Marijuana Business News

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stocks
business
Thu
15
Nov

New Zealand: Iwi industrial hemp production deal could create 150 jobs

A Dannevirke-based iwi plans to go into industrial hemp production in a joint venture which could create more than 150 jobs. After signing a deal with a Chinese processor, the iwi plans include building a processing factory in the Tararua region.

Ngāti Kahungunu ki Tāmaki nui-a-Rua Trust has just announced its partnership with international hemp food production company Jinzhou Qiaopai Biotech.

Trust chairman Hayden Hape said the venture was timely given this week's Government regulatory changes allowing the sale of hemp seed as food in New Zealand.

The iwi and Qiaopai Biotech have entered into an agreement with Massey University to begin hemp planting trials in Manawatu, Tararua and Hawke's Bay this month.

Thu
15
Nov

Here's where marijuana stocks may be headed next year

Canada's marijuana-stocks bubble will pop or at least deflate next year, as soaring valuations hit financial realities, Chris Walsh, founding editor of Marijuana Business Daily, predicted in a pot conference here.

Speaking at MJBizCon at the Las Vegas Convention Center, Walsh told attendees that the "bumps aren't over" in Canada's recreational market, which came to life on Oct. 17. But since then, shortages have persisted, as producers try to widen their capacity to make more weed.

How that market plays out, he said, could offer a taste of what's to come in the U.S., as more states legalize and hopes increase for friendlier tax and banking laws to the cannabis industry stateside.

Thu
15
Nov

Nevada breaks another marijuana sales record

Nevada has broken another record for marijuana sales. The Nevada Department of Taxation reported on Wednesday that in August, the state collected $8.1 million in taxes alone from cannabis sales. That’s $3.2 million more than the same time last year.

August 2018 was the largest month of combined marijuana tax revenue to date in Nevada, the agency said. Marijuana tax collection alone for 2019 is expected to be nearly $70 million.

Thu
15
Nov

Federal government seeks cultivators to grow thousands of kilos of cannabis

Those looking to play a role in the development of medical uses of cannabis in the United States, listen up; Uncle Sam needs you. As reported by Marijuana Moment, a listing posted by the National Institute on Drug Abuse via the Federal Business Opportunities website last week asked for “capability statements” from businesses with the capacity to produce a variety of marijuana strains and products. Prospective firms must also be equipped with storage space for up to 5000 kilograms of cannabis stock.

Thu
15
Nov

Canopy Growth CEO: 'For sure there's a marijuana bubble'

Canopy Growth Corporation saw its shares fall 13% on Wednesday after reporting disappointing earnings that included a revenue decline. Analysts had expected better results from Canopy after Canada launched legal recreational marijuana sales on Oct. 17.

Thu
15
Nov

Oklahoma approves over 12,000 medical marijuana licenses

Less than four months after voters in Oklahoma legalized the use of medical marijuana, more than 12,000 patients have been approved for licenses by state regulators. Nearly 2,000 more licenses have been issued to cannabis businesses, according to a tweet from the Oklahoma Medical Marijuana Authority (OMMA).

Wed
14
Nov

Branding and retail experts arrive to reinvent the cannabis consumer experience

With adult-use cannabis legalization momentum in full swing, the next stage for this newly emerging market has arrived.

Wed
14
Nov

Can artisanal weed compete with ‘Big Marijuana’?

You’ve heard of Big Pharma and Big Tobacco. How about Big Marijuana?

The drug’s growing legalization is raising concerns among small-scale marijuana farmers and retailers that the corporatization of weed may be right around the corner.

Wed
14
Nov

Time to cut the red tape on banks doing business with marijuana?

In 2016, a Republican sweep in races for Congress and the White House signaled the likelihood of changes in arcane banking regulations that elated Wall Street but were as familiar to the denizens of Main Street as the text of the Magna Carta or the 39 signatures on the U.S. Constitution.

The results of last Tuesday's mid-term elections signal a potential shift in a far less esoteric rule: one that effectively prevents banks from opening accounts for marijuana distributors.

"There's growing recognition that the policy that makes it difficult to nearly impossible for state-legal marijuana businesses to have access to banking services is outrageous," said Rep. Earl Bluemenauer, the Oregon Democrat who helped form the Congressional Cannabis Caucus.

Wed
14
Nov

The time has come: Recruiting for the cannabis industry

Not too long ago, the idea was unthinkable, if not ridiculous. The cannabis industry was still way too fragmented and in flux to justify the existence of an executive recruitment firm.

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