Marijuana Business News

Wed
22
Sep

Melissa Etheridge on Her California Cannabis Company, 'It's Hard, But We're Hanging in There'

Photo of Melissa Etheridge

While some think celebrities have a leg up on other cannabis brands, singer Melissa Etheridge, who launched Etheridge Botanicals in 2020, says it's not so easy. "We don't sell anymore than anyone else," she tells CelebStoner. "We're still in the dark."

Etheridge primarily blames this on Canadian companies "who starting buying all the American companies" after legalization happened there in 2017. "It's been tough for a boutique brand like ours."

(Melissa Etheridge portrait by Elizabeth Miranda; prerolls image via Etheridge Botanicals)

The company sells flower in jars and prerolls in biodegradable tubes under the headings Morning, Noon and Night for sativa, hybrid and indica respectively. The products are only available at California dispensaries.

Wed
22
Sep

Stem Increases Footprint On West Coast With Acquisition Of Artifact Extracts And Two Cannabis Dispensaries

hand holding cannabis buds

Stem Holdings, Inc., the first multi-state, vertically integrated Farm-to-Home™ (F2H) cultivation and technology omnichannel cannabis company, announced today that it has acquired Artifact Extracts, a premier cannabis extraction company based in Oregon known for its award-winning concentrates, as well as two dispensaries. (As Originally Seen on Benzinga)

The transaction closed on September 17th. Stem issued 8,209,178 shares of common stock at a deemed aggregate value of US$ 2,925,000.

Wed
22
Sep

Las Cruces will pull $150,000 investment out of hemp manufacturing company

marijuana leaf

The Las Cruces city council voted to pay the state back $400,000 that was going to go to a new hemp manufacturing company.

The city planned to invest $150,000 of its own funding in addition to $400,000 that the New Mexico Economic Development Department gave the city for 420 Valley, LLC.

The city's decision to retract the money was due to the fact that 420 valley was unable to meet its hiring goals.

"They we’re going to provide up to 55 jobs at a certain income level by 2023, December 31st," said Las Cruces Mayor Ken Miyagishima. "And then there was also another stipulation that they would have at least 18 jobs by December 31st of 2020 and we don’t believe that they’re going to fulfill that.”

Tue
21
Sep

Hemp Insulation manufacturing Plant to be Built in Jerome

Factory workers

A Wood River Valley based hemp insulation manufacture plans to build a production facility in Jerome County along the interstate beginning this fall. Southern Idaho Economic Development said Hempitecture Inc., based in Sun Valley, intends to build a plant at the Northbridge Junction near the Interstate 84 and U.S. Highway 93 junction; a groundbreaking ceremony is set for early October. This is one of the first major business announcements made since a bill was signed into law earlier this year allowing the production and transportation of industrial hemp in Idaho.

Tue
21
Sep

Amazon urges government to legalize marijuana

Amazon Building

Amazon has further relaxed its marijuana screening policy to strengthen its support for federal law to legalize narcotics.

In a blog post on Tuesday, Amazon HR boss Beth Galetti wrote that he “regained employment status” for former employees and applicants who were dismissed or postponed during random or pre-employment marijuana screening. “Pre-employment marijuana testing has disproportionately affected the color community by stagnating employment and thus economic growth. We believe this unfair treatment is unacceptable.” Mr Galetti said.

Tue
21
Sep

Michigan’s growing hemp industry faces roadblocks

USA map with cannabis and coins

Michigan’s hemp industry could get up to $100 million in federal funds to help it compete globally under a proposal pushed by a nationwide growers association.

The state is one of four with emerging hemp industries targeted by the National Hemp Association, along with Oregon, New York and Florida. The funding would be for developing a “regional super site” in each state to aid in the industry’s growth, said Geoff Whaling, the association’s chair.

Hemp is a cannabis plant with a very low percentage of THC, the psychoactive element of marijuana. Developing the industry could benefit Michigan environmentally and economically, Whaling said. The plant has many uses, but the state’s auto industry is what makes it a target for development.

Tue
21
Sep

Hemp Insulation Factory to be Built in Jerome

factory workers

A Wood River Valley based hemp insulation manufacture plans to build a production facility in Jerome County along the interstate beginning this fall. Southern Idaho Economic Development said Hempitecture Inc., based in Sun Valley, intends to build a plant at the Northbridge Junction near the Interstate 84 and U.S. Highway 93 junction; a groundbreaking ceremony is set for early October. This is one of the first major business announcements made since a bill was signed into law earlier this year allowing the production and transportation of industrial hemp in Idaho.

Tue
21
Sep

Invest in a Massachusetts Cannabis Cultivation Facility

State of Massachusetts

An exciting crowd funding cannabis cultivation project is scheduled to start this week for Grow Space Orange, the Massachusetts company that develops cannabis cultivation facilities that are leased to licensed growers. Grow Space Orange, Inc, is a wholly owned subsidiary of New England Agriculture Technologies, LLC ("NEAgTech") in which investors are able to get in on the ground floor of an asset-based cannabis business with planned above-average returns plus the exciting possibility of being an owner of a prosperous cannabis cultivation operation. Full details of this and other NEAgTech projects including financial forecasts is on the investor section of the GrowSpaceNE.com website.

Tue
21
Sep

Cannabis Practices Sprout as Big Law Firms Follow the Money

Notoriously risk-adverse Big Law firms are building cannabis practice groups as a rising number of states legalize recreational and medicinal use, even though the drug remains largely banned under federal law.

Cannabis practitioners hail from a variety of specialties, reflecting the range of issues that their clients face. The lawyers have to be flexible in the rapidly changing area as voters and lawmakers act to advance—and sometimes fight—legalization.

“This is not for the weak of stomach,” said Eric Berlin, who co-leads Dentons cannabis practice and helped craft and pass the Illinois and Ohio medical cannabis laws. “You have to deal with a level of uncertainty there.”

Tue
21
Sep

New Report Says Medical Cannabis Consumers Spend More

Cannabis data and analytics specialist Headset just released its latest report comparing US medical and recreational cannabis market development, bearing results that reveal sales patterns and unifying trends across the industry.  The report’s findings are grounded in the context of the predominant pattern of a three-step process in cannabis market development, including prohibition, medical access, and adult-use legalization. Though there are exceptions to this evolution where markets leapfrog medical use and go straight from cannabis prohibition to adult-use legalization, flagship states like California, which approved medical use in 1996 but took another twenty years to allow adult-use cannabis, follow a more predictable pattern.

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