Privateer Holdings, a cannabis-focused private equity firm in Seattle, announced Friday it has closed on $40 million in convertible bridge financing, bringing its fundraising total to $122 million.
The news marks the first time a cannabis-related inves…
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Out-of-state-donors, including some prominent marijuana businesses, have pumped money into the campaign to legalize medical marijuana in Florida, underscoring the high-stakes fight in that state.
Of the three states – Florida, Arkansas and North Dakota – that could legalize medical marijuana on Tuesday, Florida is by far the largest market and offers out-of-state cannabis businesses potentially lucrative opportunities.
Denver-based social media company MassRoots, Denver edibles firm Allied Concessions Group and Washington State-based Privateer Holdings have all contributed funds to United for Care, the political committee supporting Florida’s medical cannabis campaign, according to the Tampa Bay Times.
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Marijuana firms across nation fund pro-MMJ bid in Florida is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
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By Omar Sacirbey, John Schroyer and Bart Schaneman
Ohio issues drafts rules for medical marijuana growers, a federal judge tosses a lawsuit against a Bay Area dispensary, and a raid by law enforcement in Northern California triggers a legal spat.
Here’s a closer look at some notable developments in the marijuana industry over the past week.
Ohio growers: ‘Too few, too small’
Cultivation professionals mulling whether to apply for a license in Ohio have some information to work with now that that state has released draft regulations for medical marijuana growers. But the proposed rules may cause some growers to
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Week in Review: Ohio’s MMJ plan may shortchange growers, a California win & a legal brouhaha is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
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San Jose, the third-largest city in California, on Tuesday joined the list of municipalities statewide to slap a temporary ban on adult-use cannabis businesses before Election Day.
San Jose has joined other California cities in imposing temporary bans and controls on recreational marijuana in advance of Tuesday’s election, when California voters will decide whether to legalize rec cannabis.
San Jose City Council members said they passed the temporary ban to give local officials time to draft marijuana business regulations and to head off a proliferation of unlicensed cannabis stores, the San Jose Mercury News reported.
Two years ago, San
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San Jose latest California city to temporarily ban rec cannabis is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
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Michigan’s medical marijuana program has come under criticism after a state audit found that a small number of doctors were responsible for certifying tens of thousands of patients for MMJ, a finding that raises questions about the state’s oversight of the industry.
An audit by the state of Michigan released Thursday found that one physician certified more than 11,800 medical marijuana patients in one year, or about 14% of all the medical cannabis patients in the state.
Another 22 doctors certified almost 47,000 patients in 2015, or about 56% of all patients, the audit said, according to
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Michigan MMJ program criticized for doctor certifications is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
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Denver’s Office of Marijuana Policy will be folded into the Department of Excise and Licenses and both will operate under the direction of a newly promoted boss starting Monday.
Denver Mayor Michael Hancock said Stacie Loucks is stepping down as director of excise and licenses, effective Friday, and Ashley Kilroy, the city’s marijuana policy adviser, will head both departments, according to the Denver Business Journal.
Hancock praised Kilroy’s experience and said the department – which licenses a variety of business – will remain in good hands. In his statement, the mayor said: “Ashley has proven
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Denver’s marijuana policy office merges with licensing office is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
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By Bart Schaneman
Cannabis entrepreneurs hoping to enter Australia’s new medical marijuana market will confront obstacles at the federal and state level, with industry observers predicting a limited number of big companies will come to dominate the business.
Australia’s MMJ market also is expected to develop slowly, given complex licensing procedures and strict, costly regulations.
MMJ dispensaries will be absent from the market, under rules unveiled by the federal government on Oct. 30. Pharmacies will instead sell MMJ to patients, who must get a doctor’s prescription to receive the medicine.
Growers will face stringent licensing requirements. And before
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Australia’s MMJ market likely to develop slowly, with big players dominating is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
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The Los Angeles City Council took a big step toward creating possibly the largest legal cannabis market in the United States, if not the world.
The council voted Tuesday to develop a March ballot measure asking city voters to repeal a 2013 ordinance that both bans medical marijuana businesses and grants “limited immunity” from prosecution to 135 dispensaries, L.A. Weekly reported.
The move was proposed by Council President Herb Wesson, whose measure is called the Cannabis Enforcement, Taxation and Regulation Act. If voters give a thumbs up, the initiative would repeal Proposition D on July 31, 2018, and would
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L.A. council to ask voters to legalize more MMJ dispensaries is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
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Talk about an international operation.
An Australian nutraceutical company that manufactures hemp-based CBD products in Switzerland is planning to sell them in the Czech Republic, according to a news release from the company, Creso Pharma.
Creso, a public company that trades on the Australian stock exchange, said it has signed a distribution agreement with the Czech company MEDI-IN s.r.o. to distribute CBDium, a “food supplemental health product,” in more than 300 retail outlets within the Czech Republic.
The move became possible after Creso acquired a company in Slovakia called Hemp-Industries, Creso’s chairman and co-founder said in
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Australian CBD producer to distribute in Czech Republic is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
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The Anchorage Assembly has postponed the opening of what would have been the city’s first recreational marijuana shop, alleging that the store owner violated state laws by giving away free samples.
Assembly members unanimously passed a resolution Tuesday night to suspend final inspections that are required for Arctic Herbery to open for business, according to Alaska Public Media. The assembly passed the resolution after the Alcohol and Marijuana Control Office issued two violations in two weeks against store owner Bryant Thorp for handing out free samples to customers.
Thorp apparently did not try to conceal his
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Free samples stall Anchorage rec marijuana store’s opening is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
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