In a consolidated case, the 10th Circuit Court of Appeals ruled that neighbors can sue a pot farm for smells and other nuisances. Since it considers the odor a form of racketeering or property damage, the decision opens the door to lawsuits against all cannabis businesses. This was the initial intention of Safe Streets, a Washington D.C. anti-drug group which supported a group of Colorado horse ranchers to pursue this case.
The case of the horse farmers vs. the pot farm now returns to federal district court. In a win for the industry, the 10th circuit also ruled that Oklahoma and Nebraska to block Colorado’s pot industry.
Cannabis Wheaton, a Canadian "streaming" company that seeks to finance grows in exchange for a cut of the proceeds, cancelled an C$80M financing deal amid what it said were "misleading reports" aimed at discrediting the company. Wheaton CEO Chuck Rifici co-founded Tweed, now a part of major MED producer Canopy Growth. Despite reports, Rifici says the business is on track. The company also denied being contacted by law enforcement or regulators regarding the cancelled deal.
After he was rejected for a Maryland license, Black entrepreneur Darryl Hill has a new plan to integrate the industry. A court fight over lack of diversity is delaying Maryland’s MED rollout.
Ethnic Hmong families from southeast Asia, with experience farming opium poppies, are applying their expertise to cannabis farming in northern California.
More banks are serving the industry.
There’s 4.2M square feet of grow space in the Denver area. And vertically integrated chains are consolidating the Colorado market.
Possibly related: Colorado has the country’s lowest unemployment rate.
Canada’s largest cannabis IPO yet, MedReleaf, plunged 28% on its first day of trading. The company raised C$100M at a valuation just below C$900.
Concentrate sales are booming in Washington.
Women are underrepresented on Canadian producers’ boards of directors.
Federal authorities have seized 1,000 lockable, odor blocking bags by Boulder start-up Stashlogix at the Port of Long Beach, saying they are drug paraphernalia. The company is appealing and exploring the more expensive option of manufacturing its products in the U.S.
MJBizDaily looks into the legal battle over whether New York State will double the number of MED licenses to 10. The existing companies think five is enough.
Fast Company looks at how a packaging fix saves a dispensary $50,000 a year.
Washington pot sales are a rare bright spot for retail in the state.
A year after Gov. John Kasich signed the law, Ohio’s MED program is moving towards sales.
Cannabist founding editor Ricardo Baca suggests the recent High Times sale is an opportunity to reinvigorate its journalism. Baca is too nice a guy to add that nothing the new owners have said suggests they will. He also highlights the “legitimately insane” life of High Times founder Tom Forcade.
The industry is pushing up industrial rent prices in L.A. and Boston.
Cannabis-friendly soap company Dr. Bronner’s is contributing $125,000 to Cannabis Certification Council, a non-profit in Colorado and Oregon that will certify products for organic style growing, paying a living wage and other benchmarks.
McDonald’s ordered the removal of a New Mexico billboard with a weed joke.
I caught wind of @StocksandBongs, a potentially ill-advised Twitter feed for investors.