Sales, Funding & Banking News

A $200M day: Two investors reveal big plans to fund marijuana businesses

Bart Schaneman  | May 24, 2017

By Bart Schaneman

A California retail estate investment firm and a wealthy Florida medical marijuana advocate separately pledged Tuesday to pump $100 million each into cannabis businesses, marking a notable new chapter in the MJ industry.

The combined $200 million is among the largest amounts of planned cannabis investments disclosed in a single day.

California company plans to invest $100 million in cannabis sector

Bart Schaneman  | May 23, 2017

StarGreen Capital – a new subsidiary of a Southern California-based real estate investment firm – said Tuesday it plans to invest $100 million in California’s medical and recreational marijuana industries over the next year.

StarGreen Capital, a unit of Beverly Hills-based Starpoint Properties, said in a news release it will focus initially on working with …

Week in Review: Washington organic marijuana, PA liquor stores & Minnesota red ink

Omar Sacirbey  | May 19, 2017

By Bart Schaneman, Omar Sacirbey and John Schroyer

Washington state signs off on an organic marijuana certification program, Philadelphia’s mayor says state-run liquor stores should handle recreational sales, and Minnesota’s two medical cannabis businesses bleed red ink.

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

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.