california Archive

Big shift in store for Los Angeles medical cannabis businesses

John Schroyer  | August 24, 2016

By John Schroyer

Significant changes are on the way for Los Angeles’ sprawling, largely unregulated medical marijuana industry.

City lawmakers are expected to place a measure on the local ballot next year to reform existing rules and create a new regulatory framework for the MMJ industry.

Week in Review: Big legal victory, nervous credit union & unrequited love in MA

Omar Sacirbey and John Schroyer  | August 19, 2016

By Omar Sacirbey and John Schroyer

The marijuana industry scores a big legal victory, a credit union in Alaska gets cold feet, and a Massachusetts city nixes a controversial business deal with a medical cannabis dispensary.

Here’s a closer look at some notable developments in the marijuana industry over the past week.

Once High-Flying Barclays Banker Backs CA Cannabis Venture

Omar Sacirbey  | August 18, 2016

A once high-flying banker at Britain’s Barclays Plc plans to use his financial savvy to capitalize on California’s marijuana industry.

Richard Jenkins, one of Barclays’ highest paid bankers, is behind a California investment fund that has bought real estate to set up a marijuana business in his adopted home of California, Bloomberg reported.

Californians will vote on an …

Nevada AG Opposes California Doctor MMJ Recs

Omar Sacirbey  | August 1, 2016

Nevada’s attorney general delivered potentially bad news for at least some of the state’s medical marijuana dispensaries, suggesting that they should no longer be allowed to serve MMJ patients from California who only have a doctor’s recommendation to use the drug.

Attorney General Adam Laxalt penned his opinion on the matter in a letter to the …

CA dispensary promises court fight over $767K tax ruling

Omar Sacirbey  | July 29, 2016

A California district court has ruled that Medimarts dispensary in San Jose must pay the city $767,058 in taxes and late fees, but the owner says the municipality’s not getting a dime.

Medimarts president David Armstrong says his group is a collective where members are co-owners who don’t buy marijuana, but rather make an “equitable …

California Edibles Executive Faces Fraud Charges

Omar Sacirbey  | July 26, 2016

An investor in a prominent California edibles company is accusing the firm’s CEO of securities fraud and is seeking to invalidate his claim in the company.

The investor claims in the lawsuit, filed anonymously on July 18, that Robert Weakley, CEO of Altai, lied about his contributions to the company’s accounts and spent some …

Amid avalanche of hype, Desert Hot Springs medical cannabis industry faces challenges

Omar Sacirbey  | July 26, 2016

By Omar Sacirbey

Longtime cannabis entrepreneur Greta Carter made a big career decision recently: She sold her Seattle marijuana business, gave up her Washington State residency and moved to Desert Hot Springs, California.

“I thought I could get a much better return on the time and money in California than in Washington,” Carter said.

Week in Review: Florida CBD, cannabis legal battles & ominous clouds in AZ, MA

John Schroyer  | July 22, 2016

By John Schroyer and Omar Sacirbey

Florida’s long-awaited CBD industry approaches the launchpad, cannabis lawsuits make headlines, and recent polling numbers cast a dark cloud over recreational marijuana legalization in two states.

Here’s a closer look at some notable developments in the marijuana industry over the past week.

Cannabis cultivation leasing companies undergoing growth spurt

Omar Sacirbey  | July 20, 2016

By Omar Sacirbey

Prospective marijuana growers who lack the money to bankroll their own sites increasingly are turning to companies that specialize in leasing land to cannabis cultivators.

That has created a mini boom in the emerging real estate leasing business – and given cultivators a new avenue for launching their companies.

Major infused products co. Bhang loses arbitration battle

Omar Sacirbey  | July 19, 2016

A California arbitration panel has awarded an investment firm $1.875 million from a major infused-products and concentrates company, Bhang Chocolate.

The panel said Oakland-based Bhang breached an agreement it had with Mentor Capital in Ramona, California, “by failing to deliver” shares of stock to the investment firm, Mentor Capital said in a news …