Legal & Regulatory News for Marijuana Businesses

New Jersey medical cannabis expansion attracts multistate MMJ businesses

A number of multistate operators are vying for the coveted six additional medical marijuana licenses in New Jersey’s rapidly growing MMJ industry, underscoring the increasing attraction of the Garden State market. The New Jersey Department of Health has made the list of applicants available but said no further information would be released until the licenses […]

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LA lifts medical marijuana patient caps for doctors to boost market’s viability

Louisiana regulators agreed to eliminate the 100-patient limit for doctors authorized to recommend medical marijuana, a move aimed at removing a potential stumbling block for a market that’s expected to launch late this year. The State Board of Medical Examiners voted 8-1 on Monday to remove the cap established in 2016. By a narrower 5-4 […]

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Oregon medical marijuana operator sentenced seven months for federal tax crimes

A part-owner and operator of two medical marijuana dispensaries in Oregon was sentenced to seven months in prison Monday, marking what a prosecutor called the country’s first federal sentencing of a legal MJ business owner for tax crimes. Matthew Price also was ordered to pay $262,776 in restitution to the Internal Revenue Service during sentencing […]

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Build it and they will come? Cannabis entrepreneurs wager big bucks on social consumption venues

Applicants for marijuana social consumption licenses across the United States are betting that consumers will want to patronize a public venue where they can consume cannabis with other users.

Entrepreneurs who pursue this new niche sector are likely to wager hundreds of thousands of dollars to get their businesses off the ground, according to industry executives.

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Parent firm of marijuana mag High Times raises $5M, extends cutoff for $50M goal

The parent of California-based cannabis culture magazine High Times raised more than $5 million in its effort to go public, but that’s still short of the $17.2 million it needs to be listed on the Nasdaq and far from the $50 million it set out to raise. High Times Holding extended its fundraising deadline by more than a month to allow for more investment.

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Cannabis firm Tilray cuts ties with Namaste Technologies following pledge party

A reportedly racy shareholder party hosted by Namaste Technologies has cost the Toronto company its business ties with fast-growing cannabis producer Tilray.

Officials with Tilray confirmed in an email to Marijuana Business Daily that it had “ended its relationship” with Namaste after a highly publicized “pledge party” the firm held for stockholders who promised not to sell company shares for 90 days.

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New Jersey OKs vape cartridges, boosting medical cannabis market potentials

New Jersey’s once heavily restricted medical marijuana market continues to open up: MMJ businesses will now be able to sell vape cartridges filled with concentrates, a move that could boost dispensary sales and open new opportunities for makers of vaporizers and concentrates. The move comes after the state Department of Health waived the previous ban, according […]

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OR county gets grant to battle marijuana growers harvesting more than license limits

An Oregon county’s sheriff’s office will use state grant money to go after legal growers that harvest more than their license allows as well as black market marijuana producers. The nearly $600,000 grant from a new program will pay for three detectives, one crime analyst and a part-time prosecutor in Jackson County, the Mail Tribune […]

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Ohio to strip license from medical cannabis grower

Ohio plans to revoke the license of a medical marijuana cultivator that has made little progress in building its facility in Toledo. The business, OhiGrow, which won a Level 2 small cultivator license, could appeal, according to Columbus Business First. “We found them to be generally nonresponsive,” Mark Hamlin, senior policy advisor at the Ohio Department […]

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Marijuana company Curaleaf looking for $4 billion valuation

Massachusetts-based Curaleaf, a vertically integrated cannabis company, is seeking a valuation of up to $4 billion. According to Bloomberg, the company entered into a reverse takeover when Canada’s Lead Ventures combined with PalliaTech in August and changed its name to Curaleaf. The company plans to offer subscription receipts – which can be exchanged for common […]

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Judge nixes Michigan’s plan to close 98 medical cannabis businesses

A judge on Thursday issued an injunction preventing Michigan from closing 98 medical marijuana facilities as planned on Sept. 15. The ruling by Michigan Court of Claims Judge Stephen Borrello orders the state to extend the deadline to Dec. 15 for all MMJ businesses temporarily operating under emergency rules, according to The Detroit News. Earlier […]

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Week in Review: MJardin’s reverse takeover, California’s marijuana testing woes & Alaskans’ taste for high-THC goods

MJardin becomes the latest U.S. cannabis company to go public in Canada through a reverse takeover, nearly 20% of marijuana products in California fail tests for potency and purity, and Alaskans’ preference for high-THC products could bankrupt some growers. Here’s a closer look at some notable developments in the cannabis industry this week. Buyer beware […]

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