Marijuana Business News

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Sat
01
Aug

WHY PROJECT CBD LOSES MOTION TO DISMISS $100 MILLION LAWSUIT

MJNA Defeats Project CBD’s Motions – Moves Forward $100 Million False Claims Lawsuit

Sat
01
Aug

Federal bankers: No account for Colo. cannabis credit union

DENVER – A Colorado-based credit union created to serve the country’s fast-growing legal marijuana industry sued banking regulators on Thursday after being denied access to the nation’s electronic banking system.

The Fourth Corner Credit Union won organizing approval from Colorado regulators in November, and organizers quickly asked the Federal Reserve in Kansas City in grant it a master account number, allowing it to make electronic funds transfers like any other bank or credit union. The Federal Reserve in Kansas City this month rejected that request because the National Credit Union Administration refused to grant deposit insurance to Fourth Corner. The NCUA is an independent federal agency that charters and supervises credit unions.

Fri
31
Jul

Amherst chosen for medical marijuana dispensary

AMHERST, N.Y. (WIVB)- By January, medical marijuana will be dispensed in a corporate park in the Town of Amherst.

Among the five companies chosen by the NY State Health Department to manufacture medical marijuana is Pharmacann out of Chicago, which plans to put one of its dispensaries at 25 Northpointe Parkway, near North French Road.

A Pharmacann spokeswoman tells News 4 the company secured the Amherst location months ago in the hopes they would be chosen to put a dispensary there.

Fri
31
Jul

AXIM Biotechnologies Clarifies Relationship With Medical Marijuana, Inc. and CanChew ...

NEW YORK, July 31, 2015 (GLOBE NEWSWIRE) -- A statement from AXIM Biotechnologies (OTC:AXIM), an innovative biotechnology company:

Fri
31
Jul

Minnesota medical marijuana producer expanding to New York

Minnesota Medical Solutions, one of two Minnesota medical marijuana producers, is expanding to the state of New York.

The company started sales earlier this month in Minnesota, and was one of five successful bidders to provide similar products in New York.

The New York branch, Empire State Health Solutions, will be run by the same Minnesota physician, Dr. Kyle Kingsley.

Kingsley said Empire State Health Solutions will be developing a growing and manufacturing operation in Perth, in central New York state.

Fri
31
Jul

Johnson City misses out on medical marijuana plant

A Syracuse-based company is looking to turn the vacant Giant Food Mart building in Johnson City into a cultivation center for medical marijuana.(Photo: Getty Images)

A planned facility to manufacture marijuana in Broome County went up in smoke Friday as the New York Department of Health passed over a Syracuse-based company’s bid to grow a medicinal form of the drug in Johnson City.

Salus Scientific lost out on one of the five winning slots for the lucrative rights to manufacture and dispense medical marijuana in New York, and with it the 200 local jobs the company estimated they would have brought to the area.

Fri
31
Jul

New York State Awards 5 Medical Marijuana Licenses

ALBANY — Mirroring a national trend toward an acceptance of marijuana, the New York State Department of Health announced the names of five organizations on Friday that will be allowed to sell the drug for medical use in the state.

The organizations will be registered with the state, and each will be allowed to open up to four so-called dispensaries statewide. They are required to be doing business within six months, meaning medical marijuana could be on sale in New York before the end of the year.

Fri
31
Jul

5 firms selected to grow marijuana in New York

The state of New York has given the green light to legally grow marijuana — in Queens.

The Cuomo administration announced Friday that it has selected five firms to manufacture and dispense marijuana to chronically ill patients at 20 locations across the state.

The marijuana will be grown at five indoor facilities.

Bloomfield Industries will operate a “grow house” in Queens, the state Health Department said in a statement.

The other four pot plant manufacturing plants will be located north of the city — in Orange, Monroe, Warren and Fulton counties.

But not all patients with prescriptions for marijuana will have an easy time getting their cannabis at 20 designated locations.

Fri
31
Jul

What a Move on Surna Inc

Surna Inc (OTCMKTS:SRNA) is moving steadily higher in recent weeks since reversing off $0.0425. This comes after months that Investors would love to forget steadily dropping since a brief pop in January.

On July 14 SRNA announced the expansion into a neighboring, second, facility to substantially increase the Company’s operating footprint.

Fri
31
Jul

Two medical marijuana dispensaries coming to Erie County

Two of the five companies selected to grow and sell medical marijuana in New York will open dispensaries in Erie County, the state announced Friday.

But none of the companies selected are from Western New York.

The five licensees are: Bloomfield Industries Inc., Columbia Care NY LLC, Empire State Health Solutions, Etain LLC and PharmaCann LLC. The Health Department released only the company names and the counties where they will set up their manufacturing centers and their dispensaries. The closest manufacturing site will be in Monroe County. Bloomfield Industries and PharmaCann will each have a dispensary in Erie County.

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