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Marijuana Business News

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Fri
22
Apr

Minority cannabis business owners sought for CEO training program

training class minority

A partnership between one of the largest multi-state cannabis companies and Black CannaBusiness Magazine kicking off in Boston this week aims to accelerate the growth of high-potential businesses in the cannabis industry by offering free training to CEOs of color.

The Black CannaBusiness CEO Intensive Program, run by Black CannaBusiness Magazine and New England Treatment Access parent company Parallel, couples a six-week online program with a two-day in-person session to provide chief executives with training and resources related to marketing and sales, risk management, customer experience, finance, products, and executive leadership.

Fri
22
Apr

New Jersey launches recreational marijuana sales following voter approval

girl ballot vote

Well over a year after voters said yes to legal weed, New Jersey is finally about to start getting high on its own supply.

State residents 21 and older can lawfully buy marijuana starting on Thursday, after a decade-long effort by advocates to legalize recreational use and end years of racially unbalanced criminal prosecution.

Dispensaries are expecting big crowds on Thursday, a day after the unofficial marijuana holiday known as 4/20. In Paterson and Bloomfield, dispensaries operated by Green Thumb Industries will open at 6 a.m., Chief Executive Ben Kovler said.

"We see it as the end of Prohibition 2.0," he said.

Fri
22
Apr

Cannabis goes to the metaverse, creating new opportunities and business questions

vr man city

 

 

Following in the footsteps of Californians, Coloradoans, Arizonans, and Bay Staters, denizens of the Metaverse can now step inside a cannabis dispensary and purchase cannabis products.

Two cannabis brands have staked claims to their own Metaverse storefronts, where they will sell products to real life addresses in all 50 US States. Higher Life CBD and Kandy Girl each have acquired a property in the Metaverse (in Cryptovoxels and Decentraland, respectively), where they are accepting customers interested in purchasing both digital items (like NFTs and Metaverse wearables) and real-life cannabis products.

Fri
22
Apr

Mike Tyson was headed for expensive weed conference before airplane attack

 

Al Pacino’s Scarface sagely advised drug dealers never to get high on their own supply. But we wonder if Mike Tyson would actually be in less trouble if he’s toked a little of his own weed line before boarding his flight.

The heavyweight legend reportedly lost his temper with an overexcited (and possibly overserved) fan before takeoff on his flight from San Francisco to Miami on Thursday — and seemingly punched the guy several times, leaving the his head bloodied.

But The Post hears that news of the incident harshed the collective mellow at the Benzinga Cannabis Conference, because “Iron Mike” was supposed to be the main speaker at a $3000-a-ticket reception on Thursday night.

Thu
21
Apr

Will Cresco Labs become a cannabis powerhouse with this deal?

cannabis cash

Does 'the bigger the better' hold true with pot stocks?

Mergers and acquisitions are pretty common in a growing industry. We have seen quite a lot of consolidation in the cannabis industry both in Canada and the U.S. With the boom in the U.S. state cannabis markets, the multi-state operators (MSOs) are expanding aggressively.

Recently, Illinois-based Cresco Labs ( CRLBF -0.72% ) reported outstanding quarterly results, wherein both revenue and earnings before interest, tax, depreciation, and amortization (EBITDA) grew at a double-digit rate. But more exciting was the mega-merger announcement made soon after the earnings.

Thu
21
Apr

Curaleaf expands product offerings with launch of BlueKudu chocolates in Florida

Chocolate

BlueKudu's artisanal infused chocolates will be available at all 45 Curaleaf locations statewide

Curaleaf Holdings, Inc. (CSE: CURA /OTCQX: CURLF) ("Curaleaf" or the "Company"), a leading international provider of consumer products in cannabis, today announced the launch of BlueKudu infused chocolates at all 45 Curaleaf locations in Florida. Acquired by Curaleaf in 2020, BlueKudu was founded in Colorado as one of the state's original and most experienced edible manufacturers known for utilizing culinary experts to create artisanal cannabis products. The expansion marks BlueKudu's first launch outside of Colorado and Curaleaf's entrance into Florida's infused chocolate category.

Thu
21
Apr

New York's marijuana rollout inches along as New Jersey starts sales

New York

 

Regulators' plan for a cannabis market that benefits communities that suffered from criminalization is taking longer to set up

Moke Mokotoff, the 72-year-old behind a Columbia County hemp farm newly licensed to grow marijuana for recreational use this summer, is hurriedly preparing to cultivate for New York's first legal recreational sales next winter, even as dispensaries in neighboring New Jersey prepare to make their first adult-use cannabis sales on Thursday. 

Tue
19
Apr

U.S. purchase helps Bast Fibre Technologies expand hemp-based product offerings

Vancouver

 Bast Fibre Technologies Inc. (BFT), a manufacturer of premium natural fibres located in the Vancouver Island Tech Park, completed its purchase of Lumberton Cellulose LLC in North Carolina from Georgia-Pacific in February and has changed its name to BFT Lumberton.

The acquisition of the state-of-the-art manufacturing facility enables BFT to significantly expand capacity to over 30,000 tonnes per year, while establishing BFT Lumberton as one of the largest fully-integrated natural fibre processing parks in North America.

Tue
19
Apr

Bedmaker becomes the UK’s largest hemp grower

man

Fifth-generation family bedmaker Harrison Spinks has confirmed its expansion into new North Yorkshire farmland to support its growth and sustainability plans, which will increase the company’s hemp production.

The new Ryther-based farmland spans 80 acres and will be used to increase the company’s production of industrial hemp. The increase in hemp production will see the company producing in excess of 1000 tonnes of hemp straw annually, making Harrison Spinks the largest grower of industrial hemp in the UK.

Hemp fibre, a key component of the company’s mattresses, is one of the strongest natural fibres – it is used in Harrison Spinks’ fillings and is known for its fresh and absorbent properties.

Tue
19
Apr

Delta 9 Cannabis Inc. short interest down 25.0% in March

stocks

Delta 9 Cannabis Inc. was the target of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 1,500 shares, a drop of 25.0% from the March 15th total of 2,000 shares. Based on an average trading volume of 24,700 shares, the days-to-cover ratio is presently 0.1 days.

Shares of DLTNF traded down $0.01 during trading hours on Monday, reaching $0.25. 35,300 shares of the stock traded hands, compared to its average volume of 13,241. The company’s 50-day moving average price is $0.23 and its two-hundred day moving average price is $0.26. Delta 9 Cannabis has a 52-week low of $0.20 and a 52-week high of $0.49.

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