A hack of MJ Freeway’s seed-to-sale tracking system led to Washington state’s recent problems with its marijuana traceability program, regulators told licensed marijuana businesses on Thursday. Peter Antolin, deputy director of the Washington State Liquor and Control Board, wrote in a letter to business owners – including cultivators, processors and retailers – that a “computer vulnerability” in MJ […]Read More
A nearly 4-year-old cannabis retail operation in Tacoma has been closed down because it had an unpaid state tax bill of $1.4 million. The Washington state Liquor and Cannabis Board revoked the business license of Rainier on Pine and also seized all cannabis products at the shop, The News Tribune reported. The company, also known as Xander’s Green […]Read More
Problems with the rollout of Washington state’s new marijuana traceability system have cost producers tens of thousands of dollars in lost sales and contributed to dwindling cannabis inventories among retailers. At issue is problems with Denver-based MJ Freeway’s Leaf Data Systems, the state’s new vendor for seed-to-sale tracking. Producer/processors are experiencing several problems, including inability […]Read More
If hemp fiber is so strong and easy to grow, why is so much of it moldering in barns awaiting a buyer? Two hemp companies say they have the answer, and they plan to bring it to farmers who can’t find buyers for hemp’s tough stalks. HempLogic in Washington state and Power Zone Agriculture in […]Read More
Capital raises in the marijuana industry appear to be continuing unabated since the issuance of the Sessions Memo on Jan. 4. Country music star Willie Nelson’s cannabis company joined the marijuana funding fray Wednesday with the announcement of a $12 million raise for expansion into new markets. Nelson’s company, GCH, plans to enter the California […]Read More
Seattle-based Privateer Holdings, which has long been setting benchmarks for capital raises in the marijuana sector, has established a new standard – and demonstrated that at least some deep-pocketed investors have not been spooked by U.S. Attorney General Jeff Sessions. The marijuana-focused private equity company announced Thursday it has completed a $100 million Series C […]Read More
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 […]Read More
A letter to 10 major Congressional leaders from 19 attorneys general asks Congress to push through legislation that would allow states with medical or recreational marijuana laws to bank as other business do. The group suggests that Congress give special attention to measures such as the Secure and Fair Enforcement Banking Act (SAFE). Congressman Ed Perlmutter, D-Colorado, introduced […]Read More
Washington state’s cannabis supply continues to swell, flooding the market and causing both wholesale and retail prices to sink.
After the October 2017 outdoor harvest – the state’s largest to date – Jim MacRae, owner of cannabis-focused business intelligence firm Straight Line Analytics in Seattle, says the market will have a 60% larger supply than in 2016.
With an ounce of legal marijuana flower selling for as low as $40 in the state’s retail stores, both shop owners and producers are seeking changes to Washington’s cannabis regulations.Read More
Prominent figures from the nine recreational marijuana markets in the United States reacted defiantly to the announcement that Attorney General Jeff Sessions is throwing out Obama-era protections for the legalized cannabis industry. From Alaska to Maine, industry insiders in states with legal adult-use programs and politicians from both sides of the aisle spoke out against the action. But […]Read More
Washington state marijuana businesses won’t have a government-run seed-to-sale tracking program for at least another month, causing industry insiders to worry that the prolonged delay could lead to diversion and other compliance issues.
The state’s Liquor and Cannabis Board was planning to implement Denver-based MJ Freeway’s Leaf Data Systems on Jan. 1 but instead has delayed the target rollout date to Feb. 1.Read More
Privateer Holdings has added an edibles company to its portfolio of marijuana businesses, marking the Seattle company’s first foray into the infused products sector. According to a news release, The Goodship, a Seattle-based marijuana edibles company, said it had agreed to join Privateer’s “family of brands.” Terms of the acquisition weren’t disclosed. The news release said the […]Read More
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