Marijuana Business News

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stocks
business
Tue
17
Sep

Hemp Licenses quadrupled from 2018 to 2019, so will there be a CBD surplus?

In the first year since hemp has been legal for commercial cultivation on the federal level, people across the United States are jumping at the opportunity to try their hand growing the legendary plant.

According to new numbers from the hemp advocacy group Vote Hemp, this year, 16,877 farmers received a license from their state to grow hemp (defined as cannabis with less than 0.3% THC) — for a total of over 500,000 acres of hemp licensed for cultivation in 2019.

Tue
17
Sep

UK company set to be largest cannabis company on London stock market

A UK company is planning to list a £100m float on the stock market – poising it be the biggest cannabis company on the London Stock Exchange.

Cannaray, a British medical cannabis company, closed last Monday with a £7.8m (~€8.8m) Series A Funding round and hopes to raise more than £30m in the coming year in the hope of floating the £100m value.

Tue
17
Sep

What you should know about regulations for CBD product labeling

Looking through an assortment of cannabidiol (CBD) products, you might notice certain parts of the label that jump out at you, such as a lively green hemp leaf or the word “organic,” enticing you to give this intriguing product a try. A closer look at that label, however, might raise potential red flags about the quality or accuracy of that CBD product.

In other words, it's important for consumers to understand how product labeling is regulated when it comes to CBD oil and CBD-infused products

Tue
17
Sep

OxyContin maker Purdue Pharma files for bankruptcy as part of opioids settlement

Purdue Pharma, the company that made billions selling the prescription painkiller OxyContin, filed for bankruptcy in White Plains, New York, days after reaching a tentative settlement with many of the state and local governments suing it over the toll of opioids.
Tue
17
Sep

Ontario’s cannabis business posts $42-million loss in last fiscal year

Ontario said its government-owned cannabis business lost $42 million in the last fiscal year, while the province collected barely half the amount of excise taxes it estimated it would generate, in the latest symptoms of a shaky start to legalizing recreational pot in Canada’s most populous province.

The Ontario Cannabis Retail Corporation, a crown corporation that operates the Ontario Cannabis Store’s online retail business and sells wholesale cannabis to the province's private retail stores, generated $64 million in the fiscal 2018-2019 year, according to public accounts released on Friday.

Mon
16
Sep

Is Hemp a safer way to invest in the cannabis industry?

Profits have been elusive for many companies in the cannabis industry. With federal law making it impossible for companies to expand their operations across the U.S without either acquiring a company in another state or setting up an entirely new operation, it's been very difficult for costs to stay at manageable levels. The one workaround, however, has been for companies like Charlotte's Web (OTC:CWBHF) that have chosen a different route: hemp.

Sun
15
Sep

'Wild West': Marketing of cannabis in places where it's outlawed is an emerging 'gray area'

The ad proclaims “Life is Better With Legal Cannabis.” But for most of the readers who saw it in their morning paper, marijuana is not legal.

The ad from Canna Provisions gives the address, website and phone number of its store in Lee, Massachusetts. It ran on the bottom of the front page of the Aug. 30 Times-Union of Albany, New York. The paper is available on Berkshire County newsstand but decidedly not a Massachusetts publication.

The ad includes tiny, baseball box score-size type listing state-mandated disclaimers, concluding with, “This product may be illegal outside of MA.”

New York recently downgraded marijuana possession in small amounts from a misdemeanor to a violation, but it is still an arrestable offense punishable by fines.

Fri
13
Sep

2 marijuana stocks making headway in September

The marijuana stock market has been waiting for a solid push for some time now. With so many companies entering the industry, it seems as though the competition is at an all-time high. The competition that we have seen however has been very positive as many companies are working to innovate in such a new industry.

Fri
13
Sep

California’s illegal cannabis industry three times bigger than regulated market

​It has been nearly three years since California voters overwhelmingly approved a measure legalizing recreational marijuana use, opening the door for boutique pot shops and cannabis bakeries. But a report this week found that the state’s illicit market is still plenty active in its own right.
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Fri
13
Sep

USA 2019 hemp season a stunner

More than 510,000 acres of hemp were licensed across 34 U.S states in 2019, representing an increase of over 455% compared to 2018 according to VoteHemp.

However, what is licensed compared to what is actually planted and then harvested will be very different numbers.

VoteHemp estimates 230,000 acres will have been actually planted and as for what will be harvested, it’s making a guesstimate of 115,000 – 138,000 acres. But being a relatively new crop in recent times, issues such as seed availability and lack of experience play a role in the big difference in numbers.

Regardless, 2019 demonstrates solid progress.

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