MMJ Business Daily

Kentucky hemp program taking cultivation applications

Want to grow hemp? Kentucky might be a solid bet, especially given that it has one of the nation’s largest hemp crops.

The state’s Department of Agriculture is now accepting applications from anyone interested in participating in the 2017 hemp-growing pilot program, which will likely result in thousands of acres being planted, if 2016 is any gauge.

This past year, the state authorized up to 4,500 acres of industrial hemp to be grown, but only about 2,350 were actually planted, WTVQ reported. Although that number may sound small, the program began with just 33 acres in 2014.

While

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Kentucky hemp program taking cultivation applications is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Poll: Majority of Americans favor rec marijuana legalization

As five states prepare to vote on legalizing recreational marijuana in November, a new Pew Research Center poll shows the majority of Americans favor legalization.

According to Pew, 57% of Americans say marijuana should be legal, with 37% opposed. Ten years ago the numbers were flipped, with 60% saying it should be illegal and 32% in favor of legalization. The latest poll was conducted Aug. 23-Sept. 2 among 1,201 U.S. adults.

Half the states have legalized marijuana in one form or another, and three more will vote to legalize medical marijuana this fall. Montana will vote on legalizing MMJ dispensaries.

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Poll: Majority of Americans favor rec marijuana legalization is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Cayman Islands clears way for use of medicinal cannabis oil

Cayman Islands lawmakers have cleared the way for legalization of medicinal cannabis oil, but questions remain about where the country will obtain it.

Lawmakers approved a second reading of a bill Monday that would allow cannabis oil to be prescribed by local doctors and sold by pharmacies on the Caribbean island to cancer patients and others, according to the Cayman Compass.

Premier Alden McLaughlin said the legislation may need to be amended before final passage to address issues surrounding the sourcing of cannabis oil, according to the Cayman Compass.

The oil isn’t manufactured on the island, and importing

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Cayman Islands clears way for use of medicinal cannabis oil is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

UK to legalize CBD-based products as medicine

The United Kingdom’s top medical products regulatory authority has ruled that CBD and products containing the cannabis compound will now be treated as medicine.

The announcement, however, doesn’t mean consumers will suddenly be able to buy CBD-infused products. Medicine makers will have to prove their CBD products meet safety, quality and effectiveness standards, the BBC reported Tuesday.

It also means anyone caught selling or advertising CBD products in the UK without a license from the Medicines & Healthcare products Regulatory Agency (MHRA) could face an unlimited fine and up to two years in prison, the BBC said.

The MHRA

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UK to legalize CBD-based products as medicine is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Pueblo vote on rec marijuana ban could have fallout for CO

By Bart Schaneman

Residents of Pueblo County, Colorado, will vote next month on whether to ban the county’s existing recreational marijuana industry, a decision that could have economic ramifications for the entire state.

The state would lose a major marijuana supply source for rec cannabis if Ballot Question 200 passes Nov. 8, industry officials say.

It could also eliminate more than a thousand jobs in Pueblo County, they warn, and cost the southern Colorado county millions of dollars in revenue.

According to Mark Slaugh, executive director of the Cannabis Business Alliance, a Colorado-based trade group, Pueblo County supplies an estimated 30%

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Pueblo vote on rec marijuana ban could have fallout for CO is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

DC medical cannabis industry could benefit from rule change

The five medical cannabis dispensaries in the nation’s capital could be in for a major uptick in business if a proposed local rule change for the industry becomes law.

The Medical Marijuana Reciprocity Amendment of 2015, which passed first reading in the Washington DC City Council on Tuesday, would allow dispensaries to serve registered MMJ patients from other states and also allow local registered patients to make purchases from more than a single dispensary.

The same bill also would remove the current plant count limit for medical cannabis cultivators, create an MMJ lab testing system, allow dispensaries to

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DC medical cannabis industry could benefit from rule change is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

MMJ polling at 77% in Florida, union endorses Nevada rec

The news continues to improve for pro-cannabis state campaigns in advance of Election Day in November.
In Florida, 77% of state voters say they plan to support the medical marijuana legalization initiative Amendment 2, according to a new poll from the …

Former High Times exec sues for $6M in damages

Bad times for High Times?

David Kohl, a veteran media executive whose resume includes stints at Viacom, Vivendi and Xbox, is suing Trans-High Corp., the parent company of High Times magazine, for wrongful termination, according to the New York Post.

Kohl, who served as CEO of High Times, was fired without notice in March, and is now seeking $6 million in damages, claiming he wasn’t paid his full severance package.

In a filing with the Manhattan Supreme Court, Kohl charged he was hired to diversify company operations and raise capital, but found an unprofessional and lackadaisical culture. Not

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Former High Times exec sues for $6M in damages is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Cultivator Aurora Cannabis raises 25M Canadian dollars

Alberta, Canada-based medical marijuana cultivator Aurora Cannabis announced Tuesday that it plans to raise 25 million Canadian dollars ($19 million) in a private placement of convertible debentures.

The debt instruments mature in two years and can be converted into shares priced at CA$2.

Under the terms of the private placement, Aurora said in a press release, it also plans to convert CA$10 million of preexisting convertible debentures, with annual 10% interest rate, into about 8,695,652 additional common shares.

Aurora, which trades on the Toronto Venture Exchange, will use the proceeds mainly for expansion and “working capital,” the release said.

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Cultivator Aurora Cannabis raises 25M Canadian dollars is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Delays, diversity and potential: Q&A with Maryland marijuana consultant Ivan Lanier

By Omar Sacirbey

Ivan Lanier, founder of Greenwill Consulting Group in Maryland, and daughter Jeanette Ortiz have built a client list that includes companies from heavily regulated sectors including pharmaceuticals and gaming.

So when two entrepreneurs approached Lanier about applying for medical marijuana business licenses under Maryland’s new MMJ program, Lanier said Greenwill could help.

“I won’t jump into anything if I don’t think I’m going to win,” said Lanier, who founded Greenwill in 2002 and is the CEO.

The two Maryland entrepreneurs were: Dr. Kimberly Brown, president of Amethyst Technologies, which provides compliance and other services to pharmaceutical and

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Delays, diversity and potential: Q&A with Maryland marijuana consultant Ivan Lanier is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs