U.S. medical cannabis tech company plans to open China office

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Net Savings Link Inc. said its cannabis division will open an office in Shanghai, China, next month to expand its medical marijuana technology business into the world’s most populous country.

The company, based in Cresco, Pennsylvania, said in a news release it is moving into China because it sees a sizable opportunity there.

China is the world’s largest producer of cannabis sativa seeds, producing nearly 40% of the world’s supply, according to Net Savings Link, which trades on the…

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Cannabis-centric ETF begins trading on Toronto Stock Exchange

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A marijuana exchange-traded fund – billed as the world’s first – began trading on the Toronto Stock Exchange on Wednesday, the latest sign the cannabis industry is becoming more of a mainstream sector.

The newly launched Horizons Medical Marijuana Life Sciences ETF packages the stocks of 14 marijuana-related businesses into one security, CBC News reported. The Canadian unit of Horizons ETFs Management oversees the ETF.


Mirth ProvisionsAn exchange-traded fund owns and tracks certain assets and,…

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Another Canadian medical cannabis producer goes public

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Adding to a growing trend among licensed Canadian medical marijuana producers, Hydropothecary Corp. went public Tuesday.

The Quebec-based company started trading on the TSX Venture Exchange after completing a reverse takeover with BFK Capital Corp. last week, the Financial Post reported.


Spring 2017 MJBizConHydropothecary shares opened at 1.82 Canadian dollars ($1.36) and closed at CA$1.55 ($1.16) on Tuesday, according to the Post.

An analyst quoted by the Post estimated Hydropothecary will have an initial…

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Aussie medical cannabis company raises AU$10 million

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Australian medical marijuana firm MGC Pharmaceuticals raised 10 million Australian dollars ($7.7 million) to foster development of MMJ products and purchase other companies

According to Business Insider Australia, the medical grade cannabis company will use the funds for clinical trials and research and development involving pharmaceutical-grade MMJ products.


Spring 2017 MJBizConThe company is also seeking acquisition prospects at home and abroad in the MMJ industry, Business Insider Australia reported.

MGC…

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Cannabis grow-equipment company completes $1M-plus raise

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Another Denver-based company connected to the marijuana trade revealed this week it has completed a $1.65 million round of fundraising.

GrowGeneration Corp., an ancillary business that specializes in gardening supplies for commercial and home grows, told the Denver Business Journal it secured the funds in equity financing from Merida Capital Partners, “a cannabis infrastructure fund.”


Spring 2017 MJBizConGrowGeneration is the second Denver-based firm this week to announce a capital raise of over $1 million. Baker, a cannabis software business, raised $1.6…

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Global standards group launches cannabis committee

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ASTM International, a 119-year-old organization that develops voluntary standards for a long list of items ranging from children’s toys to aircraft, plans to add cannabis to that list.

For the most part, the cannabis industry has lacked developed product standards. That could now change, another sign that cannabis is becoming more of a mainstream product.

According to the Denver Post, ASTM International launched a committee earlier this week to discuss and develop standards for personnel training, cultivation and security in the…

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Week in Review: White House threat, CA growers at risk & unique cannabis investment fund

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By John Schroyer

The Trump administration hints at possible enforcement on recreational cannabis businesses, thousands of Northern California cultivation jobs are in jeopardy, and a new marijuana investment fund is in the works.

Here’s a closer look at some notable developments in the marijuana industry over the past week.

White House signals potential crackdown

The cannabis industry erupted when the White House press secretary on Thursday intimated the recreational market could be in for a serious fight.

During a news conference, Press…

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Investment company planning exchange-traded cannabis fund

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ETF Managers Group, a New Jersey-based investment company, plans to launch an exchange-traded fund that would track publicly traded cannabis companies.


Spring 2017 MJBizConThe ETF Managers Group is proposing the Emerging AgroSphere ETF, which could be a first for the cannabis industry, Reuters reported.

An exchange-traded fund owns and tracks certain assets and, unlike a mutual fund, can be traded like a regular stock.

The Emerging AgroSphere ETF would own stocks in cannabis-related companies that make prescription drugs using marijuana extracts as well as…

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MJ social media firm examines cross-listing on Canadian exchange

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MassRoots CEO Isaac Dietrich revealed Monday during a shareholder conference call that the Denver-based social media company is exploring a public listing on a Canadian stock exchange.

MassRoots currently trades on the over-the-counter market. Monday’s announcement follows the Denver company’s failed attempt to be listed on the Nasdaq Stock Market last year.

“We’re evaluating exchanges right now,” Dietrich told shareholders. “The (Toronto Stock Exchange) did have to approve Aphria’s investment in MassRoots last fall, so…

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Marijuana company’s new stock symbol: WEED

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Investors can now buy and sell WEED on the Toronto Stock Exchange after Canopy Growth Corp., a major federally licensed cannabis cultivator in Smith Falls, Ontario, changed its ticker symbol to the new, slangy version.

The move comes after the company made history last summer when it became the first marijuana cultivator to list on a major North American exchange.

Canopy announced its switchover from ticker symbol CGC on Wednesday and rang in its new era that morning by opening the TSX’s daily trading session.


Spring 2017 MJBizConBruce Linton, the company’s…

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Canadian company partners with AZ medical marijuana dispensaries

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In what is a possible international first, a Canadian company has announced it will operate a pair of dispensaries in Arizona through a recently acquired management firm.

The deal, which cost the Canadian Bioceutical Corporation $27 million dollars (CA$35.5 million), also gives the the company ownership of a natural health products company, CGX Life Sciences, as a subsidiary, as well as the rights to license intellectual property from Melting Point Extracts, another Arizona-based medical marijuana company.


Spring 2017 MJBizConThe Canadian corporation, which…

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MassRoots receives $2M in proceeds from warrant exercise

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MassRoots, the popular social network for cannabis enthusiasts, said it has received more than $2 million in cash from the exercise of warrants so far in 2017, providing additional financial stability to the once-wobbly Denver company.


Precision Extraction Solutions“This capital infusion will help us continue building momentum with the success we are having within the rapidly emerging legal cannabis industry,” MassRoots CEO Isaac Dietrich said in a news release. “We can now better focus our attention toward increasing revenue, expanding our market presence and…

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MassRoots, MJ Freeway team on menu pricing for dispensaries

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MassRoots and MJ Freeway announced a partnership under which MJ Freeway’s technology will enable live online menu pricing for its dispensary clients via the MassRoots platform.

The deal is similar to a recent one struck between MJ Freeway, a Denver-based seed-to-sale tracking company, and the online retail guide Weedmaps.


Marijuana Business License Directory“This partnership will enable seamless communications between MJ Freeway’s thousands of dispensary clients and MassRoots’ community of hundreds of thousands of cannabis consumers,” MassRoots CEO Isaac…

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Marijuana-focused firm gets tepid response in NYSE debut

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Innovative Industrial Properties became the first marijuana-related company Thursday to trade on the New York Stock Exchange, drawing a lukewarm reception from Wall Street investors.

The cannabis-focused real estate investment trust (REIT) closed down 4.25%. Trading under the ticker symbol IIPR, it finished the day at $19.15 per share, or 85 cents below its initial offering price of $20. The company’s shares briefly touched $20.52 after the opening bell but then dropped throughout the day.


Marijuana Business License DirectoryThe company, headquartered in San Diego but…

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Helix TCS becomes largest single shareholder in MJ software firm

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Colorado-based Helix TCS, which has been expanding its holdings in the marijuana trade, announced Monday it has become the largest shareholder in Florida-based BioTrackTHC, a longtime manufacturer and supplier of seed-to-sale cannabis tracking software.

Specific terms of the deal were not disclosed.

Helix and its capital partner, Rose Capital Advisors of Miami Beach, agreed to purchase the shares from BioTrackTHC founders Steven Siegel and Brian McClintock for a combination of cash and stock, making Helix and Rose the largest BioTrackTHC…

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Zacks Investment: 4 best stocks to cash in on MJ ‘green rush’

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The decades-old Zacks Investment Research is recommending four “cannabist-related” companies – including some household names – for stock investors wanting to cash in on the so-called marijuana “green rush.”

The stock research firm, founded in 1977, projects that Tuesday’s election will yield yes votes in several states where marijuana legalization initiatives are on the ballot.


Conference Deadline Approaching“This is reminiscent of 1933, when drinking cold beer after work was made legal,” according to an “analyst blog” on the Zacks website….

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Another Canadian MMJ cultivator plans to go public

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Canadian medical cannabis producer Emblem is set to go public next month on the TSX Venture Exchange, the electronic exchange owned by the parent of the Toronto Stock Exchange.

The Ontario company is the latest federally licensed medical marijuana cultivator to list its shares on an exchange, thanks to Canada’s legalized MMJ industry.

