Sales, Funding & Banking News

MMJ Farmers Market in LA Challenges State, City Rules

A medical marijuana dispensary in Los Angeles is promoting a type of cannabis farmers market over the July 4 weekend, but it’s unclear whether the event is even legal. The West Coast Collective dispensary is hosting the market, where vendors will set up booths and then sell their products directly to card-carrying patients at a […]

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UK Company Raising $148M to Advance CBD Drug

British drug maker GW Pharmaceuticals plans to raise $148 million from U.S. investors to advance an epilepsy drug that uses cannabidiol (CBD). The company will sell 1.7 million American Depository Shares on the Nasdaq – where it trades under the symbol GWPH – priced at $86.83 each. The drug, called Epidiolex, contains cannabidiol oil extracted […]

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Investors Warned About Canadian Cannabis Stocks

Canadian securities officials are warning investors to be cautious of publicly traded medical marijuana companies. In a release, the Canadian Securities Administrators said that public companies could be misleading investors about their business plans and employing pump-and-dump techniques to raise their share prices. Some of these businesses have attracted sizable interest from investors after simply […]

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Washington Recreational Cannabis Inventory Could Go Quick

Some growers in Washington State predict that retail cannabis shops will exhaust their inventories during the first weeks of operation, creating a similar situation to the one that played out in Colorado earlier this year. Attila Soos – owner of Verdavanti, a large licensed grower – said there is “no feasible way” that growers will […]

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Cannabis Tech Startup Raises $225K

A Denver-based cannabis technology firm has raised $225,000 from investors tied to The ArcView Group. The company, called CannaBuild, creates an “online budtending experience” by allowing dispensary and retail operators to provide real-time information on strains and product availability to customers via a website and smartphone application. The application uses video chat or text chat. […]

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Dozens of Denver MMJ Businesses Could Be Forced to Close

More than 40 medical marijuana businesses in Denver might have to close on July 1 if they can’t obtain required licenses from the city. Many of the businesses trace their roots back to the early days of Colorado’s medical marijuana industry, before the state established strict regulations on the industry. When Colorado and Denver began […]

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CO Recreational Cannabis Shops Rack Up $22M in April

April was a good month for Colorado’s marijuana businesses. Retail marijuana shops sold $22 million worth of cannabis and related products during the month – an increase of about 13% from March and more than 50% from January, according to the latest tax figures released by the state. The sales uptick is tied in part […]

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Minnesota Medical Marijuana Market ‘Weird New Frontier’ for Cannabis Industry

By Fred Dreier Cannabis advocates are still celebrating Minnesota’s recent decision to legalize medical marijuana. But business consultants and industry experts are trying to wrap their heads around the unique market that will arise under the state’s strict new law. Minnesota’s program bans the sale and consumption of marijuana flowers,

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Report: Big Tobacco Prepared to Enter Cannabis Market

Big Tobacco and other large industries are poised to enter the cannabis market if federal laws change, and they could eventually dominate the sector, a new report in a health policy journal concludes. “Policymakers and public health advocates must be aware that the tobacco industry or comparable multinational organizations (eg, food and beverage industries) are […]

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Nearly 900 MMJ Business Applications in Canada

Officials in Canada are swamped with applications to open medical marijuana businesses. Health Canada, the regulatory body that oversees the country’s medical marijuana program, has approved only 13 suppliers of marijuana for the entire country. But the agency has received 858 applications for businesses as of May 20. At one point, the agency was receiving […]

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