Business

LOS ANGELES- LEEF Brands Inc. , a California-based cannabis extraction and manufacturing company, has successfully closed the second tranche of its private placement financing, securing an additional CAD $500,000. This follows the first tranche, which raised CAD $2,118,375, bringing the total gross proceeds to CAD $2,618,375, surpassing the initial target. The financing involved issuing 2,000,000 ...

LOS ANGELES--At Procter & Gamble (P&G), we were taught to analyze financial statements with precision, breaking them down into actionable insights that link business performance to strategy. Cannabis companies can apply these same principles to their financial management, as cannabis is fundamentally a consumer packaged goods (CPG) product. Here’s a practical guide using Tide, one ...

LOS ANGELES- Aurora Cannabis Inc. has announced a distribution partnership between its wholly owned subsidiary, MedReleaf Australia, and The Entourage Effect, a company that provides distribution and support services to pharmacies in Australia. Under this agreement, The Entourage Effect will act as a wholesaler for MedReleaf Australia's product lines, including CraftPlant, Aurora, and IndiMed brands. ...

LOS ANGELES- Co-founders Doug Francis and Justin Hartfield of WM Technology, Inc., the parent company of Weedmaps, have proposed to take the company private. They offered $1.70 per share in cash for the approximately 68% of shares they do not currently own, valuing the company at about $100 million. This proposal represents a 39% premium ...

LOS ANGELES--Hydroponics, the practice of growing plants in a water-based, nutrient-rich solution rather than soil, has become increasingly popular among cannabis cultivators. This method offers several advantages, particularly when it comes to optimizing growth, enhancing yields, and improving the overall quality of cannabis plants. In this article, we’ll explore the key benefits of using hydroponics ...

LOS ANGELES--The hydroponics industry is experiencing unprecedented growth worldwide, driven largely by its increasing adoption in the cannabis sector. As cannabis legalization expands across continents, cultivators are turning to hydroponic systems to meet the demand for high-quality, sustainable, and efficient crop production. This article explores the factors contributing to the global rise of hydroponics in ...

WASHINGTON, D.C- (NORML) Federally funded survey data provided by the University of Michigan reports that teen marijuana use has declined significantly over the past decade and is now at historic lows. Consistent with data previously reported by the Centers for Disease Control and Prevention and the National Survey on Drug Use and Health, the University of Michigan’s annual Monitoring the Future ...

LOS ANGELES- Organigram Holdings Inc., a Canadian cannabis producer, is actively broadening its market reach through strategic investments and acquisitions, supported by British American Tobacco (BAT). In November 2023, Organigram secured a follow-on strategic equity investment of approximately CAD 124.6 million from BT DE Investments Inc., a wholly-owned subsidiary of BAT. This investment is being ...

NEW YORK--Every CFO needs to know that Section 280E of the Internal Revenue Code (IRC) presents a significant challenge for cannabis businesses operating in the United States. This provision, enacted in 1982, was originally designed to prevent drug traffickers from claiming tax deductions. However, its implications have far-reaching effects on legal cannabis operations today, as ...

NEW YORK-The cannabis industry has seen impressive growth over the last decade, but the landscape has become more challenging as businesses face regulatory hurdles, tax burdens, and market saturation. Despite these obstacles, cannabis companies can still raise capital by employing strategic planning, maintaining strong investor relations, and tapping into creative funding avenues. In this article, ...

LOS ANGELES--The regulatory landscape for cannabis in the United States has changed significantly since the passage of the 2018 Farm Bill, which legalized the cultivation of hemp and its derivatives. This legislation inadvertently created a loophole that allows companies to market and sell hemp-derived products, including those containing psychoactive cannabinoids like delta-8 THC, even in ...

LOS ANGELES- Wow...2024 flew by but left a lot of casualties as the emerging market of cannabis, continues its emergence in 2024. Here's what went down in case you were away from your desk: January The year started with momentum as cannabis companies ramped up efforts to address price compression and regulatory challenges. The opening ...

WASHINGTON, D.C.–The debate over cannabis' federal classification is set to intensify as the DEA prepares for pivotal hearings on its status under the Controlled Substances Act. DEA Administrative Law Judge John Mulrooney has announced that witness testimony will commence on Tuesday, January 22, 2025. The hearings are scheduled to run every Tuesday, Wednesday, and Thursday ...

LOS ANGELES- Portugal is positioning itself as a significant player in the medical cannabis industry, leveraging its favorable climate and regulatory framework to boost production and exports. In 2023, the country exported nearly 12,000 kilograms of cannabis-based medical products, marking a substantial increase from the previous year. The Portuguese government has authorized over 60 companies ...

LOS ANGELES- The U.S. Hemp Roundtable, a leading advocacy organization for the hemp sector, has strengthened its leadership by appointing two prominent figures from the hemp beverage industry. In September 2024, Art Massolo, Vice President of Business Development at Cycling Frog, assumed the role of Executive Vice President, while Aaron Nosbisch, founder of BRĒZ, was ...

LOS ANGELES- In July 2024, Illinois marked a significant milestone by opening its 100th social equity-owned cannabis dispensary, underscoring the state's commitment to fostering diversity within the industry. A comprehensive study by the Cannabis Regulation Oversight Office revealed that 60% of all adult-use cannabis licenses have been awarded to minority- or women-owned businesses, positioning Illinois ...

TORONTO—It didn’t have to be this way. I mean, in spite of what so many whinge and whine about, Canada had a lot to leverage. Canada is pretty big, with a population of about 40 million Canada is pretty vibrant, with a GDP of about $5.8 trillion Canada is relatively affluent, with a median disposable ...

LOS ANGELES- Climate First Bank, headquartered in Orlando, Florida, has introduced specialized banking services tailored for the cannabis industry. This initiative aims to address the financial challenges faced by cannabis businesses, particularly in accessing traditional banking services. The bank's offerings include deposit accounts, cash management, and lending solutions, all designed to comply with federal and ...

LOS ANGELES—As a founding member of the Cannabis Open Standards Technology Alliance (COSTA), Breadstack has firmly established itself as a trailblazer in cannabis e-commerce. Based in Canada, the company has risen to meet the unique challenges of an increasingly evolving industry, offering dispensaries the tools and strategies they need to thrive. By focusing on innovative ...

LOS ANGELES- LeafLink, a cannabis wholesale platform, has acquired Leaf Trade, a wholesale marketplace serving multi-state operators (MSOs) and enterprise cannabis companies. This strategic move aims to streamline operations for cannabis businesses of varying scales. The combined entity is projected to facilitate approximately $9 billion in annual gross merchandise value (GMV). Initially, both platforms will ...