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Featured Articles
This Cannabis Fund Is Behind Some of the Biggest Ancillary Players in the Industry
Exclusive Interview with Casa Verde Capital Managing Partner Karan Wadhera Casa Verde Capital has been funding cannabis companies for six years. The firm has a lot of name recognition, thanks in part to its relationship with Snoop Dogg, and it has backed some major...
Sioux Falls cannabis company to open county’s 1st marijuana dispensary
Ten years ago, Emmet Reistroffer was standing in front of the Minnehaha County Administration building petitioning for medical cannabis. Now, as COO of Genesis Farms LLC, Reistroffer is celebrating the beginning stages of bringing Minnehaha County its first medical...
State Treasurers Discuss Marijuana Banking Challenges At Annual Conference With Congressional Officials
State treasures from across the U.S. participated in a panel on Tuesday that focused on federal marijuana banking reform as part of a three-day conference organized by the National Association of State Treasurers (NAST) that was attended by stakeholders and...
Cannabis Bonds Can Solve New York’s Billion-Dollar Social Equity Problem
Diversity and access to capital are the most significant policy challenges facing New York’s adult-use cannabis market. The Marijuana Regulation and Tax Act (MRTA), along with Governor Kathy Hochul’s (D) newly announced Seeding Opportunity Initiative, takes steps...
Pennsylvania Cannabis Hearings Only Presented ‘One Side,’ Left Out SAM
Pennsylvania lawmakers attempting to exercise due diligence on crafting adult-use cannabis legislation have taken a one-sided approach, according to one legislator. The state’s Senate Law & Justice Committee held a series of three hearings, each extending beyond...
Georgia Lawmakers Consider Legislation to Redo Medical Cannabis Licensing Process
Georgia lawmakers who have been searching for a way to jumpstart the state’s stalled medical cannabis program made progress on March 14 when a House committee approved legislation that would allow regulators to redo the licensing process, according to Capitol Beat....
Featured Articles
Biden Has ‘Every Intention’ Of Using Clemency Power And Is Looking At People With Drug Convictions, White House Says
President Joe Biden has “every intention of using his clemency power,” White House Press Secretary Jen Psaki said on Tuesday. But while the administration is “looking at” relief for non-violent drug offenders, she again declined to give specifics about when any presidential action might actually happen. Advocates and some lawmakers have grown impatient with the president as his first year in office comes to a close. Biden campaigned on cannabis reform, promising that he would push for decriminalization, rescheduling and ensuring that people aren’t locked up over marijuana. Marijuana Moment partnered with More Perfect Union this week to shed light on exactly what Biden’s administration can do when it comes to cannabis. Watch below: Asked at a press briefing whether Biden would be following the tradition of issuing pardons or commutations “in the spirit of the holiday” as the year comes to an end, Psaki said simply, “I don’t have anything to preview at this time.” “I would just reiterate that the president has every intention of using his clemency power,” she said. “And there has been some reporting which is accurate out there about looking at non-violent drug offenders, but I don’t have anything to update you on at this point in time.”
Tom Angell, Marijuana Moment, 12/23/2021 06:24:00
A deal has been finalized with a German company dedicated to the development of cannabinoid-based medicines called Cpharm.
A few weeks ago, the Taliban regime in Afghanistan announced that it had reached an agreement with a company to grow and manufacture cannabis products in the country. Through social media, the Ministry of Interior reported that a company called Cpharm would make an investment of more than $400 million to create a factory to produce marijuana. What Happened? A media scramble set the spotlight on a small consulting firm outside Sydney, Australia, called Cpharm. Quickly, through a statement, the company denied having any relationship with the regime. “We have no relationship with cannabis or the Taliban. We have no idea where the Taliban statement has come from in the media and we want to assure everyone that it must not be related to Cpharm Pty Ltd Australia,” they assured. After the media hype, Qari Saeed Khosty, the Taliban spokesman, tweeted to set the record straight: The deal had been finalized with a German company dedicated to the development of cannabinoid-based medicines called Cpharm.
El Planteo, The Fresh Toast, 12/22/2021 14:00:00
Thailand Set to Expand Laws on Cannabis Use
Authorities in Thailand plan to extend the scope of cannabis use in the country, which has been afflicted by the availability of cheap narcotics. In a recent interview, Anutin Charnvirakul, the country’s Minister of Health, stated that he was advocating for new legislation that would allow licensed marijuana cultivators to use whole plants for commercial and medicinal purposes. Current law opposes this, with licensed growers only being allowed to use the plant’s stalks, stems, leaves, and roots. The partial ban on the plant’s other parts was approved during the country’s legalization process for cannabis as the cannabis plant’s seeds, buds and flowers usually contain high amounts of THC. THC is the main psychoactive component found in the marijuana plant, which induces a high. Anutin stated that by the end of 2022, the use of the entire marijuana plant will be legalized, urging licensed cultivators to produce more plants for supplementary income. Under the new law, every household will also be permitted to grow six plants of marijuana for limited sales to add to their income and also for personal use.
