Cannabis Industry Weekly Recap 9/15/2017 – Forbes
The biggest surprise this week from Washington was Senator Orrin Hatch introducing legislation on medical marijuana research and extolling the benefits of cannabis. Certainly not what we expected from the good Republican and Mormon from Utah. He made it clear he did not support adult-use marijuana, but he suggested that marijuana should be studied as a non-narcotic alternative to treating opioid addiction.
Meanwhile, the White House Office of National Drug Control Policy asked all the states that have legalized marijuana to share patient demographic data. Most states suggested the department review already published information.
Former New York Senator Alfonse D’Amato is now a lobbyist for the Marijuana Policy Project.
July sales in Colorado topped the $100 million mark for the first time. The Cannabist reported that by its calculations, Colorado tax data shows that cannabis shops sold $137 million in marijuana products over the month. That would be $101.1 million in recreational sales and $35.8 million in medical sales. The publication cautioned that the numbers could be a little off because it was the first month of a new tax structure.
Cannabis delivery company Eaze raised an additional $27 million in Series B financing brings the company’s total funding to $52 million. The money will be used to continue the company’s expansion
Cronos Group announced a private placement for $10 million at a price of $2.25. The proceeds will be used to fund the continued expansion of the company’s production capacity.
Colorado-based Green Dot Labs announced that it closed its Series A capital raising round with a $3.3 million investment from Tuatara Capital, L.P. Green Dot makes cannabis extracts.