MMJ Business Daily

Jamaica receives 89 MMJ business permit applications

Jamaica’s medical cannabis licensing process is underway, and by the end of October 89 applications for business permits had been submitted to the tiny island nation’s government.

The Jamaican Cannabis Licensing Authority (CLA) announced it had received 25 applications for cultivation licenses, eight for transportation permits, 14 for research and development licenses and 24 for retail permits, according to the Jamaica Observer.

The agency said it expects to issue conditional permits before the end of the year, the newspaper reported.

The CLA will be issuing 11 different types of cannabis-related business permits, according to its website, including

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Jamaica receives 89 MMJ business permit applications is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Legal uncertainty for marijuana industry after Trump election, conference panelists say

By John Schroyer, Bart Schaneman, and Omar Sacirbey

Uncertainty.

That’s the easiest way to summarize the legal climate for cannabis entrepreneurs after Donald Trump’s election as president, according to a panel of political experts Wednesday at the Marijuana Business Conference & Expo in Las Vegas.

While those on the panel generally agreed the marijuana industry isn’t going anywhere, there could be some major bumps in the road ahead – especially depending on whom Trump appoints to key positions and who’s able to get his ear on cannabis reform.

But the panel was also sharply divided on key points, including whether a

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Legal uncertainty for marijuana industry after Trump election, conference panelists say is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Legal options under a Trump administration: Q&A with attorney Henry Wykowski

By John Schroyer

Now that questions have surfaced about the future of the industry under a potentially hostile White House run by President-elect Donald Trump, Marijuana Business Daily asked famed attorney Henry Wykowski what he believes the future holds for cannabis companies.

And by and large, Wykowski – arguably one of the most successful cannabis industry attorneys in history with landmark rulings over the federal government, including a major victory over the IRS in 2007 – was optimistic.

But there’s one key Congressional vote coming up, probably in December, that could prove critical for marijuana businesses, said the San

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Legal options under a Trump administration: Q&A with attorney Henry Wykowski is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Berlin aims for piloted plan for ‘controlled distribution’ of cannabis

Three left-of-center political parties in the German capital of Berlin have agreed to work together to develop a program for the regulated distribution of adult-use cannabis in the city.

Bendikt Lux, a Berlin city assembly representative from the Green Party, said his party has joined with the Social Democrats and The Left to seek a “scientifically monitored pilot project for the controlled distribution of cannabis to adults,” according to German press reports.

There have been similar efforts by districts in German cities, but those have failed because of the country’s Federal Intoxicants Law, which prohibits cannabis.

Berlin officials

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Berlin aims for piloted plan for ‘controlled distribution’ of cannabis is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Exclusive estimates: CA will account for half of retail marijuana sales stemming from election

By Marijuana Business Daily staff

California’s recreational cannabis industry could eventually generate between $4.5 billion and $5 billion in annual retail sales, making it by far the most attractive market for business opportunities of the states that legalized last week, according to estimates released Wednesday.

Marijuana Business Daily’s editorial director, Chris Walsh, revealed the projection during his speech Wednesday at the Marijuana Business Conference & Expo in Las Vegas.

“It’s clear – California is going to reclaim its mantle as the capital (of the cannabis trade),” Walsh said during his keynote address at the conference Wednesday morning.

He also

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Exclusive estimates: CA will account for half of retail marijuana sales stemming from election is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Rec and MMJ legalization bills introduced in Texas

In what could be the start of a string of post-2016-election ripple effects, a pair of cannabis legalization bills have been introduced in the Texas Legislature – one to allow medical marijuana and another to legalize adult use.

The bills may prove to be mostly symbolic in the end, given the legislature’s conservative makeup. But the fact that a pair of legalization measures were introduced Monday – less than a week after eight state cannabis ballot measures were approved by voters across the country – means industry watchers can expect similar attempts in other state legislatures around the

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Rec and MMJ legalization bills introduced in Texas is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Grower surpasses 1 billion Canadian dollars in valuation

Canopy Growth Corp., the federally licensed Canadian cultivator that made history earlier this year when it listed on the Toronto Stock Exchange, distinguished itself again Monday when its stock closed at 11.16 Canadian dollars, making it the first cannabis company to be valued at more than $1 billion ($743,060,740).

Canopy is now valued at almost CA$1.3 billion, according to CBC News. The Smith Falls, Ontario, company reported a profit of CA$5.4 million for the quarter that ended Sept. 30 stemming from almost CA$8.5 million in revenue.

Canopy has nearly quadrupled its patient count from 6,200 patients one year

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Grower surpasses 1 billion Canadian dollars in valuation is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Maine governor to query Trump on marijuana stance

Maine’s governor Paul LePage plans to ask President-elect Donald Trump if the Trump administration will enforce federal law on marijuana before LePage decides if he will challenge the state’s vote last week to legalize cannabis.

The answer to LePage’s question for Trump is of large interest to the cannabis industry as a whole, as Trump has not announced his cabinet appointments nor his official stance on marijuana.

Maine voted 381,060 in favor and 376,658 opposed, a margin of less than 1%, on the Nov. 8 ballot question to legalize marijuana for adults 21 or older.

In

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Maine governor to query Trump on marijuana stance is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Update: Denver’s public-use cannabis initiative passes

Denver voters have passed an initiative to allow cannabis consumption in public businesses such as bars and restaurants, overcoming initial predictions the measure faced an uphill battle.

As of 2 a.m. ET on Tuesday, Initiative 300 had received 53.31% of the approximately 302,000 votes that had been counted. The official election results won’t be certified until Nov. 22.

Denver Relief Consulting, the lead proponent of the initiative, declared victory, adding that it was a win for Denver adults who can “now gather socially and use products of their choice.”

The yes vote makes the Mile High City the

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Update: Denver’s public-use cannabis initiative passes is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Colorado gov calls for increased enforcement on MJ ‘gray market’

Colorado Gov. John Hickenlooper called for increased state-level enforcement to battle the cannabis “gray market” and said those who refuse to abide by the law represent a “clear and present danger.”

Hickenlooper’s statement Monday, coming after last week’s huge electoral victories across the nation for the marijuana industry, underscores the still-tentative legal status of the entire cannabis market.

The central problem is those who grow cannabis legally but then sell their crops on the black market. Hickenlooper’s administration is considering supporting changes to who is permitted to grow MJ at home, as well as the number

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Colorado gov calls for increased enforcement on MJ ‘gray market’ is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs