Medical Marijuana, Inc. (OTC: MJNA) (the “Company”), the first-ever publicly traded cannabis company in the United States that launched the world's first-ever cannabis-derived nutraceutical products, brands and supply chain, announced today that the Company’s subsidiary Kannaway has launched its operations in Hong Kong.
Halo Collective Inc. ("Halo" or the "Company") (NEO: HALO) (OTCQX: HCANF) (Germany: A9KN) today entered into definitive agreements to acquire Food Concepts LLC, the master tenant of an approximately 55,000 square foot indoor cannabis cultivation, processing, and wholesaling facility in Portland, Oregon operated under the Pistil Point name (the "FC Acquisiton"), and the related licenses issued by the Oregon Liquor Control Commission ("OLCC") and other operating assets owned by the entities doing business as Pistil Point (the "Pistil Point Acquisition")). The FC Acquisition is expected to close within the next week upon the filing of articles of merger filed with the Oregon Secretary of State.
MC3 Botanicals, a women-owned company located in Mastodon township in Iron County, recently received its official license from the state of Michigan to operate the Class B grow facility. The license allows the business to cultivate up to 1,000 medical grade cannabis plants. MC3 is also in the process of obtaining a Class B recreational license.
Sherry Smies, Lisa Lesandrini and Susan Schuytema founded the company in 2018 in anticipation of Michigan voting to legalize recreational cannabis.
If you want to get into the cannabis industry in California—where more than $5 billion worth of legal, adult-use cannabis is on pace to be sold this year, according to tax figures—and you want to do it quickly, don’t bother with selling adult-use cannabis. Instead, you want to grow it.
Most cities in the state still don’t allow retail adult-use sales. Many of those that do cap the number of dispensaries allowed within city limits. And almost everyone running a retail storefront says that high taxes and an abundance of cheap, illicit-market weed is killing them. It’s not a good way to make money!
When the U.S. government eventually legalizes marijuana, there will undoubtedly be a lot more businesses looking to expand into the growing industry. The current federal ban on pot means that large companies with robust logistical abilities don't generally see the point of getting involved, since marijuana can't cross state lines. But there's hope that with Senate Majority Leader Chuck Schumer leading the charge and pushing for marijuana reform (which includes legalization), significant changes could be coming soon.
Want to know how I know that weed is going to be legalized on a federal level fairly soon Insurers are getting ready. That’s right! One of these days you’ll be able to get weed insurance on your crops, cannabis-related business ventures and much more.
There is no denying that cannabis is BIG business. Some estimates believe that by 2026 the cannabis industry could hit $41b annually. Despite the yearly earnings for the cannabis industry, insurers only wrote out about 250 million in policies and in many cases are charging far more than typical retailers with extreme limits in place.
This might not be of significant importance to consumers, but if insurers do get a chance to play with the cannabis industry, it could revolutionize the industry within a matter of months.
The finishing touches are being put on what’s touted to be largest hemp CBD processing facility in the USA.
HempRise’s Indiana facility is being constructed in River Ridge in Jeffersonville. The 25 acre purpose-built, dedicated hemp extraction campus will feature a 100,000 square foot extraction facility capable of processing 3.5 million kilograms of industrial hemp biomass annually. The project will also provide a local employment bonanza, with dozens of jobs created in the first year.
The $80 million facility will produce full-spectrum and broad spectrum hemp extracts, along with cannabidiol (CBD) isolate.
Generation Hemp, Inc., a Dallas/Fort Worth based midstream hemp company (OTCQB: GENH) and its wholly-owned subsidiary, GENH Halcyon Acquisition, LLC (collectively the “Company”), today announced that its Chairman and CEO, Gary C. Evans, plans to speak at The Southern Hemp Expo located in Raleigh, NC on September 2, 2021 regarding the financial wellness for hemp companies. Also announced today is the Company’s plan to implement green policies wherever possible for its existing operations of drying, cleaning, stripping, and located in western Kentucky.
As different as they may seem, there's some overlap between the cannabis industry and biotech that's worth understanding as an investor. Cultivators can use biotechnology to manipulate the genes of marijuana plants to increase their yield, and biotechs can use the bioactive chemicals contained in cannabis as jumping-off points for drug development efforts.
Both of the companies I'll analyze today conduct their business within these overlapping regions. And, if their efforts continue to pan out as planned, they'll be valuable stocks to own, especially as the biotech sector becomes more sophisticated and as the cannabis industry scales to match global demand.
Canonic Ltd, a company focused on the development of medical cannabis products and a wholly owned subsidiary of Evogene Ltd. (NASDAQ: EVGN) (TASE: EVGN), announced today the pre-launch of its first-generation medical cannabis inflorescence products.
