A Colorado credit union aiming to serve cannabis businesses won a partial victory Thursday when a court ruled the Federal Reserve Bank of Kansas City cannot block access to a special account the firm needs to do business. The decision is a symbolic triumph for Fourth Corner Credit Union but won’t allow the firm to […]Read More
By Omar Sacirbey
The marijuana industry can expect higher valuations, more capital injections and increased merger and acquisition activity after the sale of High Times and the iconic magazine’s Cannabis Cup.
That’s the assessment of analysts following the deal, in which investors paid $42 million for a 60% stake in the company.Read More
By Omar Sacirbey In 14 years on Wall Street, Hadley Ford was involved in more than 150 deals worth billions of dollars. He later co-founded and scaled a cancer treatment facility to more than 300 employees and $100 million in annual revenue. In 2014 he moved to the cannabis sector by founding iAnthus Capital.Read More
California’s looming legal recreational marijuana market eventually will total more than $5 billion in annual sales, but the black market will continue to provide substantial competition, according to a study by the University of California Agricultural Issues Center.
Contracted by the the state’s Bureau of Marijuana Control, the study mirrors Marijuana Business Daily’s projection in May that California’s legal rec industry eventually will generate $4.5 billion-$5 billion in annual retail sales.Read More
By Eli McVey The U.S. cannabis industry is poised to inject nearly $70 billion on an annual basis into the American economy by 2021, an eye-popping figure that underscores the broader economic impact for towns and municipalities that accept legal marijuana businesses into their communities.Read More
A group of investors led by a Los Angeles investment firm have purchased a controlling stake in the oldest cannabis-centric magazine in the United States, High Times – along with its signature event, the Cannabis Cup – in a transaction valued at about $42 million.
The new owners have rebranded the company as High Times Holding Company (HTHC), according to a news release. Adam Levin, founder of the L.A. investment firm Orvea Capital, will serve as the interim CEO and chairman until a permanent chief executive is brought on.Read More
By Eli McVey With revenue of $4 billion-$4.5 billion, sales of legal recreational and medical marijuana in 2016 topped those of Viagra and Cialis, paid music streaming services, tequila and Girl Scout Cookies. It’s a notable milestone for an industry still very much in its infancy.Read More
MassRoots, a popular marijuana-focused social media platform, said in its quarterly financial filings that the company is running low on capital and will need to raise $5 million in the next year “to continue to fund operations.” The Denver-based business added that it expects to be able to raise most of that sum by exercising warrants. “We are dependent […]Read More
Investors have pumped tens of millions of dollars into the Oregon cannabis industry, according to a state senator who sits on the Oregon Marijuana Regulation Committee. He estimated that investments total between $60 million and $80 million. And that’s only in the last six months, Sen. Floyd Propanski told Northwest Public Radio. “The numbers we just […]Read More
By Bart Schaneman A California retail estate investment firm and a wealthy Florida medical marijuana advocate separately pledged Tuesday to pump $100 million each into cannabis businesses, marking a notable new chapter in the MJ industry. The combined $200 million is among the largest amounts of planned cannabis investments disclosed in a single day.Read More
A Silicon Valley venture capital firm with a successful track record in the tech industry announced that it’s throwing considerable finances behind a California startup that’s aiming to bring a marijuana breathalyzer to market. Benchmark Capital – which previously funded successful startups including Dropbox, Uber and Snap – is leading a new $8.1 million round […]Read More
StarGreen Capital – a new subsidiary of a Southern California-based real estate investment firm – said Tuesday it plans to invest $100 million in California’s medical and recreational marijuana industries over the next year. StarGreen Capital, a unit of Beverly Hills-based Starpoint Properties, said in a news release it will focus initially on working with […]Read More
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