Marijuana Business News

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business
Mon
12
Nov

The complicated relationship between IP law & cannabis

The relatively new industry revolving around the legal growth, distribution, and commercial sale of cannabis represents a golden (or, should I say, green) opportunity for emerging entrepreneurs.

According to leading cannabis researchers, the next decade will see spending on legal cannabis worldwide escalate to $57 billion by 2027. Within this figure, the recreational market will constitute 67% of the spending while the medical market will fill in the remaining 33%. The majority of the industry will take place, on both the buying and selling side, in North America.

Mon
12
Nov

Cannabis companies to reveal earnings less than a month after Canadian legalization

Four major Canada-based weed producers are set to report earnings next week, the biggest financial test for the companies since Canada legalized adult recreational use of cannabis on Oct. 17.

Mon
12
Nov

Colorado cannabis companies cash in as legalization expands

The legalization trend continued on Tuesday. Michigan legalized recreational marijuana, with Utah and Missouri legalizing medical marijuana. As states start cashing in on cannabis, Colorado companies are trying to capitalize.

“In Oregon, and Nevada, and Arizona, and we’re launching in Michigan and Illinois and Florida in the next month or two,” said Wana Brands CEO Nancy Whiteman. “We’ll be in probably five or six additional states next year.”

New legalized markets mean new opportunities for established companies like Wana Brands. Whiteman says they’ve set up a licensing agreement to sell their products already in Michigan, and have plans to build facilities in other states as well.

Mon
12
Nov

CBD-infused beverages could hit shelves sooner than you think

New Age Beverages recently announced it intends to launch a line of CBD-infused waters, teas and other drinks in the United States.

The company already makes Bob Marley-branded organic coffees and teas and Coco Libre coconut water and kombucha drinks. Investors couldn't be more pleased with the expansionplan: New Age's stock, which has been extremely volatile this year, is up nearly 125% in 2018. CEO Brent Willis told CNN Business the company is already in conversations with many retailers about selling its potential line of CBD drinks. But the plan depends on Congress passing the Farm Bill, which would make it legal to produce hemp and potentially open the door for more products containing cannabidiol, or CBD.

Mon
12
Nov

$25 billion cannabis market complicated by lack of federal legality

New Frontier Data, the authority in data, analytics and business intelligence on the global cannabis industry, in partnership with CohnReznick, one of the largest accounting, tax and advisory firms in the United States, releases its latest report, The Cannabis Accounting & Financial Management Report: 2018-2019 Best Practices. The report examines the rapidly evolving financial dynamics of the booming cannabis industry, including surging investments, consolidation, tax implications, under-banking, real estate and more, presenting the case for and defining accounting best practices for the cannabis industry.

Mon
12
Nov

Cannabis CEO: The marijuana industry will 'gladly pay their taxes'

On Tuesday, voters legalized recreational marijuana in Michigan and medical pot in two more states, imposing relatively low taxes of 4% on retail sales in Missouri and an additional 10% excise tax on Michigan’s 6% sales tax.

Aside from contending with state tax laws, cannabis companies must also pay federal taxes even though technically their business is illegal. Marijuana companies will owe $2.8 billion in taxes to the federal government this year, according to one estimate.

Fri
09
Nov

As cannabis patent filings increase, are food and beverage companies positioned to benefit?

Early protection of intellectual property rights is a critical component in any business’ efforts to secure a competitive advantage in the marketplace. A recent report has found that patenting activity for cannabis food and drink has seen a large increase in global activity, in the last five years. 242 simple patent families have been filed in 2015, up from only 144 simple patent families filed in 2012. However, not a single food and beverage company was found to be among the top 10 applicants.

Is this a sign that food and beverage companies are not well positioned to benefit from ongoing cannabis legalisation?

Fri
09
Nov

Inside one of Australia's first legal cannabis farms

Australia's first cannabis farms are expected to be providing medical marijuana by next year. Medifarm, located in the Sunshine Coast, opened its doors to reporters recently to show the healthy plants in their facility.

“I know what this plant can do, my neighbour was cured,” Medifarm master grower Steffen Kraushaar said. “So I dedicated my career to use cannabis under legal circumstances and it is really exciting now.”


Master grower Steffen Kraushaar in the greenhouse at MediFarm

Fri
09
Nov

Marijuana spreading across the beauty industry

Allergy sufferer Autumn Williams was impressed after trying a new vegan mascara on her sensitive eyes.

"It's separating my eyelashes really well, " said Williams. " They already look twice as thick as they did before."

Williams had no idea that the mascara is infused with Cannabidiol Oil also known as "CBD," as extract used in various forms of medical marijuana. 

"I've never even heard of that. I've never even heard of vegan mascara," said Williams. 

Fri
09
Nov

4 jobs beyond budtenders and growers in the marijuana industry

Want to work in the marijuana industry now that recreational weed is legal in Michigan?  Beyond budtenders and growers, the industry needs a wide range of workers in order to function, said Karson Humiston, the founder and CEO of Vangst, a career site for cannabis jobs. 

“If you’re a huge cultivation company employing 100 growers, you also need HR. You also need marketing, IT, security,” she said. “It’s a business like any other." 

If Michigan is anything like Colorado or Washington, Huminston said, the marijuana industry could create around 30,000 new jobs in the next few years.  

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