Sales, Funding & Banking News

$25M Infusion for Kiosk Company

More good news on the financial front for cannabis businesses: A company that sells self-service kiosks for financial transactions has landed a $25 million investment. Florida-based Payteller announced Wednesday that ISS Management LLC has agreed to an equity investment in the firm. Additional terms of the deal, including how much equity ISS will receive, were […]

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Guest Column: Banking Relief is on the Way – Here’s How You Can Prepare

By Paula B. Givens Most cannabis-related businesses do not have a transparent and ongoing relationship with a financial institution, reflecting the fact that banks are wary of servicing the marijuana industry. In recent months, though, a small number of financial institutions have quietly begun to work with cannabis companies. And more will likely do so […]

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Colorado Marijuana Tax Structure Questioned

Despite a record-setting month for recreational marijuana sales in Colorado this past June, tax revenues from retail cannabis transactions are 60% below what lawmakers initially expected by now. As a result, one state legislator says it might be time to take another look at the tax structure for both recreational and medical marijuana. Early estimates put […]

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105 Banks Working With Cannabis Industry

Banking guidelines handed down by the Obama administration earlier this year are “having the intended effect” of encouraging more financial institutions to do business with the cannabis industry, according to a key government official. Jennifer Shasky Calvery, head of the U.S. Treasury Department’s Financial Crimes Enforcement Network, told The Washington Post that there are now […]

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WA Retail Stores Post $2.6M in Marijuana Sales

The recreational marijuana industry is off to a healthy start in Washington State, with retail stores hauling in $2.6 million during the first month of sales, according to figures for July. The revenue number equates to roughly $108,000 in sales a day. The first retail stores opened in Washington on July 8. To date, only […]

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Guest Column: The 5 Types of Cannabis Companies Most Likely to Get Investment Money

By Emily Paxhia Many startups in the cannabis industry are seeking capital as the “green rush” intensifies, promising to make investors wealthy in exchange for some much-needed cash. But a fair share of these businesses struggle to find money, even though the financing pool is as deep as its ever been. Seasoned investors in the […]

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Oregon Bank Looking to Work With Marijuana Industry

An Oregon-based financial institution has confirmed it is in talks with federal and state regulators to determine ways it might offer services to cannabis businesses. MBank is examining opportunities to offer accounts to medical marijuana companies that are “professionally operated and comply with respected business and accounting standards,” according to the Portland Business Journal. Discussing […]

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FL Company Nabs $500K Funding Commitment

A Florida company has secured up to $500,000 in investments to fuel its business interests in the marijuana field. Holding firm iMD Companies landed an initial infusion of $25,000 with an agreement for additional funds as needed to support growth down the road. The company did not reveal the firm or individuals behind the funding, […]

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Moody’s: WA Rec Sales Could Fall Short of Projections

Initial recreational cannabis sales in Washington State could fall “well short” of expectations due to high tax rates, competition from medical marijuana and delays in the licensing process, according to an updated outlook by Moody’s Investors Service. As a result, the state’s total tax and licensing revenues from retail marijuana will likely be far lower […]

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Canadian Cannabis Company Buys Huge Facility for $13M

A prospective medical marijuana company in Canada has purchased a 300,000-square-foot facility for roughly $13 million U.S. dollars. Canadian Cannabis Corporation purchased the enormous warehouse in the town of Brampton, Ontario, under a one-year term mortgage, according to a press release. The facility, when fully built up, has a maximum cultivation space of 600,000 square […]

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