Marijuana Business News

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Mon
30
Aug

Pot businesses air complaints to Arkansas lawmakers

marijuana cigarette

Members of Arkansas' medical marijuana industry at a legislative subcommittee meeting last week aired frustrations with the state contractor used to track cannabis products and sales.

The vice chairwoman of the Arkansas Legislative Council's Medical Marijuana Oversight Subcommittee, Sen. Linda Chesterfield, D-Little Rock, raised the issue on Thursday, saying she had heard concerns about the accuracy of data in the Biotrack system and that the company had not been responsive to providers' needs.

The state, through the Arkansas Department of Health, signed a $560,000 contract with Biotrack in 2017, which can be renewed annually through 2024.

Mon
30
Aug

Hemp Fiber Market Projected To Reach $43.75 Billion By 2027

hemp seeds

Hemp fiber is majorly used in the textile and paper & pulp industry, due to its long and robust fibers as compared to cotton. Furthermore, being a renewable source material, its application has been increasing in many diverse industries such as construction, animal bedding, furniture, agriculture, and automobile.

Mon
30
Aug

Largest rose greenhouse in Europe trades production for medicinal cannabis

red rose

The municipality of Garray (Soria) in Spain could boast until recently that it hosted ‚Äúthe largest rose greenhouse in Europe.‚ÄĚ

 
However, the company that owned it, Aleia Roses, went into liquidation, putting more than two hundred workers out of employment.

That was a year ago, but now, a new firm, Ondara, has acquired the entire company. Although at first, the new owners wanted to make roses compatible with other crops, between February and April this year it decided to uproot the rose bushes altogether to focus on ‚Äúthe new project‚ÄĚ: medicinal cannabis.

Mon
30
Aug

3 Cannabis Stocks to Avoid Now

stock chart increase and decrease

 

If the government could just get out of the way of marijuana, it could realize its full potential as a massive growth opportunity. Unfortunately, a tax and regulatory morass on the state level, coupled with its continuing classification as an illegal substance federally, has put roadblocks in front of otherwise good pot stocks.

Other cannabis stocks, however, seem to go out of their way to sabotage themselves and their investors. Canopy Growth (NASDAQ:CGC), Charlotte's Web Holdings (OTC:CWBHF), and Aurora Cannabis (NASDAQ:ACB) should be avoided because of self-inflicted wounds that hold them back.

Oh, Canada

Eric Volkman (Canopy Growth): I feel that Canopy Growth is not only a stock to avoid now, but likely one to keep away from well into the future. 

Fri
27
Aug

Al Harrington Talks Empowering Black Ownership In Cannabis Through Free Music Festival

photo Al Harrington

As the cannabis industry continues to grow in value, many in Black and brown communities can’t help but notice the irony of it all. Millions of people (primarily people of color) are stuck serving out lengthy prison sentences for selling a substance that many are legally profiting from now.  (Photo credit,Voila)

The ongoing issue is what inspired former NBA players Al Harrington and Wilson Chandler to team up with Kanye West’s manager John Monopoly to spearhead an initiative through Harrington’s VILLAGE to scale the growth of Black ownership within the cannabis industry.

Fri
27
Aug

Why The President Of A $1B Weed Company Left His Job To Join A PR Firm

business man at desk

One of the most respected cannabis entrepreneurs and activists, Kris Krane, is joining New York-based KCSA Strategic Communications, to lead its new Chicago office.

According to information procured exclusively ahead of an official announcement, Krane, former president of 4Front Ventures, a cannabis multi-state operator (MSO) once valued at more than $1 billion, will focus on business development and client advisory at KCSA‚Äôs Windy City office. He will also become a recurring participant in the communication firm‚Äôs ‚ÄúThe Green Rush‚ÄĚ podcast.

 

According to Krane, what drove him to KCSA was his six-year experience as a client. ‚ÄúI¬†had¬†the opportunity to see their professionalism and dedication to the cannabis industry firsthand.‚ÄĚ

Fri
27
Aug

Current Trends in Banking for Cannabis-Related Businesses

money roll

Cannabis is still federally illegal and is included on Schedule 1 of the Controlled Substances Act (CSA), along with such other substances as heroin, fentanyl and methamphetamines.1 It is a federal crime to grow, possess or sell cannabis.

Despite being federally illegal, 36 U.S. states and the District of Columbia have legalized the sale and use of cannabis for medical and/or adult use purposes,2 and both direct and indirect cannabis-related businesses (CRBs) are growing at a rapid rate. Revenue from medical and adult use cannabis sales in the US in 2019 is estimated to have reached $10.6B-$13B and is on track to reach nearly $37B in 2024.3

Fri
27
Aug

Report says Foxwoods considering ‚Äėmega-dispensary‚Äô for marijuana as large as 25,000 square feet

warehouse

The Mashantucket Pequot Tribal Nation is considering establishing a cannabis retail business among other possible options, its chairman said Tuesday without offering details.

A trade publication, Leafly, citing anonymous sources in the tribal government,¬†reported¬†that Foxwoods plans to open near the casino a ‚Äúmega-dispensary‚ÄĚ larger than 25,000 square feet as early as next spring.

Thu
26
Aug

Akerna Flash Report: Labor Day weekend expected to bring in over $240 million in national retail cannabis sales

marijuana leaf

Business intelligence from Akerna (Nasdaq:¬†KERN), an enterprise software, leading compliance technology provider, and developer of the cannabis industry's first seed-to-sale enterprise resource planning (ERP) software technology (MJ Platform¬ģ), predicts that the upcoming Labor Day weekend,¬†September 3¬†‚ÄstSeptember 6, will bring in over¬†$240,000,000¬†in legal national cannabis sales.¬†

Friday, September 3, will be the largest sales day of the weekend, with a predicted $90,000,000 in sales, up 62% from daily average sales. This would be the second-highest sales day of 2021, falling after 4/20, the unofficial cannabis consumption holiday.

Thu
26
Aug

The Green Organic Dutchman Completes First International Cannabis Shipment

 

 

 

*Shipment destined for highly anticipated South African medical cannabis

*First flower to be distributed legally in the country at a commercial scale

*Setting the base for large-scale commercialisation into the international market in 2022

TORONTO, Aug. 25, 2021 /PRNewswire/ - The Green Organic Dutchman Holdings Ltd. (the "Company" or "TGOD") (TSX: TGOD) (US-OTC: TGODF), a leading producer of premium certified organically grown cannabis, is pleased to announce it completed its first international commercial shipment consisting of cannabis flower and other extracts destined for the highly anticipated South African medical cannabis market. 

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