Ancillary Marijuana Companies News

Marijuana publication High Times buys Dope Magazine for $11.2 million

California-based cannabis culture publication High Times has acquired Dope Media, the Seattle-based publisher of Dope Magazine, for $11.2 million in cash and stock. The deal adds to the High Times portfolio of cannabis publications, which includes the online news website Green Rush Daily and Culture Magazine. The transaction also comes as High Times’ parent, High […]

Read More

Cannabis company Leafly removes CEO over company management ‘concerns’

Leafly, the popular online marijuana strain and dispensary guide for consumers, removed Chris Jeffery as CEO less than a year after he was hired by the Seattle company. Privateer Holdings, the Seattle-based private equity firm that acquired Leafly in 2011, confirmed to Marijuana Business Daily that Jeffery was out. According to a statement emailed to MJBizDaily from Privateer […]

Read More

Build it and they will come? Cannabis entrepreneurs wager big bucks on social consumption venues

Applicants for marijuana social consumption licenses across the United States are betting that consumers will want to patronize a public venue where they can consume cannabis with other users.

Entrepreneurs who pursue this new niche sector are likely to wager hundreds of thousands of dollars to get their businesses off the ground, according to industry executives.

Read More

Parent firm of marijuana mag High Times raises $5M, extends cutoff for $50M goal

The parent of California-based cannabis culture magazine High Times raised more than $5 million in its effort to go public, but that’s still short of the $17.2 million it needs to be listed on the Nasdaq and far from the $50 million it set out to raise. High Times Holding extended its fundraising deadline by more than a month to allow for more investment.

Read More

Canada’s commercial marijuana insurance market gets big backers

Two multinational insurance companies have given the green light to underwriting cannabis-related businesses in Canada, allowing companies in the burgeoning sector to grow their operations while reducing risks and liabilities. Lloyd’s of London and Hub International both announced plans to enter the cannabis industry in Canada. In a bulletin, Lloyd’s said it would offer insurance […]

Read More

Jimmy Buffett teams with Wrigley heir to license brand to Florida cannabis firm

Popular singer/songwriter Jimmy Buffett is joining a growing list of celebrities who dabble in the marijuana industry, teaming with an heir from the Wrigley chewing gum family. Buffett – known for his hit “Margaritaville” and his Parrothead fans – will license his Coral Reefer brand to Georgia-based Surterra Holdings for a line of marijuana products that […]

Read More

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 […]

Read More

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 […]

Read More

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.

Read More

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 […]

Read More