Marijuana Sales, Funding & Banking News

Dixie Holdings and Medical Marijuana Inc. Settle Legal Dispute

Two well-known companies in the cannabis industry have resolved a year-long legal dispute. Dixie Holdings – which owns Dixie Elixirs and Edibles – and Medical Marijuana Inc. announced that they have agreed to settle a lawsuit over their joint company, Red Dice Holdings. The agreement allows the companies to cut ties, letting Dixie focus on […]

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Privateer Holdings Expects to Raise $50M

Privateer Holdings, one of the largest private equity firms in the cannabis industry, is reportedly set to raise more than $50 million in its latest round of fundraising. The firm expects to finalize the investments and close its Series B financing effort at the end of May, Privateer Chief Executive Officer Brendan Kennedy told Geekwire.com. […]

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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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