Marijuana Business News

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Mon
09
May

Michigan regulators say no to THC from hemp

hemp

Regulators in Michigan have nixed a proposal to allow the conversion of cannabinoids derived from hemp into THC.

Regulators in Michigan announced on Friday that a plan to allow cannabinoids derived from hemp to be processed into THC would be withdrawn from consideration. The announcement came only two days after the Michigan Marijuana Regulatory Agency (MRA) was renamed and given new authority over the state’s hemp industry under an executive order issued by Governor Gretchen Witmer earlier this year.

Fri
06
May

The latest pro sports team in Colorado is sponsored by a cannabis brand

sports jersey

“We’re incredibly proud to be the first cannabis company to sponsor Colorado’s first professional ultimate disc team and hope this will drive a movement toward the acceptance of cannabis in professional sports.”

Colorado’s first professional ultimate disc team has announced its newest sponsor.

Local dispensary Star Buds will have its logo featured on the team’s jersey, a move that the company hopes will fuel the further acceptance of cannabis in professional sports.

Owned by parent company Schwazze, Star Buds has been operating in Colorado since 2013.

Fri
06
May

Copperstate Farms introduces new cannabis brand Jukebox

jukebox

Jukebox will replace the Copperstate cartridge line and expand the product suite to include cartridges, pre-rolls, edibles and pre-packed flower.

Thu
05
May

Moodedibles is bringing hemp-based bites directly to your neighborhood

woman eating edibles

If you’re looking for more than a sugar rush from a baked good, Holly Teegarden’s business might be your new favorite sweet spot.

She runs Moodedibles, an online bakery specializing in hemp-derived edibles that will soon be popping up around Pittsburgh.

Inside a small commissary kitchen in Sewickley, the treats are made with CBD, Delta-8 THC and other minor cannabinoids that reportedly offer therapeutic, non-intoxicating benefits.

By June, her food trailer will be showing up around town, dispensing information along with goodies. It is already booked for the second and fourth Saturdays at the Terminal in the Strip District.

Teegarden says she’s not in the business of getting people messed up.

Thu
05
May

Legal cannabis sales exceed Starbucks N. America sales in 2021

Starbucks coffee

Legal adult use and medical cannabis sales in 2021 topped $24.5 billion, which outpaced the North American sales total of $20.5 billion for Starbucks Corp. SBUX, -1.38%, according to the MJBiz Factbook released Wednesday.

Revenue growth of 30% in the cannabis business also outpaced the 25% growth by Starbucks, the study said. Cannabis sales managed the total with legal business in 39 states and the District of Columbia, compared to sales in all 50 states for Starbucks. By contrast 2021 U.S. cigarettes sales totaled $52.8 billion and global opioid sales amounted to $23.2 billion in 2021. The AdvisorShares Pure US Cannabis ETF MSOS, -1.35% is down 2.5% on Wednesday and has lost 43.4% so far in 2022, compared to a 20.6% drop by the Nasdaq COMP, -1.43%.

Thu
05
May

Cannabis industry stakeholders urged to address social and environmental challenges

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New Frontier Data highlights the importance of ESG principles as global economy takes shape

New Frontier Data, the premier data, analytics and technology firm specializing in the global cannabis industry, in its latest report, highlights the imperative for leaders in the emerging global cannabis industry to adopt a robust Environmental, Social & Governance (ESG) framework. The report will be released at Regenerative Cannabis Live: Sustainable Development for and by the Cannabis & Hemp Industry, a one-day event hosted by Regennabis at the United Nations in New York City on May 5, 2022.

Thu
05
May

What’s the best place to buy CBD flower?

woman with cannabis

Now, Oregon is perhaps most notably known for its artisanal craft cannabis and CBD offerings.

A state with a long history of relaxed cannabis laws, Oregon is where many of the most important political and social events in American hemp history have occurred. Interestingly, Oregon has decriminalized cannabis twice, first in the late 1970s, then in 1998. Moreover, in 2008, Oregon was the second state to enact a Medical Marijuana Program.

Oregon’s fertile farmlands, pristine water sources, ideal climate, and deep-rooted counterculture, propelled it to its preeminent position both figuratively and geographically atop Northern California’s Emerald Triangle.

Thu
05
May

Malawi joins Zimbabwe in switching from cultivating tobacco to cannabis

Malawi flag

Malawi has just followed Zimbabwe in reaffirming an intended agricultural switch from tobacco to cannabis. Both countries are doing so for economic survival as the long-term viability of tobacco is giving way to another crop entirely.

Tue
03
May

Medical marijuana industry booming in Florida in last two years

money

As in other states that have legalized medical marijuana, Florida has seen a huge increase in doctors, users and dispensary businesses in the last few years, thanks in part to the COVID-10 pandemic.

“Cannabis is one of the few industries in the world that grew during the pandemic,” Javier Hasse, of Benzinga, which tracks business trends, told the South Florida Sun Sentinel last week.

“Home deliveries and the fact that it was declared essential in the U.S. really helped, but deep down people were looking for something to deal with stress,” he said.

Tue
03
May

CBD of Denver expands into Europe's largest cannabis market

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CBD of Denver, Inc. (OTC Pink: CBDD), a distributor of CBD and unique CBD products sold in Switzerland and throughout Europe, is pleased to announce its expansion into the German medical cannabis market with the hiring of Bijan Hezarkhani to lead CBD of Denver's growth in this fast growing European market. Bijan has extensive experience in the cannabis industry, including building out a medical cannabis franchise in Germany. He was the business development manager for Khiron Life Sciences for the last three years, visiting doctors and pharmacies in Germany to build Khiron's medical cannabis business. Previously, he spent time at Canopy Growth as a business analyst covering Europe.

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