INDUSTRY NEWS

Featured Sources

Canadian firm to manage, but not buy, Florida MMJ company

Although a proposed deal for a Canadian medical marijuana company to purchase one of Florida’s MMJ licensees apparently has fallen through, another deal has taken its place.

DFMMJ Investment LLC, which is owned by Liberty Health Sciences, will take over management of Florida’s Chestnut Hill Tree Farm, one of the state’s seven licensed medical cannabis producers under Florida’s current CBD-focused program. And Aphria, the Canadian MMJ producer that tried to buy Chestnut Hill, is the primary investor in Liberty, according to the News Service of Florida.

Under the terms

Canadian firm to manage, but not buy, Florida MMJ company is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Read More

New rules in store for Washington state cannabis businesses

New rules in Washington state will allow existing marijuana retail license holders to increase their number of sales outlets to five from three.

According to the Denver Post, that and other changes to the state’s medical and recreational cannabis program result from Gov. Jay Inslee signing an omnibus bill, Senate Bill 5131.

The Post reported that under the new regulations:

  • Businesses that are approved for a license but fail to open a store within two years may have to surrender their permits.
  • The state regulator must receive consent from a tribe associated with

New rules in store for Washington state cannabis businesses is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Read More

Judge recommends Florida issue two new medical marijuana licenses

A Florida judge issued a ruling recommending that the state’s health department issue two new licenses for the state’s CBD-focused medical marijuana program, saying the pair’s original applications were rejected under unfair circumstances.

The judge said the two companies’ applications were, in fact, virtually tied with that of the eventual winner. The recommendation would raise the number of licensees in the state from seven to nine.

Administrative Law Judge John Van Laningham said the Florida Department of Health should have awarded licenses to Tornello Landscape, also known as 3 Boys, and Plants of Ruskin when they

Judge recommends Florida issue two new medical marijuana licenses is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Read More

Vermont governor vetoes recreational cannabis use bill

Vermont Gov. Phil Scott vetoed legislation Wednesday that would have legalized consumption and home cultivation of recreational marijuana, dashing hopes the state would be the first in the nation to approve adult-use cannabis through the Legislature.

But Scott, a Republican, left the door open for compromise legislation that lawmakers could stitch together over the summer.

The vetoed bill, approved earlier this month by lawmakers, could have paved the way for a regulated commercial market in Vermont.

By rejecting the legislation, Scott set back efforts to make Vermont the third New England state to approve recreational marijuana, after

Vermont governor vetoes recreational cannabis use bill is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Read More

Oregon marijuana regulations about to undergo major changes

With the expected signing of a bill moving medical marijuana under the purview of the regulatory agency that oversees recreational cannabis, Oregon MMJ growers and processors could soon have direct access to the burgeoning adult-use market.

According to The (Bend) Bulletin, Senate Bill 1057 authorizes the Oregon Liquor Control Commission to:

  • Begin permitting MMJ growers and processors so they can sell to rec retailers.
  • Require medical businesses to start using the state’s inventory tracking system.
  • Increase the number of plants medical growers are legally allowed to cultivate.

The bill would also grant power to

Oregon marijuana regulations about to undergo major changes is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Read More

A $200M day: Two investors reveal big plans to fund marijuana businesses

By Bart Schaneman

A California retail estate investment firm and a wealthy Florida medical marijuana advocate separately pledged Tuesday to pump $100 million each into cannabis businesses, marking a notable new chapter in the MJ industry.

The combined $200 million is among the largest amounts of planned cannabis investments disclosed in a single day.

Moreover, the investment plans were unveiled at opposite ends of the country, signaling growing investor interest in marijuana businesses from coast to coast.

In California, a new MJ subsidiary of an established Beverly Hills real estate investment firm announced plans to spend $100 million on California’s

A $200M day: Two investors reveal big plans to fund marijuana businesses is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Read More

Prominent VC firm backs cannabis breathalyzer startup

A Silicon Valley venture capital firm with a successful track record in the tech industry announced that it’s throwing considerable finances behind a California startup that’s aiming to bring a marijuana breathalyzer to market.

Benchmark Capital – which previously funded successful startups including Dropbox, Uber and Snap – is leading a new $8.1 million round of fundraising for Oakland-based Hound Labs, according to Business Insider.

Clinical trials of Hound Labs’ new breathalyzer began earlier this month at San Francisco General Hospital, and the company is hoping the product will take off among law enforcement agencies and

Prominent VC firm backs cannabis breathalyzer startup is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Read More

Florida marijuana advocate Morgan poised to invest $100M in industry

Florida marijuana advocate and wealthy attorney John Morgan said he’s ready to invest $100 million of his own money in the cannabis industry.

Presented “the right opportunities,” Morgan said, it’s time to sink a sizable amount of cash into the market, the Miami Herald reported.

He has been one of the strongest voices in the state of Florida for legalization. He spent a total of about $7.5 million of his own money on last fall’s successful medical marijuana initiative as well as a failed 2014 ballot measure.

Morgan’s now pushing for a special session in the Florida

Florida marijuana advocate Morgan poised to invest $100M in industry is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Read More

California company plans to invest $100 million in cannabis sector

StarGreen Capital – a new subsidiary of a Southern California-based real estate investment firm – said Tuesday it plans to invest $100 million in California’s medical and recreational marijuana industries over the next year.

StarGreen Capital, a unit of Beverly Hills-based Starpoint Properties, said in a news release it will focus initially on working with cultivators, manufacturers and retailers. The company’s plan: buy, develop and lease real estate, expand operations and build cannabis consumer brands.

“We see tremendous opportunities for growth in the next 12 months,” Paul Daneshrad, CEO of both StarGreen and StarPoint, said in in the news release.

California company plans to invest $100 million in cannabis sector is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Read More