Marijuana Sales, Funding & Banking News

Week in Review: Vape crisis continues, federal cannabis bill moves, Utah licenses & more

State regulators from across the country react to the vaping crisis, a federal marijuana banking bill sees movement, Utah ups its medical cannabis licensing opportunities –?and more of the week’s top marijuana business news. States’ responses to vaping crisis State regulators nationwide have begun responding in earnest to the vaping illness epidemic, which now stands […]

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Week in Review: Cannabis vape crisis, CA banking bill fails, public corruption in MA & more

Sales fall for recreational marijuana vaping products as a health scare hits the mainstream media, a California marijuana banking bill dies but could return in 2020, a Massachusetts mayor is deposed for allegedly ripping off MJ firms – and more of the week’s top cannabis business news. Vaping crisis The pulmonary illness epidemic related to […]

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Medicine Man Technologies announces 11th cannabis buy

Denver-based Medicine Man Technologies on Thursday announced its 11th?marijuana business acquisition of the year – a $5.1 million cash and stock deal for Canyon, an infused edibles manufacturer. Medicine Man Technologies will pay no more than $2.6 million in cash for the 10-year-old Canyon, which also is based in Denver. The number of shares paid […]

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Aurora Cannabis closes new loan deal worth as much as CA$200 million

Alberta-based Aurora Cannabis closed an expansion of a loan deal with three of Canada’s biggest banks, making it among the largest nonconvertible debt facilities in the marijuana industry to date, according to analysts. Aurora said it closed term loans worth an additional 160 million Canadian dollars ($120 million) with a syndicate of lenders led by […]

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Florida’s medical cannabis industry has only one truly dominant player

Florida’s medical marijuana market is often described by industry watchers as an oligopoly – dominated by a few vertically integrated operators. But it isn’t. The reality is that the roughly half-billion-dollar market is dominated by one player – Florida-based Trulieve, which is capturing nearly 50% of all sales. No other company comes close. Experts say […]

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California marijuana banking bill dies but might return in 2020

A bill to set up a state-run banking system for California cannabis companies died after months of legislative wrangling, but the measure’s sponsor already pledges to reintroduce the bill in 2020. Senate Bill 51, sponsored by Sen. Robert Hertzberg, was one of the most closely watched cannabis industry measures in the California legislature this year. […]

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Medicine Man Technologies’ acquisition of CO marijuana firm its ninth this year

A buying spree by Denver-based Medicine Man Technologies continues, with a deal announced Wednesday to buy Colorado Harvest Co. and its three cannabis storefronts for $12.5 million. Medicine Man Technologies said it is paying $4 million in cash and 2.8 million shares of common stock valued at $2.95 per share, equal to $8.5 million in […]

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Week in Review: DEA marijuana research, MMJ licensing case heads to FL high court, NV adult-use license ruling & more

The DEA indicates support for expanding cannabis research, a Florida medical marijuana licensing issue is sent to the state’s Supreme Court for potential review, a Nevada judge freezes some permits for new recreational marijuana shops –?and more of the week’s top cannabis business news. DEA to up cannabis research The U.S. Drug Enforcement Administration (DEA) […]

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Vireo Health posts cannabis revenue rise, net loss for second quarter

Vireo Health, a Minneapolis-based multistate marijuana operator, on Thursday reported revenue of $7.2 million in the second quarter, up 70% from the same period a year ago. The net loss for the quarter, ending June 30, was approximately $1.9 million, compared with net income of $120,080 for the prior-year period. The company recently announced it […]

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