Marijuana Business News

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stocks
business
Mon
27
Apr

Legalized cannabis isn't good business – yet

Marijuana has been smokin’ hot lately, with Wall Street trying to tap into the reefer madness with all sorts of funds aimed at businesses in Colorado and Washington state.

That being said, legalizing or decriminalizing cannabis is not the same as making it good business.

Federal law still considers marijuana a Class I drug (with no redeeming medical value), effectively denying marijuana entrepreneurs access to banking and other financial services and forcing them to operate using large sums of cash.

Some 23 states (and the District of Columbia) have passed measures allowing for some degree of legal recreational and/or medicinal cannabis consumption.

Mon
27
Apr

Forget Marijuana -- This Drug Offers a Far Bigger Opportunity

Legalized marijuana sales are booming in the U.S., with the industry growing by a whopping 74% last year. Even so, total sales came in less than $3 billion in 2014, according to a report from the ArcView Group, showing that the drug remains in its infancy in terms of its economic potential. 

Source: Wikimedia.

The interesting part from an investing viewpoint, though, is that although the medical marijuana market is expected to grow to over $10 billion by 2018, that figure still pales in comparison to other rapidly growing healthcare segments, such as treatments for severe pain.

Source: Wikimedia.

Mon
27
Apr

Cannabis investment has gone mainstream, but not in Washington

It’s no secret that the tech industry likes marijuana. On HBO’s true-to-life comedy “Silicon Valley,” Erlich Bachman, the blowhard entrepreneur, has a marijuana home-grow in his garage, a bong in the dining room and “get kush” on his to-do list.

It took a while, but Silicon Valley’s huge institutional investment funds are finally buying green.
Peter Thiel, co-founder of PayPal (and inspiration for the awkward savant investor in “Silicon Valley”), led the market in January with a $75 million investment in Privateer Holdings, a Seattle-based private equity firm specializing in marijuana.

Mon
27
Apr

Entrepreneurs Enter the Green Rush with Technology

Most of the money during the Gold Rush was made from ancillary businesses, then technology is one of the most important ancillary sectors to look at in the Green Rush. The technology panelists at the Marijuana Investor Summit in Denver had plenty of experience among them, but as the panel moderator Michael Mayes pointed out, the bulk of the experience was in technology and software. The panelists had experience with many companies spanning a number of industries.

Mon
27
Apr

Gatineau’s Hydropothecary growing to meet medical marijuana demand

The faded sign off a West Quebec road still points to an old garden centre.

But the greenhouses at the end of the peninsula in the Masson-Angers neighbourhood of Gatineau no longer grows the types of plants your average gardener buys in spring.

The former Botanix-Aux Jardins de La Pointe now houses the Hydropothecary, a small-but-growing medical marijuana production plant. It’s the first of its kind in Quebec.

 

``We get at least two or three cars showing up a day, saying, where do we get our flowers?” said Adam Miron, who co-founded the company with his brother-in-law Sébastien St-Louis.

Mon
27
Apr

Washington gov. signs overhaul of medical marijuana market

OLYMPIA, Wash. (AP) — Nearly two decades after voters passed a medical marijuana law that often left police, prosecutors and even patients confused about what was allowed, Gov. Jay Inslee signed a bill Friday attempting to clean up that largely unregulated system and harmonize it with Washington's new market for recreational pot.

Among the law's many provisions, it creates a voluntary registry of patients and, beginning next year, eliminates what have become in some cases large, legally dubious "collective gardens" providing cannabis to thousands of people.

Mon
27
Apr

Growing Pains: Can Seattle Become A Marijuana Tourism Mecca?

When Washington state legalized recreational marijuana use last July, Seattle’s tourism industry saw a new opportunity. Could Seattle become a hub for pot tourism, with eager visitors piling into local hotels and Airbnbs for an opportunity to try some of that famous Pacific Northwest weed? The answer, in a word: yes. But not without a struggle.

Before Seattle could become another Amsterdam, local businesspeople and tourism agencies had to (and still do) deal with some unexpected issues. Building a marijuana tourism mecca, it turns out, isn’t as simple as sparking up a spliff.

So How Does This Legal Recreational Marijuana Thing Work, Anyway?

Mon
27
Apr

Ian Mulgrew: Nothing confusing about marijuana laws

Ottawa is unequivocal in its stance on pot.

A generation after Canada’s first medical cannabis dispensary opened in Vancouver in 1997, city council and police are scrambling to regulate the business as if taken by surprise.

City Manager Penny Ballem says Ottawa has created “greyness and confusion,” sounding incredulous that there is a pot precinct downtown and more cannabis cafés on corners than Tim Hortons.

Where has she been?

The federal government has never been clearer about the demonized weed and has used the plant to draw a hardline for the fall election between it and Liberal leader Justin Trudeau.

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.

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