Cannabis company Sundial Growers (NASDAQ:SNDL) got an influx of cash earlier this year thanks to its rising popularity with retail investors. The meme stock cashed in on its hype in late January and early February when management took advantage of an inflated stock price and announced two offerings. Sundial is now in a great financial position, sitting on hundreds of millions of dollars -- well more than what it needs to fund its day-to-day operations.
Members of Arkansas' medical marijuana industry at a legislative subcommittee meeting last week aired frustrations with the state contractor used to track cannabis products and sales.
The vice chairwoman of the Arkansas Legislative Council's Medical Marijuana Oversight Subcommittee, Sen. Linda Chesterfield, D-Little Rock, raised the issue on Thursday, saying she had heard concerns about the accuracy of data in the Biotrack system and that the company had not been responsive to providers' needs.
The state, through the Arkansas Department of Health, signed a $560,000 contract with Biotrack in 2017, which can be renewed annually through 2024.
There is a major debate about the loss of Afghanistan, but for the most part, it has followed the Prime Directive: “Don’t mention the Drug War!”
Nonetheless, it seems relevant that Afghanistan is still the world’s largest opium poppy producer.
According to Reuters, “Despite the threats posed by Afghanistan’s illicit drug business, experts noted, the United States and other nations rarely mention in public the need to address the trade, estimated by the UNODC at more than 80% of global opium and heroin supplies.”
So, we controlled the country? And our Drug War was subsidizing the Taliban?
Hemp fiber is majorly used in the textile and paper & pulp industry, due to its long and robust fibers as compared to cotton. Furthermore, being a renewable source material, its application has been increasing in many diverse industries such as construction, animal bedding, furniture, agriculture, and automobile.
The municipality of Garray (Soria) in Spain could boast until recently that it hosted “the largest rose greenhouse in Europe.”
That was a year ago, but now, a new firm, Ondara, has acquired the entire company. Although at first, the new owners wanted to make roses compatible with other crops, between February and April this year it decided to uproot the rose bushes altogether to focus on “the new project”: medicinal cannabis.
If the government could just get out of the way of marijuana, it could realize its full potential as a massive growth opportunity. Unfortunately, a tax and regulatory morass on the state level, coupled with its continuing classification as an illegal substance federally, has put roadblocks in front of otherwise good pot stocks.
Other cannabis stocks, however, seem to go out of their way to sabotage themselves and their investors. Canopy Growth (NASDAQ:CGC), Charlotte's Web Holdings (OTC:CWBHF), and Aurora Cannabis (NASDAQ:ACB) should be avoided because of self-inflicted wounds that hold them back.
As the cannabis industry continues to grow in value, many in Black and brown communities can’t help but notice the irony of it all. Millions of people (primarily people of color) are stuck serving out lengthy prison sentences for selling a substance that many are legally profiting from now. (Photo credit,Voila)
The ongoing issue is what inspired former NBA players Al Harrington and Wilson Chandler to team up with Kanye West’s manager John Monopoly to spearhead an initiative through Harrington’s VILLAGE to scale the growth of Black ownership within the cannabis industry.
One of the most respected cannabis entrepreneurs and activists, Kris Krane, is joining New York-based KCSA Strategic Communications, to lead its new Chicago office.
According to information procured exclusively ahead of an official announcement, Krane, former president of 4Front Ventures, a cannabis multi-state operator (MSO) once valued at more than $1 billion, will focus on business development and client advisory at KCSA’s Windy City office. He will also become a recurring participant in the communication firm’s “The Green Rush” podcast.
According to Krane, what drove him to KCSA was his six-year experience as a client. “I had the opportunity to see their professionalism and dedication to the cannabis industry firsthand.”
Cannabis is still federally illegal and is included on Schedule 1 of the Controlled Substances Act (CSA), along with such other substances as heroin, fentanyl and methamphetamines.1 It is a federal crime to grow, possess or sell cannabis.
Despite being federally illegal, 36 U.S. states and the District of Columbia have legalized the sale and use of cannabis for medical and/or adult use purposes,2 and both direct and indirect cannabis-related businesses (CRBs) are growing at a rapid rate. Revenue from medical and adult use cannabis sales in the US in 2019 is estimated to have reached $10.6B-$13B and is on track to reach nearly $37B in 2024.3
The Mashantucket Pequot Tribal Nation is considering establishing a cannabis retail business among other possible options, its chairman said Tuesday without offering details.
A trade publication, Leafly, citing anonymous sources in the tribal government, reported that Foxwoods plans to open near the casino a “mega-dispensary” larger than 25,000 square feet as early as next spring.