Marijuana Business News

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Fri
13
Dec

Arizona may limit hemp farms' proximity to marijuana farms

Some of Arizona’s medical marijuana growers have shared their growing concerns over hemp with state lawmakers.

The growers want a law enacted to require a multi-mile buffer zone between where hemp farmers can grow in relation to medical marijuana farms, Tucson.com reported. Hemp growers think 5 miles is more than adequate while marijuana growers think a minimum of 10 miles is necessary.

Fri
13
Dec

Space Case: SpaceX is bringing cannabis to space

Cannabis and coffee are heading to the International Space Station, and SpaceX is giving them a ride. Agri-tech company Front Range Biosciences® has partnered with SpaceCells USA Inc., which is funding and managing the project, to send tissue cultures of two of the world’s favorite substances into the cosmos.

Fri
13
Dec

Star Wars inspires creativity in the cannabis world

“Star Wars,” just in case you’ve been living in another galaxy, is an epic space opera created by George Lucas. The first film premiered in 1977 and it has become a cult classic plus one of the most financially successful film and marketing franchises. This month, the ninth installment, “The Rise of Skywalker,” is expected to wrap up the saga we’ve come to know and love.

But the “Star Wars” phenomenon isn’t going anywhere, including its welcome place in cannabis culture.

What’s the appeal? Ask 10 cannabis consumers and you’ll get 10 different answers, “It’s cool,” “It’s a popular story that everyone knows and loves,” “Every time I smoke, I think of going to a galaxy, far, far away…”

Fri
13
Dec

$136 Billion reasons to get into the European cannabis market

The European cannabis market is predicted to become a $136 billion industry by 2028, according to the fourth European Cannabis Report that was published by Prohibition Partners. This is more than four times the projected market value of the U.S. cannabis market, which is estimated to be worth $30 billion by 2025.

Fri
13
Dec

Charlotte's Web is about to face its toughest competition yet

One of the biggest advantages Charlotte's Web (OTC: CWBHF) has enjoyed is its dominant position in hemp-based cannabidiol (CBD) products in the U.S. While many cannabis companies are focused on the sale of recreational marijuana, Charlotte's Web has carved out a strong market share in hemp.

However, its legacy leadership in the market could change with one big-name competitor from Canada looking to make a big splash in the U.S. CBD market: Canopy Growth (NYSE: CGC).

Fri
13
Dec

Pot taxes add $640 million to provincial coffers in first year of legalization

Pot smokers in Canada paid $640 million in provincial taxes in the first year of cannabis legalization.

And the money collected for provincial coffers is trending upwards.

Based on figures provided by Statistics Canada, Blacklock’s Reporter reports nearly two-thirds of a billion bucks went to provinces — $144 million in taxes was collected in the first quarter after legalization in mid-October 2018, followed by $160 million, $144 million and $192 million for the next three quarters.

But the total pales in comparison to the more than $19 billion collected through the sales of tobacco during the same time period.

Federal taxes are capped at $100 million annually for two years, Blacklock’s report said.

Fri
13
Dec

New Jersey is poised to let voters decide if marijuana should be legal

State lawmakers inched closer Thursday to letting voters decide next year if marijuana should be legal in New Jersey.

“It’s time we give the voters an opportunity to weigh in on this,” Sen. Nicholas P. Scutari (D., Union) said during the final — and constitutionally required — hearing before legislators vote on whether to put recreational marijuana legalization on the November ballot.

That vote is scheduled for Monday. Scutari said it would have been preferable to legalize marijuana through the Legislature, but that "appears to not be the avenue we can go.”

Fri
13
Dec

Where will Aurora Cannabis be in 10 years?

Buying and holding stocks for lengthy periods of time is arguably the best way to produce top-notch returns on capital. Nevertheless, long-term investing isn't without its own particular risks. In order to generate market-beating returns over a period of, say, 10 years, investors need to have a firm grip on a company's underlying fundamentals, core value creation strategy, as well as the long-term outlook for its industry as a whole. 

Fri
13
Dec

Brothers in hemp-weed mixup consider suing New York City and the Police Department

The bust was a bust, and it could end up costing New York City some serious green.

A day after prosecutors dropped criminal charges in a case spotlighting confusion over hemp, marijuana and conflicting laws, the Brooklyn brothers caught in the chaos took the first step toward suing the city and the police department.

Fri
13
Dec

Peru effectively launches its medical marijuana program

Government officials effectively launched Peru’s medical marijuana program last week with the publication of regulations for the production and distribution of medicinal cannabis. Although some rules to implement the South American nation’s 2017 law legalizing medical marijuana had been issued by decree earlier this year, they did not include guidelines for companies to apply for required licenses.

Under the new rules, licenses will be available for research, production, import, wholesale commercialization, seed production, and retail sales of cannabis. To obtain a license, applicants must submit detailed information including agricultural production plans and security protocols.

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