MMJ Business Daily

Michigan gov appoints medical marijuana regulatory board

Michigan Gov. Rick Snyder has appointed five board members to the state Medical Marijuana Licensing Board, a move that’s expected to allow the regulation and licensing process to get underway.

The board will regulate growth, processing, transportation and selling of medical marijuana. Former Republican Speaker of the House Rick Johnson will be chairman. Senate Marjority Leader Arlan Meekhof appointed Johnson. Other members include Nichole Cover, a health care supervisor for Walgreens, and Donald Bailey, a retired Michigan State Police sergeant.

Meekhof said he nominated Johnson for his varied experience and knowledge.

Snyder said the board will help to provide oversight

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Michigan gov appoints medical marijuana regulatory board is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Study finds women behind surge in CBD use in Illinois

A study of patients in Illinois suggests that CBD products are nearly as popular as THC products, and that women are the driving force behind sales of the former.

The Illinois Medical Cannabis Patient Experience Study – conducted by Aclara Research, a Chicago medical marijuana patient research firm – found that 47% of patients said they use CBD daily and 22% had no previous experience with marijuana before joining the state’s MMJ program.

The survey of 300 patients also showed that women are the biggest reason for CBD’s popularity in Illinois: Some 75% of female patients

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Study finds women behind surge in CBD use in Illinois is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Consultant found not guilty after aiding tribe in cannabis cultivation

A South Dakota jury cleared a consultant of drug charges after he helped an American Indian tribe grow marijuana for a cannabis resort the tribe once hoped would include a nightclub, an outdoor music venue and bring in millions of dollars.

Eric Hagen – a 34-year-old consultant who worked with the Flandreau Santee Sioux Tribe – had faced charges of conspiracy to possess, possession by aiding and abetting and attempted possession of more than 10 pounds of marijuana. The plan for a resort north of Sioux Falls was ultimately abandoned.

The jury took only a couple

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Consultant found not guilty after aiding tribe in cannabis cultivation is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Week in Review: WV process begins, Oregon medical cannabis expansion & possible Florida license increase

By Omar Sacirbey, John Schroyer and Bart Schaneman

West Virginia starts developing a medical marijuana blueprint, Oregon’s MMJ industry may get a shot in the arm, and Florida could issue more business licenses under its existing CBD-focused program.

Here’s a closer look at some notable developments in the marijuana industry over the past week.

‘Pretty good start’ for West Virginia

West Virginia regulators have started trying to figure out how to implement the state’s new medical marijuana law, and at least one supporter likes what he sees.

“I think we’re off to a pretty good start,”

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Week in Review: WV process begins, Oregon medical cannabis expansion & possible Florida license increase is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Maryland judge halts medical cannabis cultivation licensing

A Maryland circuit court judge on Thursday afternoon issued a temporary restraining order, forcing the state’s Medical Cannabis Commission to hold off on issuing any more MMJ cultivation licenses for at least 10 days.

The order is the result of an ongoing lawsuit filed last October by Alternative Medicine Maryland, one of the cultivation license applicants that was not awarded one of the 15 provisional permits. The first full cultivation license was just awarded last week, and the commission has yet to finalize

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Maryland judge halts medical cannabis cultivation licensing is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

California MMJ businessman, attorney charged with felonies

The founder of a San Diego medical cannabis distribution company, along with several of his employees and his attorney, have been charged with felony crimes by the county district attorney.

The charges are all related to a case that’s been ongoing for nearly a year and a half, since local police raided Med-West, a defunct San Diego MMJ concentrate distributor, in January 2016. The DA’s office, however, was recently ordered to return $100,000 that the agency seized from Slatic’s family.

But District Attorney Bonnie Dumanis isn’t letting the case go. Her office

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California MMJ businessman, attorney charged with felonies is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Cannabis social media site MassRoots needs $5M to stay afloat

MassRoots, a popular marijuana-focused social media platform, said in its quarterly financial filings that the company is running low on capital and will need to raise $5 million in the next year “to continue to fund operations.”

The Denver-based business added that it expects to be able to raise most of that sum by exercising warrants.

“We are dependent on the sale of our securities to fund our operations, and will remain so until we generate sufficient revenues to pay for our operating costs,” the publicly traded company said in filings with the Securities and Exchange Commission.

MassRoots posted a $7.4 million net loss

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Cannabis social media site MassRoots needs $5M to stay afloat is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Investors pump up to $80M into Oregon MJ startups

Investors have pumped tens of millions of dollars into the Oregon cannabis industry, according to a state senator who sits on the Oregon Marijuana Regulation Committee. He estimated that investments total between $60 million and $80 million.

And that’s only in the last six months, Sen. Floyd Propanski told Northwest Public Radio.

“The numbers we just received by phone says in the last six months there’s $60 million to $80 million dollars have gone into start-ups,” Propanski said.

The senator didn’t elaborate, or discuss where most of that investment cash has gone, but at least one recipient

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Investors pump up to $80M into Oregon MJ startups is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Recreational marijuana legalization in Vermont still a possibility despite veto

By Omar Sacirbey

At first blush, Vermont Gov. Phil Scott’s veto Wednesday of a limited recreational marijuana bill delivered a major blow to legalization efforts in the state and hopes for a new cannabis industry there.

But the governor, in fact, left the door open to a compromise this year.

Recreational marijuana legalization in Vermont still a possibility despite veto is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Canadian firm to manage, but not buy, Florida MMJ company

Although a proposed deal for a Canadian medical marijuana company to purchase one of Florida’s MMJ licensees apparently has fallen through, another deal has taken its place.

DFMMJ Investment LLC, which is owned by Liberty Health Sciences, will take over management of Florida’s Chestnut Hill Tree Farm, one of the state’s seven licensed medical cannabis producers under Florida’s current CBD-focused program. And Aphria, the Canadian MMJ producer that tried to buy Chestnut Hill, is the primary investor in Liberty, according to the News Service of Florida.

Under the terms

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Canadian firm to manage, but not buy, Florida MMJ company is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs