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Chart: Colorado marijuana sales off to start strong in 2017

By Eli McVey

Colorado’s marijuana industry – one of the most mature in the nation – continues to thrive, posting record-setting sales figures through the first two months of 2017.

Combined sales of medical and recreational marijuana in January and February 2017 totaled over $235 million, up 30% from the same period in 2016.

The increase is good news for marijuana businesses in Colorado, although it’s too soon to know if sales will continue at such a strong clip throughout the rest of 2017.

While MMJ sales are up slightly so far in 2017, sales of recreational marijuana

Chart: Colorado marijuana sales off to start strong in 2017 is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

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Marijuana tech company MJ Freeway nets $3M in financing

A day after winning Pennsylvania’s medical marijuana seed-to-sale tracking contract, MJ Freeway said Friday it has received $3 million in Series B extension financing.

The financing – which comes from existing investors Tao Capital Partners, based in San Francisco, and venture capitalist Roger McNamee – brings to $11 million the amount of money Denver-based MJ Freeway has raised in its Series B round, according to a news release.

The money will fund market expansion, the company said.

On Thursday,  the Pennsylvania Department of Health announced a five-year, $10 million deal in

Marijuana tech company MJ Freeway nets $3M in financing is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

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Oregon vineyard owners sue to halt nearby cannabis cultivation

Oregon vineyard owners in the heart of the state’s wine region filed a lawsuit asking a judge to ban a neighbor from cultivating marijuana, complaining that the smell of cannabis could drift over and taint their grapes.

The suit could foreshadow a larger issue: Will expanding cannabis cultivation, particularly in states such as California and Oregon, cause conflicts with the already-established wine industry?

The Oregonian reported that Momtazi Vineyard – in Yamhill County, southeast of Portland – is joined by vineyard owners Harihara and Parvathy Mahesh in the suit against Oregon resident Richard Wagner.

The Momtazi Vineyard claims it

Oregon vineyard owners sue to halt nearby cannabis cultivation is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

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Canadian medical marijuana grower Aphria lands CA$100M

Aphria, one of Canada’s largest licensed medical marijuana producers, announced it has secured 100 million Canadian dollars ($74 million) in financing.

The financing will be used mostly to expand Aphria’s production capacity, which “is expected to supply more than 75,000 (kilograms) of high-quality cannabis at one of the lowest costs in the industry,” CEO Vic Neufield said in the release.

According to the release, CA$75 million of the total funding comes from equity financing, while the remaining CA$25 million comes via a five-year term loan.

Aphria, based in Leemington Ontario, trades on the Toronto Stock Exchange under

Canadian medical marijuana grower Aphria lands CA$100M is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

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3 cannabis biz events named among top growing trade shows

Three marijuana business events have been named among the 50 fastest-growing trade shows in the United States, reflecting the cannabis industry’s rapid expansion and future potential.

The Fall Marijuana Business Conference & Expo ranked second nationally for growth in attendance and net square feet of paid exhibit space from 2015 to 2016, according to Trade Show Executive’s newly released “Fastest 50” list.

The event – hosted by Marijuana Business Daily each November in Las Vegas – also took the No. 4 spot for growth in number of exhibiting companies. Last year, MJBizCon ranked first in all three categories for growth

3 cannabis biz events named among top growing trade shows is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

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Week in Review: RI rec push slows, Gov. Brown’s cannabis plan faces pushback & China opportunity

By Omar Sacirbey, John Schroyer and Bart Schaneman

Adult-use legislation takes a hit in Rhode Island, California Gov. Jerry Brown’s proposal for cannabis regulation faces opposition, and a marijuana-related firm sets up shop in China.

Here’s a closer look at some notable developments in the marijuana industry over the past week.

Rhode Island rec resistance

Prospects for legalizing recreational marijuana in Rhode Island hit a speed bump this week after Gov. Gina Raimondo called on lawmakers to delay passing adult-use legislation this year. Instead, she asked the legislature to create a 15-member study commission to

Week in Review: RI rec push slows, Gov. Brown’s cannabis plan faces pushback & China opportunity is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

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Florida medical marijuana deal unlikely to allow smokable flower

Florida lawmakers are working out a compromise to implement a voter-approved constitutional amendment legalizing medical marijuana, and any deal is unlikely to allow smokable MMJ as a form of treatment.

Smokable medical cannabis would help attract patients to the program and in turn bolster revenue for the state’s MMJ industry.

But Sen. Rob Bradley, an MMJ proponent and bill sponsor, told The News Service of Florida smokable flower is off the table.

“There is agreement between the majority of the House and Senate that the smoking of cannabis is not an act that is consistent with a healthy life

Florida medical marijuana deal unlikely to allow smokable flower is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

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MJ Freeway wins Pennsylvania medical cannabis tracking deal

Embattled MJ Freeway received an important vote of confidence Thursday when the Pennsylvania Department of Health announced it chose the Denver tech company’s seed-to sale tracking software to keep tabs on the state’s new medical marijuana program.

Terms of the contract were not disclosed, and a DOH spokeswoman was not immediately available for comment.

But the deal is a shot in the arm for Denver-based MJ Freeway, given that Pennsylvania’s MMJ market is forecast to generate more than $100 million in annual sales a few years after it’s up and running.

It comes after MJ Freeway’s

MJ Freeway wins Pennsylvania medical cannabis tracking deal is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

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MJ Freeway wins Pennsylvania medical cannabis tracking deal

Embattled MJ Freeway received an important vote of confidence Thursday when the Pennsylvania Department of Health announced it chose the Denver tech company’s seed-to sale tracking software to keep tabs on the state’s new medical marijuana program.

Terms of the contract were not disclosed, and a DOH spokeswoman was not immediately available for comment.

But the deal is a shot in the arm for Denver-based MJ Freeway, given that Pennsylvania’s MMJ market is forecast to generate more than $100 million in annual sales a few years after it’s up and running.

It comes after MJ Freeway’s

MJ Freeway wins Pennsylvania medical cannabis tracking deal is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

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