March 5, 2021

Valenzuela Post

Global Business, Financial News & Trends

POT news

POT NEWS

  • DEA Reports Southern Border Pot Busts Down 80% Since 2013
    by A.J. Herrington on March 5, 2021 at 12:18 am

    The report notes that despite federal prohibition, cannabis is widely available in every state.

  • “Pre-Roll Experts” offer new, high-capacity grinder for the hemp industry
    by Pamela Moore on March 4, 2021 at 10:28 pm

    CONTACT INFORMATION: Custom Cones USA 360-335-3938 contact@customconesusa.com  RELEASE DATE: March 5, 2021  CUSTOM CONES USA Dateline: [FIFE, WASHINGTON, March 2021] — In an ongoing effort to have the most comprehensive selection of cones, tubes, industrial machines, and packaging for the pre-roll sector of the hemp and cannabis industry, Custom Cones USA is proud to now “Pre-Roll Experts” offer new, high-capacity grinder for the hemp industry is a post from: Marijuana Business Daily: […]

  • Alabama Senate Panel Passes Bill To End Jail Time For Pot Possession
    by A.J. Herrington on March 4, 2021 at 9:51 pm

    A measure that would significantly reform cannabis policy in Alabama is now up for consideration by the full State Senate.

  • Most CA marijuana businesses have no right to due process, court filing asserts
    by John Schroyer on March 4, 2021 at 9:07 pm

    California’s attorney general argued in a recent court filing that none of the state’s cannabis businesses operating on provisional licenses are entitled to due process under state law. The due-process situation arose when Hayward-based Harrens Lab filed suit against the California Bureau of Cannabis Control (BCC) after the agency revoked the lab’s provisional business license Most CA marijuana businesses have no right to due process, court filing asserts is a post from: Marijuana […]

  • Schwazze completes acquisition of 13 Colorado cannabis stores
    by Jeff Smith on March 4, 2021 at 7:43 pm

    Schwazze, a Denver-based vertically integrated cannabis operator, said it has acquired the five remaining Star Buds retail outlets in Colorado for $72.3 million, including $27.5 million in cash. With the acquisition, Schwazze, formerly Medicine Man Technologies, now owns and operates all 13 Star Buds locations in Colorado. The terms of the latest acquisition included $26.9 Schwazze completes acquisition of 13 Colorado cannabis stores is a post from: Marijuana Business Daily: Financial, Legal […]

  • NAACP Claims New Jersey Cannabis Panel Illegal Without Black Men
    by Addison Herron-Wheeler on March 4, 2021 at 7:08 pm

    Critics have been pointing out that although Black men have historically been disproportionately targeted in the War on Drugs, there are no Black men on New Jersey's new Cannabis Regulatory Commission.

  • CBD producer Charlotte’s Web plans marijuana entry with $8M acquisition
    by Kevin Huhn on March 4, 2021 at 6:45 pm

    (A version of this story first appeared at Hemp Industry Daily.) Charlotte’s Web Holdings, a Colorado-based, hemp-derived CBD leader, said it signed a five-year purchase agreement option to acquire a marijuana company for $8 million. The marijuana business was started by Charlotte Web’s founding company, Stanley Brothers USA Holdings. The deal is structured so that CBD producer Charlotte’s Web plans marijuana entry with $8M acquisition is a post from: Marijuana Business Daily: Financial, […]

  • Las Vegas cannabis retailers get OK to offer drive-thru service
    by Omar Sacirbey on March 4, 2021 at 5:46 pm

    Las Vegas offers drive-thrus for alcohol, gambling, weddings and peep shows, and now the tourist mecca is allowing cannabis stores to offer the service. The Las Vegas City Council voted 6-0 on Wednesday to rescind a citywide restriction on marijuana retail drive-thru operations, the Las Vegas Review-Journal reported. Marijuana business advocates and other industry stakeholders Las Vegas cannabis retailers get OK to offer drive-thru service is a post from: Marijuana Business Daily: Financial, […]

  • High-end cannabis producer GTEC reports positive net income
    by Matt Lamers on March 4, 2021 at 4:47 pm

    Kelowna, British Columbia-based GTEC Holdings reported net income from operations of 282,000 Canadian dollars ($223,600), reversing a net loss of CA$8.3 million in the previous year, according to full-year and fourth-quarter results released Wednesday. GTEC’s net revenue for the year was CA$7.9 million, a substantial increase from 2019’s CA$2.4 million. On a quarterly basis, GTEC’s High-end cannabis producer GTEC reports positive net income is a post from: Marijuana Business Daily: […]

  • Customer loyalty programs offer clear benefits for cannabis stores
    by Solomon Israel on March 4, 2021 at 11:30 am

    Loyalty programs, long a staple of consumer marketing strategies, have found a place among regulated cannabis retailers in the United States and Canada. By offering perks such as discounts, points, special offers and new-product notifications, retail operators say loyalty programs can be a useful tool for: Boosting basket sizes. Increasing the frequency of customer visits. Customer loyalty programs offer clear benefits for cannabis stores is a post from: Marijuana Business Daily: Financial, […]

  • West Virginia Governor’s Stance Against Adult-Use Marijuana ‘Weakening’
    by A.J. Herrington on March 3, 2021 at 11:17 pm

    Governor Jim Justice is still not totally sold on the idea, though.

