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Canada Chocolate Factory May Get New Life as Marijuana Farm

September 30th

SMITH FALLS, ONTARIO — A Canadian start-up wants to turn an empty chocolate factory in eastern Ontario into a production facility for medical marijuana, a possible boost for a local economy that has been hurting since the landmark Hershey plant shut down in 2008. The old factory, which for decades churned out Hershey chocolate bars, has been […]

Read Canada Chocolate Factory May Get New Life as Marijuana Farm in its entirety on The Daily Chronic.

Want to stay up to date on marijuana reform & cannabis news worldwide? Visit The Daily Chronic - The Voice of the Reform Generation, the most comprehensive coverage of the cannabis community!

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Feds May Help Marijuana Businesses Get Banking Services

September 11th

WASHINGTON, DC – U.S. law enforcement agencies are in talks about steps they may take under federal law to allow legal marijuana businesses to have access to bank accounts, a Justice Department official said on Tuesday. Deputy Attorney General James Cole said at a Senate Judiciary Committee hearing that the existing situation of marijuana shops operating […]

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Want to stay up to date on marijuana reform & cannabis news worldwide? Visit The Daily Chronic - The Voice of the Reform Generation, the most comprehensive coverage of the cannabis community!

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Kush Bottles Expands with New Seattle Warehouse

July 30th

By | The Daily Chronic - The Voice of the Reform Generation

SANTA ANA, CA – Kush Bottles, the nation’s largest wholesale distributor of pharmaceutical grade containers for the natural health and medical marijuana industry, announced today that they have opened a new warehouse, sales and distribution center in Seattle.

The facility will offer their exclusive line of premium, made-in-America, child-resistant prescription medicine containers, plus packaging and other materials used by medical facilities, pharmacies, and dispensaries.

The center will support the local Seattle medical marijuana market with same day delivery and a pick-up window, plus next day delivery to most of the west coast.

Kush Bottles also recently announced that they offer child-resistant containers using FDA approved materials. These containers provide dispensaries with a safe, proven and approved method to meet the standards of child-resistant packaging. The new Kush child-resistant containers are constructed with medical grade plastic, are 100% recyclable, and are BPA-free.

“We are happy to be open in the Seattle area and providing products that help dispensaries improve the quality and safety of their packaging,” said Nicholas Kovacevich, Chief Operating Officer of Kush Bottles. “I invite all dispensary owners to try us once. . . . . READ MORE

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Medbox Begins Operations in Oregon, New York, Illinois and Nevada

July 22nd

HOLLYWOOD, CA — Medbox, Inc. (OTC Markets: MDBX) (www.medboxinc.com), a leader in providing consulting services and patented inventory control, compliance, and dispensing systems to the medical and retail industries, announced that they will begin providing their consulting services to interested parties in the states of Oregon, New York, Illinois and Nevada.

Just weeks ago, The Oregon House passed a bill legalizing medical marijuana retail establishments, moving the industry squarely into the mainstream, and handing medical marijuana advocates a major victory. House Bill 3460, creates a registry of businesses that sell medical marijuana. Patients have long sought retail access to medical cannabis, arguing the state’s current rules that allow patients to grow their own marijuana are unrealistic.

A recent investigative report by The Oregonian, showed that the lack of state regulation of medical marijuana has allowed widespread diversion to the black market.

“We are pleased with the passage of this bill,” stated Dr. Bruce Bedrick, CEO of Medbox, Inc. “This legislation aims to legitimize the industry, and take marijuana off the streets and into properly run and licensed dispensaries,” he added. “We are strong proponents of any measures that help the medical marijuana industry conform to acknowledged standards and practices seen in the pharmacy industry, which will in turn benefi. . . . . READ MORE

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Private Equity Firms Investing in the Future of Legal Marijuana Sales

July 19th

SEATTLE, WA — In the sparse Seattle offices of Privateer Holdings, Brendan Kennedy grabs an iPad to show how his bet on legal marijuana is already payingdividends in the form of a Google results page for “blue cheese.”

When Web users search that term, high on the list is a link to reviews of the pot strain “blue cheese” on Leafly.com, the medical cannabis website Privateer bought a year and a half ago and which it calls the Yelp of weed.

“We’ve got Wikipedia blue cheese and pictures of blue cheese, and the third thing you see is the ‘blue cheese’ strain on Leafly,” Kennedy said as he displayed the Google results page. He says Leafly produces revenue of over $100,000 a month.

Popular interest in marijuana and moves by Washington state and Colorado to legalize recreational marijuana have led Kennedy’s two-year-old private equity firm and a handful of politically connected investors to dive into the pot business. Cannabis remains illegal under federal law.

Privateer this week said it closed a $7 million first round of fundraising. It also named to its board of directors Michael Auerbach, an investor with ties to former U.S. Secretary of State Madeleine Albright.

A next round of Privateer fundraising. . . . . READ MORE

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Kush Bottles Launches Line of Child-Resistant Containers for Medical Marijuana Dispensaries

July 18th

SANTA ANA, CA — Kush Bottles, the nation’s largest wholesale distributor of pharmaceutical grade containers for the natural health and medical marijuana industry, announced today that they have launched an exclusive line of premium, made-in-America, child-resistant containers.

kush bottles logoThe new Kush Pop Bottles are the smart choice for an easy, convenient and secure way to store medication safely. The containers are child-resistant and airtight to guarantee that medications stay fresh and dry.

