Ancillary Marijuana Companies

Company behind MJBizDaily in legal dispute with former exec

Chris Walsh  | June 28, 2017

The parent company of Marijuana Business Daily is involved in a legal dispute with its former president and publisher over several employment-related issues, including those tied to his termination, compensation and noncompete agreement.

Rhode Island-based Anne Holland Ventures recently filed a lawsuit in Denver County District Court alleging that George Jage violated the terms of his …

Cannabis firm’s exposure from Dennis Rodman trip hailed as ‘truly genius’ marketing

John Schroyer  | June 28, 2017

By John Schroyer

Ancillary cannabis firm PotCoin grabbed national media attention in mid-June when it sponsored former NBA star Dennis Rodman's highly publicized trip to North Korea.

The coverage was considered a coup as major mainstream outlets such as CNN, The Washington Post and Business Insider picked up the story.

MJ Freeway experiences second security breach in 2017, calls it ‘a theft’

John Schroyer  | June 20, 2017

By John Schroyer

Denver-based MJ Freeway, one of the more prominent software firms in the cannabis sector, has suffered a cybersecurity breach for the second time in six months.

The company said some of its source code information was posted illegally online last week.

MJ Freeway officials are calling it "a theft" but said the breach won't impact customer or …

Analysts: High Times sale could buoy cannabis industry

Omar Sacirbey  | June 15, 2017

By Omar Sacirbey

The marijuana industry can expect higher valuations, more capital injections and increased merger and acquisition activity after the sale of High Times and the iconic magazine's Cannabis Cup.

That’s the assessment of analysts following the deal, in which investors paid $42 million for a 60% stake in the company.

California commissioner to insurers: Serve marijuana firms

Omar Sacirbey  | June 5, 2017

California’s insurance commissioner is calling on insurance companies to provide coverage to cannabis firms in the state.

Commissioner Dave Jones’ efforts are notable given that insurance would be mandatory for cannabis businesses under proposed rules drafted by California regulators.

Jones is conducting a series of meetings with major insurance carriers in the …

Investors buy High Times, Cannabis Cup in $42M deal

John Schroyer  | June 1, 2017

A group of investors led by a Los Angeles investment firm have purchased a controlling stake in the oldest cannabis-centric magazine in the United States, High Times - along with its signature event, the Cannabis Cup - in a transaction valued at about $42 million.

The new owners have rebranded the company as High Times Holding …

Nevada now accepting early start marijuana business applications

Omar Sacirbey  | May 16, 2017

Nevada’s Department of Taxation has begun accepting applications from existing medical marijuana businesses interested in selling recreational MJ under the state’s “early start” program.

Existing medical cannabis cultivators, processors and retailers that are in good standing with the state are eligible to apply for the early launch of rec sales.

The application period for …

Marijuana REIT to invest up to $15M in Maryland cultivation site

Bart Schaneman  | May 5, 2017

Innovative Industrial Properties, a cannabis-focused real estate investment trust (REIT), said it has agreed to purchase a partially developed property in Capitol Heights, Maryland, and plans to invest up to $15 million in a medical cannabis cultivation facility there.

The building on the site, once completed, is expected to total about 72,000 square …

BioTrackTHC wins Delaware medical marijuana tech contract

John Schroyer  | May 4, 2017

Florida-based BioTrackTHC has won a state contract with the Delaware Department of Health and Social Services to implement a seed-to-sale inventory tracking system, as it has already done in several other states.

The contract was executed on Tuesday, according to a news release from BioTrackTHC, and a spokesperson for the Delaware agency said: “We are …