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The Marijuana Index, which covers leading cannabis investments on both sides of the Canada-U.S. border, rose 7% on Monday to close at 174.82. That was the index’s highest level on record. Total trade volumes were $148.8 million.
Penny stocks listed on the Marijuana Index were the best performers on Monday. Namaste Technologies Inc. (N) added more than 55%, Golden Leaf Holdings Ltd (GLH) rose 22.5% and Marapharm Ventures Inc. (MDN) finished nearly 22% higher.
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California Insurance Commissioner Dave Jones has been on a mission to ensure state-legal cannabis businesses have commercial insurance coverage and with his announcement of the first California cannabis surety bond program on Feb. 21, 2018, he continues to make progress.
More strife is on the horizon for Ohio’s troubled medical cannabis program. On Feb. 20, 2018, a group of unsuccessful medical cannabis applicants, led by Jimmy Gould of CannAscend Ohio LLC, filed a lawsuit challenging the state’s medical cannabis licensing process.
While the province of Newfoundland and Labrador has its key policies in place for recreational legalization and has secured a supply agreement with Canopy Growth Corporation (TSX:WEED) to provide cannabis for the province, it is now ready to hear from prospective cannabis retailers.
