny Morrison. A decade after founding his cannabis edibles business and finding success in the iconic Venice Beach area of […]

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Major Canadian supermarket chain Loblaw plans cannabis sales

One of Canada’s biggest supermarket operators plans to enter the business of selling recreational marijuana products pending legalization late this summer.

Loblaw, a leader in the country’s supermarket industry, said some of its locations in Newfoundland are among 23 selected as “qualified applicants” to become licensed cannabis retailers.

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Cannabis company MedMen taps new partner in bid to go public

Multistate marijuana company MedMen is switching up its business partner in its effort to take the firm public in Canada. The California-based firm signed a letter of intent with Vancouver, British Columbia-based Ladera Ventures that will allow a reverse takeover of the firm. The deal charts a path for MedMen to go public in Canada […]

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Two California marijuana firms close Series A funding rounds totaling $11M

Two Oakland, California-based marijuana firms have their sights set on expansion after closing on Series A funding rounds that together totaled $11 million. Marijuana manufacturer Sublime Canna closed on a $6.2 million financing round – capital that will be used for new equipment, new staff and to expand its product offerings. The company is planning […]

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New SBA lending rules could curb loans to marijuana and hemp businesses

The U.S. Small Business Administration updated its lending guidelines with new rules that could have a major impact on businesses servicing the marijuana and hemp industries – not just plant-touching companies. The revised guidance, published in early April, prohibits banks from issuing SBA-backed loans to any company that has a direct business relationship with a cannabis or […]

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Provincial Preview: British Columbia poised to play major role in Canada’s cannabis industry

Cannabis businesses in British Columbia can leverage decades of market experience in cultivation, retail and research and development to maintain their dominant position in Canada’s marijuana industry when recreational use becomes legal later this year.

The province’s multibillion-dollar gray market includes hundreds of dispensaries and at least 4,000 licensed personal growers.

But how much of that will shift to the regulated market when it rolls out?

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Medical cannabis firm AltMed lands $35.4 million to bolster US, international growth

Alternative Medical Enterprises, a multistate medical marijuana producer and dispensary operator, has secured $35.4 million in a private placement financing from a Pennsylvania-based investment group. The massive investment will allow the Sarasota, Florida-based firm to launch a major expansion in the United States and internationally, said Matthew Duffy, president and chief operating officer of the […]

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