11,511 Views Over $1 billion has been raised in the cannabis industry in 2016, according to Viridian Capital Advisors. The billion dollar line was crossed last week in part with C$40 million ($29.8 million) raised by OrganiGram Holdings, Inc. The deal will allow for the build out and expansion of the company's cultivation, extract and derivative facilities. Continue reading on Forbes.
Citing Australia's onerous security requirements for growing medical cannabis, prominent Australian industrial hemp grower Ecofibre announced it will move its medical cannabis capabilities from Australia to the United States. The company, backed by Australian millionaire Barry Lambert, has been producing industrial hemp for more than 15 years for use in medical research, fiber, and food products. Continue reading on Leafly.
Marijuana legalization brought unexpected challenges to Colorado, and it was rarely clear what part of state government was supposed to solve them, or how. Businesses were selling marijuana-infused, animal-shaped candy attractive to children. Residents growing pot at home were selling it illegally in other states. Continue reading on Boston Globe.
Donald Trump's selection of anti-drug hardliner Alabama Senator Jefferson Beauregard Sessions III for his attorney general nominee has entrepreneurs in the legal marijuana industry worried. While there is cautious optimism stemming from Mr. Trump's statements both in favor of medical marijuana and states' rights in this area, Senator Sessions has voiced anti-legalization sentiments for years and could instruct the department of justice to prosecute those in the marijuana indu