Ancillary Marijuana Companies

Marijuana-focused exchange-traded fund reaches CA$1 billion in assets

A cannabis-focused exchange-traded fund has reached 1 billion Canadian dollars ($760 million) in assets, partly stemming from recent major investments from key players in the nation’s cannabis space ahead of the country’s recreational legalization. Horizons Marijuana Life Sciences ETF (HMMJ), which trades on the Toronto Stock Exchange, reached the milestone in assets under management in […]

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California cannabis tech firm Treez closes $11.5 million funding round

Treez, an ancillary cannabis tech company based in Oakland, California, raised $11.5 million to help fund its expansion. The company offers a point-of-sale software system that currently serves more than 100 MJ retailers. In a news release, Treez said Monday the $11.5 million represented an “oversubscribed” Series A funding. That brings to $15 million the amount of […]

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Chart: Dominant player emerging for state cannabis seed-to-sale tracking contracts

Businesses that provide seed-to-sale tracking systems to the marijuana industry operate in an intensely competitive environment, but one company appears to be pulling away from the pack with its recent contract victories.

Franwell – the Florida manufacturer of the regulatory compliance system known as Metrc – has won contracts with more than half the markets that require cannabis businesses to use a specific seed-to-sale traceability system.

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Marijuana exchange-traded fund takes in $22 million in August

Investors are flocking to a U.S.-listed exchange-traded fund (ETF) that tracks nearly 40 Canadian and American cannabis firms. The $436 million ETFMG Alternative Harvest ETF – which trades on the NYSE Arca under the ticker symbol MJ – has taken in around $22 million in August, putting it in a position to post its largest monthly inflow […]

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MJ Freeway slowdowns disrupt Pennsylvania medical cannabis retail sales

Some medical marijuana retailers in Pennsylvania were forced to suspend sales last week because of system slowdowns and errors in the MJ Freeway seed-to-sale tracking software that the state uses to keep tabs on the MMJ market. According to an MJ Freeway statement emailed to Marijuana Business Daily, the system did not go down Thursday, but a […]

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Denver awards second cannabis social-use license

As more U.S. and international adult-use cannabis markets consider allowing marijuana social-consumption spaces, Denver on Friday approved a social-use permit for Mile High Game and Play, which will do business as Vape and Play. It’s the second social-use permit issued in Colorado’s capital city. The entertainment facility will have a multistation vape bar, patented and […]

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California decides against state-chartered banking for marijuana industry

California lawmakers shelved a plan that would have allowed private banks to handle the money being generated by the legal cannabis industry. The proposal was put on ice after a legislative analysis determined it would face significant obstacles, including a lack of protection for state banks from federal law enforcement, the Los Angeles Times reported. The […]

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Breaking down the big deal behind Constellation’s bet on cannabis and Wall Street’s involvement

Constellation Brands’ multibillion-dollar wager on Canopy Growth is huge – record setting even – but a much larger story is lighting up across the cannabis industry: Wall Street has arrived. Financial heavyweights Goldman Sachs and Bank of America Merrill Lynch are officially dabbling in the marijuana industry now, which is a move observers call a […]

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US ancillary cannabis company Kush Bottles expands into Canada

Another U.S. marijuana company is expanding into the Great White North. California-based Kush Bottles, a major provider of packaging, supplies, vaporizers and other accessories for the cannabis industry, announced it is launching Kush Supply, a subsidiary based in Toronto. This follows several other business forays by U.S. cannabis companies into Canada, including Oregon-based Cura Cannabis Solutions, […]

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Turning a marijuana pipe dream into a multimillion-dollar head shop: Q&A with Smoke Cartel CEO Darby Cox

In a Savannah, Georgia, warehouse, Smoke Cartel employees file through rows of vaporizers, dab rings and torches, hustling to fill online orders from head shops, dispensaries and consumers across the United States. It’s an operation that less than five years ago began as wishful thinking – launched from the living room of Smoke Cartel co-founders […]

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How Trump’s trade battles are affecting the marijuana industry

The Trump administration’s imposition of tariffs on China is expected to have a direct impact on several sectors of the marijuana industry – in particular, cannabis vaporizer companies. Others likely to be affected include: Cultivation operations that want to expand their greenhouse facilities. Growers that need to buy lighting equipment. Brands that purchase packaging from […]

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