Marijuana Business News

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Sun
01
Mar

Can DC Cash In On Marijuana Despite Congress' Chokehold?

by Kiley Kroh Posted on March 1, 2015 at 1:32 pm Updated: March 1, 2015 at 2:38 pm

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"D.C. Residents Won’t Let Congress Blunt Their Enthusiasm For Legal Pot Business"

Sun
01
Mar

Washington State Limitations on Early Stage Cannabis Business

A couple of recent events have us thinking about the different ways retailers and cultivators are doing business in the cannabis market. First, a few of our clients have asked us about situations involving groups of retailers banding together to negotiate with producers and vice versa ­— groups of producers teaming up to negotiate prices and supply contracts with retailers. Then, Washington’s Liquor Control Board released emergency rules that, among other things, severely limited the ability of Washington marijuana businesses to enter into standard sales agreements. How are these things connected?

Sun
01
Mar

No Green Thumb? Your 7 Best Legal Cannabis Startup Opportunities

Some may not like it, but legal cannabis is big businessalready — a $700 million business last year in Colorado alone, Viridian Capital & Research reports. With two more states legalizing in 2014, and an estimated seven to 13 additional states that will contemplate legalization this year, this is a market niche that’s set to take off.

Sure, there are risks galore. Viridian cites inexperienced management, lack of a federal banking green light, risk of legal prosecution, pricing pressure, and too much debt as problems that will likely cause an industry shakeout this year.

Sun
01
Mar

Medical marijuana industry competing for limited pool of investment dollars

VANCOUVER -- The free-for-all era of Canada's commercial medical marijuana industry is over as a new crop of growers try to woo scarce investment dollars in an increasingly competitive business, observers say.

Boris Ziger, CEO of Matica Enterprises Inc., said the short-lived days of unbridled growth ended soon after last year's change in federal regulations that shifted medical-marijuana production to commercial enterprises from patients growing their own pot.

He said the stock market went "absolutely crazy" in the spring of 2014 as various companies began branding themselves as pot producers in hopes of cashing in on what was really "irrational exuberance you hear about in business school."

Sun
01
Mar

Medical marijuana grower with track record wants to cultivate pot in Central New York

Syracuse, N.Y. - The first U.S. public company allowed to raise money on the stock market to produce and sell medical marijuana wants to grow pot in Central New York.

Terra Tech Corp., of Irvine, Calif., plans to apply for a state license to cultivate and dispense medical marijuana in New York, said Derek Peterson, the company's CEO.

"We're looking at Central New York for cultivation," Peterson said. "If you want a retail footprint around the state, you want cultivation and production centrally located adjacent to major arteries to provide access to all the retail locations."

The company has not picked a Central New York location yet, he said. Peterson said dispensaries would be scattered around the state in places such as Ithaca, Albany, Manhattan and Brooklyn.

Sat
28
Feb

60 tribes gather in Tulalip to talk marijuana

Tribal leaders, lawyers and marijuana-industry representatives gathered in Tulalip for the nation’s first tribal marijuana conference, an event that served as much as a policy debate on the merits of legalization as it did an educational session.

Hundreds of tribal leaders, lawyers and marijuana-industry representatives gathered in Tulalip on Friday for the nation’s first tribal marijuana conference, an event that served as much as a policy debate on the merits of legalization as it did an educational session.

More than 60 tribes from at least 25 states were represented, said Erica Curnutte, who organized the event.

Sat
28
Feb

Legalization prompts potential entrepreneurs to learn about the business of marijuana

WASHINGTON — Now that marijuana is legal in the nation’s capital, prospective pot entrepreneurs gathered in a daylong conference Saturday to learn about the business of pot.

“We teach people how to grow, we teach regular citizens and potential dispensary owners and current dispensary owners on how to grow their own cannabis,” says David DeGraff, CEO of the Denver-based “Grow School.”

Business-minded people swarmed exhibitors’ tables like that of the Grow School and Montgomery Hydroponics.

“We have everything you would need for indoor gardening, HPS, high pressure sodium, hydroponic soil, whatever you wish,” says Daniel Sims, the owner of the Montgomery County based firm, Montgomery Hydroponics.

Some of Sims’ LED grow lights sell for $349 each.

Sat
28
Feb

Colorado Marijuana Businesses Growing Less Than They Could

Colorado's marijuana industry is producing a lot less than it could, according to a state report released Friday.

Although state laws limit how many plants a business can cultivate, the monthly average for medical marijuana businesses last year ranged from a third to about half of what they could have produced, according to the annual update released Friday by the marijuana enforcement division of the Department of Revenue. The division estimates retail cultivation averaged 40 percent or less of the production limit.

Other highlights of the report:

-- Of Colorado's 312 cities and towns, 228 prohibit medical and retail licenses. Still, the places that allow sales include the state's population centers, among them Denver, the capital.

Sat
28
Feb

First Tribal Marijuana Conference Creates a Buzz in Indian Country

The first Tribal Marijuana Conference featured a variety of quality speakers from all avenues, to discuss a wide-range of issues associated with embarking on marijuana cultivation on reservation lands. Seen as the next economic windfall for tribes, but for one it’s a roll of the dice.

RELATED: Groundbreaking Conference to Discuss Legalizing Marijuana in Indian Country

Troy Eid, a former United States Attorney now in private law practice in Denver, Colorado, chair of the Indian Law and Order Commission, was on of several from across Indian country in attendance.

Fri
27
Feb

Secret Marijuana Farm Beneath Brooklyn Cherry Factory Leaves Many Mysteries

Dell’s Maraschino Cherries Company in Brooklyn in 2009. Officials discovered this week that its chief was growing marijuana in the basement. By VIVIAN YEE February 26, 2015

Arthur Mondella’s alternate life was buried behind a roll-down gate, behind a fleet of fancy cars, behind a pair of closet doors, behind a set of button-controlled steel shelves, behind a fake wall and down a ladder in a hole in a bare concrete floor.

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