MMJ Business Daily

MJ Freeway Wins Nevada Software Contract

Colorado-based MJ Freeway has won a state contract with the Nevada Division of Public and Behavioral Health to implement a seed-to-sale inventory tracking system for the state’s medical cannabis industry.

The contract is for five years and is worth $603,393, a company spokeswoman said. MJ Freeway beat out six other contenders for the contract.

MJ Freeway will be setting up its own Leaf Data Systems platform for businesses and regulators to use. There will be a required “nominal” monthly fee for licensed companies to transmit their data to the state, but “it won’t break the bank,” the spokeswoman said. The

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MJ Freeway Wins Nevada Software Contract is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Hawaii Medical Cannabis Program Advancing

Hawaii’s medical marijuana program is making slow but steady progress.

The state’s health department has named five people to be on a panel that will award eight MMJ business licenses.

Hawaii received 66 applications for business licenses from 59 companies. Final decisions on the business permits are expected April 15, and license winners can open July 15.

The panel that will determine winners includes:

• H. David Bess, a professor of management and transportation at the University of Hawaii at Manoa.
• Phyllis Shimabukuro-Geiser, deputy to the chairperson of the Hawaii Department of Agriculture.
• Keith Ridley, chief of the Office of

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Hawaii Medical Cannabis Program Advancing is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Hawaii Medical Cannabis Program Advancing

Hawaii’s medical marijuana program is making slow but steady progress.

The state’s health department has named five people to be on a panel that will award eight MMJ business licenses.

Hawaii received 66 applications for business licenses from 59 companies. Final decisions on the business permits are expected April 15, and license winners can open July 15.

The panel that will determine winners includes:

• H. David Bess, a professor of management and transportation at the University of Hawaii at Manoa.
• Phyllis Shimabukuro-Geiser, deputy to the chairperson of the Hawaii Department of Agriculture.
• Keith Ridley, chief of the Office of

…

Hawaii Medical Cannabis Program Advancing is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

LA Cannabis Consultancy Partners With PA Lobbying Firm

The Pennsylvania Legislature has not yet finalized a bill legalizing medical marijuana, but passage seems likely enough that two powerful businesses have formed a partnership in the cannabis space.

MedMen, a nine-year-old cannabis consultancy in Los Angeles, and the Winter Group, a government relations firm in the Pennsylvania state capital of Harrisburg, announced their partnership Monday.

“We can provide new businesses with the ability to approach the market with a sound political and management strategy in place, creating a truly turnkey solution to entering the industry,” said Winter Group president and former Pennsylvania

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LA Cannabis Consultancy Partners With PA Lobbying Firm is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Pricing, Revenue & Demand Trends in New Jersey’s Medical Marijuana Market

By Omar Sacirbey

New Jersey’s medical cannabis program has shrugged off its sluggish start and is growing rapidly despite having some of the highest prices in the nation.

But the state isn’t ready to add more business licenses anytime soon, and at least one dispensary said demand isn’t quite yet at the levels it expected.

Medical marijuana sales in New Jersey via dispensaries rose roughly 60% last year to hit an estimated $9.6 million, while the patient count jumped by more than 85%, according to data in an annual report released last week by the state.

An average of

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Pricing, Revenue & Demand Trends in New Jersey’s Medical Marijuana Market is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Pricing, Revenue & Demand Trends in New Jersey’s Medical Marijuana Market

By Omar Sacirbey

New Jersey’s medical cannabis program has shrugged off its sluggish start and is growing rapidly despite having some of the highest prices in the nation.

But the state isn’t ready to add more business licenses anytime soon, and at least one dispensary said demand isn’t quite yet at the levels it expected.

Medical marijuana sales in New Jersey via dispensaries rose roughly 60% last year to hit an estimated $9.6 million, while the patient count jumped by more than 85%, according to data in an annual report released last week by the state.

An average of

…

Pricing, Revenue & Demand Trends in New Jersey’s Medical Marijuana Market is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Hemp Farming Escalating in KY, Downsizing in TN

While hemp production is rapidly expanding in Kentucky, the number of farmers sowing the crop is being cut in half in neighboring Tennessee.
In Kentucky, according to the Commonwealth Journal, the state has authorized 4,500 acres be cultivated with ind…

New York MJ Business Reveals Banking Partner

One of the 50 largest credit unions in the United States is banking legalized medical marijuana money.

Ari Hoffnung, CEO of Vireo Health of New York, revealed to the Albany Business Review that his company has a deposit account with the State Employees Federal Credit Union (SEFCU) in Albany, New York.

Vireo holds one of the five licenses in New York to cultivate and sell medical cannabis.

The company can use the account to deposit money and pay its employees and vendors.

The SEFCU is federally chartered and regulated and insured by the National Credit Union Administration, a

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New York MJ Business Reveals Banking Partner is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

SCOTUS Tosses Colorado Recreational Cannabis Lawsuit

Colorado recreational cannabis businesses can relax: The U.S. Supreme Court won’t be overthrowing the state’s 2012 voter-approved law.

The court announced Monday morning that it had decided by a 6-2 vote not to take up the case, which was brought by the attorneys general of Nebraska and Oklahoma in 2014. Justices Clarence Thomas and Samuel Alito dissented and said they would have heard the suit. No opinion from the majority was published.

“The justices correctly decided that this lawsuit is without merit and that states should be able to move forward with implementing voter-approved legalization laws even

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SCOTUS Tosses Colorado Recreational Cannabis Lawsuit is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

CanopyBoulder Raises $2M For 2016 MJ Business Investments

CanopyBoulder, a business accelerator in Boulder, Colorado, announced on Friday it has completed yet another seven-figure round of fundraising to invest in startups for the coming year.

The accelerator raised $2 million to help new marijuana-related companies get off the ground in 2016, after raising $1.2 million last year for the same purpose. This year’s cash influx will be invested in two classes of companies that will go through a 16-week training and mentoring program.

“The 2015 CanopyBoulder alumni raised more than $10 million in capital to support their operations and we have high expectations for

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CanopyBoulder Raises $2M For 2016 MJ Business Investments is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs