Marijuana Sales, Funding & Banking News

Dixie Brands to enter Oklahoma marijuana market through deal with Globus

Dixie Brands, a Denver-based consumer packaged goods company, said it is entering the Oklahoma medical cannabis market through a manufacturing and distribution agreement with Globus Holdings. Oklahoma marks the sixth state where Dixie has operations. The company trades on the Canadian Securities Exchange under the ticker symbol DIXI. There are roughly 130,000 medical marijuana patients in […]

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Marijuana, hemp side by side at MJBizConNEXT & Hemp Industry Daily Conference in New Orleans

The cannabis industry is in New Orleans this week for MJBizConNEXT with attendees having the option to specifically focus on either marijuana or hemp – or both, for that matter. That’s because, for the first time, Marijuana Business Daily is hosting side-by-side conferences for both varieties of the cannabis sativa plant, Wednesday-Friday at the Ernest […]

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Week in Review: Illinois makes history, New Jersey expands medical cannabis, FDA mulls CBD in food & more

Illinois legalizes adult-use cannabis, New Jersey maps a major expansion of its medical marijuana program, the U.S. Food and Drug Administration holds a landmark hearing – plus other important news from around the industry. Illinois marks a first Illinois became the first state in the country to legalize a commercial recreational market through its Legislature. […]

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Report: CBD sales in the US to reach $7 billion by 2023 as investments surge

Financial firms are taking advantage of billions of dollars in business opportunities opened in the U.S. hemp industry by passage of the U.S. Farm Bill, according to a new report from MJBizDaily Investor Intelligence. Hemp firms raised more than $230 million in the first five months of the year, according to data included in Investment […]

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Marijuana firm Planet 13 signals entry into CA with $10M dispensary purchase

Planet 13, the Nevada cannabis company that operates what it calls the world’s largest dispensary, is entering the California market with a $10 million acquisition of a dispensary license and lease in the Orange County town of Santa Ana. The company will pay Newtonian Principles a combination of $6 million in cash and $4 million […]

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Cannabis oil firm PharmaCielo to buy Australia’s Creso Pharma for roughly $85M

Toronto-headquartered PharmaCielo agreed to purchase Creso Pharma, an Australian-traded cannabis oil producer, for 122 million Australian dollars ($85 million). PharmaCielo is the parent of PharmaCielo Colombia Holdings, a producer of medical cannabis oils in Colombia. Creso Pharma is a medical cannabis company specializing in the research, development and production of therapeutic, nutraceutical and animal health products, […]

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Report: Minnesota’s two medical cannabis firms post $2.4 million in red ink in 2018

Minnesota’s two medical marijuana companies, Leafline Labs and Minnesota Medical Solutions, lost a combined $2.4 million in 2018, continuing the losses that have marked the state’s program since it began in 2015. But top executives from the two companies told the St. Paul Pioneer Press they are optimistic because of recent legislative changes that will make […]

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Medicine Man agrees to acquire Colorado’s largest outdoor marijuana grower, manufacturer

Denver-based Medicine Man Technologies agreed to purchase Colorado’s largest outdoor cannabis grower as well as a local manufacturing and dispensary company, saying a new state investment law paved the way for the deals. Terms weren’t disclosed. Medicine Man – a vertically integrated cannabis company – is acquiring cannabis cultivator Los Sueños Farms and MesaPur, a dispensary […]

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Lawsuit alleges cannabis packaging company KushCo misled investors

A group of shareholders filed a lawsuit against California-based KushCo, alleging that the company misled investors on the accounting behind a number of acquisitions, violating state and federal laws in the process. According to the court filing, KushCo “made false and/or misleading statements and/or failed to disclose that …. it made material accounting errors in […]

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A dozen US governors ask congressional leaders to back federal marijuana reform

A bipartisan coalition of 12 governors from states that have legalized medical or recreational cannabis sent a letter to congressional leaders, asking for their support in getting a major marijuana reform bill through the U.S. House and Senate. The governors of California, Colorado, Maryland, Massachusetts, Nevada, New York, North Dakota, Oregon, Pennsylvania, Utah, Vermont and Washington state […]

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