Ancillary Marijuana Companies

California green lights surety bond program for state’s cannabis industry

California has approved its first insurer to provide surety bonds for marijuana businesses in the state. According to the Insurance Journal, Mayfield, Ohio-based Continental Heritage Insurance Co. has passed muster with the California Insurance Commission. Here’s what you need to know: Surety bonds are required for California applicants seeking licenses in most sectors of the cannabis […]

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Viridian: Investment money pouring into cannabis industry

Investors pumped $1.23 billion into the legal marijuana industry during the first five weeks of 2018, nearly matching the $1.29 billion in investments in all of 2016. The $1.23 billion is nearly 600% more than the $178 million invested in cannabis during the first five weeks of 2017, according to research by New York-based Viridian […]

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Mainstream magazine honors cannabis software company

LeafLink, an online inventory and ordering platform for the marijuana industry, has been chosen one of the “Top 10 Most Innovative Companies in Enterprise” by a traditional business publication. Fast Company‘s inclusion of LeafLink on its select list put the software firm in the company of such mainstream businesses as online retail giant Amazon, productivity […]

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Kush Bottles teams with Merida, snags $6 million investment

Kush Bottles, a California-based cannabis packaging company, has entered a partnership with a Maryland-based marijuana infrastructure fund that includes a $6 million investment. According to a news release, Merida Capital Partners’ equity investment in Kush Bottles (OTC: KSHB) is intended to assist the Santa Ana company as it expands its product line, creates more distribution channels […]

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Week in Review: Oregon’s cannabis oversupply, marijuana job growth & hemp lawsuit

Oregon’s top prosecutor says the state’s marijuana industry has an oversupply problem, cannabis job postings are soaring, and a lawsuit targets a Vermont hemp producer. Here’s a closer look at some notable developments in the marijuana industry over the past week. Oregon’s ‘bloody’ market Oregon U.S. Attorney Billy Williams called a meeting of key officials […]

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Washington state marijuana traceability glitches stem from MJ Freeway hack

A hack of MJ Freeway’s seed-to-sale tracking system led to Washington state’s recent problems with its marijuana traceability program, regulators told licensed marijuana businesses on Thursday. Peter Antolin, deputy director of the Washington State Liquor and Control Board, wrote in a letter to business owners – including cultivators, processors and retailers – that a “computer vulnerability” in MJ […]

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Oregon audit: Cannabis tracking system vulnerable to compromise

An audit of Oregon’s top marijuana regulatory agency found that the state’s marijuana tracking system lacked proper safeguards, making it easier for cannabis businesses to hide violations such as illegal sales. The findings come less than a week after Oregon’s top federal prosecutor said the state has a “formidable” problem with marijuana overproduction that winds up […]

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Hiccups with traceability system rollout costing Washington state cannabis producers thousands

Problems with the rollout of Washington state’s new marijuana traceability system have cost producers tens of thousands of dollars in lost sales and contributed to dwindling cannabis inventories among retailers. At issue is problems with Denver-based MJ Freeway’s Leaf Data Systems, the state’s new vendor for seed-to-sale tracking. Producer/processors are experiencing several problems, including inability […]

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Fourth Corner Credit Union gets conditional approval from Federal Reserve for marijuana-related banking

After a 40-month battle, a Colorado credit union that’s determined to serve marijuana-related companies has finally won conditional approval from the Federal Reserve to launch its business.

But the Fourth Corner Credit Union will not be serving plant-touching businesses – as it originally had planned to do – but will instead cater to advocacy groups, charities and ancillary companies such as accountants.

The Federal Reserve Bank of Kansas City informed The Fourth Corner Credit Union in a Feb. 2 letter that it would “conditionally grant” the Denver financial institution a so-called master account.

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Jane West steps down as Women Grow chair; Chanda Macias takes over

Jane West is stepping down as board chair of Women Grow, the well-known, for-profit venture she founded in 2014 to empower women in the marijuana industry by providing networking opportunities, mentoring and business support. Chanda Macias, a Washington DC dispensary owner, will take over the Women Grow’s reins, according to the Denver alt-weekly Westword. Macias is on the board of […]

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