Arizona Medical Cannabis Business & Marijuana Legal News

Ontario marijuana cultivator sells shares of Arizona grower for CA$20 million

Hoping to keep the Toronto Stock Exchange at bay, a federally licensed cannabis grower in Ontario announced Friday it is selling its shares in an Arizona cannabis company for 20 million Canadian dollars ($16.15 million). Ontario-based Aphria said it would sell its shares in Copperstate Farms, a medical marijuana grower in Snowflake, Arizona, to Liberty […]

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Week in Review: CA cannabis rollout hinders sales, Arizona mulls MMJ testing & Maine rules delayed

Scotts Miracle-Gro says California’s slow implementation of marijuana regulations is hurting sales, Arizona considers medical cannabis testing, and Maine’s governor delays MMJ regulations. Here’s a closer look at some notable developments in the marijuana industry over the past week. Scotts’ sales decline Scotts Miracle-Gro CEO James Hagedorn said California’s slow rollout of regulations has hindered […]

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Move afoot to test Arizona’s medical cannabis for mold, pesticides

A Republican lawmaker has persuaded nearly the entire Arizona legislature to sign on in support of his proposal to require medical marijuana to be tested for mold and agricultural chemicals. The proposal from Sen. Sonny Borrelli would appropriate $2 million from the state’s huge medical marijuana fund to do the testing. Borrelli has 78 co-sponsors […]

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Oregon credit union, tech firm to offer marijuana banking services

Oregon-based Wauna Credit Union has forged a partnership with Arizona tech firm Hypur that will allow the financial institution to service marijuana-related companies. According to the Coast River Business Journal, the credit union believes the partnership will allow the institution to “become part of the solution and not part of the problem.” Hypur is providing […]

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Slew of restrictive medical cannabis bills proposed in Arizona

A proposed law in Arizona would make publishing the incorrect address of a cannabis dispensary a felony. According to the Phoenix New Times, three “prohibitionist” Arizona lawmakers are trying out new ideas to stymie the state’s medical marijuana program and prevent a recreational program from becoming a reality. The proposed bills also would: Prohibit dispensaries […]

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Marijuana investment firm 4Front Holdings raises $6M for out-of-state growth

Cannabis investment and management firm 4Front Holdings has raised $6 million toward its multiple-state expansion. The funds were raised through the issuance of convertible notes. According to a news release, 4Front manages operating licenses in emerging, state-legal medical cannabis markets. Here’s what you need to know: The company – which has offices in Phoenix and Boston […]

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Colorado marijuana edibles maker Wana Brands expands into Arizona

As the first step of a plan to expand into six marijuana states in 2018, edibles maker Wana Brands has established a presence in Arizona.

According to a news release, the Colorado company’s gummies are now available in medical cannabis dispensaries throughout the state.

Wana Brands’ products will be manufactured and distributed through an agreement with AltMed Arizona.

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Marijuana real estate company files for $100 million raise

A San Diego-based real estate company that caters to medical cannabis cultivators has filed paperwork with the Securities and Exchange Commission disclosing plans to raise $100 million. If successful, Innovative Industrial Properties’ raise would be one of the larger funding efforts for a U.S. cannabis business. The company – which began listing as IIPR on the New […]

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Marijuana REIT buys Arizona property for $15 million, strikes lease deal

Innovative Industrial Properties – a San Diego-based real estate investment trust (REIT) which leases real estate to medical marijuana businesses – has agreed to buy an Arizona property for $15 million. The property comprises over 350,000 square feet of greenhouse and industrial space. The deal involves a sale-leaseback transaction with a subsidiary of The Pharm, […]

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Cannabis online platform raises $10 million

LeafLink, an online inventory and ordering platform for marijuana businesses, has raised $10 million in Series A funding. The round was led by Nosara Capital, a London-based venture capital firm, according to a LeafLink news release. Nosara was joined by previous LeafLink investors from both inside and outside the cannabis space, such as Lerer Hippeau Ventures, […]

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Arizona’s medical cannabis card fees face court test

An Arizona attorney has filed a lawsuit asking the state’s Court of Appeals to decide whether the $150 patient card fee is legal, a move that could affect Arizona’s medical marijuana market. Lawyer Sean Berberian claims the $150 fee is unnecessarily high, according to Capitol Medial Services, because it generates more than enough revenue to […]

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