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Featured Articles
Innovative Industrial Properties Announces Public Offering of 1,000,000 Shares of Common Stock
Innovative Industrial Properties, Inc. announced today that it has commenced a public offering of 1,000,000 shares of its common stock. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 150,000 shares of its common stock....
Federal Marijuana Legalization Bill Would Add Billions In Revenue And Reduce Prison Costs, Congressional Budget Office Says
A bill set to go before the U.S. House of Representatives this week to federally legalize and tax marijuana would add billions in revenues and reduce prison costs over the next decade, according to a report released by the Congressional Budget Office (CBO)...
Pennsylvania Senators Approve Marijuana Banking Protection Bill As Congressional Reform Stalls
As the House prepares to vote on a bill to federally legalize marijuana this week, lawmakers from both major parties have continued to file amendments that will be taken up by the House Rules Committee on Wednesday before the legislation reaches the floor. Most of the...
Illinois Senate Committee Abruptly Halts Debate On Bill To Protect Workers Who Test Positive For Cannabis
An Illinois Senate committee began a debate this week on a bill that would protect workers from being fired for using cannabis in their free time. With some exceptions, the measure would prohibit employers from firing workers or discriminating against job applicants...
South Carolina House Lawmakers Approve Senate-Passed Medical Marijuana Legalization Bill In Subcommittee
South Carolina lawmakers on Thursday approved a Senate-passed bill to legalize medical marijuana in the state. A subcommittee of the House Medical, Military, Public, and Municipal Affairs Committee advanced the measure, sponsored by Sen. Tom Davis (R), in a...
Recreational Cannabis Goes on Sale in New Mexico April 1
Beginning at midnight on April 1st, 2022, any person in New Mexico over the age of 21 will legally be allowed to buy up to 2 ounces of marijuana from dispensaries across the state. People are also allowed to have six of their own cannabis plants for personal...
Featured Articles
With marijuana now legal in Virginia, lawmakers debate how to set up the industry
Virginia lawmakers plan to take up a host of cannabis-related legislation this year in a narrowly divided General Assembly, following the body’s historic vote to legalize the drug for recreational use last year — when both the House of Delegates and the Senate were under Democratic control. Last summer, then-Gov. Ralph Northam (D) signed into law a measure making it legal for people 21 or older to possess up to an ounce of marijuana and cultivate up to four marijuana plants in their household. But the complex legislation left it illegal to buy or sell cannabis, as retail sales were not slated to begin until 2024, giving the state time to build a regulated commercial market. Proposed legislation would allow some businesses to begin legally selling marijuana as soon as July 1. The law includes a provision that requires the General Assembly to reenact certain aspects of the legislation during this year’s session, opening the door to significant changes to the law. Lawmakers in both the House, which Republicans now control after winning the majority in last fall’s elections, and the Senate, which is still under the control of Democrats, will consider cannabis-related bills that address such issues as a timeline and who will get licensing preference.
Cannabis Business Executive – Cannabis and Marijuana industry news, 01/31/2022 09:07:00
Dark Heart Announces World’s First Intrinsically Seedless Cannabis for Commercial Producers
Dark Heart Industries, a California cannabis genetics company, announced the world’s first seedless triploid cannabis for commercial growers. Dark Heart’s PistilGuard technology produces triploid cannabis seeds and clones that essentially cannot produce seed, even when directly exposed to pollen. This technology innovation means that triploid cannabis can be grown on the same scale as corn, wheat or industrial hemp. “Our cannabis genetics using PistilGuard triploid technology is an industry first,” said Dan Grace, founder, and CEO of Dark Heart Industries and Dark Heart Nursery. “The ability to grow THC-rich cannabis from sterile, triploid seeds and clones that are guaranteed to produce virtually seedless plants is a huge win for the cultivators we support. Pollen-proof cannabis, and the advantages it offers, will help move cannabis production from artisanal cultivation to large-scale agriculture.” “The development of triploid seedless varieties has been a huge step forward in many commercial crops including watermelon, banana, and apples,” said Ken Owens, Ph.D., vegetable breeder and former president of Magnum Seeds. “This trait’s introduction in cannabis is a real breakthrough that will allow higher yields, reduced costs as well as improved aromatic and chemical qualities of the crop. All this leads to higher profitability and control of your crop.” Owens added, “Now that scientists at Dark Heart have developed the core technology, they’ll be able to introduce new seedless, triploid-based strains and cultivars through traditional breeding that should bring cannabis production to a whole new level very soon.”
Posted Melissa Schiller, Cannabis Business Times, 01/31/2022 10:26:00
New York’s Proposed Cannabinoid Hemp Regulations
New York’s proposed cannabinoid hemp regulations are a big deal for the State’s 700 or so hemp farmers, and the greater cannabis industry. This post will explain how we got here, what the regulations provide, and what happens next. How New York arrived at the proposed cannabinoid hemp regulations For the past two months, the New York Cannabis Control Board (the “CCB”) and the Office of Cannabis Management (the “OCM”) have been busy implementing the State’s Cannabinoid Hemp Program (the “Program”). If you read this blog, you may recall that under the Marijuana Regulation and Taxation Act (the “MRTA”), the CCB is tasked with implementing cannabis regulations (adult-use program and cannabinoid hemp program) whereas the OCM is to administer these regulations. In October 2021, the OCM took over the Program, which was originally overseen by the Department of Health (the “DOH”). On November 3, 2021, the CCB adopted the temporary regulations released by the DOH in July 2021. Then, on December 16, 2021, the CCB filed amendments to these regulations that “are intended to create new value-added opportunities for farmers and empower New Yorkers to make informed choices in the CBD marketplace.”
Canna Law Blog™, 01/29/2022 10:04:00
1st U.S. Circuit Court of Appeals ruled this week that two licensed cannabis growers in Maine
Marijuana business owners remain subject to criminal charges from the U.S. government despite a longstanding federal amendment that bars the Department of Justice from interfering with medical cannabis laws and operations, an appellate court ruled this week. According to Reuters, the 1st U.S. Circuit Court of Appeals ruled this week that two licensed cannabis growers in Maine can be held accountable under federal marijuana laws despite the Rohrabacher-Farr Amendment (now known as the Joyce-Blumenauer Amendment) because they allegedly engaged in “blatantly illegitimate activity.” Judge William Kayatta wrote in an opinion for the court that the DOJ could prosecute the defendants in question – Brian Bilodeau and Tyler Poland – because they used Maine’s MMJ laws as a cover to operate illegally by selling marijuana into the underground market.
Cannabis Law Report, 01/28/2022 21:55:00
How Cannabis Investors Should Position During Market Turbulence
Stocks, in general, are experiencing their worst January since 2008, and this is weighing heavily on the cannabis sector as measured by the New Cannabis Ventures Global Cannabis Stock Index, which is down over 18% to begin the year. Cannabis stocks are generally speculative, and speculative assets have been hit the hardest over the past four weeks: For cannabis stocks, 2022 is looking like 2020 four weeks into the year, with a prior downtrend extending. In Q4, the Global Cannabis Stock Index dropped 27%, and it has declined 18.4% in January thus far. Compared to the peak last February, the market has now dropped 69.9%. A decline of 21% in Q4 of 2019, related to the vaping crisis, was followed by a 5.2% decline in January 2020. When the market hit bottom in March of 2020, it had dropped 83.9% from its peak in March 2019. While this decline is somewhat less in magnitude, it has been extreme, with a similar time frame. It’s unrealistic to expect cannabis stocks won’t struggle further if the overall market continues to sell off aggressively, but we believe that some cannabis companies will fare better than others, if so.
New Cannabis Ventures, 01/30/2022 11:08:00
UK’s Prohibition Partners Provide Polish Cannabis Legislation Update
Newly released data show that Poland is home to over 9,261 patients legally accessing medical cannabis, making it one of the largest such populations in Europe. Demand for medical cannabis from patients in Poland is growing fast, but the government is still failing to ensure adequate supply. New legislation that would bolster the national supply has been rejected by the Parliament. On 13 January 2022, the Polish Parliament held the first reading of three draft laws intended to overhaul the cannabis laws in Poland. Out of the three drafts under consideration, two were rejected, and the third one was accepted for further proceedings by the Health and Agriculture committees. Currently, legislative work is taking place with respect to six different drafts of amendments to the hemp law, two of which (including one citizen’s draft) relate to the legalization of recreational use. The first of the rejected drafts provided for the general admission of cannabis cultivation with high THC concentration for the needs of the pharmaceutical industry in Poland, allowed the reimbursement of cannabis-based medicines for certain indications and aimed to regulate the legal issue of driving after the use (2-5 ng Δ9 THC/ml) and in an intoxicated state (>5 ng Δ9 THC/ml) of THC. It, therefore, remains illegal to cultivate medical cannabis commercially in Poland and patients must rely on imports from Europe and North America.The second bill, also rejected, was a new law comprehensively regulating the cultivation of industrial hemp (with a low THC content), the cultivation of which is now legal in Poland, but regulated (like so-called ‘medical marijuana) by the Anti-Drug Abuse Act. The proposal assumed raising to 0.3% THC the limit, differentiating between fibrous (industrial) hemp and hemp with high THC content used for medical purposes.
Cannabis Law Report, 01/28/2022 23:06:00
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Maine: Bi-Partisan Efforts to Improve State’s Medical Program and Protect Patients Continue to Advance
Two decades after legalizing medical cannabis access, Maine lawmakers continue to work to perfect their program. Representative Lynn Williams (D- HD 135) says, “Support for the issues around Maine’s medical marijuana program crosses many lines: Republicans, Democrats,...
NORML Releases Report to Give Policymakers Guidance on Regulating Adult-Use Cannabis Markets
Eighteen states have legalized adult-use cannabis to date, providing 18 different examples of how to establish a licensed and regulated market. NORML announced on March 29 the release of a new report, “Marijuana Policies in the Legal States: A Comprehensive Review of...
IND HEMP and Hempitecture Announce Supply Partnership for Domestically Produced Hemp Fiber Nonwoven Insulation
IND HEMP and Hempitecture announced the coordinated supply chain partnership to produce and manufacture natural hemp fibers for Hempitecture's nonwoven Hempwool insulation in the western United States. IND HEMP coordinates genetics, agronomy, and...
Heritage Cannabis Sells Interest In Blockchain-Focused TechFirm To Fuel Its Marijuana Operations
Heritage Cannabis Holdings Corp. CANN HERTF has sold its interest in Stanley Park Digital Ltd., a technology consulting company that focuses on all aspects of blockchain technology, based in Vancouver, BC, for total cash proceeds of approximately CA$608,649...
Congressional Researchers Identify Challenges Caused By Federal Marijuana Prohibition Ahead Of House Legalization Vote
As the U.S. House of Representatives prepares to vote on a bill to federally legalize marijuana this week, congressional researchers have released a report detailing the challenges posed by ongoing federal prohibition and the options that lawmakers have available to...
New Marijuana Prohibition Super PAC Targets Pro-Legalization GOP Congresswoman, Among Other Races
A top executive of the national prohibitionist group Smart Approaches To Marijuana (SAM) is launching a new political action committee (PAC), targeting pro-legalization candidates and supporting those who oppose the policy in key races. And one of the super PAC’s...
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