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Featured Articles

Cannabis ETFs Evolve but Don’t Yet Excel

Cannabis ETFs Evolve but Don’t Yet Excel

The first cannabis exchange-traded fund (ETF) launched in 2017, and we have been following the developments closely since then. Today, we are tracking 11 ETFs. We recently shared a review of these funds with subscribers to our premium cannabis due diligence service...

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Featured Articles

Rhode Island Lawmakers Near Marijuana Legalization Deal, But Governor Not Sold On Key Provision

Rhode Island Lawmakers Near Marijuana Legalization Deal, But Governor Not Sold On Key Provision

Key Rhode Island lawmakers say they are nearing an agreement on a marijuana legalization bill that they plan to introduce within days. But one part of the deal might jeopardize support from the governor. Legislators have been in talks for months to reconcile competing legalization proposals that have been brought forward by the House, Senate, and governor’s office. Many issues have been resolved over the course of negotiations, but the question of who should be in charge of regulating the program—an existing agency or a newly created body—has been a sticking point. Lawmakers are now signaling that the best route to satisfy both sides would be to create a compromise approach where a state agency like the Department of Business Regulation (DBR) and a new independent cannabis commission would each play a role. House Speaker Joseph Sherkarchi (D) said in opening remarks at the start of the 2022 session on Tuesday that lawmakers have “spent months analyzing the complex issue of marijuana legalization.” “The House and Senate intend to soon have a draft of legislation ready, which will serve as a framework to begin a robust public hearing process,” he said.

Mmp News Author, Medical Marijuana Program Connection, 01/05/2022 22:17:00

Open article: https://mmpconnect.com/rhode-island-lawmakers-near-marijuana-legalization-deal-but-governor-not-sold-on-key-provision/

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Cannabis REIT AFC Gamma Raises $61.5 Million Selling Shares at $20.50

Cannabis REIT AFC Gamma Raises $61.5 Million Selling Shares at $20.50

AFC Gamma, Inc. (“AFC Gamma”), a commercial real estate finance company that provides loans to operators in the cannabis industry, today announced the pricing of its underwritten public offering (the “Offering”) of 3,000,000 shares of its common stock at a public offering price of $20.50 per share. AFC Gamma has granted the underwriters of the Offering a 30-day option to purchase up to an additional 450,000 shares of common stock. AFC Gamma anticipates total gross proceeds of $61.5 million, before deducting underwriting discounts and commissions and other offering expenses and excluding any exercise of the underwriters’ option to purchase additional shares. AFC Gamma intends to use the net proceeds from the Offering to fund loans related to unfunded commitments to its existing borrowers, to originate and participate in commercial loans to companies operating in the cannabis industry that are consistent with its investment strategy, and for working capital and other general corporate purposes. The Offering is expected to close on or about January 10, 2022, subject to the satisfaction of customary closing conditions.

Published Ncv Newswire, New Cannabis Ventures, 01/06/2022 04:48:00

Open article: https://www.newcannabisventures.com/cannabis-reit-afc-gamma-raises-61-5-million-selling-shares-at-20-50/

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Cannabis Banking Defeat In Congress Opens Opportunity For Equity-Centered Approach (Op-Ed)

Cannabis Banking Defeat In Congress Opens Opportunity For Equity-Centered Approach (Op-Ed)

Last month, congressional leaders eliminated cannabis banking provisions that had been attached to a large-scale defense bill by the House. Supporters of the Secure and Fair Enforcement (SAFE) Banking Act in its current form were upset, with many insisting that SAFE would close the gap between the predominantly white-owned multistate operators (MSOs) and small minority entrepreneurs who lack access to private equity. They also argue that it would help prevent robberies of small cannabis businesses. However, the language of the bill as currently drafted paints a different reality and stands to give more power to MSOs with little evidence it will deter crime. The good news is that with a new year and new congressional session, we can work together to push for a fresh start in Congress that makes the bill more equitable, enhances safety, and positions disadvantaged small businesses to truly benefit from expanded banking services. As a Black woman and chair of Cannabis Regulators of Color Coalition, it’s important to me that we get this right and truly help historically excluded business owners not just in theory, but in reality. On the surface, it would seem that creating access to commercial lending, as SAFE promises to do, would benefit emerging Black, Indigenous, and people of color (BIPOC)-owned businesses. After all, many have little-to-no access to private equity funding while MSOs are generally well-positioned to obtain capital. The rationale is that equity-designated businesses would gain access to funding under SAFE, serving to help level the playing field. But this superficial analysis does not examine the position banks are most likely to adopt, and whether banking rules will actually enable disadvantaged businesses to successfully compete alongside MSOs. Under SAFE, marijuana would remain a Schedule I substance. The bill does not change the existing laws, instead of creating a “safe harbor” for banks willing to work with marijuana businesses, despite the latter operating in clear violation of the Controlled Substances Act (CSA).

