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Marijuana startup lands $17 million from Tiger Global, Snoop Dogg

Green Bits, a compliance software developer for the cannabis industry, has landed a $17 million investment led by New York-based Tiger Global. Tiger Global’s stake in Green Bits marks a big win for the growing startup. Tiger’s investment portfolio boasts a who’s-who of startups turned giants, including Facebook, Amazon and Netflix. It’s also a signal […]

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Week in Review: California-Canada union, New Jersey’s MMJ expansion & a GOP thumbs-up for hemp

A Canadian cannabis business buys three California MJ companies, New Jersey expands its medical marijuana program, and a key Republican goes to bat for industrial hemp. Here’s a closer look at some notable developments in the marijuana industry over the past week. Northern invasion The announcement that yet another Canadian company – Ontario-based CannaRoyalty Corp. […]

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Canada hemp farmers blame overproduction for drooping prices

Hemp farmers in Canada say overproduction is depressing prices for seeds. The Canadian Hemp Trade Alliance told the Commodity News Service that Canadian seed prices have fallen from about 75 Canadian cents (58 cents) a pound last year to 55 Canadian cents a pound this year. Canada remains the world’s biggest hemp-seed producer, devoting about […]

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Canada’s marijuana packaging rules blasted as ‘unscientific,’ ‘fearmongering’

A day after Canada released detailed packaging requirements for recreational cannabis, executives and analysts warned that the rules are so restrictive that the government is risking a “policy fail.” The new regulations, in many ways, are more restrictive than the packaging rules for tobacco, a disappointment for marijuana companies that had been lobbying for rules that […]

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Canadian provinces, local government programs boost burgeoning cannabis industry

Cannabis companies in Canada have access to tens of millions of dollars worth of financial incentives from provincial and municipal governments – if they know where to look. So far, various levels of government in six provinces have offered incentives to cannabis-related businesses in the form of direct subsidies, tax credits and other financial sweeteners. […]

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Canadian pharmacies strengthen supply network for medical marijuana

The largest drugstore chain in Canada, Shoppers Drug Mart, continues to secure medical cannabis deals ahead of what is expected to be a tight supply market for the product, at least in the near term. In the latest deal, Aurora Cannabis agreed to become a medical cannabis supplier to Toronto-based Shoppers. Financial terms and the […]

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Tennessee judge allows CBD sellers shuttered during raids to reopen

Nearly two dozen Tennessee stores padlocked for selling CBD are back open after a local judge ordered that keys and cash registers be returned to the 23 stores shuttered Feb. 12 in Nashville suburbs. Rutherford County Circuit Judge Royce Taylor ordered the stores to be allowed to reopen Friday, the same day that 16 defendants […]

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South Korean lawmaker introduces bill to legalize medical cannabis

A lawmaker with South Korea’s ruling Democratic Party is attempting something that would have been unthinkable even one year ago in the socially conservative country — legalizing and regulating medical cannabis. Rep. Shin Chang-hyun introduced a bill to revise the Act on the Control of Narcotics to permit the use of medical marijuana. Shin is […]

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Labeling error spurs Canada’s Aphria to recall medical cannabis

A licensed producer of medical marijuana in Ontario has recalled a small amount of dried marijuana due to a labeling error. Leamington, Ontario-based Aphria issued the voluntary recall for two lots of dried marijuana sold in 10-gram bottles produced between Jan. 19 and Jan. 22. The labels failed to include a percent sign next to […]

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Two Canadian cannabis producers each raise CA$70 million

Canada’s licensed marijuana producers continue to raise capital at a record clip to fund overseas expansion plans and boost domestic production capacity ahead of legalization this summer. It took only 10 days for the country’s cannabis industry to reach nearly 1 billion Canadian dollars ($810 million) in funding this year, much faster than the seven […]

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Maricann plans to acquire Swiss hemp grower for 8 million Swiss francs

Ontario-based Maricann plans to acquire a hemp farm in Switzerland for 8 million Swiss francs ($8.5 million), making the Canadian medical marijuana producer the latest to seek a toehold in the lucrative European hemp market Maricann announced plans Wednesday to acquire hemp producer Haxxon AG, which grows hemp for CBD products in a 60,000-square-foot facility in […]

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