New Mexico Medical Cannabis Business & Marijuana Legal News

New Mexico Medical Marijuana News

Public banks offer hope for marijuana businesses, but will they arrive in time?

By Omar Sacirbey With most private institutions and credit unions still avoiding the legal cannabis industry, many marijuana businesses remain without bank accounts. But one idea is gaining acceptance among MJ entrepreneurs and a growing number of cities and states: the formation of public banks to serve the cannabis industry.

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Citing federal concerns, New Mexico city denies marijuana ads

A medical marijuana dispensary in Albuquerque, New Mexico, had visions of advertising on the sides of buses, but local transit authorities rejected the ads, citing concerns about federal law and grant funding. According to the Santa Fe New Mexican, the Ultra Health dispensary was seeking to place ads on the vehicles featuring photos of people of various […]

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Israeli, Canadian firms partner to run four US marijuana facilities

An Israeli medical marijuana company is teaming up with a Canadian firm with the goal of opening four MMJ production facilities in the United States. Israel-based Panaxia and the Canadian Bioceutical Corp. have signed a contract in which CBC will finance the four projects while Panaxia will oversee construction and then manage the operations, Israeli […]

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Nevada high court: Medical MJ business licenses are private

The Nevada Supreme Court has ruled that the names of people who possess medical marijuana business licenses in the state are confidential and don’t have to be made available to the public. The court’s decision stems from a lawsuit filed by the Reno Gazette-Journal against the city of Sparks in 2015. The newspaper demanded that the municipality […]

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New Mexico MMJ tracking system shows discrepancies

Reports from New Mexico’s seed-to-sale tracking system show that five of the state’s medical cannabis businesses actually sold roughly 200,000 more grams of MMJ than they grew from January through March. A review of quarterly MMJ reporting documents by the New Mexico Political Report found the biggest discrepancy with Giving Tree Organics, which sold nearly 28 […]

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New Mexico dispensary stays open despite State Fair violation

A New Mexico judge has issued a ruling that prohibits the state health department from imposing a penalty against a medical marijuana dispensary for displaying a cannabis plant at last summer’s State Fair. The Santa Fe New Mexican reported that Judge David Thomson ruled that requiring New Mexico Top Organics-Ultra Health to close for five days was […]

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New Mexico may expand medical marijuana qualifying condition list

New Mexico’s Medical Cannabis Advisory Board voted for the second time since November to expand the state’s qualifying condition list for MMJ, but the health department chief is apparently obstructing such an expansion. The latest vote, last Friday, was to add another six conditions to the list, after the board voted last year to add […]

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Israeli medical cannabis company launches NM production

An international cannabis business partnership is coming to fruition between an Israeli medical marijuana firm and a New Mexico-based American MMJ company. The result is the opening of a product manufacturing facility in a suburb north of Albuquerque, The Jerusalem Post reported. Israel-based Panaxia Pharmaceutical Industries announced last May that it was teaming up with Ultra Health, […]

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Week in Review: Canada’s tainted MMJ, tribal grow operation & DOJ policies

By Omar Sacirbey, Bart Schaneman and John Schroyer The fallout continues over pesticide-contaminated medical marijuana in Canada, a giant MJ greenhouse is planned for tribal land, and Jeff Sessions’ Justice Department will enact “reasonable policies” on cannabis. Here’s a closer look at some notable developments in the marijuana industry over the past week.

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MMJ grower plans $160M greenhouse on tribal lands

A proposal to build a $160 million greenhouse on tribal land in New Mexico would create the largest grow operation in the United States. The Associated Press reported that Delaware-based Bright Green Group of Companies is joining with Acoma Pueblo to build a state-of-the-art cultivation and research facility on a patch of tribal land in western […]

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New Mexico MMJ cultivator seeks to pare energy costs, footprint

The Verdes Foundation, a high-grossing medical marijuana producer in New Mexico, installed an “energy filter” technology the company hopes will cut its electricity costs by up to 37% and also reduce its carbon footprint. The sky-high energy costs of cannabis cultivation continue to be such a major financial drain and environmental stain for the industry that growers […]

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States with the best chance to legalize cannabis in 2017?

By John Schroyer After a landmark year in cannabis legalization, marijuana advocates have plenty of work left. And they’re not resting on their laurels. The Marijuana Policy Project calculates a whopping 37 legalization bills for medical or recreational marijuana are likely to be introduced in 33 states and the District of Columbia in 2017.

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