Marijuana Business News

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Fri
18
Sep

Will These Pot Stocks Start To Pick Up Momentum?

2 Top Marijuana Stocks To Watch For 2020

Fri
18
Sep

Michigan Medical Marijuana Market Could Reach $3 Billion in Sales

While indications of the rapid growth in both medical and recreational cannabis markets continue to expand to all parts of the country, one of the most eye-catching places to watch is Michigan.

Voters there approved a measure in 2018 to make recreational marijuana legal in the state. Ten years earlier, voters approved legalizing medical marijuana. Michigan stands out as one of the leaders in the cannabis industry in the Midwest.

Fri
18
Sep

Maine hemp producers caught between different state, federal rules

The USDA signed off on an extension of Maine’s fledgling hemp program beyond late October, but state agriculture specialists are at a loss as to how the sector can move forward.

Hemp producers across Maine must adhere to new federal guidelines, which state horticulturalist Gary Fish stresses are written differently from current state rules. Fish said that could be problematic for those who harvest after Oct. 31, the original sunset date for the industry.

Under one new federal rule, a hemp strain’s THC level could determine whether it remains legal.

Fish said everyone in the business will be in for quite a learning experience.

Fri
18
Sep

Vermont Legislative Panel Agrees On Cannabis Retail Sales Bill

Vermont legislative committee came to an agreement this week on a compromise bill that would legalize the commercial production and retail sales of cannabis in the state. The compromise reached by members of both the Vermont House of Representatives and the state Senate also establishes a framework for levying and collecting taxes on cannabis sales.

Fri
18
Sep

How did a CBD testing lab get into the hand sanitizer testing business?

The Food and Drug Administration (FDA) now maintains a lengthy and growing list of hand sanitizer brands that consumers should avoid, having confirmed they contain as much as 81% methanol and other impurities including potentially deadly 1-propanol. "While hand sanitizers and associated claims are regulated by the FDA, the agency now has a waiver program due to the unprecedented time of COVID-19 which doesn't require manufacturers to substantiate label claims. This was in an effort to allow hand sanitizers to get on shelves quickly, under the assumption manufacturers would continue good manufacturing practices," explains Mike Sandoval, President of Santé Laboratories, a bio-hemp pharmaceutical contract research organization (CRO).

Thu
17
Sep

Columbia Care to Acquire California's Project Cannabis in $69 Million Deal

New York-based cannabis firm Columbia Care has agreed to purchase California’s Project Cannabis in a deal valued at $69 million.

In a news release, the multistate operator said it would trade as much as $57 million worth of stock and pay at least $12 million in cash to acquire the Los Angeles-based vertically integrated cannabis company.

Thu
17
Sep

Hemp industry urges Gov. Cuomo to release regulations

It’s been over nine months since Gov. Andrew Cuomo signed the Hemp Extract bill into law and businesses are wondering where the regulations are.

Those with Beak & Skiff in Lafayette, along with reps from the New York Cannabis Growers and Processors Association, held a news conference on Tuesday afternoon.

Businesses have not only invested in equipment but workers have as well. They are all looking on the state to see where to go from here.

“So we can have a framework to operate our businesses effectively, safe and continue to produce the crops and produce the products that our customers and people throughout New York have come to love,” said Eddie Brennan, president at Beak & Skiff.

Thu
17
Sep

For The Cannabis Industry, Innovation Matters Now More Than Ever

Though it’s not yet clear how the U.S. economic recovery will take shape, it is a certainty that the businesses that continue to innovate in these lean times will be best positioned to succeed as business normalcy, or something like it, slowly returns. In the cannabis industry, innovation takes on an even greater importance for the financial success of individual businesses and for the expansion of the industry.

“Not only is the cannabis industry still a relatively new one, but we’ve barely begun to understand all of the possibilities for what the plant’s cannabinoids and other components such as terpenes and flavonoids can do,” said Nancy Whiteman, CEO, Wana Brands. “As more consumers turn to cannabis for help with wellness needs, the industry has to innovate.”

Thu
17
Sep

Successful Cannabis Exports Will Largely Depend On Maintaining Quality

The legal cannabis industry is going global.

Dozens of countries now allow legal medical cannabis sales in some form, and more are looking to do the same for adult-use cannabis.

Currently, only Canada and Uruguay have legalized cannabis for adult use, however, that will likely change sooner rather than later.

Thu
17
Sep

Colorado marijuana sales blow past $200 million in July

Colorado cannabis sales set a record yet again in July, eclipsing $200 million in a single month for the first time.

Dispensaries sold $183,106,003 in recreational marijuana and $43,268,565 in medical marijuana in July, for a combined $226,374,568 in revenue, according to data from the Colorado Department of Revenue. That’s up 13.8% from June, another record-setting month when the industry raked in nearly $199 million.

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