Business
The Budding Ganja Business
-
Marijuana investors commit more than $1 million after Denver meeting
A Denver meeting of a marijuana industry investment group resulted in more than $1 million in new money being pumped into cannabis businesses, the group announced Wednesday. Troy Dayton, the CEO of The ArcView Group, said members of the group’s investor network are still sealing deals after Tuesday’s meeting at the Denver Athletic Club, but he
Read More… -
For Marijuana Entrepreneurs, Sticky Red Tape Remains in Colorado
Photograph by Matthew Staver/The New York Times via Redux A 60-acre field of hemp in Springfield, Colo., which draws no distinction between hemp and marijuana Once a quarter for the past two years, the ArcView Angel Investor Network plays matchmaker between individuals curious about investing in the newly legal marijuana market and pot entrepreneurs who
Read More… -
Marijuana Legalization: NYC’s Next Mayor Will Try to Legalize Weed
Marijuana Legalization: NYC’s Next Mayor Will Try to Legalize Weed © Flickr (North Cascades National Park) The next mayor of New York City will help usher in the decriminalization of marijuana, regardless of which candidate wins the seat. Mayoral aspirants Bill de Blasio and Joseph Lhota, who were selected as nominees to represent their respective
Read More… -
22 medical marijuana applicants weeded out by Massachusetts Department of Public Health
BOSTON — A total of 22 applicants formedical marijuana dispensaries were eliminated on Monday from competition by the state Department of Public Health. The process now leaves 158 applicants for dispensary licenses for medical marijuana, down from 181 initial applicants. In addition to the 22 eliminated by the state, one company withdrew. A total of 22 applicants failed
Read More… -
Maine medical marijuana users fear loss of subsidized housing
ED ANDRIESKI Marijuana plants flourish under the lights at a grow house. (AP Photo/Ed Andrieski) PORTLAND — Some medical marijuana patients may have to choose between their cannabis and their federally subsidized housing if a state moratorium is not renewed before its Oct. 1 deadline. While state housing officials say it’s unlikely the deadline will
Read More… -
Feds seek to legalize marijuana industry banking
WASHINGTON (AP) – The Justice Department and federal banking regulators will help clear the way for financial institutions to transact business with the legitimate marijuana industry without fear of prosecution, Deputy Attorney General James Cole told Congress on Tuesday. The issue has taken on greater urgency now that Colorado and Washington have become the first
Read More… -
Marijuana: OK to sell. But no banking for the businesses?
It might be OK with the feds for Washington and Colorado to grow and sell marijuana within their borders. But borrowing and saving money to grow and sell pot amount to something else. The feds still have laws against money laundering and racketeering — meaning drug money cannot legally go into, come out of or stay within banks.
Read More… -
Feds in Talks With Banks Over Dealing With Marijuana Business
The government is in talks with bank regulators to see whether financial institutions in states that have approved recreational marijuana use can do business with drug dispensaries there, a top Justice Department official said Tuesday. The announcement came nearly two weeks after the Justice Department decided it won’t take legal action against Colorado and Washington,
Read More… -
Another Latin American country mulls letting its people grow pot
Not what the army trained him for. Reuters/Stringer Mexico It’s been barely a month since Uruguay moved closer to legalizing marijuana, and now another Latin American country appears to be following suit. Mexico City’s council is mulling legislation (Spanish link) that would allow citizens to cultivate up to three cannabis plants each, and permit a system of marijuana growing co-operatives,
Read More… -
Is Monsanto Ready to Enter The Medical Marijuana War?
As legally allowed medical marijuana becomes more widespread, it is no surprise that many are realizing there is legal money to be made off of this traditionally illegal cash crop. Even Illinois has adapted medical marijuana laws, and soon it will be legal to buy weed in Chicago as long as you have a prescription. With
Read More… -
Mexico City Mulls Legal Marijuana Clubs
The Mexico City council is considering the legalization of cannabis plants and the creation of private marijuana smoking “clubs” as it mulls controversial legislation to liberalize consumption, lawmakers said. The capital hosted a three-day forum on drug policy amid a growing debate in Latin America over the course of the region’s deadly struggle against narcotrafficking,
Read More… -
Legal marijuana likely available next June
OLYMPIA — Anyone waiting to legally buy recreational marijuana in Washington will have to wait about nine months longer. Revised regulations given tentative approval Wednesday for a system to license, inspect and track the drug would probably get the first lawfully grown and processed marijuana into state-licensed stores by June 1, some 20 months after voters
Read More… -
State liquor board would allow 3 Kent marijuana retail stores
The city of Kent would be allowed as many as three recreational marijuana retail stores under the filing of proposed supplemental rules approved Wednesday by the the Washington State Liquor Control Board. The city of Kent, however, bans recreational marijuana stores as well as production or processing facilities. So if someone came to the city for
Read More… -
Wash. to issue 334 licenses for legal pot stores
SEATTLE – The Washington State Liquor Control Board released a detailed county-by-county breakdown on the number of retail licenses it will issue for selling marijuana. On Wednesday, the board said to will grant a total of 334 licenses for stores to sell pot in the newest phase in the implementation of I-502, the state ballot
Read More… -
Marijuana Smoke and mirrors
Marijuana has been a bit of a media buzzword in recent weeks, with public figures of all stripes from across the country in federal, provincial and municipal politics adding their own confessions to the deluge of admissions into personal pot-smoking histories. Federal Liberal Leader Justin Trudeau was first in line, declaring he’d smoked a joint
Read More… -
Legal marijuana: How could it work?
Interim step of decriminalization not the answer, say advocates for legal pot Liberal Leader Justin Trudeau’s recent call for legalization and referendum votes in Colorado and Washington in 2012 have opened the door to a discussion on how to legalize marijuana in Canada. (Cliff DesPeaux/Reuters) While the debate rages for and against legalizing marijuana, there’s
Read More… -
Massachusetts: The Department of Health Receives 181 Dispensary License Applications
The competition to land one of 35 medical marijuana dispensary licenses that the state of Massachusetts will allow is underway. The Department of Public Health received a total of 181 applications that they’re currently reviewing to determine which of the contenders will obtain a license to dispense marijuana for medicinal dedications in the state. The list of
Read More… -
In Washington and Colorado, the Real Fight Will Come Down to Marijuana Businesses
Nearly 10 months after Colorado and Washington state legalized the use and sale of recreational marijuana, Vermont Senator Patrick Leahy announced Monday that he’s invited Attorney General Eric Holder and Deputy Attorney General James Cole to testify at a September 10 Senate Judiciary Committee hearing. Specifically, Leahy wants Holder and Cole to answer questions about “whether it is
Read More… -
Medical marijuana industry draws interest, and caution abounds
When Governor Pat Quinn signed a bill earlier this month that will legalize medical marijuana in Illinois, it opened up a new industry to legitimate investment in the state, albeit an industry that is still illegal under federal law and thus carries a unique risk. According to a report by the Chicago Tribune, more than 200 people paid as
Read More… -
Watch out for medical marijuana investment scams
What’s that old saw about making sure something passes the smell test before putting your money on the line? So if you sense a little odd aroma around a text or e-mail that touts the next hot stock, make sure to hold onto your checkbook. That’s right, the Financial Industry Regulatory Authority issued a warning
Read More…
Recent Comments