Marijuana Business News

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Thu
10
Nov

Here's how a Silicon Valley billionaire helped get marijuana fully legalized in California

Californians overwhelmingly said yes to recreational marijuana on Election Day.

Those in favor of the decision owe a big thanks to billionaire Silicon Valley fixture Sean Parker.

The former Facebook president and founder of Napster contributed $8.5 million to the effort to legalize recreational marijuana in California.

Parker has been radio silent regarding Proposition 64, though his dollars said otherwise.

Thu
10
Nov

Mentor Capital: Election Triples Recreational Cannabis Market

Mentor Capital reports that, following the election, overnight, the population in states where recreational cannabis use is legal increased from 17.6 million to 67.5 million. California, Massachusetts, Maine and Nevada joined Colorado, Alaska, Oregon, Washington and the District of Columbia as new safe havens for cannabis use by adults when in compliance with their respective state laws. This rising tide was further buttressed by the approval of medical marijuana use in Florida, North Dakota and Arkansas with a combined population of 22.6 million. 29 states now allow recreational cannabis or medical marijuana use covering the majority of the US population.

Thu
10
Nov

Marijuana Company Prepares to Cross State Lines, as Legally as Possible

Almost all small-business owners dream of the day when they can expand nationally. This has proved to be a unique challenge for those in the marijuana industry because the products they create are illegal under federal law, and the checkerboard of states that permit marijuana sales have complex and constantly changing regulations.

Dixie Brands, a company in Denver that creates drinks and other products using marijuana, is aiming to navigate those hurdles and become one of the first companies in the industry to build a national presence.

Thu
10
Nov

A investor's journey to embracing marijuana legalization

I’m a venture capitalist and a medical cannabis user.

The first time I tried medical cannabis, I had just tried to trigger a chronic condition that causes severe intestinal pain when I eat.

I was trying to force my doctor to prescribe painkillers for me. That night, I’d eaten an entire pizza to induce enough pain to get me on drugs. I wound up trying medical marijuana instead and it changed my perspective on the drug.

Growing up, I never imagined I would be here.

Thu
10
Nov

BC pot grower sees green as more states legalize marijuana

As California, Nevada, Maine and Massachusetts appear set to join the growing list of states that have legalized recreational pot, one of B.C.’s biggest medical marijuana producers is seeing big opportunities in the American market.

After there were several successful ballot initiatives south of the border this week, B.C. will soon be the only West Coast jurisdiction between the Bering Sea and Tijuana where toking up is still restricted to medical use. But the people behind Tilray, the federally licensed cannabis production facility on Vancouver Island, aren’t concerned about losing their edge to rivals south of the border when Canada eventually legalizes pot.

Thu
10
Nov

What to Know About Marijuana Legalization in California

When California voters approved Proposition 64 on Tuesday, the basic idea was simple: a majority of people in America’s most populous state believe that adults should be able to consume marijuana if they feel like it, like a glass of wine at 5 o’clock. But the details of the proposition, which stretches more than 60 pages, are complicated.

TIME spoke to Amanda Reiman, the Drug Policy Alliance’s manager of marijuana law and policy, to talk about what people should know.

What happened on Tuesday?

Wed
09
Nov

San Diego Company Bids to Become First Marijuana Business on NYSE

Innovative Industrial Properties could help investors grab a slice of real estate used for the growing of legal marijuana crops.

A newly formed California real estate company has filed paperwork for an IPO that would make it the first marijuana business publicly traded on the New York Stock Exchange.

Innovative Industrial Properties (IPP), formed in June 2016, operates in an area that could provide the best place to consider for investors interested in getting a piece of the growing marijuana industry: real estate.

Wed
09
Nov

Entertainment Execs Look to Back Cannabis Magazine

Former Live Nation Chairman Michael Cohl and legendary Hollywood insider Shep Gordon are negotiating to back a new cannabis media property called Civilized Worldwide, sources tell Media Ink.

Derek Riedle, chief executive of Civilized Worldwide, said it raised $1.5 million a year ago in seed capital and has about a dozen employees fast at work producing a digital magazine called Civilized.Life.

The company later this month will close a Series A round of funding that raised $3 million, he said.

Wed
09
Nov

Here's What a Trump Presidency Means for Marijuana

Will Donald Trump turn over a new leaf for the cannabis industry?

Arguably the oddest election of our times is now in the books. The voters have spoken, and the 45th president of the United States will be Donald Trump. This election was bound to be historic no matter who won, but it'll now be remembered as the point in history where Trump becomes the first person without any prior political or military background to ascend to the Oval Office.

Wed
09
Nov

Wurk Raises $1 Million to Help Cannabis Companies Manage Their People

A “pottech” company called Wurk has raised $1 million in seed funding to help cannabis businesses such as dispensaries or growers to comply with all the different regulations coming into play around the burgeoning, legal cannabis industry.

The seed deal closed before various ballots are voted on today in the U.S., that could make the sale and use of marijuana legal for adults in a broad number of new markets.

Wurk CEO Keegan Peterson said his company’s software-as-a-service helps cannabis businesses do everything from background checks of potential new hires, to managing employees’ schedules, benefits, training, and making sure they get paid on time.

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