Marijuana Business News

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Fri
05
Jun

Alaska: Marijuana Control Board applicants vie for 5 open seats

More than 100 Alaskans are vying for a spot on the Marijuana Control Board, Alaska’s new regulatory body that will craft the state’s marijuana regulations, according to documents released by the state. Among the list of applicants are marijuana initiative supporters, business owners, a few people who spoke out against the initiative, and the attorney who represented the famous "Bong Hits 4 Jesus" case. 

Fri
05
Jun

How legal marijuana biz is boosting Denver's housing market

Denver’s housing market is on fire. Home prices have shot up by double-digits, inventory has fallen dramatically and multiple offers with bidding wars have become common.

One factor driving the demand: pot. The budding industry has impacted home prices since the state legalized marijuana in 2012.

“There has been a huge bump in real estate prices due to the legalization of marijuana,” according to James Paine, managing partner at West Realty Advisors. “It’s massively pushed up raw land and industry prices.”

In March, Denver experienced the second-largest jump in annual home prices at 10%, just behind San Francisco, according to the S&P/Case-Shiller Home Price Index.

Fri
05
Jun

Marijuana Users Frequently Considered Non-Smokers By Life Insurers

Time was when most life insurers had no underwriting policy regarding an applicant’s use of marijuana. But that’s no longer the case.

According to a survey by Munich American Reassurance, 29 percent of life insurers with an underwriting policy in place classify marijuana users as non-smokers. The survey is based on on-site interviews of nearly 150 underwriters. They were attending the April annual meeting of the Association of Home Office Underwriters in Washington, D.C.

Of the life carriers represented in the survey, just one in five have no official underwriting policy in place for marijuana users, according to the Atlanta business unit of Munich Re.

Fri
05
Jun

Rescheduling Marijuana is not a Magic Bullet

Some people are asking if President Obama will reschedule marijuana before he leaves office, and whether the marijuana reform movement should make rescheduling a major priority.

Although rescheduling would be huge politically – the federal government finally admitting marijuana has medical value – rescheduling wouldn’t actually help patients in the short term, and might do more harm than good if it distracts from real reform.

Marijuana is currently in Schedule I, the classification for drugs that are supposedly highly addictive and have no medical value. While marijuana certainly does not belong in this category, simply rescheduling it would not make it available for medical use.

Fri
05
Jun

Medical marijuana license deadline Friday

ALBANY — Prospective medical marijuana companies must submit by Friday their applications for one of five state licenses to grow and sell the drug.

The close of the application period moves the state one step closer to getting its new medical marijuana program off the ground by the January target date. Licenses are expected to be doled out later this summer.

Dozens of companies are expected to file applications with the state.

On Thursday, Empire State Health Solutions, which wants to establish its growing operating in Perth, Fulton County, dropped off its roughly 5,800-page application a day early.

Three other companies have publicly expressed interest in establishing growing operations or dispensaries in the Capital Region.

Thu
04
Jun

Bidders line up for medical marijuana business

At least four Western New York groups are seeking permission to grow, process and dispense medical marijuana in New York State.

They include a pair of Cheektowaga eye surgeons, an Amherst dentist, a Niagara County tomato grower and a medical entrepreneur who has partnered with the founder of the Tanning Bed chain.

They’re among the 100 to 350 groups, if not more, expected to apply for the right to become medical marijuana providers, according to those who follow the industry. They face a Friday deadline to submit applications to the state Department of Health.

Daniel J. Humiston, founder of Tanning Bed, said the group he helped form, Alternative Medicine Associates, on Tuesday turned in “thousands and thousands” of pages in 10 banker boxes.

Thu
04
Jun

Equity Crowdfunding May Be Game Changer for Women Entrepreneurs

A new report from Ventureneer proposes that equity crowdfunding may be the variable needed for women entrepreneurs to break through barriers in starting and growing innovative companies.

Thu
04
Jun

Landlords told tenants growing cannabis could ruin properties as plants seized from them skyrockets

London was the cannabis farm of Britain with Birmingham second worst for homegrown weed and Greater Manchester third.

Landlords are being warned not to let their properties go to pot after cannabis seizures in rented homes rocketed by up to 195%.

According to research, police raids across the country resulted in 456,911 plants confiscated last year with one in three forces reporting a 40% rise in homegrown weed.

While London was the cannabis farm of Britain with 59,002 plants removed from houses and flats, outside the capital Birmingham had the second worst record with West Midlands police seizing 52,218 plants and Greater Manchester carting 33,547 away.

Thu
04
Jun

Company leasing space for medical marijuana dispensary in Downtown Brooklyn

A Long Island company vying for a state license to distribute medical marijuana has leased space in Downtown Brooklyn, Crain's first reported Thursday.

PalliaTech Inc., a producer of marijuana-based pain medications, is looking to move into the second floor of 425 Fulton St., between Pearl and Jay Streets, where it will take up 3,000 square feet of space.

Thu
04
Jun

Compassion club says they'll provide marijuana if necessary in Saskatoon

A Saskatoon advocate for medical marijuana wants to clear the air.

Mark Hauk is with the Saskatchewan Compassion Club. They plan to open a facility in Saskatoon. Hauk said his organization prefers to help people navigate the current system for legally obtaining medical marijuana. But, he said that system often leaves people who have perscriptions unable to obtain the drug. 

Hauk cited a number of ways the system can let people down, including wait lists, unavailability of specific strains and minumum order size requirements that can make patients unable to afford their medicine. 

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