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News Daily
‘Inundated’ CA credit union suspends new applications from cannabis firms
February 22, 2019
A small credit union in Sonoma County, California, is hitting pause on processing applications for marijuana companies because it’s trying to deal with a backlog of cannabis businesses clamoring for financial services. Since word spread in the marijuana industry that North Bay Credit Union has been working with MJ companies for the past year, the […]
John Schroyer
Ontario’s lousy adult-use cannabis sales decline again; Canada sees modest growth
February 22, 2019
Ontario was the only province in Canada to see lower month-over-month sales of adult-use cannabis in December, according to the latest Statistics Canada data – the latest sign that the provincial government continues to struggle to get a handle on the new industry. Sales in Ontario dropped to just 8.7 million Canadian dollars ($6.6 million) […]
Matt Lamers
Green Thumb acquires marijuana products brand Beboe
February 22, 2019
Green Thumb Industries of Chicago has closed its acquisition of Los Angeles-based For Success Holding Co., owners of the Beboe marijuana products brand. The value of the deal, described as “nonmaterial” by Green Thumb, was not disclosed. For Success and Beboe were co-founded by fashion industry executive Clement Kwan and tattoo artist Scott Campbell. Green […]
Nick Thomas
Major Canadian pension fund loads up on cannabis stocks
February 22, 2019
One of Canada’s biggest pension managers increased its stake in Canopy Growth and took positions in three more Canadian cannabis companies recently, giving a vote of confidence to long-term value for investors in the booming industry. The Public Sector Pension Investment Board (PSP) – with 153 billion Canadian dollars ($130 billion) of net assets – disclosed it […]
Matt Lamers
MA blames cannabis retailer, not traceability system, for product shortage
February 22, 2019
Massachusetts’ marijuana czar disputes a claim by a Salem cannabis retailer this week that flaws in the state’s traceability system caused the store to run out of flower. Steven Hoffman, chair of the state’s Cannabis Control Commission, said the problem stemmed from an error made by Alternative Therapies Group (ATG), which incorrectly logged its inventory, The Boston […]
Bart Schaneman
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