MMJ Business Daily

AmeriCann Invests $6.7M in Massachusetts MJ Facilities

AmeriCann, a Denver medical marijuana company, is investing nearly $7 million in a dispensary and a grow facility in two southern coastal Massachusetts towns, according to the Taunton Gazette.

The cultivation technology and real estate company is under contract to purchase a nearly 1 million-square-foot site for a medical marijuana grow and processing facility in the town of Freetown for $4.15 million; the deal is scheduled to close May 16. Publicly traded AmeriCann plans to lease the greenhouse – called the Massachusetts Medical Marijuana Center – to cultivators.

The company also is lending $2.5 million to Coastal Compassion, which

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AmeriCann Invests $6.7M in Massachusetts MJ Facilities is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Ex-NFL Players Team With California MMJ Company

A whopping 30 former pro football players have signed up with a California-based medical marijuana company to run tests on how cannabis may help with chronic pain and depression.
The company, Constance Therapeutics, is an extraction firm based in the S…

Canada May Be Fast-Tracking Recreational Marijuana Legalization

Canadian Prime Minister Justin Trudeau’s new administration may be taking a quicker approach to legalizing recreational cannabis nationwide than previously thought.

The country’s minister of public safety told the Canadian broadcaster CBC that officials will soon create a task force comprised of representatives from the federal, provincial and municipal governments to discuss legalization.

“We’ll have a detailed announcement (on the task force) coming in the next several weeks,” the minister, Ralph Goodale, said.

Noel Atkinson, a research analyst at Clarus Securities in Canada, told the firm’s clients in a note that the comments are a sign “the federal

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Canada May Be Fast-Tracking Recreational Marijuana Legalization is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Ohio Lawmakers Crafting MMJ Legalization Bill

Ohio lawmakers are set to introduce legislation this week that would allow the use and sale of medical marijuana in the Buckeye State by 2018, offering a different vision of legalization than advocates pushing a ballot measure this year.

The legislative proposal, backed by a bipartisan task force of lawmakers in the House, would allow patients 18 and older to purchase edible marijuana, patches, plant material and oils with a recommendation from their doctor, according to Cincinnati.com.

Lawmakers hope to send the legislation to Gov. John Kasich by the summer. Kasich, a Republican presidential candidate, has said he’s open to the idea.

The measure comes in advance

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Ohio Lawmakers Crafting MMJ Legalization Bill is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

With Pennsylvania Medical Marijuana a Reality, Attention Turns to Regulations

By Omar Sacirbey

The marijuana industry is toasting Wednesday’s passage of a sweeping medical cannabis bill in Pennsylvania, which is set to become the 24th state to legalize MMJ and the first to do so in nearly two years.

But now the heavy lifting begins for Pennsylvania regulators who must write page upon page of rules for the program, while aspiring entrepreneurs and existing cannabis business owners alike will start determining whether to get involved in a potentially lucrative new market that offers both promise and pitfalls.

State lawmakers officially approved the bill Wednesday afternoon after months of debate and back-and-forth. Gov. Tom Wolf will

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With Pennsylvania Medical Marijuana a Reality, Attention Turns to Regulations is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Massachusetts Vaporizer Company Raises $1.6 Million

An upstart Massachusetts company focused on the cannabis market announced it has raised $1.6 million from angel investors to develop its flagship vaporizer.

CannaKorp says its vaporizer will deliver medical cannabis in a single-use, dose-controlled cup – similar to a smaller version of the coffee pod.

It’s been dubbed the “Keurig for marijuana,” a reference to the single-serve coffee maker. CannaKorp also recently recruited a former senior vice president with Keurig – Dave Manly – to be its chief executive officer and chairman.

In its news release Tuesday, CannaKorp said it reshuffled its top management and elevated co-founder James Winokur to be CEO.

Manly

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Massachusetts Vaporizer Company Raises $1.6 Million is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Breaking: Pennsylvania to Legalize Medical Marijuana

By Omar Sacirbey

Lawmakers in Pennsylvania have passed a bill to allow the cultivation, sale and use of medical marijuana, making it the 24th state in the nation to legalize MMJ.

The measure cleared the state House this afternoon by a 149-46 vote after previously winning approval from the Senate. The bill now heads to the governor, who said he will approve it.

“I am proud and excited to sign this bill that will provide long overdue medical relief to patients and families who could benefit from this treatment,” Gov. Tom Wolf said in a statement issued shortly after the House vote.

With nearly 13 million people,

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Breaking: Pennsylvania to Legalize Medical Marijuana is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Vermont Marijuana Legalization Ads Too Little, Too Late?

Ads touting the legalization of recreational marijuana in Vermont have hit the airwaves.

But they may be for naught after a key state House panel delivered a potentially crippling blow to a legalization bill by voting to merely study the matter.

According to the Brattleboro Reformer, the House Judiciary Committee couldn’t muster enough support to pass a legalization bill the state Senate approved more than a month ago.

The proposal called for commercial cultivation, regulations and taxes on cannabis sales, and adults would have been able to buy small amounts of marijuana at licensed shops.

Instead of approving

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Vermont Marijuana Legalization Ads Too Little, Too Late? is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Kodiak Capital Inks $1M Stock Deal With MJ Firm

Kodiak Capital Group, a California private equity firm, has agreed to purchase $1 million of common stock in FutureLand Corp., a Colorado company that leases land and equipment to growers of medical and retail marijuana as well as industrial hemp.

FutureLand will use proceeds from the deal for acquisitions and working capital, according to a press release.

The company said it owns 240 acres of land in southern Colorado and plans to purchase additional land and a grow facility in southern Oregon.

Without providing details, FutureLand said it doesn’t “currently grow, distribute or sell marijuana, but is poised to get

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Kodiak Capital Inks $1M Stock Deal With MJ Firm is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Cannabis-Themed Ads By General Mills Ahead of 4/20 Generate Optimism, Frustration

By John Schroyer

When the $18 billion global food giant General Mills started targeting Denver cannabis consumers with ads for a line of frozen snacks recently, local marijuana professionals took notice.

One executive even snapped a photo of a large billboard that promotes the snacks – Totino’s Pizza Rolls – by referencing the 4/20 cannabis holiday.

“I caught one on Colfax Avenue, so I took a picture of it and said, ‘It looks like we’ve really gone mainstream with this Totino’s Pizza Roll billboard,’” Joe Hodas, the chief marketing officer at infused products maker Dixie Brands, told Marijuana Business Daily.

The bold advertising move, which includes

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Cannabis-Themed Ads By General Mills Ahead of 4/20 Generate Optimism, Frustration is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs