marijuana business daily

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U.S.: Marijuana Industry Takes A Step Forward With DOJ

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The cannabis industry had a major victory last week, without even appearing in court. The U.S. Department of Justice, after four years, dropped the case to shut down Harborside Health Center in Oakland, California, which is currently the largest medical marijuana dispensary in the United States.

Robert MacCoun, a law professor and drug-policy expert at Stanford University, in an interview with SF Gate perfectly explained how this market is changing: "The framework is moving from the war on drugs to tricky issues of regulation, taxation and who is going to be in control of this major new industry," he said.

The reason for the softer approach is in part economical. According to a report by Marijuana Business Daily, the entire marijuana industry, including tourism, which is an impact of legalization, is projected to provide $44 billion to the economy by 2020.

Legal marijuana sales in the U.S. alone spiked to $5.4 billion in 2015, up from $4.6 billion in 2014. Sales are projected to hit $7.1 billion in 2016.

Florida: Marijuana Business Conference Coming To East Coast May 9-11

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The publishers of Marijuana Business Daily will host their annual Spring Marijuana Business Conference & Expo in Orlando, Florida, May 9-11.

"This is going to be an epic year for the cannabis industry after a nearly two-year lull in state initiatives being passed," said George Jage, president of Marijuana Business Daily. "Starting with Pennsylvania becoming the 24th state to allow medical cannabis, there is also a surge of state ballot initiatives in place that will open more medical and recreational markets come November.

"Most notably, we are going to see a big change in the center of gravity of the industry from being West Coast focused to nationally focused with major markets in the Midwest, New England and Mid-Atlantic regions opening for business," Jage said.

The Marijuana Business Conference & Expo will host more than 200 exhibitors and 60 speakers. Attendance is expected to exceed 3,000 entrepreneurs, executives, and major private investors from all 50 states, Canada and Europe, according to organizers.

All seven key industry sectors will be fully represented, according to the sponsors: dispensaries and recreational retailers, wholesale growers, professional and financial services, infused product makers, private equity investors, ancillary products and tech, and testing labs.

US: Marijuana Economy Predicted To Hit $44 Billion By 2020

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By Derrick Stanley
Hemp News

Marijuana Business Daily just released its annual report on the US cannabis industry, predicting up to $44 billion in economic impact by 2020.

The figure includes dales of marijuana and all the money pumped into the economy as a result of sales. It includes everything from wholesale growers to grow-light manufacturers and marijuana paraphernalia.

"We've been expecting rapid growth in the marijuana industry for a while now, and that's exactly what's playing out," says MBD managing editor Chris Walsh. "The main drivers of the growth in recreational sales are Colorado, Washington and Oregon. And also, interestingly, even the mature medical marijuana markets are growing very quickly, like Arizona, New Mexico, and states that have had medical programs for years now. And then you have new medical marijuana states like Illinois, Nevada and Massachusetts."

The actual figure for marijuana sales is estimated at $3.5 billion to $4.4 billion for this year in just states that have legalized recreational and medical use. The overall sales market for marijuana each year in all states (not just where legalized): "Between $30 and $45 billion in the U.S., and that includes the black market," Walsh says. For just legal sales, MBD projects $6 billion to $11 billion by 2020.

U.S.: MBank To Close All Marijuana Business Accounts

BankOfPot[GregStump/TheStranger]

By Steve Elliott
Hemp News

Was it too good to last? MBank, a small community bank based in Gresham, Oregon, that quickly became one of the main banks serving the marijuana industry, has announced that it will close all of its accounts with cannabis companies within the next two months.

The cost and time spent on compliance with federal banking rules is just too much for the company to handle, according Jef Baker, CEO and president of MBank, reports Tony C. Dreibus at the Marijuana Business Daily.

The bank currently has between 70 and 75 accounts with marijuana businesses, according to Baker. Most of those accounts are in Oregon, with a few in Washington state.

“We just do not have the resources to manage the compliance necessary” to continue to service the cannabis industry, Baker said. “This is not what we want to do, this is what we have to do," he said. "We got into this business to serve an underserved group and I wish we could still do that.”

The banks customers will have "a couple months" before their accounts are closed, Baker said on Friday afternoon.

Graphic: Greg Stump/The Stranger

Arizona: MPP Director Threatens Dispensaries Over Legalization Battle

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By Steve Elliott
Hemp News

Marijuana Policy Project Executive Director Rob Kampia reportedly threatened to spend thousands of dollars to disrupt two Arizona dispensaries, threatening that a key staffer at the shops who also formerly headed up MPP's recreational legalization push in the state will "pay a price" if she leads a competing ballot measure.

