MMJ Business Daily

Lawsuit: Ex-OR official bilked investors in marijuana business

In what is shaping up to be a cautionary tale for would-be cannabis industry investors, a former county commissioner from Oregon is being sued for allegedly scamming financial backers out of more than $200,000 to ostensibly fund a marijuana business.

Former Jackson County Commissioner Doug Breidenthal is the target of the suit, which seeks $529,000 in damages, the Mail Tribune reported.

According to the suit, Breidenthal bilked three people out of a total of $229,000, which he told them was to finance a cannabis retail shop in Medford, Oregon, called American Cannabis Co.

But the store still hasn’t

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Lawsuit: Ex-OR official bilked investors in marijuana business is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Medical cannabis executives see benefits in White House comments

By Omar Sacirbey

The nation’s medical marijuana industry is finding solace in White House comments last week that hinted at “greater enforcement” of federal laws on recreational cannabis businesses.

“It is good news for medical marijuana,” said Alex Ford of the Grassroots Vermont dispensary. “I do feel a greater level of comfort.”

Medical cannabis executives see benefits in White House comments is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Sessions: DOJ will adopt ‘responsible policies’ on marijuana

In his first public remarks about marijuana since being confirmed as U.S. attorney general, Jeff Sessions told reporters on Monday that his Department of Justice will strive to find “responsible policies” regarding the enforcement of federal cannabis laws.

According to the Associated Press, Sessions – who was a vocal marijuana critic as a U.S. senator before being chosen as President Donald Trump’s attorney general – added that he doesn’t believe the United States would be better off with “more people smoking pot.”

“I am definitely not a fan of expanded use of marijuana,” he added. “But states, they

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Sessions: DOJ will adopt ‘responsible policies’ on marijuana is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Louisiana could be producing medical cannabis by end of year

One of the two establishments legally allowed to grow medical cannabis in Louisiana says it could have a grow operation up and running before the end of the year.

The state’s restrictive MMJ program permits only Southern University and Louisiana State University (LSU) to grow cannabis for legal patients, which has led many observers to conclude that the Bayou State’s MMJ program is not really viable and will never get off the ground.

But Southern is planning to issue a call next month for bidders to run its MMJ grow for at least five years, according to

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Louisiana could be producing medical cannabis by end of year is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Alaska appoints top cannabis regulator

Alaska Gov. Bill Walker has appointed an Anchorage planning official to lead the state’s Alcohol and Marijuana Control Office and the Marijuana Control Board.

Erika McConnell, who will start in late March, has worked for the city since 2003 in various roles, most recently in the Office of Economic and Community Development, the Alaska Journal of Commerce reported.

While in that role, she had some oversight of Anchorage’s alcohol licensing and created the city’s marijuana land-use code.

However, her cannabis record in Anchorage appears to be a mixed bag.

Jack Tobin, owner of Farmer Jack’s cultivation facility, lauded

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Alaska appoints top cannabis regulator is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Chart: License delays plaguing Portland, Oregon, rec businesses

By Eli McVey

Fighting a slow-moving bureaucracy, the overwhelming majority of would-be recreational marijuana businesses in Portland, Oregon, are stuck in various stages of the city’s application process – a frustrating and potentially disastrous scenario for many entrepreneurs hoping to enter the state’s largest cannabis market.

In a cannabis regulatory system unique to Portland, the city requires that all recreational businesses receive a license from the city before they’re allowed to operate. This is in addition to the mandated state license required by the Oregon Liquor Control Commission (OLCC).

The dual licensure was intended to ensure public safety and

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Chart: License delays plaguing Portland, Oregon, rec businesses is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

White House’s words won’t deter rec marijuana states

By John Schroyer

Despite ominous overtones from the White House, the eight states that have legalized recreational cannabis are proceeding full-bore, whether it’s with existing infrastructures or plans to establish new markets.

Governors and attorneys general responded in unison: They’ll honor voters’ wishes, and conduct business as usual while awaiting specific policies.

The cannabis industry’s future was called into question Thursday when President Donald Trump’s press secretary, Sean Spicer, said “greater enforcement” could be on the horizon for recreational marijuana. He indicated that medical cannabis likely would be immune from any potential crackdown.

Though Spicer said it’s a

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White House’s words won’t deter rec marijuana states is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Trump enforcement news hits cannabis stocks

Comments from White House press secretary Sean Spicer on Thursday that federal authorities could start cracking down on recreational marijuana businesses sent cannabis stocks on a roller-coaster ride Friday, with some stocks tumbling as much as 15% in early morning trading.

As of late Friday afternoon, a U.S. cannabis index – MarijuanaIndex.com’s collection of 17 cannabis-related stocks that trade mainly over the counter – was down 4.45 points, or 5.81%, from its opening price of $75.40.

The index plunged about six points to start the day, trading at just over $69 per share, before regaining a few points over

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Trump enforcement news hits cannabis stocks is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Washington state vows to fight any cannabis crackdown by feds

Washington state is ready to fight if necessary to keep its legal marijuana, Attorney General Bob Ferguson said after White House spokesman Sean Spicer hinted at a federal crackdown.

“We will resist any efforts to thwart the will of the voters in Washington,” Ferguson said, according to the Associated Press.

Spicer offered no details about what any renewed federal efforts in legal-cannabis states might entail but said he expected “greater enforcement” and drew a distinction between marijuana use for medical and recreational purposes.

Ferguson said he was disappointed in Spicer’s comments, noting that he and Gov.

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Washington state vows to fight any cannabis crackdown by feds is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Denver MJ business owner picked for local chamber of commerce

Jake Salazar, the founder and CEO of Colorado cannabis retail chain MMJ America, has been appointed to the board of directors of the Hispanic Chamber of Commerce of Metro Denver.

Salazar, who is of Mexican heritage, said he is “honored” to be working alongside other Hispanic business executives at the chamber and that he’ll be focusing on “fundraising and public policy” in his new role.

Salazar’s appointment is yet another sign of the growing mainstream acceptance of the cannabis trade, given that he’ll be working with other executives from a variety of industries, ranging from utilities such as

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Denver MJ business owner picked for local chamber of commerce is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs