Tagged: cannabis

State & Federal Regulators Issue Statement Regarding Banking & “Hemp Related Businesses” – No More SAR Reports

The Office of the Comptroller of the Currency (OCC) along with three other federal agencies and in conjunction with the state bank regulators have issued a statement clarifying the legal status of hemp growth and production and the relevant requirements under the Bank Secrecy Act… Read More

Ahead of New Zealand’s 2020 Cannabis Referendum, Marijuana Startups Raise Capital on PledgeMe

In advance of a forthcoming referendum on Cannabis, over $6 million has been raised for medicinal marijuana startups in the past 18 months via investment platform PledgeMe. The New Zealand government is poised to determine whether marijuana should be legalized and regulated for recreational use…. Read More

“Sauvignon Blanc of Cannabis” Puro Offers 14.58% Equity Stake on PledgeMe

Medical cannabis company Puro, described as the “Sauvignon Blanc” of marijuana is raising capital on PledgeMe. The Malborogh, NZ based company is seeking NZ $2 million in equity representing a 7.9%% equity stake in the company. The minimum investment has been set at NZ $500…. Read More

California Will Not Act Against Banks Providing Services to Cannabis Companies but Risk Remains

Earlier this month, the California Department of Business Oversight issued Cannabis Banking Guidance regarding state regulation. California is one of a growing number of states that have legalized Cannabis consumption. While California, and multiple US states, have legalized Cannabis usage, it still is illegal at… Read More

Cannabis Friendly SAFE Banking Act Passes the House, Next Up the Senate

The U.S. House of Representatives has passed H.R. 1595, the SAFE Banking Act, a Cannabis friendly act of legislation that may enable marijuana-based businesses to access the federal banking system. The bipartisan legislation was sponsored by Congressmen Ed Perlmutter (D-CO), Denny Heck (D-WA), Steve Stivers… Read More

Arizona Fintech Sandbox Inducts Stablecoin Service for Medical Marijuana Firms

The Arizona Attorney General’s Office has added a company called ALTA (www.whatisalta.com) to the state’s Fintech sandbox program. ALTA is, “an Arizona startup that will allow cash-intensive businesses to make and receive digital payments without a bank,” using a digital token known as a “stablecoin,” a cash proxy… Read More

TOKE: Cannabis Focused ETF Launched by Cambria on Cboe

The Cannabis sector is smoking hot. The initial euphoria of legalization in Canada and multiple US state has pushed individual Marijuana focused companies to all time highs. Cambria Investment Management is capitalizing on this rush by launching a new exchange-traded fund: Cambria Cannabis ETF. The… Read More

US Senate Banking Committee Schedules Hearing on Cannabis and Banking

The US Senate Banking Committee will hold a hearing to discuss the emerging legal cannabis industry and the challenges with banking. In the US, legalization of Cannabis, whether it is for medical or recreational use, has been a slapdash state by state affair. Federal legalization… Read More

OTC Markets Group CEO Cromwell Coulson: Cannabis is Hot, Cautious on Blockchain Tech & Digital Assets

OTC Markets Group trades over 10,000 US and global securities. The company, a regulated alternative trading system (ATS), operates three tiers of trading platforms with each marketplace (OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market). OTC Markets largely targets smaller companies… Read More

SEC-Mandated Claims Process for Impacted Paragon Coin Investors Extended for 60 Days

The team behind Paragon coin has issued a notice informing “Paragonians” that the US Securities and Exchange Commission (SEC) has ordered a 60-day extension of the claims process the regulator compelled when the company was found to have violated the Securities Act by selling “PRG”… Read More

OurCrowd Portfolio Company Cannabis Firm BOL Pharma Plans Listing on Toronto Stock Exchange

Cannabis company BOL Pharma (Breath of Life International) is preparing an initial public offering on the Toronto Stock Exchange (TSX). This is according to a company release and a preliminary prospectus filed in Canada. It was reported that BOL will have a valuation of around… Read More

Cannabis and Banking: House Committee to Discuss Access to Financial Services for Marijuana based Businesses

The House Subcommittee on Subcommittee on Consumer Protection and Financial Institutions, part of the Financial Services Committee, has scheduled a hearing for Wednesday, February 13th to discuss the Cannabis industry and access to financial services. The Hearing, entitled Challenges and Solutions: Access to Banking Services for Cannabis-Related… Read More

House Financial Services Subcommittee Schedules Hearing on Cannabis Businesses and Access to Banking

The House Financial Services Committee, Subcommittee on Consumer Protection and Financial Institutions, has scheduled a hearing for later next week to discuss the topic Cannabis and banking in a hearing entitled “Challenges and Solutions: Access to Banking Services for Cannabis-Related Businesses.” The Subcommittee is Chaired by New… Read More

OurCrowd Targets Emerging Cannabis Industry with 7thirty Opportunity Fund

Leading investment crowdfunding platform OurCrowd is jumping into the hot cannabis sector. OurCrowd has launched a $30 million cannabis tech fund called 7thirty Opportunity Fund. OurCrowd said it will build the “world’s leading global cannabis technology venture capital fund.” The new fund is said to… Read More

SEC Fined and Sanctioned Crypto Project Paragon Pumps 6800% on Russian Exchange

A Happy New Year, indeed. Paragon Coin (PRG), the crypto token of a “cannabis on blockchain” project sanctioned in November by the SEC, pumped 6800% overnight on New Year’s Eve on the Russian crypto exchange Yobit. When PRG holders woke up in the new year,… Read More

Cannabis Crowdfunding: Greenrush Raises Money on RenGen Labs

Greenrush, a “national online cannabis shopping destination,” has announced a Series B funding round on RenGen Labs. Greenrush provides “on-demand eCommerce and delivery to its 50,000+ customers in more than 150 cities across 5 states and growing.” RenGen was formerly known as Saftlaunch, an initial coin offering (ICO) platform that has since morphed… Read More

SEC Enters Final Judgement Against Richard J. Greenlaw, Who Created 20 Different Cannabis Companies and Raised Money on Craigslist

The Securities and Exchange Commission has obtained final judgement against Richard J. Greenlaw, a founder of a medical marijuana company. According to the SEC, Greenlaw created 20 affiliated entities and then raised $500,000 from investors by using Craigslist – the popular online classified site. The twenty cannabis-related… Read More

Are You Stoned? More People are Interested in Investing in Cannabis than Crypto

This is an interesting perspective courtesy of CBInsights. A very unscientific Twitter poll by CBInsights, asks the question if you had a $10 million to invest would you put it in crypto or Cannabis? Well, perhaps if you had asked the same question at this… Read More

Grow Green: Canadian Cannabis Company Green Mountain Health Alliance Seeks $500,000 on Frontfundr

Canada is on a determined path to legalize both medical and recreational use of Cannabis. At some point later this year, across all of the Canadian provinces Cannabis will be legally sold thus increasing legal demand and suppliers are rushing to accommodate expectations of a… Read More

Emerald Metrics Signs Agreement with Tetracam for Cannabis Specific Tool as it Crowdfunds on SeedInvest with Side by Side Reg CF – Reg D Offer

Emerald Metrics has announced an exclusive agreement with Tetracam for the distribution of spectral imagers targeing the emerging Cannabis market. The partnership with Tetracam is said to allow Emerald to continue to help evolve the Tetracam cameras and build in Cannabis-specific firmware from Emerald Metrics…. Read More

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