Cannabis Company Buys CA Town: Stock Stunt or Long Game?

A cannabis company buys a California ghost town: Is it a legitimate investment in the town, a publicity stunt to boost stocks prices or some combination of the two?

Until last week, Nipton, California (population: somewhere between 15 and 20, depending on who you ask) was a handful of buildings perched on eighty dusty acres — between the low-rent, last chance casinos of Las Vegas, Nevada’s far fringes and the vast expanse of the Mojave Desert. If it was known for anything (and it wasn’t) it was for being the nearest outpost where Nevada residents could buy California lottery tickets.

Now? The former mining town is internationally famous for being the first — and, so far, only — settlement to be purchased outright by a cannabis company.

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Legal Pot Arrives in Lake Tahoe

North Lake Tahoe now has legal cannabis right in Incline Village, a hotspot for tourists.

A month after Nevada commenced recreational cannabis sales, the world-famous Lake Tahoe region now counts itself among the nation’s legal cannabis markets, with sales beginning Aug. 5.

The lake’s only medical cannabis dispensary on the Nevada side, NuLeaf, transitioned to adult-use sales and the day-one opening resulted in massive lines around the building.

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Could Cannabis Tourism Save Puerto Rico’s Economy?

Puerto Rico is drowning in a sea of debt more than $74 billion deep, and many on the Caribbean island see legal cannabis as a potential lifeline.

The sunny Caribbean island of Puerto Rico is facing some dark financial times: Large companies fled the island for friendlier tax laws, creating a deficit that the resource-rich, industry-poor territory has been unable to fill. Puerto Ricans — about 45 percent of whom live at or below the poverty line — are following suit: The island’s population has fallen by 400,000 people, to 3.4 million, in no small part because unemployment here (12 percent) is almost triple what it is back in the full-fledged USA (4.3 percent).

Above all, Puerto Rico is more than $74 billion in debt to creditors it cannot pay and has $50 billion in pension obligations it cannot fulfill. There are assertions that up to half of the debt is “illegal” — the result of toxic Wall Street tricks of the kind that engineered the Great Recession — but the weight of the financial obligation remains.

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Giving Back from Ganja Profits: Industry Efforts Raise Thousands for Charity

By now the word is out that legal cannabis means big boosts in revenue for crucial civic agencies and social services, but many people are unaware of the additional efforts cannabis companies are making to give back to their communities.

Cannabis dispensaries have always worked to help the less fortunate in their communities, ever since the very first one opened its doors two decades ago.

Twenty years ago California’s Prop 215 effort — the very first successful statewide ballot initiative to legalize medical cannabis — was spearheaded by progressive San Francisco communities dealing with the AIDS epidemic. A large ensemble of the Bay Area’s most visible dispensaries and brands joined together, for the fourth year running, to form Team Cannabis in the SF Aids Walk.

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High Times to Become a Publicly Traded Company

Now you can buy shares in High Times. Another merger places the cannabis media company on the Nasdaq.

Months after announcing a merger that put controlling interest of High Times out of the hands of private ownership for the first time since its founding, the magazine is announcing another acquisition that will make it a publicly traded company on the Nasdaq. Today High Times disclosed a merger with Origo Acquisition Company.

“Historically, High Times has been under-capitalized and unable to take advantage of broad opportunities in cannabis-related digital media, e-Commerce, branding and licensing,” the magazine said through a press release. “However, in 2017 Oreva Capital gained control of High Times and began to position the company to better capitalize on its robust future growth.”

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Cryptocurrency & Cannabis: Exploring the Edge of Economics

The state-legal cannabis industry has a big problem — it can’t use traditional banking. That means dealing with the hassle and liability of large sums of cash has become a fact of life for market participants. Do digital currencies like Bitcoin and Ethereum represent a potential solution? That all depends on who you ask.

Don’t feel bad if your first reaction to this story’s headline is “what’s cryptocurrency?” The idea is still slowly seeping into the mainstream discussion around money, but if you’ve ever heard of “Bitcoin,” that’s one expression of what we’re talking about — alternative currency that only exists as ones and zeros.

There are some basic explanations for the uninitiated, but the key feature to keep in mind is the lack of physical currency, because that’s the primary appeal for businesses producing high volumes of cash with no access to traditional banking.

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Colorado’s Legal Cannabis Revenue Hits the $500 Million Mark

Colorado started collecting taxes from the sale of legal cannabis in 2014. This month, the state’s total cannabis revenue reached the half-billion dollar mark.

Colorado’s legal cannabis industry has reached a major milestone, providing the state with $500 million in revenue since the start of commercial sales in 2014. This does not include additional revenue collected at the local level by city and county governments.

A recently released analysis of state data by Denver-based VS Strategies traces the flow from the state’s five main revenue streams (the 15 percent excise tax and 20 percent special tax contributed the bulk of the funds) and maps out how the money is being distributed across the state.

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Help with the Hunt: Find the Right Cannabis Products

New apps are designed to help locate strains, products and secure a medical marijuana recommendation.

Finding cannabis products you love can be complicated. But if you are sensitive to the differences between cannabis products, finding the right marijuana can be a crucial step in getting medicated. Even in states like California, with large legal cannabis programs, availability of products and strains varies by dispensary and within a dispensary by the day or even hour.

This high level of variety and lack of stability in sourcing can make things difficult. You may find an amazing product at your local dispensary. You love it, but when you go back to get more it’s out of stock. Now you are on the hunt. Do any other dispensaries have it nearby? How do you even start that search?

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Bolder Business Strategies

How two young entrepreneurs navigated stringent state regulations and built their brand.

Consider the multi-phase evolution of Colorado’s cannabis industry: the illicit marketplace gave way to a relatively unregulated medical marketplace, which developed into a regulated medical industry, which opened the door for adult-use legalization.

Now, constantly shifting regulation in both the state’s medical and recreational industries creates a minefield of obstacles and hazards for aspiring cannabis companies.

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CA’s Legal Weed Market Is Worth $5 billion — There’s a Catch

California already accounts for roughly a quarter of all legal cannabis sales in the Unite States and is poised to be an economic powerhouse in a decriminalized national industry — if it can introduce regulation without empowering a new illicit market.

By sheer numbers, California is easily the nation’s largest market for legal marijuana — which means the state is the biggest bonanza for cannabis sales on the planet.

Once legal commercial sales of recreational cannabis begin sometime next year, California will play host to a $5 billion legal marijuana market, according to a recently released state-sponsored study from UC Davis.

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