Category Archives: Ancillary Marijuana Companies

Lack of cannabis tracking data in WA sparks confusion, missed business opportunities

A dearth of comprehensive price and sales data and incorrect figures about marijuana commerce have sowed confusion among cannabis businesses in Washington state since regulators rolled out a new traceability system more than a year ago. Cannabis analytics companies that long relied on the data have watched their revenues shrink. Also, the lack of market […]

After huge cannabis investment, Altria buys $13B stake in vape firm Juul

Two weeks after announcing a major move into the marijuana market with an investment of $1.8 billion in Canadian medical and recreational MJ provider Cronos Group, Marlboro maker Altria revealed it is spending nearly $13 billion to buy a huge stake in the vape company Juul. E-cigarettes and other vaping devices have been sold in […]

‘Christmas is coming early’: Canada’s draft rules for marijuana edibles expected in coming weeks

Hotly anticipated draft regulations to allow legal sales of cannabis edibles and concentrates in Canada are expected to be released before Christmas, according to sources, paving the way for a new wave of businesses and entrepreneurs aiming to capitalize on the country’s recreational marijuana industry. Edibles sales will begin next year, opening a potentially huge […]

Marijuana vape firm Pax Labs raises $20M but seeks to avoid VC dependence

San Francisco-based Pax Labs has closed a $20 million funding round, Bloomberg reported. CEO Bharat Vasan told the news outlet that the company wanted to keep the investment small to “avoid becoming overly dependent on venture capital.” Launched by the founders of e-cigarette maker Juul, Pax Labs vaporizers allow users to control the device with […]

IHeartMedia to invest up to $10 million in marijuana publisher High Times

The nation’s largest radio broadcaster, IHeartMedia, has agreed to invest up to $10 million in the publisher of High Times magazine, giving the marijuana company access to the media firm’s digital and radio advertising platforms. Under the deal, IHeart will commit $5 million-$10 million worth of advertising on the internet and radio – platforms High […]

Exclusive: Report finds Washington state rushed into launching marijuana tracking system, fixes needed

An independent report commissioned by Washington marijuana regulators found the state and MJ Freeway were forced to rush out a new cannabis seed-to-sale traceability system earlier this year despite technical problems that cost MJ businesses tens of thousands of dollars in lost sales. The study, performed by a leading tech and research consultancy and obtained […]

Canada’s commercial marijuana insurance market gets big backers

Two multinational insurance companies have given the green light to underwriting cannabis-related businesses in Canada, allowing companies in the burgeoning sector to grow their operations while reducing risks and liabilities. Lloyd’s of London and Hub International both announced plans to enter the cannabis industry in Canada. In a bulletin, Lloyd’s said it would offer insurance […]

Marijuana exchange-traded fund takes in $22 million in August

Investors are flocking to a U.S.-listed exchange-traded fund (ETF) that tracks nearly 40 Canadian and American cannabis firms. The $436 million ETFMG Alternative Harvest ETF – which trades on the NYSE Arca under the ticker symbol MJ – has taken in around $22 million in August, putting it in a position to post its largest monthly inflow […]

MJ Freeway slowdowns disrupt Pennsylvania medical cannabis retail sales

Some medical marijuana retailers in Pennsylvania were forced to suspend sales last week because of system slowdowns and errors in the MJ Freeway seed-to-sale tracking software that the state uses to keep tabs on the MMJ market. According to an MJ Freeway statement emailed to Marijuana Business Daily, the system did not go down Thursday, but a […]

Turning a marijuana pipe dream into a multimillion-dollar head shop: Q&A with Smoke Cartel CEO Darby Cox

Darby Cox In a Savannah, Georgia, warehouse, Smoke Cartel employees file through rows of vaporizers, dab rings and torches, hustling to fill online orders from head shops, dispensaries and consumers across the United States. It’s an operation that less than five years ago began as wishful thinking – launched from the living room of Smoke […]