Connect with us

Marijuana Business Daily

Property ownership is key when looking for investors, marijuana cultivator says

Published

on


When Jesce Horton began looking for his first warehouse to cultivate cannabis in Oregon’s regulated market, landlords for Portland properties routinely charged marijuana companies three to eight times as much per square foot as their mainstream counterparts.

“We were in a really unfavorable lease, one that we were excited to have,” Horton told MJBizMagazine of Lowd’s entry into the regulated marijuana market.

ADVERTISEMENT

In order to secure a lease on the property, Lowd prepaid a large portion of the rent, only to lose the lease because of some fine-print zoning issues. The story was a common one in the early days of regulated marijuana, Horton said.

Onward and upward

Today, the craft cannabis producer is operating out of its longtime headquarters while building out a new campus about 5 miles from downtown Portland.

Lowd first signed a purchase agreement for the new location, formerly an auto-wrecking facility,

Read full article on Marijuana Business Daily



Source link

Continue Reading

Marijuana Business Daily

Canada’s canceled licenses, ‘uncollectible’ cannabis taxes soar

Published

on

By


The number of canceled cannabis business licenses have soared alongside the amount of “uncollectable” excise tax in Canada.

At least 123 federal cannabis business licenses either were canceled or pending cancellation in 2023, according to new data provided to MJBizDaily by the Canada Revenue Agency (CRA).

ADVERTISEMENT

That figure is almost triple the number of licenses canceled in 2022.

Companies with canceled licenses are unable to cultivate, produce, package or possess non-duty-paid cannabis.

The data paints a picture of an industry facing micro- and macroeconomic challenges, many of which were spelled out in briefing materials for Finance Minister Chrystia Freeland and obtained through an access-to-information request.

The latest CRA data shows that at least 212 licenses were canceled between federal marijuana legalization in late

Read full article on Marijuana Business Daily



Source link

Continue Reading

Marijuana Business Daily

Florida adult-use marijuana campaign spending tops $55M as other MSOs join

Published

on

By


The most expensive adult-use marijuana legalization campaign in U.S. history is picking up speed in Florida.

Six additional marijuana multistate operators have joined the quest of Tallahassee-based Trulieve Cannabis Corp. to transition Florida’s $2 billion medical marijuana market – the largest in the country – to adult use.

ADVERTISEMENT

In addition to the new partners, legalization campaign committee Smart & Safe Florida announced Wednesday that it raised another $15 million toward the effort.

The MSOs joining the Trulieve-led initiative are:

Miami-based Ayr Wellness, which operates 63 medical marijuana treatment centers in the state. Chicago-headquartered Cresco Labs, 33. New York-based Curaleaf Holdings, 61. Chicago-headquartered Green Thumb Industries, 15. Massachusetts-based Insa, 10. Chicago-headquartered Verano Holdings, 74.

The latest $15 million contributed to the legalization

Read full article on Marijuana Business Daily



Source link

Continue Reading

Marijuana Business Daily

Cookies cuts ties with its lone San Francisco marijuana store

Published

on

By


Cookies, the most recognizable brand in cannabis, traces its origins to San Francisco and the pre-legalization marijuana underground in the city that’s considered by many to be the birthplace of the legal industry in America.

But as of earlier this year, there is no longer a Cookies-branded marijuana store in San Francisco.

ADVERTISEMENT

The brand terminated the licensing agreement it had with Berner’s on Haight, an adult-use store that’s borne the name of the Cookies co-founder since 2020, company President Parker Berling told MJBizDaily.

Exactly what happened is still a mystery, as the involved parties are not discussing details publicly.

However, both the store and the iconic brand are currently battling unrelated lawsuits, including a wrongful termination complaint filed by a former employee at

Read full article on Marijuana Business Daily



Source link

Continue Reading
Advertisement

Trending

Copyright © 2021 The Art of MaryJane Media