MMJ Business Daily

Uncertainty over TMX stock listing rules weighs on some Canadian marijuana companies

By Matt Lamers

A lack of clarity over regulations governing Canadian marijuana stocks listings with exposure in the United States has had an impact on how some of the nation’s MJ companies do business.

Industry executives said the uncertainty has affected everything from innovation and employment to capital deployment and business relationships.

A cloud has been hanging over the industry for months because TMX Group – the parent of the Toronto Stock Exchange (TSX) and the TSX Venture Exchange – has failed to develop a clear policy for publicly listed companies that also have business ties to

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Uncertainty over TMX stock listing rules weighs on some Canadian marijuana companies is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Minnesota tribe entering the hemp business

At least one Native American tribe – on the White Earth reservation in northwestern Minnesota – has decided to take a leap and get into the hemp business.

The tribe has spent $100,000 on just a few acres of the crop, according to Minnesota Public Radio, but is hoping the return on its investment will be enough to bolster the reservation’s economy.

The tribe is one of many that developed an interest in the cannabis business after the Department of Justice issued a memo in 2014 that appeared to give Native Americans the go-ahead

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Minnesota tribe entering the hemp business is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Nevada marijuana distribution licenses on hold another week

Nevada’s plan to expand its pool of recreational marijuana distributors is delayed again.

The state’s Tax Commission has agreed not to issue distribution licenses to any non-liquor entities until the panel hears an Aug. 29 appeal from the Independent Alcohol Distributors of Nevada.

A judge last week lifted an injunction that prohibited the Nevada Taxation Department from licensing anyone other than alcohol businesses to transport recreational marijuana from cultivators to dispensaries.

Judge James Russell said he had no authority to override the tax department’s decision earlier this month that there weren’t enough alcohol distributors to

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Nevada marijuana distribution licenses on hold another week is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Banking troubles for Uruguay’s recreational cannabis businesses

It didn’t take long for recreational marijuana businesses in Uruguay to encounter a key challenge that hinders U.S. cannabis companies – banking.

Uruguayan pharmacies began selling adult-use cannabis July 19, but the South American nation’s banks are refusing to do business with companies with ties to marijuana.

A government official – speaking on the condition of anonymity – said Uruguayan banks that deal with companies that sell rec marijuana risk running afoul of international finance laws. U.S. financial institutions, meanwhile, are hesitant to bank marijuana businesses because cannabis remains illegal at the federal level.

Uruguay’s largest

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Banking troubles for Uruguay’s recreational cannabis businesses is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Banking troubles for Uruguay’s recreational cannabis businesses

It didn’t take long for recreational marijuana businesses in Uruguay to encounter a key challenge that hinders U.S. cannabis companies – banking.

Uruguayan pharmacies began selling adult-use cannabis July 19, but the South American nation’s banks are refusing to do business with companies with ties to marijuana.

A government official – speaking on the condition of anonymity – said Uruguayan banks that deal with companies that sell rec marijuana risk running afoul of international finance laws. U.S. financial institutions, meanwhile, are hesitant to bank marijuana businesses because cannabis remains illegal at the federal level.

Uruguay’s largest

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Banking troubles for Uruguay’s recreational cannabis businesses is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Arkansas gets first medical marijuana dispensary application 

Arkansas has received its first application for a medical marijuana dispensary license.

The application was submitted last week, according to the Arkansas Department of Finance and Administration, and regulators anticipate more applications to start arriving closer to the Sept. 18 submission deadline.

Arkansas began accepting MMJ business applications June 30 for five cultivation facilities and 32 dispensaries.

Meanwhile, the state plans to award the MMJ licenses near the end of the year, Arkansas Matters reported.

Medical marijuana sales are expected to begin around March, according to the news outlet, and dispensaries likely will be busy.

As of Friday, there

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Arkansas gets first medical marijuana dispensary application  is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Arkansas gets first medical marijuana dispensary application 

Arkansas has received its first application for a medical marijuana dispensary license.

The application was submitted last week, according to the Arkansas Department of Finance and Administration, and regulators anticipate more applications to start arriving closer to the Sept. 18 submission deadline.

Arkansas began accepting MMJ business applications June 30 for five cultivation facilities and 32 dispensaries.

Meanwhile, the state plans to award the MMJ licenses near the end of the year, Arkansas Matters reported.

Medical marijuana sales are expected to begin around March, according to the news outlet, and dispensaries likely will be busy.

As of Friday, there

…

Arkansas gets first medical marijuana dispensary application  is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Chart: Portion of women executives in cannabis dips to 27% but still strong

By Eli McVey

The percentage of women holding executive positions in cannabis businesses has fallen substantially over the past two years, according to a survey by Marijuana Business Daily.

But there’s some good news: It remains higher than the average across the larger U.S. business landscape.

Chart: Portion of women executives in cannabis dips to 27% but still strong is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

San Diego police continue crackdown on illegal dispensaries

San Diego police raided two illegal dispensaries as part of the city’s ongoing effort to shutter illicit marijuana businesses.

Authorities seized 30 pounds of marijuana and $37,000 from The Healing Center, City News Service reported, and four employees were arrested. The other facility, Kush Factory, was closed for renovation, so police didn’t find much product.

San Diego police have also warned delivery drivers that they could be prosecuted for working with illegal marijuana dispensaries, according to the news outlet.

San Diego is among the California cities preparing for the launch of the state’s legal

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San Diego police continue crackdown on illegal dispensaries is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Canadian stock exchange operator tries to clear air on cannabis stance

Canada’s cannabis industry and investors looking for clarity from TMX Group over its stance on MJ companies with U.S. assets will have to keep waiting.

TMX said in a news release Thursday it’s holding talks with Canada’s provincial and territorial securities regulators over the clearing of securities of issuers with marijuana-related activities in the United States. TMX operates the Toronto Stock Exchange and the TSX Venture Exchange.

“This is a complex matter,” TMX said in the two-paragraph statement.

A cloud has been hanging over the industry since various news outlets reported that the Canadian Depository for Securities (CDS) – a clearinghouse owned by

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Canadian stock exchange operator tries to clear air on cannabis stance is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs