MMJ Business Daily

Cannabis-centric ETF begins trading on Toronto Stock Exchange

A marijuana exchange-traded fund – billed as the world’s first – began trading on the Toronto Stock Exchange on Wednesday, the latest sign the cannabis industry is becoming more of a mainstream sector.

The newly launched Horizons Medical Marijuana Life Sciences ETF packages the stocks of 14 marijuana-related businesses into one security, CBC News reported. The Canadian unit of Horizons ETFs Management oversees the ETF.

An exchange-traded fund owns and tracks certain assets and, unlike a mutual fund, can be traded like a regular stock.

Ten of the ETF’s 14 stocks are based in Canada. Most of the Canadian companies

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Cannabis-centric ETF begins trading on Toronto Stock Exchange is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

California cannabis industry lauds governor’s ‘pro-business’ proposals

By John Schroyer

California marijuana businesses apparently have an ally in the governor’s mansion.

Many in the MJ industry are applauding a series of overhaul proposals issued Tuesday by Gov. Jerry Brown for his state’s regulatory system, which will begin overseeing the cannabis trade starting in January.

California cannabis industry lauds governor’s ‘pro-business’ proposals is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

California gov suggests big changes to new marijuana system

California Gov. Jerry Brown has issued a series of proposed changes to his state’s upcoming marijuana regulatory system in an effort to reconcile differences between a 2015 medical marijuana oversight law and the new recreational cannabis ballot initiative voters approved last year.

Among the numerous changes Brown put forth were several significant ones that were immediately hailed by the industry as a step in the right direction:

• Repealing a mandate that would require a local permit for MJ companies – on top of a state license – unless the city or county in which a business is

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California gov suggests big changes to new marijuana system is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Canadian marijuana grower strikes deal to enter U.S. market

Aphria – one of Canada’s largest medical marijuana producers – kicked off a U.S. expansion plan with an investment of 25 million Canadian dollars ($18.63 million) that will lead to the purchase of a licensed CBD business in Florida.

When the complex deal is done, Aphria will have established a foothold in Florida with the goal of eventually extending its reach to other medical marijuana markets in the United States, according to a news release.

Aphria plans to put the CA$25 million into private holding company DFMMJ Investment, which, in turn, will buy Chestnut Hill Tree Farm in Alachua, Florida, near

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Canadian marijuana grower strikes deal to enter U.S. market is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

California marijuana laws spark rift between industry, unions

The upcoming implementation of California’s state medical marijuana laws as well as the new recreational cannabis system have led to policy disagreements between those in the longstanding industry and organized labor, which is eager to get involved.

According to the San Francisco Chronicle, the rift threatens to disrupt what many were hoping would be a smooth rollout next year of California’s dual medical-recreational marijuana governance system. The concern is that unions are jockeying for dues-paying members while others in the business want more flexibility when it comes to, say, rules that govern who can transport marijuana.

A particular sticking

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California marijuana laws spark rift between industry, unions is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

California marijuana laws spark rift between industry, unions

The upcoming implementation of California’s state medical marijuana laws as well as the new recreational cannabis system have led to policy disagreements between those in the longstanding industry and organized labor, which is eager to get involved.

According to the San Francisco Chronicle, the rift threatens to disrupt what many were hoping would be a smooth rollout next year of California’s dual medical-recreational marijuana governance system. The concern is that unions are jockeying for dues-paying members while others in the business want more flexibility when it comes to, say, rules that govern who can transport marijuana.

A particular sticking

…

California marijuana laws spark rift between industry, unions is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Prospects brighten for cannabis reform in Congress, but most bills face uphill battle

By John Schroyer

Marijuana reform appears to be gaining steam in Congress this year, although the passage of any pro-cannabis legislation remains an open question and most bills appear to face long odds.
Prospects brighten for cannabis reform in Congr…

Prospects brighten for cannabis reform in Congress, but most bills face uphill battle

By John Schroyer

Marijuana reform appears to be gaining steam in Congress this year, although the passage of any pro-cannabis legislation remains an open question and most bills appear to face long odds.
Prospects brighten for cannabis reform in Congr…

Nevada to accept rec distribution bids from MMJ license holders

Nevada’s Department of Taxation hasn’t received enough interest for the state’s new adult-use marijuana market from liquor wholesalers, so it’s opening the distribution business to existing medical cannabis license holders.

The department will soon begin accepting distribution applications from medical cannabis businesses, according to the Las Vegas Review-Journal, a move that will give MMJ businesses another avenue into the upcoming recreational market.

MMJ license holders also will get the first crack at retail licenses.

With recreational cannabis sales slated to begin July 1, the state couldn’t afford to wait until the liquor industry warms up to marijuana.

When Nevada

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Nevada to accept rec distribution bids from MMJ license holders is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Hemp cultivation in Minnesota sees major growth spurt

Minnesota’s hemp crop has grown exponentially and the number of farmers cultivating the crop has increased sixfold as the state’s pilot program enters its second year.

This year, 42 farmers are growing hemp on roughly 2,100 acres, Minnesota’s Alpha News reported. That’s a huge increase from 2016, when Minnesota’s hemp cultivation program launched with seven farmers growing the low-THC plant on 37 acres.

Farmers who want to cultivate hemp must apply for a license with Minnesota’s agriculture department, which manages the state’s pilot program. The application must include:

• A detailed growing plan
• Information about the kind of research

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Hemp cultivation in Minnesota sees major growth spurt is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs