MMJ Business Daily

Washington state rule change expands business options for marijuana cultivators

By Bart Schaneman

Washington state recently eased restrictions on how many producer licenses marijuana businesses can own, a move that could lead to more competition, an uptick in mergers and acquisitions and possibly increased supply.

Under the state’s revised policy, business owners can up their licenses from one to three, effective immediately.

But they must draw from the current pool of 1,154 producer licenses; no new permits have been created.

The Washington Liquor and Cannabis Board (LCB) originally planned to allow businesses up to three licenses to cultivate marijuana but tabled that scenario in the legal market’s early

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Washington state rule change expands business options for marijuana cultivators is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Tilray to invest CA$30 million to build one of Canada’s largest cannabis facilities

By Matt Lamers

Canadian medical marijuana producer Tilray will invest 30 million Canadian dollars ($24 million) to convert an Ontario pepper farm into one of the nation’s largest MJ production facilities.

The project’s initial phase will give Tilray a fivefold increase in production capacity to over 40,000 kilograms a year by the end of 2018.

The boost in output will allow the company to serve Canada’s rapidly expanding medical marijuana program and, ultimately, the nation’s new recreational market.

Full rollout of the Ontario facility, in the township of Enniskillen, ultimately would see Tilray’s annual production rise to about

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Tilray to invest CA$30 million to build one of Canada’s largest cannabis facilities is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Canadian firm buys Florida land to boost medical marijuana output

The Canadian holder of a license to cultivate medical marijuana in Florida plans to expand its production capacity in the state by more than 35 times to capitalize on the launch of the Sunshine State’s full-fledged MMJ market.

Liberty Health Sciences., which is based in Toronto and trades on the Canadian Securities Exchange under the symbol LHS, will purchase 36 acres of land in Alachua County, Florida, for $866,975 in cash, the company announced in a news release.

The parcel is adjacent to the company’s existing 13,000-square-foot grow facility at Chestnut Hill Tree Farm, which produces 700 kilograms (about

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Canadian firm buys Florida land to boost medical marijuana output is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Maine will miss deadline to launch recreational cannabis market

Maine officials say the state won’t be able to meet its February deadline to allow recreational marijuana sales.

Republican State Sen. Roger Katz said the agencies responsible for the recreational market rollout don’t have sufficient time before the deadline to perform such tasks as licensing growers, writing departmental rules and hiring new inspectors, the Portland Press Herald reported.

The president of Legalize Maine estimates the delay means adult-use business licenses won’t be issued until summer 2018.

Advocates for legalization say the delay “keeps the black market going.”

The adult-use marijuana program voters legalized in November 2016 already has been

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Maine will miss deadline to launch recreational cannabis market is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Canada’s Canopy Growth expects to use mail for rec marijuana sales

One of Canada’s largest licensed medical marijuana producers doubts all the provinces will have networks of retail MJ stores ready for takeoff when the country legalizes recreational cannabis next summer – and so the company is readying its own mail-order platform.

Canopy Growth believes the majority of its sales in the first two years of the recreational market will be conducted through a mail-order system, the company said in a management document released Monday with its financial results.

Consequently, Canopy said it took steps in the first half of this year to prepare an “Amazon-like” online marketplace to

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Canada’s Canopy Growth expects to use mail for rec marijuana sales is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Canada’s Canopy Growth expects to use mail for rec marijuana sales

One of Canada’s largest licensed medical marijuana producers doubts all the provinces will have networks of retail MJ stores ready for takeoff when the country legalizes recreational cannabis next summer – and so the company is readying its own mail-order platform.

Canopy Growth believes the majority of its sales in the first two years of the recreational market will be conducted through a mail-order system, the company said in a management document released Monday with its financial results.

Consequently, Canopy said it took steps in the first half of this year to prepare an “Amazon-like” online marketplace to

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Canada’s Canopy Growth expects to use mail for rec marijuana sales is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Report: Justice Department blocking cannabis research permits

The Department of Justice under Attorney General Jeff Sessions is forcing the Drug Enforcement Administration to backtrack on a new policy in which the DEA promised to issue more federal permits for scientific research into marijuana.

The DEA’s move a year ago was hailed as a small step in the right direction, since the federal government for decades has blocked any kind of scientific research into possible medicinal benefits of cannabis.

According to The Washington Post, the DOJ has “effectively blocked the (DEA) from taking action on more than two dozen requests to grow marijuana

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Report: Justice Department blocking cannabis research permits is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Report: Justice Department blocking cannabis research permits

The Department of Justice under Attorney General Jeff Sessions is forcing the Drug Enforcement Administration to backtrack on a new policy in which the DEA promised to issue more federal permits for scientific research into marijuana.

The DEA’s move a year ago was hailed as a small step in the right direction, since the federal government for decades has blocked any kind of scientific research into possible medicinal benefits of cannabis.

According to The Washington Post, the DOJ has “effectively blocked the (DEA) from taking action on more than two dozen requests to grow marijuana

…

Report: Justice Department blocking cannabis research permits is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Aphria invests in Scientus to tap Canadian MJ extracts market

Aphria is increasing its stake in the booming cannabinoid-based extracts market with an 11.5 million Canadian dollar ($9 million) investment in Scientus Pharma, a vertically integrated biopharmaceutical company.

Toronto-based Scientus Pharma conducts research and product development related to medical cannabinoids and their derivatives. The investment is in the form of senior, secured convertible debt.

Aphria (Toronto Stock Exchange: APH), based in Leamington, Ontario, said the investment also gives it access to Scientus’ so-called dealer’s license. The holder of such a license is permitted to buy, process and sell cannabinoid derivatives in international markets.

Canada’s medical marijuana market has

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Aphria invests in Scientus to tap Canadian MJ extracts market is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Several factors led to Hawaii’s flawed medical marijuana launch

By Bart Schaneman

When Hawaii’s two operational medical marijuana dispensaries were forced to close just days after opening, a laboratory bottleneck was blamed for a supply disruption.

But participants in the fledgling MMJ program said the state’s only functioning lab isn’t at fault. Instead, they pointed to a number of other factors for their problems.

Several factors led to Hawaii’s flawed medical marijuana launch is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs