Connect with us

Marijuana Business Daily

Cronos Group pumps $51M into joint venture to expand cannabis production

Published

on


Canadian cannabis producer Cronos Group is funding its joint venture, Cronos Growing Co., with a $51 million ($70 million Canadian dollars) secured credit line to expand operations to meet increased global demand.

As part of the transaction, Cronos will appoint three new members to the GrowCo board on July 1, according to a press release issued Thursday.

ADVERTISEMENT

Under a new supply agreement, Cronos will have the option to purchase up to 70% of total production from the expanded facility.

“This investment enables GrowCo to increase its production of high-quality cannabis, which supports our ambition to expand across the markets we operate in and add new international growth opportunities where they arise,” Cronos Chair and CEO Mike Gorenstein said in a statement.

GrowCo intends

Read full article on Marijuana Business Daily



Source link

Continue Reading

Marijuana Business Daily

President Trump will decide marijuana rescheduling, federal reform

Published

on

By


Did Donald Trump mean it when he said he wanted marijuana reform – and will the former and current president follow through?

With the marijuana rescheduling process paused indefinitely – its future is at the mercy of Trump’s future choice to lead the U.S. Drug Enforcement Administration – and Republicans in Congress mostly bent to the once and current president’s will, nothing less than the future of the $32 billion marijuana industry depends on the answer.

ADVERTISEMENT

Trump made history in September when he became the first major-party presidential nominee to endorse a state adult-use legalization campaign.

Though Trump’s backing of Florida’s Amendment 3 – some critics say his endorsement was mostly spurred by his acrimonious relationship with Florida Gov. Ron DeSantis – didn’t

Read full article on Marijuana Business Daily



Source link

Continue Reading

Marijuana Business Daily

Farming techniques could boost CBD, hemp study infers

Published

on

By


A new study on hemp microorganisms could ultimately help researchers, scientists and growers boost production of CBD and other valuable compounds such as terpenes.

The University of Houston study – titled “Microbiome diversity and variations in industrial hemp genotypes” and published in Nature magazine – examined communities of microbiomes living in and around the roots and leaves of four types of hemp plants.

ADVERTISEMENT

University of Houston researchers compared how those microorganisms differ between hemp grown for fiber and hemp grown for CBD production.

“Understanding these microorganisms can also lead to more sustainable farming methods, using nature to boost plant growth instead of relying heavily on chemicals,” Waqar Ahmad, an author of the study and doctoral student of lead researcher Abdul Latif Khan,

Read full article on Marijuana Business Daily



Source link

Continue Reading

Marijuana Business Daily

Banking, veterans and research top priorities for Congress, new Cannabis Caucus chair says

Published

on

By


If U.S. Rep. Dina Titus has her way, the 119th Congress will finally pass cannabis banking reform as well as bills easing military veterans’ access to medical marijuana and researchers’ abilities to study the drug.

If all that sounds familiar – or like a crass joke, in the weeks before Groundhog Day – it should.

Those popular and long-sought-after wins are also what the Nevada Democrat and newly minted co-chair of the Congressional Cannabis Caucus’ immediate predecessors chased after, Titus acknowledged during an interview with MJBizDaily.

ADVERTISEMENT

Titus, whose new caucus co-chair is fellow Democratic Rep. Ilhan Omar of Minnesota, spoke with MJBizDaily only days after the newly seated Congress voted to certify the November presidential election that will allow Donald Trump return to

Read full article on Marijuana Business Daily



Source link

Continue Reading
Advertisement

Trending

Copyright © 2021 The Art of MaryJane Media