Marijuana Business News

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business
Thu
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Apr
Thu
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Apr

Canada: Hiku Brands and WeedMD to merge to create vertically integrated industry leader

  • The Transaction combines a premium cannabis brand house and retail focused operator in Hiku, with the significant production capabilities and differentiated medical brand in WeedMD
  • Vertically integrated operations secure control over the entire cannabis value chain
  • Coast-to-coast and diversified cannabis cultivation platform with four facilities, and planned capacity of over 56,000 kg by mid-2019
  • Brings together an experienced management team with leading capabilities in branding, marketing, retail and cannabis production
  • Increased scale of the combined company will enhance its capital markets profile and trading liquidity
  • WeedMD shareholders to receive 1.4185 common shares of Hiku for each share of WeedMD
Thu
19
Apr

Colorado: Where does the marijuana tax money go?

One of the most frequent questions asked is: "Where do my marijuana tax dollars go?" A new animated video created by Marijuana Industry Group, whose executive director, Kristi Kelly, has become the face of the cannabis business in Colorado, gets closer to the truth of the matter than anything has in a long, long time.

Thu
19
Apr

Oregon grew more cannabis than customers can smoke. Now shops and farmers are left with mountains of unwanted bud

A recent Sunday afternoon at the Bridge City Collective cannabis shop in North Portland saw a steady flow of customers.

Little wonder: A gram of weed was selling for less than the price of a glass of wine.

The $4 and $5 grams enticed Scotty Saunders, a 24-year-old sporting a gray hoodie, to spend $88 picking out new products to try with a friend. "We've definitely seen a huge drop in prices," he says.

Across the wood-and-glass counter, Bridge City owner David Alport was less delighted. He says he's never sold marijuana this cheap before.

Thu
19
Apr

California: Cannabis point-of-sale platform Green Bits raises $17 Million in series a round

Green Bits, the nation's leading retail management and automated compliance platform that helps cannabis dispensaries and retailers efficiently and legally run their businesses, today announced it completed a $17 million Series A round of financing.

Tiger Global, a New York-based investment firm focused on investing in growth oriented Internet and Software companies, led the round with participation from Casa Verde Capital, a venture capital firm focusing on the ancillary cannabis industry, and other investors.

This new round brings Green Bits' total outside funding to $19.3 million, demonstrating its continued adoption and growth within the rapidly expanding legal cannabis industry.

Thu
19
Apr

Cannabis is set to be legalized in Antigua and Barbuda, PM announces

Antigua and Barbuda will allow the use of medical cannabis, Prime Minister Gaston Browne has announced, in addition to decriminalising  the possession of small amounts of the drug

In explaining the move Mr Browne said that that the prohibition of cannabis was not prompted by the health or well-being of users, but to serve the 'racist, political and economic interests of the global powers at that time'.

The Prime Minister said  his government's plans to legalise cannabis for medicinal and 'other' uses.

Mr Browne went on to apologise to the Rastafarian community for the 'demonisation and brutalisation' that has been inflicted upon them by police and other government authorities because of prohibition. 

Thu
19
Apr

Rising cannabis use could cut into wine consumption

According to an April report by New York City-based Rabobank, “existing research does indicate that rising marijuana use will negatively affect the growth of beverage alcohol.”

The primary drivers of this trend include the fact that women and older consumers are saying they intend to use more marijuana when it is legal; a focus on health that cannabis fits into; and marijuana becoming legalized in states that already have high levels of wine consumption.

Thu
19
Apr

A tour of America's biggest legal weed factory

The $15 million facility will have 25,000 plants producing 10,000 pounds of marijuana a year.

Adam Bierman, the bullishly confident 36-year-old CEO of MedMen—the first American cannabis company to be valued at a billion dollars—thinks Donald Trump is very good for business.

Thu
19
Apr

Keeping a close eye on protocol, Canadian banks warm up to cannabis

When Canopy Growth reached a financing deal with the Bank of Montreal (BMO) in January, it was a big step for both the licensed producer and for Canada’s financial sector. The deal signaled a shift in this country’s banking industry: It’s five biggest banks are finally warming up to the cannabis industry.

The banks have been skittish about getting involved in the industry, despite its dramatic growth in recent years, in large part because they have major business interests in the US, where cannabis is outlawed federally. (Cannabis for recreational or medical use is legal in many states but classified as an illegal Schedule-I narcotic under US law.)

Thu
19
Apr

'It is a blessing in disguise': Struggling farmers in Malta are selling land to cannabis growers

The farming industry has been in steady decline over recent years in Malta, but marijuana could offer a way for struggling farmers to start over, wriets Calvin Hughes.

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