The rift leaves the future of recreational marijuana in Arizona in doubt, reports John Schroyer at Marijuana Business Daily, pitting a prominent pro-cannabis organization against a dispensary executive and many of her peers in the medical marijuana industry.

The dispute grew from disagreements between MPP and several dozen Arizona dispensaries over the language of a proposed 2016 ballot measure to legalize recreational marijuana. Negotiations between the two factions reportedly fell apart last week. Gina Berman, who at the time was chairwoman of MPP's Arizona legalization campaign, is the medical director at The Giving Tree Wellness Center dispensaries.

Photo of Rob Kampia: Reason TV

Maine: Two Marijuana Legalization Measures Could Be On 2016 Ballot

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By Steve Elliott
Hemp News

Maine voters could be looking at not one but two marijuana legalization measures on the 2016 ballot, if two competing groups are both successful at qualifying for the ballot.

Legalize Maine, based in the northeastern part of the state, on Wednesday announced a plan to have its own measure on the ballot, joining the Marijuana Policy Project (MPP), which has already announced its referendum, reports Sarah Delage atr WCSH.

Paul McCarrier of Legalize Maine said the group is focused on jobs. According to McCarrier, marijuana legalization would bring economic development to rural areas.

McCarrier said his group is moving forward with its own legalization plan after talking with people in other states who have worked with the Marijuana Policy Project.

"We are not interested in being subjugated to MPP or the Washington D.C. policy," McCarrier said. "These will be competing measures and we will win."

MPP, based in the District of Columbia, plans to put a similar question on the 2016 ballot. The group put the question to voters in Portland and South Portland, where it was approved, and in Lewiston, where voters rejected it.

"Ideally it makes sense to have one initiative," said David Boyer of MPP. "But if we can't see eye to eye then we will move forward and we hope voters choose the plan that will make marijuana legal and stop punishing adults for using a substance safer than alcohol."

U.S.: CannaBranders Launches Web and Branding Services For Marijuana Industry

CannaBranders(logo)

Cannabis is big business and CannaBranders, announcing the launch of their website this week, is positioning itself to be a leader in the medical marijuana branding and web services market.

The web and branding company dedicated solely to the (legal) marijuana/cannabis industry, has announced they will be attending the National Marijuana Business Conference and Expo in Las Vegas on November 12-14.

CannaBranders will be sponsoring NCIA’s 4th Anniversary Banquet, "Vive la Révolution," on Thursday, November 13. The conference is produced by Marijuana Business Daily and will have more than 1,500 cannabusiness pros and major investors from more than 30 US states and 10 countries such as Medical Marijuana, Inc (OTCPK:MJNA), HEMP, INC (OTCPK:HEMP), Cannabis Science, Inc (OTCQB:CBIS), Growlife, Inc (OTC:PHOT) and GreenGro Technologies (OTCPK:GRNH).

CannaBranders has assisted many marijuana business organizations through specialized cannabis industry marketing in order to achieve their targeted goals. They offer marijuana website design, marijuana graphic design, cannabis industry marketing, medical marijuana marketing and even how to open a marijuana dispensary.

Massachusetts: Harborside's DeAngelo Brothers Make It To Final Round With Marijuana Dispensary Application

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By Steve Elliott
Hemp News

Steve and Andrew DeAngelo of California's Harborside Health Center have made it to the final round of the application process to operate a medical marijuana dispensary and separate cultivation facility in Massachusetts.

Massachusetts has released a list of 100 applicants who made it to the final round of the permitting process, and Andrew DeAngelo is listed as head of Green Heart Holistic Health and Pharmaceuticals Inc., which wants to open a dispensary in Boston, reports the Marijuana Business Daily. Steve DeAngelo, executive director of Harborside, is reportedly playing an active role in Green Heart.

Green Heart has arranged a lease for a cultivation facility at 10 Industrial Way in Amesbury, reports Mac Cerullo at the Eagle-Tribune. Another firm, Alternative Therapies Group Inc., had already applied to grow marijuana in Amesbury; neither group wants to open a dispensary in the town, saying they hope to open separate dispensaries elsewhere.

Green Heart executives recently sent a letter to members of the Amesbury City Council introducing themselves; in the letter, Steve DeAngelo and vice president Dan Houston said no marijuana would be sold in Amesbury, and that the cultivation facility would be guarded 24 hours a day and provided with the latest surveillance systems.

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