MMJ Business Daily

Survey: Minnesota MMJ Companies Satisfying Customers

A solid 90% of medical marijuana patients in Minnesota said they’ve received “some benefit” from the MMJ they’ve purchased from the state’s two licensed producers, suggesting that the cannabis industry is meeting customers’ needs.

The figure comes from a survey of 435 MMJ patients by the state’s health department, City Pages reported.

Of the 90% that reported a positive experience, 24% said they’d had “mild to moderate” improvement in their medical condition, while 66% said they’d experienced a “significant” improvement by using cannabis.

More than 80% of HIV/AIDS patients reported a “great deal of benefit” from MMJ, while 55% of

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Survey: Minnesota MMJ Companies Satisfying Customers is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Louisiana’s Medical Marijuana Law Not Perfect But Workable, Supporters Say

By John Schroyer

Should Louisiana be classified as the 25th state to pass a workable medical cannabis law?

Some advocates say no, arguing that Louisiana lawmakers have not passed a measure to protect businesses and professionals from prosecution. Others, however, are convinced that an MMJ industry will emerge regardless.

“It’s not anywhere near where we want it to be, but I do believe … it will work,” said David Brown, director of Sensible Marijuana Policy for Louisiana (SMPL).

“It will fly,” he added, “though certainly low to the ground.”

Louisiana state Sen. Fred Mills, the sponsor of two bills

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Louisiana’s Medical Marijuana Law Not Perfect But Workable, Supporters Say is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Michigan Officials Nix Campaign’s Rec Marijuana Ballot Petition

A Michigan campaign with an eye on legalizing adult-use cannabis in November is promising legal action against the state after the Bureau of Elections rejected its petition to get a spot on the fall ballot.

MILegalize, which submitted roughly 354,000 signatures less than a week ago, was informed Tuesday that it’s about 106,000 signatures short of the required 252,523 it needs to qualify for the ballot.

But campaign leaders vowed to keep fighting, and said they expected to wind up in court, according to the Detroit Free Press.

MILegalize Chairman Jeffrey Hank said his organization plans on filing suit

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Michigan Officials Nix Campaign’s Rec Marijuana Ballot Petition is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Tacoma To Go After Unlicensed Marijuana Stores

Tax and license compliance officers in Tacoma, Washington, will soon start inspecting all known marijuana retailers in the city, and issue suspension letters to those found operating without a license.

Receiving such a letter means the store must be closed immediately, the Tacoma News Tribune reported. Stores caught operating after getting a suspension letter from the city could face fines of $250 per day. The inspections are set to begin July 1.

The enforcement effort stems from a 2015 state law that merges the medical and recreational sides of the state’s cannabis industry. The law also states that stores

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Tacoma To Go After Unlicensed Marijuana Stores is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Vermont Expands Medical Marijuana Conditions List

Vermont Gov. Peter Shumlin signed into law legislation expanding the list of qualifying conditions eligible for treatment with medical marijuana, a move that will benefit local dispensaries by significantly increasing the program’s patient base.

The new law adds glaucoma and chronic pain to the list of approved conditions, while patients under hospice care also are eligible to use medical cannabis, the Associated Press reported.

Existing conditions include wasting syndrome, cancer, HIV/AIDS, multiple sclerosis, seizures, severe pain, and severe nausea, according to the bill.

The new law also mandates childproof packaging and increased labeling for marijuana-infused products sold at dispensaries.

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Vermont Expands Medical Marijuana Conditions List is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

10th Poll in Two Years Shows Majority Favor Legal MJ

At least 10 national polls since mid-2014 have now found a majority of Americans favor legalizing cannabis.

The latest, from Quinnipiac University, was released Monday morning, and found that overall 54% of U.S. voters believe marijuana should be legalized, and an overwhelming 89% support legalizing cannabis for medical use.

From May 24 – 30, Quinnipiac  surveyed 1,561 registered voters nationwide with a margin of error of plus or minus 2.5 percentage points.

The Quinnipiac poll underscores one of the reasons that many in the legal cannabis industry are extremely confident heading into the 2016 election season, which could see

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10th Poll in Two Years Shows Majority Favor Legal MJ is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

New Mexico’s Medical Marijuana Industry Surging

By Omar Sacirbey

New Mexico’s nine-year-old medical marijuana market is sprinting ahead as if it had just opened, thanks to a 70% jump in new patients over the past year.

Sales via dispensaries hit nearly $10 million in the first quarter – almost double the total from the same period in 2015. 

The growth has enabled marijuana businesses to expand, though companies are still having trouble keeping up with demand.

“Things have taken off,”said Duke Rodriguez, CEO of Ultra Health, a cultivator and dispensary owner. “Demand has been amazing.”

According to a May 26 state report on New Mexico’s MMJ

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New Mexico’s Medical Marijuana Industry Surging is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Three Marijuana Campaigns in Montana Still Gathering Signatures

A trio of marijuana-related campaigns – two in favor of legalization and one against – are scrambling to get the requisite number of signatures in advance of a June 17 deadline for putting the issue on the November ballot.

One, spearheaded by the anti-cannabis Safe Montana, would repeal the state’s medical marijuana law, which voters approved in 2004.

Of the two pro-marijuana measures, the one that looks the most likely to make the ballot would essentially reverse the state Supreme Court ruling from February that dealt a death blow to the MMJ dispensary industry. The campaign has been

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Three Marijuana Campaigns in Montana Still Gathering Signatures is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Canadian MMJ Producer Announces $5M Equity Deal

One of Canada’s few licensed medical marijuana producers, Aurora Cannabis, said it has secured a $5 million equity investment from a New York-based investment firm, Alumina Partners

The deal calls for Alumina to purchase $5 million in shares and warrants from Aurora, a publicly traded company on the Canadian Securities Exchange under the ticker symbol ACB.

In a news release, Aurora said the deal will give it “financial flexibility and unilateral control over the financing of its working capital requirements, and provide access to capital.”

Aurora already operates a 55,200 square foot cultivation facility in Alberta, and the deal suggests the

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Canadian MMJ Producer Announces $5M Equity Deal is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Chart of the Week: Snapshot of Increased Investment Activity in the Marijuana Industry

By Marijuana Business Daily staff

The cannabis industry is becoming increasingly attractive to investors, who are pumping more money than ever into marijuana companies.

One indication of the increased activity: In 2015, cannabis companies secured more than $215 million in venture capital, according to data from the investment research firm CB Insights. 

The infusions came in the form of 98 separate investment deals, including 30 in the fourth quarter alone.

By comparison, CB Insights – which tracks venture capital investments in the United States – reported just nine deals totaling a mere $9 million for all of 2013.

Chalk up

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Chart of the Week: Snapshot of Increased Investment Activity in the Marijuana Industry is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs