MMJ Business Daily

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

…

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

Arkansas receives 300 applications for medical cannabis licenses

Arkansas received roughly 300 applications for medical marijuana business licenses on the final day the paperwork could be submitted.

Applicants faced a three-hour wait ahead of Monday’s deadline, and their number greatly exceeded the clerks available to review applications to ensure they were complete.

The turnout likely was a relief for Arkansas’ MMJ regulators considering no applications had been received a week and a half after the licensing process began June 30. The first applications weren’t submitted until late August.

The 300 applicants are vying for licenses for five MMJ cultivation facilities and 32 dispensaries.

…

Arkansas receives 300 applications for medical cannabis licenses is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Measures that could grow Detroit’s medical marijuana industry go to voters

By John Schroyer

Two local ballot measures to grow Detroit’s once-sizable medical marijuana industry have overcome significant legal hurdles and will now go before voters in November.

The proposed changes, if approved by voters, would likely result in a broadening of the MJ-related business opportunities in Michigan’s biggest city.

The measures – one to formally opt the city into a state MMJ regulatory system and one to amend the city’s cannabis business zoning laws – have withstood a legal challenge from the Detroit Elections Commission and also received a green light from the county’s election commission.

Both decisions came

…

Measures that could grow Detroit’s medical marijuana industry go to voters is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Canadian marijuana firms raised $165.9M via debt instruments this year – and that’s just the start

By Matt Lamers

Canadian medical marijuana companies are starting to tap debt markets in a big way to fund their explosive growth, which until earlier this year had been financed almost entirely through stock offerings.

Cannabis companies raised $165.9 million via debt instruments – including convertible bonds, debentures and term loans – through August.

Canadian marijuana firms raised $165.9M via debt instruments this year – and that’s just the start is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Canadian marijuana firms raised $165.9M via debt instruments this year – and that’s just the start

By Matt Lamers

Canadian medical marijuana companies are starting to tap debt markets in a big way to fund their explosive growth, which until earlier this year had been financed almost entirely through stock offerings.

Cannabis companies raised $165.9 million via debt instruments – including convertible bonds, debentures and term loans – through August.

Canadian marijuana firms raised $165.9M via debt instruments this year – and that’s just the start is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Maryland university cancels medical marijuana courses

The University of Maryland’s School of Pharmacy has called off courses that had been scheduled for students planning careers in the medical marijuana field.

The college made the decision after “consulting with the Maryland attorney general’s office” and then decided to err on the side of caution because of marijuana’s ongoing status as a Schedule 1 controlled substance and the Trump administration’s lack of a clear policy on cannabis, according to The Baltimore Sun.

The school has suspended the MMJ program indefinitely, the newspaper reported, including proposed courses in cultivation, manufacturing, dispensing, laboratory standards and

…

Maryland university cancels medical marijuana courses is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

South Carolina extends deadline for prospective hemp growers

Prospective hemp farmers in South Carolina have an extra week to apply to grow the crop next year in the wake of Hurricane Irma.

State regulators extended the deadline to Sept. 22 because of the flooding caused by Irma.

Even before the hurricane, however, South Carolina farmers were showing light interest in growing hemp. The state had just eight applications before the initial deadline of Sept. 15, said Clint Leach, the state’s assistant agriculture commissioner.

South Carolina is requiring prospective hemp farmers to grow at least 20 acres of hemp, a size requirement that

…

South Carolina extends deadline for prospective hemp growers is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

South Carolina extends deadline for prospective hemp growers

Prospective hemp farmers in South Carolina have an extra week to apply to grow the crop next year in the wake of Hurricane Irma.

State regulators extended the deadline to Sept. 22 because of the flooding caused by Irma.

Even before the hurricane, however, South Carolina farmers were showing light interest in growing hemp. The state had just eight applications before the initial deadline of Sept. 15, said Clint Leach, the state’s assistant agriculture commissioner.

South Carolina is requiring prospective hemp farmers to grow at least 20 acres of hemp, a size requirement that

…

South Carolina extends deadline for prospective hemp growers is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

LSU completes deal with medical marijuana producer

Louisiana State University has completed its contract with a company that will grow medical marijuana and says production could begin by mid-2018.

The LSU AgCenter said in announcing the arrangement Monday that its new partner, Las Vegas-based GB Sciences, will start renovating its production facility immediately, The Advocate reported.

The deal was formalized despite a protest in which a competitor that was passed over for the contract questioned GB Sciences’ financial stability.

GB Sciences has agreed to pay LSU $3.4 million over five years or 10% of gross receipts, whichever is higher.

…

LSU completes deal with medical marijuana producer is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

LSU completes deal with medical marijuana producer

Louisiana State University has completed its contract with a company that will grow medical marijuana and says production could begin by mid-2018.

The LSU AgCenter said in announcing the arrangement Monday that its new partner, Las Vegas-based GB Sciences, will start renovating its production facility immediately, The Advocate reported.

The deal was formalized despite a protest in which a competitor that was passed over for the contract questioned GB Sciences’ financial stability.

GB Sciences has agreed to pay LSU $3.4 million over five years or 10% of gross receipts, whichever is higher.

…

LSU completes deal with medical marijuana producer is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs