MMJ Business Daily

Washington DC medical marijuana firm raises $3 million in financing

Holistic Industries, a medical marijuana company based in Washington DC, has raised $3 million from a pair of investment firms with ties to Florida’s MMJ industry.

Franklin Street, which has principals in Florida and Georgia, partnered with Full Moon Investments, a private fund adviser, to finance the deal, according to a news release.

The transaction was funded with $3 million in cash in exchange for convertible notes from two grower/processor licensees in Washington, DC.

According to the release, Full Moon – which provides capital and consulting services to medical and recreational cannabis businesses – has raised $37 million

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Washington DC medical marijuana firm raises $3 million in financing is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Medical cannabis in Canada gets kosher certification

Hydropothecary Corp., the sole licensed producer of medical cannabis in Quebec, said it has become the only business in Canada to offer certified kosher cannabis products – a move intended to expand the company’s potential customer base.

CEO Sebastien St-Louis told Marijuana Business Daily the move “addresses the needs of not only those who follow Jewish dietary law but also vegans, vegetarians and anyone interested in the providence of what they consume.”

The Gatineau-based company, traded as APH on the TSX Venture Exchange, said Ottawa Vaad HaKashrut certified its processed medical marijuana products as kosher, a designation given

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Medical cannabis in Canada gets kosher certification is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Hawaii’s two medical marijuana dispensaries off to fast start

Hawaii’s two operational medical marijuana dispensaries have done brisk business since sales began in August, and the industry’s momentum will likely build in the wake of recent developments.

Maui Grown Therapies and Oahu’s Aloha Green combined for more than $426,000 in sales since opening on consecutive days last month, according to Pacific Business News, citing the Honolulu Star-Advertiser. Between them, the two dispensaries sold 57 pounds of flower through Sept. 19, according to the reports.

Health department officials told a legislative oversight committee the average price per gram was $16.45, while patients bought an average of 3.3 grams

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Hawaii’s two medical marijuana dispensaries off to fast start is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

First 24/7 recreational cannabis store in Las Vegas gets approval

Las Vegas now has a 24/7 recreational marijuana shop.

Oasis Cannabis, which is near the Strip, has been approved by the City Council to stay open all day and night, the Las Vegas Review-Journal reported. Previously, Las Vegas marijuana retail stores were required to close from 3 a.m. to 6 a.m.

Oasis’ owner told the newspaper he plans to have his shop – which sells both adult-use and medical cannabis – open round the clock as soon as Friday.

The retail store isn’t the first 24/7 shop in the area, however. North Las Vegas allows

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First 24/7 recreational cannabis store in Las Vegas gets approval is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Ontario mulls pricing recreational marijuana at CA$10 per gram

The Ontario government is considering setting the retail price of recreational marijuana at around 10 Canadian dollars per gram ($8.10) come legalization next summer, raising the question of whether the price will be low enough to deter consumers from going to the black market for cheaper product.

Experts are warning provinces to keep their legal marijuana competitively priced if they hope to take a bite out of the black market, and CA$10 per gram appears to be slightly higher than what consumers have been paying for illicit cannabis, which the Parliamentary Budget Office estimated to be CA$8.64 per

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Ontario mulls pricing recreational marijuana at CA$10 per gram is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Week in Review: Florida’s new MMJ rules, Weedmaps joins Boston Chamber & SC hemp applications

By Bart Schaneman, Omar Sacirbey and Kristen Nichols

Florida sets new regulations for medical marijuana business license applicants, cannabis tech company Weedmaps joins Boston’s Chamber of Commerce, and South Carolina’s hemp application deadline approaches.

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

On the right track

Florida’s new medical marijuana regulations are a move in the right direction for expansion of the state’s MMJ market, according to one industry analyst.

“The department appears to have taken a number of steps to alleviate some of the pretty significant problems that

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Week in Review: Florida’s new MMJ rules, Weedmaps joins Boston Chamber & SC hemp applications is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Ontario slams door on dispensaries, but marijuana lounges see glimmer of hope

By Matt Lamers

After the Ontario government slammed the door on marijuana retail entrepreneurs, the province left the door open — ever so slightly — for the eventual licensing of cannabis-consumption lounges.

Ontario’s cannabis legalization framework, released earlier this month, called for government-run stores, the shuttering of existing dispensaries and a limit on consumption to inside private homes.

But the province included the possibility that lounges could have a legal future in Ontario, though probably not in time for the planned launch of adult-use sales next July.

If approved, the lounges would open a new line of business

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Ontario slams door on dispensaries, but marijuana lounges see glimmer of hope is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Lab vies for Arkansas medical cannabis testing contract

At least one laboratory is throwing its hat in the ring to test medical marijuana in Arkansas.

And with more than 300 applications submitted so far for the state’s five cultivation and 32 dispensary licenses, the MMJ program is starting to take shape.

According to KATV, Little Rock-based Marygold Laboratories is planning to spend $1.1 million to enter the cannabis testing space. Marygold, a craft beer-testing lab, would check marijuana for potency – THC and CBD levels – as well as moisture and contaminants.

The lab is holding out for International Organization

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Lab vies for Arkansas medical cannabis testing contract is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

California plans to issue temporary marijuana business licenses

As part of the transition to a newly regulated market, California marijuana regulators will hand out temporary business licenses to existing companies starting Jan. 1.

Lori Ajax, chief of the state’s Bureau of Cannabis Control, made the announcement Thursday at the California Cannabis Business Conference in Anaheim.

To qualify for a temporary permit, businesses will be required to submit some cursory information, such as contact info, the type of business and a diagram of the company’s layout.

A potential issue, however, could be a requirement for some type of formal notice that the business has already been

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California plans to issue temporary marijuana business licenses is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

California plans to issue temporary marijuana business licenses

As part of the transition to a newly regulated market, California marijuana regulators will hand out temporary business licenses to existing companies starting Jan. 1.

Lori Ajax, chief of the state’s Bureau of Cannabis Control, made the announcement Thursday at the California Cannabis Business Conference in Anaheim.

To qualify for a temporary permit, businesses will be required to submit some cursory information, such as contact info, the type of business and a diagram of the company’s layout.

A potential issue, however, could be a requirement for some type of formal notice that the business has already been

…

California plans to issue temporary marijuana business licenses is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs