Marijuana Business News

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Tue
17
Mar

Reedsport voters will decide marijuana taxes

The Reedsport City Council voted to approve taxes on marijuana sales, when those sales become legal, but voters in the city will have to approve those taxes.

Measure 10-136 will appear on the May 19 ballot.

“Before Measure 91 passed,” Reedsport City Manager Jonathan Wright said, “the City Council passed an ordinance that would institute a tax ... 5 percent on medicinal, 10 percent on recreational. Because of the city's charter, as amended in 2010, it cannot be imposed until ratified by a vote of the people.”

Mon
16
Mar

"Rolling Papers" film on legal pot in Colorado gets distribution deal

"Rolling Papers," Mitch Dickman's documentary about the dawn of legal marijuana in Colorado and The Denver Post's coverage of the related cultural and business developments during the first year, has landed a worldwide distributor.

Alchemy on Monday announced the deal after the film's premiere at South by Southwest in Austin, Texas.

Mon
16
Mar

Colorado's marijuana money problem will be difficult to solve

Colorado has a serious pot money problem.

And it's not that it's being laundered.

The state is on track to have to refund the revenue it generates this fiscal year from two voter-approved retail marijuana taxes: the 10 percent sales tax and 15 percent excise tax were intended to pay for school building construction and the enforcement and regulation of the drug's new market.

COLORADO MARIJUANA TAXES

Ballot projections; FY2014-15 to January

15 percent excise tax: $27.5 million; $12.7 million

10 percent sales tax: $39.5 million; $24.9 million

State spending without new taxes: $12.08 billion

State revenue from the new excise and sales tax: $67 million; $37.6 million

Mon
16
Mar

Medical Marijuana: Who Will Win The Right To Run The Government’s Only Marijuana Farm?

The only federally-approved fields of marijuana in the United States are currently located on the U.S. government’s 12-acre marijuana farm at the University of Mississippi, which has supplied researchers with the drug since 1968. But a new contract to name the official operator of the farm, who will be tasked with growing pot for all the researchers who want to study it over the next five years, will be announced by the end of March. The government's exclusive contract with the University of Mississippi to grow legal cannabis expires on Sunday, and the National Institute on Drug Abuse could choose to move the farm elsewhere.

Mon
16
Mar

California - Marijuana seminar attracts "ganjapreneurs"

San Diego — A group of “ganjapreneurs” looking to break into the budding business of marijuana attended the Cannabis Career Institute seminar Sunday.

Attendees shelled out about $300, which includes the cost of a state-specific text book, to attend the daylong course at a downtown hotel. The curriculum included a handful of speakers who taught different aspects of the marijuana industry — from growing the plant to starting a cannabis business, to navigating the legal and regulatory requirements for the ventures.

Many attendees came with ideas of their own.

Mon
16
Mar

CannabisMD Launches On Demand Physician Service for House Calls

Potential medical marijuana patients who in live in California and are too shy to ask their primary care physician for a recommendation now have an alternative in marijuana doctors who make house calls.

Meadow recently launched CannabisMD for medicinal enthusiasts who want convenience and privacy. “Some patients don’t want to be seen at a doctor’s office or drive to doctors whose offices are located in a sketchy part of town,” said David Hua, Meadow’s co-founder and CEO. “Others are not mobile so they love the experience of being in the comfort of their home and having a doctor arrive to evaluate them.”

Mon
16
Mar

Three Maine tribes weighing legalization of pot on their lands

Former U.S. Marine Ryan Begin rolls a medical marijuana joint at his home in Belfast, Maine, in late November. (Robert F. Bukaty/Associated Press)

Three of Maine’s four federally recognized Indian tribes are discussing legalizing marijuana on their lands, including at least one tribe that is considering commercial-scale production of marijuana as a way to provide jobs and income for its members, reports the Portland Press-Herald.

Mon
16
Mar

City of Portland Mulling a $1,500 Weed Business Permit

Portland City Hall still doesn't know whether the Oregon Legislature will allow it to levy a 10-percent sales tax on marijuana. 

But city officials are already considering another way to pay for local marijuana regulation: a $1,500 permit to operate a pot business in Portland.

city budget document shows officials in theOffice of Neighborhood Involvement still aren't sure if such a permit is allowed underMeasure 91, which legalizes recreational weed. But they are planning to make the price steep.

Sat
14
Mar

Marijuana Medibles Trademark Under Fire – Big Pharma Moves In On American Marijuana Industry

ARE YOU A LOVER OF MARIJUANA MEDIBLES? THE POPULARITY OF THC / CBD INFUSED EDIBLE PRODUCTS – KNOWN AS “MEDIBLES’ – PROVES TOO ENTICING FOR CORPORATE GREED TO IGNORE.

The American Marijuana Industry may still be in it’s infancy stages, but one thing is for sure – it’s not being ignored by Pharmaceutical Companies and Big Business.

One such example may soon be playing itself out in Federal Court – concerning marijuana medibles and the controversial trademarking of the term “medibles” – the validity of the Mark in general.

Big Pharma company Sottopelle Group, Inc has applied for and been granted the Federal trademark for the word medibles, even though the word is considered standard terminology for an “edible” that is “infused” with THC or CBDs.

Sat
14
Mar

Cannabis-Related Hedge Fund Prepares to Launch After SEC Filing

Electrum Partners’ Leslie Bocskor along with his partner Gordon Katz have filed paperwork with the SEC to launch a cannabis-related hedge fund. Placement agents are aiming to raise $25 million.

“Our approach to investing in companies that touch the plant is a process that’s different from firms like Privateer Holdings and Poseidon Investments,” said Bocskor, an investment banker and entrepreneur. “They don’t have our specific process that contemplates investing in companies that touch the plant.”

The Electrum Hedge Fund’s investment strategy will be based on guidance issued by the Department of Justice and Financial Crimes Enforcement Network.

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