California Medical Cannabis Business & Marijuana Legal News

Week in Review: Cannabis banking confusion, medical marijuana vs. opioids in NY & MMJ defeat in US Tax Court

Landmark news comes from Canada this week as it becomes the first G-20 nation to legalize recreational cannabis. Read more about that here.

In the United States, cannabis banking reform advocates get mixed signals, New York plans to allow the use of medical marijuana in lieu of opioids, and U.S. Tax Court denies a Colorado MMJ company’s business deductions.

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Registered but unlicensed cannabis grow raided in Northern California

A commercial cannabis grow in California that had been legally registered and apparently attempted to obtain legal permits was recently raided by local law enforcement agents after a county ban on marijuana cultivation took effect. Calaveras County Sheriff’s deputies raided a grow in Railroad Flat and seized more than 1,300 cannabis plants, as well as […]

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Ancillary cannabis firm Kush Bottles poised to grow with $36 million raise

Cannabis packaging and supply firm Kush Bottles (OTC: KSHB) is on the prowl for new business opportunities after closing a registered direct offering worth $36 million. The direct offering included 7.5 million shares of common stock and warrants to purchase 3.75 million shares at a combined price of $4.80, the Santa Ana, California-based firm announced. The company […]

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Marijuana industry banking woes: Here’s how some states are struggling to address them

U.S. cannabis companies are forecast to bring in as much as $10 billion in retail sales this year, according to the Marijuana Business Factbook 2018. But much of that money will go unbanked by financial institutions wary of possible sanctions for servicing businesses considered federally illegal. However, as more states legalize cannabis, regulators and lawmakers are […]

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California regulatory reversal: New marijuana delivery rules highlight Eaze’s political pull

New cannabis rules in California released Tuesday highlight again how fractious the state’s industry remains. The regulations also put the spotlight on the political influence wielded by a technology company that isn’t governed by the rules it has been lobbying to change. Several cannabis industry insiders say the updated regulations – issued by the state […]

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California initiates insurance program for marijuana businesses

California rolled out an insurance program for licensed cannabis companies that’s designed to deliver much-needed coverage to many marijuana businesses that have had a hard time obtaining it. The program, called the Cannabis Business Owners Policy (CannaBOP), is an avenue for MJ companies to obtain property and liability coverage, according to a news release. CannaBOP, introduced Monday, […]

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Cannabis, hemp and CBD company mCig expands into California marijuana market

Jacksonville, Florida-based mCig announced it’s getting into the California marijuana market, with the acquisition of a 2.5-acre property in California City, north of Los Angeles. The diversified cannabis company will set up a 30,000-square-foot indoor marijuana cultivation operation, with the option to expand it to 50,000 square feet, according to a news release. Also, mCig […]

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