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Regulator warns Canadian marijuana firms against ‘problematic practices’

Canada’s stock market regulator warned publicly traded companies in emerging industries such as cannabis and fintech against “problematic promotional activities” that could artificially increase share prices and put investors at risk. The warning from the Canadian Securities Administrators (CSA) – an umbrella organization for provincial securities regulators – came amid already highly volatile cannabis stock […]

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Ohio judge: Medical marijuana ownership ‘racial quota’ is unconstitutional

An Ohio judge struck down a provision in the state’s medical cannabis program stipulating that 15% of licenses go to minority-owned groups, saying it’s unconstitutional. Franklin County Judge Charles Schneider said the provision denied Greenleaf Gardens, one of the cultivation license applicants, of its rights because two lower-rated, minority-owned firms were picked ahead of it. […]

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Michigan medical cannabis shortage might result in dispensary shutdowns

A lack of medical marijuana in Michigan could potentially result in the state’s approximately 40 licensed dispensaries shuttering their businesses until spring. Cannabis cultivators in the state didn’t start getting permits to grow until August, and that means a larger supply of licensed MMJ won’t be available in the state until next year when more […]

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Gubernatorial win could mean Kansas push toward medical marijuana legalization

The election in Kansas of Democrat Laura Kelly earlier this month puts a medical marijuana supporter in the state’s governor’s seat, and she recently said she senses “some momentum” among legislators to legalize MMJ with strict regulations, The Wichita Eagle reported. MMJ bills have been considered without success for years in Kansas, even though some […]

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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 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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Ahead of Canada’s big day, forecast for cannabis industry gets a boost

On the eve of Canada’s historic launch of its recreational marijuana program, the global cannabis industry appears poised for explosive growth thanks to the confluence of a host of market developments. “The well-capitalized cannabis industry has been evolving rapidly and looks to address a far larger (market) than we had originally forecast,” Wall Street analyst […]

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Marijuana firm Cresco Labs charts plan to go public in Canada

Multistate cannabis operator Cresco Labs is looking to go public in Canada via a reverse takeover (RTO), the latest U.S. firm to use this path to a listing on the Canadian Securities Exchange (CSE). Cresco announced Wednesday that it’s pursuing an RTO of Randsburg International Gold, an Ontario-based firm that has no significant operations but is listed on […]

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On cusp of legalization, Canadian cannabis stockpiles hit record

Licensed producers of marijuana in Canada have stored away a record amount of cannabis in the months leading up to legalization, yet analysts still anticipate a significant shortage after initial inventories are depleted – particularly of highly sought-after strains. According to new data from Health Canada, the country’s 100-plus licensed producers accumulated 96,700 kilograms of […]

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FDA: CBD shouldn’t be a controlled substance, but treaties require it

The U.S. Food and Drug Administration noted that cannabidiol shouldn’t be a controlled substance, but international treaties require the United States to treat it as one, the federal agency said in a 27-page memo written after it approved the first drug made with CBD earlier this year. “CBD has negligible potential for abuse,” wrote Dr. Brett Giroir, the assistant […]

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