MMJ Business Daily

Ohio to begin taking medical cannabis dispensary applications

Ohio regulators will soon be taking applications for the 60 medical marijuana dispensary licenses up for grabs in the state.

Prospective dispensary owners will have a two-week window – Nov. 3-Nov. 17 – to submit their applications, The Columbus Dispatch reported.

Each applicant will pay a $5,000 fee. License winners will fork out a $70,000 operating fee every other year to own one of the 60 dispensaries, which are expected to begin selling medical cannabis in September 2018.

The Ohio Medical Marijuana Control currently is reviewing applications for the 24

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Ohio to begin taking medical cannabis dispensary applications is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Marijuana consumption bus firm trying to roll into new markets

A Denver-based company that operates buses on which marijuana consumption is allowed wants to expand its services to states such as California, Massachusetts and Nevada in 2018.

Loopr, which operates the so-called “Puff Buses,” is in talks with officials in Los Angeles and Las Vegas to bring the service to those cities, according to the Boston Herald. Recreational cannabis became legal in Nevada on July 1 and will become legal in California in January.

Loopr’s lobbying efforts aren’t as far along in Massachusetts – where the recreational program is

Marijuana consumption bus firm trying to roll into new markets is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

How to sell your marijuana business: Q&A with GRN Funds CEO Justin Costello

By Bart Schaneman

Valuating a cannabis business requires coming up with creative comparisons to established industries, such as tulips and wine.

That’s the space Justin Costello operates in. The CEO of Seattle-based GRN Funds, he brings years of experience making deals in the investment banking sector involving the cannabis industry. He’s also completed 80-plus cannabis deals.

He currently is brokering a $60 million-$70 million sale in which he’s packaging 12 marijuana companies in Washington state.

Costello recently spoke with Marijuana Business Daily about how he valuates cannabis businesses, which companies are easier to sell and deal structures to avoid.

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How to sell your marijuana business: Q&A with GRN Funds CEO Justin Costello is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

How to sell your marijuana business: Q&A with GRN Funds CEO Justin Costello

By Bart Schaneman

Valuating a cannabis business requires coming up with creative comparisons to established industries, such as tulips and wine.

That’s the space Justin Costello operates in. The CEO of Seattle-based GRN Funds, he brings years of experience making deals in the investment banking sector involving the cannabis industry. He’s also completed 80-plus cannabis deals.

He currently is brokering a $60 million-$70 million sale in which he’s packaging 12 marijuana companies in Washington state.

Costello recently spoke with Marijuana Business Daily about how he valuates cannabis businesses, which companies are easier to sell and deal structures to avoid.

…

How to sell your marijuana business: Q&A with GRN Funds CEO Justin Costello is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

MA holding company helps Israeli MMJ firm expand US reach

Medical marijuana research firm Tikun Olam has expanded its partnership with a canna-centric Massachusetts holding company that will eventually increase the Israeli business’ U.S. footprint to seven states.

Under its new agreement with Newton, Massachusetts-based holding company MariMed, Tikun Olam’s MMJ products will be grown, manufactured and sold in four states where MariMed has a presence – Illinois, Maryland, Massachusetts and Rhode Island.

The arrangement will begin in 2018, according to a joint news release.

Tikun Olam of Tel Aviv currently has products in Delaware and Nevada dispensaries and plans to move into the Washington state market in November.

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MA holding company helps Israeli MMJ firm expand US reach is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

MA holding company helps Israeli MMJ firm expand US reach

Medical marijuana research firm Tikun Olam has expanded its partnership with a canna-centric Massachusetts holding company that will eventually increase the Israeli business’ U.S. footprint to seven states.

Under its new agreement with Newton, Massachusetts-based holding company MariMed, Tikun Olam’s MMJ products will be grown, manufactured and sold in four states where MariMed has a presence – Illinois, Maryland, Massachusetts and Rhode Island.

The arrangement will begin in 2018, according to a joint news release.

Tikun Olam of Tel Aviv currently has products in Delaware and Nevada dispensaries and plans to move into the Washington state market in November.

…

MA holding company helps Israeli MMJ firm expand US reach is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Aurora starts ‘regular’ shipments of medical marijuana to Germany

Aurora Cannabis sent its first shipment of medical marijuana to Germany, a market with so much growth potential that Canadian licensed producers have been racing to gain a toehold there.

Monday’s shipment of 50 kilograms (110 pounds) of dried cannabis to Berlin-based Pedanios represents “a critical step” in Aurora’s international expansion strategy and provides a gateway to the wider EU market, the company said in a news release.

Pedanios, a wholly owned subsidiary of Alberta-based Aurora (TSX Exchange: ACB), will distribute the product through its network of more than 1,500 pharmacies across Germany.

Aurora joins a growing list of Canadian licensed producers

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Aurora starts ‘regular’ shipments of medical marijuana to Germany is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Study: Doctors-in-training not prepared to recommend MMJ

The vast majority of medical students aren’t learning about the medicinal applications of marijuana, according to a new study.

Without doctors who are properly educated on how to recommend medical cannabis, business owners in states with MMJ programs could face bottlenecks in getting product to customers.

Washington University School of Medicine in St. Louis surveyed 258 medical residents and fellows across the country and found that nine out of 10 aspiring physicians believe they are inadequately prepared to recommend MMJ as a treatment, HealthDay News reported.

The news outlet also found that the Association of Medical

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Study: Doctors-in-training not prepared to recommend MMJ is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

West Virginia seeks $2 million to start medical cannabis program

West Virginia regulators are anticipating the state will need about $2 million to launch its medical marijuana program.

State health officer Dr. Rahul Gupta told both the state Senate and the House of Delegates the program could potentially be funded through an “internal loan,” the Charleston Gazette-Mail reported.

The biggest portion of the program’s expected startup costs is the $700,000 West Virginia plans to invest in a seed-to-sale tracking system, according to the newspaper.

Once the MMJ program is up and running – mid-2019 is the target date for sales

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West Virginia seeks $2 million to start medical cannabis program is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Oregon’s marijuana regulatory agency faces state audit

The Oregon Secretary of State plans to audit the state’s recreational marijuana regulatory agency and how the program enforces cannabis rules.

According to The Oregonian, the audit announcement precedes a Tuesday visit to Oregon by U.S. Attorney General Jeff Sessions, who wrote to Gov. Kate Brown this summer expressing concerns that the state has been unsuccessful in slowing the state’s black market.

The Oregon Liquor Control Commission (OLCC) – which manages the state’s recreational marijuana program – also was audited earlier this year by an outside group, The Oregonian reported.

The independent audit concluded that

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Oregon’s marijuana regulatory agency faces state audit is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs