Month: January 2021

New Mexico judge rejects changes to state’s medical marijuana rules

A New Mexico state district court judge ruled invalid changes to the state’s medical marijuana regulations in 2020 that would have made significant alterations to the program. The amendments to the rules included a requirement that marijuana growers modify licenses when physical changes are made to facilities as well as increased cannabis testing requirements for […]

Fresno, California, creates social equity fund for marijuana entrepreneurs

The Fresno City Council voted to establish an equity fund that would help financially assist disadvantaged marijuana business owners, the latest city among California municipalities that are trying to give a leg up in the industry to those hit hardest by the war on drugs. The fund will disperse monies to qualified candidates, and two […]

Senate leader Schumer pushing federal marijuana legalization as priority

U.S. Senate Majority Leader Chuck Schumer said he’s putting together a new federal marijuana legalization bill that would allow states freedom to “do whatever they’d like” and put tax revenues into minority communities most harmed by prohibition. A New York Democrat who filed a marijuana descheduling bill in 2018, Schumer said his latest effort draws […]

Cannabis contributes $2 billion annually to Washington state economy

The legal cannabis industry has grown at a “staggering rate” in Washington and now contributes roughly $2 billion a year to the Pacific Northwest state’s economy, according to a new report from Washington State University. The report, titled “2020 Contributions of the Washington Cannabis Sector,” found that in 2020 the industry was responsible for $1.85 […]

Arizona’s new recreational cannabis firms see strong sales, possible supply issues on horizon

Vertically integrated cannabis companies in Arizona’s fledgling recreational market are reporting long customer lines and robust sales after a lightning-quick market launch less than three months after voters approved adult-use legalization. Dispensary operators, which were given first crack at recreational licenses, report that initial adult-use sales were two to three times the value of their […]

Valens files prospectus to issue up to CA$150 million in securities

Valens Co. has filed a base shelf prospectus with securities regulators in Canada that would enable the cannabis derivative manufacturer to raise up to 150 million Canadian dollars ($117 million) in aggregate over the next 25 months. That is up from the CA$100 million preliminary short form base shelf prospectus filed late last week. The […]

San Diego County starts work on marijuana social equity program

One of the few remaining major metro California markets that doesn’t have a marijuana social equity program began down that path when the San Diego County Board of Supervisors voted 4-1 to begin crafting such a law. According to San Diego TV station KUSI, county officials gave the green light to multiple ordinances that will […]

Michigan cannabis operator nets $50 million from small investor offering

Gage Growth, a Michigan-based cannabis operation, said it raised the maximum $50 million allowed through a Regulation A, small-investor offering. Regulation A offerings are a way for a company to build a base of loyal investors in advance of a potential initial public stock offering with less-stringent regulatory requirements. Such offerings were especially being eyed […]

Aurora Cannabis inks deal to supply Australia market

Canada’s Aurora Cannabis has signed a five-year supply agreement with MedReleaf Australia, the Alberta-based company announced this week. The deal makes MedReleaf Australia the exclusive supplier of the Canadian producer’s MedReleaf, CanniMed and Aurora brands. The cannabis will be cultivated at Aurora’s EU-GMP facility in Canada, Michelle Lefler, VP of communications, told Marijuana Business Daily […]