Sales, Funding & Banking News

6 Questions for Privateer Holdings CEO Brendan Kennedy on the Current Investment Climate

Ancillary cannabis startups received some good news on the funding front last month when Seattle-based Privateer Holdings announced that it closed a $7 million round of funding. The private equity firm detailed plans to pump the money into fledgling firms that make products and services for marijuana patients and recreational users, bringing some much-needed investment […]

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Private Investors Charging 25% Interest Rate to New Jersey MMJ Dispensary

William Thomas, CEO of Compassionate Care Foundation, reports that he was able to raise $1.5 million from private investors to fund a dispensary and cultivation center scheduled to open this September in New Jersey’s Egg Harbor Township. However, the funding came at a high cost: an effective 25% interest rate. A 25% interest rate will […]

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Week in Review: Overview of Federal Marijuana Bills + Cannabis Stock Performance in Q2

What’s the biggest day-to-day challenge facing medical marijuana dispensaries? For most owners, it’s getting by without a bank account, which means operating as an all-cash business – and dealing with all of the headaches that entails. Last week, two Democratic federal lawmakers introduced a bill in Washington DC that would solve that problem. Under the […]

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Huge Google Grant to Michigan Marijuana Group Could Usher in New Era for Cannabis Industry

The medical cannabis movement is getting some major help from one of the most well-known corporate names in the world: Google. Michigan Compassion, a nonprofit organization that seeks to increase awareness of the health benefits of marijuana, has received a massive in-kind grant from the Internet search giant’s donation program, Google Grants. The cannabis organization […]

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Wrap-Up Report: East Coast Cannabis Entrepreneurs & Investors Seminar

By Anne Holland By noon yesterday, a line of executives clad in suits and business attire stretched far down a sidewalk on Manhattan’s lower east side – waiting for the doors to open for MMJ Business Daily’s East Coast Cannabis Entrepreneurs & Investors Seminar. They came from 21 states in all, from Maine to Florida, […]

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Multi-Million Dollar Cannabis Venture Capital Fund in Works, Plans to Target Ancillary Marijuana Startups

A California venture capital firm led by noted MMJ pioneer Justin Hartfield – who co-founded WeedMaps.com –  has launched a new investment fund that aims to pump millions of dollars into cannabis companies, acquire ancillary businesses and help guide fledgling marijuana firms. Newport Beach, Calif.-based Ghost Group hopes to raise between $10 million and $25 […]

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Medical Cannabis Dispensaries Losing Bank Accounts Over Large, Frequent Cash Deposits

An increasing number of medical cannabis dispensaries are losing their coveted bank accounts simply because they’re depositing too much cash, too frequently. The development presents yet another major challenge to doing business in an industry beset by numerous challenges, creating a situation in which the bigger the dispensary is, the more scrutiny it faces  – […]

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