Marijuana Business News

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Thu
19
Mar

Hemp Inc Launches Flagship Nutraceutical Product In the Market

In order to make good use of the current market conditions, Hemp Inc (OTCMKTS:HEMP) has decided to launch a new flagship Nutraceutical product Green Smoothie Hemp Protein in the market. As per the reports, the announcement was made during the 1st Annual Ascent Expo that took place at the Los Angeles Convention Center recently.

What’s Next:

Thu
19
Mar

Hemp Legalization Trend To Drive Tobacco Stocks

  • Tobacco stocks stand to benefit better than any other big business from the highest potential growth industry in America, that of hemp.
  • From production and packaging to marketing, Big Tobacco is already equipped to own and operate the promising and swiftly legalizing cannabis industry.
  • Hemp is the largest opportunity because hemp has historically been the lifeblood of the world economy, including America from its colonial days to 1937 and then during WW II.
  • Legislation filed in both houses of Congress would exclude hemp from the legal definition of marijuana.
    Thu
    19
    Mar

    Welcome to America's First Government-Run Pot Store

    The first government-run recreational marijuana store in the country opened this month in Washington State. Revenues from the pot shop will benefit the small town of North Bonneville, in the Columbia River Gorge.

    Community leaders there say their town could really use the cash. The economy in that part of the state has been slow to recover since the timber industry collapsed more than two decades ago.

    “There is one gas station. There is one restaurant. There is a golf course. And there is the Bonneville Hot Springs Hotel,” said John Spencer, the former city administrator turned consultant.

    With a few exceptions he’s just described most of the town’s economy.

    Thu
    19
    Mar

    Mexico drug cartels adapting to legalization of marijuana in U.S.

    MEXICO CITY – The growing legalization of cannabis in the United States is forcing Mexico’s drug cartels to rethink their illicit business model, turning to opium poppy plantations and domestic pot consumption, experts say.

    Americans have been legally allowed to light up joints in the U.S. capital since late last month, joining Washington state and Alaska, while Oregon will follow suit in July.

    A total of 23 U.S. states have legalized the drug for medical use, and opinion polls show that a slim majority of Americans favor legalization.

    The changes in the world’s biggest drug market appear to have prompted the criminal organizations producing narcotics in Mexico to switch strategies.

    Thu
    19
    Mar

    Medical Marijuana Facility in Leamington to Expand

    As a result of policy changes introduced by the Conservative government, corporations are taking over medicinal cannabis, concentrating business in the hands of people with ties to Big Pharma.

    One morning in February, Nanaimo councillors and business leaders met in an industrial area about 20 minutes from the city’s downtown.

    The building they stood before is nondescript. But, recounted Sasha Angus, CEO of the Nanaimo Economic Development Corporation, “It’s like a vault wrapped by Fort Knox wrapped in a castle.

    “Cameras, vibration sensors, and a lot of time and effort,” he continued, describing the facility’s security measures. “There’s a vault that’s two feet thick with more vibration sensors. It’s about one level below a nuclear-missile silo.”

    Thu
    19
    Mar

    Marijuana dispensary owner plans to stay open

    Tomorrow is the day.

    The RCMP told Bryan Raiser that he had to close his medical marijuana dispensary by Thursday, March 19.

    Tuesday night he won, symbolically anyway, the support of district of Squamish council.

    Raiser appeared before council Tuesday night and asked that they pass a motion in support of access to medical marijuana derivatives. The motion was similar to that passed in January by city council in Grand Forks, which is also an RCMP jurisdiction.

    The motion stated that council will request that the federal government include marijuana derivatives, such as cannabis oils, be included in the legal marijuana program and that government further review legislation and options for greater local access.

    Thu
    19
    Mar

    Native American marijuana … the next tribal gaming?

    STARKVILLE – Let's take a little trip down memory lane as it relates to casino gaming in Mississippi.

    Casino gaming was legalized in Mississippi in 1990 and was by 1992 open for business on the Gulf Coast and the Mississippi River.

    But Mississippi's gaming landscape – tied to the shores of the Gulf or the banks of the Mississippi by legislative intent – changed in 1992 when then-Gov. Kirk Fordice gave permission for the Mississippi Band of Choctaw Indians to develop a gaming enterprise under a gaming compact. The Silver Star Casino opened in 1994 and the Golden Moon Casino followed in 2002. By 2010, the MBCI had opened the Bok Homa Casino near Sandersville in Jones County.

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    Mar

    Medical Marijuana Financial Landscape to Change: The Financial Ramifications of the CARERS Act

    Aside from the obvious societal and legal implications, the proposal by Senators Rand Paul, Kirsten Gillibrand, and Cory Booker to change marijuana from a Schedule I drug to a Schedule II drug will also have financial ramifications. One of the difficulties in running a marijuana business is dealing with the IRS, still empowered to enforce IRC Code 280E. The code was created during the Reagan era to help in the administration's War on Drugs and specifically prohibits the deduction of normal business expenses from any income derived through the sale of illegal drugs. This includes expenses such as rent and payroll and has resulted in tax rates for some marijuana businesses to approach 70 percent as opposed to a more-normal 30-35 percent.

    Thu
    19
    Mar

    Paying for pot: Card company addresses high priority for marijuana industry

    NEW YORK (MarketWatch)—Paying and accepting cash for “legal” marijuana transactions isn’t easy, or safe for that matter. But prepaid debit card processor Global Payout Inc. GOHE, +8.70%  is aiming to change that with a payment system unveiled Wednesday that’s exclusively for Mary Jane.

    In the marijuana industry, even in the more than 20 states where recreational and/or medical marijuana is legal or decriminalized, cash is the sole method of payment between buyers and sellers. That creates both danger and inconvenience for producers and retailers, according to Global Payout Chief Executive Jim Hancock, as they are forced to handle large amounts of cash.

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    Mar

    NY: Cuomo counsel, legislators and players on details of marijuana plan

    ALBANY—Tensions between the private marketplace and state regulation can seem especially fraught in the burgeoning industry of medical marijuana, as illustrated in a discussion hosted by Capital New York today that included a Cuomo administration official, the legislative sponsors of New York's medical marijuana law and experts in the sector. 

    Responding to criticism about restrictions on the size and scope of New York's planned medical marijuana program, Governor Andrew Cuomo's incoming counsel Alphonso David said, "The reality is marijuana is still illegal, so we had to create a balanced piece of legislation and regulations."

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