Florida Medical Cannabis Business & Marijuana Legal News

Wrigley chewing gum heir is new CEO of medical marijuana firm Surterra

Chewing gum billionaire William “Beau” Wrigley Jr. has been appointed CEO of medical marijuana company Surterra Wellness, a little more than two months after leading a $65 million funding round for the firm. Atlanta-based Surterra operates medical marijuana dispensaries and cultivation facilities in Florida as well as CBD dispensaries and grow operations in Texas. Wrigley is taking […]

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Key cannabis legalization wins could bring in upwards of $2 billion in new sales

Marijuana scored a sweeping victory at the ballot box on Tuesday, with voters approving new markets in Michigan, Missouri and Utah that eventually could generate $2 billion in medical and recreational sales.

Across the nation, voters installed the Democrats as the new majority party in the U.S. House of Representatives, improving the odds that lawmakers will pass federal marijuana reforms that benefit MJ businesses.

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Election updates, analysis & highlights

Marijuana Business Daily reporters were on the ground across the United States on Election Day 2018, providing live coverage of the midterms and their significance to the cannabis market. Scroll down for updates our staff filed from the states voting on cannabis-related proposals, as well as potentially pivotal U.S. congressional and gubernatorial races. For analysis of […]

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Florida Democrats want to create state bank to help medical marijuana companies

The same Florida politician who saw two of her bank accounts closed this year after voicing support for medical cannabis is now spearheading a Democratic push for a state-run bank to service the medical marijuana industry. Nikki Fried, who is running for Florida agriculture commissioner in the upcoming election, said both account shutdowns were related to […]

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Verano, Scythian strike $188 million deal for Florida medical cannabis assets

Chicago-based Verano Holdings struck a deal to acquire a prized Florida medical marijuana license from Toronto-based Scythian Biosciences in exchange for a substantial equity investment. The deal, which includes an additional Scythian investment and is valued at $188 million (246.3 Canadian dollars) overall, reflects both companies’ focus on the U.S. medical marijuana industry – Verano […]

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Florida governor appeals judge’s order to open up medical cannabis market

Florida Gov. Rick Scott’s administration appealed a judge’s order to license new businesses in one of the country’s hottest medical marijuana markets – or risk being held in contempt. Scott’s administration filed the notice to appeal Friday less than three hours before a 5 p.m. ET deadline, the News Service of Florida reported. The governor, who […]

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Florida judge to state: Quit stalling approval of medical marijuana permits

A Florida judge warned the state Department of Health that it has until Oct. 19 to register new medical cannabis operators or risk being held in contempt. Friday’s scathing order by Leon County Circuit Judge Charles Dodson follows an August decision in which he ruled that the state law restricting the number of medical marijuana […]

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MedMen inks dispensary deal to enter Illinois medical cannabis market

Los Angeles-based MedMen announced its second acquisition of the week to expand its national footprint – this time into the Illinois medical marijuana market. The multistate marijuana business agreed to acquire Seven Point, a licensed medical cannabis dispensary in the Chicago suburb of Oak Park. Terms of the deal weren’t disclosed, but it comes on the heels […]

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Weekly Deal Watch: Cannabis investing and M&A highlights (as of Sept. 7, 2018)

This is the first installment of a new weekly series from Marijuana Business Daily and Viridian Capital Advisors. Each week, we will provide you with the latest data on cannabis investment activity and M&A, along with key takeaways, analysis and trends based on recent market moves. The data below, provided by Viridian Capital Advisors, is through the week […]

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Jimmy Buffett teams with Wrigley heir to license brand to Florida cannabis firm

Popular singer/songwriter Jimmy Buffett is joining a growing list of celebrities who dabble in the marijuana industry, teaming with an heir from the Wrigley chewing gum family. Buffett – known for his hit “Margaritaville” and his Parrothead fans – will license his Coral Reefer brand to Georgia-based Surterra Holdings for a line of marijuana products that […]

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FL cannabis lobbyist turned political candidate sees second bank account shut

A second bank has terminated the campaign account of Nikki Fried, a pro-medical marijuana Democrat who is running to become Florida’s agriculture commissioner. Fried said the bank, BB&T of Winston-Salem, North Carolina, took the step because of her support for MMJ. The move highlights the banking industry’s reluctance to work with marijuana businesses and even […]

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Wells Fargo closes account of Florida candidate who backs medical cannabis

In an election-year example of banks’ reluctance to affiliate with the cannabis industry, Wells Fargo terminated the campaign account of a Florida agriculture commissioner candidate because she supports medical marijuana. The move underscores the perils of political candidates who advocate on behalf of the cannabis industry – and, if more widespread, could hamper pro-MJ reform efforts. […]

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