Recreational marijuana sales in Colorado eclipsed $105 million in March 2018, the highest monthly total for adult-use sales in the program’s history. The record-breaking month is part of a broader, seasonal trend playing out in Colorado’s rec market, where sales have consistently spiked in early spring, midsummer and around holidays. Seasonal sales trends are common […]Read More
Pennsylvania approves eight universities to conduct medical marijuana research, a company spurned for a Louisiana license sues the state, and Ohio awards an additional MMJ permit.
Here’s a closer look at some notable developments in the cannabis industry over the past week.Read More
In a historic maneuver that signifies growing support in Washington DC for medical marijuana, a key congressional committee voted Thursday to continue to protect lawful state MMJ programs from federal interference or prosecution. The House Appropriations Committee approved, by a bipartisan voice vote, an amendment by Rep. David Joyce, an Ohio Republican and former prosecutor, […]Read More
Colorado is on the verge of opening its marijuana markets to an influx of fresh capital and investors. State lawmakers last week passed a bipartisan bill that would for the first time allow publicly traded companies to invest in or hold a medical or recreational marijuana license in the state, starting next January. The legislation, […]Read More
While a shortage of marijuana is expected to precede any glut by a number of years, the potential for cannabis commoditization is already a consideration for many licensed cultivators in Canada. Greg Engel, CEO of New Brunswick-based Organigram, said commoditization, at least as it relates to cannabis, boils down to two things: Excess supply over […]Read More
One of the biggest facilitators of marijuana deliveries in California faces a possible class-action lawsuit that one Bay Area attorney says could threaten the company’s existence. Farrah Williams, of San Diego, filed suit against San Francisco-based Eaze Solutions on May 2, alleging the delivery business violated federal law by spamming her and other customers with unsolicited text-message […]Read More
If 2016 signaled a high-water mark for state ballot initiatives to legalize cannabis, then this year portends a slow, but steady, flow. A medical marijuana measure will go before Oklahoma voters in June, and similar initiatives are poised to make the November ballots in Missouri and Utah. On the recreational side, an adult-use cannabis measure […]Read More
Consolidation continued in the cannabis industry Tuesday, with four major marijuana businesses from the United States and Canada merging to launch a multinational company with combined revenue forecast to total more than $200 million next year.
Operating under the name TILT Holdings, the new companies will include the combined operations of Baker Technologies, Sea Hunter, Briteside and Santa Veritas Therapeutics, according to a news release.Read More
Aurora Cannabis has agreed to acquire rival Canadian cannabis producer MedReleaf in a deal valued at $3.2 billion Canadian dollars ($2.5 billion) that would create the largest marijuana company in the world. The transaction, announced Monday, marks the largest deal inked in the cannabis sector to date, giving the combined company a footprint that will […]Read More
With revenue of $5.8 billion-$6.6 billion, sales of legal recreational and medical cannabis in the United States in 2017 topped those of Oreos and organic produce combined. The data – published in the newly released Marijuana Business Factbook – illustrates how quickly the legal U.S. marijuana industry has grown. It now rivals Americans’ collective spending on […]Read More
Canada’s market leader in medical marijuana has applied to trade its shares on the New York Stock Exchange, a move that would make it the first cannabis-producing company to list on the world’s largest stock market.
Smiths Falls, Ontario-based Canopy Growth said in a news release it expects its shares to begin trading on the NYSE “before the end of May” under the symbol CGC.Read More