Sales, Funding & Banking News

PA medical cannabis growers/processors on pace for $5M in sales in first year

Pennsylvania’s medical marijuana sales began in February 2018, and according to the latest tax revenue data, the state’s 12 growers and processors are estimated to have sold slightly more than $1.2 million of medical cannabis through April. Such a pace could mean at least $5 million in sales in the MMJ program’s first year, with four full […]

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California decides against state-chartered banking for marijuana industry

California lawmakers shelved a plan that would have allowed private banks to handle the money being generated by the legal cannabis industry. The proposal was put on ice after a legislative analysis determined it would face significant obstacles, including a lack of protection for state banks from federal law enforcement, the Los Angeles Times reported. The […]

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Breaking down the big deal behind Constellation’s bet on cannabis and Wall Street’s involvement

Constellation Brands’ multibillion-dollar wager on Canopy Growth is huge – record setting even – but a much larger story is lighting up across the cannabis industry: Wall Street has arrived. Financial heavyweights Goldman Sachs and Bank of America Merrill Lynch are officially dabbling in the marijuana industry now, which is a move observers call a […]

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California cannabis icon Harborside to go public in Canada via CA$200M deal

Harborside announced Monday it will go public in Canada through a reverse takeover that will allow the iconic California marijuana company to trade on the Canadian Securities Exchange (CSE). Under the terms of the deal, Toronto-based Lineage Grow Co. will acquire all outstanding securities of Oakland-based FLRish – which manages Harborside’s retail and dispensary operations – […]

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State legislators to Congress: Let states regulate marijuana without interference

State legislators from across the nation are urging Congress to allow states to regulate cannabis without federal interference, according to lawmakers from Oregon who crafted the decree. The legislators also want Congress to help state-legal marijuana businesses access banking services. In a joint statement, the Oregon state senators said a directive they crafted was approved […]

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Colorado medical cannabis companies in patent dispute

A Colorado marijuana company is suing another firm in the state for patent infringement involving its cannabinoid-based medical product formula. United Cannabis Corp. (UCANN) of Golden filed the lawsuit in Denver U.S. District Court on Monday against Pure Hemp Collective of Conifer. The Denver Post reported the lawsuit seeks an injunction prohibiting Pure Hemp from […]

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