Marijuana Business News

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business
Thu
07
Apr

Facebookers, Reddit CEO make $2.1 million marijuana investment

A hot San Francisco marijuana startup, Meadow, has announced millions in funding from an eclectic local group of investors with connections to Facebook, Reddit and the 49ers.

SOMA tech company Meadow announced this morning it has received $2.1 million in seed funding today from a collection of investors including former Facebookers now at Slow Ventures, Reddit’s CEO and founder Steve Huffman, Joe Montana’s investment fund Liquid 2 Ventures, and Justin Kan, creator of Justin.TV and Twitch.

Thu
07
Apr

Washington: Marijuana screening considered game-changer for growers

Labs specializing in marijuana product safety testing are gearing up for a new July 1 requirement to test cannabis products for pesticides. The state Department of Health regulation will force licensed growers of medical marijuana to screen products before distribution. 

Confidence Analytics in Redmond now has the first known technology in Western Washington to conduct such tests. The machine cost the lab $500,000 and is a more precise screening technology able to detect pesticides in the parts per billion. 

Scientists believe the testing is so powerful it will give new insight into the chemical make-up of each strain and produce new and useful information for growers.

Thu
07
Apr

Canada: Marijuana 'happy hour' prices advertised at pot shop

A pot dispensary in Victoria is advertising discount medicinal marijuana on its sidewalk sandwich sign. 

"All it means is that at certain hours of the day, they can come in and get their medication  — edible or joint — for just a fraction cheaper," said Omar Manji, director of Remedy Medicinals in Victoria. 

"We are trying to dispense relief to our patients," he said.

Manji doesn't believe the stores 'happy hour' special sends the wrong message and says it is actually a popular business practice in California and Vancouver. 

The shop's website brands itself as 'Canada's premier medicinal marijuana dispensary' and even offers deals and prizes to users for mail orders. 

Thu
07
Apr

Pesto with a punch: Edible marijuana in Canada's future

Canada's infatuation with getting a legal high may soon lead straight to Mary Jean Dunsdon's Vancouver kitchen. The self-described diva of cooking with cannabis has been baking and selling intoxicating edibles for the better part of 20 years.

"I've easily sold 700,000 to one million cookies," she told CBC News recently in her kitchen.

To her customers, Dunsdon, best known by her nickname Watermelon, is a trusted brand.

Mary Jean Dunsdon's baked cannabis treats include rum balls, tarts, cookies, and other sweets.

"I've done it all: 'nice cream cones', marijuana bacon, I've made 'weedish meatballs'," she said.

Wed
06
Apr

Fondues And Fine Teas: Repositioning Pot For The Middle Classes

Imagine a world where most of the global adult population consume a gentle, natural, herbal drug every day that contains psychoactive compounds that relax and revive them. It is often consumed in a social ritual of bonding, conversation and empathy. And this is seen as quite unremarkable.

Wed
06
Apr

Biotech Breakup: What is the Impact on Biotech Stocks focused on Cannabis?

The termination of the $160 billion merger between Pfizer Inc. (PFE) and Allergan Plc (AGN) has been confirmed.

The driving factor behind this decision stems from the rules issued by the United States Treasury Department which are focused on making tax inversion deals less profitable.

Moving Addresses, Not Assets

President Obama said the rules are meant to limit one of the most indirect tax loopholes available and prevent companies from decreasing their tax liability.

The reason why this deal came under such scrutiny is not only due to the size of the deal, but also its structure.

Wed
06
Apr

Delay in Jamaican Ganja Licensing Process

The Cannabis Licensing Authority (CLA) did not start accepting applications on April 4, as it had initially indicated.

In a news release Tuesday, the CLA cited the recent change in government as the reason for the delay. They did not, however, indicate a new date for accepting applications, but said that they expect that before the end of the month, they will start reviewing applications.

“The transition to a new Government has caused some delays in our getting the regulations that had been developed approved,” CLA Chairman Dr Andre Gordon confirmed.

Wed
06
Apr

Oregon Rules for Marijuana Edibles Still Cooking

Candies, cookies and beverages infused with a low dose of cannabinoids, the active ingredients in marijuana, will not be available for recreational consumers for another month or two, the manager of the Oregon Medical Marijuana Program said Monday. 

Low-dose edibles became legal for recreational buyers aged 21 and over at medical marijuana dispensaries when Gov. Kate Brown signed Senate Bill 1511 last week. However, the Oregon Health Authority, which oversees the medical marijuana program, must first draw up temporary rules for those sales. A key provision is the definition of a low dose. 

The agency is drafting rules now, said André Ourso, manager of the Oregon Medical Marijuana Program, but they may not be ready until early summer. 

Wed
06
Apr

Connecticut: Colorado Lawmaker Talks Legal Marijuana At The Capitol

An architect of Colorado's recreational marijuana program came to the Capitol to give lawmakers a crash course on the sale, taxation and regulation of the drug.

"Marijuana is sometimes referred to as being hip or cool, by the time I am done with my presentation you will think anything but," said state Rep. Dan Pabon, a Democrat from Denver, before he launched into an hourlong, often technical discussion.

Wed
06
Apr

Marijuana Deliverer Meadow Rolls up $2.1M for Dispensary Sales Software

Meadow already lets you get a prescription for medical marijuana over video chat and order from a nearby shop that delivers. Now it wants to be the backbone of the weed business, too. Pot dispensaries can’t use standard point-of-sale or inventory software because they aren’t compliant with the industry’s strict regulations.

So over the last year, since graduating Y Combinator, Meadow has been raising a $2.1 million seed round on a rolling basis to build out specialized cannabis sales software. Today it announced the round is sealed, with participation from ex SV Angel David Lee, YC’s Justin Kan, Reddit’s Steve Huffman, Kissmetrics’ Hiten Shah, Slow Ventures, SOMA Capital and Poseidon Asset Management.

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