To help expand its national footprint, multistate marijuana company Vireo Health International has hired Bruce Linton, one of the biggest names in the cannabis industry and former leader of Canada’s Canopy Growth until his surprise firing in the summer. It’s a high-profile hire for the U.S. cannabis industry, one that many executives and investors across […]
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Tight funding environment weighs on marijuana companies still seeking profit
Which came first? Poor paths to profitability for North American cannabis companies or limited funding for them to build their businesses? The reality: It’s a bit of both. Funding opportunities for marijuana firms do exist, but investors are increasingly unlikely to lend if cannabis companies cannot meet their revenue and profitability targets. Therefore, cannabis businesses trying to […]
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Over 400 California marijuana business licenses suspended, injecting fresh uncertainty into state’s cannabis industry
California has suspended more than nearly 400 marijuana business permits, temporarily paralyzing roughly 5% of the state’s legal cannabis supply chain ranging from retailers to distributors.
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Experts suggest recent marijuana industry layoffs are part of a reality check; more job cuts expected
Anyone paying attention to cannabis business headlines has noticed what on its face seems a disturbing trend: At least half a dozen large companies recently announced layoffs, perhaps suggesting there’s financial trouble surrounding the marijuana industry. But those headlines don’t reveal the full story, several industry watchers told Marijuana Business Daily. Rather, recent layoffs are a […]
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Chart: Year-to-date cannabis investment activity up 40% over 2018, but it’s slowing
Cannabis industry capital investment hit $10.4 billion through week 40 – a 40% increase over 2018 – but the previously hot investment activity has cooled in recent months.
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Offering consumers a face-to-face experience helps them remember a marijuana brand, experts advise
Whether it’s a cannabis-focused arts and music festival, a “garden party” or a tour that guides visitors from cultivation all the way to the sales floor, experts say that creating memories that stick with customers is among the most effective ways to build brand loyalty. In an industry constrained by regulations that limit cannabis advertising, […]
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Week in Review: USDA issues hemp rules, Mexican recreational cannabis vote delayed, spring rollout for Michigan’s rec market & more
The U.S. Department of Agriculture (USDA) unveils its hotly anticipated hemp regulations, Mexico’s bid to legalize recreational marijuana is delayed, sales of adult-use MJ in Michigan won’t begin until March or April at the earliest – and more of the week’s top cannabis business news. USDA rolls out hemp rules The USDA released 160 pages of […]
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Medicine Man Technologies looks beyond Colorado after nearly $300M buying spree
Medicine Man Technologies is undergoing a growth spurt of historic proportions, including visions for national and even international expansion that are a long way from the company’s humble beginnings. At the beginning of this year, the Denver-based company was largely a cannabis consulting company with annual revenues of less than $10 million. Now, after an […]
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L.A. Council president requests redo of retail marijuana licensing round, sending shockwaves through market
More confusion was added to the mix in Los Angeles this week over the city’s latest marijuana business licensing round after City Council President Herb Wesson called for the process to be redone, thus throwing into doubt the fate of 100 highly coveted cannabis retail licenses in the largest MJ market in the world. Some […]
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Maine cannabis retailers see spike in vaporizer sales after Massachusetts vape ban
Cannabis retailers in Maine are seeing a spike in sales of vape cartridges, likely a result of the ban on sales of vaping products in neighboring Massachusetts. The ban appears to have spurred Massachusetts cannabis consumers to trek north to purchase vape merchandise across the border, although it is illegal for people to take marijuana […]
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Chart: Recreational cannabis stores will be few and far between in Illinois
Recreational cannabis sales are set to begin in Illinois at the start of the new year, but a lack of retail stores threatens to curtail the rollout of what could eventually be a $2.5 billion market.
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