AceCann, a Portuguese medical cannabis company, is receiving a €13 million ($18.7 million) investment from Casa Verde, a venture capital fund co-founded by Snoop Dogg. It is the firm’s first investment in continental Europe, according to Sifted.
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Medical and retail marijuana sales fell in August for the second consecutive year, while the state's tax and fee revenue also declined, according to the Colorado Department of Revenue's September report.
Prior to last year, marijuana sales throughout the month of August had continuously increased from the previous month since 2014, according to the report.
Throughout the month of August, $192 million worth marijuana was sold across the Centennial State, which is a decrease of over $9.9 million or nearly 5% from July. Likewise, this August's overall sales were nearly 12% lower than in 2020, according to the report.
Cannabis is booming. New numbers from Nevada’s Cannabis Compliance Board and Department of Taxation show the marijuana industry had more than $1 billion in taxable sales in the last year.
What these figures really show is that it is a product everyone is becoming more and more comfortable with.
And these gains are for the history books.
“It existed in the shadows for so long—you’d probably have to talk to someone from the 20s and 30s when alcohol was finally legalized,” said David Goldwater, a managing partner at Inyo Fine Cannabis Dispensary.
The past few years have seen a tremendous boost in the US cannabis industry, as 36 states have legalized the substance for medical or recreational use, or both, and several others have decriminalized it. At the Federal level, cannabis remains an illegal narcotic – but Federal law also prohibits prosecution of users who are in compliance with local state laws.
The industry is facing a number of headwinds, however, with the most serious being political in nature. Like so many headwinds these days, this originates with the partisan deadlock in Washington. Congress and the Biden Administration are finding it difficult to get major legislation passed into law, and so second-tier priorities, such as legalization of cannabis, are taking a back seat.
In what it describes as a month of climate action, Blac Sneaker Company is donating funds with each hemp sneaker purchase to have trees planted on its behalf.
Relatively new on the footwear scene, Blac Sneaker Company was established in 2019 with a goal of creating simple, stylish sneakers for everyday wear that minimise environmental impact in their production.
“We believe good quality and comfortable sneakers provide the perfect balance between sustainable, durable, useable and practical,” says the company. “These elements are important when designing a shoe that has a positive impact on society whether it be through the materials used or contribution to communities.”
As the cannabis industry scales, so does its need for experienced business veterans to steer companies towards the top. The demand has led to an influx of executives entering the space from other industries.
Most in the cannabis industry note that the move is a likely response to a nascent space. However, as recent analyses revealed, gender and diversity gaps persist at the top of cannabis companies.
Marijuana is legal for some or all adults in more than half of U.S. states. As the cannabis industry takes off, it has the potential to deliver a product with minimal environmental impact. Hemp packaging may help make those sales sustainable rather than leading to more harmful waste.
The cannabis industry is currently the fastest-growing industry in the U.S. In the last year, Americans spent more money buying cannabis than wine. While marijuana has been legalized in many states, it still hasn’t been legalized at the federal level. This means that there are few federal regulations regarding ethical trade and transportation of cannabis products.
The thriving and consistently crowded industrial real estate market has recently had to accommodate an increasing number of cannabis growing and processing plants in the municipalities that allow them.
However, in many cases, cannabis construction in these municipalities has led to the multi-million-dollar rehabilitation of obsolete industrial facilities.
Chicago-based Cresco Labs LLC had its first harvest two weeks ago at its newly opened, 110,000-square-foot facility at 210 Oliver Drive in Marshall, the former site of a Win Schuler and Campbell Soup Co. factory.
All THC products derived from the cannabis plant will soon be covered by state law and regulated by the Michigan Marijuana Regulatory Agency.
Starting Monday, October 11, these products will only be available after appropriate approvals, rigorous testing, and commercial standards that currently protect consumer safety in the legal marijuana marketplace. (AP Photo/Wilfredo Lee)
With the change, consumers will no longer be able to purchase the products in convenience stores, gas stations and tobacco/smoke shops throughout the state.
Nearly three years after Missouri voters legalized medical marijuana across the state, the cannabis industry in St. Louis appears to be thriving, with state-regulated dispensaries popping up throughout the region. But managing the money side of things has proven a struggle for many distributors and growers — even though their businesses are fully legitimate. That’s because many banks won’t accept their money, or insist on charging them significant fees if they do.
The two co-founders of CanaFarma Hemp Products have been charged with fraudulently raising $15 million from investors by making false statements about the “farm to table” hemp startup and its management.
