MMJ Business Daily

Charges Filed Against Alaska Cannabis Entrepreneurs

A trio of entrepreneurs in Alaska may have jumped the gun in starting their cannabis companies, as now they’re all facing multiple criminal charges for selling marijuana.

Although both medical and recreational cannabis are currently legal to possess in Alaska, the state has not yet finalized regulations for sales or businesses, meaning that it’s still technically illegal to engage in marijuana commerce without getting a license from the Marijuana Control Board. The first business licenses aren’t scheduled to be issued until next May.

The owners of two marijuana delivery companies, as well as the controversial former TV reporter

Charges Filed Against Alaska Cannabis Entrepreneurs is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Snoop Dogg, Media Entrepreneur Launching Marijuana Business

Cannabis business owners will have another way to reach potential customers beginning next month, courtesy of rapper Snoop Dogg and media entrepreneur Ted Chung.

The two have teamed up to launch a website called Merry Jane, which will focus on providing content for marijuana users but will also aim to serve as a commerce hub for the cannabis industry.

Chung – a Wharton School of Business graduate who founded a media business in Los Angeles – and Snoop Dogg announced the new company at this week’s TechCrunch Distrupt conference in San Francisco.

They described Merry Jane as an

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Snoop Dogg, Media Entrepreneur Launching Marijuana Business is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Five Cost-Saving Strategies for Cannabis Growers

By John Schroyer
Growing marijuana at the commercial level isn’t easy or cheap.
But there are some strategies cultivators can employ to control their costs, from adopting automation technology to teaming up with other growers for bulk purchases.
Five C…

Minnesota MMJ Patients Still Tapping Black Market

High prices for medical marijuana at Minnesota’s fledgling dispensaries are pushing patients back to the black market, a worrisome sign in for an MMJ program that is already experiencing difficulties.

Almost 20% of the state’s 491 registered patients haven’t made a return trip in the last month to any of the three dispensaries currently open in the state, with many saying it’s simply too costly, according to the Associated Press.

One patient told the AP his monthly bill for legal MMJ is $264, but that he can get a month’s worth of cannabis flower on the street for

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Minnesota MMJ Patients Still Tapping Black Market is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

19 Applications for New Dispensary Licenses in Connecticut

Connecticut received 19 applications for dispensary licenses by the Sept. 18 deadline, showing healthy business interest in the state’s growing medical cannabis industry.

The state is looking to add dispensaries in two particular counties: New Haven and Fairfield. Roughly 50% of Connecticut’s 5,357 registered medical marijuana patients live in those counties, but New Haven and Fairfield each only have one dispensary.

The state will award up to three more dispensary licenses, adding to the six it has already granted.

The names of applicants and details of the proposals were not released. The state Department of Consumer Protection said

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19 Applications for New Dispensary Licenses in Connecticut is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Chart of the Week: Wholesale Marijuana Price Fluctuations Create Challenges for Cannabis Businesses

By Becky Olson
The cannabis industry is rife with uncertainty, and wholesale marijuana prices are no exception.
The national weighted average price of a gram of marijuana sold at the wholesale level fluctuated by 21% between May and mid-September, acco…

Portland Expects 350 Recreational Cannabis Businesses

Portland, Oregon, expects 350 new marijuana businesses to spring up across the city once the state’s recreational cannabis industry is fully up and running.

The tally includes 150 retail stores, 100 processors, 50 wholesalers and 50 producers, according to projections city officials provided the Oregonian.

Such a dense population of marijuana businesses will almost certainly lead to serious competition.

The first businesses licensed under Oregon’s new recreational marijuana program won’t open until the second half of next year. But the state recently signed off on a plan that allows existing medical marijuana dispensaries to start selling

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Portland Expects 350 Recreational Cannabis Businesses is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Top New York Banks Have No Plans to Work With MMJ

New York’s five medical cannabis business license winners will likely have a tough time finding banking services, much like the rest of the industry.

A handful of major banks in the state – including Wells Fargo, PNC Bank, JP Morgan Chase, TD Bank and Key Bank – told Politico that they have no plans to work with the marijuana industry in New York or anywhere else.

“Until we get clarity from the feds, we are not banking on marijuana-related business,” a spokesman from JP Morgan Chase told Politico.

Other banks echoed the sentiment, saying the lack

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Top New York Banks Have No Plans to Work With MMJ is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Week in Review: More Recreational Marijuana Shops in WA, Huge Sales Spike in CO & Supply Issues in NV

By John Schroyer

Washington State signals it could grant hundreds of additional recreational licenses, Colorado cannabis retailers see a huge boost in sales from an MJ tax holiday, and the first Las Vegas dispensary reopens after solving inventory issues.

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

Washington Rec Shop Boom?

How many Washington State dispensaries will make the transition to the recreational market?

Potentially hundreds.

Brian Smith, spokesman for the state’s Liquor and Cannabis Board, told a radio station this week that the agency doesn’t have a cap

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Week in Review: More Recreational Marijuana Shops in WA, Huge Sales Spike in CO & Supply Issues in NV is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Colorado AG Investigating ‘Organic’ MJ Companies

Some marijuana companies may want to reconsider using the word “organic” on their labels if they don’t want to draw undue attention from law enforcement.

Colorado Attorney General Cynthia Coffman is reportedly looking into whether or not some cannabis businesses have violated state law after consumers complained about being misled by such labels, according to a story Wednesday by the Denver Post.

“We’re looking for information inside those complaints to make a determination on what those next steps are,” a spokesman for Coffman’s office told the Post. “Is it consumer fraud? Is it criminal?”

One commercial grower,

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Colorado AG Investigating ‘Organic’ MJ Companies is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs