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Featured Articles
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...
Featured Articles
KEY Investment Partners Announces $30 Million Final Close of Cannabis-Focused Venture Fund
KEY Investment Partners LLC (“KEY”) today announced the closing of its cannabis-focused venture fund (“The Fund”) with approximately $30 million in aggregate capital commitments. KEY Investment Partners provides strategic capital to high-growth companies that are well-positioned to develop the infrastructure of the cannabis industry. Leveraging KEY’s extensive network, cannabis industry expertise, and over 40 years of institutional experience in the private sector, The Fund has been designed to help cannabis companies accelerate their growth by delivering commercial opportunities and driving strategic initiatives. Pete Karabas, Founding Partner at KEY, stated, “the cannabis industry continues to outperform growth projections and we believe KEY is well-positioned to capitalize on the increased pace of both M&A activity and state-by-state legalization that we expect to see in 2022.” When asked about KEY’s existing portfolio companies, KEY Founding Partner Tiby Erdely commented, “It’s a challenge to navigate the cannabis sector and we are proud to have partnered with some of the brightest operators in the industry. We are already seeing synergies across our portfolio and are excited to continue supporting our portfolio companies as they grow in the coming years.”
Cannabis Law Report, 12/21/2021 22:06:00
Top Federal Health Official Says States Can Use Legal Marijuana Revenue To Help Deter Youth Use
A leading marijuana advocacy group on Tuesday announced a push to ensure that all California medical facilities are prepared for the implementation of a new law requiring them to permit certain patients to use cannabis while in their care. Gov. Gavin Newsom (D) signed the legislation—known as “Ryan’s Law” after the patient who inspired the reform—back in September. Now Americans for Safe Access (ASA) is working to give hospitals, doctors, and patients the resources they need to understand the policy and get into compliance. ASA will serve as both an educational source for relevant facilities and practitioners as well as a watchdog for cases of non-compliance. To that end, it distributed an implementation guide to more than 2,000 health care facilities that includes a summary of the law, sample guidelines and policies for hospitals, model waivers for patients and more. “It is our hope that these resources will help healthcare facilities implement this important law for patients,” ASA President Steph Sherer said in a press release. “In our watchdog capacity, ASA will be monitoring to assure state-wide compliance.”Newsom vetoed an earlier version of the Ryan’s Law bill in 2019 out of concerns about potential federal implications for healthcare facilities that permit marijuana use. But he was apparently convinced to move forward this year. Representatives from both the U.S. Department of Health and Human Services and the governor’s office reached out to the bill’s sponsor, Sen. Ben Hueso (D), to say that they are aware of the issue and are looking into it.
Kyle Jaeger, Marijuana Moment, 12/21/2021 13:36:00
Top Federal Health Official Says States Can Use Legal Marijuana Revenue To Help Deter Youth Use
A federal official with a top health agency recently gave some tips to states that are moving to legalize marijuana, specifically as it concerns deterring youth use. Substance Abuse and Mental Health Services Administration (SAMHSA) Acting Deputy Assistant Secretary Tom Coderre spoke about cannabis policy during a webinar hosted last week by the prohibitionist group Smart Approaches To Marijuana (SAM). While he made clear that he’s concerned about youth marijuana consumption and cannabis commercialization generally, it was notable that the SAMHSA official seemed to recognize the inevitability of legalization, going so far as to suggest that states could use marijuana tax revenue to support public education programs. “We have to figure out what to do to grapple with how to best regulate this new market, and there are several evidence-based prevention approaches that our stakeholders—local, state and federal government—can consider for preventing marijuana use,” Coderre said. He first listed two things that legal marijuana states are already broadly doing: imposing taxes on cannabis sales and preventing retailers from selling marijuana to people under 21 “to help prevent, or at least reduce, younger age groups” from accessing the products.
Kyle Jaeger, Marijuana Moment, 12/21/2021 13:36:00
President Biden Comes Under Pressure From All Sides Over His Cannabis Legalization Stance
Adding to the chorus of lawmakers pressuring President Joe Biden on cannabis legalization, on Monday Rep. Alexandria Ocasio-Cortez (D-NY) urged the President via Twitter to take unilateral action on cannabis policy. “Biden needs to lean on his executive authority now. He has been delaying and underutilizing it so far,” AOC tweeted “There is an enormous amount he can do on climate, student debt, immigration, cannabis, health care, and more. Time is running out—we need to move and use alternative paths.” The congresswoman was among the first to suggest that Biden use executive authority to advance marijuana reform. Prior to Ocasio-Cortez’s plea, not her first, Republican lawmakers Dave Joyce (R-OH) and Don Young (R-AK), both co-chairs of the Congressional Cannabis Caucus, sent a letter to President Biden and Vice President Kamala Harris recently urging the administration to reschedule cannabis under federal law. “As both legislative chambers continue to debate the merits of various common-sense proposals on the issue of cannabis reform and a complete end to federal prohibition garners more and more bipartisan support, your administration’s absence from these debates and lack of action, which is inconsistent with previous statements you have made on the topic, is of serious concern,” the lawmakers wrote. In addition, they noted that further, cannabis’ Schedule I classification “puts the U.S. far behind many of our international partners and scientific competitors.”
