MMJ Business Daily

High Times Teams With Madison Ave. To Get Its Message Out

Longtime cannabis advocate publication High Times has teamed with Madison Avenue to get its message heard on Main Street.

The magazine partnered with Sparks & Honey, an Omnicom advertising agency, to release a report called “Rebranding Marijuana” on April 20, according to the New York Times.

The goal: “to make pot more palatable to mainstream Americans,” the Times reported.

The end result is a $500 report from the ad firm that’s available online. It it focuses on future business opportunities that run the gamut and have almost no connection to the outlaw cannabis culture of years past.

High Times wants

High Times Teams With Madison Ave. To Get Its Message Out is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

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Colorado’s Cannabis Industry Under Attack on Several Fronts

By John Schroyer

On the surface, it might appear that Colorado’s $1 billion marijuana industry has been unencumbered by legal roadblocks or political opposition, given its speedy growth in recent years.

Nothing is further from the truth, however, particularly for the state’s recreational cannabis sector.

Nearly three out of every four municipalities in Colorado have banned recreational marijuana businesses since voters in the state approved adult-use cannabis more than three years ago.

Business owners also continually must confront new regulations and attempts by citizens and local lawmakers to trim the industry’s wings.

In fact, the pushback against the industry

Colorado’s Cannabis Industry Under Attack on Several Fronts is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

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Walgreens Broaches Topic of Medical Cannabis On Its Blog

Walgreens, the nation’s largest drugstore chain, has dipped its toes into the cannabis conversation through an unexpected article about medical marijuana on its health and wellness blog.

The blog post, entitled “What is Medical Marijuana, is far from a ringing endorsement of MMJ. But it’s noteworthy because the company essentially acknowledged that cannabis has medical benefits, a potential plus for the medical marijuana industry. And it’s another sign of how far cannabis has moved into the mainstream in recent years.

“Though marijuana has been approved for medical use in many states, marijuana is not yet approved for national use

Walgreens Broaches Topic of Medical Cannabis On Its Blog is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

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Marijuana Website Wikileaf is Bought By Canadian Firm

Nesta Holding Co. has acquired Wikileaf.com, a website offering Priceline-style marijuana deals at local dispensaries.

Forbes said terms for the previously unreported deal, which occurred in December, weren’t disclosed.

Launched in 2014, Seattle-based Wikileaf allows patients and recreational customers to specify how much they want to spend in general on cannabis. It then returns a list of offers from nearby dispensaries, based on how many grams you can get at that price point.

Nesta is a Canadian private equity firm headed by Chuck Rifici, the co-founder of Canadian medical marijuana cultivator Tweed Inc. Tweed is a subsidiary of

Marijuana Website Wikileaf is Bought By Canadian Firm is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

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Colorado Credit Union Appeals Federal Judge’s Ruling

The Fourth Corner Credit Union in Colorado has appealed a federal judge’s decision to dismiss a lawsuit the upstart financial institution had filed in an effort to provide financial services to cannabis companies.

U.S. District Judge R. Brooke Jackson in January threw out Fourth Corner’s suit seeking a so-called master account with the

Colorado Credit Union Appeals Federal Judge’s Ruling is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

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SEC Halts Trading in Cannabis Firm Pineapple Express

The U.S. Securities and Exchange Commission has temporarily suspended trading in Pineapple Express, a cannabis consulting and investment company headquartered in Los Angeles.

The agency said it did so “because of recent, unusual and unexplained market activity in the company’s stock that raises concerns about the adequacy of publicly-available information regarding” Pineapple Express.

The suspension took effect at 9:30am on April 28, and will stay in effect until 11:50 pm on May 11. Before the suspension, the company’s stock price was $9.15. It trades under the ticker symbol PNPL.

On the day of the suspension, Pineapple Express

SEC Halts Trading in Cannabis Firm Pineapple Express is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

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Chart of the Week: Huge Spike in Number of Banks, Credit Unions Serving Cannabis Companies

By Omar Sacirbey

The number of banks and credit unions providing services to marijuana businesses has grown dramatically over the past 24 months, providing some much-needed relief to the cannabis industry.

In March of this year, 301 financial institutions were working with marijuana companies, according to federal data obtained by the Associated Press.

That’s up from just 51 in March 2014 and a three-fold increase from later that year, when an estimated 100 banks and credit unions worked with the industry.

The increased access to banking services is no doubt an immensely positive development for

Chart of the Week: Huge Spike in Number of Banks, Credit Unions Serving Cannabis Companies is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

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IL Again Weighs Expanding MMJ Qualifying Conditions

Medical marijuana businesses in Illinois hope the third time’s a charm for expanding the state’s list of approved conditions for MMJ treatment.

The state’s Medical Cannabis Advisory Board will meet Monday on whether to add 15 new conditions to the current list of 39 approved conditions, according to the Associated Press.

The proposed conditions include: chronic pain, migraines, post-traumatic stress disorder, irritable bowel syndrome, Lyme disease, osteoarthritis, autism, chronic low-level depression, and diabetes.

The board has approved many of these conditions twice before.

But the director of the state’s health department, Nirav Shah, has twice rejected the

IL Again Weighs Expanding MMJ Qualifying Conditions is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

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Oregon Issues First Batch of Rec Marijuana Grow Licenses

Oregon regulators awarded the first eight marijuana grower licenses under the state’s new recreational cannabis program.

The winners include former Portland Trail Blazer forward Antonio Harvey, the owner of a trendy Portland restaurant and lounge, as well as veteran marijuana growers.

The licensees are:

  • Harold Frazier, Dale Fox, Maiden Azalea LLC (New Breed Seed) –  Outdoor, Lane County
  • Far Out Farms, LLC (Far Out Farms) – Mixed, Tillamook County
  • Preston Greene (Yerba Buena) – Mixed, Washington County
  • Smokey Mountain Farm, LLC (Smokey Mountain Farm) –  Outdoor, Washington County
  • Jennifer Speer-Harvey, Antonio Harvey, Daniel Speer (Terra Mater) – Mixed,

Oregon Issues First Batch of Rec Marijuana Grow Licenses is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

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NE, OK Again Try to Overturn CO Rec Marijuana Law

The attorneys general of Nebraska and Oklahoma aren’t ready to throw in the towel in their bid to overthrow Colorado’s recreational cannabis law, after the duo recently failed to do so before the U.S. Supreme Court.

The two attorneys general have asked to be added as plaintiffs in a separate case aimed at scuttling Colorado’s 2012 voter-approved rec law. That case is now before the 10th Circuit Court of Appeals in Denver.

According to the Lincoln Journal Star, just making the request means representatives from the two attorneys general’s offices can submit merit-based briefs to the court in

NE, OK Again Try to Overturn CO Rec Marijuana Law is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

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