MMJ Business Daily

Ohio on Verge of Creating One of Largest Medical Marijuana Markets in the U.S.

By John Schroyer

Ohio appears poised to become the newest state to approve a medical marijuana program, which could create one of the largest MMJ industries in the nation with patient numbers in the hundreds of thousands and annual sales in the hundreds of millions of dollars.

A medical marijuana bill approved by lawmakers last week stands a good chance of becoming law and is now the only legalization option left in the state for 2016.

The Marijuana Policy Project-backed campaign that was gathering signatures for a ballot measure this November halted its effort last weekend after

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Ohio on Verge of Creating One of Largest Medical Marijuana Markets in the U.S. is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Former NFL Star a Partner in San Francisco MJ Gym Venture

Former NFL running back Ricky Williams is one of the partners in the upcoming  San Francisco marijuana-friendly fitness center that an enterprising workout enthusiast has planned for this fall.

Williams, a longtime cannabis user who played for the Miami Dolphins and other pro teams, has not been shy about his love of marijuana. And he’s just the latest in a slew of celebrities that are working to capitalize on the new and growing industry.

The gym, called “Power Plant Fitness,” is slated to open somewhere in the San Francisco metro area in November, according to the Oregonian.

“Having (Williams)

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Former NFL Star a Partner in San Francisco MJ Gym Venture is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Israeli Medical Company Partners With New Mexico MMJ Company

An Israeli Israeli generic drugs and medical devices company has partnered with a New Mexico-based MMJ producer and dispensary operator in a bid to expand its interests across the globe.

Panaxia has perfected an extraction method that appealed enough to New Mexico’s Ultra Health that the two companies have teamed up to build a large processing plant on U.S. soil, according to the Israeli business website Globes.

Using Panaxia’s technology, Ultra Health will focus on developing precisely dosed medical products for New Mexico MMJ patients, Globes reported, by building a new processing facility in its home state. Ultra Health

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Israeli Medical Company Partners With New Mexico MMJ Company is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Illinois to Extend, Expand Medical Marijuana Program

State lawmakers from both parties in Illinois have agreed to extend Illinois’ medical marijuana pilot program to July 2020, and expanded the list of qualifying conditions to include post-traumatic stress disorder and terminal illness.

Lawmakers must still take a formal vote on the measure, but are expected to approve it, the Chicago Tribune reported.

Doctors also will no longer have to “recommend” cannabis, but just certify that there is a bona fide relationship with the patient, and that the patient has one of the program’s roughly 40 qualifying conditions. That nod to discretion is meant to alleviate apprehensions

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Illinois to Extend, Expand Medical Marijuana Program is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Massachusetts Cannabis Dispensaries Face Crackdown

Massachusetts regulators are vowing to crack down on medical marijuana dispensaries after some put low-income patients on waiting lists for discounted products.

The move by dispensaries led to delays that violate state MMJ laws,  the Boston Globe reported.  The paper found the delays persisted for months, meaning low-income patients didn’t get access to the discounted medical cannabis products.

The state’s MMJ program doesn’t put a cap on the number of patients eligible for medical cannabis discounts. The dispensaries had said their low-income programs were full, the Globe reported. State health department regulators will now scrutinize dispensary hardship programs as part

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Massachusetts Cannabis Dispensaries Face Crackdown is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

MPP Suspends Ohio Medical Cannabis Campaign

The Marijuana Policy Project announced it has suspended its Ohio campaign to legalize medical cannabis, leaving MMJ’s fate in Ohio to Gov. John Kasich.

The Republican governor must decide whether he will sign into law a medical marijuana legalization measure the Ohio legislature approved last week.

MPP had been backing Ohioans for Medical Marijuana, the formal campaign to legalize medical cannabis in the state this November. Until Saturday, it looked as though it was well on its way to making the ballot and winning decisively, with polls solidly in favor of medical cannabis.

But MPP changed its mind after

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MPP Suspends Ohio Medical Cannabis Campaign is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

The Future of MMJ in Los Angeles: Q&A with Attorney Ariel Clark

By John Schroyer

The city of Los Angeles is a regulatory mess when it comes to medical marijuana.

Since the passage of the statewide Medical Marijuana Regulation and Safety Act (MMRSA) last September, hundreds of MMJ businesses in the state’s most populous city have been wondering how the upcoming rules will affect them.

Because California went two decades without having any state oversight or regulations, localities – including L.A. – have had to deal with the situation themselves. Now, L.A. officials are trying to figure out the best way forward, which may include eventually granting formal

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The Future of MMJ in Los Angeles: Q&A with Attorney Ariel Clark is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

SEC Files Charges Over Alleged MMJ Investment Scam

Wall Street regulators filed civil fraud charges against a company and four people allegedly caught up in a scheme to bilk investors out of nearly a million dollars through a company purported to be a Massachusetts medical cannabis venture.

The Securities and Exchange Commission charged that the head of the operation raised $550,000 from investors between 2011 and 2012 through a Denver company, Lionshare Ventures, the Boston Globe reported. The man used the money for unauthorized expenses like groceries and pet care, the SEC said.

He also allegedly used the money to take control of a firm called Cannabiz Mobile

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SEC Files Charges Over Alleged MMJ Investment Scam is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Dozens of Toronto Medical Cannabis Dispensaries Raided

Dozens of medical marijuana dispensaries were raided on Thursday in Toronto, as local authorities carried out their threat to crack down on what is technically an illegal industry under Canadian federal law.
The Star reported that local police were mum…

Week in Review: OH Lawmakers Okay MMJ, Nasdaq says No to MassRoots & MMJ for Vets

By John Schroyer and Omar Sacirbey

Ohio lawmakers pass a medical marijuana bill in an bid to undercut a ballot measure, MassRoots Nasdaq listing nixed again, and Congress moves to give military veterans easier access to medical cannabis.

Here’s a closer look at several notable developments in the marijuana industry over the past week.

Head ‘Em Off at the Pass

The Ohio legislature, in an attempt to head off a medical cannabis legalization ballot measure penned by Marijuana Policy Project, this week gave the final stamp of approval to a much more limited MMJ system of its

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Week in Review: OH Lawmakers Okay MMJ, Nasdaq says No to MassRoots & MMJ for Vets is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs