Ancillary Marijuana Companies

News on Ancillary Products & Services

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

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 patient data.

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Denver businesses losing interest in onsite cannabis consumption

Nearly all the businesses that had expressed interest in taking advantage of a new voter-approved initiative to allow onsite cannabis consumption say the initial regulations governing the issue are too burdensome. And that means the city’s social use plan may be for naught. One of the campaign directors for Denver’s Initiative 300, which city voters approved […]

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Analysts: High Times sale could buoy cannabis industry

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.

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California commissioner to insurers: Serve marijuana firms

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 state at which he […]

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Washington state gives Franwell initial OK for seed-to-sale contract

Washington state has tentatively picked Franwell to replace the state’s marijuana seed-to-sale tracking system, paving the way for both parties to hammer out a final contract covering one of the nation’s largest MJ markets. The contract has been given an initial value of about $3 million. Franwell would replace the provider of the state’s current seed-to-sale system, BioTrackTHC. […]

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

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 Company (HTHC), according to a news release. Adam Levin, founder of the L.A. investment firm Orvea Capital, will serve as the interim CEO and chairman until a permanent chief executive is brought on.

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Prominent VC firm backs cannabis breathalyzer startup

A Silicon Valley venture capital firm with a successful track record in the tech industry announced that it’s throwing considerable finances behind a California startup that’s aiming to bring a marijuana breathalyzer to market. Benchmark Capital – which previously funded successful startups including Dropbox, Uber and Snap – is leading a new $8.1 million round […]

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Nevada now accepting early start marijuana business applications

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 the temporary licenses started […]

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

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 feet. Based in San […]

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BioTrackTHC wins Delaware medical marijuana tech contract

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 […]

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Marijuana Business Daily President George Jage departs company

George Jage, the president and publisher of Marijuana Business Daily since 2014, has parted ways with the company for undisclosed reasons. The position will not be filled, but the company plans to make key strategic hires in other areas, said Cassandra Farrington, Marijuana Business Daily’s co-founder and CEO.  Farrington declined to publicly discuss specifics of Jage’s departure. […]

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Marijuana tech company MJ Freeway nets $3M in financing

A day after winning Pennsylvania’s medical marijuana seed-to-sale tracking contract, MJ Freeway said Friday it has received $3 million in Series B extension financing. The financing – which comes from existing investors Tao Capital Partners, based in San Francisco, and venture capitalist Roger McNamee – brings to $11 million the amount of money Denver-based MJ […]

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