Marijuana Business News

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Tue
24
Sep

8 mainstream businesses betting on CBD

CBD’s takeover and introduction into the mainstream has been unprecedented, making many well-known business eager to get involved.

CBD has been called the “next gold rush” so many times, it’s starting to lose it’s impact. Still, the numbers don’t lie, and everything suggests that CBD wellness products are here to stay.

Mon
23
Sep

Big Box blueprint for CBD industry means regulation

For the CBD industry to move into ‘Big Box’ retailers compliance and regulations are key, says a leading industry figure.

Garrett Bain, Chief Sales and Marketing Manger at Canadian cannabis firm GenCanna was speaking the Hemp & CBD Expo in Birmingham, U.K. He said: “The pathway for the CBD industry into the big box retail outlets, in the U.K. with the likes of Tesco and Boots, in the U.S. with Walmart and the others, will be regulation.

Mon
23
Sep

3 cannabis stocks poised for gains in the US CBD market

The greatest barrier to the full exploitation of the cannabis market in the US is the patchwork quilt of various legalization regimes in the country. Cannabis is fully illegal in 9 states, fully legal in 11, and subject a variety of laws in the remaining 30. Some states permit medical use, some permit medical use of CBD extracts only, while others have partially decriminalized it. At the Federal level, marijuana remains fully illegal as a Schedule 1 Controlled Substance, but the closely related hemp plant was fully legalized at the Federal level by the 2018 Farm Bill.

Mon
23
Sep

Canada: Cannabis retail sales top $100M for the first time in July

Cannabis retail sales topped $100 million for the first time post-recreational legalization in July, according to data from Statistics Canada.

The federal agency said on Friday that “gains at cannabis stores were widespread, and across all provinces, with double-digit growth in eight provinces.”

That pushed non-seasonally adjusted sales to $104 million, a 14.3 per cent increase over $91 million sold in June.

Canada's cannabis industry has sold $676.4 million worth of pot in retail outlets in the first 10 months since legalization in October 2018.

Mon
23
Sep

It’s high time someone studied marijuana taxes — so we did

Consumers don’t seem to mind paying sales taxes on things like food and clothing. Marijuana may be a different story.

Mon
23
Sep

Inside look at Chicago’s proposed cannabis rules

The city of Chicago staked out some of its claims in the expected land grab over legalization of recreational marijuana.

Getting into the weed business will require money and luck. The legislation proposed to the City Council today includes fees and a provision for a zoning lottery, and it lays out licensing fees for those who get into the industry.

The city has the option to charge a sales tax of up to 3 percent—in addition to the 20 percent to 34.75 percent cut the state will get from marijuana sales.

Mon
23
Sep

Walmart announces plans to stop selling e-cigarettes

The fallout over the spate of vaping-linked deaths continued on Friday, as Walmart announced that it will stop selling e-cigarettes. 

In a memo to local managers, the world’s largest retailer cited “regulatory complexity” and industry “uncertainty” as its reasoning behind the decision.

“Given the growing federal, state and local regulatory complexity and uncertainty regarding e-cigarettes, we plan to discontinue the sale of electronic nicotine delivery products at all Walmart and Sam’s Club U.S. locations,” the memo said. “We will complete our exit after selling through current inventory.”

Mon
23
Sep

California says nearly all cannabis businesses will be in Statewide tracking system by end of October

California says its system for tracking cannabis products from seed-to-sale will soon cover the entire industry — but regulators still have more work to do.

In May, less than 10 percent of licensed cannabis businesses were enrolled in the system known as track-and-trace. Speaking at a press conference Monday, Nick Maduros with the California Department of Tax and Fee Administration said the state has since made significant progress.

“As of about a week ago, well over half the market is in track-and-trace,” he said. “By the end of next month, we should have just about everybody into track-and-trace.” 

Mon
23
Sep

Vape health concerns: The cannabis winners and losers

According to Grand View Research, the electronic cigarette and vaping market in the U.S. is expected to be worth $47.1 billion by 2025. This represents a compound annual growth rate between 2019 and 2025 of roughly 25%, with this estimate offered by Grand View a mere two months ago. 

However, the e-cigarette and vaping landscape has changed pretty dramatically over those two months.

Mon
23
Sep

Denmark’s medical cannabis industry secures major investment

Cannabis cultivator Atlas Biotechnologies is the latest Canadian firm to establish a base in Denmark where a medical cannabis trial is thriving.

Atlas follows in the footsteps of Canada-based international producers Aphria, ICC International Cannabis, Aurora Cannabis, Canopy Growth and The Green Organic Dutchman. Atlas Growers Denmark has leased a 170,000 sq. ft. indoor mushroom farm for conversion into cannabis production facility.

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