Sales, Funding & Banking News

Exclusive: Medical Marijuana Dispensaries No Longer Able to Accept Visa, MasterCard as of July 1

The main national company handling payment processing services for the medical marijuana industry will no longer accept Visa and MasterCard transactions from dispensaries, according to information obtained by MMJ Business Daily. Electronic Merchant Systems (EMS) – which provides merchant accounts for medical marijuana companies via a partnership with Chesapeake Bank in Virginia – informed its […]

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Khurshid Khoja: JOBS Act Could Bolster Ancillary MMJ Businesses While Customer Base Recovers

By Khurshid Khoja This is the first column in a two-part series As the ongoing federal crackdown of dispensaries and cultivators erodes the medical cannabis industry’s base, the impacts have rippled throughout the industry. Ancillary companies — such as agricultural supply firms, human resource institutes, technology providers and other businesses providing legal goods and services […]

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Weekly Wrapup: Major Marijuana Financial News + 4 California Cannabis Dispensaries Approved

News that California-based Green Asset International will spend $100 million to acquire cannabis businesses sent the medical marijuana community into a tizzy last week. The firm – led by well-known cannabis advocate and fashion marketer Cheryl Shuman – will buy and invest in ancillary medical marijuana companies, primarily those in the medical and social media […]

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Green Asset International to Spend $100 Million Investing in Medical Marijuana Companies

A California-based company has set aside $100 million to purchase and invest in cannabis businesses as part of its bid to bolster the medical marijuana industry. Green Asset International Inc. said it plans to focus primarily on “cutting-edge” cannabis companies involved in the medical and social media sides of the business. The company’s investment plans […]

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Update: Bill to Create Banks for Colorado MMJ Dispensaries, Marijuana Businesses Goes Up in Smoke

Colorado lawmakers have shot down a proposal to create “financial cooperatives” for medical cannabis companies, expressing numerous concerns with the idea and saying the state simply doesn’t have the authority to overstep the federal government on this particular marijuana issue. The bill would have allowed MMJ dispensaries and medical marijuana companies to deposit money and […]

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With Colorado Cannabis Bank Bill in Motion, MMJ Group to Discuss Medical Marijuana Money Issues

Ask cannabis dispensary owners and other professionals involved in the medical marijuana industry to list their top pain points, and you’ll likely get a pretty standard answer: Government intervention, uncertainty over business taxes and….banking issues. The last one is of particular concern to medical marijuana dispensaries in Colorado, which is currently the only state with […]

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New Cannabis Book: Secrets to Medical Marijuana Success from 7 MMJ Dispensary Owners

Curious as to how a marijuana dispensary such as Denver Relief – one of the first Colorado cannabis businesses – has managed to thrive in a constantly changing regulatory landscape that saw the recent introduction of an extensive (and expensive) new set of rules on medical pot? Ever wonder how Steve DeAngelo turned Harborside Health […]

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