Marijuana Business News

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Thu
02
Mar

Cannabis Is Producing Jobs, Revenue in States Where It’s Legal

The states that have legalized recreational marijuana — a multibillion-dollar business — don’t want to hear the federal government talk about a crackdown. Oregon Gov. Kate Brown says she wants Oregonians left alone to “grow these jobs.”

In Oregon alone, that’s roughly 12,500 jobs, said economist Beau Whitney of Portland, adding that he is making a conservative estimate. Oregon’s attorney general said she would be duty-bound to fight to protect the state’s cannabis industry.

Thu
02
Mar

Legal Cannabis Market Shows Strength

Based on the performance of the legal cannabis market over the last two years, it is arguably one of the fastest growing industries in the world. Regulated cannabis sales in North America totaled $6.9 billion in 2016, a 30 percent increase from 2015. Sales are projected to increase to $21.6 billion by the year 2021 representing a 26 percent compound annual growth rate, according to a report by Arcview Market Research. The market, due to successful legalization campaigns, is attracting entrepreneurs and businesses, expanding its reach across a wider spectrum. Vega Biofuels Inc. (OTC: VGPR), Hemp Inc. (OTC: HEMP), Cannasys Inc. (OTC: MJTK), Greengro Technologies Inc. (OTC: GRNH), Green Cures & Botanical Distribution Inc. (OTC: GRCU

Thu
02
Mar

CanniMed Therapeutics Inc. and PharmaChoice Enter into Canada’s First Exclusive Pharmacy Distribution Agreement for Medical Cannabis

CanniMed Therapeutics Inc. (TSX:CMED) (“CanniMed”) and PharmaChoice today signed a letter of intent to collaborate on pharmacist education and the distribution, sale and marketing of medical cannabis products.

This industry-leading collaboration will see CanniMed responsible for producing and delivering accredited pharmacy education programs to PharmaChoice pharmacists and pharmacy technicians across Canada. In addition, CanniMed and PharmaChoice intend to enter a definitive agreement for distribution of medical cannabis through PharmaChoice pharmacists in Canada upon completion of the first provincial legislation change that allows such distribution.

Wed
01
Mar

Medical Cannabis Company Ready to Expand in Maryland

Maryland's medical cannabis program is expected to be fully up and running later this year, and in the coming months, patients can register with the state.

But there's a series of issues that still need to be resolved, even as marijuana growers and dispensaries are getting ready to open for business.

Construction is moving fast at a 44,000-square-foot warehouse in Baltimore. Ted Rebholz, president of Temescal Wellness, gave 11 News an exclusive tour of their soon-to-be medical cannabis facility. For security reasons, 11 News agreed not to share the exact location.

Wed
01
Mar

Marley company raises financing for medical cannabis

Start-up company Stony Hill Corporation, led by Damian Marley, has raised US$750,000 (J$96 million) to finance its sale of cannabis products.

That's according to the company's first set of financials since its reorganisation, released late February. Stony Hill began as a furniture business.

Marley will lead the restructured operation as president and CEO, with a team of eight employees based in Los Angeles, California in the United States. Marley holds the most shares in the company at 21 per cent. Jamaican born Damian, 38, is a Grammy-winning reggae/dancehall star known for songs like Set up Shop. He's also the youngest offspring of reggae legend Bob Marley.

Wed
01
Mar

CW Analytical Laboratories Announces Validated Method for Pesticide Screening on Cannabis

After months of method development and validation with SCIEX Corporation, CW Analytical (CWAL), an ISO 17025 accredited Cannabis testing laboratory, today announced they will be reporting up to 55 toxic chemical residues at parts-per-billion levels using triple quadrupole mass spectrometry technology. 

Wed
01
Mar

Alaska Marijuana Tax Revenue Dropped in January

Alaska's marijuana tax revenues decreased in January as supply shortages caused many shops to shut down temporarily or reduce their hours.

Seventeen growers paid $107,500 in January taxes to the Department of Revenue's Tax Division, according to data from Kelly Mazzei, revenue audit supervisor.

Under Alaska law, growers pay the state's tax. Bud is taxed at $50 per ounce, and other parts of the plant, like the stems and leaves, are taxed at $15 per ounce. Payments are due at the end of the following month, so January's taxes were due at the end of February.

In January, 111 pounds of bud was sold, and 77 pounds were sold from other parts of the plant.

Wed
01
Mar

Marijuana Company With Alabama Roots Becomes Major National Pot Brand

In 2008, real estate developers Tripp Keber and Chuck Smith owned and operated an upscale RV resort just outside Gulf Shores with aspirations of building a national chain.

But the recession would see those dreams dashed, and in 2009 the business partners took a risk and diversified their investment portfolio in a new way by putting money into an up-and-coming cannabis company in Colorado.

Business was good, and they soon realized that legal pot was quickly becoming a booming industry. So in June 2010, they took the next step, incorporating a humble Denver-based cannabis start-up called Dixie Elixirs.

Wed
01
Mar

Greg Engel Appointed OrganiGram CEO, Denis Arsenault Steps up as Executive Chairman

Organigram Holdings Inc. (TSX VENTURE:OGI) (OTCQB:OGRMF) (the "Company") has appointed a medical marijuana, pharmaceutical, and biotechnology industry veteran as its new chief executive officer.

Greg Engel will assume his new role effective March 13, 2017. Mr. Engel succeeds Organigram's current CEO Denis Arsenault who is stepping up to the newly created executive chairman's position. Engel will also join the Board of Directors of Organigram, replacing Larry Rogers, who steps down from the Board, but remains an important part of the Senior Management team.

Wed
01
Mar

Colorado AG Wants Sessions to Look at State's Marijuana Industry Before Imposing Crackdown

Attorney General Jeff Sessions painted a grim vision of violence in America on Tuesday, telling state law enforcement officials that a recent uptick in killings threatens to undo decades of progress and suggesting police would be more effective if they were subjected to less federal scrutiny.

In his first major policy speech as attorney general, Sessions said his Justice Department would continue to prosecute officers for wrongdoing, but suggested federal civil rights investigations could hinder their effectiveness.

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