Marijuana Business News

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Wed
12
Aug

Vancouver marijuana storefronts blamed for licensed producers falling short of expectations

Canada’s legal medicinal-marijuana suppliers are struggling, and part of the reason why is Vancouver’s illegal cannabis storefronts.

“There is no question it has been a challenge,” Tilray CEO Greg Engel said in a telephone interview. “The proliferation of illegal dispensaries has had a significant impact.”

Wed
12
Aug

Maryland native dubbed 'marijuana mogul' in Colorado

e first time Brian Rogers took a bong hit at a party with his Havre de Grace High School friends, he said marijuana had no effect on him.

Now Rogers co-owns a multimillion-dollar marijuana company in Colorado at the center of the CNN docu-series, "High Profits," and he's no longer ambivalent.

"It's changed my life," the 34-year-old Harford County native said.

While recreational marijuana is illegal in 46 states — including Maryland — Colorado has been at the forefront of the legalization movement. And Rogers has been at the forefront of capitalizing on it.

Wed
12
Aug

California Farmers Shine Sunlight on Marijuana Crops

Amidst agricultural fields of tomatoes, sunflowers, and alfalfa, a small Woodland farm is openly growing hundreds of cannabis plants. This legal medicinal marijuana grow belongs to Yolo Organic Botanicals, and they are setting a precedent for cannabis growers in the state. Most of California’s largest crop is grown clandestinely to avoid Law Enforcement.  By growing in the open, with strict adherence to legal statutes and requirements, and promoting their organic and sustainable practices to the community, Yolo Organic Botanicals hopes to turn Yolo County into the Napa of Weed.
Wed
12
Aug

Winnipeg medical marijuana owner reopens shop but won't be selling pot

A week after being raided by police, the owner of Your Medical Cannabis Headquarters has re-opened his doors.

Police raided Glenn Price's medical cannabis dispensary last week and charged him with several drug related offences.

Price, 54, says he re-opened his store Tuesday to continue to educate people about medical marijuana.

Price says he won't be selling marijuana, but people can smoke in the building, which he says isn't against his bail conditions.

He says as long as he's isn't smoking it and doesn't have it on his person, he's fine.

Price is scheduled to appear in court on August 20th.

Wed
12
Aug

Kush Bottles Named to Inc. 5000 Fastest Growing Private Companies in America

LOS ANGELES, Aug. 12, 2015 /PRNewswire/ -- Kush Bottles (www.kushbottles.com), North America's premier supplier of customizable child-resistant packaging solutions and accessories for the legal cannabis industry, announced today that the company was named to the Inc. 5000 list of Fastest Growing Companies in America.

Kush Bottles was ranked #774, which is in the top 20% of all companies on the list.  

In being named to the 34th annual Inc. 5000 list, Kush Bottles joins an elite group of companies over the years, including Microsoft, GoPro,Yelp, Domino's Pizza, Zillow, Timberland, Vizio, Intuit, Chobani, Oracle, and Zappos.

Wed
12
Aug

Want to sell medical marijuana in New York? It could cost you $30 million

In business, you have to spend money to make money. In the New York medical marijuana industry, you may just be spending money.

Medical marijuana was legalized in New York in July 2014; however, the licenses to sell were just announced July 31 of this year. Applicants had to pay a refundable registration fee of $200,000 along with a non-refundable $10,000 fee. For a comparison, in Oregon, the application fee is $4,000 and in Massachusetts, there is a Stage One application fee of $1,500 and a Stage Two application fee of $30,000.

Wed
12
Aug

Investors Pack $16M Into Illumitex for LEDs as Medical Marijuana Gains

Lighting company Illumitex Inc. is illuminating not buildings and streets, but plants like marijuana.  The growth in its market has helped the company secure a new round of funding, as Dow Jones VentureWire reported.

The Austin, Texas-based company’s light emitting diode lamps can be customized to produce wavelengths and intensity specific to facilitating the growth of a particular plant. Illumitex’s lamps are mostly used to grow greenhouse tomatoes and leafy greens indoors, but medical marijuana is a newer and advancing market, said Chief Executive Chris Hammelef. The company is also exploring the use of its lights in human skin-care, such as for acne and in anti-aging.

Wed
12
Aug

Basalt-area marijuana farm's license in peril

In a highly charged meeting Tuesday, Pitkin County commissioners told the owners of High Valley Farms, a marijuana grow facility that debuted last year, that its license is in serious peril because of its chronic stench.

The meeting was the latest in a series of county commissioner work sessions over the smell wafting from High Valley Farms, located in the Basalt area. And each time, Jordan Lewis, co-owner of the greenhouses, has assured commissioners and neighbors the stench will be eradicated. The neighbors also have been making repeated claims that the odor hasn’t gone away, continually and negatively impacting their lifestyle.

Wed
12
Aug

American Indian tribes plan to make marijuana a cash crop

American Indian tribes are looking to become the beneficiaries of the “green gold rush” as the legalisation of marijuana spreads from state to state.

With four states and Washington DC already allowing the recreational use of pot, and more expected to follow, cannabis cultivation is on the cusp of becoming very big business, especially with another 23 states already allowing pot to be used for medicinal purposes.

This is very good news for American Indians with as many as 200 tribes understood to be considering growing cannabis on their land.

Wed
12
Aug

Scientific Botanical Leasing, Closes First Round $800K Funding, Rolls Out IRA and Qualified Plan Investment Offering

Scientific Botanical Leasing, a leader in engineering and development of cultivation and related manufacturing facilities, announced that it has finalized its first round funding totaling $800,000, and has opened its Series 2015B offering to new investors ($25,000 minimum, $1.5 million maximum offering, accredited investors only, 506C). The Series 2015B offers commercial real estate secured Notes, which can be purchased by IRA, Qualified Plan and other investors that meet the offering requirements.

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