MMJ Business Daily

Israeli pharmacies to start selling medical cannabis

Israeli pharmacies are gearing up to sell medical marijuana across the nation under the government’s ongoing efforts to liberalize the use and sale of MMJ.

Super-Pharm, which has 225 branches across Israel, has been consulting with the nation’s health ministry to allow prescription and provision of medical marijuana by authorized doctors and pharmacists, Israel’s Haaretz newspaper reported.

The paper also reported that Super-Pharm and government officials are in talks over plans for the company to distribute and sell medical cannabis.

While cannabis use in Israel is illegal, medicinal marijuana is legal, and some 27,000 people have received the

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Israeli pharmacies to start selling medical cannabis is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Australian MMJ company lists stock, which soars

An Australian developer of marijuana-based medicines that debuted on the Australian Securities Exchange Thursday saw its stock soar 38% above its offering price before settling in to close 30% above its listing price.

The Sydney Morning Herald valued Creso Pharma at about $11.5 million Australian dollars (about $9.7 million).

The company listed on the ASX with an issue price of AU$0.20 cents per share but the offering was heavily oversubscribed, according to the Sydney Morning Herald, pushing up its opening price for the day to AU$0.25 cents. The West Perth-based company hit a high of AU$0.275 cents

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Australian MMJ company lists stock, which soars is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

How the marijuana industry can keep its magic: Interview with Penn Jillette

By Bart Schaneman

Penn Jillette is perhaps best known for the popular magic shows he’s been performing in Las Vegas with sidekick Teller for more than 20 years.

But he’s also become a household name for his strong opinions, including a long-held belief that marijuana should be legal.

The 61-year-old atheist, skeptic, Libertarian and free-market capitalist has never taken a puff of cannabis himself. But he says his life has been bettered by the creativity that artists and innovators have discovered while inspired by marijuana.

He now hopes the entrepreneurs fueling the industry’s growth can keep that spirit of passion and innovation while

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How the marijuana industry can keep its magic: Interview with Penn Jillette is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Polls: Marijuana legalization gaining steam nationally and in MA

Two new polls show cannabis gaining major ground with U.S. voters, with one finding that 60% of Americans want marijuana legalized and another discovering 55% support in Massachusetts for a ballot measure that would legalize recreational cannabis.

The national poll, by Gallup, represents the broadest support for cannabis legalization in the United States since Gallup began asking voters about it in 1969. That year, support registered at 12%, the Washington Post reported.

It’s also an increase from a poll released a week ago, by the Pew Research Center, which found that 57% of American adults

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Polls: Marijuana legalization gaining steam nationally and in MA is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

GW Pharma scuttles UK listing to trade on US market

GW Pharmaceuticals, a high-flying biotech firm in the United Kingdom that is seeking U.S. regulatory approval for a CBD-based drug, has abandoned its U.K. stock market listing to instead trade exclusively in the United States.

The firm announced it would ditch its Aim market listing this December, according to Britain’s Telegraph newspaper.

A company executive said it no longer needed a dual listing because the majority of its shares are now traded on the Nasdaq and held by U.S. investors.

GW Pharma is developing Epidiolex, a cannabis-based epilepsy drug for children. If approved by the U.S. Food and

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GW Pharma scuttles UK listing to trade on US market is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Cannabis REIT files to be listed on NYSE

A cannabis-focused real estate investment trust has filed to list its shares on the New York Stock Exchange.

If approved, it would be the first marijuana-related company to list on the Big Board.

Innovative Industrial Properties, headquartered in San Diego but incorporated in Maryland, filed documents with the Securities and Exchange Commission on Monday saying it plans to sell 8.75 million shares at $20 per share, according to Forbes. New Cannabis Ventures first reported the story.

The offering would value the company at $200 million.

The company’s first tenant is PharmaCann, which has marijuana business operations in Illinois and

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Cannabis REIT files to be listed on NYSE is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

San Jose permits cultivation, deliveries for MMJ collectives

The City Council in San Jose, California, gave preliminary approval Tuesday to allow the city’s 16 registered medical marijuana collectives to run two cultivation sites and make deliveries to patients or caregivers.

The new rules, which require final approval next week, allow deliveries, but they can be made only between 8 a.m. and midnight, the San Jose Mercury News reported. Delivery drivers must be employed by the collectives and undergo a background check, while their vehicles must be inspected by San Jose police, according to KTVU.com.

The new rules likely won’t take effect until early 2017, a spokesman for

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San Jose permits cultivation, deliveries for MMJ collectives is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Could Florida’s medical marijuana industry be a gold mine only for a few?

By John Schroyer

Many in the medical cannabis trade have long viewed Florida as a plum waiting to be picked, a potentially ripe market for both new companies and existing marijuana businesses elsewhere given the state’s massive population and heavy concentration of seniors.

But the business opportunities could be much more limited than expected.

If Florida voters pass an MMJ initiative in November, the state’s medical cannabis program could end up resembling New York’s tightly controlled system more than Colorado’s free-market approach in terms of  the number of business licenses available, depending on how regulators decide to approach medical

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Could Florida’s medical marijuana industry be a gold mine only for a few? is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Oregon recreational cannabis sales hit $160 million

Oregon’s emerging recreational marijuana industry has surpassed $160 million in sales for 2016 by the end of September.

Those numbers could be even bigger in reality, however, because the Oregon Department of Revenue is still waiting on some cannabis businesses to file quarterly tax returns from earlier in the year. An agency spokeswoman said that only 80% of medical dispensaries selling rec have filed returns for the first quarter of 2016.

Hundreds of medical dispensaries in Oregon have been selling limited amounts of adult-use products – mostly flower, but also edibles and extracts, since June – for more than a

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Oregon recreational cannabis sales hit $160 million is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Texas authorities won’t act against pharmacy selling hemp oil products

The Texas Department of Public Safety has opted against pursuing legal action against an Austin pharmacy that sold products crafted from hemp oil, citing “ambiguities” over the status of CBD products under state law.

The decision spurred one statewide hemp industry advocacy group to renew calls for Texas legislators to clarify laws around the cultivation, manufacture and use of hemp products, according to the Austin Business Journal.

In September, safety department officers visited four Peoples Pharmacy stores. The officers confiscated products containing CBD but not THC.

“Given certain ambiguities regarding the status of CBD under the Texas Controlled

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Texas authorities won’t act against pharmacy selling hemp oil products is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs