New York governor proposes eliminating marijuana product potency taxes
(This story has been updated to reflect that Curaleaf Holdings has been approved to enter the New York adult-use market.) New York’s governor is proposing the elimination of the state’s potency tax on marijuana products, a potential win for the industry. Under...
Cannabis marketer, distributor Petalfast raises $8 million from family offices
Petalfast, a California-based cannabis sales, marketing and distribution company, raised roughly $8 million from investors, including private family offices. Privately held Petalfast did not reveal the terms of the financing or the identities of the investors....
Experts share their expectations for marijuana industry in 2024
From the next market to legalize adult-use marijuana to New York’s social equity licensing and low-dose THC, MJBizDaily left no stone unturned during its first installment of the 2024 LinkedIn Live series. ADVERTISEMENT Chris Casacchia, a veteran business journalist...
Ukraine might depend on cannabis imports for years before local production is ready
Local industry watchers say it could be years before domestic cannabis cultivation in Ukraine is up and running after Parliament gave the green light to a draft law that will lay the legal foundation for a medical marijuana industry. That might open the door to...
Michigan’s total marijuana sales reach $3 billion in 2023
Marijuana retailers in Michigan sold a whopping $3.06 billion in adult-use and medical products in 2023, according to data from the state’s Cannabis Regulatory Agency. That’s about $305 worth of cannabis products per person in the state, the highest per...
Cannabis prospectuses in Ontario fell dramatically in 2023, data shows
The number of prospectuses filed in Ontario by cannabis companies in connection with public offerings of securities declined dramatically in 2023 compared to previous years, according to new data from the Ontario Securities Commission. Experts say that largely stems...
Marijuana rescheduling doesn’t open door to Big Pharma takeover, report says
The Biden administration’s push to reclassify marijuana under federal law would not by itself open the door for pharmaceutical companies to seize control of the $34 billion legal U.S. cannabis industry. But moving marijuana from Schedule 1 to Schedule 3 – as has...
Wisconsin Assembly speaker rejects compromise on medical cannabis bill
Wisconsin State Assembly Speaker Robin Vos says he won’t amend a Republican bill that would create a restrictive medical cannabis regime, despite opposition from some fellow GOP lawmakers. “We have a very detailed bill that I am pretty sure has 50 votes in...
Marijuana operator Unrivaled Brands completes reorg, reverse stock split
California marijuana company Unrivaled Brands is now under the Blüm Holdings umbrella after completing a previously announced strategic reorganization and reverse stock split. The deal was designed to position the company for growth, according to a news release....
Panama awards licenses to 7 medical cannabis businesses
Seven companies in Panama were granted licenses to manufacture medical cannabis products after a lengthy evaluation by the country’s Dirección Nacional de Farmacia y Drogas, or the National Directorate of Pharmacy and Drugs. These are the first cannabis manufacturing...
Feds weighed state-regulated MMJ programs, compared marijuana to alcohol in rescheduling recommendation
State-regulated medical cannabis programs and illicit users are at least in part to thank for the Biden administration’s recommendation that marijuana be moved from Schedule 1 to Schedule 3 of the Controlled Substances Act. Federal health authorities who recommended...Featured
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