U.S. Territories & Caribbean

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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First medical marijuana shipment from Jamaica heads to Canada

(This story has been updated to reflect the number of licenses issued by Jamaica’s Cannabis Licensing Authority.) A Caribbean company has sent the first-ever shipment of medical cannabis from Jamaica to Canada for analytical testing, marking a watershed moment that portends significant growth in trade between the countries, executives say. Jamaica’s Timeless Herbal Care shipped […]

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Northern Mariana Islands governor signs landmark adult-use cannabis law

A tiny group of islands in the western Pacific took its place in history Friday when the governor signed a bill to legalize recreational marijuana, making it the first U.S. territory to do so. Gov. Ralph D.L.G. Torres of the Northern Mariana Islands (CNMI) signed the bill, passed by the territory’s Congress earlier this year, but not […]

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A year after Hurricane Maria, Puerto Rico’s medical marijuana program back on track

One year after a hurricane devastated the island of Puerto Rico, medical cannabis businesses are reporting a remarkable turnaround from a storm that is believed to have left nearly 3,000 people dead. The U.S. territory’s medical marijuana patient pool is increasing and prices for cannabis flower are leveling off after Hurricane Maria ravaged Puerto Rico’s […]

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PA medical cannabis growers/processors on pace for $5M in sales in first year

Pennsylvania’s medical marijuana sales began in February 2018, and according to the latest tax revenue data, the state’s 12 growers and processors are estimated to have sold slightly more than $1.2 million of medical cannabis through April. Such a pace could mean at least $5 million in sales in the MMJ program’s first year, with four full […]

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‘Global paradigm shift’: International cannabis business opportunities will accelerate

Hours after Constellation Brands announced its marijuana-industry-record investment of 5 billion Canadian  dollars ($3.8 billion) in Canada’s Canopy Growth, experts told cannabis entrepreneurs and investors at MJBizConINT’L in Toronto on Wednesday that global cannabis business opportunities will rapidly accelerate. The move by Constellation – which owns, distributes and markets 100 beer, wine and spirits brands, including Corona and Robert […]

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