Marijuana Business News

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Mon
12
Jul

Cannabis Sales Are Booming In Illinois

In May, cannabis sales in the state hit $116 million, which is $1.5 million higher than in April.

One might wonder if lawmakers in Illinois had any idea just how much recreational cannabis sales would bring into the state’s coffers when, less than two years ago, they decided to legalize it. They probably had some idea, seeing that the state ended the previous fiscal year with more than $317 million in cannabis taxes, according to 23 WIFR.

Mon
12
Jul

Cannabis Clubs in South Africa Remain in Legal Limbo

Like Spain right now, cannabis clubs in South Africa are a hot topic. Not only are they flourishing, despite their uncertain legal status, but advocates are calling for clarity as the country begins to get ready for 2023.

How fast the legality of the clubs will change is uncertain, but this issue is clearly on the agenda of reform activists if not the nascent industry beyond that.

Mon
12
Jul

NJ legal weed deadlines are approaching. What will the next year bring?

The next six weeks will set the tone for the next year of legal weed in New Jersey.

The New Jersey Cannabis Regulatory Commission is set to meet Tuesday, at a time when marijuana is at the forefront of municipal government meetings as local officials try to figure out if and how deep they want to get involved in the cannabis industry. 

Mon
12
Jul

The Need for Accountants in the Cannabis Industry

How fast the cannabis industry is growing is astounding.

It’s managed to thrive through the COVID-19 pandemic, one of the most challenging times in our country’s history.

As a result, business owners are readying themselves for a prosperous future. 

But a flourishing cannabis business is highly dependent on having the right people overseeing different aspects of the company.

Specifically, it’s integral you enlist the support of a financial professional to ensure your company finances are on the right track.

And stay on track as the industry and your company grow. 

Mon
12
Jul

Israel Continues To Be A Key Market For Major Cannabis Companies International Expansion Strategy

Read entire article at Technical420

Last year, Israel overtook Germany as the largest importer of medical cannabis, and this is a market that we are bullish on.

One of the reasons we are excited about the Israeli cannabis market is related to the economics that are associated with the cultivation process. In Israel, the cost per gram of cannabis is considerably lower than Canada. The reason why it costs less to cultivate cannabis in Israel than Canada is related to the climate, and we consider this to be an important aspect of the market.

Fri
09
Jul

Fire Season Is Coming — Here’s What That Means For Canna-Businesses

Cannabis businesses need to remain vigilant and consider whatever regulatory measures can be taken to mitigate losses caused by fires.

Summer’s here, a massive heatwave just hit the west coast, and fire season is right around the corner. This is the harsh reality for west coast residents and it doesn’t look like that’ll change anytime soon. Wildfires have a severe impact on entire communities and everyone can be impacted. But there are some unique issues for cannabis businesses that I’ll get into in this post.

Fri
09
Jul

Illinois weed sales remain strong at near-record $116 million in June

Recreational marijuana sales remain strong in Illinois, with a near-record $115.6 million in sales for June.

The totals, reported Thursday by the Illinois Department of Financial and Professional Regulation, are down slightly from the record $116.4 million worth of recreational cannabis products sold at dispensaries statewide in May. But Illinois remains on a prodigious pace in its second year of legal recreational weed sales.

Fri
09
Jul

Illinois is about to get its first marijuana lounge — and it's not in Chicago or the suburbs

For the first time in Illinois, cannabis smokers will be able to legally light up in public Saturday in a lounge specifically built for that purpose.

There have been discussions in Chicago and elsewhere in the state about opening consumption spaces, but the first will be in the tiny downstate city of Sesser, in a remodeled former bank.

Fri
09
Jul

Cannabis-Growing Gathers Momentum in Zimbabwe

Zimbabwe recently scrapped rules requiring sole state ownership for cannabis farming to encourage investment in the plant for industrial and medicinal uses. Zimbabwe is Africa's largest tobacco producer, but authorities expect hemp export earnings to start replacing tobacco as farmers seek higher earnings from the crop.

Farmer Jesper Kirk has been growing mainly tobacco since he moved to a 250-hectare farm five years ago. He now plans to increase his hectarage of hemp, a type of cannabis plant that has very low levels of THC — the intoxicating substance in marijuana — when the growing season begins in a few months.

Fri
09
Jul

July Is National Hemp Month

Parades, fireworks, and barbecues aside, July is notable for two other commemorative events much newer to the calendar than Independence Day. July is National Hemp Month, and the period from July 17-23 has been designated as Hemp History Week. National Hemp Month is the brainchild of cannabis company cbdMD, initiated on February 4, 2019 to promote the benefits and dispel myths surrounding hemp-based products. Hemp History Week is in its 12th year as an industry-wide, week-long educational campaign about hemp.

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