Marijuana Sales, Funding & Banking News

Retail Cannabis Sales Jump 16% in WA; Colorado Steady

Recreational cannabis sales jumped in Washington last month, while retail marijuana revenues in Colorado remained steady in October, according to the latest data from each state.

November retail marijuana sales in Washington State rose 16% from the previous month to hit $10.5 million, according to the state’s revenue department.

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Report: Feds Gathering Evidence Against Cannabis Companies

Although the federal government has thus far largely taken a hands-off approach to states that legalize marijuana in one form or another, a report Monday from Rocky Mountain PBS I-News and USA Today revealed that federal agents are still compiling evidence against cannabis businesses. The federal government has stockpiled more than 1,100 “suspicious activity reports” that could possibly […]

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Taxes Hammering WA Marijuana Stores

Taxes on recreational marijuana businesses in Washington State are so extreme that some shops are struggling to stay open despite burgeoning sales. Cannabis City, the first retail marijuana store to open in Seattle, has racked up $2.5 million in sales, but much of that has been eaten up by state and federal taxes, owner James […]

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Minnesota MMJ Company Raises $12.4 Million

A company that secured one of two licenses to grow and sell medical marijuana in Minnesota has raised nearly $12.4 million in equity financing, a relatively large sum for a startup MMJ business. LeafLine Labs, which was founded by members of the family that runs a well-known chain of garden centers in the state, will […]

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Lessons From ‘Green Friday’: Tips for Successful Holiday Sales & Promotions

By Tony C. Dreibus Scouting out deals during the winter holidays has long been a tradition for Americans seeking bargains on everything from cars to computers to consumer electronics. Now you can add cannabis to the list. With recreational marijuana stores in Colorado and Washington opening this year and medical marijuana gaining acceptance in states […]

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1st MMJ Company in Australia to Go Public

Australia is about the get its first publicly traded cannabis company. Phytotech, a medical marijuana business based in the city of Perth in Western Australia, is moving forward with an initial public offering. The company wants to sell medical cannabis in several other countries and develop a disposable device to inhale marijuana. It is seeking […]

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Ohio Firm Lands Big Bank Loan After Battling Cannabis Stigma

Even companies that don’t touch cannabis – but have clients that do – can have a hard time getting financial backing. Witness Apeks, an Ohio-based company that makes extraction equipment for marijuana processors. Despite a healthy balance sheet and solid future business prospects, the company went through 10 banks before finally finding one that agreed […]

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CO Credit Union for MJ Businesses Could Open by New Year’s Day

Colorado marijuana businesses in need of a bank account, take heart. Banking services may soon be available via a unique credit union.  According to The Denver Post, Fourth Corner Credit Union obtained an unconditional charter on Wednesday to begin delivering financial services to cannabis companies in Colorado, and that could start as soon as Jan. […]

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Chart of the Week: Monthly Washington State Recreational Marijuana Sales, Tax Data

By Jennifer Mann Recreational cannabis revenues started off slow in Washington State but have been posting solid gains in recent months as more stores and growers come online. Since sales began on July 8, retail stores, producers and processors have brought in more than $31.6 million in revenue from cannabis sales though October, generating over […]

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Marijuana Business Conference Wrap-Up: Banking, Federal Legalization, Marketing, Investing & More

By Marijuana Business Daily staff If you want to open a bank account, seek out smaller financial institutions. If you’re looking to boost customer loyalty, engage in socially responsible business practices. And if you’re hoping to attract more women as customers, stop using packaging and advertisements that they find offensive. These are some of the many […]

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CO Marijuana Sales Take a Dip

Marijuana apparently isn’t invulnerable to market fluctuation. In Colorado, where cannabis sales have steadily risen since recreational shops began serving customers on New Year’s Day, that trend apparently came to a halt in September. According to tax data from the state Department of Revenue, recreational marijuana sales fell about 7% to $31.6 million in September. […]

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