According to a recent article in the Denver Post, child ingestion of cannabis is on the rise. “A study published last month in JAMA Pediatrics by George Sam Wang and colleagues of the Rocky Mountain Poison & Drug Center observed a sharp increase in the number of children evaluated at the Children’s Hospital Colorado following the widespread availability of medical marijuana in 2009,” the Post stated. “Of those children, most younger than 6 years old, eight required admission to the hospital, including two to the pediatric critical care unit.”

Unfortunately, most of the marijuana products available in states with legal medical marijuana are sold in simple wrappers or containers that fail to meet established standards of child-resistant packaging.

Kush Bottle. . . . . READ MORE

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WA, CO Congressmen Introduce Federal Bill to Allow Banking for Marijuana Industry

July 11th

WASHINGTON, DC — US Congressmen Ed Perlmutter (D-CO) and Denny Heck (D-WA) introduced a bill Wednesday, along with 16 bipartisan co-sponsors, to reform federal banking laws as they apply to marijuana related businesses, both in the existing medical marijuana industry and the forthcoming recreational marijuana industry in their respective states.

The bill, US House Bill 2652, the Marijuana Business Access to Banking Act of 2013, would allow regulated, state authorized marijuana businesses — either medical or recreational — to have access to financial institutions.  The bill would update federal banking rules to resolve conflicts between federal and state laws, promoting community safety and financial security, according to the bill’s sponsors.

Currently, even the most basic banking services, such as business checking accounts or merchant credit card processing services, are largely unavailable to the marijuana industry.

Federal regulators impose stiff punishments and penalize banks and their employees for providing services to marijuana related businesses. The result is legitimate, licensed and regulated businesses have extreme difficulty accessing the banking system to accept credit cards, deposit r. . . . . READ MORE

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WA, CO Congressmen Introduce Federal Bill to Allow Banking for Marijuana Industry

July 11th

WASHINGTON, DC — US Congressmen Ed Perlmutter (D-CO) and Denny Heck (D-WA) introduced a bill Wednesday, along with 16 bipartisan co-sponsors, to reform federal banking laws as they apply to marijuana related businesses, both in the existing medical marijuana industry and the forthcoming recreational marijuana industry in their respective states.

The bill, US House Bill 2652, the Marijuana Business Access to Banking Act of 2013, would allow regulated, state authorized marijuana businesses — either medical or recreational — to have access to financial institutions.  The bill would update federal banking rules to resolve conflicts between federal and state laws, promoting community safety and financial security, according to the bill’s sponsors.

Currently, even the most basic banking services, such as business checking accounts or merchant credit card processing services, are largely unavailable to the marijuana industry.

Federal regulators impose stiff punishments and penalize banks and their employees for providing services to marijuana related businesses. The result is legitimate, licensed and regulated businesses have extreme difficulty accessing the banking system to accept credit cards, deposit revenues, or write checks to meet payroll or pay taxes.

This forces legal, state-compliant marijuana businesses to operate as cash-only enterprises, inviting crimes such as robbery and tax evasion, adding to the burden of establishing a leg. . . . . READ MORE

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Cannabis Based Medicine ‘Sativex’ Now Available in Italy

July 9th

LONDON, UK — GW Pharmaceuticals plc (Nasdaq: GWPH, AIM: GWP, “GW” or the “Company”), a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform, is pleased to note the announcement from its partner Almirall S.A. that Sativex® is now available in Italy as a prescription medicine for use in the treatment of moderate to severe spasticity in Multiple Sclerosis (MS) patients who have not responded adequately to other anti-spasticity medications.

The launch follows receipt of full marketing authorization for Sativex® by the Italian health authorities in May. The medicine is reimbursed by the Italian authorities as a Class H (hospital dispensed) medicine. The reimbursed price of the medicine granted by the authorities in Italy is consistent with the reimbursed Sativex® price in Spain.

“As one of the largest markets in Europe, the launch of Sativex® in Italy is a key milestone in the commercialization of this important new medicine. Italy represents yet another addition to the growing number of countries in Europe in which Sativex® is now available to treat MS spasticity, a particularly debilitating symptom of MS that is not adequately treated with currently available medications,” stated Justin Gover, Chief Executive Officer of GW. “With a total of 21 countries that have now approved Sativex® for use in the treatment of MS spas. . . . . READ MORE

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Medbox Featured as Investment Opportunity in Legal Marijuana Industry on CNBC

July 8th

HOLLYWOOD, CA – Medbox, Inc. (OTC Markets: MDBX) (www.medboxinc.com), a leader in providing consulting services and patented inventory control, compliance, and dispensing systems to the medical and retail industries, announced that they have been listed in a CNBC story as an investment opportunity in the legal marijuana industry.

In a piece titled Investment Opportunities Grow in Marijuana BusinessMedbox was listed as one of only two publicly traded companies that are capitalizing on this rapidly growing industry.

“The marijuana market is growing,” said Courtney Regan of CNBC/Big Data Download. “It’s shaping up to be an incredibly lucrative industry based on the latest data projections.”

Commercial medical marijuana sales are estimated at $1.5 billion per year, but are rapidly growing, according to the report – using data collected from Medical Marijuana Business Daily. Looking forward, projected sales are $3 billion in 2014, and $6 billion in 2016.

“If you take the whole industry, not just medical – but the entire marijuana market in the United States - you’re probably looking at$40 billion. Some estimates have it as high as $100 or $120 billion. If you compare it to the wine industry, which is ma. . . . . READ MORE

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