Marijuana Business News

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stocks
business
Thu
23
Apr

Steep Hill Labs Inc. is raising $5 million for US expansion and Jamaica

Berkeley-based Steep Hill Labs Inc. is raising $5 million to expand into two states and Jamaica this year as well as pursue innovations in its testing equipment and genetics-related products.

Steep Hill, which employs 30 people, generated $1.2 million in revenue in 2014 and has raised $4 million since its founding in 2008. The company is taking advantage of the Jobs Act to raise its next round of financing from accredited investors, who meet SEC qualifications involving their annual income or net worth to participate in the offering.

Thu
23
Apr

Kevin Harrington’s Keynote Captivates at Marijuana Investor Summit

Sharks were circling at the Marijuana Investor Summit—TV sharks. Kevin Harrington, who is well known as one of the original sharks from the ABC series “Shark Tank,” gave the summit’s keynote address on April 21, 2015, at the Crowne Plaza Hotel DIA in Denver, Colorado.

Thu
23
Apr

Illinois: Medical pot extension bill passes in the House

A bill to extend the state’s medical marijuana pilot program overwhelmingly passed the House Tuesday.

The bill passed 81 to 28 with one legislator voting present, according to state records.

Rep. Lou Lang, D-Skokie, who sponsored the extension and has championed the state’s medical marijuana law, said he’s hopeful the bill will make it through the Senate and that Gov. Bruce Rauner will sign it — allowing the delayed medical marijuana program to have a full four years of operation before expiring.

Lang’s bill seeks to extend the program four years from when the first dispensary begins officially operating. It’s now set to expire at the end of 2017.

Thu
23
Apr

Why Brand Awareness is Worth a Million Clicks

Maybe you’ve heard this one. A little off-colour, it involves an old bull and a young bull comparing strategies for romantic conquest. The young bull’s preferred approach depends on haste and surprise, and promises unreliable and limited results, despite his enthusiasm. The old bull’s is predicated on patience and theatre, and the punchline leaves us confident that his results are going to be more satisfying.

I have to confess, I didn’t actually get the joke myself until well into adult life, but I can be slow about these things. Still, its truth as a marketing parable really only resonates after a bit of experience: The less interest there already is for what you’re trying to sell, the more expensive and uncertain your effort will be.

Thu
23
Apr

Legal Marijuana's $40 Billion Future

Hey you, yes you, Smokey Joe over there with your dime bag or your “medical” marijuana card. Why don’t you put the vaporizer down and do something constructive like, oh, maybe go work for Privateer Holdings.

Privateer invests in legal marijuana companies, and it just raised $75 million for a total of $82 million. That’s a lot of cash for grass. Its clean-cut crew has invested in three firms so far: Tilray, which focuses on medical marijuana in Canada; Leafly, which helps users explore strains and find dispensaries; and Marley Natural, which will offer hemp-infused lotions.

Wed
22
Apr

Vancouver's proposed $30000 fee for marijuana-related businesses deemed 'unfair'

VANCOUVER -- Travis Williams works in the Cannabis Culture lounge on Davie Street, which does not sell weed but charges a $5 fee for people to bring in and smoke their own. A separate marijuana dispensary, run by Eden Medicinal Society, is located in the same building with a door that opens into the hazy lounge.

The businesses appear to violate two of the city’s proposed new regulations: that two marijuana-related business cannot operate within 300 metres of each other and that they cannot be located within 300 metres of a school.

Lord Roberts Elementary in the West End is just 180 metres from the two outfits on Davie.

Wed
22
Apr

Michigan Landlords allowed to ban use of marijuana on property according to new ammendment

The Michigan House of Representatives Judiciary Committee approved on Tuesday an amendment to the Michigan Medical Marihuana Act that will protect landlords on prohibiting the use of marijuana on their property, including medicinal marijuana.

The amendment, introduced as Senate Bill 72 by state Sen. Rick Jones, R-Grand Ledge, states that a landlord is not required to lease residential property to any person who smokes or cultivates marijuana on the premises if the lease stipulated a prohibition on the drug.

Attorney and Michigan Cannabis Development Association spokeswoman Denise Pollicella testified in favor of the amendment, and said it will prevent “unnecessary litigations.”

Wed
22
Apr

Vancouver City Council to regulate marijuana sales

The City of Vancouver is introducing a plan to regulate all marijuana-related businesses to achieve “a careful balance between ensuring adequate availability for those in need and ensuring community health, safety, security, aesthetics, equity and enjoyment of property.”

In a press release, the City cites the lack of a clear regulatory framework for how and where marijuana businesses operate and emphasizes how quickly the industry has grown in Vancouver, with a growth rate of 100 per cent per year in marijuana-related businesses, including from 60 to 80 in the last four months alone.

Wed
22
Apr

Hitting Pot Jackpot? Tribe Starts Medical Marijuana Cultivation

Another California tribe has announced its venture into the medical marijuana business. The Torres Martinez Desert Cahuilla Indians in Thermal, about 32 miles southeast of Palm Springs, recently entered into a partnership with Red Crow, a Native-owned cannabis company that designs, builds, manages and finances marijuana growing facilities for medical purposes.

“We are an impoverished tribe with a small casino that is barely keeping its head above water. We don’t have the cash flow like other tribes that have found success,” Mary Belardo, executive assistant to the tribal chairwoman, explained the reason for striking the deal. “The whole concept has potential to be an economic boom for the tribe, if done properly.”

Wed
22
Apr

Many investors still not high on pot stocks

The trend prompted Founders Fund, the San Francisco-based venture capital firm run by PayPal co-founder Peter Thiel, to enter the fray in January. The company agreed to invest millions in Privateer Holdings, a private equity firm in Seattle that's backing several private marijuana start-ups, including Tilray, a Canadian medicinal pot company, and Marley Natural, a weed purveyor launched by heirs of the late reggae star and ganja devotee.

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