Connect with us

Marijuana Business Daily

Synthetic cannabinoid maker Nalu Bio raises $12 million

Published

on


Nalu Bio, a producer of synthetic cannabinoids, said it raised $12 million in a Series A funding round led by Intrinsic Capital Partners, a Pennsylvania-based investment firm focused on life science and technology businesses in the legal marijuana and hemp industries.

The investment in the San Francisco-based company, announced in a Tuesday news release, comes amid a tough stretch of raising capital in the hemp and marijuana sectors, where deals are in short supply and terms costly.

ADVERTISEMENT

State regulators are also taking a much more stringent view on cannabinoids, with Connecticut, Virginia and Utah cracking down on the production and sale of delta-8 products and their derivatives.

Lawmakers in West Virginia are also proposing a ban on products containing delta-8 THC.

Other backers in the funding round include Flybridge Capital Partners, Portfolia Active Aging & Longevity Fund, Bonaventure Equity, L37 Ventures, Golden Seeds, Sacramento Angels, Brown Angel Group

Read full article on Marijuana Business Daily



Source link

Continue Reading

Marijuana Business Daily

Metrc secures cannabis track-and-trace contract extension in California

Published

on

By


California’s cannabis regulatory agency has extended the state’s contract with Florida-based marijuana track-and-trace software company Metrc.

The new contract took effect July 1, according to California’s Department of Cannabis Control, and will run for four years.

ADVERTISEMENT

The state has an option to extend the contract another two years.

The Department of Cannabis Control did not immediately respond to an MJBizDaily inquiry about the value of the contract.

Metrc said in a news release that it will focus on improving transparency and speeding up data-driven responses to support regulators and protect consumers.

According to Metrc, its traceability system is billed to track the life cycle of cannabis-based products, including:

Origin. Testing results. Handling. Chain-of-custody information.

The timing of the contract extension

Read full article on Marijuana Business Daily



Source link

Continue Reading

Marijuana Business Daily

When will Ohio launch adult-use cannabis sales? Here’s what we know

Published

on

By


The calendar has flipped well into July, and Ohio regulators have yet to grant any final approvals for retailers to launch adult-use cannabis sales.

The delays are an unwelcomed reality for local operators who hoped to cash in the perennial boost of the Fourth of July weekend, one of the busiest purchasing days of the year for the industry.

ADVERTISEMENT

Meanwhile, more than 100 retailers in the process of receiving dual licenses are restricted from serving consumers until they receive so-called “certificates of operation,” the Ohio Capital Journal reported.

Such requirements include potential inspections and point-of-sale integrations that distinguish between medical and recreational sales for state tracking purposes.

Potential launch date came and went

Though expectations were hyped by politicos that recreational marijuana sales

Read full article on Marijuana Business Daily



Source link

Continue Reading

Marijuana Business Daily

Judge keeps Alabama medical marijuana licensing on hold

Published

on

By


An Alabama judge has extended a temporary restraining order on the issuance of medical marijuana business licenses in yet another delay to the market’s launch.

Montgomery County Circuit Judge James Anderson, according to the Alabama Reflector, also instructed the state’s Medical Cannabis Commission to begin investigative hearings requested by companies denied licenses in the previous round.

ADVERTISEMENT

The restraining order was pushed by Alabama Always, an MMJ company seeking one of the state’s vertically integrated licenses.

Last December, Alabama regulators issued five integrated licenses to MMJ companies, including:

Flowerwood Medical Cannabis. Specialty Medical Products of Alabama. Sustainable Alabama. Trulieve AL. Wagon Trail Med-Serv.

The application and selection process for those integrated licenses sparked lawsuits after the state’s first two attempts to issue them.

Read full article on Marijuana Business Daily



Source link

Continue Reading
Advertisement

Trending

Copyright © 2021 The Art of MaryJane Media