Marijuana Business News

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Mon
16
Nov

Career path widens for women in medical marijuana industry

First State Compassion, Delaware’s medical marijuana pioneer, paved the way for a robust and sustainable Delaware industry that set the bar as a model for the country.

It is doing it again by building a more inclusive workforce. “When we opened Delaware’s first medical marijuana dispensary in Wilmington in 2015, it was revolutionary,” said CEO Mark Lally. “Today, we are focused on widening that pioneering path even more. I am especially proud of our diverse leadership team and the significant role women play in our organization.”

Nearly 37 percent of senior-level jobs at cannabis companies are held by women, according to a Marijuana Business Daily survey. That compares with the national average of 21 percent female business executives.

Mon
16
Nov

Growing Pains: What’s Next For The Cannabis Industry In Canada

In order for the legal cannabis industry to continue maturing into adulthood, Canada needs to redefine its position on the quality of the products being produced.

Saturday, October 17, marked the two-year milestone of Canada becoming the first G7 country to legalize adult-use cannabis federally with the adoption of the Cannabis Act. Since then, the country’s cannabis industry has seen a rapid expansion.

Mon
16
Nov

Can farming hemp help fight climate change?

A small farm in upstate New York is working to revolutionize the organic farming industry, starting with supporting their local ecosystem while growing, among a variety of grains, hemp — the plant behind the multi-million dollar CBD industry.

Hemp, a species of cannabis that does not create a marijuana-like high, has an ancient history with usage dating back centuries.

Ben Banks-Dobson, who runs Stone House Farm's 2,600-acre operation, is hoping to help the Earth while promoting the unique plant and its variety of uses.

"Hudson Hemp was born out of a transition from conventional to organic farming," he told CBS News' Michelle Miller. "Our corn and soybeans only goes into chicken and hog feed for local farms selling their meat locally."

Mon
16
Nov

Australia’s cannabis sector can reach further highs in 2021 – here’s how it’ll happen

For Australia’s cannabis sector, 2021 is looking even better than what it did a few months ago.

Some also suffered from COVID-19 restrictions – and not just restrictions on people movements and falling consumer confidence.

Tommy Huppert, CEO of cultivator Cannatrek, told Stockhead moving freight was difficult in the early stages of COVID-19.

Given Australia’s cannabis sector heavily relies on imports, he didn’t mince his words.

“At one stage there were simply no flights so no medicine could arrive in the country, which was pretty scary,” Huppert declared.

Mon
16
Nov

Illinois marijuana sales top $100 million in October

Illinois saw more than $100 million in marijuana sales in October, the Illinois Department of Financial and Professional Regulation reported Monday.

There was a record $75 million in recreational pot sales last month, up nearly $8 million from the previous month. Sales of medical marijuana totaled another $33 million, according to officials. The first 10 months of legal cannabis sales total more than $500 million, with about $300 million in medical marijuana sales.

Marijuana sales to adults is legal in 11 states and Washington D.C. Four more states approved recreational marijuana use in Tuesday’s election, while six Chicago suburbs joined a growing list of Illinois municipalities allowing cannabis dispensaries for adults.

Fri
13
Nov

Colorado weed sales set to crush annual record, with another $200 million month in September

Weed enthusiasts purchased more than $206.4 million worth of Colorado-made marijuana products in September, as sales from a record-breaking year moderately cooled off.

Recreational dispensaries sold $166,547,119 during the month, while medical dispensaries sold $39,941,149 for a combined $206,488,268 in revenue, according to data from the Colorado Department of Revenue.

Fri
13
Nov

5 Ways Growers Can Boost Profits

As a cannabis grower, small increases in your profit margins can make a big difference in the success of your business. And if you want to scale your operations, you need to focus on getting the small details squared away.

As cannabis becomes destigmatized as a legitimate industry, it’s imperative that growers and retailers become even more focused on cleaning up business processes and optimizing for profitability. Here are some specific ways you can do just that:

Fri
13
Nov

Israeli start-up claims it can make cannabis plants resistant to powdery mildew

CanBreed, an start-up based in Israel, is reporting the company has used CRISPR-Cas9 gene-editing technology to make the cannabis plant resistant to potentially deadly powdery mildew. Corteva Agriscience and the Broad Institute of MIT and Harvard hold the rights to the technology.

The start-up’s research and development team — which includes geneticists, molecular biologists and agronomists — “edited a gene that expresses a protein responsible for creating sensitivity to powdery mildew infection,” CanBreed CEO Ido Margalit told The Times of Israel.

Fri
13
Nov

State lawmakers consider tightening restrictions on hemp products

A panel of state lawmakers is considering a bill that could significantly restrict the use and sale of certain products derived from hemp — including making it illegal to smoke the substance.

Wyoming law currently says that, as long as certain licensing requirements are followed in the growing and processing of the crop, “the possession, purchase, sale, transportation and use of hemp and hemp products by any person is allowable without restriction.”

As Powell Police Chief Roy Eckerdt sees it, that means hemp “can be used by anybody in any way.”

Fri
13
Nov

Colorado Now Allows Marijuana Ads on Billboards, but Denver Doesn't

Denver hasn't adopted a new state law allowing marijuana industry billboards in Colorado, but that could change soon.

State laws implemented in January let marijuana companies advertise outdoors using billboards, but as with many new pot freedoms, local jurisdictions have to opt in first. And so far, Denver hasn't.

Colorado’s current marijuana advertising laws, created by the State Licensing Authority, follow voluntary advertising restrictions similar to those used by the alcohol industry to prevent the sale or diversion of marijuana to minors. However, the plant's federal status led to a more restrictive advertising landscape for pot than for alcohol.

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