Marijuana Business News

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Sat
01
Aug

Pot industry's bank bid rejected by federal regulators

The Fourth Corner Credit Union, a financial house created for the pot industry, has filed two lawsuits this week challenging their denied applications by the National Credit Union Administration and the U.S. Federal Reserve.

In 23 states, medical marijuana is now legal and in Colorado, Oregon, Washington, Alaska and the District of Columbia recreational marijuana is legal. However, it is still illegal on the federal level.

The Fourth Corner Credit Union is not allowed to accept any marijuana business until they get federally insured.

Sat
01
Aug

Marketing Comes to Marijuana

In November 2014, the family of late musician Bob Marley announced the launch of what it claimed would be the first global cannabis brand, Marley Natural. The brand plans to begin offering cannabis products, including heirloom strains, in 2015. Their press conference was a far cry from what marijuana advertising has been in the past—ranging between word of mouth and non-existent. Rather than hearing about new strains from shady characters and being forced through the charade of “for tobacco use only” products, legalization means cannabis marketing can finally come out of the shadows and into the fore. Just before Marley’s family made their announcement, two more states, Alaska and Oregon—as well as the District of Columbia—legalized recreational use for adults over the age of 21.

Sat
01
Aug

CA State officials worry legalizing recreational marijuana will criminalize businesses, governments

The comments came as part of an informational hearing called by members of the state Board of Equalization to figure out how to give banking services to the marijuana business so operators can pay taxes. Attendees included state officials, marijuana retailers and representatives of financial institutions.

Sat
01
Aug

Investing in Canadian Marijuana

THIS Will Send Marijuana Stocks Through the Roof!

Although few want to admit it, health insurance companies are not in business to make you feel safe and secure.

Insurance companies exist to make money.

I don’t say this to be negative. In fact, it’s not really a criticism — more like an observation. Because the bottom line is that if an insurance company can’t make money, it can’t exist.

Pharmaceuticals, MRIs, doctor visits — this stuff ain’t cheap. So I’m never surprised when I hear that a health insurance company is looking for new ways to make a buck.

One of the more interesting that recently came across my desk was a new policy that would allow patients to get insurance coverage for medical marijuana.

Sat
01
Aug

WHY PROJECT CBD LOSES MOTION TO DISMISS $100 MILLION LAWSUIT

MJNA Defeats Project CBD’s Motions – Moves Forward $100 Million False Claims Lawsuit

Sat
01
Aug

Federal bankers: No account for Colo. cannabis credit union

DENVER – A Colorado-based credit union created to serve the country’s fast-growing legal marijuana industry sued banking regulators on Thursday after being denied access to the nation’s electronic banking system.

The Fourth Corner Credit Union won organizing approval from Colorado regulators in November, and organizers quickly asked the Federal Reserve in Kansas City in grant it a master account number, allowing it to make electronic funds transfers like any other bank or credit union. The Federal Reserve in Kansas City this month rejected that request because the National Credit Union Administration refused to grant deposit insurance to Fourth Corner. The NCUA is an independent federal agency that charters and supervises credit unions.

Fri
31
Jul

Amherst chosen for medical marijuana dispensary

AMHERST, N.Y. (WIVB)- By January, medical marijuana will be dispensed in a corporate park in the Town of Amherst.

Among the five companies chosen by the NY State Health Department to manufacture medical marijuana is Pharmacann out of Chicago, which plans to put one of its dispensaries at 25 Northpointe Parkway, near North French Road.

A Pharmacann spokeswoman tells News 4 the company secured the Amherst location months ago in the hopes they would be chosen to put a dispensary there.

Fri
31
Jul

AXIM Biotechnologies Clarifies Relationship With Medical Marijuana, Inc. and CanChew ...

NEW YORK, July 31, 2015 (GLOBE NEWSWIRE) -- A statement from AXIM Biotechnologies (OTC:AXIM), an innovative biotechnology company:

Fri
31
Jul

Minnesota medical marijuana producer expanding to New York

Minnesota Medical Solutions, one of two Minnesota medical marijuana producers, is expanding to the state of New York.

The company started sales earlier this month in Minnesota, and was one of five successful bidders to provide similar products in New York.

The New York branch, Empire State Health Solutions, will be run by the same Minnesota physician, Dr. Kyle Kingsley.

Kingsley said Empire State Health Solutions will be developing a growing and manufacturing operation in Perth, in central New York state.

Fri
31
Jul

Johnson City misses out on medical marijuana plant

A Syracuse-based company is looking to turn the vacant Giant Food Mart building in Johnson City into a cultivation center for medical marijuana.(Photo: Getty Images)

A planned facility to manufacture marijuana in Broome County went up in smoke Friday as the New York Department of Health passed over a Syracuse-based company’s bid to grow a medicinal form of the drug in Johnson City.

Salus Scientific lost out on one of the five winning slots for the lucrative rights to manufacture and dispense medical marijuana in New York, and with it the 200 local jobs the company estimated they would have brought to the area.

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