The potential of medical marijuana is widely known, not only in Canada and the U.S., but also globally. Many patients find that medical cannabis has helped them with certain health issues where conventional medicine has failed, including chronic pain, post-traumatic stress disorder (PTSD), Crohn's disease, and anxiety.
As an increasing number of states reduce the penalties for the possession and use of marijuana, a new movement to legalize the plant slowly gains momentum. Only this time, people aren’t merely advocating health and recreational benefits, but economic growth as well.
After being fired from his last two jobs, Canadian entrepreneur Bruce Linton is back with a new venture and a new goal: to disrupt the industrial supply chain.
Known as slotting fees, the practice requires brands to pay anywhere from $500 to $15,000 a month for premium space on cannabis retailers' shelves.
As more brands enter the marijuana products marketplace, competition for retail shelf space in key adult-use markets such as Colorado and Washington state is intensifying.
National consultations on the cultivation of cannabis for domestic use and export are taking place in Saint Lucia, as the Caribbean country debates plans to diversify its agricultural industry. Saint Lucia is among an ever-shrinking group of countries in the Caribbean that have yet to enact cannabis reforms, either decriminalization or legalization for medical or adult use.
Canadian and U.S. cannabis companies are facing a spike in already high costs of insurance to protect top executives from personal liability, following a slew of lawsuits by disgruntled investors alleging fraud and misinformation, with more such action expected.
Some of the biggest cannabis companies, including Medmen Enterprises, Canopy Growth, CannTrust Holdings, Aphria Inc and Columbia Care, have faced shareholder litigation, accusing leaders of false claims, failing to act in the interest of all shareholders and attempts to defraud investors.
Illinois marijuana dispensaries sold more than $47.6 million worth of products in June, according to the Illinois Department of Financial and Professional Regulation.
During that time, 994,545 items were sold, averaging almost $48 per purchase, not including taxes. Tax figures will be released later this month by the Illinois Department of Revenue.
Those sales figures will likely lead to another record in tax revenue for the state, as well.
2020 has not lived up to expectations for the global cannabis industry and much of the blame can be attributed to COVID-19. Going forward, we believe that the industry is poised to record growth as lockdown orders start to get lifted in provinces across Canada and in the European Union (EU).
The cannabis industry is booming. Sales for state-legal cannabis businesses are projected to reach close to $30 billion by 2025. Yet most of these businesses are still reliant on cash to run their business. And that can cause a lot of trouble.
But digital payments — and FinTech companies like AeroPay — have the opportunity to disrupt this long underserved industry. Here’s how:
Hemp breeding is big business, and as such, companies who invest in breeding programs are also investing in protections.
With the hemp boom upon us, plant scientists have turned their attention to creating new and innovative hemp cultivars. The focus is on varieties for specific climates, special disease or environmental resistance, or unique cannabinoid profiles.
