Marijuana Business News

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Mon
10
Feb

Maine’s First Recreational Cannabis Businesses Could Open This Spring

Maine officials have deemed dozens of applications to run marijuana businesses to be complete, a major step on the way to the first legal sales of the drug for recreational adult use.

Mainers voted in favor of legal recreational marijuana use and sales in 2016, and the state is in the process of approving licenses for the first businesses. The state began the process of deeming more than 70 applications complete in late January, said David Heidrich, spokesman for the Maine Office of Marijuana Policy.

Mon
10
Feb

Buyer beware: ‘Weed washing’ companies said to deliver little to no CBD despite packaging

The CBD industry has a dirty little secret that may leave customers feeling let down by their latest cannabis-infused purchase.

The practice, known as weed-washing, occurs when companies add hemp oil that contains little or no CBD to their products in an attempt to financially benefit from the enormous popularity of the compound found in cannabis.

The new trend appears most common in the beauty industry, according to U.S.-based publication, The Fresh Toast, and risks alienating consumers who do not experience the CBD benefits they were promised.

Mon
10
Feb

Zimbabwe harvests first marijuana crop

ZIMBABWE has begun harvesting its first crop of legally cultivated industrial hemp after it decriminalised cannabis in 2018 to tap into the multi-billion-dollar industry.

Last year, the Zimbabwe Industrial Hemp Trust (ZIHT) planted five varieties of European industrial cannabis on a 10-hectare plot at Harare Central Prison.

Preliminary results show that of the five varieties planted, only two performed well, with poor rains and high temperatures being blamed.

The results also showed that the crops grew and budded quicker than anticipated.

ZIHT founder Dr Zorodzai Maroveke said they are now testing the varieties around the country.

Mon
10
Feb

Medical Consumers In Illinois Push For Priority Status

Complaints from patients across the state prompted an advisory from the Illinois Department of Financial Professional Regulation for dispensary operations across the state on Friday. The complaint was directed at possible shortages of patients’ normal medical purchases, due to recreational sales.
 
Fri
07
Feb

Vermont: Measure Permitting Retail Marijuana Sales Moves Forward

Senate-backed legislation to regulate retail sales of marijuana to adults continues to advance in Vermont.

Members of the House Ways and Means Committee voted 7 to 3 this week in favor of the bill, S. 54. The proposal now awaits consideration from the House Appropriations Committee. If approved, it will go before the full House for a vote.

Senate lawmakers have already approved a version of the bill by a veto-proof supermajority.

Fri
07
Feb

Producers talk fast-growing hemp industry

Farmers, educators, city leaders and academics came together this week to learn about growing hemp in Kansas.

This first annual Kansas State Industrial Hemp Conference was held Feb. 4 at the Kansas State Research and Extension Center in Wichita.

Researchers from K-State spoke about the difficulty of growing hemp. Cary Rivard, a K-State researcher based at the Olathe Horticulture Center, spoke to the crowd of more than 225 people about the test results of growing 400 hemp plants on 0.45 acres at his center.

“This is one of the fastest-growing plants I’ve ever seen,” Rivard said.

Fri
07
Feb

Three Reasons To Adopt AI Automation Technology In Your Grow Operation

The beauty of cannabis cultivation is in its complexity. Small adjustments to the growing environment can mean big payoffs come harvest time. It's a space for calculated creativity in order to get ideal yields under specific growing conditions.

Yet, tweaking the process until perfect means a lot of record-keeping, mathematical calculations, and analysis. All of these meticulous details are close to impossible to analyze without the introduction of automation and Artificial Intelligence (AI) technology into the grow room.

Fri
07
Feb

Portugal’s Industrial Hemp Farmers Feel the Burn of New Regulation

Portugal is quickly becoming a powerhouse in the medicinal cannabis field, but as regulations have changed to promote medical cannabis, major damage has been caused to Portugal’s industrial hemp farmers.

In some ways, Portugal greatly stands out from other European countries when it comes to the regulation of illicit – and, well, all – substances, including cannabis. While nothing was technically made legal under Portuguese law, a 2001 law decriminalized “consumption, acquisition and possession of drugs for personal consumption.”

Fri
07
Feb

Aurora Cannabis CEO Terry Booth to step down as company takes writedowns of up to $1 billion

Licensed producer Aurora Cannabis Inc. announced that it’s long-serving chief executive Terry Booth will be stepping down from his position, to be replaced temporarily by current executive chair, Michael Singer. Booth will remain on the company’s board and serve as strategic advisor to Aurora.

A search for a permanent CEO is ongoing, the company said.

The announcement came just days before Aurora is due to report quarterly earnings. The pot producer’s stock was halted at approximately 1.30pm EST after rumours of Booth’s departure began circulating on social media.

Thu
06
Feb

These 3 Pot Stocks Were Rocked in January, but Now They're Bargains

If you were a marijuana stock investor in 2019, chances are you couldn't wait for the year to end. Despite galloping to incredible gains during the first quarter, pot stocks spent the remaining nine months of the year in a precipitous downtrend. When the curtain closed on 2019, most cannabis stock were at or near their yearly, or multiyear, lows.

The good news is that 2020 began a little better for cannabis stocks. Through January, the Horizons Marijuana Life Sciences ETF, a basket fund with four dozen holdings of various weightings, fell just $0.01. That's improvement, considering how badly marijuana stocks had been pummeled of late.

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