Marijuana Sales, Funding & Banking News

50% of Ohio’s registered medical marijuana patients not buying, citing high cost

More than 42,000 medical marijuana patients in Ohio have signed up since the program went live in January, but half of those registered haven’t purchased cannabis because it is too pricey. A tight supply as a result of a lack of licensed cultivators, processors and dispensaries is keeping prices steep at retail stores, though costs have […]

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Week in Review: House votes to protect legal MJ, Acreage/Canopy shareholders decide, NY adult-use cannabis roadblock & more

The U.S. House of Representatives approves a bipartisan amendment that would shield state-legal cannabis programs from interference by the U.S. Department of Justice, Acreage and Canopy shareholders OK the planned acquisition, New York’s adult-use cannabis legislation hits a wall – plus other important news from around the industry. US House OKs provision protecting state-legal cannabis industries […]

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Cannabis company Vireo Health expands into Puerto Rico

Vireo Health, a Minneapolis-based multistate marijuana operator, said it is expanding into Puerto Rico, the company’s 11th state or territory of cannabis operations. Vireo will have the opportunity in Puerto Rico to run a cultivation and processing facility plus up to six dispensaries on the island. Christian Gonzalez, a native of the territory who has […]

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Surterra partners with Intrexon in $100 million licensing cannabinoid deal

Surterra Wellness, an Atlanta-based cannabis company with operations in Florida and Texas, announced it will partner with Hungary’s Intrexon Corp. in a $100 million licensing deal aimed at biosynthetic cannabinoid production. Surterra would use Intrexon’s proprietary yeast fermentation platform to boost its cannabinoid production. Surterra is a privately held company; Intrexon trades on the Nasdaq […]

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Cannabis firm High Times going to court over Culture Magazine acquisition

High Times Holding Corp., the cannabis media group currently trying to raise funds for a potential stock exchange listing, is being sued by Southland Publishing over the sale of the latter’s Culture Magazine. Southland agreed for High Times to purchase the magazine a year ago but claims it has not received up to $4 million […]

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Merged cannabis firms MJ Freeway, MTech to begin trading on Nasdaq

Akerna, the newly formed marijuana company involving the merger of cannabis technology company MJ Freeway and MTech, a special purpose acquisition company, is to begin trading on the Nasdaq on June 18. MJ Freeway CEO Jessica Billingsley will lead the company, which will trade under the ticker symbol KERN. The completed deal was to have […]

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US House committee approves spending bill with cannabis banking protections

A key U.S. House panel approved a spending bill including a provision that would protect banks serving lawful marijuana businesses from punishment by federal financial regulators. The House Appropriations Committee approved the fiscal year 2020 Financial Services and General Government bill, which included the MJ banking measure, by a vote of 30-21. The marijuana banking […]

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