Massachusetts cannabis entrepreneur faces securities fine

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Massachusetts cannabis entrepreneur faces securities fine

A Massachusetts man who raised money to convert a former paper mill into a facility that cultivates marijuana for adult-use consumption, faces a $50,000 fine for allegedly selling $1.3 million in unregistered securities to about 40 investors. The Secretary of State’s office said it reached a consent order over the matter with David Caputo, founder of Positronic Farms.

– Associated Press

Hodas promoted to CEO of Denver-based marijuana vape company

Denver-based Gofire, a cannabis vaping technology company, promoted Joe Hodas from president and chief operating officer to CEO. Hodas replaces co-founder Peter Calfee, who will remain as board chair.

West Virginia accepting medical cannabis applications next month

Businesses seeking to participate in West Virginia’s future medical cannabis market will be able to apply for business licenses starting Dec. 19, according to the state’s Bureau of Public Health. The Office of Medical Cannabis will open the application process to growers, processor, dispensaries and laboratories.

– Associated Press

Boston creates cannabis board to assist minority MJ entrepreneurs

The Boston City Council approved an ordinance creating an independent Cannabis Board in an effort to boost involvement of minority entrepreneurs in Massachusetts’ growing marijuana industry. The move also creates the state’s first local marijuana fund supporting minority-owned firms, according to officials.

– Associated Press

Oklahoma’s high court says cities can regulate medical cannabis

The Oklahoma Supreme Court ruled that cities may approve some regulations for medical marijuana businesses in their jurisdictions. The court ruled that legislative amendments to the voter-approved law allowing medical marijuana enables cities to use “standard planning and zoning procedures” as they relate to MMJ businesses. But the amendments do not permit Oklahoma cities to prevent medical marijuana businesses from opening.

– Associated Press