MMJ Business Daily

Delaware removes barrier to MMJ access for PTSD patients

Delaware’s governor signed a new law to make it easier for those suffering from post-traumatic stress disorder (PTSD) to obtain medical marijuana, a move likely to boost MMJ sales in the state.

Although PTSD was already a qualifying condition in the state, those patients were previously required to get authorization from a psychiatrist before being allowed to purchase medical cannabis, radio station 105.9 FM (WXDE) reported. Senate Bill 24 – which Gov. John Carney signed this week – eliminates that requirement.

The change could be a significant development for the state’s two operational dispensaries, since there

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Delaware removes barrier to MMJ access for PTSD patients is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Nevada licenses first rec MJ distributors, eases transport rule

Nevada regulators on Thursday licensed the first two recreational marijuana distributors in the state, then rewrote a regulation to speed up the processing of transport permits.
The moves are expected to help alleviate concerns that Nevada’s cannabis r…

Utah moves to approve growing industrial hemp for research

A Utah agricultural board has given preliminary approval to a change in government rules that would allow farmers in the state to cultivate industrial hemp for research purposes.

Under the Utah Department of Food and Agriculture’s proposed rule, farmers would be allowed to grow hemp that contains less than 0.03% THC, according to Salt Lake City TV station KSTU.

State research institutions such as Utah State University are already allowed to cultivate industrial hemp for research purposes as part of the 2014 federal Farm Bill, but the new rule would expand

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Utah moves to approve growing industrial hemp for research is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

New York aims to ramp up hemp production

New York is bullish on hemp.

Gov. Andrew Cuomo on Wednesday signed legislation aimed at boosting production of hemp and committed $10 million in state funds to ramp up the industry.

In signing the bill into law, the governor said hemp holds great potential for New York’s agricultural and biotech industries.

According to the Albany Times Union, the new law:

• Mandates that industrial hemp be categorized as an agricultural product and be given the same considerations as other crops and seeds.
• Requires state agencies to collaborate on funding and support for hemp research and businesses.
• Sets up

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New York aims to ramp up hemp production is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Finding the right sales price for a marijuana business

By John Schroyer

Say you’ve had a marijuana business for a few years.

And you’re tired of running it and want to cash out, or maybe you’ve encountered an excited potential buyer looking to get into the industry.

The immediate question is: How much is the company worth?

“This is the ultimate challenge for a business appraiser,” said Colorado accountant Ron Seigneur, who has written more than 20 valuations for cannabis businesses in five states and has a book coming out this fall about how to value marijuana companies.

It’s an issue sure to crop up increasingly given

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Finding the right sales price for a marijuana business is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Golden Leaf buys Oregon marijuana business Chalice Farms

In a deal combining two Oregon marijuana businesses, Golden Leaf Holdings has signed an agreement to acquire Chalice Farms, a vertically integrated company that operates four medical and adult-use retail outlets.

The acquisition is the latest sweeping through the cannabis industry.

Golden Leaf, which produces and distributes marijuana flower and oil goods through its subsidiaries, will pay $19.3 million in cash and 83.4 million shares of its common stock to acquire Chalice Farms. Golden Leaf trades on the over-the-counter markets under the ticker symbol GLDFF.

Under the deal, Chalice Farms also will receive

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Golden Leaf buys Oregon marijuana business Chalice Farms is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

New Hampshire adds chronic pain, PTSD to MMJ conditions

New Hampshire has added chronic pain and post-traumatic stress disorder (PTSD) to the list of qualifying conditions for the state’s medical marijuana program, a move that could significantly boost the state’s struggling MMJ industry.

New Hampshire’s governor recently signed House Bill 160 adding the two conditions, according to Foster’s Daily Democrat.

A January report by New Hampshire’s health department indicated the state’s four MMJ dispensaries got off to a slow start since opening last year. The dispensaries generated a combined $740,000 in sales during their first few months of operation in 2016 compared with

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New Hampshire adds chronic pain, PTSD to MMJ conditions is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Massachusetts gov: Time running out on rec cannabis deal

If Massachusetts legislators are unable to reach a compromise over regulations for the state’s recreational marijuana industry, it may be time to implement the voter-approved law as it currently stands, Gov. Charlie Baker said.

A six-member negotiating committee trying to resolve differences between a House-passed bill that overhauls the recreational pot law and a Senate version calling for more modest changes met privately Tuesday, but once again, no deal was reached.

The panel already has missed a self-imposed June 30 deadline for delivering a bill to Baker’s desk, and then the House Speaker temporarily put the

Massachusetts gov: Time running out on rec cannabis deal is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Canadian cannabis M&As ready to ‘go crazy’: Q&A with Aurora CFO Glen Ibbott

By Omar Sacirbey

Glen Ibbott had a successful career as a top executive with U.S. life sciences companies worth hundreds of millions of dollars that listed on the Nasdaq Stock Market.

But it wasn’t hard for Canada’s Aurora Cannabis to lure Ibott north of the border to become the medical marijuana producer’s chief financial officer.

Canada is preparing to launch an adult-use industry in 2018. And Ibott liked the idea of working in a country where companies are pioneering the global cannabis market.

He was also drawn by the explosion of merger and acquisition activity in Canada and Alberta-based

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Canadian cannabis M&As ready to ‘go crazy’: Q&A with Aurora CFO Glen Ibbott is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

No applicants yet for Arkansas’ medical MJ business licenses

Would-be medical cannabis growers and dispensary owners have been able to submit applications for business permits for the past week and a half, but none have done so yet.

Of course, hopeful marijuana businesses still have more than two months until the Sept. 18 deadline to apply for the five cultivation licenses and 32 dispensary permits.

So, while it’s too early to draw any conclusions from the lack of applications, the hefty financial requirements may have discouraged some applicants: Each grow applicant must prove access to $1 million in assets and $500,000 in capital,

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No applicants yet for Arkansas’ medical MJ business licenses is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs