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Lawmakers on opposite sides of marijuana debate say more potent pot is needed for research
Representatives Andy Harris, Republican of Maryland, and Earl Blumenauer, Democrat of Oregon, agree on little related to the legalization of marijuana. Harris opposes it for recreational use and also thinks that as a medicine, it should be scaled back. Blumenauer is...
Workers at St. Louis medical marijuana dispensary vote to form a union
Workers at a St. Louis medical marijuana dispensary have voted to unionize, becoming the first cannabis workers in Missouri to do so, a local chapter of the United Food and Commercial Workers announced on Monday. All eight workers in the bargaining unit at the Root 66...
427 applications seek prequalification for Vermont retail cannabis market
Vermont has started taking prequalification applications from potential marijuana growers, retailers, product manufacturers, and others as it prepares for a retail cannabis market to open this fall. As of midday on Tuesday, 427 had applied for prequalification,...
House Passes Bipartisan Marijuana Research Bill To Let Scientists Study Dispensary Products, Days After Legalization Vote
The U.S. House of Representatives on Monday approved a bipartisan marijuana research bill that’s meant to streamline studies into cannabis, in part by allowing scientists to access products from state-legal dispensaries. This comes days after the chamber separately...
South Carolina Lawmakers Hear Senate-Passed Medical Marijuana Legalization Bill In Committee
A South Carolina House committee on Monday discussed a Senate-passed bill to legalize medical marijuana in the state, with members hearing hours of testimony from a wide range of voices including military veterans and pharmacists. The House Medical, Military, Public,...
Illinois Marijuana Sales Rebound In March, Reaching $131 Million, State Officials Report
Illinois’s marijuana market seems to be rebounding after a couple of months of lagging sales, with officials reporting on Monday that the state saw nearly $131 million in legal recreational cannabis purchases last month. That’s the second-highest recorded sales month...
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Seniors are using cannabis more than ever before
TAMPA, Fla., Marvin Yeoman, 74, had tried cannabis as a young adult, but for his wife it was new. “I never, never, ever even thought about marijuana when I was growing up — never in college, as a young adult or as a middle-aged adult,” said Rene Yeoman, 71. “It was just not even something that was on my radar.” The Land O’ Lakes residents had both undergone recent major surgeries, so they gave in to their daughter’s suggestion to use the drug to treat chronic pain. Rene Yeoman discovered she liked how edibles helped her sleep through the night and avoid the use of other medications. And as seniors the couple is in good company. “When I go to the dispensary, there are more elderly people in there than there are young people,” said Marvin Yeoman.mIn 2021 the proportion of adults 65 or older who reported recent cannabis use jumped by 18%, according to the 2020 National Survey of Drug Use and Health released in November, rising from 5.1% in 2019 to 6% in 2020. The spike comes on the heels of a steady trend of increased cannabis use among seniors over the past five years. What’s more, in 2020 more older adults also reported using cannabis sometime in their lifetime — a jump from roughly 32% to 36% — signaling a possible cultural shift in older adults’ willingness to open up about past tokes. “It’s accepted now,” Marvin Yeoman said. “You used to have to sneak in the back alley to purchase it, but now you can just walk right into the store and buy it, just like you would go to Publix or Winn-Dixie.” In Florida, people with a medical marijuana card can legally purchase THC products throughout the state. Both Marvin and Rene Yeoman have one. While they said it’s expensive to renew — costing a few hundred dollars every eight months — obtaining a card was simple.
420 Intel – Marijuana Industry News, 02/07/2022 19:00:00
Open article: https://420intel.com/articles/2022/02/08/seniors-are-using-cannabis-more-ever
Cannabis-Focused Finance Company Altmore BDC Announces Proposed Initial Public Offering
Cannabis-focused finance company Altmore BDC, Inc. announced the filing of a registration statement on Form N-2 related to an initial public offering of 6.67 million shares of its common stock. The price range for this offering is currently $14.50 to $15.50 per share of common stock. Altmore has applied to have its common stock approved for listing on the Nasdaq Capital Market under the symbol “ABDC.” In connection with this offering, Altmore is expected to grant the underwriters a 30-day option to purchase up to an additional 1,000,000 shares of its common stock. The completion of the proposed offering depends upon several factors, including market and other conditions. The company intends to use the net proceeds of this offering for investments in senior secured loans in accordance with the investment objective and strategies described in the prospectus and for general working capital purposes, though it is possible that some of the net proceeds may be invested in other forms of debt, as described in the prospectus. Ladenburg Thalmann & Co. Inc., Compass Point Research & Trading, LLC and Oppenheimer & Co. Inc. are acting as joint lead book-running managers for the offering.
Mmp News Author, Medical Marijuana Program Connection, 02/09/2022 09:08:00
Thailand Drops Cannabis From Its List of Controlled Narcotics
Public Health Minister Anutin Charnivakul said the move marked the beginning of “a new history for cannabis” in the country. Two years after becoming the first nation to legalize the use of marijuana for medical purposes, Thailand has taken another step toward becoming the first Southeast Asian nation to decriminalize the drug. Yesterday, Public Health Minister Anutin Charnvirakul signed a ministerial announcement officially removing cannabis and hemp from Category 5 of the country’s list of narcotics. At a signing ceremony, Anutin, who has spearheaded Thailand’s push for decriminalization since his Bhumjaithai Party made legalization of cannabis a key campaign promise at the 2019 election, expressed hopes that the move marked the beginning of a “new history for cannabis” in Thailand. “Cannabis actually has plenty of medical benefits, not different from other herbs, and we are trying our best to make the Thai people enjoy both medical and economic benefits from it,” the minister said.
Mmp News Author, Medical Marijuana Program Connection, 02/09/2022 05:03:00
Cannabis Store Co-owned By Top Virginia Senator Sells Mislabeled Products With Illegal THC Content, Media Investigation Finds
The Lucky Charms cereal bars for sale at Sen. Louise Lucas’s cannabis shop in Portsmouth feature a stoned cartoon leprechaun and a warning that it “contains cannabis, a Schedule 1 controlled substance.” The label, it turns out, is only partially accurate. Lab testing shows the marshmallow treat does contain delta-9 THC—the main intoxicating ingredient in the pot—which remains illegal to sell in Virginia even after lawmakers legalized marijuana possession last year. But the packaging overstated the bar’s potency, suggesting it contained 600 milligrams of total THC while the lab test showed just under 30 milligrams. Both issues—the mislabeled product and the presence of a controlled substance—are typical of the black and gray market for retail marijuana that has exploded in Virginia since lawmakers legalized possession of the drug but not sales. The resulting demand for marijuana products has presented an opportunity for entrepreneurs willing to take a risk but left customers with little assurances as to the quality and contents of the mostly-synthetic THC products that have been popping up in gas stations, health food stores, and dedicated retail outlets like the one co-owned by Lucas, who as president pro tempore of the Virginia Senate is the most powerful elected Democrat in state government.
Marijuana Moment, Marijuana Moment, 02/07/2022 10:35:00
Hemp Could Have More THC Under New Congressional Bill That Aims To Fix Regulatory Issues For Expanding Industry
A new congressional bill seeks to build upon the federal legalization of hemp by providing cannabis businesses with additional flexibility that’s been sought after by industry stakeholders, as well as removing a controversial ban on market participation by people with prior drug convictions. Rep. Chellie Pingree (D-ME) filed the Hemp Advancement Act on Tuesday. The legislation would provide several critical reforms, including by increasing the legal THC threshold for hemp products from the current 0.3 percent to 1 percent on a dry weight basis. It could additionally, however, upend the growing market for delta-8 THC products by officially counting the isomer in allowable THC amounts. It would also address an issue related to THC levels for in-process hemp. Businesses previously raised concerns about the THC threshold prescribed under the existing federal statutes because the process of hemp extraction can temporarily raise the THC content in a crop in a way that could make them liable for enforcement action. Under Pingree’s bill, in-process hemp would not be subject to any THC limits as long as the final product doesn’t exceed one percent.
Kyle Jaeger, Marijuana Moment, 02/08/2022 07:20:00
Oklahoma Gov. Implies Voters Didn’t Fully Comprehend Marijuana Bill They Approved
Oklahoma’s Republican Governor Kevin Stitt implied on Monday that voters didn’t quite understand the ballot initiative they overwhelmingly approved in 2018 to legalize medical marijuana. Or perhaps they were misled? The governor said he found the ballot to be “misleading, and it has tied our hands as we regulate the industry.”The governor, reported Marijuana Moment, pointed to the relatively low cost of obtaining a cannabis business license, noting that without a cap on marijuana operators, the market has expanded at an unsustainable rate. “Oklahoma charges just $2,500 for a commercial license,” Stitt said, noting that California charges far more, in fact up to 72 times more. “As a result, we have seven times the growers in California with just 10 percent of the people.” Then the governor moved on to neighboring Arkansas. “Next door in Arkansas, they have eight growers. We have 8,300,” the governor said. “You know as well as I do that not all of that product is being sold legally. This is a perfect example of why we need to make sure initiative petitions represent Oklahomans and not out-of-state special interest groups.” The governor advised that voters should be aware of all the details before changing voting to change the Constitution. “While we can’t change the past, we can learn from it and improve our future. We’re getting the right leaders in place and untying their hands to enforce the laws.”
Benzinga Staff Writer, The Fresh Toast, 02/08/2022 06:00:00
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Older Posts
CBD Is Expensive: How The Industry Can Re-Think Its Pricing For Consumers
The last two years haven’t been great for the CBD industry. The pandemic cratered in-store sales of CBD. Meanwhile, by choosing not to regulate CBD, the FDA left it in a legal gray area, limiting where it can be sold. If you need evidence of the industry’s...
Entity structure considerations for MSOs
Multi-state operators may need to weave a complex web when it comes to corporate structure. Operators entering new jurisdictions must consider many factors, the most significant being tax exposure, licensing restrictions, and potential exit scenarios as they determine...
Workers at St. Louis medical marijuana dispensary vote to form a union
Workers at a St. Louis medical marijuana dispensary have voted to unionize, becoming the first cannabis workers in Missouri to do so, a local chapter of the United Food and Commercial Workers announced on Monday. All eight workers in the bargaining unit at the Root 66...
Legislators have nipped Virginia’s budding cannabis industry, advocates say
Despite commitments from both major parties to improve on and regulate the marijuana industry, cannabis advocates say the General Assembly has left a flourishing industry in the weeds. Jacob Williamson grows, makes, and sells hemp-based CBD products through his...
Khiron Life Sciences Launches on the TSX Venture Exchange
A Colombian cannabis venture has started raising capital in the hungry Canadian public cannabis market. Thanks to a reverse takeover the Colombian-based Khiron Life Sciences (TSXV: KHRN) has made its public debut on the TSX Venture Exchange on Thursday (May 24) under...
Democratic Cannabis Caucus Leaders Say GOP Co-Chair’s Vote Against Legalization Bill Is No Reason For Alarm
The U.S. House of Representatives on Friday voted in favor of a bill to federally legalize marijuana. And while the vote largely fell along partisan lines, there was at least one notable “no” on the Republican side: Rep. Dave Joyce (R-OH), who supports ending...
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