Oregon-based cannabis oil company Golden Leaf Holdings paid $1.925 million to acquire cultivation and extraction licenses from NevWa, a Nevada company that does business as Grassroots. NevWa’s two licenses allow for distribution and sales in Nevada, including prominent tourist destinations Las Vegas and Reno, according to a news release. Golden Leaf Holdings’ move comes as Nevada is […]Read More
Cannabis-related companies in Alaska, Oregon and Washington seeking capital may find some investors through the Cannabis Investment Network, an organization launching this week that aims to connect marijuana firms with financial backers. Cannabis Investment Network (CIN) is hoping to serve smaller-scale firms that are looking to raise from $500,000 to $3 million, according to a […]Read More
Australian medical marijuana firm MGC Pharmaceuticals raised 10 million Australian dollars ($7.7 million) to foster development of MMJ products and purchase other companies According to Business Insider Australia, the medical grade cannabis company will use the funds for clinical trials and research and development involving pharmaceutical-grade MMJ products. The company is also seeking acquisition prospects at […]Read More
Another Denver-based company connected to the marijuana trade revealed this week it has completed a $1.65 million round of fundraising. GrowGeneration Corp., an ancillary business that specializes in gardening supplies for commercial and home grows, told the Denver Business Journal it secured the funds in equity financing from Merida Capital Partners, “a cannabis infrastructure fund.” […]Read More
By John Schroyer Cannabis industry mergers and acquisitions have been on the rise over the past year, and industry watchers say the number of sales and transactions is almost certain to continue as the marijuana trade at large matures.Read More
Baker, a Denver-based software provider that links cannabis dispensaries with their customers, announced it has secured $1.6 million since an August seed round, bringing its total funding to $3.5 million.
Poseidon Asset Management, a marijuana-focused investment management firm in San Francisco, led the funding round. Other funders were chiefly existing investors, including serial entrepreneur Michael Lazerow as well as Base Ventures and XG Ventures, two venture capital firms based in California.Read More
By John Schroyer
Grover Norquist, the clean-cut, conservative keeper of the anti-tax pledge signed by nearly half the sitting members of Congress, defies pretty much every stereotype of marijuana supporter there is.
But he has been a vocal ally of the cannabis industry for more than a decade.Read More
The Canadian cannabis industry has taken another leap toward the mainstream now that Canopy Growth Corp. is being added to the influential S&P/TSX Composite Index. Canopy, one of Canada’s federally licensed medical marijuana cultivators, will be the country’s first cannabis company to be included in the index’s health care sector, The Globe & Mail reported. The […]Read More
By Omar Sacirbey Vivien Azer, apparently the first cannabis analyst at a mainstream investment bank, is bullish on the marijuana industry. And her confidence in the market is a significant reflection of how Wall Street views cannabis. Azer is an analyst at Cowen and Co., a New York investment bank founded in 1918.Read More
New York’s nearly 13,000 medical cannabis patients apparently aren’t enthusiastic about their purchase options at the state’s dispensaries. The first New York dispensary opened over a year ago, in January 2016, but only 10,250 patients have made a purchase and just 6,403 have been repeat buyers, Politico reported Friday. The figures don’t portend a profitable […]Read More
By John Schroyer
If anyone has a good handle on how federal narcotics prosecutions work, it’s Jodi Avergun.
She once served as chief of staff for the U.S. Drug Enforcement Administration. And now, among her duties as a partner in a Washington DC law firm, she advises clients on whether to invest in cannabis.Read More
By Omar Sacirbey, John Schroyer and Bart Schaneman A prominent marijuana pipe maker sues to defend its trademark, another state seeks Trump’s guidance on MJ banking, and adult-use cannabis sales continue to drop in Oregon. Here’s a closer look at some notable developments in the marijuana industry over the past week.Read More
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