Marijuana Business News

Synonyms: 
stocks
business
Mon
29
Mar

Virginia lawmakers working with Gov. Northam to legalize marijuana in July

illegal and legal written notes

House Speaker Eileen Filler-Corn said Friday she supports moving marijuana legalization to the summer and is working with lawmakers and the governor on a possible solution.

RICHMOND, Va. (WRIC) — Virginia lawmakers are working with Gov. Ralph Northam (D) to amend the marijuana legalization bill passed in February in an effort to allow simple possession in July instead of 2024.

Virginia House Speaker Eileen Filler-Corn (D-Fairfax) tweeted Friday that she is working with her colleagues in the General Assembly and Northam to move up the timeline to July, a change advocacy groups have pushed for and believe was needed to address racial equity issues with decriminalization.

Fri
26
Mar

These 5 Women Are Powering Up the Cannabis Technology Industry

Are cannabis and technology the great equalizer in women’s representation in the C-suite? It may be too soon to know, but female executives in the Canna-tech space are nonetheless making their mark.

According to a recent white paper by The Arcview Group and National Cannabis Industry Association, only 8 percent of cannabis CEOs are women. Surprisingly (or not), this mirrors the national average of women CEOs in Fortune 500 companies (a milestone reached this year).

Fri
26
Mar

CBD Companies Depend on Hemp Farmers to Follow New USDA Rules

 New hemp production and manufacturing rules from the USDA went into effect this week.

As the industry continues to grow across the country and here in Florida, stakeholders are continuing to press for safety.

 

“So what we’re doing here is packing off our gummies,” Margaret Richardson said, as she gave Spectrum News a tour of Global Widget, a CBD manufacturing company in Tampa. 

Richardson is Global Widget’s chief compliance and legal officer.

The company’s gummies are infused with CBD and made on their own confectionery line.

Fri
26
Mar

A Measure in the U.S. Would Help Cannabis Companies Everywhere

Virtually every business needs access to banking services, including a bank account to put money in, checks and debit cards, and other services that banks offer.

Unfortunately, members of the cannabis industry are often locked out of receiving banking services because of cannabis’ legal status in many countries.

Nowhere is that on greater display than in the United States where state-legal cannabis companies are either prevented from gaining access to banking services in the first place or have their accounts shut down not long after they are opened.

Fri
26
Mar

What Does 2021 Have in Store for the International Cannabis Industry?

One of the only bright spots in 2020 was the emerging cannabis industry. Whereas the ongoing global pandemic has negatively impacted virtually every other industry on earth, the legal international cannabis industry has powered forward.

According to data firm BDSA, spending on the legal cannabis industry is expected to top $20 billion in 2020, up from an estimated $14.8 billion in 2019. To put that number into perspective, the international music organization IFPI estimates that the entire global music industry is worth roughly $20 billion dollars, and unlike the music industry the cannabis industry has plenty of room for growth.

Fri
26
Mar

New Rules Go Into Effect For Michigan Industrial Hemp Growers

Two years ago, the Michigan Department of Agriculture and Rural Development (MDARD) established the state’s first Industrial Hemp Ag Pilot Program so farmers, processors, and colleges and universities could grow, handle, process, and research industrial hemp. The program continued into the 2020 growing season, with 631 growers and 517 processor-handlers registered and/or licensed to grow, process, and market industrial hemp.   The bill, sponsored by Senator Dan Lauwers (R-Brockway Township) set a lot of parameters for hemp growers.

Thu
25
Mar

South Carolina's hemp industry set to grow again this year

Department of Agriculture officials said that 323 farmers have applied for permits to be able to grow hemp in South Carolina.

Last year, 265 farmers grew the crop.

It was first legalized in 2018 and grown by 20 people that year.

Hemp is considered to be one of the biggest trends in the farming world with research firms estimating it to be a $20 billion industry by 2027.

This year's permits will be granted next month.

Thu
25
Mar

Banking still a major hurdle for cannabis industry

While it could take several months or more than a year for marijuana and cannabis businesses to hit the ground running on sales of the product, there’s another challenge facing the industry that will take federal legislation to resolve.

Working with a bank remains one of the challenges for the industry.

Thu
25
Mar

Michigan cannabis sales grow by 160 per cent year over year for month of February

The shortest month of the year proved to be a fruitful one for cannabis sales in the state of Michigan.

New data released from the Michigan Marijuana Regulatory Agency (MRA) shows that cannabis sales topped US$105 million in February, a 160 per cent year-over-year increase.

The MRA tracks sales figures for both medical and adult-use cannabis. Last February, medical cannabis sales outpaced recreational sales, US$25.7 million to US$14.8 million.

This February, however, medical sales totalled more than US$38 million and recreational sales grew to more than US$67 million.

Thu
25
Mar

Illinois city said to be first in the U.S. to use cannabis tax money to offer Black residents reparations

The Chicago suburb of Evanston, Illinois has green lit what many others have said they want — and should — do: make reparations to Black residents for the effects of slavery.

Pages

Subscribe to RSS - Marijuana Business News