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Cannabis social network sues ex-CEO

MassRoots, a cannabis social networking app company, is suing its founder and former CEO.The Denver company, which ousted founder Isaac Dietrich last month, alleges in a civil suit the former CEO misappropriated $250,000. The company also accuses Dietrich of illegal drug use and inappropriate sexual activity.Marijuana Business Daily reports: Dietrich – who remains a member of the MassRoots board of directors – called the lawsuit “completely unfounded” and “frivolous.”He also told Marijuana Business Daily he would proceed shortly with efforts to oust the other three board members.The suit sheds new light on the reasons behind Dietrich’s surprise ouster last month. Until now, the...

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Corona distributor bets legal marijuana has a corporate future

Corona distributor Constellation Brands' purchase of a 9 percent stake in Canadian marijuana company Canopy Growth Corp. is a step in the direction of corporate involvement in the legal weed business. In another sign that corporate types, especially those with backgrounds in the alcohol business, are interested in marijuana, the former marketing chief for Budweiser brewer Anheuser-Busch InBev has made two investments in marijuana startups and likens legal marijuana to the craft beer industry. Constellation made its $195 million investment in Canopy Growth last month, and has options to buy more shares at a later time. Canopy is a leading producer of...

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Researchers look to uncover hemp genetics

Researchers from UC-Davis are teaming up with Colorado biotech Front Range Biosciences to study the genome of industrial hemp.Merry Jane reports:The UC-Davis project, led by viticulturist and enologist Dario Cantu, will only sequence the genes for hemp, a variety of cannabis with less than 0.3 percent THC (read: it won’t get anyone high). “We are now excited to have the opportunity to study the genome of hemp,” said Cantu in an Oct. 26 press release. “Decoding its genome will allow us to gain new insight into the genetic bases of complex pathways of secondary metabolism in plants.” Cantu’s lab is only handling...

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Industrial hemp production explodes

Farmers are buying into industrial hemp, with acreage devoted to the crop increasing along with production, and Colorado leading the way.Westword reports: ...hemp farmers are getting the acreage – 23,343 acres, to be exact, according to a new study by Vote Hemp, an organization dedicated to advancing the industrial hemp industry. And which state is leading the pack? Colorado, by far.Vote Hemp just released the results of its study measuring the number of acres on which hemp is grown across the country. The report found that 33 states have enacted some form of hemp-specific legislation; nineteen of those have created licenses to grow...

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