Marijuana M&A activity spikes as some cannabis pioneers cash out
Merger and acquisition activity is accelerating across the cannabis industry as more companies land multimillion-dollar capital infusions and ink deals aimed at growing market share.
The momentum is giving more company founders an opportunity to cash out at an attractive price or leverage the deals to launch their next venture. The flurry of activity is a strong signal that the legal marijuana market is maturing as the industrys early pioneers begin to exit.
As the first half of 2018 came to an end, more than 145 mergers and acquisitions had been announced since Jan. 1, ....
Its a big day. July 1, 2018 will go down in Vermonts history as the day the state officially stopped punishing adults for consuming marijuana.
Residents of Vermont are seeing the fruits of our movements tireless efforts to reform harmful and ill-conceived marijuana laws. Adults can now legally possess, consume, and grow limited amounts of marijuana. Read our summary of the law here.
MPP was a primary driving force behind this victory and were currently on the front lines of legalizing marijuana in many other states, too.
Days like these are powerful reminders of what we....
Nevada: Traffic Deaths Drop Over 10 Following Marijuana Legalization
Contrary to prohibitionist rhetoric, traffic deaths in Nevada dropped over 10 in the first year following the legalization of marijuana.
According to data collected and released by the Nevada Department of Public Safety, 277 people died in car crashes between July, 2017 and May 2018. This is a 10.6 percent decrease from the same period a year prior; 310 people were killed in traffic accidents between July 2016, and May, 2017.
Marijuana officially became legal in Nevada on January 1, 2017. Legal marijuana sales began half a year later, on July 1. The law allows anyone 21 and older to possess marijuana, and purchase it from a licensed retail outlet.
According to the Nevada Department of Taxation, there was....
Vermont: Law Legalizing Adult Marijuana Use Takes Effect Sunday, July 1
Adults in Vermont will be able to possess and grow personal use quantities of cannabis legally under state law, beginning this Sunday, July 1.
Vermont joins Alaska, California, Colorado, the District of Columbia, Maine, Massachusetts, Nevada, Oregon, and Washington in legalizing the adult possession and use of marijuana. It is the first state to enact legalization via an act of the legislature rather than by the passage of a voter initiative.
The majority of Vermonters, like the majority of the American public, desire to live in a community where responsible adults who ch....
Delaware House majority votes to legalize cannabis, but bill fails
On the evening of June 27, the Delaware House of Representatives voted 21-15 with five not voting to legalize, tax, and regulate marijuana for adults. This was only the third time that the majority of a state legislative chamber voted to legalize and regulate marijuana
Unfortunately, however, a majority was not enough. A three-fifths supermajority 25 votes is required for any Delaware bill that includes taxes and fees.
While we are disappointed that this will not be the year Delaware legalizes marijuana, together weve made tremendous progress. This is an election year, ....
July 1 could be extinction event for some California cannabis businesses
Starting July 1, licensed operators in Californias marijuana market must be in compliance with the states readopted and updated emergency regulations.
Retailers will no longer be able to sell product that hasnt passed testing lab standards mandated by regulators.
They were given six months to exhaust their supplies of cannabis products made before the new requirements, and the deadline is now looming.
July 1 might even prove an extinction event for businesses struggling to comply, observed Pamela Epstein, founder of Los Angeles-based Green Wise Consulting.
Senate Democratic Leader Introduces Far-Reaching Marijuana Descheduling Bill
Senate Minority Leader Chuck Schumer, along with Senators Bernie Sanders, Tim Kaine, and Tammy Duckworth, just introduced legislation, the Marijuana Freedom and Opportunity Act, to remove marijuana from the Controlled Substances Act and to provide funding for the expungement of criminal records for those with past marijuana convictions.
Passage of descheduling legislation is necessary to resolve the existing and ever-growing state/federal divide over marijuana policy. Thirty-one states regulate medical marijuana use and nine states regulate the plants use, production, an....
Marijuana prohibition is history in Canada. Last night, after months of negotiations, Parliament approved a bill to legalize, regulate, and tax marijuana for adults. After one formality Royal Assent Canada will become the second nation to end marijuana prohibition and the first G7 country to do so.
Regulations vary by province, but most set age limits at 18 or 19 to match the legal age for alcohol and tobacco in Canada. Once the law takes effect, adults can possess up to 30 grams and grow up to four plants in their homes. Read more about this historic legislation.
Congressional Committee Declines to Approve Cannabis Banking Regulations
A congressional committee decided against amending banking rules for the cannabis industry.
If enacted, the new regulations would have prevented the U.S Department of Treasury from attempting to penalize a financial institution solely because the institution provides financial services to an entity that is a manufacturer, producer, or a person that participates in any business or organized activity that involves handling marijuana or marijuana products in compliance with state and local law.
After considerable debate, the House Appropriations Committee rejected the regula....
California Senate Approves Bill to Establish Marijuana Banks and Credit Unions
Legislation that would allow for the creation of a special class of state-chartered banks and credit unions that could service Californias legal marijuana industry has been passed by the full Senate.
The status quo for our growing legal cannabis industry is unsustainable, says SenatorRobert Hertzberg D, who filed Senate Bill 930. Its not only impractical from an accounting perspective, but it also presents a tremendous public safety problem. This bill takes a limited approach to provide all parties with a safe and reliable way to move forward on this urgent issue.
The measure was approved by the full Senate yesterday in a 29 to 6 vote. The vote sends the bill to the House of Representatives, where passage would send it to the desk of Governor Jerry Brown.
Oregon marijuana prices plummet due to massive oversupply
Oregons marijuana consumers are currently enjoying historically low prices, but the future of the states small businesses have become uncertain.
The states marijuana prices have fallen dramatically as the legal market has produced a considerable surplus of products, reports CBS News.
A study by the states Office of Economic Analysis found that the average price of a gram fell by more than 50 percent in the past year, from $14 in 2015 to $7 in 2017. Oregon currently carries nearly 1 million pounds of marijuana to serve over 4 million people.
Data from the Oregon Liquor Co....
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