Maine

California state marijuana excise tax could go up July 1

California state marijuana excise tax could go up July 1 Although the California marijuana industry has hoped for tax relief as it struggles to compete with a thriving illicit market, a tax increase could be on the way. A tax hike would hit cannabis companies’ bottom line and could drive more consumers into the illicit […]

Guernsey releases marijuana regulations, licenses first business

Guernsey releases marijuana regulations, licenses first business A self-governing British Crown dependency in the English Channel updated its licensing regulations for CBD products and the cultivation of cannabis. Guernsey opened the door to medical cannabis and cannabidiol businesses last year by updating its Misuse of Drugs (Bailiwick of Guernsey) Law. Read the related updates for […]

Romania considering legalization of medical cannabis

Romania considering legalization of medical cannabis A legal medical cannabis industry could be in Romania’s future, according to the country’s finance minister. Finance Minister Eugen Teodorovici said the Health Ministry launched a commission to analyze medical marijuana, Romanian television station Digi24 reported. According to the 24-hour news station, Teodorovici said: “I’ve talked to minister Sorina […]

North Dakota Senate moves bill forward that might ease access to medical marijuana

North Dakota Senate moves bill forward that might ease access to medical marijuana North Dakota’s state Senate overwhelmingly approved a bill aimed at increasing the number of residents who could gain certification to use medical cannabis. Medical marijuana firms took note of the move since it could boost the MMJ market in the conservative state. […]

New Jersey lawmakers cancel vote on adult-use cannabis bill

New Jersey lawmakers cancel vote on adult-use cannabis bill New Jersey lawmakers called off their scheduled vote Monday on a bill to legalize adult-use marijuana after Gov. Phil Murphy failed to persuade enough lawmakers to support the legislation. New Jersey lawmakers cancel vote on adult-use cannabis bill is a post from: Marijuana Business Daily: Financial, Legal […]

Los Angeles hiring cannabis social equity program manager

Los Angeles hiring cannabis social equity program manager The Department of Cannabis Regulation (DCR) in the city of Los Angeles is looking for someone to run its social equity program. The project is part of a handful of efforts in California intended to get minorities and those negatively affected by the war on drugs involved […]

Cresco closes in on approval to enter Michigan marijuana market

Cresco closes in on approval to enter Michigan marijuana market Cresco Labs, a Chicago-based multistate cannabis operator, said it received prequalification licensing approval to enter the Michigan cannabis market. The company, which earlier this month said it plans to acquire Florida-based medical marijuana group VidaCann for $120 million, would have production and retail operations in 11 […]

Chart: Medical cannabis license growth still sizzling in Oklahoma

Chart: Medical cannabis license growth still sizzling in Oklahoma Nine months after Oklahoma voters approved one of the most business-friendly medical marijuana initiatives in the country, the number of licenses and patient approvals continue to rise at a feverish pace. Low barriers to entry for both are driving the growth, namely: Businesses have no license […]

Cronos Group reports boosted cannabis revenue but wider losses in Q4

Cronos Group reports boosted cannabis revenue but wider losses in Q4 Cronos Group, a Toronto-based licensed cannabis party, posted sizable fourth-quarter revenue, the company said in an earnings report Tuesday, but its net loss for the period grew sharply – fueled in large part by financial reporting requirements. Cronos reported fourth-quarter revenue of 5.6 million Canadian dollars ($4.2 […]

Molson Coors: Cannabis consumption may hit company’s bottom line

Molson Coors: Cannabis consumption may hit company’s bottom line The second-largest beer maker in North America is once again warning its shareholders that the rising tide of legal marijuana could take a bite out of its profits. Denver-based Molson Coors said a decline in the consumption of its products could result in an adverse effect […]

Louisiana medical marijuana grower plans ‘limited release’ of product in May

Louisiana medical marijuana grower plans ‘limited release’ of product in May A Louisiana medical cannabis cultivator is planning to release a limited amount of product in May, which could temporarily alleviate some frustration from the ongoing delay in the program’s rollout. However, it’s still not clear when sales would begin. GB Sciences, which has the […]

Vireo enters Arizona medical cannabis market

Vireo enters Arizona medical cannabis market Vireo Health, a Minneapolis-based cannabis group, said it is expanding into Arizona with the acquisition of Arizona Natural Remedies (ANR). Vireo declined to disclose the value of the acquisition. The company, which started trading on the Canadian Securities Exchange earlier this month, will now operate in seven states. ANR operates […]

Louisiana medical cannabis grower OK’d to up production; no start date for sales

Louisiana medical cannabis grower OK’d to up production; no start date for sales Louisiana’s agriculture department and a state-sanctioned medical marijuana grower broke through one of the key regulatory logjams keeping MMJ off pharmaceutical shelves. However, it remains uncertain when sales might begin. Agriculture Commissioner Mike Strain said Friday that regulatory paperwork and background checks […]

