The stigma is shrinking and the money is growing.
The following is excerpted from the newsletter WeedWeek. Get your free and confidential subscription at WeedWeek.net.
Private equity investment in weed is heating up. Canadian MED company Organigram raised $17.5M. Denver’s Baker Technologies, a software company which helps dispensaries win and retain customers, raised $1.6M. The industry’s average seed round is $1M according to investment firm Poseidon Asset Management.
Commodities investor Jim Rogers, who started Quantum Fund with George Soros, has invested in PharmaCielo, a Canadian company that won the first license to grow MED in Colombia.
CMH Brands, a company which processes Willie Nelson brand Willie’s Reserve, acquired Denver Relief’s grow and manufacturing facilities. The deal comes weeks after Denver Relief sold a store to Terrapin Station.
The Clinic’s new flagship store in Denver cost more than $1M. A JPMorgan analyst thinks Scotts Miracle-Gro’s push into the industry will benefit the stock. Bloomberg BusinessWeek interviewed Dixie CEO Tripp Keber.
Fast Company looks at what it’s like to work for social media app MassRoots.
San Jose, Calif., dispensary Medimarts promised a court fight against a ruling that it owes $767,000 in taxes and late fees.
787 drivers were involved in Colorado’s 546 driving fatalities last year. Of the drivers, 59, or 7.1% tested positive for cannabis but not other drugs. The total number of fatalities was down from 606 in 2005.
Researchers found that a Vermont Department of Health study was overly negative and did not account for the possibility of legalization alleviating the state’s opioid crisis. This year the state legislature failed to pass a REC bill that was widely expected to become law.
In the Des Moines Register, the founder of an addiction center writes that pot is still dangerous. “We see the faces of marijuana addicts first hand. And it’s not funny. We see people who struggle with simple tasks at school and work. People incapable of perceiving or expressing emotion. People who suffer from higher incidence of mental health diagnoses, such as schizophrenia, paranoia and anxiety.”