Marijuana Business News

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Mon
10
Aug

Marijuana market takes root

Mike Graham moved from row to row of his roughly 20,000 marijuana plants Wednesday afternoon, describing how his production and processing business is looking forward to the harvest.

“We’re moving right along here, and we’re excited to have a full season,” he said. “And have a season where we’re operating according to our own schedule.”

Graham is the proprietor at Natural Mystic Farms on Naneum Road, a state-licensed recreational cannabis producer-processor.

The plants grow in rows above ground, under hoops workers can tarp over to limit sunlight and stimulate flowering and create a greenhouse-like environment.

Mon
10
Aug

Distributing marijuana: Alcohol wholesalers want a piece of the profits

LAS VEGAS (KSNV News3LV) -- Even before customers can buy recreational marijuana in Nevada, alcohol distributors want to get in on the profits.

Alcohol wholesalers want to earn a piece of that pie by distributing the drug. That's why many alcohol wholesalers are backing a 2016 ballot measure to legalize recreational marijuana. If passed, they'd be the middle men between growers and dispensaries.

Irene Lavis wants to see marijuana regulated.

"I think that's an awesome idea. It will keep the crime rates down, if you regulate it you will be able to track where the pot is going," says Lavis.

Nevada State Senator Tick Segerblom supports the measure.

Mon
10
Aug

When lighting up is bad for the marijuana industry

For the medical marijuana industry, smoking weed is usually a good thing. But a raging wildfire in California is bringing a bleaker meaning to the phrase.

A wildfire in northern California that started last week has burned more than 69,600 acres as of Friday morning, including marijuana farms. More than 13,000 people in the area have been evacuated, and the fire is only 45% contained, according to Cal Fire, the state agency responsible for fire protection.

The agency reports that 43 residences and 53 outbuildings — auxiliary structures like barns and sheds —have been destroyed, eight structures have been damaged and about 6,500 homes, buildings and other structures are threatened by the spreading flames.

Mon
10
Aug

Growing Confidence: Aurora's Cullen a quick study in pot biz success

The former Douglas County biology teacher used to spend his weekdays cleaning beakers, grading quizzes and thinking up creative ways to teach the Krebs Cycle.

Now, Cullen and his business partner, Ralph Morgan, are the heads of a burgeoning retail empire that boasts 47 employees, about 55,000 square feet of industrial space across the metro region and more than $8 million in annual revenue.

“And here ensue all the ‘Breaking Bad’ jokes,” Cullen said with a bashful laugh.

No Pollos Hermanos, here, however.

Mon
10
Aug

Pakalolo and Profits: Hawaii's Emerging Medical Marijuana Industry

Michael Irish is a longtime Oahu businessman best known as CEO of Diamond Head Seafood Wholesale and Keoki’s Lau Lau.

But next year, he may be involved in a different industry — growing marijuana and selling it at Hawaii’s newly legalized medical cannabis dispensaries.

Three weeks ago, the owner of nine kim chi and four sauce companies registered a new limited liability company, Hawaiian Isles Marijuana, with the state Department of Commerce and Consumer Affairs.

Sun
09
Aug

Tacoma Armory to host marijuana trade show and seminars — and a cannabis competition

Previous cannabis-related conventions and trade shows in Washington have lacked only one thing: cannabis.

That is about to change.

Given what he’s about to bring to Tacoma, the “M” in Cory Wray’s MBA might well stand for marijuana, a substance of which he claims to be a longtime consumer.

The Bethel High School and University of Washington Tacoma graduate, 32, has inked an agreement and begun promotion for the Northwest Cannabis Classic, a three-day event featuring speakers, seminars, a trade show with vendors and, again, cannabis itself.

Previous organizers have discovered that state law prohibits actual marijuana being present or being consumed at venues that hold a license allowing the consumption of alcohol.

Sun
09
Aug

The Pot Industry: A Hotspot For Women Entrepreneurs

Jazmin Hupp thinks its long past time for women to lead an industry. The one she has in mind happens to be the fastest-growing in the county—the cannabis industry.

Hupp and her co-founder, Jane West, run Women Grow, a network for women in, or who want to be in, the marijuana industry. The opportunity is big. Marijuana is now legal, to varying degrees, in about half of states. Legal sales totaled about $2.7 billion last year, up from $1.5 billion the previous year, and are projected to reach 10.8 billion by 2019, according to the ArcView Group, an investment and research firm covering the industry. “We’ve had artificial barriers up to this point, and as those disappear, millions of dollars will flow in to the industry,” says Hupp.

Sat
08
Aug

Texas cannabis capitalists are ready to seed the soil

AUSTIN - Texans with epilepsy may not be buying legal cannabis oil here until 2017, but home-grown entrepreneurs are already lining up for a cut of the mainstream marijuana business.

If there’s any doubt about their belief in marijuana as a medical remedy, five words underscore their seriousness: Texas Cannabis Chamber of Commerce.

 

The group is one of several - others include the Texas Cannabis Industry Association, Christians for Liberty and the Med Can Foundation - with meetings this weekend in Austin to address the state's budding, legal marijuana trade.

Sat
08
Aug

Manna Wellness awaits word on medical marijuana facility application for Pittsfield

PITTSFIELD — A nonprofit company hoping to locate a medical marijuana facility in Pittsfield expects to hear soon whether the application will make it into the next phase of the state Department of Public Health's license review process.

Julia Germaine, of Manna Wellness Inc., said this week that notification from the state could come within a few days. If Manna Wellness is invited to submit information in a second application phase, that would require further details about the nonprofit and its principals.

A third application phase would deal with site location and community support.

Sat
08
Aug

Washington: Local marijuana businesses rake in nearly $4M in total sales

Statewide, I-502 companies see $256M in sales; $67M in taxes

All told, the legal recreational marijuana business has made more than $265 million statewide since business began opening in June and July last year. From that, the state has raised $67 million in excise taxes.

For the most part, which parts of the state are seeing the most sales seems to mirror population. King, Spokane and Clark counties see some of the largest shares of sales on the retail sale and processing sides of the industry.

Eastern Washington, however, has seen the most sales on the production end, with Benton, Chelan and Spokane counties contributing the most to the $5.4 million in total sales recorded in that sector.

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