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Featured Articles

DEA-Approved Cannabis Cultivator Debuts on NASDAQ

DEA-Approved Cannabis Cultivator Debuts on NASDAQ

Bright Green Corp., a Florida-based cannabis company, made history last week by being the first “plant-touching” company to list its shares on a major securities exchange within the United States. The company, which boasts of being in possession of conditional...

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Featured Articles

This New York State Senator just presented 2 new cannabis bills

This New York State Senator just presented 2 new cannabis bills

Senator Jeremy Cooney (D-Rochester) announced Wednesday a package of two cannabis bills designed to lay the additional groundwork for the future of legalized cannabis in New York State. Senate Bill S.9217 would permit New Yorkers to cultivate cannabis in licensed personal cultivation facilities. Current regulations allow for personal cultivation eighteen months after the first adult-use sales commence. However, the plants must be grown at the individual’s personal residence. (Benzinga) These guidelines would exclude those without sufficient open space, especially renters/tenants. This bill would authorize the Cannabis Control Board to make regulations allowing for personal cultivation in specified licensed facilities open to adult use. This will ensure individuals who do not have a residence that is suitable for personal cultivation, such as most renters and individuals living in urban communities, still have the opportunity to utilize personal cultivation in a safe and controlled setting. This is about achieving equity in the home growth process. Senate Bill S.9218 would allow certified medical cannabis patients from other states to access NYS medical dispensaries provided they present sufficient documentation. States such as Nevada, Michigan, Ohio, and Missouri already allow for reciprocity with other states’ medical cannabis programs.

420 Intel – Marijuana Industry News, 05/18/2022 20:00:00

Open article: https://420intel.com/articles/2022/05/19/new-york-state-senator-just-presented-2-new-cannabis-bills-grow-your-own-and

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Massachusetts Marijuana Establishments Surpass $3 Billion in Gross Sales

Massachusetts Marijuana Establishments Surpass $3 Billion in Gross Sales

Aggregate data recorded in Metrc by 216 Marijuana Retailers and 11 delivery businesses operating statewide showed that on May 14, $3,001,846,490 in gross sales had been generated since the first two adult-use retail stores on the East Coast opened for business on November 20, 2018. “These sales figures illustrate the steady growth Massachusetts residents expected when they voted to legalize adult-use cannabis in 2016, and the Commission was appointed in 2017,” Commission Executive Director Shawn Collins said. “I’m proud our staff continues to work diligently to ensure applicants move through our licensing process efficiently, Marijuana Establishments operate within a safe, accessible, and effective regulated market, and our work to ensure equity in the industry and the agency remains front and center.” This milestone comes just eight months after the agency reported Marijuana Establishments surpassed $2 billion in gross sales on August 31, 2021. Since then, 54 more Marijuana Retailers have opened for business across the Commonwealth, in addition to five more Marijuana Couriers. Currently, one Microbusiness with a Delivery Endorsement, seven Marijuana Delivery Couriers, and three Marijuana Delivery Operators are operating in Massachusetts.

Cannabis Law Report, 05/19/2022 01:57:17

Open article: https://cannabislaw.report/press-release-massachusetts-marijuana-establishments-surpass-3-billion-in-gross-sales/

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State Marijuana Regulators Say Banking Fix Will Make Their Jobs Easier In Addition To Helping Businesses

State Marijuana Regulators Say Banking Fix Will Make Their Jobs Easier In Addition To Helping Businesses

As lawmakers work to advance marijuana banking reform, a coalition of cannabis regulators representing 40 U.S. states and territories are explaining to Congress just what the current lack of access to traditional financial services means—not just for the businesses and the programs they oversee, but for the regulators navigating this federal-state conflict themselves. The non-partisan Cannabis Regulators Association (CANNRA), which doesn’t take a stand on legalization itself, sent a letter to congressional leaders on Wednesday, outlining three key areas of concern for their states’ respective marijuana markets under the status quo of federal prohibition. The letter doesn’t specifically endorse the Secure and Fair Enforcement (SAFE) Banking Act—which is a major component of a debate playing out in a bicameral conference committee where lawmakers are seeking to attach the legislation’s language to a large-scale manufacturing bill. But it does say that the “lack of safe banking and financial services for the cannabis industry and for those indirectly involved in cannabis marketplaces has become a dire public safety issue.”

