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South Dakota: Governor Signs Legislation Preserving Patients’ Home Cultivation Rights
Republican Gov. Kristi Noem has signed legislation (SB 24) into law preserving the ability of qualified patients to home cultivate limited quantities of cannabis. Voters in November 2020 overwhelmingly decided in favor of a ballot measure (Measure 26) permitting...
How Does The Ukrainian War Effect Cannabis Prices In Europe?
The ongoing situation in Ukraine has been described as the largest ground war within Europe since the Second World War ended. Many industries are being affected, including the budding cannabis industry. This article originally appeared on Cannabis.net and has been...
GOP Congressman Who Fought For Marijuana Legalization Dies, And Is Honored By Bipartisan Colleagues
Rep. Don Young (R-AK)—a rare example of a pro-legalization Republican congressman, who was one of just five GOP members of the House of Representatives to vote in favor of a bill to end marijuana prohibition—died on Friday. As the longest-serving member of the...
Will Mexico Drop Hemp from the Cannabis Law Bill?
Unfortunately, it looks like Mexico may leave hemp out of the cannabis law bill. That is right folks, after much discussion, lobbying and attempts to educate the government on cannabis legalization in Mexico (yes, we have also made our small contributions), the...
Pa. Senate panel exploring recreational cannabis legalization criticized for not hearing both sides
A state Senate panel that took the unprecedented step in Pennsylvania of exploring the issue of legalizing recreational marijuana wrapped up its series of hearings last week amid complaints that it heard only one side of the issue. Sen. Judy Ward, R-Blair, said the...
Kentucky marijuana legalization bill heads to Senate after House vote
Whole-plant products would be allowed under the measure, but patients would be required to vape them. A bill to legalize medical marijuana is headed to the Kentucky Senate, after the House of Representatives passed it on Thursday, Marijuana Moment reported. Sponsored...
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Fewer People Charged For Weed Possession In Ireland Due To New Warning Scheme
According to the College of Psychiatrists in Ireland, some 45,000 people between the ages of 15 and 34 meet the criteria for marijuana dependence. In 2021, fewer people in Ireland were charged or issued a summons for possessing drugs following the introduction of a new scheme that allows for cannabis possession to be treated with a warning, reported The Irish Times. According to Garda Press Office’s figures, as of December 14, 2021, up to 5,957 people were either charged or issued a summons in connection to drug possession for personal use compared to 11,127 in 2020 and 9,923 in 2019. This means that the number of people charged was nearly halved. The expansion of the Adult Cautioning Scheme covering section 3 of the Misuse of Drugs Act (regarding possession of illegal drugs) only covered simple marijuana possession. The cautioning scheme is run by An Garda Síochána (the Irish police dept.) along with the Office of the Director of Public Prosecutions was extended across possession of cannabis for personal use, trespassing, trading without permission, and laws relating to specific events, according to the Times.
420 Intel – Marijuana Industry News, 01/03/2022 19:00:00
Aurora Cannabis Delivers Largest Shipment to Israel
In a press release sent out today, Aurora Cannabis Inc. announced that they have delivered a C$10 million shipment of medical cannabis to Israel, the company’s largest shipment to date and possibly the largest cannabis import in Israel’s history. Aurora Cannabis Inc. sent out a press release today announcing that they have completed their largest shipment of cannabis to Israel yet. The Canadian company says the shipment of medical cannabis is worth roughly C$10 million, making it their largest shipment and possibly the largest cannabis import in Israel’s history. Aurora is working on building their market presence in Israel as they continue to focus on international expansion. They claim that they are the leading Canadian licensed producer in global medical cannabis by revenue. Miguel Martin, CEO of Aurora Cannabis Inc., says they are watching the world slowly begin to embrace cannabis just a bit more.
Cannabis Industry Journal Staff, Cannabis Industry Journal, 01/04/2022 10:48:00
$200M Cannabis and Marijuana Lending Fund Established by the StandardC Network
StandardC, a leader in cannabis & marijuana banking and financial services, announced today that its lending partner had closed the first $5 million loan from their newly established $200M fund for a leading marijuana cultivator using the StandardC platform. This partner has extensive experience in the cannabis lending industry, facilitating real estate loans and deploying growth capital for companies like Harborside, Caliva, and other multi-state operators (MSOs). While most lenders have been reticent to serve the state-licensed cannabis industry, StandardC’s lending network has broken new ground to offer cost-effective financing. These new credit facilities have expanded the capacity of the StandardC network, which can now provide enhanced banking services to over 1,500 cannabis and marijuana businesses through its network. Robert Mann, CEO of StandardC, was quoted as saying, “For too long, the cannabis industry has been unable to obtain loans and lines of credit without paying a ‘Cannabis Tax’ where lenders charge exorbitant interest and fees. Our network is enabling a consortium of lenders that can offer cost-effective real estate loans, lines of credit, and more.”
420 Intel – Marijuana Industry News, 01/04/2022 19:00:00
Emerald Holdings Buys MJBiz For $120M, Signaling Widespread Acceptance Of Booming Cannabis Industry
MJBiz confirmed Tuesday it has been acquired by the New York-headquartered b2b event and media company Emerald Holding Inc. for $120 million in cash plus potential earnouts. The deal includes MJBiz Con, one of the oldest and largest cannabis-focused trade shows, as well as related media and event brands such as award-winning publications MJBizDaily, Hemp Industry Daily, and MJBizMagazine. In October, MJBiz Con in Las Vegas gathered more than 1,200 exhibitors and 27,000 attendees. The acquisition also includes The Emerald Conference – a cannabis science event that MJBiz acquired in 2021. “MJBiz’s leading event and content portfolio, coupled with their 365-day engagement platform – which connects the entire cannabis supply chain – will diversify our collective product offerings, enhance our growth profile and enable us to deliver even greater value to our customers over the long term,” Hervé Sedky, Emerald’s president and CEO said. Why It Matters Through this acquisition, Emerald – whose largest shareholder is the Toronto-based investment manager Onex Corporation (TSE: ONEX) – will gain a notable presence in cannabis industry trade shows.
