Marijuana Business News

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stocks
business
Thu
21
May

OXIS Conducting a Reverse Split to Meet NASDAQ Listing Requirements? Wishful Thinking!

Yesterday, Oxis International Inc. (OXIS) filed an information statement stating that its shareholders approved a reverse stock split at a ratio to be decided by the company’s board of directors. The reverse split will not be less than 1-for-50 and it will not be more than 1-for-250. The company’s primary reason for the reverse split is to become listed on the NASDAQ

Thu
21
May

Bankers, Lawyers, And The Conflict Between State And Federal Marijuana Laws

by Seth A. Goldberg

An article in The Philadelphia Inquirer reported about the reluctance of major banks to participate in the marijuana industries in those states that have legalized marijuana for recreational and/or medicinal purposes because marijuana is still a Schedule 1 controlled substance under the federal Controlled Substance Act. I have previously written that lawyers in those states share similar concerns because the rules of ethics prohibit lawyers from assisting clients in illegal activities.

Thu
21
May

Ottawa marijuana vapour lounge to reopen as early as Friday, says owner

The shuttered marijuana vapour lounge in Vanier vows to reopen as early as this week after the city slapped it with a cease-and-desist order and a hefty fine last Friday.

On its Facebook page, BuzzOn says it is “optimistic” it can reopen its doors to the public by Friday after speaking with a lawyer about rezoning the building.

City officials visited the Montreal Road lounge to serve a notice that BuzzOn is in violation of the building code and must be rezoned as a place of assembly.

Owner Wayne Robillard accused the city of using a “strong-arm tactic” to shut the place down for good.

The city said in a statement the cease-and-desist papers were issued from a safety perspective to keep the business in line with building code requirements.

Thu
21
May

Vegas cops arrest 10 at medical marijuana convention

The Las Vegas Metropolitan Police Dept. reported on Tuesday that 10 people were arrested this past weekend at a medical marijuana education convention.

The convention is called Hempcon and it is a three-day marijuana convention that was held at the Cashman Center in Las Vegas over the weekend. Weed enthusiasts everywhere showed up for its pot-filled events. However, cops had other plans.

According to Lt. Laz Chavez, with Metro’s Narcotics Section, vendors at five booths were caught selling pot to undercover officers, per Fox 5 Vegas.

Thu
21
May

Marijuana expo draws 'gold rush' to Illinois

Oils and extracts, vaporizers, grow lights and joint rollers filled a marijuana convention in Chicago on Wednesday — without a puff of pot in the air or a single leaf of the drug yet sold legally in Illinois.

More than 2,000 people attended the Marijuana Business Conference & Expo, hoping to cash in on a business that is forecast by one industry-backed market research group to grow to $11 billion in annual sales nationwide by 2019,.

Thu
21
May

“Get your hands on the good stuff”: Naked man soap-on-a-rope ad not so dope for The Body Shop

Is this Body Shop ad campaign daring or just dopey?

The Body Shop is facing pressure on a number of fronts to drop the latest advertising campaign for its hemp-based skincare products, with social media users and activist group Collective Shout calling out the retailer’s use of an image of a naked man holding an oversized piece of soap in the shape of a hemp leaf.

But one advertising expert says the criticism is just an example of the ongoing “conservative backlash” against advertising that may test some boundaries.

Thu
21
May

Allan Rock says medical marijuana business is wife's venture, not his

The president of the University of Ottawa says he is not involved in a medical marijuana operation that his wife and one of their children are setting up.

Allan Rock issued a statement Wednesday contradicting a published report that suggested he has a role in a company looking to call itself RockGarden Medicinals.

“I have no involvement with this application nor the proposed business venture that is being planned,” Rock said in a statement to the Citizen. “I am not a director, shareholder, officer, employee or advisor of the company they have incorporated to carry on their business should they be granted a licence. I do not attend meetings, provide counsel, or participate in any other way in the proposed venture.”

Thu
21
May

Australia: Opposition to medical cannabis based on 'faith, not logic'

Medical cannabis will eventually be legalised in Australia and opposition is based on "faith, not logic", the chairman of a business granted permission to grow crops on Norfolk Island has said.

Former West Australian Liberal MP Mal Washer, who is a GP and chairman of a Perth-based company which has just been granted permission to grow medical marijuana on Norfolk Island for export to Canada, said the growing operation would be closely monitored.

The company had previously sought permission to grow cannabis in Tasmania but encountered too much opposition.

Thu
21
May

Watch: Washington marijuana industry could grow fast with tax bill

As marijuana businesses expand in Washington State, a bill being debated in Olympia could prompt the industry to grow even more.

Producers, processors and retail shop owners are closely watching HB 2136, which would rework some of the current regulations and change the tax structure. Some marijuana businesses say it's nearly impossible to make any money under the current tax structure.

"We've learned a lot since I-502 passed," says Rep. Reuven Carlyle (D-Seattle), the bill's primary sponsor. "This is an update, and a modernization of the current initiative."

Thu
21
May

MCSO: Large marijuana grow busted south of downtown Phoenix

Other addresses included apartments and homes, plus the ZaZa Nails & Spa salon in Anthem, which Arpaio said was being used to launder money.

The warehouse, which featured four growing rooms, was the only location where marijuana was being cultivated, deputies said. The two-story tan building, about 50 feet on the square, featured two large roll-up doors and was protected by a cinder-block perimeter wall topped with rolls of razor wire.

During the early-morning drug bust, the odors of fresh marijuana and fertilizer overpowered those of diesel trucks roaring by on busy Seventh Avenue.

Arpaio said he was a little surprised that the indoor farm could be hidden from the public so well, but added that the drug ring was a "sophisticated operation."

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