WA ponders allowing small marijuana growers to sell direct to consumers

WA ponders allowing small marijuana growers to sell direct to consumers Washington state will consider allowing small cannabis farmers to sell directly to consumers, similar to what’s allowed for wineries, breweries and distilleries, according to the state’s top marijuana regulator. The move, if approved by regulators, would give smaller growers a financial shot in the arm […]

Study: Oregon would double marijuana supply if all producer licenses allotted

Study: Oregon would double marijuana supply if all producer licenses allotted A new study of the economics of Oregon’s recreational cannabis industry shows the state would nearly double its cannabis supply if regulators approved all pending producer applications, which could potentially strain an already glutted market. Oregon’s market has struggled with oversupply issues, driving prices […]

Cannabis business takeaways for week ending Feb. 8 (SLIDESHOW)

Cannabis business takeaways for week ending Feb. 8 (SLIDESHOW) Cannabis business takeaways for week ending Feb. 8 (SLIDESHOW) is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs Laura Hamiltonhttps://mjbizdaily.com/cannabis-business-takeaways-feb-8-slideshow/

US attorney warns Oregon against interstate marijuana export plan

US attorney warns Oregon against interstate marijuana export plan The U.S. attorney for Oregon has warned against a proposal to permit local cannabis companies to export crops and products to other states. U.S. Attorney Billy Williams reiterated on Thursday the fact that transporting marijuana across state lines is a federal crime. Williams is determined to […]

Audit says Oregon marijuana regulators fail to meet basic standards

Audit says Oregon marijuana regulators fail to meet basic standards A new audit released by the Oregon Secretary of State examined the state’s regulation of the cannabis market and concluded that regulators are coming up short in a number of areas. The audit is the first detailed look at cannabis regulation in Oregon since voters […]

Chart: Adult-use marijuana sales spike 7% on Valentine’s Day

Chart: Adult-use marijuana sales spike 7% on Valentine’s Day Valentine’s Day isn’t just an opportunity to express love, it’s also an opportunity to spend – a trend that is reflected in retail marijuana expenditures in several adult-use markets. The National Retail Federation (NRF) estimated that total 2019 spending on Valentine’s Day gifts in the United States […]

Oregon cannabis businesses might owe $15.7 million in back state taxes

Oregon cannabis businesses might owe $15.7 million in back state taxes Some Oregon marijuana business owners – hit with falling prices and slim margins – are struggling to pay state taxes on their sales. According to Eugene TV station KVAL, 176 marijuana businesses owe the Oregon Department of Revenue $15.7 million in unpaid taxes. Oregon’s revenue department […]

Chart: Dozens of marijuana licenses at risk after Oregon inspections

Chart: Dozens of marijuana licenses at risk after Oregon inspections More than a quarter of Oregon’s outdoor recreational marijuana producers had deficiencies or potential compliance violations in their harvest processes, according to the results of Operation Good Harvest – the state’s effort to observe and inspect the 2018 outdoor cannabis harvest. Of the 354 licensed […]

Washington state cannabis retailer charged with illegally offering free samples

Washington state cannabis retailer charged with illegally offering free samples Washington state regulators claim that a marijuana store in Lacey gave undercover officers the opportunity to take free samples and try the product in an unlicensed portion of the building. Enforcement officers with the state’s Liquor and Cannabis Board (LCB) searched the building containing Dank’s […]

California marijuana company sued over anonymous sexual assault claim

California marijuana company sued over anonymous sexual assault claim An Oregon cannabis firm sued a California competitor, alleging the company circulated anonymous social media posts designed to undermine its brand, The Oregonian reported. The suit, filed in federal court by Portland-based Cura Cannabis against Bloom Farms, claims the posts focused on a sexual assault allegation […]

Retail cannabis license hopefuls line up before vote in rural Oregon

Retail cannabis license hopefuls line up before vote in rural Oregon Would-be recreational marijuana retailers are lining up outside municipal planning offices in Ontario, Oregon, to nab retail licenses should voters repeal a ban on cannabis sales within city limits. The City Council recently voted to impose a 1,000-foot buffer on adult-use marijuana stores, which […]

Medical cannabis cardholders, growers dropping off in Oregon

Medical cannabis cardholders, growers dropping off in Oregon Medical marijuana patients and growers across Oregon are abandoning the state’s MMJ program, according to reports. Licensed medical marijuana companies are increasingly up against a combination of legislative red tape and a different kind of market force: the convenience of recreational retail sales. The number of patients […]

Oregon recreational cannabis sales soar as prices continue to drop

Oregon recreational cannabis sales soar as prices continue to drop Rampant overproduction in Oregon’s market for legal, recreational marijuana has produced a 50% drop in prices, according to recent estimates by state economists. The widely documented collapse has been tough on cannabis businesses such as cultivators and retailers – but a boon for consumers. “The real […]

Oregon cannabis harvest floods market again, driving prices even lower

Oregon cannabis harvest floods market again, driving prices even lower More than a million pounds of marijuana flooded an oversaturated Oregon market last October, keeping prices low and further straining burdened cannabis businesses. Oregon’s marijuana cultivators harvested more than 2.5 million pounds of wet cannabis last October, with 1.3 million pounds of “usable” marijuana entered […]