Marijuana Business News

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stocks
business
Thu
21
Mar

Pennsylvania town decriminalizes marijuana, sees future in legal pot

Civic leaders in the borough of Steelton, Pennsylvania unanimously passed an ordinance to decriminalize possession of small quantities of marijuana on Tuesday evening. At a special meeting called to considerer the proposal, members of the borough council voted 5-0 to remove criminal penalties for first-time offenders possessing less than 30 grams of cannabis. Simple possession will instead be charged as a summary offense and be subject to a fine of $25 to $100.

Brian Proctor, the president of the borough council, said in a press release that the town was actively pursuing cannabis reform.

Thu
21
Mar

3 pot stocks with skyrocketing short interest

Since the year began, the marijuana industry has seemingly done no wrong. Following the legalization of recreational marijuana in Canada in mid-October, Wall Street is projecting that global weed sales could top $50 billion in roughly a decade's time. And with a compound double-digit annual growth rate comes some very lofty expectations from investors.

Thu
21
Mar

$5.8 million Kentucky plant will engineer hemp into wood

HempWood will be available in blocks, pre-sawn boards, flooring, and finished products such as cutting boards and skateboards at prices lower than oak, the company says on its website.
 
The Kentucky Economic Development Finance Authority approved $300,000 in tax incentives for the operation. The incentives, based on performance, will allow Fibonacci to keep some of its investment by meeting job and investment targets. The company will also receive no-cost recruitment and job placement servies from the Kentucky Skills Network.
 
Thu
21
Mar

Federal Cannabis Industry Banking Reform Bill gets a hearing next week

In the first in what are anticipated to be multiple Congressional hearings to address the federal prohibition and criminalization of marijuana, the House Financial Services Committee has scheduled to convene a markup on The Safe Banking Act, 

Thu
21
Mar

P.E.I. gears up for tourism season with government-sponsored info sessions for cannabis in hospitality industry

Prince Edward Island’s government is sponsoring cannabis information seminars as the province’s first tourism season since cannabis legalization approaches.  Tourism P.E.I. has asked a lawyer in the province to figure out what hotels and other hospitality-industry businesses should be considered moving forward.

Thu
21
Mar

As Mass. weighs social marijuana consumption, chefs test out the budding business

Tara Sue Sharp dotes over a skillet of mushrooms. She sips a cannabis oil-infused mocktail as she readies a meal for a small group of guests. Even though Sharpe has cooked these farm-to-table mushroom tostadas dozens of times before, she’s extra careful now as she adds the key ingredient: a tablespoon of homemade cannabis oil slowly drizzled over over the already-simmering vegetables.

Thu
21
Mar

These marijuana stocks have doubled so far in 2019

There's no doubt that cannabis investing has never been more popular. Many high-profile companies serving the marijuana market have posted amazing gains to start 2019, and the prospects for further growth in the budding industry are only looking brighter as the year goes on.

Thu
21
Mar

How this company is using augmented reality to engage cannabis consumers

Until recently, using the internet has been a mostly two-dimensional experience. Users are limited to stock photos and succinct product descriptions with very little else to influence their shopping decisions. This presents a unique problem for dispensaries and other cannabis businesses when so much of their product appeal depends on scent, sight, even feel. So when Shopify officially launched their AR experience for e-commerce last September, cannabis was one industry that already had their sights set on the change.

Thu
21
Mar

Pot sector players welcome edibles tax change, disappointed medical tax remains

Cannabis industry players welcomed the change in the Federal Budget to tax edibles, extracts, oils and concentrates based on the amount of tetrahydrocannabinol rather than weight, as it could ease pricing for some products and potentially boost product availability.

However, licensed producers and a patient advocate group say they are disappointed that medical cannabis will continue to be taxed, despite a campaign calling on Ottawa to exempt patients.

Organigram's chief executive officer Greg Engel said under the new framework, prices for some of these next-generation cannabis products, depending on potency of tetrahydrocannabinol, or THC, could see some relaxation.

Wed
20
Mar

MJIC closes $15 million raise ahead of plan to go public

California-based  MJIC, Inc. successfully closed a private round of financing resulting in gross proceeds of U.S. $15 million. The company said it is planning on becoming a publicly traded company in 2019 and recently entered into a financial advisory agreement with Haywood Securities.

“This financing will significantly accelerate our growth strategy as we continue to build MJIC’s integrated distribution and retail platform across the entirety of the cannabis ecosystem,” said Sturges Karban, Chief Executive Officer and Board Member of MJIC.

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