Marijuana Sales, Funding & Banking News

CA marijuana cultivators urged to cut water use

Legal and illegal marijuana cultivators in Northern California could be draining valuable water from the region’s drought-affected streams and rivers. According to a soon-to-be-published study led by California’s Department of Fish and Wildlife, some streams in the area could be sucked dry this year, and the agency believes marijuana cultivators are to blame. Water-rights advocates […]

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Money Show Wrap-Up: Financial Lessons for Cannabusinesses

Financing, taxes and cash management – three of the most important topics for cannabis entrepreneurs – took center stage during last week’s CannaBusiness Money Show events in Boston, Chicago and San Francisco. The cannabis professionals who attended each event were as diverse as the host cities. In Boston, the 200-plus crowd was comprised predominantly of […]

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GrowLife Trading Halted by SEC, Cannabis Stocks Drop

The U.S. Securities and Exchange Commission has temporarily halted stock trading for GrowLife Inc. (PHOT), which trades on the over-the-counter bulletin board. In a press release, the SEC said it has stopped trading “because of questions that have been raised about the accuracy and adequacy of information in the marketplace and potentially manipulative transactions in […]

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Recreational Sales Rise 5%, But Actual Growth Much Bigger

Sales at Colorado recreational marijuana shops rose 5% in February to hit $15.1 million, according to an extrapolation of the latest tax data released by the state. The figures are lower than expected: Many observers – seeing the huge demand when recreational sales kicked off in January – predicted that revenue would soar as more […]

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New Forecast: U.S. MMJ and Recreational Cannabis Sales to Hit $8 Billion by 2018

By Anne Holland U.S. retail cannabis sales will rise more than five-fold over the next five years, from an estimated $2.2-$2.6 billion in 2014 to $7.4-8.2 billion in 2018, according to new financial data released today in the 2014 edition of the Marijuana Business Factbook. Although the 2014 estimated sales are right in line with […]

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MyECheck Announces Payment Processing Deal to Serve Dispensaries

By Anne Holland MyECheck (OTC Pink: MYEC), a provider of mobile payment processing via electronic checks, has announced a software licensing agreement with Itonis, Inc. (PINKSHEETS:ITNS) to handle point of purchase transactions via a mobile app for medical marijuana retail sales. Does this mean dispensaries across the US will now be able to accept checks? […]

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New Marijuana Digital Currencies: Adoption, Legality Unclear

Following the lead of the online currency Bitcoin, two new digital payment options have entered the cryptocurrency market, and both are aimed squarely at the marijuana industry. The developers of PotCoin and DopeCoin claim their currencies offer customers a discreet, electronic way to pay for marijuana. They also claim that their products allow marijuana businesses […]

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Cannabis-Friendly Landlord Finalizes $4.6 Million Deal

One of Arizona’s largest real estate deals in 2014 has closed, and the property is specifically designed to attract medical marijuana tenants. Zoned Properties, a real estate company and landlord to marijuana businesses, closed on a $4.6 million transaction to take ownership of a five-acre, multi-tenant light industrial park in Tempe, AZ. Zoned Properties cited […]

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Week in Review: Mainstream Investors Finally Starting to Eye Green Rush

By Chris Walsh The dam holding back massive pools of investment money from the marijuana industry hasn’t burst yet. But cracks are starting to emerge, and millions of additional dollars could start flowing into the industry as the year progresses. The newest – and perhaps most significant – crack: An increasing number of established investment […]

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Black Market Threat to Rec Sales Lower Than Expected: Exclusive Data

By Anne Holland The economic threat the black market poses to legalized recreational cannabis sales may have been vastly overstated. According to a new consumer market research study from the editors of Marijuana Business Daily, more than 60% of cannabis users said their biggest concern when purchasing marijuana is buying it from legal sources. A […]

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Angel Investment Group Reports Big Growth

Angel investors are flocking to the marijuana industry. The ArcView Group – which connects wealthy individuals (also called “angels”) with startup cannabis companies – has seen its membership increase by 50% over the past three months. It now has 150 investors on board, each of which is looking to invest at least $50,000 over the […]

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