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‘So many things can go awry’ with Michigan’s medical marijuana plan

John Schroyer  | September 13, 2017

By John Schroyer

A sudden declaration Tuesday morning by Michigan regulators that all medical marijuana dispensaries statewide should start preparing to close by Dec. 15 made one thing clear:

The next steps for Michigan's existing MMJ businesses are more akin to a traffic roundabout than an obvious road forward.

Chart: Percentage of cannabis business owners and founders by race

Eli McVey  | September 11, 2017

By Eli McVey

Think the cannabis industry is dominated by white business owners? It is, but perhaps not to the level many believe.

A Marijuana Business Daily survey found that 19% of respondents who launched a cannabis business and/or have an ownership stake in a marijuana company are racial minorities.

Rohrabacher-Blumenauer Amendment extended until December

John Schroyer  | September 8, 2017

By John Schroyer

A key federal law protecting the medical marijuana industry from interference by the U.S. Department of Justice has been extended until Dec. 8 under the provisions of an emergency aid package approved Friday by Congress, Marijuana Business Daily has learned.

Week in Review: MMJ setback in Congress, Scotts repositions, Texas CBD takes a small step

John Schroyer  | September 8, 2017

By Omar Sacirbey, Bart Schaneman and John Schroyer

Medical marijuana safeguards suffer a setback in Congress, Scotts Miracle-Gro divests overseas to focus on North America opportunities – including MJ – and Texas approves a CBD producer.

Here’s a closer look at some notable developments in the marijuana industry over the past week.

Marijuana executives making push into mainstream politics

John Schroyer  | September 7, 2017

By John Schroyer

Cannabis entrepreneur Todd Mitchem announced in a late-August email blast that he’s running for Congress, and the subject line even referred to the Coloradan as a “marijuana industry leader.”

He’s one of at least five current candidates for public office around the United States who have direct professional connections to marijuana.

Canada’s Tilray to spend $24M to build marijuana facility in Portugal

Matt Lamers  | September 7, 2017

By Matt Lamers

Tilray plans to spend 20 million euros ($24 million) to build a medical marijuana production facility in Portugal to serve the European Union, becoming the second Canadian licensed producer to unveil plans to build an overseas cultivation operation for exporting MMJ.

Washington state broker aims to sell bundle of 12 marijuana retailers for up to $70M

Bart Schaneman  | September 6, 2017

By Bart Schaneman

A dozen marijuana retail businesses in Washington state are employing an unusual strategy on the mergers and acquisitions front: package their assets together for a combination sale.

In a move that’s being described as “unprecedented,” Seattle-based investment bank GRN Funds is asking $60 million-$70 million for the 12 retail cannabis firms.

Chart: Minorities occupy 17% of executive positions in marijuana industry

Eli McVey  | September 5, 2017

By Eli McVey

The percentage of minorities holding executive positions at cannabis businesses stands at 17%, according to a Marijuana Business Daily survey.

While many in the industry would like to see this number even higher, it’s greater than the average across all U.S. businesses as a whole.

Week in Review: Netflix + cannabis, Tennessee eyes MMJ & Israel-Canada partnership targets US

John Schroyer  | September 1, 2017

By Bart Schaneman, John Schroyer and Omar Sacirbey

Netflix develops marijuana strains to promote its shows, Tennessee plans to study the impact of medical cannabis, and Israeli and Canadian firms partner to do business in the United States.

Here’s a closer look at some notable developments in the marijuana industry over the past week.

No evidence of widespread bank crackdown on cannabis advocacy groups, observers say

Omar Sacirbey  | August 31, 2017

By Omar Sacirbey

A major bank’s decision to close accounts tied to the Marijuana Policy Project and NORML put cannabis advocacy groups on high alert, with some fearing the start of a concerted attack on the MJ movement by the Trump administration.

But the groups say it appears those initial fears were overblown.