Tikun Olam Announces Closing Of $7 Million Convertible Promissory Notes Financing

Tikun Olam closes 7 million in promissory notes

NEW YORK: Tikun Olam USA, the world pioneer in cannabis research, is pleased to announce the closing of a $7,000,000 offering of 6% convertible promissory notes (the “Notes”), maturing in March 2019. Proceeds from the Notes, issued by T.O. Global LLC, a New York limited liability company (the “Company”), will be used for product research and development, Read the full article…

Tilray Announces Completion Of Series A Funding Round Led by Global Institutional Investors

Tilray closes Series A Round

C$60 million Series A financing will enable Tilray to increase production capacity and expand distribution in North America and Europe CANADA:  Tilray has announced the completion of its Series A funding round totaling C$60 million. The round was comprised of a group of leading global institutional investors. According to a company press release, Tilray will use Read the full article…

Bipartisan Marijuana Banking Bill Introduced In The Senate

Moody's Investors Service, in a report released Friday, said legal sales in Colorado will reduce the size of the black market and revenue from legal sales will mean more tax payments flowing into state coffers.

DISTRICT OF COLUMBIA: Reflecting growing public support for changing the nation’s drug laws, a bipartisan group of senators on Thursday introduced the chamber’s first bill that would legalize banking for recreational marijuana companies. Introduced by the Senate delegations from Oregon and Colorado, two of the first states to legalize recreational marijuana, the bill would prohibit the Read the full article…

Colorado House Backs Down, OKs Hemp-Farmers’ Access To Financial Co-Op System

Acquiescing to Senate insistence that hemp farmers be allowed to join the cooperatives, representatives voted 33-31 for House Bill 1398, sending it to Gov. John Hickenlooper's desk for approval and, ultimately, a showdown with federal banking regulators.

COLORADO: Backing down from a five-hour fight over whether industrial hemp farmers should be able to access a new credit union-like arrangement for marijuana businesses, the state House narrowly passed a bill that would create the first cooperative of its kind. Acquiescing to Senate insistence that hemp farmers be allowed to join the cooperatives, representatives voted Read the full article…

Banking Marijuana Requires “Act Of Congress”

DISTRICT OF COLUMBIA:  Despite bankers’ varied attitudes about legalizing marijuana, now that it is legal in Colorado, banks are supportive of government efforts to permit financial services for marijuana businesses. However, numerous obstacles prevent banks from serving marijuana businesses and their customers as they conduct legal activities. Colorado can’t regulate or tax an industry for Read the full article…

Banking Marijuana Requires “Act Of Congress”

DISTRICT OF COLUMBIA:  Despite bankers’ varied attitudes about legalizing marijuana, now that it is legal in Colorado, banks are supportive of government efforts to permit financial services for marijuana businesses. However, numerous obstacles prevent banks from serving marijuana businesses and their customers as they conduct legal activities. Colorado can’t regulate or tax an industry for Read the full article…

Joint Venture: Medical Marijuana Entrepreneurs Seek Out Unusual Backers

“What you’re seeing is people with deep pockets and professionals from other industries are the ones getting involved, not necessarily the guy who’s been growing marijuana in his basement for the last decade.”

MASSACHUSETTS: Shut out of traditional bank loans, budding entrepreneurs who want to sell medical marijuana in Massachusetts have been forced to get seed money from a host of unconventional sources — from restaurant and nightclub owners to friends and family, landscapers and even former legislators.

Joint Venture: Medical Marijuana Entrepreneurs Seek Out Unusual Backers

The state attorney general's office asks federal health and education officials for Colorado's colleges and universities to "obtain marijuana from non-federal government sources" for research purposes.

MASSACHUSETTS: Shut out of traditional bank loans, budding entrepreneurs who want to sell medical marijuana in Massachusetts have been forced to get seed money from a host of unconventional sources — from restaurant and nightclub owners to friends and family, landscapers and even former legislators.

Inslee, Ferguson Tell Congress To Fix Banking Rules So Legal Marijuana Can Work

One of these is more trouble than the other in Washington.

WASHINGTON: Governor Jay Inslee and Washington Attorney General Bob Ferguson want Congress to fix the banking rules or (at least) give banks confidence that they can take money from state-licensed marijuana businesses without fear of federal prosecution.