Marijuana Business News

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Mon
05
Dec

Oregon: OHA temporarily changes marijuana testing standards


The Oregon Health Authority is temporarily relaxing its standards for testing marijuana products after reports that strict regulations were hurting the industry.

The new rules, which went into effect on December 2, will balance the cost of testing and public health protections, the OHA said.

Reports said the cost of testing under the rules that have been in effect since October 1 were putting strain on businesses because prices went up and supply went down.

The state has collected more than $40 million so far in taxes on marijuana products and 40% of that revenue goes to Oregon schools.

Mon
05
Dec

Why Are Feds Targeting High-End Pot Producers in California?

James Slatic isn't a drug dealer. The owner of Med-West Distributors in San Diego was a successful entrepreneur in California's legalized medical marijuana industry, refining cannabis extractions and providing them to nine local dispensaries. His business was housed in a 14,000-square-foot industrial property that the company owned and which the city had inspected; he says his workers had employer-matched 401(k) retirement accounts and health insurance, and that he spent thousands of dollars to have his products tested by a city-licensed lab.

Mon
05
Dec

South Africa's weed oil salesmen get ahead of themselves with medical marijuana products

While the use of dagga is illegal in South Africa‚ products containing the drug for medicinal purposes are starting to mushroom. But most of these are illegal‚ said the Medicines Control Council.

The Department of Health is working to have dagga legally recognised as a prescription drug under controlled circumstances and permits to cultivate and supply the drug are likely to be issued only in the first half of next year.

Medicine containing marijuana is still illegal in South Africa.

But some products are already on the market and the latest to go on sale in the country are Rick Simpson’s Oil and Charlotte’s Web‚ two organic solutions that contain THC‚ the psychoactive ingredient in dagga.

Fri
02
Dec

Calgary mother hopes to end stigma around cannabis with new retail store

Melinda Tobias doesn’t want you to call cannabis a drug.

Instead, the mother of four wants you to think of cannabis as a plant or a natural medicine as she has come to know it through her diagnosis with invasive cervical cancer on Jan. 8, 2015.

“When I got that diagnosis, I had about a two- to three-month waiting period while the tumour board reviewed my biopsy and came up with a treatment plan,” said Tobias.

Fri
02
Dec

Weed business set to be one of fastest growing job generators in US

Natalia Karoway is a trained herbalist, but the entrepreneur wants to expand her client offerings to include traditional cannabis treatments. So, she's hitting the books to beef up her resume at the Northeastern Institute of Cannabis in Natick, Massachusetts.

"I really wanted to have some experience with the plant, and learn how I could use it in products and topicals," the 35-year-old Karoway said. "I wanted to have the best medicine to offer to clients, and the best education I could." 

Fri
02
Dec

Cannabis Business Hype Is About to Go Up in Smoke

Why Trump’s White House (and market economics) could harsh the industry’s mellow.

Three weeks after the November election, 10,000 marijuana industry officials gathered in Las Vegas for the industry’s largest trade show, partying with celebrities like Jim Belushi to celebrate the promise of an industry poised to grow to $50 billion by 2026. After all, voters in eight states had just approved marijuana proposals, allowing either ­recreational pot sales or medical marijuana. California, which in 2018 will allow both recreational and medical uses, will soon become the largest weed market in the nation, accounting for an estimated $6 billion in 2018.

Fri
02
Dec

Tantalus Labs Receives British Columbia's First Water Licence for Cannabis

Tantalus Labs announces today that it has received the first Water License issued to a cannabis company in British Columbia. Furnished under the Water Sustainability Act (WSA), the license showcases Tantalus Labs' commitment to effective groundwater resource management and sustainably produced cannabis.

Tantalus Labs utilizes specialized sungrown cultivation technology, natural odour filtration, and an innovative rainwater collection and filtration system. The team is working to establish its facility, SunLab, as an industry leader in reducing the environmental impact of cannabis production.

SunLab was developed to provide plants with the purest natural inputs of water, nutrients, air, and sunlight, at the lowest environmental impact.

Fri
02
Dec

Edmonton: Leduc County to be home to 'world's largest' legal marijuana grow op

A medical marijuana supplier says it has broken ground in Leduc County, south of Edmonton, on what will be the world's largest legal pot grow operation.

"Our objectives are very clear: to build the largest production capacity, with the highest production quality and the lowest production cost," Steve Dobler, president of Aurora Cannabis Inc., said in a news release.

Aurora is building a 800,000-sq.-ft. production facility — larger than 16 football fields — on 30 acres of leased land in the county.

The company boasts "Aurora Sky" will be the largest, most advanced and most automated cannabis production facility in the world, capable of producing in excess of 100,000 kilograms of high quality marijuana per year.

Fri
02
Dec

Canada: Task force recommendations on marijuana legalization said to leave decisions on dispensaries to the provinces

Justin Trudeau’s task force to legalize marijuana has completed its report on the issue and said it will be released to the public sometime before Christmas.

While Vancouver dispensary operators anxiously wait to learn if they’ll be allowed to remain in business once a new legal framework takes effect, the National Post has published an article that claims to reveal some of what is contained in the document.

Fri
02
Dec

Marijuana realty business hits Wall Street with a whimper in downsized IPO

The first cannabis company on a major U.S. stock exchange failed to make a big splash in its Wall Street debut.

Innovative Industrial Properties (NYSE: IIPR) announced it sold 3.35 million shares at $20 per share, raising $67 million in its initial public offering, which had been delayed and downsized.

Shares opened at $20.25 but closed at $19.15 on Thursday for IIP, a San Diego, Calif.-based real estate investment trust for medical cannabis facilities.

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