Mmp News Author, Medical Marijuana Program Connection, 01/04/2022 12:11:00
Wyoming Marijuana Activists Turn Focus To 2024 Ballot For Decriminalization And Medical Cannabis Initiatives
Wyoming activists say they’ve made solid progress in collecting signatures for a pair of ballot initiatives to decriminalize marijuana possession and legalize medical cannabis, but they didn’t get enough to make the 2022 ballot deadline and will be aiming for 2024 while simultaneously pushing the legislature to advance reform even sooner. Weather conditions, the ongoing pandemic, and late approval for their petitions by state officials made the prospect of putting legalization and decriminalization before voters this year especially challenging. Apollo Pazell, chief strategist for the campaign, which is being backed by the national Libertarian Party and Wyoming NORML, told Marijuana Moment that they’d considered “keeping teams on the ground [to collect signatures] through the holiday season, and we may have made it, but the uncertainty was too much in my opinion.” The ballot process is especially taxing for activists in Wyoming, with high threshold requirements for citizen initiatives. To have made the 2022 ballot, they would have needed to collect 41,776 valid signatures from registered voters per measure by February. Bennett Sondeno of Wyoming NORML told Marijuana Moment that activists are about 30 percent of the way through that goal, but making the deadline next month is not tenable so they are looking to turn in enough signatures by January 2023 to make the 2024 ballot. He said, “we will push for legislative action this session and next, and fall back to the 2024 election if the legislators refuse to pass something workable.” This ballot effort launched after state lawmakers advanced—but failed to pass—a bill to legalize marijuana in 2021.
Kyle Jaeger, Marijuana Moment, 01/03/2022 16:50:00
Incoming Virginia GOP Governor Won’t ‘Overturn’ Legal Marijuana Possession, But Casts Doubt On Sales
The incoming governor of Virginia says that while he’s not interested in re-criminalizing marijuana possession, which became legal in the state last summer, he feels there’s “still work to be done” before he gets behind creating a market for commercial sales and production. Advocates have been closely following Gov.-elect Glenn Youngkin (R) as he prepares to take office later this month, with some expressing concerns that he may seek to interfere in the implementation of the cannabis legalization law that Democratic lawmakers passed last year. In an interview with Virginia Business that was published on Friday, Youngkin made clear that he “will not seek to overturn the law on personal possession,” but he’s not making the same commitment with respect to cannabis commercialization. “I’m not against it, but there’s a lot of work to be done,” he said, adding that there are “some nonstarters” in what Democrats passed, including provisions setting labor union requirements for marijuana businesses. He also cited “concerns expressed by law enforcement in how the gap in the laws can actually be enforced.” Youngkin added that “there’s a real need to make sure that we aren’t promoting an anti-competitive industry” and “there are preferences to make sure that all participants in the industry are qualified to do the industry well.” A Virginia legislature marijuana oversight panel looked into issues like licensing and regulatory authority at a meeting last month, and members voted to recommend expediting the timeline for launching retail sales by one year to January 2023. It remains to be seen whether the full legislature will ultimately adopt that recommendation when members reconvene this month under new incoming Republican leadership in the House of Delegates and with a skeptical new governor in office.
Kyle Jaeger, Marijuana Moment, 01/03/2022 12:23:00
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Cannabis industry goes all-in on banking push before midterms
The cannabis industry is pushing lawmakers to get a marijuana reform bill to President Biden’s desk before the November midterms, fearing that a Republican takeover of Congress could doom its chances. In an in-person lobbying blitz last week, more than 20 chief...
End of an era as cannabis giant Tilray sells land and leaves Nanaimo
The pioneering Nanaimo cannabis giant Tilray has finally pulled out of the city, taking with it roughly 170 jobs. Last week, it found a conditional buyer for its flagship property in the city which was listed for more than $18 million. Canada’s first legal medical...
Akanda Corp. Common Shares Set to Commence Trading Today on Nasdaq Under Ticker Symbol “AKAN”
Akanda Corp an international medical cannabis company, today announced the Company’s common shares are scheduled to commence trading this morning Eastern Time on The Nasdaq Capital Market (the “Nasdaq”) under the ticker symbol “AKAN”. “Becoming the first UK cannabis...
Federal Marijuana Cases Continue To Decline, With Fewer Than 1,000 Cannabis Charges In 2021
Federal prosecutions over marijuana dropped again in 2021, with fewer than 1,000 people charged in cannabis trafficking cases—yet another sign that the plant is becoming a lower enforcement priority as the legalization movement scores wins in more states. There were...
Kentucky House Passes Medical Marijuana Legalization Bill
The Kentucky House of Representatives on Thursday passed a bill to legalize medical marijuana in the state. The legislation now heads to the Senate. The measure, sponsored by Rep. Jason Nemes (R), was taken up by the full chamber about a week after clearing the House...
Kansas Senators Hold First Of Three Medical Marijuana Legalization Hearings In Committee
A Rhode Island Senate committee on Tuesday held the first hearing on a much-anticipated bill to legalize marijuana in the state. But while activists are eager to end cannabis criminalization, the measure faced pushback over a key provision concerning the proposed...
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