  • Wyoming Introduces Legislation to Regulate Cannabis
    by Addison Herron-Wheeler on March 3, 2021 at 10:56 pm

    Does House Bill 0209 have a fighting chance in Wyoming's state Congress?

  • Groundbreaking Reggae Star Bunny Wailer Dies At 73
    by A.J. Herrington on March 3, 2021 at 10:28 pm

    The last surviving member of the original Wailers passed away this week.

  • Illinois city uses weed sales tax for reparations
    by Janessa Bailey on March 3, 2021 at 8:53 pm

    Evanston, IL becomes the first US city to use legal market marijuana taxes for reparations towards the Black community. The post Illinois city uses weed sales tax for reparations appeared first on Leafly.

  • Canada extends wage subsidy popular with cannabis producers
    by Matt Lamers on March 3, 2021 at 8:26 pm

    Canada’s government is extending a pandemic-related wage-subsidy program that has been tapped by more than a dozen federally regulated cannabis producers. The Canada Emergency Wage Subsidy (CEWS) program, which subsidizes wages for employers that have lost revenue because of the COVID-19 crisis, was set to expire March 13. The program has been extended to June Canada extends wage subsidy popular with cannabis producers is a post from: Marijuana Business Daily: Financial, Legal & […]

  • Washington, D.C. Council Chairman Introduces Cannabis Legislation
    by Addison Herron-Wheeler on March 3, 2021 at 6:40 pm

    Could Washington, DC finally get the ball rolling on a recreational cannabis market?

  • Terra Tech acquires marijuana competitor Unrivaled in all-stock deal
    by John Schroyer on March 3, 2021 at 6:15 pm

    California-based Terra Tech Corp. said Wednesday it finalized a deal to acquire another West Coast marijuana multistate operator, Umbrla, which does business as Unrivaled and includes multiple MJ brands in its portfolio. Terms of the deal were not disclosed other than the merger was an “all-stock transaction.” But Terra Tech CEO Frank Knuettel II predicted Terra Tech acquires marijuana competitor Unrivaled in all-stock deal is a post from: Marijuana Business Daily: Financial, Legal & […]

  • Nearly 20 Vermont towns vote to allow recreational cannabis sales
    by Omar Sacirbey on March 3, 2021 at 5:16 pm

    Voters in Vermont’s biggest city, Burlington, as well as the state capital, Montpelier, and at least 16 other towns approved recreational cannabis sales in their communities. At least 27 cities and towns went to the polls Tuesday to decide whether to allow recreational cannabis businesses, the Montpelier-based VTDigger reported. The votes were conducted as part Nearly 20 Vermont towns vote to allow recreational cannabis sales is a post from: Marijuana Business Daily: Financial, Legal & […]

  • Marijuana marketing tips in the age of federal prohibition and COVID-19 
    by Bart Schaneman on March 3, 2021 at 4:00 pm

    Federal prohibition continues to shudder on-ramps for marijuana companies to use traditional means to reach consumers and strengthen brand identity. Marijuana marketing tips in the age of federal prohibition and COVID-19  is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

  • MariMed secures $46 million in funding to expand marijuana footprint
    by Jeff Smith on March 3, 2021 at 3:47 pm

    Multistate marijuana operator MariMed said it has raised $46 million to support acquisitions and repay most of its long-term debt. Hadron Healthcare Fund is providing the capital, including an initial $23 million on March 2, in exchange for MariMed stock and warrants. The fund is managed by Hadron Capital, which is incorporated in the Cayman MariMed secures $46 million in funding to expand marijuana footprint is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news […]

  • Pennsylvania Governor Approves Cannabis Pardons
    by Addison Herron-Wheeler on March 3, 2021 at 3:00 pm

    Governor Tom Wolf pardoned 69 people who were charged with nonviolent cannabis offenses.

  • Cannabis MSO Verano to expand in 3 states via deals exceeding $100 million
    by Jeff Smith on March 3, 2021 at 2:00 pm

    Cannabis multistate operator Verano Holdings announced agreements to acquire a total of nine operating retail outlets or licenses in Arizona, Illinois and Pennsylvania for nearly $100 million in cash and tens of millions of dollars more in stock. The transactions are expected to close by early second quarter, subject to regulatory approvals and other conditions. Cannabis MSO Verano to expand in 3 states via deals exceeding $100 million is a post from: Marijuana Business Daily: Financial, Legal […]

  • MedMen co-founders Bierman, Modlin return to cannabis industry with different California company
    by John Schroyer on March 3, 2021 at 11:30 am

    They’re back! Less than a year after being ousted from leadership posts at California-based MedMen Enterprises, former CEO Adam Bierman and ex-President Andrew Modlin have found a route back into the legal marijuana industry – working for a separate cannabis company headquartered in Santa Barbara. According to multiple industry sources, the MedMen co-founders have been MedMen co-founders Bierman, Modlin return to cannabis industry with different California company is a post from: Marijuana […]

  • Washington state taps new chair of marijuana regulatory board
    by Bart Schaneman on March 2, 2021 at 11:26 pm

    Washington state's cannabis regulatory agency has a new chairman of the board.  Washington state taps new chair of marijuana regulatory board is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

  • Vape Company Puffco Teams Up With The Comedy Store To Present Drive-In Stand-Up Shows
    by Thomas Edward on March 2, 2021 at 10:32 pm

    A COVID-safe comedy show is coming to Los Angeles!

  • AG Nominee Merrick Garland Signals Hands-Off Policy For State-Legal Pot
    by A.J. Herrington on March 2, 2021 at 10:02 pm

    President Biden's pick for Attorney General is pushing for a focus on more serious crimes than cannabis offenses.

  • NAACP: New Jersey cannabis panel illegal without a Black man as member
    by John Schroyer on March 2, 2021 at 9:30 pm

    The New Jersey chapter of the NAACP is charging that the state’s Cannabis Regulatory Commission is technically illegal since none of its five appointed members are Black men. The commission, which was completed Feb. 25, is made up of one Black woman, one white man, one white woman, one Latino man and one Latino woman, NAACP: New Jersey cannabis panel illegal without a Black man as member is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis […]

  • Government-run cannabis stores in Quebec, New Brunswick post profits
    by Matt Lamers on March 2, 2021 at 9:05 pm

    The government-run cannabis store operators for Quebec and New Brunswick reported quarterly profits for the periods ended Jan. 2, 2021, and Dec. 27, 2020, respectively. Quebec’s Société québécoise du cannabis (SQDC) posted net income of 23.3 million Canadian dollars ($18.1 million) in its latest quarter, according to three- and nine-month financial results released Monday. The Government-run cannabis stores in Quebec, New Brunswick post profits is a post from: Marijuana Business Daily: […]

  • Marijuana and CBD retailer High Tide posts higher revenue of CA$24.9 million
    by Solomon Israel on March 2, 2021 at 7:24 pm

    High Tide, a Canadian cannabis retail chain that also sells CBD and marijuana accessories in the United States, reported revenue of 24.9 million Canadian dollars ($19.7 million) for its fourth quarter ended Oct. 31. Total revenue for High Tide’s 2020 fiscal year was CA$83.3 million, an increase of 166% from 2019. High Tide’s net loss Marijuana and CBD retailer High Tide posts higher revenue of CA$24.9 million is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness […]

  • Alaska’s interim cannabis chief gets permanent appointment
    by Omar Sacirbey on March 2, 2021 at 6:21 pm

    Glen Klinkhart, who has served as interim director of Alaska’s Alcohol and Marijuana Control Office (AMCO) since 2019, was given the job on a permanent basis. Klinkhart’s installment as full-time AMCO chief was made official Monday by Gov. Mike Dunleavy. The governor appointed Klinkhart as interim director of the agency in November 2019. Klinkhart, who Alaska’s interim cannabis chief gets permanent appointment is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness […]

  • These states could legalize cannabis next in 2021
    by Chris Kudialis on March 2, 2021 at 4:39 pm

    New Mexico and New York are next in line, but Pennsylvania is moving fast. The post These states could legalize cannabis next in 2021 appeared first on Leafly.

  • Canada Revenue Agency has fined cannabis firms CA$1.3 million since adult-use market launch
    by Matt Lamers on March 2, 2021 at 2:00 pm

    The Canada Revenue Agency (CRA) has issued cannabis-related fines totaling 1.3 million Canadian dollars ($1 million) since adult-use marijuana was legalized in October 2018, Marijuana Business Daily has learned. The nearly two-dozen penalties for violations of the Excise Act include one large levy of approximately CA$500,000, according to the CRA, which collects taxes and administers Canada Revenue Agency has fined cannabis firms CA$1.3 million since adult-use market launch is a post from: […]

  • Marijuana cultivators should rethink how they measure water use, new report says
    by Andrew Long on March 2, 2021 at 11:30 am

    As demand for water increases and the supply remains limited, marijuana cultivators might need to change the way they think about and measure their use of this precious resource, according to a new report compiled by three organizations. Early efforts quantified facility water use by focusing on gallons per plant. But that model doesn’t take Marijuana cultivators should rethink how they measure water use, new report says is a post from: Marijuana Business Daily: Financial, Legal & […]