Emblem President John Stewart told MoneyShow.com the IPO will come out next month and trade under the symbol EMC. Stewart said the company hasn’t yet priced the offering but that it’s likely to fall…

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Week in Review: San Diego crackdown, WA eyes organic MJ & Britain says yes to CBD

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By Bart Schaneman and John Schroyer

San Diego targets illegal dispensaries while educating consumers about legit operations, Washington State has an eye toward organic certification, and Britain gives CBD the medicinal green light.

Here’s a closer look at some notable developments in the marijuana industry over the past week.

San Diego: First of many crackdowns?

San Diego has teamed with a coalition of licensed medical cannabis businesses to crack down on illegal MMJ storefronts and, perhaps more important, to educate consumers about which…

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MassRoots pays off March debt of nearly $1M

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MassRoots, the publicly traded cannabis-centric social media site, said Friday it has repaid its creditors after disclosing last month it had missed nearly $1 million in payments that were due to holders of its convertible notes.

“We’re excited to have this debt fully repaid and behind us. We expect MassRoots will be cash-flow positive on a monthly basis by the end of the year,” MassRoots CEO Isaac Dietrich said in a news release filed with the Securities and Exchange Commission.


License Directory SidebarThe Denver company said last month it had missed some…

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Week In Review: MassRoots’ Woes, GW Pharma’s Good News & Pro-Legalization Polls

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By Omar Sacirbey and John Schroyer

MassRoots lands in financial hot water, GW Pharmaceuticals takes a step closer to winning U.S. approval for its marijuana-based drug, and a political veteran urges caution heading into the elections.

Here’s a closer look at some notable developments in the marijuana industry over the past week.

MassRoots in Hot Water?

That’s the assessment of Nic Easley, the CEO of Denver’s 3C Consulting. He looked closely at the company’s situation following news that the cannabis-themed social network failed to…

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GW Pharma’s Latest Clinical Trial Successful, Stock Soars

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British cannabis company GW Pharmaceuticals has conducted a successful clinical trial in which it treated epileptic children with one of its marijuana-based drugs, triggering a surge in the company’s stock price.

According to Reuters, tested doses of GW Pharmaceutical’s drug Epidiolex “were found to have induced a statistically significant improvement in reducing seizures” in patients with a particular type of epilepsy during phase III clinical trials.

License Directory SidebarOn Monday, after news of the trials broke, the publicly traded company’s stock…

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Medical Marijuana Inc. Partners With CannaNative on CBD Product

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California-based Medical Marijuana Inc. and Native American company CannaNative have put together a hemp-derived CBD product line to be sold on tribal lands.

The companies said in a news release Monday that Medical Marijuana Inc. and its HempMeds subsidiary will produce the product line, which will be sold under the CannaNative brand.

It will be offered at tribal wellness centers, native doctor’s offices, pharmacies, and dispensaries on tribal lands. It is “intended to help the more than 560 U.S. tribal nations develop hemp- and…

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CO Online Wholesaler Partnering With Cannabis Software Firms

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Colorado-based online wholesale platform Cannabase has entered into an exclusive partnerships with seed-to-sale tracking software companies MJ Freeway and BioTrackTHC.

The partnership, announced by the companies, will bring new weight to Cannabase’s pricing and inventory information, given that it will now be backed by MJ Freeway’s and BioTrackTHC’s data. In a news release, Cannabase said the arrangement would provide:

  • Streamlined buying and selling transactions to deliver real-time instantaneous execution and real settlement
  • Improved…

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Canadian MJ Grower to List on Major Stock Exchange

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In what could be a first in both the cannabis industry and stock market history, a large marijuana cultivation company will list on a major North American stock exchange.

Canopy Growth Corp., one of Canada’s biggest licensed medical marijuana companies, started trading on the Toronto Stock Exchange (TMX) Tuesday under the ticker symbol CGC, according to Bloomberg.

“The addition of Canopy Growth helps signal that the world’s view of cannabis has finally shifted, starting right here in Canada,” said Canopy CEO Bruce Linton in a…

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Australian MMJ Company Aims to Raise $4M for Human Trials

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A publicly traded Australian pharmaceutical and biotech company which recently entered the medical marijuana sector aims to raise about $4.1 million (AUS $5.4 million) to support MMJ trials on human subjects.

If successful, Medlab Clinical plans to spend the money to accelerate a program of human trials of cannabis-based pain management therapy for cancer patients at one of Australia’s top oncology research hospitals, Business Insider Australia reported.

According to Medlab’s filing with the Australian Securities Exchange, the company…

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