Kyle Jaeger, Marijuana Moment, 05/18/2022 11:27:00

Open article: https://www.marijuanamoment.net/state-marijuana-regulators-say-banking-fix-will-make-their-jobs-easier-in-addition-to-helping-businesses/

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Local Washington Lawmakers Approve Cannabis Safety Taskforce Amid Wave Of Robberies

Local Washington Lawmakers Approve Cannabis Safety Taskforce Amid Wave Of Robberies

King County Council has voted for a cannabis safety task force to aid in the prevention of crime targeting marijuana businesses. The legislation was sponsored by King County Councilmembers Reagan Dunn and Jeanne Kohl-Welles and passed by the King County Council on Tuesday. Approximately 70 robberies have been recorded at cannabis retailers across the state of Washington since the beginning of 2022, according to the Washington Cannabusiness Association (WACA). A dedicated cannabis safety taskforce will be able to focus on keeping our local communities safe from the pattern of armed robberies targeting cannabis stores and manufacturers across the region,” Dunn said in a statement. “This legislation sends a strong message that King County plans to hold those committing these crimes responsible for their actions.” The high rate of crime in cannabis stores has been widely attributed to federal banking regulations on cannabis sales, which has resulted in cannabis shops operating as cash-only businesses. This makes dispensaries and other cannabis businesses tempting targets for robberies.

Marijuana Moment, Marijuana Moment, 05/19/2022 09:44:00

Open article: https://www.marijuanamoment.net/local-washington-lawmakers-approve-cannabis-safety-taskforce-amid-wave-of-robberies/

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The Great Fertilizer Shortage: Russia’s Influence on Our Crops

The Great Fertilizer Shortage: Russia’s Influence on Our Crops

The global supply chain was massively disturbed when the pandemic hit at the start of 2020, and the sanctions that have been imposed following Russia’s invasion of Ukraine this year are impacting the cannabis industry down to its roots. As the cost of fertilizer continues to skyrocket with no end in sight, cultivators, brands, and dispensaries can either feel the financial pain or seek innovative solutions to protect their margins. Advertisement The Industry Scrambles to Adjust as Fertilizer Prices Continue to Skyrocket Every supply chain has its starting point, and for cannabis products in all categories, everything begins at the cultivation facility. Whether your products or inputs are grown indoors, outdoors, or through some type of hybrid alternative, fertilizer is still an essential component in growing high-quality cannabis on a commercial scale — and it’s in short supply. “Fertilizer boosts flower production, increases yield, and helps protect the plant from disease,” said Alen Nguyen, CEO and co-founder of the procurement platform MainStem. “The big three primary nutrients that cannabis plants need in large quantities are NPK, short for nitrogen, phosphorus, and potassium. NPK is the building block of any cannabis fertilizer with important secondary nutrients including sulfur, calcium, and magnesium.”

mg Magazine – Cannabis News & Information, 05/19/2022 04:15:00

Open article: https://mgmagazine.com/business/growing-horticulture/the-great-fertilizer-shortage-russias-influence-on-our-crops/

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California Cannabis Farmers May Finally Get Some Relief

California Cannabis Farmers May Finally Get Some Relief

Residents of California often complain about high taxes, but no one pays higher taxes than the cannabis industry. In addition to the Federal 280E penalties, the cannabis industry in California is subject to a 15% state-wide excise tax, sales and use taxes that can reach up to 10.75%, and local business license taxes which are as high as 15% in some jurisdictions. On top of these excise taxes, which combined can approach 40%, there is a state cultivation tax currently imposed on cannabis flowers at a rate of $161.28/dry-weight pound (and some local jurisdictions impose additional cultivation taxes). During good times, the industry could withstand this tremendous tax burden with the price per pound of wholesale flower at between $1,500/lb (outdoor) and $3,000/lb (premium indoor). However, when wholesale prices collapsed to as low as $400/lb for outdoor flowers in the fall of 2021, growers could no longer make a profit. Following protests by desperate growers, in January 2021, Governor Newsom signaled that relief was on its way. Finally, on May 13, 2022, the governor made it official when he released his budget which proposed slashing the cultivation tax to $0 as of July 1, 2022.

Cannabis Law Report, 05/18/2022 03:22:00

Open article: https://cannabislaw.report/california-cannabis-farmers-may-finally-get-some-relief/

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