Benzinga Staff Writer, The Fresh Toast, 12/21/2021 10:00:00
Congress to take up marijuana reform this spring says The Hill
Congress to take up marijuana reform this spring says The Hill We’ll believe it when we see it! Here we go again? Congressional Democrats are gearing up for a sweeping set of initiatives aimed at decriminalizing marijuana that they plan to take action on this spring. The federal proposals seek to establish 21st-century banking services for the nearly $18 billion industry and purge the criminal records of thousands of marijuana offenders. “The growing bipartisan momentum for cannabis reform shows that Congress is primed for progress in 2022, and we are closer than ever to bringing our cannabis policies and laws in line with the American people,” Reps. Earl Blumenauer (D-Ore.) and Barbara Lee (D-Calif.) wrote in a memo to the Congressional Cannabis Caucus on Thursday. Nearly 70 percent of Americans — including roughly half of Republicans — support legalizing marijuana, the memo noted citing a 2020 Gallup poll. The past year saw five states join in allowing recreational cannabis — New Mexico, New Jersey, Virginia, and Connecticut — as well as “a wealth of policy ideas” in Congress “targeted at ending cannabis prohibition,” the lawmakers noted.
Cannabis Law Report, 12/19/2021 20:39:00
Germany’s Cannabis Industry Association (BvCW) elects its first executive committee
Germany’s Cannabis Industry Association (BvCW) has elected its first executive committee. The group retained Stefan Meyer, Neo-Livia GmbH, as president, and named Marijn Roersch van der Hoogte, IG Nutzhanf GbR, and Dirk Heitepriem, Canopy Growth Deutschland GmbH, vice presidents. Elected to the association’s board were: Philipp Ferrer, Weedo Lifestyle & Media GmbH; Lisa Haag, MJ Universe GmbH; Sven Kalies, ThankYouJane GmbH; Joscha Krauss, MH medical hemp GmbH; Benjamin Patock, Boveda Inc.; Armin Prasch, FoliuMed Pharma GmbH; and attorney Ferdinand Weis. The appointments were confirmed during the group’s general meeting Dec. 17. BvCW also announced it has added a membership category for micro and small businesses, setting an annual fee of €365. BvCW, with more than 50 members, focuses on medical cannabis, industrial hemp & food, technology, trade & services, and CBD and other cannabinoids.
Cannabis Law Report, 12/20/2021 05:43:00
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Key Pennsylvania Senate Committee Completes Final Marijuana Legalization Hearing To Inform Reform Legislation
A key Pennsylvania Senate committee on Monday held the last of three scheduled hearings on marijuana legalization, taking testimony that’s designed to help inform a forthcoming reform bill that the panel’s chairman is actively drafting. The Senate Law and Justice...
Feds Reveal Which Industries Drug Test Workers The Most And Least In New Report
A new federal labor report indicates that drug testing rates at U.S. workplaces have fallen considerably over the past quarter-century, as states began ending marijuana prohibition—and the data offers a glance at what types of industries are screening workers for...
New York’s convicts-first approach to pot draws praise, questions
A criminal record doesn't always hurt New York state’s plan to let people with past convictions for marijuana crimes become the first to sell it legally is admirable but faces some major challenges. The dynamic pits what’s now referred to as the “legacy market” of...
Following Five Years of Medical Cannabis, Germany is Poised to be the Adult-Use Capital of Europe
Germany celebrated the fifth anniversary of medical cannabis legalization. It has been an eventful five years with plenty of challenges and limitations to navigate, overcome and learn from. During the five-year run, Germany’s medical cannabis market has experienced...
Budget deal is latest sign of Democrats’ empty weed promises
Fourteen months after taking control of the federal government, they’ve done nothing to loosen federal marijuana restrictions. On the brink of gaining control in Washington, Sen. Chuck Schumer said emphatically in 2020 that “I am going to do EVERYTHING I can to end...
Georgia tries to find way out of medical marijuana impasse
They’ve found no relief, despite a state law passed three years ago that authorized six companies to sell cannabis oil to doctor-approved patients. Georgia legislators are trying to break the bureaucratic deadlock of their own creation, with protests and...
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