Marijuana Moment, Marijuana Moment, 01/05/2022 09:22:00

Open article: https://www.marijuanamoment.net/cannabis-banking-defeat-in-congress-opens-opportunity-for-equity-centered-approach-op-ed/

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Connecticut Marijuana Business License Applications Will Be Accepted Starting Next Month, Officials Announce

Connecticut Marijuana Business License Applications Will Be Accepted Starting Next Month, Officials Announce

Connecticut regulators announced on Tuesday that they will start accepting certain marijuana business license applications at the beginning of next month. The news follows a meeting of the state’s Social Equity Council (SEC), where members approved a technical assistance plan for the cannabis industry that will involve outreach and providing resources to people interested in participating in the market. That plan’s finalization was a necessary condition to trigger the start of the licensing process under the legalization law signed by Gov. Ned Lamont (D) last year. The decision means that the state Department of Consumer Protection (DCP) will soon be able to accept cannabis business applications, though the timeline for each type of licensee varies. There will be two separate lotteries: a general lottery and a social equity lottery. The first applications will open for social equity applicants on February 3 and last 90 days. SEC will ensure that those selected through that lottery meet the right standards, which means there must be at least 65 percent ownership or control of the business by people who “meet the income and residency requirements for a social equity applicant outlined in the law,” DCP said in a press release. People who fall under the “Disproportionately Impacted Areas” category can also pay a $3 million fee to get a cultivator license without going through the lottery. For those in the general lottery category—which involves licensing for retailers, micro-cultivators, delivery services, transporters and more—there will also be a 90-day application period starting at different times from February 3 through March 24. Regulators say there will likely be a second lottery period for most license types in the second half of 2022

Kyle Jaeger, Marijuana Moment, 01/05/2022 08:43:00

Open article: https://www.marijuanamoment.net/connecticut-marijuana-business-license-applications-will-be-accepted-starting-next-month-officials-announce/

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Rhode Island Lawmakers Near Marijuana Legalization Deal, But Governor Not Sold On Key Provision

Rhode Island Lawmakers Near Marijuana Legalization Deal, But Governor Not Sold On Key Provision

Key Rhode Island lawmakers say they are nearing an agreement on a marijuana legalization bill that they plan to introduce within days. But one part of the deal might jeopardize support from the governor. Legislators have been in talks for months to reconcile competing legalization proposals that have been brought forward by the House, Senate, and governor’s office. Many issues have been resolved over the course of negotiations, but the question of who should be in charge of regulating the program—an existing agency or a newly created body—has been a sticking point. Lawmakers are now signaling that the best route to satisfy both sides would be to create a compromise approach where a state agency like the Department of Business Regulation (DBR) and a new independent cannabis commission would each play a role. House Speaker Joseph Sherkarchi (D) said in opening remarks at the start of the 2022 session on Tuesday that lawmakers have “spent months analyzing the complex issue of marijuana legalization.” “The House and Senate intend to soon have a draft of legislation ready, which will serve as a framework to begin a robust public hearing process,” he said. “We may not be the first state to legalize marijuana, but our goal is to do it in a way that is best for all of Rhode Islanders.” The speaker said in a recent interview with The Boston Globe that lawmakers “have come together on a framework that will probably be introduced in mid-January.” That will likely include a proposal to create a “hybrid model” for regulating the market. But Gov. Dan McKee (D), who proposed having DBR itself regulate the cannabis industry in legalization legislation he filed last year, hasn’t yet signed off on the hybrid idea, Rep. Scott Slater (D) told Marijuana Moment.

Kyle Jaeger, Marijuana Moment, 01/04/2022 15:52:00

Open article: https://www.marijuanamoment.net/rhode-island-lawmakers-near-marijuana-legalization-deal-but-governor-not-sold-on-key-provision/

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Pennsylvania Gov tells lawmakers to stop stalling legalization, but will it help?

Pennsylvania Gov tells lawmakers to stop stalling legalization, but will it help?

In late December, Pennsylvania Gov. Tom Wolf took to Twitter to light a fire under the state legislature to end cannabis prohibition statewide. “Pennsylvanians have spoken, and they want to see us legalize recreational marijuana,” Gov. Wolf wrote via his official social media account. But it’s the “how” of the matter that has lawmakers in the Keystone State divided. Wolf has steadily pushed for “efforts to restore justice to Pennsylvanians who have been over-punished for marijuana offenses.” And his recent tweet included a signal to residents that he’s not the one stalling progress toward recreational sales. “I’m for it — I just want to be sure we also include measures to restore justice to those who have been harmed by the War on Drugs,” he added, before saying: “Legislators, let’s get this done for PA. Lawmakers in PA are mostly in agreement that weed should be legal. They just can’t agree on how to structure a recreational market. The main disagreement centers around how to allocate the tax revenue that recreational weed will generate. Right now, there are three separate frameworks for legalization, with six different representatives carving paths to the same destination.

Sarah Gethers, Leafly, 01/04/2022 15:41:00

Open article: https://www.leafly.com/news/politics/pennsylvania-gov-tells-lawmakers-to-stop-stalling-legalization-but-will-it-help

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