A publicly traded U.S. tobacco company has bought controlling stakes in two Canadian marijuana producers and invested in a North Carolina hemp grower, making what is believed to be the first foray by a significant tobacco business into the cannabis industry. Alliance One International, which trades on the New York Stock Exchange under the ticker […]Read More
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Problems with the rollout of Washington state’s new marijuana traceability system have cost producers tens of thousands of dollars in lost sales and contributed to dwindling cannabis inventories among retailers. At issue is problems with Denver-based MJ Freeway’s Leaf Data Systems, the state’s new vendor for seed-to-sale tracking. Producer/processors are experiencing several problems, including inability […]Read More
Far from the flashy marijuana dispensaries in Las Vegas, hemp farms in rural northern and southern Nevada can’t keep up with booming demand for flower for CBD production.
The result is a blazing-hot wholesale market for hemp flower, with growers reporting prices of up to $350 a pound for quality, high-CBD varieties.Read More
To bolster their bottom line and maintain a solid position in the market, stand-alone marijuana cultivators in Nevada, Colorado and Oregon that don’t possess retail licenses are pushing for the right to open stores or even sell cannabis directly to customers. As recreational marijuana supply increases and wholesale prices slide accordingly, stand-alone cultivators are feeling increasingly […]Read More
After a 40-month battle, a Colorado credit union that’s determined to serve marijuana-related companies has finally won conditional approval from the Federal Reserve to launch its business.
But the Fourth Corner Credit Union will not be serving plant-touching businesses – as it originally had planned to do – but will instead cater to advocacy groups, charities and ancillary companies such as accountants.
The Federal Reserve Bank of Kansas City informed The Fourth Corner Credit Union in a Feb. 2 letter that it would “conditionally grant” the Denver financial institution a so-called master account.Read More
A husband and wife who held key positions at a Colorado credit union that serves marijuana companies have filed a lawsuit claiming they were fired in part because one of them witnessed the company’s high-profile CEO using cocaine on several occasions, Marijuana Business Daily has learned. The wrongful termination suit lists Partner Colorado Credit Union, its CEO […]Read More
Steady growth has characterized Arizona’s medical marijuana program over the past few years, and 2017 was no exception as the state reinforced its position as one of the nation’s largest MMJ markets.Read More
Scotts Miracle-Gro says California’s slow implementation of marijuana regulations is hurting sales, Arizona considers medical cannabis testing, and Maine’s governor delays MMJ regulations. Here’s a closer look at some notable developments in the marijuana industry over the past week. Scotts’ sales decline Scotts Miracle-Gro CEO James Hagedorn said California’s slow rollout of regulations has hindered […]Read More
Rob Kampia, the embattled former chief of the Marijuana Policy Project, was removed from the board of directors of the National Cannabis Industry Association this week, Marijuana Business Daily has learned. Kampia’s ouster adds to recent turmoil at the NCIA and raises questions about the organization’s future. “NCIA’s Board of Directors voted to remove Rob […]Read More
If hemp fiber is so strong and easy to grow, why is so much of it moldering in barns awaiting a buyer? Two hemp companies say they have the answer, and they plan to bring it to farmers who can’t find buyers for hemp’s tough stalks. HempLogic in Washington state and Power Zone Agriculture in […]Read More
Montana’s medical marijuana businesses aren’t sitting on their hands.
In fact, it’s quite the opposite.
As 600-plus registered caregivers wait for state regulators to finalize industry regulations that were expected last June, many have taken steps to open dispensaries or even expand into retail chains for the first time.Read More