MMJ Business Daily

A major marijuana merger in Canada

Canada’s biggest medical marijuana company, Canopy Growth Corp., just got bigger by acquiring competitor Mettrum Health Corp. for 430 million Canadian dollars ($323 million).

More mergers are likely, analyst Mason Brown of M Partners in Toronto, told Bloomberg News. Canada currently has 36 federally licensed MMJ producers. But as more mergers occur, he predicted, five to eight companies will control most of the market.

Canopy Growth hopes to expand production as Canada’s government moves forward with plans to legalize adult-use cannabis, according to Bloomberg News.

Last week, a federal task force presented a report to Prime Minister Justin Trudeau’s

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A major marijuana merger in Canada is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Chart: Healthy markups for marijuana strains with celebrity names

By Eli McVey

Celebrity-branded marijuana strains are commanding a premium in recreational markets by capitalizing on name recognition and sophisticated branding.

The average markup of a celebrity-branded strain versus its unbranded counterpart is approximately 24%, which often equates to $5-$10 more per eighth, according to an analysis by Marijuana Business Daily.

The findings highlight the long-term potential of such offerings and the power of using a well-known name to sell cannabis to recreational users, who often consider different factors than medical patients when purchasing marijuana and are also less familiar with the plant in general.

A rec consumer who walks into a

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Chart: Healthy markups for marijuana strains with celebrity names is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Florida medical marijuana industry rollout likely to be slow

Even though medical marijuana passed by a historic margin in Florida last month, that doesn’t mean state legislators are going to rush to implement the new law. Rather, it will likely be the opposite, with lawmakers dragging their feet.

A whopping six million voters supported legalizing MMJ at the ballot box, but establishing industry regulations and licensing cannabis businesses “is not a top priority for the newly elected leaders of the legislature,” the Tampa Bay Times reported Friday.

The legislative session does not begin until March 7, and so far, only one legislator has announced plans to introduce

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Florida medical marijuana industry rollout likely to be slow is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

CA treasurer forms group to address federal banking rules

California’s state treasurer has assembled a group to address the problems caused by banks’ refusal to deal with marijuana businesses, following up on his state’s legalization of recreational cannabis in the Nov. 8 election.

State Treasurer John Chiang also sent a letter to President-elect Donald Trump and included members of California’s congressional delegation asking for help to fix the problem, according to the Los Angeles Times.

In the letter, Chiang pointed out that the divide between federal and state rules causes issues for the states where marijuana is legal, including tax problems, security concerns and the hurdles

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CA treasurer forms group to address federal banking rules is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Maine cannabis pioneer embarking on new career path

A marijuana industry pioneer is leaving her post at New England’s most prominent dispensary to pursue new opportunities in her home state of Maine and nationally.

A former Catholic high school teacher, Becky DeKeuster co-founded the Wellness Connection of Maine and helped the dispensary obtain four of eight medical licenses available in the state in 2010.

She developed a high profile in Maine and nationally for her efforts to educate patients and the public, including setting up a program to serve patients in hospice care. She most recently served as education and patient liaison at the Wellness Connection.

DeKeuster said

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Maine cannabis pioneer embarking on new career path is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Ireland may legalize medical marijuana

Yet another country is now seriously considering legalizing cannabis for medical purposes: Ireland.

The small island nation’s parliament saw a bill introduced to legalize MMJ, and the minority government announced that it would not stand in the way of the measure, Reuters reported Thursday.

The nation’s health minister “accepted the central objectives of the legislation,” Reuters reported, though he said he would likely offer amendments before the bill is approved by lawmakers. His party’s government isn’t large enough to stop legislation.

“I share the concerns of patients who believe that cannabis should be a treatment option for certain

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Ireland may legalize medical marijuana is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Week in Review: Lift for New York MMJ market, another anti-cannabis Trump choice & Canada may pick know-how

By Omar Sacirbey, John Schroyer and Bart Schaneman

New York state’s lagging medical cannabis trade receives potentially good news, MJ industry insiders explain why we shouldn’t necessarily fear Donald Trump’s cabinet selections, and Canada’s adult-use proposal favors experienced producers.

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

Conditional love

Medical marijuana businesses in New York state, one of the most restrictive MMJ markets in the country, likely will receive a much-needed boost now that regulators have added chronic pain to the list of qualifying conditions.

In other states that allow patients to

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Week in Review: Lift for New York MMJ market, another anti-cannabis Trump choice & Canada may pick know-how is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Minnesota approves PTSD for medical cannabis program

Minnesota’s two medical marijuana producers will be getting a bigger patient base and more ways to deliver MMJ to patients under a new ruling released Thursday by the state’s health department.

Medical patients suffering from post-traumatic stress disorder will be able to start making MMJ purchases in August, and the two medical cannabis producers will be allowed to start manufacturing infused topical patches, creams and lotions, the Associated Press reported.

The state Department of Health announced the addition of PTSD to the qualifying condition list on Thursday but declined to add autism, arthritis and depression. Five other conditions

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Minnesota approves PTSD for medical cannabis program is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Marijuana-focused firm gets tepid response in NYSE debut

Innovative Industrial Properties became the first marijuana-related company Thursday to trade on the New York Stock Exchange, drawing a lukewarm reception from Wall Street investors.

The cannabis-focused real estate investment trust (REIT) closed down 4.25%. Trading under the ticker symbol IIPR, it finished the day at $19.15 per share, or 85 cents below its initial offering price of $20. The company’s shares briefly touched $20.52 after the opening bell but then dropped throughout the day.

The company, headquartered in San Diego but incorporated in Maryland, buys medical marijuana-related facilities and leases them. It had filed with the NYSE in

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Marijuana-focused firm gets tepid response in NYSE debut is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

New York adds chronic pain to medical cannabis conditions list

New York health regulators took a major step Thursday toward boosting the state’s fledgling medical marijuana industry by adding chronic pain to the list of treatable conditions for MMJ.

The state’s health department said it is drafting rules to allow doctors to recommend chronic pain, although it didn’t spell out the symptoms that will qualify, the Journal News reported. The state currently has 10 qualifying conditions for MMJ, including cancer, Lou Gehrig’s disease and epilepsy.

The addition of chronic pain could provide a major shot in the arm to New York’s medical marijuana market, which is

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New York adds chronic pain to medical cannabis conditions list is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs