You are here

Home 🌿 Marijuana Business News 🌿 Medical marijuana operations find it tough to set up accounts 🌿

Medical marijuana operations find it tough to set up accounts

Submitted by Marijuana News on Mon, 06/01/2015 - 20:16

When medical marijuana becomes available in Minnesota on July 1, two state-approved companies will begin selling cannabis in pill and oil form to patients who suffer from cancer, HIV, AIDS, ALS and other conditions.

But although state lawmakers made dispensing the drug to those patients legal, federal law still bans marijuana. That's led to some big financial challenges for Minnesota's fledgling cannabis industry.

 

One of the biggest tests for the two manufacturers picked by the state to produce medical cannabis is setting up banking services.

Since winning approval from the Minnesota Department of Health to operate, Dr. Kyle Kingsley, an emergency room physician and the co-founder of Minnesota Medical Solutions, has hired several dozen people. His company also has built ahighly secure greenhouse in Otsego, Minn., and opened a massive marijuana growing and processing plant.

But when Kingsley tried to open the accounts the company would need, the...

Rate this article: 
Region: 
Minnesota
United States

This marijuana news is brought to you by 420 Intel. For the latest breaking cannabis industry news, subscribe to the 420 Intel newsletter. If you'd like to promote your product or service in this area after every article, contact us.


URL: 
http://www.mprnews.org/story/2015/06/01/medical-marijuana-banking-issues

420 Intel is Your Source for Marijuana News

420 Intel Canada is your leading news source for the Canadian cannabis industry. Get the latest updates on Canadian cannabis stocks and developments on how Canada continues to be a major player in the worldwide recreational and medical cannabis industry.

420 Intel Canada is the Canadian Industry news outlet that will keep you updated on how these Canadian developments in recreational and medical marijuana will impact the country and the world. Our commitment is to bring you the most important cannabis news stories from across Canada every day of the week.

Marijuana industry news is a constant endeavor with new developments each day. For marijuana news across the True North, 420 Intel Canada promises to bring you quality, Canadian, cannabis industry news.

You can get 420 Intel news delivered directly to your inbox by signing up for our daily marijuana news, ensuring you’re always kept up to date on the ever-changing cannabis industry. To stay even better informed about marijuana legalization news follow us on Twitter, Facebook and LinkedIn.