Sales, Funding & Banking News

Chart: Colorado marijuana sales off to strong start in 2017

Eli McVey  | April 24, 2017

By Eli McVey

Colorado’s marijuana industry – one of the most mature in the nation – continues to thrive, posting record-setting sales figures through the first two months of 2017.

Combined sales of medical and recreational marijuana in January and February 2017 totaled over $235 million, up 30% from the same period in 2016.

Canadian medical marijuana grower Aphria lands CA$100M

Omar Sacirbey  | April 21, 2017

Aphria, one of Canada’s largest licensed medical marijuana producers, announced it has secured 100 million Canadian dollars ($74 million) in financing.

The financing will be used mostly to expand Aphria’s production capacity, which “is expected to supply more than 75,000 (kilograms) of high-quality cannabis at one of the lowest costs in the …

Cannabis banking still unpredictable: Q&A with Colorado Bank Commissioner Chris Myklebust

John Schroyer  | April 20, 2017

By John Schroyer

Colorado State Bank Commissioner Chris Myklebust flew to Washington DC in March to meet with a group of state bank regulators.

He also met with U.S. Sen. Cory Gardner, a Colorado Republican, and a staffer for U.S. Rep. Ed Perlmutter, a Colorado Democrat. He brought up cannabis banking, and was encouraged.

Three cannabis companies raise over $7 million

John Schroyer  | April 13, 2017

It’s money week in the cannabis industry: Three Colorado-based ancillary marijuana companies announced multimillion-dollar capital raises totaling $7.35 million.

BDS Analytics on Monday revealed it had successfully completed a $2.1 million round of fundraising from investors, BizWest reported. The capital influx will be spent on expanding the data analytics firm’s sales and marketing …

Marijuana on the Hill: Bills introduced in Congress in 2017

John Schroyer  | April 4, 2017

By John Schroyer

Less than three months into the new Congressional session, 13 bills have been introduced - including eight last Thursday - that would change the federal government's approach to cannabis.

Here is a look at the various proposals and their potential impact.

BuzzFeed investor leads $3M funding for marijuana tech firm

Omar Sacirbey  | April 3, 2017

A cannabis-focused e-commerce platform has netted $3 million in funding that was led by a venture capital firm that has made early investments in several non-marijuana companies, including the popular news website Buzzfeed.

LeafLink, a New York-based wholesale management platform for cannabis businesses, will use the money to expand its B2B platform into newly …

Pacific Northwest marijuana investment network set to launch

John Schroyer  | March 21, 2017

Cannabis-related companies in Alaska, Oregon and Washington seeking capital may find some investors through the Cannabis Investment Network, an organization launching this week that aims to connect marijuana firms with financial backers.

Cannabis Investment Network (CIN) is hoping to serve smaller-scale firms that are looking to raise from $500,000 to $3 million, according to a …