Marijuana Business News

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business
Mon
27
Apr

Green Dragon Marijuana Shop Could Change Hands

The City of Aspen’s local licensing authority will consider its first change of ownership application for a marijuana shop next month. Aspen Public Radio’s Carolyn Sackariason reports.

A Denver man has applied to the city clerk’s office to potentially buy the Green Dragon on the Hyman Avenue Mall. The application says the buyer, Ryan Milligan, plans to invest $7.2 million dollars in the deal. It would be financed by a loan from Andrew Levine, also of Denver.

Getting local approval for a change in ownership is just one step in an arduous process required by the state. Ron Radtke, owner of the Green Dragon, declined to comment on the deal. He also would have to get approval from the state to sell his business.

Mon
27
Apr

Power needs of pot industry raise issues with Energy Dept.

As the state works out rules regulating recreational marijuana in Oregon, the electric power needs of indoor pot operations are raising issues for energy officials.

 

SALEM — As Oregon prepares for legal marijuana July 1, the state’s energy agency is looking for ways to curb electricity use by indoor pot growers.

Indoor marijuana gardens are well-known power hogs, but Oregon faces a dilemma as it researches how to extend its energy efficiency programs to the cannabis industry: federal money that typically helps pay for efficiency projects cannot be used for any activities that involve pot.

Mon
27
Apr

REBRANDING POT: HOW SQUARES ARE SPARKING THE NEXT MASSIVE INDUSTRY

THE BILLION-DOLLAR GREEN RUSH IS ACCELERATING EVERY DAY. BUT THAT DOESN'T MEAN IT'LL BE A MELLOW RIDE.

Five years ago, Brendan Kennedy had to psych himself for a tough conversation with his wife, Maria. Until that point, Kennedy had taken a pretty straightforward path for a tech entrepreneur. He’d launched two successful companies. He’d earned an MBA from Yale. He’d been the COO of Silicon Valley Bank Analytics, which provides research to venture-backed companies.

Mon
27
Apr

Lawyers turn to business of marijuana

SAN FRANCISCO – Lawyers and pot dealers have long intersected in criminal court, but as marijuana goes mainstream, attorneys have been working to keep sellers and growers legit.

Marijuana divisions are popping up at law firms to advise pot shops on where they can locate, what their websites can say and how to vet new clients.

“It’s definitely something that established firms are dipping a toe into, though they are being very cautious, and rightly so,” said Sam Kamin, a professor at the University of Denver Sturm College of Law who teaches a class about representing the marijuana industry.

Kamin said the firms see marijuana as a lucrative new industry, but still worry about the potential ethical and legal pitfalls – and how it will affect their reputations.

Mon
27
Apr

Aurora recreational pot venture going well after first six months

Six months into Aurora's venture of recreational marijuana sales, city officials say after a slow start everything is going about as well as could be expected.

In January, the city collected about $103,000 in tax revenue and another $109,000 in February. In the last three months of 2014, as a few stores opened, Aurora earned a little over $100,000 total.

By the end of 2015, the city expects to have between $1.5 million to $2 million in revenue from legal pot sales.

And those who waded through the process and claimed one of the city's 24 licenses are starting to see big dividends.

Sun
26
Apr

MassRoots Partners with Seed-to-Sale System Flowhub

The MassRoots team is thrilled to announce that we are partnering and taking an equity position in a full seed-to-sale system, currently operating in stealth under the name Flowhub. Over the coming weeks, the MassRoots and Flowhub development teams will be integrating their systems, expanding the services available to MassRoots' users and dispensaries.

Sun
26
Apr

Is medical marijuana acceptable in the workplace?

Medical marijuana use continues to grow in Canada which has led to questions about whether it's appropriate to take it at work.

"There's still a lot of stigmatization out there," said employment lawyer David Whitten.  

"A lot of people are basing their thoughts and ideas on movies that came out in the '80s. We've come a long way since then and it's recognized just like any other medication," Whitten told CBC Radio.

Although Whitten said employers need to be more flexible when it comes to allowing workers to use weed at work, he does acknowledge there are occasions when an employer can ask a worker not to take their medicine.

Sun
26
Apr

Eye on NY: Meet the man behind proposed medical marijuana growing facility in Seneca County

When discussing medical marijuana, the conversation inevitably turns to whether the federal government or a state will legalize recreational use of the drug. 

That's not the case when you're talking to Josh Stanley, who has been called the "pioneer" of Colorado's medical marijuana industry. 

Stanley and his business, Citiva Medical, are focused squarely on the medicinal uses of the cannabis plant. With New York legalizing the use of medical marijuana, the company is looking to be one of five licensed growers of the drug in the state. 

For Stanley, the question is why move to New York? Why not stay in Colorado where he became a leading voice for the medical marijuana movement? 

In short, it's about science. 

Sat
25
Apr

Duo set to launch medical marijuana facility that will ship pot across the country

Two young entrepreneurs are confident their business plan for a medical marijuana facility, set to launch within weeks in Masson, Que. will bring them success, and more importantly, relief to sufferers across the country.

Sebastien St-Louis and Adam Miron, both 31, are brothers-in-law and co-founders of the Hydropothecary -- a facility that will soon distribute medical marijuana throughout Canada.

"Like all good Canadian companies, this was an idea that was born around a campfire at a cottage," Miron told the Sun.

The concept has come a long way since it was first envisioned in July 2013, between the pair and childhood friend, Max Cyr who now serves as customer service manager for the company.

Sat
25
Apr

Legal Cannabis Industry Projected to be Worth $40 Billion in Near Future

Marijuana Industry Worth More than the NFL & Organic Food Industries

As noted in a recent article for Seattle Weekly, "According to ArcView research, an estimated $2.7 billion of legal [cannabis] was sold in the U.S. last year (a 74 percent increase from the $1.5 billion in 2013).  Sixteen million Americans admitted to having fired up in the last month.  As the ranks increase, the industry is projected to grow to $10.8 billion by 2018, and $40 billion by 2020, making it bigger business than the NFL or the organic food industry."

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