Marijuana Business News

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Fri
24
Apr

Ottawa blasts Vancouver's pot shop plans

Health Minister Rona Ambrose sends letter to mayor, warning dispensaries are illegal. 

OTTAWA -- The federal government drew battle lines with the City of Vancouver Thursday over the city’s plans to regulate marijuana dispensaries, saying they are dangerously close to legitimizing an illegal substance.

Prime Minister Stephen Harper’s government said municipal governments have no authority to regulate and license businesses that sell pot.

“I am deeply concerned by reports that the City of Vancouver intends to discuss a proposal to regulate illegal drug dispensaries at an upcoming council meeting,” Health Minister Rona Ambrose told Mayor Gregor Robertson in a letter.

Fri
24
Apr

Majority of marijuana dispensaries break Vancouver's proposed rules

Sixty per cent of Vancouver’s marijuana businesses violate city hall’s proposed rules that they not be located within 300 metres of each other, and more than a third are too close to a school or community centre, an analysis by The Sun shows.

The proposed rules could eliminate 25 per cent of Vancouver’s 80 marijuana-related businesses, predicts the city, and will not “grandfather in” the existing shops. While many of the owners are grateful the city is trying to regulate the industry, nearly all are worried about the future of their locations and hope the rules will be tweaked after some consultation.

Fri
24
Apr

$10M requested for marijuana sales kickoff in Oregon

Economists predict $18 million in Oregon's first two years.

SALEM, Ore. (KOIN 6) — On Thursday, Oregon lawmakers asked for $10 million to get recreational marijuana sales underway in the state, following in the footsteps of Colorado and Washington. But KOIN 6 News learned the tax money generated by pot sales is expected to be much slimmer in Oregon.

As the first state with a full year of recreational marijuana sales, Colorado is the poster child for legal pot. Just last year, the state generated $700 million in marijuana sales — about half recreational and have medicinal.

Fri
24
Apr

Jamaica Group To Assess Ganja Law Amendments For Tourism

Opposition Spokesperson on Tourism and Cruise Shipping, Shahine Robinson has called on Tourism Minister Dr Wykeham McNeil to pull together a working group to exploit the new provisions of the Dangerous Drugs (Amendment) Act as it relates to the use and cultivation of ganja. 

“I am calling on the Minister to establish a small and efficient working group, inclusive of the Health Ministry, Customs and other critical stakeholders to review and assess the amendments and put in a place of programme of work ultimately aimed at enhancing the benefits to Jamaica,” said Robinson in a release.

Fri
24
Apr

UWI to sign MoU with ganja growers, producers association

ST ANDREW, Jamaica — The University of the West Indies (UWI), Mona campus is expected to sign a Memorandum of Understanding (MoU) with the Ganja Growers and Producers Association as a prospective partner in the growing of ganja.

The signing is scheduled for Friday at UWI at 12:00 pm.

On Monday, UWI was granted a licence by the Minister of Science, Technology, Energy and Mining Phillip Paulwell, which permits the Mona campus to engage independent contractors or other approved bodies in the growing of Cannabis Plants for the purpose of conducting research.

Fri
24
Apr

Legal Pot Prices Keep Getting Cheaper

The price of legal recreational marijuana is down to an average of $12 per gram in Washington state lately. Last summer, it was as high as $30 per gram.

One justification for making recreational marijuana legal in Colorado, Washington, and perhaps elsewhere soon is the hope that it will help put an end to the black market, which is unregulated and untaxed and has been known to involve gangs, drug cartels, and crime far beyond the low-level dealing of weed. But it’ll be all but impossible to stop the black market if its prices are substantially cheaper than rates on the up-and-up.

Fri
24
Apr

Tough Questions Marijuana Investors Should Ask

Ever since the SEC cracked down on marijuana-related investments in 2014, potential investors have been painfully aware of the need to conduct adequate due diligence on the early-stage companies that come courting. Last year’s crisis focused on thinly-traded penny stocks.

Fri
24
Apr

Meet The First Potrepreneurs At This Startup Boot Camp For The Billion-Dollar Weed Biz

It's like techstars, but for cannabis!

"At no time in this office should you ever be intoxicated on any substance."

That's not typically part of the opening spiel when welcoming a roomful of budding entrepreneurs to your business boot camp, but then Micah Tapman is not running your typical startup session.

"I know the parties can be a little lively," Tapman, a partner in the new-business accelerator Canopy Boulder, continued. "But you’re a founder in funding mode."

Some of the founders in the room were dressed the part in business casual, while others went for the ultra-casual look: ripped jeans and printed T-shirts.

Fri
24
Apr

For These 55 Marijuana Companies, Every Day is 4/20

More than two years after Colorado and Washington became the first states to legalize recreational marijuana, a small but growing number of publicly traded companies are betting their futures on the hope of a thriving legal market for pot-based products. Bloomberg Intelligence identified 55 public companies whose business is based largely or completely on legal marijuana, and whose shares traded at $0.10 or more as of April 15th. These wildly fluctuating penny stocks aren’t for the faint of heart.

Fri
24
Apr

Is 4/20 Vancouver a protest, or just a farmer’s market for marijuana?

Organizer dodge permit costs by insisting it’s not an event or festival 

Vancouver’s annual 4/20 rally has evolved into a giant farmer’s market for marijuana and attracts tens of thousands of people. So why don’t the organizers have to go through the city’s official permitting process?

According to a city spokesman, officials have repeatedly suggested that organizers obtain a special event permit to hold the gathering at the Vancouver Art Gallery, but to no avail. Despite the increasingly commercial flavour of the day, the rally is still considered a protest, and not an event.

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