New York-based Power REIT on Thursday announced the acquisition of a 37,000-square-foot Southern California greenhouse used for cultivation of commercial cannabis in a cash and stock deal worth $7.7 million. The Riverside County property, which is already leased to cultivator and flower brand Canndescent, was acquired from another private realContinue Reading
The marijuana industry has spent about $2 million so far this year lobbying for federal cannabis reform in Washington DC, and more than half that money has come from individual MJ-related companies. Businesses and lobbying organizations said the investments are critical in helping lawmakers and federal regulators understand the importanceContinue Reading
A bipartisan group of attorneys general from 33 states and five territories have sent a letter to Congress calling for swift passage of the Secure & Fair Enforcement (SAFE) Banking Act — legislation that would reform banking regulations affecting institutions that handle cannabis-related accounts. The May 8 letter notes that a majorContinue Reading
This is the first installment of a new weekly series from Marijuana Business Daily and Viridian Capital Advisors. Each week, we will provide you with the latest data on cannabis investment activity and M&A, along with key takeaways, analysis and trends based on recent market moves. The data below, provided by Viridian CapitalContinue Reading
California marijuana cultivator Canndescent announced Thursday that it has closed a $13 million Series C Convertible funding round to help finance the company’s expansion into new state markets. The company also will use the money to bankroll a second cannabis brand and new product lines. Canndescent, which already specializes inContinue Reading
The growing mainstream appeal of CBD has some cannabis business owners concerned that CBD is a threat to the THC-reliant marijuana market. Is CBD a threat to THC-focused marijuana companies? is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs Read More: IsContinue Reading
In August, CNBC’s investment-meets-travel-journalism show “The Profit” hopped on the cannabusiness bandwagon with an episode called “Marijuana Millions.” While host Marcus Lemonis promises “to take you on a journey and show you where the profit is in pot,” he is so unfamiliar with the topic that he ultimately delivers littleContinue Reading
Canndescent, a major California cultivation company, has closed a $10 million Series B offering to finance the launch of new products and expand its production capacity by some eightfold. The lead investors in the raise are Floret Ventures, a San Francisco-based consultancy and investment firm, and Altitude Investment Partners in NewContinue Reading
Canndescent asks cannabis enthusiasts to choose an effect. Some strains are too sour, some too gassy and some are juuuust right. Charge No. 509 from Canndescent hits that Goldilocks point, as this strain is a fresh light burst in the dark days of winter. Charge No. 509 is a warming,Continue Reading
Smoke this strain for an evening of painting, baking, making — or any form of creating. With the winter solstice right around the corner and the nights stretching far into the day, here at Cannabis Now we’ve been looking for indoor activities to fill our long, evening hours. We’ve attendedContinue Reading
