Marijuana Business News

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Wed
07
Apr

Only Time Will Tell Us Who Has Made The Better Move In The Cannabis Sector……Big Alcohol or Big Tobacco

Big tobacco has been behind the curve with the legal cannabis industry thus far and seems to be following the footprint of big alcohol. Companies such Constellation Brands, Inc. (STZ) and Molson Coors Beverage Company (TAP) have executed major agreements with Canadian LP’s that are starting to look like brilliant moves. 

Big tobacco’s recent foray into the Canadian cannabis industry shows that a change of tides is occurring at some of the highest levels of big business. 

Tue
06
Apr

Nevada OKs incentives for 9 companies moving or expanding here. Here's how much they got

Nevada’s economic development board approved $4.7 million worth of incentives on Wednesday for nine companies that are either moving or expanding operations in the state.

The Governor’s Office of Economic Development estimates that the companies will create more than 1,300 permanent jobs across the state at an average wage of nearly $30 per hour. The companies range from manufacturing operations to technology companies.

Tax incentives and abatements have been a commonly used tool for the state to attract companies to Nevada, particularly during the Great Recession. Tesla, for example, received more than a billion dollars in incentives to build its Gigafactory facility just east of Reno-Sparks in Storey County.

Tue
06
Apr

CBD, cannabis and hemp: What is the difference among these products?

Massachusetts is one of 15 states to legalize cannabis for recreational use.

While 67% of U.S. adults support marijuana legalization, public knowledge about cannabis is low. A third of Americans think hemp and marijuana are the same thing, according to the National Institutes of Health, and many people still search Google to find out whether cannabidiol – a cannabis derivative known as CBD – will get them high, as marijuana does.

Hemp, cannabis and CBD are all related, but they differ in significant ways. Here’s what you need to know about their legality, effects and potential health benefits

Tue
06
Apr

Cannabis Tourism Takes A Covid Beating

Cannabis tourism is a part of the ever-growing cannabis industry. Many cannabis consumers are looking for ways to enjoy their buds while traveling across the country or internationally. Cannabis tourism allows for travelers to get accommodated in a way that meets their needs, as well as the opportunity to enjoy their marijuana in different, fun ways.

Despite the great benefits of cannabis tourism, many cannabis companies have hit their sales due to low tourism in their respective cities.

Continue reading to learn more about cannabis tourism and how the pandemic has affected cannabis tourism in cities like Las Vegas and Denver.

What is cannabis tourism?

Tue
06
Apr

Does Organic Certification Make a Difference in CBD?

In order to firmly establish itself as a leading farm-to-shelf producer of hemp and CBD products, Green Gorilla has completed the arduous process of having its 1,474-acre farm in Arizona certified Organic under the U.S. Department of Agriculture’s National Organic Program (NOP).

“It kind of puts us in a league of our own because there’s a lot of people who say they’re ‘organic’ but they’re not certified Organic,” CEO and co-founder Steven Saxton says.

Tue
06
Apr

Meet the Next Big Disruptor to the Cannabis Industry

It’s no secret the cannabis industry has enjoyed unprecedented growth these past few years — from a market perspective and a political one.

Consider the political and policy changes we’ve seen in recent months. The House of Representatives recently passed historic legalization legislation (the Marijuana Opportunity, Reinvestment and Expungement Act).

Thirty-six states now have programs for recreational use, medical use or both. With these changes and a new, cannabis-friendly administration, we’re on track to see federal legalization within the next few years and continued leaps forward in this industry.

Mon
05
Apr

Oregon's billion-dollar weed economy faces new challenges

They've never been higher.

Oregon recreational marijuana sales have climbed to record highs, but some say the industry's woes also have reached an apex. The difficulties range from an unfavorable federal tax code to a dangerous crime wave, wildfires, and cities and counties hungry for a larger slice of the tax pie.

"Businesses are still struggling," says Kim Lundin, executive director of the Oregon Cannabis Association. "High sales don't transfer to overall industry success."

But the marijuana milestone — $1.1 billion in sales in 2020, blowing past the $795 million benchmark set in 2019 — has started a battle for cash at the state Capitol regardless.

Mon
05
Apr

Cannabis Crowdgrowing Could Revolutionize the Industry

Thanks to global cannabis reform victories, the legal industry is spreading to virtually every corner of the planet through new concepts like crowdgrowing. Cannabis may still be prohibited in various countries, however, momentum for reform is greater than ever and the future of the cannabis industry is extremely bright.

No other industry is as exciting as cannabis right now, and with legalization still in its infancy by most measures, the potential for profit is astronomical.

Mon
05
Apr

How Mexico's weed legalization could de-escalate the entire drug war

Mexico’s lower house of Congress in March handily approved a bill to legalize the recreational use of cannabis. The bill is now with the Senate, where it is likely to pass, as Mexican senators have previously voted to legalize cannabis.

Mon
05
Apr

Recreational marijuana sales in Illinois smash record in March — $109 million

Illinois set a record with $109 million in sales of recreational marijuana in March — a huge 35% increase from the previous month.

Better weather no doubt played a significant role in the increase over February. But the sales reflect an escalation of the almost constant growth in sales since cannabis was legalized in the state in January 2020.

“March was set up to be a growth spurt with a longer month ... new retail stores opening across the state, and stimulus checks hitting people’s bank accounts,” Chicago-based cannabis company Cresco Labs spokesman Jason Erkes said. “The warmer weather also contributed to a very successful month of sales.”

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