Tilray, one of the largest licensed producers of cannabis in Canada, made history today, becoming the first cannabis grower to complete an initial public offering on a US stock exchange.
After the Nasdaq listing went live, Tilray stock price rose more than 20%, raising $153MM.
Continue reading “Canadian Cannabis Producer Tilray Makes History on the US Stock Exchange”
As Michigan residents prepare to vote on adult-use cannabis legalization this November, the state’s 220,000 medical marijuana patients are still wondering when the state will start licensing their MMJ dispensaries.
There are 540 cannabis license applicants. Only 19 are currently being processed, and 8 of those have already been rejected.
Continue reading “What’s Holding Up Michigan’s Medical Marijuana Licenses?”
Life up in the hills also used to mean no paperwork, since you needn’t apply for any licenses or pay any taxes on an illicit crop. Any type of physical documentation of the process could only prove incriminating anyway. Even during the “grey market” in medical cannabis—which started with the passage of Prop 215 in 1996, and ended this January with the state’s implementation of “seed-to-sale” tracking of all commercial cultivation and distribution—the regulatory burden for small growers often involved little more than having the phone number of a good lawyer handy, just in case. Continue reading “Flow Kana: California’s Last Best Hope for Craft-Scale Success”
It’s the opening chapter of California’s new era of regulated cannabis, and already a market disruption is underway.
Generally, retailers have ample product on store shelves for both adult use and medicinal cannabis consumers, but some brands are now in short supply. Prices are mostly stable, though new state taxes on legal purchases have meant sticker shock for customers.
Meanwhile, the black market appears to be thriving anew—invigorated by dissuasive taxes on growers, plus licensing fees and frustrations over difficulties of entering the legal economy. If more cultivators aren’t licensed by the state, manufacturers for cannabis concentrates for vape pens, waxes, and infused edibles fear they may run short of their critical production component – leafy cannabis trim – by summer.
Continue reading “With Growers in the Shadows, California Faces Cannabis Shortage”
Oregon cannabis retailers caught selling to minors will face harsher penalties under a temporary rule approved by state regulators on Friday. That means heavier fines, longer license suspensions, and even the revocation of individual worker permits.
Continue reading “Oregon Steps Up Penalties for Cannabis Sales to Minors”
Pennsylvania officials on Thursday announced the first all-clear for a medical marijuana dispensary in the state to begin providing cannabis once it becomes available from a licensed grower.
The Keystone Canna Remedies dispensary in Bethlehem received the state authorization, a major milestone in Pennsylvania’s new medical marijuana program.
“It means there’s going to be safe and effective access to a new medicine that can help (patients) in a wide variety of ways,” said Victor Guadagnino, the company’s co-founder and chief of business development. He said the company sees cannabis as a way patients can take a more active role in their own health care.
Continue reading “Pennsylvania Approves First Medical Cannabis Dispensary”