Day: June 6, 2019 (Page 2)

Cannabis oil firm PharmaCielo to buy Australia’s Creso Pharma for roughly $85M

On: June 6, 2019

Toronto-headquartered PharmaCielo agreed to purchase Creso Pharma, an Australian-traded cannabis oil producer, for 122 million Australian dollars ($85 million). PharmaCielo is the parent of PharmaCielo Colombia Holdings, a producer of medical cannabis oils in Colombia. Creso Pharma is a medical cannabis company specializing in the research, development and production of therapeutic,Continue Reading

Report: Minnesota’s two medical cannabis firms post $2.4 million in red ink in 2018

On: June 6, 2019

Minnesota’s two medical marijuana companies, Leafline Labs and Minnesota Medical Solutions, lost a combined $2.4 million in 2018, continuing the losses that have marked the state’s program since it began in 2015. But top executives from the two companies told the St. Paul Pioneer Press they are optimistic because of recentContinue Reading

Weekly Deal Watch: Cannabis capital raises keep up 2019 pace, led by debt

On: June 6, 2019

Capital raises in the North American cannabis industry continued their rapid year-over-year climb the last two weeks, raising the second-largest amount of debt for the industry so far this year. Weekly Deal Watch: Cannabis capital raises keep up 2019 pace, led by debt is a post from: Marijuana Business Daily:Continue Reading

New lawsuit alleges marijuana delivery giant Eaze engaged in payment processing fraud

On: June 6, 2019

Cannabis tech platform and delivery giant Eaze Solutions is facing a new legal challenge to its business model, this time from a Canadian competitor that also runs a delivery platform in California. Toronto-based DionyMed filed suit against Eaze in San Francisco County Superior Court, alleging the California company uses wire and bankContinue Reading

U.S. Appeals Court Orders DEA to Consider Cannabis Rescheduling Petition

On: June 6, 2019

Efforts to have cannabis rescheduled were moved forward last week by a 2-to-1 ruling of the Second U.S. Circuit Court of Appeals in New York City, finding that the Drug Enforcement Administration must “act promptly” if formally petitioned to take another look at the question. The May 31 decision cameContinue Reading

Domino effect? Illinois marijuana legalization could spur other states to do same

On: June 6, 2019

Illinois, the nation’s first state to legalize commercial recreational marijuana through its Legislature, may spark similar legalization efforts elsewhere in the country – and could serve as a blueprint for others, according to industry executives. That could open the doors to millions – if not billions – of dollars inContinue Reading

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