MMJ Business Daily

Marijuana company buys California town envisioning cannabis Epcot Center

By John Schroyer

An Arizona-based ancillary marijuana company said Thursday it’s taken the arguably historic step of purchasing an entire town with the aim of transforming it into a cannabis tourism mecca.

American Green, based in Phoenix, paid $5 million for the 80-acre town of Nipton near the California-Nevada border.

Nipton is about a one-hour drive from the Las Vegas Strip and four hours from Los Angeles.

American Green – which trades as ERBB on the over-the-counter markets – was “involved in” a marijuana vending machine venture, a company spokesman said, and also leases

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Marijuana company buys California town envisioning cannabis Epcot Center is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Canada’s rapidly changing marijuana landscape: Q&A with MedReleaf CEO Neil Closner

By Matt Lamers

Canadian marijuana producers confront major changes that promise to reshape the nation’s MJ industry, ranging from the planned rollout of recreational cannabis next summer to a potential deluge of new growers entering the market.

Among the companies navigating that shifting landscape is Markham, Ontario-based MedReleaf, one of Canada’s most profitable cannabis producers.

The company, which trades as LEAF on the TSX Exchange,  recently raised 100 million Canadian dollars ($79.5 million) through an initial public offering and a secondary offering of its shares.

MedReleaf plans to use the funding to expand internationally and boost its production

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Canada’s rapidly changing marijuana landscape: Q&A with MedReleaf CEO Neil Closner is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Canada’s rapidly changing marijuana landscape: Q&A with MedReleaf CEO Neil Closner

By Matt Lamers

Canadian marijuana producers confront major changes that promise to reshape the nation’s MJ industry, ranging from the planned rollout of recreational cannabis next summer to a potential deluge of new growers entering the market.

Among the companies navigating that shifting landscape is Markham, Ontario-based MedReleaf, one of Canada’s most profitable cannabis producers.

The company, which trades as LEAF on the TSX Exchange,  recently raised 100 million Canadian dollars ($79.5 million) through an initial public offering and a secondary offering of its shares.

MedReleaf plans to use the funding to expand internationally and boost its production

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Canada’s rapidly changing marijuana landscape: Q&A with MedReleaf CEO Neil Closner is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Alberta’s medical marijuana patients double in first quarter

The number of registered medical marijuana patients in Alberta doubled, and the number of doctors prescribing MMJ rose 50% in the first quarter of this year, indicating the drug is becoming more accessible to the province’s 4.1 million people.

The increases bode well for Canada’s MMJ companies and offer a sneak preview of business prospects for the country’s impending legalization of recreational marijuana next summer.

There were 329 doctors registered to prescribe medical cannabis at the end of 2016, and that number increased to 495 in the first three months of 2017, CBC News reported.

The province’s overall

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Alberta’s medical marijuana patients double in first quarter is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Potential licensees show interest in ND medical cannabis program

Nearly 100 groups and businesses in North Dakota have shown interest in producing or dispensing medical marijuana.

The health department in June asked those considering entering the state’s MMJ program to notify the agency by the end of the month so it could gauge interest.

The request exceeded expectations, with the agency receiving 97 nonbinding letters of intent, according to Kenan Bullinger, director of the department’s medical marijuana division.

“I’m pretty sure we’re going to have the ability to have a dispensary in each part of the state,” he said.

North Dakota voters approved a medical marijuana program last November, and

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Potential licensees show interest in ND medical cannabis program is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Las Vegas airport may ban mobile marijuana advertisements

How far can local and federal governments go in banning marijuana-related advertisements at airports?

That question has taken center stage in Nevada, where Clark County commissioners are debating whether taxis bearing marijuana advertising should be allowed to ferry passengers to and from McCarran Airport in Las Vegas. Las Vegas is part of Clark County.

Commissioners agree marijuana advertisements shouldn’t be allowed at the airport because it’s property of the federal government, which views marijuana as illegal, according to the Las Vegas Sun.

However, the commissioners are discussing a proposed ordinance that would make the advertisement and possession

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Las Vegas airport may ban mobile marijuana advertisements is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Cannabis Wheaton’s CA$15M purchase of ABcann shares OK’d

Cannabis Wheaton received approval from the TSX Venture Exchange to purchase 15 million Canadian dollars ($12 million) of ABcann shares.

The transaction is part of a larger CA$30 million investment Cannabis Wheaton is making to fund the construction of a 50,000-square-foot (4,600-square meter) expansion at ABcann’s proposed Kimmett cannabis cultivation facility in Napanee, Ontario.

After the CA$30 million investment is completed, Cannabis Wheaton will be entitled to 50% of the cannabis yield in the expansion area, which it estimates at 8 million grams (8.8 tons) per year.

Cannabis Wheaton, which funds entrepreneurs entering Canada’s marijuana industry, trades as CBW on

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Cannabis Wheaton’s CA$15M purchase of ABcann shares OK’d is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Oregon marijuana testing company expands into Florida

Signal Bay – a marijuana-focused holding company in Bend, Oregon – has expanded its marijuana testing division to Florida through a licensing agreement with a Fort Lauderdale-based holding company, Kaycha Holdings.

Through the agreement, Signal Bay subsidiary EVIO Labs will operate under the EVIO Labs brand, according to a news release.

EVIO also has cannabis testing operations in California, Massachusetts and Oregon. It trades on the over-the-counter markets under the ticker symbol SGBY.

Florida currently has seven licensed medical marijuana dispensaries, or medical marijuana treatment centers.

However, Florida’s governor signed a bill

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Oregon marijuana testing company expands into Florida is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

New York’s next medical marijuana licensees leap into embattled market

By Bart Schaneman

Despite a pending lawsuit aimed at preventing such a move, the New York Department of Health announced Tuesday it had doubled its medical marijuana businesses from five to 10.

But that makes the question at the heart of the suit even more pertinent: Can the state support its MMJ industry?

New York’s next medical marijuana licensees leap into embattled market is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Ohio finalizes rules for medical cannabis program

Ohio regulators have established rules for a strictly regulated medical marijuana program, though it will have room to grow after it launches in September 2018.
As many as 60 dispensaries will be licensed, up from the initial 40, the Cleveland Plain De…