Sales, Funding & Banking News

Crowdfunding effort nets CA$6.2M for Canadian hemp, marijuana company

A new crowdfunding method aimed at smaller investors helped a Canadian cannabis company raise 6.2 million Canadian dollars ($4.1 million). True Leaf Medicine, a company in Vernon, British Columbia, that makes hemp-derived treatments for animals and marijuana products for humans, launched its so-called Regulation A+ stock offering last November. The company plans to use the money […]

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19 attorneys general urge Congress to give cannabis states access to banking

A letter to 10 major Congressional leaders from 19 attorneys general asks Congress to push through legislation that would allow states with medical or recreational marijuana laws to bank as other business do. The group suggests that Congress give special attention to measures such as the Secure and Fair Enforcement Banking Act (SAFE). Congressman Ed Perlmutter, D-Colorado, introduced […]

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Cannabis grow-equipment company GrowGeneration raises $9 million

GrowGeneration, a multistate operator of retail hydroponic and organic gardening stores serving marijuana growers, said it raised $9 million through the offering of convertible notes. The Denver company said in a news release filed with the Securities and Exchange Commission that it plans to use the proceeds to expands its operations. CEO Darren Lampert said […]

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Week in Review: New York medical cannabis, the future of Colorado hemp & Maryland banking

New York approves an expanded line of medical marijuana products, a Colorado hemp producer departs for Arkansas, and a Maryland credit union welcomes MMJ businesses. Here’s a closer look at some notable developments in the marijuana industry over the past week. New York blues It’s bullish news that one of New York’s licensed medical marijuana […]

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Maryland credit union to cannabis businesses: We’re open

An aptly named credit union in Maryland is ready and willing to serve the state’s medical marijuana businesses. And it’s doing so with the knowledge it has some federal support. The Bulldog Federal Credit Union, a federally chartered institution founded in 1968 in Washington County, made its announcement less than a week after Attorney General […]

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Sessions’ move could slow cannabis investment money, but analysts doubt long-term impact

News that federal prosecutors have wider discretion to enforce federal drug law could put at least a temporary damper on investment money flowing into the U.S. cannabis sector, but analysts doubt the money will dry up. U.S. Attorney General Jeff Sessions’ decision last week to rescind Obama-era protections for the legal cannabis industry has created new […]

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Maryland community bank accepting marijuana business accounts

A local bank in Maryland is helping medical marijuana businesses alleviate a major headache in the cannabis industry. According to The Washington Post, two marijuana dispensaries and two cultivators have opened accounts with Severn Savings Bank, an Annapolis community bank owned by publicly traded Severn Bancorp. This is an operational boon for any cannabis business, […]

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Florida bank that welcomed medical marijuana firms now closing accounts

Orlando-based First Green Bank – which earlier this year opened accounts for six of Florida’s seven medical marijuana producers and openly agreed to provide them with financial services – said it is shuttering the accounts. The Miami Herald reported the move reflects a pending acquisition of First Green Bank by a bigger financial institution that […]

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Cannabis company MJardin raises $20 million to bankroll acquisitions

Denver-based MJardin Group said Wednesday it secured $20 million in equity financing, a hefty sum it plans to use for additional strategic acquisitions in the marijuana industry. MJardin – which manages dozens of cultivation facilities for cannabis companies – said in a news release it had closed on a private placement financing of equity and convertible senior […]

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Week in Review: Marijuana fund raises, more Maryland dispensaries & Alaska edibles maker shut down

Two ancillary marijuana companies announce huge fund raises, Maryland approves 12 more medical cannabis dispensaries, and Alaska regulators shut down an edibles company. Here’s a closer look at some notable developments in the marijuana industry over the past week. Sign of the times? Significant capital raises by a pair of cannabis-focused technology companies portend what […]

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Organigram plans to increase marijuana production via CA$73 million raise

The largest producer of medical marijuana on Canada’s East Coast said it signed three separate deals to secure roughly 73 million Canadian dollars ($57 million), with much of the funding going to boost its production capacity. Organigram said in a news release it sealed a stock-purchase deal to raise CA$57.5 million in capital. Eighty percent of […]

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