Here are some notable stories and events to watch for in the coming days: A CANNABIS STATE OF MIND: New York adult-use marijuana legalization supporters are working feverishly to get a final bill together by June 19, when the current legislative session ends. While there are still many hurdles to overcome, the latest iteration of […]
Read MoreMinnesota Medical Cannabis Business & Marijuana Legal News
Q4 revenue jumps 72% for cannabis group Vireo amid state expansion
Vireo Health International, the Minneapolis-based, vertically integrated marijuana firm, reported revenue of $5.6 million for the fourth quarter of 2018, up 72% from the same period the prior year. Net loss for the quarter totaled $1.2 million versus profit of just over $293,000 in the same period 2017. The net loss was attributable in part […]
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Vireo enters Arizona medical cannabis market
Vireo Health, a Minneapolis-based cannabis group, said it is expanding into Arizona with the acquisition of Arizona Natural Remedies (ANR). Vireo declined to disclose the value of the acquisition. The company, which started trading on the Canadian Securities Exchange earlier this month, will now operate in seven states. ANR operates a dispensary in Phoenix and an Amado-based cultivation […]
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US marijuana firm Vireo Health launches on Canadian exchange
Vireo Health, a Minnesota-based multistate operating cannabis company, started trading Wednesday on the Canadian Securities Exchange. Vireo has growing, dispensary and processing operations in six states. Vireo is trading under the ticker symbol VREO. More details can be found here.
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Minnesota adds Alzheimer’s as medical marijuana condition
Minnesota is adding Alzheimer’s disease as a qualifying condition for medical marijuana, a move that could provide a boost to MMJ sales. More than 94,000 Minnesota residents are afflicted with Alzheimer’s, according to the Alzheimer’s Association, but it’s unclear how many of those will enroll in the program. Those who do will be eligible to […]
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Medical cannabis firm Vireo Health raises $16 million, plans to go public in Canada
Minneapolis-based Vireo Health raised $16 million ahead of its plans to take the company public in Canada. The firm completed a private placement of more than 357,000 of its Series D shares, yielding gross proceeds of $16 million. A final tranche of the offering is expected to close in the coming weeks, which is expected […]
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Autism, sleep apnea now part of Minnesota’s medical marijuana program
Patients in Minnesota with autism or sleep apnea could start receiving medical marijuana on Wednesday, an expansion that could give the highly regulated market a small boost in MMJ demand. But it’s unclear whether that expansion – announced by regulators last November – and recent market growth will be enough for the state’s two vertically […]
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What are the medical marijuana business hurdles in Minnesota?
Minnesota has one of the country’s most restrictive medical marijuana programs, and MMJ businesses in the state have experienced significant financial, management and legal issues. However, it isn’t necessarily all gloom and doom when it comes to the future of Minnesota’s MMJ businesses. Nic Easley, a national cannabis consultant and CEO of Denver-based 3C Consulting, […]
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Minnesota medical marijuana company LeafLine loses CEO
The chief executive of one of Minnesota’s two medical marijuana manufacturers has left the company after years of financial losses.
Andrew Bachman, LeafLine Labs’ co-founder and its chief executive since 2016, is no longer with the company “in any official capacity,” the company said Thursday in a statement to the Associated Press.
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Chart: Minnesota medical marijuana patient count rises with approval of PTSD, pain
Minnesota has been among the most restrictive medical marijuana markets in the United States for years, with only two licensed producers serving all registered MMJ patients, a ban on edibles and cannabis flower and a narrow qualifying conditions list. Those factors add up to a small patient pool and questions about whether Minnesota’s two vertically […]
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Chart: US hemp production soars in 2017
Rising acceptance for hemp and CBD – combined with easing regulations at the state level – caused U.S. hemp production to surge in 2017. From 2016 to 2017, the number of acres licensed for hemp cultivation in the top 10 hemp-growing states grew by 140% – while the number of hemp producers doubled over the same […]
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Hemp State Highlight: Minnesota embraces revived hemp crop, but profits elusive
Ever wondered why the U.S. hemp harvest is so tiny despite the crop’s adaptability and market potential?
Minnesota is a great place to find some answers.
The North Star State has allowed modern hemp production since 2016 and has flexible rules on how the crop can be used.
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