CannabisNewsWire, 12/22/2021 16:20:00
Texas CBD retailers face employee overtime lawsuit
Two Texas CBD stores are being sued by a former employee who says they illegally scammed workers of overtime pay. The lawsuit filed Monday accuses two CBD USA Plus franchises managed by Jay Ashley and Jamie Ashley of having workers shuffle between stores in Sherman and Denton, both in North Texas, to avoid paying overtime. Former employee Colin Ross says that the Ashleys, a married couple, jointly supervised the stores. But they maintained separate business names and sent workers checks under the different business names to skirt federal labor rules on overtime pay, Ross argues. The Ashleys live in Oklahoma, where they own three CBD USA Plus franchises. CBD USA Plus has more than 80 locations. The company did not immediately comment on the overtime lawsuit to Law 360, which first reported the case.
420 Intel – Marijuana Industry News, 12/22/2021 19:00:00
Federal law still treats marijuana as an illegal drug, creating headaches for states
Most states in the U.S. are in violation of a major federal drug statute. The 1971 Controlled Substances Act lists marijuana in the most dangerous category defined in the law, on par with cocaine and heroin because of its supposed potential for abuse and lack of medical applications. But 36 states plus the District of Columbia allow either full legalization for adult use or wide-scale medical use, putting them at odds with federal law. Congress so far has been unable to come up with a solution, despite support from leading Democrats for a smoother relationship between the states and the federal government. State acceptance happened quickly, with Colorado and Washington the first to legalize adult-use less than 10 years ago. By the first of the year, marijuana possession will be legal for all adults in 18 states — including Arizona, Colorado, Maine, Michigan, Montana, Nevada, New Jersey, New Mexico, Oregon, and Virginia — that make up 44% of the national population. That number has recently been growing: The governors of New Mexico and Virginia signed their legalization laws just this year. Montana’s, enacted through a ballot measure in 2020, will go into effect on New Year’s Day. The disconnect between a federal ban and increasing state liberalization has not stopped the marijuana industry from blossoming where it is legal. Since Colorado and Washington’s moves in December 2012, the federal government has largely stayed away from enforcing federal law in states where the drug is legal. But the policy gap widens as more states join in legalization, touching on everything from banking to tribal jurisdiction.
420 Intel – Marijuana Industry News, 12/22/2021 19:00:00
Corporate Cannabis Takeover? Assessing 5 Big Industries Already At The Table
As more big business movers and shakers appear to be ratcheting up their incursions into the cannabis industry, industry advocates are stepping up their defense. In March, the U.S. saw the creation of a federal lobbying group – the Coalition for Cannabis Policy, Education and Regulation – with the goal of advancing a federal regulatory framework for cannabis, and including members from both the tobacco and alcohol industry. Kassandra Frederique, executive director of the Drug Policy Alliance issued a follow-up statement that same month: “We have long been concerned about the entry of large commercial interests into the legal marijuana market. Big Alcohol and Tobacco have an abysmal track record of using predatory tactics to sell their products and build their brands – often targeting low-income communities of color and fighting public health regulations that would protect people. It is predictable, but reprehensible, that industries that have allowed the arbitrary distinction between licit and illicit drugs to stand for so long now want to end a form of prohibition in order to bolster their bottom line.” Ironically, the cannabis industry is facing its own big-time moment. The cannabis legalization bill, The Cannabis Administration and Opportunity Act, currently being discussed in Congress shows that the industry has reached the status of a big business by virtue of its accelerating sales and continued growth across the country, and identifies certain restrictions that some interpret as worrisome to any of the cannabis companies that have partnerships with Big Alcohol and Big Tobacco. How that will pan out is still to be determined.
420 Intel – Marijuana Industry News, 12/22/2021 19:00:00
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Colorado launches cannabis social equity grant program
Colorado has launched a pilot grant program to help social equity cannabis applicants develop and grow their businesses. Colorado Gov. Jared Polis last week announced the launch of a state grant program for cannabis social equity companies, offering licensed operators...
Online Hemp Sales Could Invite Impending Federal Crackdown
Online sales of hemp products – specifically delta-9 THC products that are derived from hemp – are likely to see a federal regulatory crackdown in the coming months. Congress is currently mulling the 2023 Farm Bill, while state lawmakers across the country are slated...
Louisiana widening access to medical marijuana
More Louisiana residents will have access to medical marijuana under a significant expansion of the state's therapeutic cannabis program that was signed into law by Gov. John Bel Edwards. The changes in the law, which take effect in August, allow doctors to recommend...
Akanda Corp. Announces Pricing of Initial Public Offering
Akanda Corp. , an international medical cannabis company, today announced the pricing of its initial public offering of 4,000,000 common shares at a price of $4.00 per share to the public for a total of $16,000,000 of gross proceeds to the Company (the “Offering”),...
Colorado Lawmakers Want More Marijuana Industry Oversight
A group of Colorado lawmakers wants to increase oversight of the state’s marijuana businesses, but the cannabis industry is ready to fight the proposal. Senate Bill 149, a nonpartisan bill introduced on March 7, proposes new reporting requirements for such marijuana...
Drop The 25% Cannabis Tax, Senator Schumer!
Federal marijuana taxes could hit 25% under Senator Chuck Schumer’s legalization plan. The vast majority of Americans want to have legal cannabis on a federal level, there are numerous polls that support this notion. The problem, however, comes down to “how” it is...
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