Marijuana Business News

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Mon
17
Aug

The Silicon Valley of marijuana

Mark Morley looks out over 30 acres he owns east of Pueblo, Colorado, and imagines the future. On this blustery May afternoon, there’s little more than mud and puddles here, bordered by highway and railroad tracks and flanked by farm buildings and rolling hills. But by the end of September, if all goes well, he’ll be looking at a pungent green thicket, as 14,400 marijuana plants reach their full 8-foot height. It’s one of several major outdoor grows launching this summer in Pueblo County. Eventually, Morley plans to expand onto another 1,500 acres, investing in center-pivot irrigation, greenhouses and processing facilities able to handle 40,000 plants.

Sun
16
Aug

RI revenues from medical marijuana miss the mark

PROVIDENCE — It has been two years since Rhode Island launched its medical marijuana market and opened dispensaries around the state, but tax revenues haven’t been quite as high as state officials expected.

There are now three medical marijuana dispensaries — also known as compassion centers — selling marijuana to patients in Rhode Island, with the state collecting a 4 percent surcharge and a 7 percent sales tax on all their transactions. While revenues are increasing, some centers say they’re facing increasing competition from caregivers who can grow and sell medical marijuana without paying taxes to the state.

 

Sun
16
Aug

When pot and tech collide

What do you get when you combine pot and techies? (No, not a late night Doritos-driven coding session.) It's a whole new startup industry that's blossoming in Seattle.

The Emerald City is already known for being fertile ground for tech startups. With the growing recreational and medicinal cannabis industries getting off the ground, we're seeing the tech and marijuana markets colliding in new and very interesting ways.

Cy Scott is one of the co-founders of Leafly, a website that allows users to rate and review pot strains and dispensaries. Scott says the seed for Leafly was planted while he was working at Kelly Blue Book, a website that allows users to rate and review cars.

Sun
16
Aug

Multimillion dollar cannabis facility opens in Barry

Revolution Enterprises held its grand opening for its 20 million dollar, 75,000 square foot medical cannabis cultivation center and laboratory.

The state-of-the-art facility is located in Barry, Illinois and its mission is to advance the science of cannabis.

Revolution Cannabis Barry is one of two facilities managed in Illinois.

Inside the building, they will be researching new and effective medicines.

The center is expected to employ 70 to 75 people.

CEO of Revolution Enterprises, Tim McGraw, says the work done in the facility will provide medical help to many Illinoisians.

Sun
16
Aug

Washington Legal Cannabis Sales Tax Top $70M in Year One, So Why are People Going Out of Business?

Washington launched its second-in-the-nation legal marijuana market with just a handful of stores selling high-priced pot to long lines of customers. A year later, the state has about 160 shops open, tax revenues have soared past expectations and sales top $1.4 million per day.

Washington launched its second-in-the-nation legal marijuana market with just a handful of stores selling high-priced pot to long lines of customers. A year later, the state has about 160 shops open, tax revenues have soared past expectations and sales top $1.4 million per day. Washington legal cannabis sales tax topped $70M in year one, surpassing all estimates.

And who knows — the industry might even start making some money.

Sat
15
Aug

From seed to weed: Yolo Organic Botanicals celebrates first medical marijuana harvest

In Woodland, the signs of the harvest are everywhere — trucks hauling fruits of local labor, typically processing tomatoes, on Main Street and elsewhere.

It’s been an annual sight, but this month, a small group of growers just celebrated their first harvest, preparing medical marijuana for thousands of patients.

“This is really exciting,” said Robin Miller. “We have a lot to learn and there is a very steep learning curve, but the community really cares and they are coming together to make things happen.”

Sat
15
Aug

High times for marijuana packaging company

The legalized world of marijuana is big business. In California alone, sales reached $1.1 billion last year, according to a recent report from CBS News. Now with the medical marijuana sector legal in 23 states and Washington, D.C., entrepreneurs and companies are getting in on this lucrative "pot" of gold. Take for instance, Kush Bottles, the Los Angeles-based supplier of certified, child-resistant packaging, branded exit solutions and accessories for the cannabis industry, which was just recognized by Inc. 5000 list of Fastest Growing Companies in America.

Fri
14
Aug

EPA proposes stronger pesticide standards

The standards will include improved training and minimum age requirements for certified applicators.

Washington , D.C. – The U.S. Environmental Protection Agency (EPA) is proposing stronger standards for pesticide applicators who apply “restricted-use” pesticides. These pesticides are not available for purchase by the general public, require special handling and may only be applied by a certified applicator or someone working under his or her direct supervision.

Fri
14
Aug

Maryland Cannabis License Plans and Policies

Are you in the process of submitting an application for a Maryland medical cannabis licensed Grower, Dispensary or Processor? If this is you, sleep lightly you are not alone.

Fri
14
Aug

Cannabics Pharmaceuticals Inc. announces increasing sales of WanaCapsXR capsules in every region of Colorado

BETHESDA, Maryland, Aug. 13, 2015 /PRNewswire/ -- Cannabics Pharmaceuticals Inc. (OTCQB: CNBX) announced today that first reports from Colorado show that WanaCapsXR cannabis capsules are sold in every region of Colorado.

WanaCaps XR is the result of a partnership between Wana Brands and Cannabics Pharmaceuticals. "The reports from Colorado on increasing sales and returning satisfied customers is an indication to expand into key medical marijuana markets, including New York, Illinois, Washington, Oregon, California and Nevada, through licensing agreements with Wana Brands," said  Itamar Borochov, CEO of Cannabics Pharmaceuticals Inc.

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