Marijuana Business News

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business
Tue
17
Sep

Top Israeli marijuana Firm to be bought out as owner faces legal battle

Medical marijuana company Cannabit is slated to buy out competitor Tikun Olam, after the two firms signed principles of agreement, which were revealed on Monday. Cannabit saw its valuation jump 13%, to 271 million shekels ($76.4 million), on the news.

Tikun Olam, in comparison, is one of Israel’s biggest, most respected medical marijuana companies, with some 15,000 customers and a well-regarded product. Patients view Tikun Olam’s cannabis strains as particularly high quality, according to interviews.

Tue
17
Sep

3 overhyped cannabis stocks to avoid today

Everyone was expecting that the legalization of adult-use marijuana would create a “supernova” on the stock market. There was a stellar explosion but only in the valuations of the cannabis companies.

Tue
17
Sep

Digital marketing 101 for the cannabis industry

There is a common misconception that cannabis brands and dispensaries are unable to market their businesses using modern day digital advertising tools.

While it is true that the major players in online advertising (e.g. Google and Facebook) have severe restrictions or outright bans on advertising cannabis and/or hemp products via their advertising platforms, there are digital advertising solutions (such as Surfside) which cater specifically to the cannabis and hemp industries that can be equally or more effective in helping a company acquire and retain customers. 

The best of these solutions make use of the same cutting-edge tools that mainstream digital marketing providers offer, including data modeling, intelligent targeting, and programmatic advertising.

Tue
17
Sep

Hemp Licenses quadrupled from 2018 to 2019, so will there be a CBD surplus?

In the first year since hemp has been legal for commercial cultivation on the federal level, people across the United States are jumping at the opportunity to try their hand growing the legendary plant.

According to new numbers from the hemp advocacy group Vote Hemp, this year, 16,877 farmers received a license from their state to grow hemp (defined as cannabis with less than 0.3% THC) — for a total of over 500,000 acres of hemp licensed for cultivation in 2019.

Tue
17
Sep

UK company set to be largest cannabis company on London stock market

A UK company is planning to list a £100m float on the stock market – poising it be the biggest cannabis company on the London Stock Exchange.

Cannaray, a British medical cannabis company, closed last Monday with a £7.8m (~€8.8m) Series A Funding round and hopes to raise more than £30m in the coming year in the hope of floating the £100m value.

Tue
17
Sep

What you should know about regulations for CBD product labeling

Looking through an assortment of cannabidiol (CBD) products, you might notice certain parts of the label that jump out at you, such as a lively green hemp leaf or the word “organic,” enticing you to give this intriguing product a try. A closer look at that label, however, might raise potential red flags about the quality or accuracy of that CBD product.

In other words, it's important for consumers to understand how product labeling is regulated when it comes to CBD oil and CBD-infused products

Tue
17
Sep

OxyContin maker Purdue Pharma files for bankruptcy as part of opioids settlement

Purdue Pharma, the company that made billions selling the prescription painkiller OxyContin, filed for bankruptcy in White Plains, New York, days after reaching a tentative settlement with many of the state and local governments suing it over the toll of opioids.
Tue
17
Sep

Ontario’s cannabis business posts $42-million loss in last fiscal year

Ontario said its government-owned cannabis business lost $42 million in the last fiscal year, while the province collected barely half the amount of excise taxes it estimated it would generate, in the latest symptoms of a shaky start to legalizing recreational pot in Canada’s most populous province.

The Ontario Cannabis Retail Corporation, a crown corporation that operates the Ontario Cannabis Store’s online retail business and sells wholesale cannabis to the province's private retail stores, generated $64 million in the fiscal 2018-2019 year, according to public accounts released on Friday.

Mon
16
Sep

Is Hemp a safer way to invest in the cannabis industry?

Profits have been elusive for many companies in the cannabis industry. With federal law making it impossible for companies to expand their operations across the U.S without either acquiring a company in another state or setting up an entirely new operation, it's been very difficult for costs to stay at manageable levels. The one workaround, however, has been for companies like Charlotte's Web (OTC:CWBHF) that have chosen a different route: hemp.

Sun
15
Sep

'Wild West': Marketing of cannabis in places where it's outlawed is an emerging 'gray area'

The ad proclaims “Life is Better With Legal Cannabis.” But for most of the readers who saw it in their morning paper, marijuana is not legal.

The ad from Canna Provisions gives the address, website and phone number of its store in Lee, Massachusetts. It ran on the bottom of the front page of the Aug. 30 Times-Union of Albany, New York. The paper is available on Berkshire County newsstand but decidedly not a Massachusetts publication.

The ad includes tiny, baseball box score-size type listing state-mandated disclaimers, concluding with, “This product may be illegal outside of MA.”

New York recently downgraded marijuana possession in small amounts from a misdemeanor to a violation, but it is still an arrestable offense punishable by fines.

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