The U.S. Securities and Exchange Commission said Vitaly Fargesen and Igor Palatnik misrepresented CanaFarma as a “fully integrated” hemp company and inflated its revenue in materials for two private offerings of shares while pocketing $4 million of the investor funds for their personal use and purposes unrelated to CanaFarma.
The cannabis market made huge progress over the last several years. The increase in the number of users boosted the industry’s value. Thanks to premium platforms like Askgrowers.com, anyone interested can learn about cannabis strains and brands quickly. Even most governments seem readier than ever to adjust the laws and legalize cannabis. (As originally Seen on Benzinga)
While the lack of federal legalization has made some investors hesitant to add cannabis companies to their portfolios, Intrinsic Capital Partners sees that as one of the things that makes the cannabis investment space so attractive. It’s a hyper-growth market, projected to grow at a compound annual growth rate (CAGR) of 26.5% over the next decade. Still, because it’s not federally legal, most traditional sources of capital and strategics haven’t felt comfortable entering the space yet.
Following 11 months of collaborative dialogue, the Santa Barbara County Coalition for Responsible Cannabis (Coalition) and CARP Growers reached a historic agreement on Aug. 20, ensuring cannabis farms work in cooperation with the community group to resolve odor issues in a proactive and cooperative way across Carpinteria Valley.
The agreement holds all CARP Growers member farms accountable to a partnership with the coalition and a detailed odor abatement plan outlining a new expanded odor response process, and a comprehensive program to develop and implement next-generation odor technologies.
Community engagement in the plan will be encouraged for reporting, investigating, and resolving cannabis odor incidents.
American Cannabis Company, Inc.
(OTCQB: AMMJ) (“ACC” or “Company”), a full-service business-to-business cannabis and hemp
consulting solutions provider and licensed owner operator, is pleased to announce that its
proprietary potting mix, SoHum Living Soils®, was recently awarded an official certification from
the Organic Materials Review Institute (OMRI).
OMRI's mission is to provide the agricultural industry with peace of mind in knowing that
quality materials are consistent and organic as a standard. This organization provided an
independent review of SoHum Living Soils®, looking at each individual input that is intended for
use in certified organic cultivation and production.
Cannabis Conference 2021, the industry’s leading event for plant-touching businesses, was host to nearly 3,000 cannabis professionals in August, who came together for the first time in two years to share the latest technologies and solutions, business strategies and more at Paris Las Vegas Hotel & Casino.
On the 85,000-square-foot trade show floor, 175 exhibitors showcased their products and services, while nearly 90 speakers shared their expertise during Cannabis Conference’s 40-plus session educational program. Sessions were jam-packed with business, cultivation, extraction and dispensary insights. After a monumental year in cannabis—there was much to discuss and break down.
A flurry of laws passed by the Nevada Legislature earlier this year took effect on Friday – ushering in reforms that Democratic lawmakers who have majorities in both the state Senate and Assembly have long campaigned to implement.
Five years after the the state’s voters approved legalizing recreational cannabis in Nevada, business owners can now apply for licenses to establish on-site consumption lounges, where adults can smoke, dab or eat THC-laced edibles that they buy.
Trulieve, the state’s largest medical marijuana operator, is now the nation’s biggest cannabis retailer, after closing on a $2.1 billion deal to acquire former competitor Harvest Health & Recreation Inc.
The transaction marks a major development in Florida, where Harvest held one of 22 licenses to cultivate, process and sell medical marijuana to a growing patient population, and in the nation’s rapidly expanding pot industry.
Trulieve CEO Kim Rivers called the closing of the deal a “transformational milestone” in her Gadsden County-based company’s brief history.
If you're looking for stocks that you can buy and hold for many years, it's important to choose companies with high-quality businesses and strong catalysts for growth. One industry that receives ample attention from investors of all ages and trading styles is the marijuana sector.
As more states have legalized pot for medical and recreational purposes, growers, retailers, and ancillary providers have popped up right and left. Legal cannabis sales in the U.S. shot up nearly 50% in 2020. And the global legal marijuana market is on track to reach a valuation of nearly $71 billion as soon as 2028.
Trulieve, a cannabis company that operates across 11 U.S. states, has completed the acquisition of Arizona-based Harvest Health & Recreation Inc. The US$2.1 billion deal was first announced in May. Trulieve is now the largest and most profitable cannabis operation in the U.S., according to the company’s announcement.
