Marijuana Business News

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stocks
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Mon
16
May

Love Hemp Group PLC announces update to announcement of 9 May 2022

woman's armpit

Love Hemp Group PLC (AQSE:LIFE)(OTCQB:WRHLF), the brand-led consumer goods company focused on CBD health and wellness solutions, provides a further update at the request of Peterhouse Capital Limited ("Peterhouse").

The announcement released by Love Hemp on 9 May 2022 incorrectly stated that Peterhouse Capital Limited ("Peterhouse") had resigned as the Company's AQSE Corporate Adviser "following the update by the Company that an investor in the February 2022 placing had failed to complete their investment of £1.2 million."

Fri
13
May

Chicago Cannabis Company opens first co-op store in Lincoln Park

couple store owners

Chicago Cannabis Company offers "products for every level of cannabis consumption, from connoisseur to people trying cannabis for the first time," co-owner Nicollette Rodriguez said.

When Nicollette Rodriguez founded Chicago Cannabis Company with co-owner Tom Gliszewski in 2018, she was working as a bilingual high school teacher and started using CBD to help with stress.

“It really improved my quality of life,” Rodriguez said.

“With teaching being a stressful job, CBD helped me sleep better at night and organize my thoughts and planning. It revolutionized my life.”

Fri
13
May

Cannabis rules draw fire

Guam flag

Guam’s recreational cannabis industry could lose to the black market unless the government allows residents to own more than one type of cannabis business, a prospective business owner told lawmakers Thursday morning.

At the very least, businesses should be allowed to grow and also manufacture cannabis products, Mike Mateo said during a public hearing on the rules and regulations for the island’s recreational cannabis industry.

That’s how the cannabis black market operates — by controlling cultivation, manufacturing and sale — and legal cannabis businesses need to do the same to compete on price, Mateo said.

Fri
13
May

Sisters of the Valley compete in the Next Marijuana Millionaire Show

logo

One episode per week, first episode drops on the G4+ free app today.

The very first episode of the Next Marijuana Millionaire airs today on G4+, a new streaming platform developed through a collaboration of the best tech and entertainment minds, an app that can be downloaded easily to an iPhone from the app store for free.  The series, which will be released starting today with one episode per week for ten weeks, is also free to watch and will soon also be available for other devices through the Google Playstore. 

Fri
13
May

Huckleberry Hill Farms on what’s at stake for legacy cannabis growers

farming couple

Huckleberry Hill Farms has planted its legacy on the rich soil of the Emerald Triangle.

The second-generation run farm is owned by John Casali and his partner Rose Moberly. Casali carries on the work of his mother and her longtime growing expertise. Because of his family’s deep roots in this place, Casali centers the community in the Emerald Triangle above all else. The Huckleberry Hill team is one of the first tourism licensees in the Emerald Triangle, offering a unique grow tour experience for people who may want to see cannabis up close. Think, à la Weed Country with overnight glamping and farm animals, including two goats named Willie and Nelson.

Thu
12
May

Weed pop-ups are having a moment right now

woman

 

Marijuana pop-ups are appearing in a variety of states, whether there’s legal marijuana or not. Here’s why.

If you live in a big city or somewhere where there have been revisions of cannabis laws, you’ve likely seen a marijuana pop-up store. These locations come in all shapes and sizes, whether that’s a truck or a stand, all tending towards bright green logos. After two years of the pandemic, marijuana pop-ups are reappearing with a vengeance, finding exciting ways to appeal to new customers.

Wed
11
May

Why is the world's largest cannabis market shooting itself in the foot?

California beach

Taxes in California are among the highest in the United States and that of course includes cannabis-related taxes, which are so exorbitant that they are hobbling what should rightly be the country's - make that the world's largest and potentially successful cannabis market. (Benzinga)

High taxes and onerous regulations are keeping unlicensed cultivators out of the legal market and contributing to illicit sales, which make up whopping three-quarters of all weed sales in California today, according to a new study done by Reason Foundation, Good Farmers Great Neighbors and Precision Advocacy.

Wed
11
May

States that legalized marijuana are bringing in more tax revenue on pot sales than alcohol

cannabis money

A majority of the states that legalized recreational marijuana for recreational use are collecting more tax revenue from pot sales than alcohol sales.

The first two states to legalize pot are profiting the most, Colorado and Washington. Across the country, the total revenue for taxes on weed amounted to nearly $3 billion, according to a report on “sin taxes” by The Institute on Taxation and Economic Policy (ITEP).

So far, 11 states have legalized the sale of recreational marijuana.

The states that have given recreational marijuana legalization the green-light are Colorado, Washington, California, Illinois, Michigan, Massachusetts, Oregon, Arizona, Nevada, Maine and Alaska.

Tue
10
May

How the pandemic became a bonanza for Florida’s medical marijuana industry

woman

Rising anxiety and worsening chronic health conditions led to a surge in demand for cannabis that businesses have capitalized on. But thanks to state law, the industry is dominated by just 22 companies.

The pandemic has triggered a medical marijuana boon in Florida.

Over the past two years, the number of people with medical marijuana cards has more than doubled, hundreds more doctors have become licensed to qualify patients, new dispensaries have opened almost weekly and a wide variety of new products have become available.

With anxiety levels rising and chronic health conditions deepening during the numerous COVID-19 waves, more Floridians are seeking cannabis as a medical treatment and the industry has found a way to get it to them.

Tue
10
May

Small cannabis entrepreneurs say they can't compete against ‘Walmart of weed'’

cannabis shop sign

Many small cannabis entrepreneurs say large companies are jockeying to lock them out of the industry and have funding that gives them more access to lawmakers.

“Small businesses are the backbone of the country,” said Sarah Grant, general manager of The Dispensary in Richmond.

The shop opened last year and sells Delta-8-THC flower and vape cartridges. 

“It’s hard to compete if you’re going against the Walmart of weed,” Grant said. 

Grant said the lack of structure in the recreational cannabis market is stressful for smaller businesses and that her store could never compete with lobbyists from national cannabis corporations. 

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