Marijuana Business News

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Thu
06
Aug

Winnipeg shop owner disguised 'drug trafficking' business as medical marijuana shop: police

Glenn Price, whose medical marijuana shop was raided by Winnipeg police, has been charged with drug trafficking.

"It was determined that the owner was operating an illegal drug trafficking business which was held out to be a medical marijuana dispensary," police said in a news release.

Several police units searched Price's shop, Your Medical Cannabis Headquarters, as well as a suite in the same Main Street building on Tuesday morning.

The sign is taken down at Your Medical Cannabis Headquarters on Tuesday, following the police raid. (Erin Brohman/CBC)

Police seized a kilogram of marijuana as well as drug paraphernalia from the store, and about two ounces of pot from the suite.

Thu
06
Aug

Cannabis investors balk at New York’s new marijuana licenses

Less than a week after New York state granted five companies licenses to manufacture and sell medical marijuana in the state, not everyone in the industry is impressed. The issue: New York's approach just doesn't do enough to bring the green that counts into the hands of the license holders.

At least two cannabis investors are skeptical about the margins on a national scale, this in spite of a recent forecast that the dispensaries could generate hundreds of millions of dollars in revenue as soon as next year.

Wed
05
Aug

Marijuana growers warned not to use illegal pesticides -- which is nearly all of them

The Oregon Department of Agriculture is warning marijuana growers to stop using illegal pesticides, while the state scrambles to put together a list of acceptable chemicals.

The federal government puts pesticides through tests that determine in what context a chemical may be used in agriculture and how much may be used. Those accepted uses are then listed on the label of the pesticide.

However, because cannabis is an illegal substance according to federal laws, there are no approved pesticides to use in marijuana cultivation. So, while many growers use pesticides, the application is technically against the law.

Wed
05
Aug

A medical marijuana operation in Paris is awaiting the results of a Health Canada inspection before beginning production

Maxim Zavet is hoping to soon begin production of medical marijuana in a converted chicken processing plant in Paris.

The Toronto lawyer and businessman, who began work on the project just over two years ago, is awaiting the results of a Health Canada inspection completed a couple of weeks ago.

"We're waiting with bated breath, hoping to hear something soon," Zavet said in a telephone interview.

Zavet is the co-founder and CEO of Kindcann, the company that is behind the medical marijuana operation that is being set up in an industrial area of Paris.

Wed
05
Aug

Regulations, few patients make New York medical marijuana a bad investment, Syracuse ...

Executives from those companies that won licenses and that will set up manufacturing and dispensary operations shared their strategies to succeed: starting small, diversifying into related products and leveraging experience in other states.

New York state will set the prices marijuana products can be sold at, register patients and train and authorize physicians who can recommend the treatment. Torrens said the small number of patients who are likely eligible, between 120,000 and 125,000 people, will make it difficult for the companies to succeed.

Wed
05
Aug

Banking the Unbanked: A Win-Win Proposition

By Fioana Ma, California State Board of Legalization Board Memeber

I was elected to the California State Board of Equalization (SBOE) in November 2014 to represent nearly ten million constituents in twenty-three counties. The SBOE was created in 1879 by a Constitutional Amendment to "equalize" the 58 independently elected county assessors who in those days were not all assessing, collecting and remitting equally to the state. Today, the SBOE oversees about 35 different tax and fee programs in California, collecting approximately 30% of the state's revenues each year, with the sales and use taxes representing the largest share.

Wed
05
Aug

Marijuana And Banking: Why It’s A Public Safety Issue

In our increasingly cashless economy it can be a genuinely upsetting experience to get to the check-out counter to see a sign that reads “CASH ONLY”, but if you’ve ever participated in the marijuana economy you know this is just the current cost of doing business in a quasi-legal marketplace. However, some are concerned that this is more than an issue of inconvenience; access to banking is an issue of public safety.

Wed
05
Aug

Marijuana Taxes and Restrictions Recreate Prohibition by the Back Door

Are you a government official who yearns for the good old days of marijuana prohibition? Do you feel out of place in an era of voter-approved legalization, grow clubs, and pot shops? My, how the world has changed! But you can feed your nostalgia for busts and streetcorner deals even while "respecting" the public's desire to legalize the stuff. All you have to do is pile so many taxes and regulations on the now officially sanctioned product that it's still cheaper and easier for people to buy their dope on the black market. Everybody wins!

Wed
05
Aug

Tourism, tax revenue up in marijuana-friendly states

A dozen Florida State lawmakers are joining thousands of others in Seattle this week to talk policy, and legalized marijuana is on the lips of many in a state that saw legal marijuana sales begin a year ago.

Washington believes it is collecting taxes on just 10 percent of the marijuana used in the state, partly because medical marijuana is untaxed and unregulated.

Legal marijuana sales began in Colorado 18 months ago. Since then, tourism is up 14 percent.

While Coloradans say the increase is due to a lot of things, K.C. Becker represents the Boulder area and went to Seattle to share the Colorado experience.

Wed
05
Aug

Going green: The guide to doing business with the cannabis industry, part 1

By last count, the number of states permitting some form of medical or recreational marijuana—or both—was 23, plus the District of Columbia. As the marijuana industry continues to expand, so too do the number of more traditional businesses and industries that are doing business with the marijuana industry. Like any industry, the marijuana industry relies, at least in part, on other industries to operate.

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