U.S. Territories & Caribbean Cannabis Industry & Marijuana Business News

CA marijuana regulators, L.A. officials launch 4/20 push backing legal retailers

As part of a broader campaign by state officials to help bolster the legal cannabis market while clamping down on illicit businesses, the California Bureau of Cannabis Control (BCC) rolled out a new public relations campaign asking consumers to “get weed wise.” The effort advises consumers why they should aim to purchase MJ products from […]

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Three executives resign from marijuana firm MedMen

California-based cannabis retailer MedMen is undergoing another round of executive turnover at the top levels of the company, and the most recent losses include the chief operating officer, general counsel and company spokesman. Chief Operating Officer Ben Cook and general counsel Lisa Sergi resigned, MedMen announced in a news release. Sergi also served as a member […]

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Governor of US territory Guam signs recreational marijuana bill into law

Guam Gov. Lou Leon Guerrero signed the Cannabis Industry Act into law Thursday, clearing the final legislative hurdle for the creation of a new industry for entrepreneurs on the Western Pacific U.S. island. The law will regulate the consumption, sale and production of adult-use cannabis. The nearby Northern Mariana Islands, another U.S. territory, approved a regulated recreational […]

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Guam’s Senate approves legal foundation for adult-use cannabis industry

The Western Pacific island of Guam is set to become the second American territory to create a recreational marijuana industry, pending only the approval of Gov. Lou Leon Guerrero. The neighboring Northern Mariana Islands approved creation of an adult-use cannabis market last year. Guam’s law will regulate the use, production, sale and taxation of cannabis while also […]

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Another Caribbean nation to legalize medical cannabis, decriminalize adult use

After 15 months of public consultation, Saint Kitts and Nevis is ready to follow regional neighbors in developing a medical cannabis industry. In a statement to the National Assembly, Prime Minister Timothy Harris said the government will present necessary bills to facilitate the country’s new public policy direction on cannabis. The move comes after his […]

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Puerto Rico medical marijuana companies now without banking option

Puerto Rico’s medical marijuana companies have lost their only banking solution, forcing them to conduct business in cash. Tu Coop, an in-state credit union, had been providing banking to MMJ firms as part of the cooperative sector, which is regulated by local authorities, Caribbean Business reported. Israel Menchaca, executive director of Tu Coop, was unavailable […]

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US Virgin Islands enacts medical cannabis law, opens tourism business avenues

U.S. Virgin Islands Gov. Albert Bryan Jr. has given a new medical marijuana law his stamp of approval, making the territory the latest Caribbean jurisdiction to open its doors to cannabis businesses and potential new tourism opportunities. The move has been years in the making, with voters having favored medical cannabis in a 2014 referendum. Read […]

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New law in Maine expands medical cannabis businesses’ options

Maine cannabis companies hope a new law that allows medical marijuana firms to sell MMJ to one another will help the state’s industry by opening new opportunities to do business. Here are the basics: The law, which went into effect last week, allows businesses to sell up to 30% of their harvest or inventory, the Portland Press […]

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Aphria fallout: 5 takeaways on the report that sent this cannabis stock plunging

The blows to Aphria’s stock continued Wednesday as the Canadian cannabis giant’s share price tumbled in the wake of a scathing short-seller report. Aphria’s stock (Nasdaq: APHA) closed Wednesday at $4.51 – down more than 25% for the day. The company has been on the defensive since Monday, refuting claims lobbed by short sellers Quintessential […]

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Bermuda set to open door to medical cannabis investments

Bermuda plans to allow medical marijuana production and is inviting international companies to partner with local entrepreneurs to participate, according to recent statements by Premier David Burt. The government has tapped one of the biggest medical cannabis companies in the world to help it prepare regulations to guide the new industry. “We’re participating in Bermuda […]

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