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Budget deal is latest sign of Democrats’ empty weed promises
That wasn’t the only weed provision left on the cutting room floor. The spending bill also failed to protect state-regulated recreational cannabis markets, nor did it expand medical marijuana research or protect veterans who use cannabis — two issues with widespread...
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...
Best Performing Stocks On The World’s First Marijuana ETF
Horizons Marijuana Life Sciences Index ETF (TSX:) is the world’s first Marijuana ETF. An exchange-traded fund (ETF) can be described as a basket of investments that focus on a particular asset. In the case of HMMJ, that asset is Marijuana. ETFs are traded daily at...
Federal Transportation Agency Proposes New Marijuana Testing Policies To Reduce False Positives
The U.S. Department of Transportation (DOT) is proposing a new drug testing policy that could have significant implications for workers who use marijuana off the job. Current DOT policy mandates urine testing, which advocates and experts view as problematic because,...
Kentucky Lawmakers Approve Medical Marijuana Legalization Bill In Committee
A key Kentucky House committee on Thursday approved a bill to legalize medical marijuana in the state. The legislation, sponsored by Rep. Jason Nemes (R), cleared the House Judiciary Committee in a 15-1 vote. Meanwhile, separate adult-use and medical legalization...
D.C. Remains on Cannabis Sales Sideline in New Omnibus Bill
Washington, D.C., residents will have to ride on without access to commercial cannabis sales for at least another year. Despite the district’s voters approving adult-use cannabis via Initiative 71 in the November 2014 election, a rider was introduced by Maryland U.S....
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Village Farms International to Voluntarily Delist from Toronto Stock Exchange; Shares to Remain Listed on Nasdaq 6
Village Farms International, Inc. today announced that it has applied and received approval for voluntary delisting of its common shares from the Toronto Stock Exchange (“TSX”). With Village Farms’ common shares being listed on the Nasdaq Capital Market (“Nasdaq”) since February 2019, the Company believes the trading volume of its common shares on the TSX no longer justifies the expense and administrative requirements associated with maintaining a TSX listing. The Company also believes Nasdaq provides its shareholders with sufficient liquidity, and the cost savings from the elimination of TSX listing fees and associated professional fees, as well as the savings in time and effort of management required to maintain a dual listing, can be redirected to initiatives intended to generate shareholder value. Effective at the close of markets on December 31, 2021, Village Farms’ common shares will no longer be listed or traded on the TSX. Following delisting from the TSX, Village Farms’ shareholders can trade their common shares through their brokers on Nasdaq.
Cannabis Law Report, 12/14/2021 22:36:31
Monterey County Reveals Contamination in Illicit Cannabis Samples
Before buying cannabis from the black market in Monterey County, keep in mind that the product you are purchasing may be tainted by a substance not approved for human consumption. After a year of seizing samples of illicit cannabis from unlicensed cannabis cultivations, clandestine concentrate laboratories, and unlicensed distributors, Monterey County officials gathered Monday morning to announce the outcome of testing the collection of products for contamination. The results, officials explained, illustrate why one’s health and safety are best protected by purchasing and consuming products by legal means. Of the 55 random samples of illegal cannabis pulled from across the county, 84% of products failed official laboratory testing due to contamination. A total of 58% failed in total or part due to signs of water and mold activity, while 42% did not pass based on some degree of heavy metal detection. The presence of pesticides was found in 37% of samples, while 10% revealed some presence of microbial impurities, including salmonella in one case.
Tess Kenny, The Mercury News, 12/14/2021 19:00:00
New Mexico Credit Union Receives the Nation’s First Financial Institution Certification for Cannabis and Hemp Banking Protocols
New Mexico Attorney General Hector Balderas announces that New Mexico-based US Eagle Federal Credit Union is the first financial institution to become certified in the country for outstanding U.S. monetary banking protocols in banking cannabis and hemp operations. This honor is part of a financial services certification program overseen by the Policy Center for Public Health & Safety (PH&S) in collaboration with state attorneys general. It is also part of a broader certification effort being implemented by ASTM international and PH&S. “The marijuana industry will soon be exploding in New Mexico, and it is important to have banking safeguards to mitigate illicit and criminal conduct. This is an important first step in partnering with legally compliant businesses in the marketplace,” said New Mexico Attorney General Hector Balderas. The certification brings banking and financial transparency to ensure the safety of the monetary system for institutions banking hemp and cannabis.
Cannabis Law Report, 12/14/2021 22:53:00
Canopy growth divest German pharmaceutical subsidiary at massive discount to 2019 acquisition price
Canopy Growth Corporation has entered into an agreement to divest its subsidiary business, C3 Cannabinoid Compound Company GmbH (“C3”), to Dermapharm Holding SE, a European pharmaceutical company headquartered in Grünwald, Germany. The C3 business develops and manufactures pharmaceutical products and is comprised of Spectrum Therapeutics GmbH, based in Neumarkt-in-der-Oberpfalz, Germany, THC Pharm GmbH The Health Concept, based in Frankfurt, Germany, and Spectrum Therapeutics Austria GmbH, based in Vienna, Austria. With the divesture of C3, Canopy Growth is continuing its evolution into a CPG-modelled organization and furthering its strategy of driving focus and consistent business across its core markets. The Company will continue to leverage its high-quality supply of Canadian cannabis products for the medical channel in its core international markets, including Germany, while also serving adult-use consumers in Canada.
Published Ncv Newswire, New Cannabis Ventures, 12/15/2021 08:50:00
Federal Scientists Say Onerous U.S. Marijuana Regulations Hinder Urgent Research
In a new paper published by the National Cancer Institute, a research team of six—including authors from federal agencies such as the National Institute on Drug Abuse (NIDA), National Institutes of Health (NIH) and Food and Drug Administration (FDA)—turn a critical eye on cannabis regulatory systems in the United States, writing that administrative burdens stifle much-needed scientific investigation into the drug’s potential health applications and safety concerns. “Conflicting federal and state cannabis regulations hinder research in several ways,” says the article, published this month in the Journal of the National Cancer Institute Monographs, “including the inability of researchers to access products that are legal in their state, a lack of standardization and quality control of cannabis and cannabis-derived products within and across states, and no national oversight of this standardization and quality control or the industry.” “The most obvious regulatory hurdle in conducting cannabis and cannabinoid research is the schedule I status of cannabis.” With most states having legalized marijuana in some form, an array of new and relatively unstudied products have appeared on the consumer and medical markets, the authors write.
Ben Adlin, Marijuana Moment, 12/14/2021 14:24:00
Malta Lawmakers Approve Marijuana Legalization Bill, With President’s Signature Expected Soon
Malta’s Parliament on Tuesday approved a bill to legalize marijuana, setting the country up as the first in Europe to enact the reform as soon as the measure is formally signed into law—which is expected within days. Under the legislation sponsored by MP Owen Bonnici, adults 18 and older will be allowed to possess up to seven grams of cannabis and cultivate up to four plants for personal use. Up to 50 grams of homegrown marijuana could be stored at home. While there wouldn’t be a commercial market per se, non-profit cooperatives would be able to cultivate marijuana and distribute it to members. Possession of more than seven grams but less than 28 grams by an adult would be punishable by a €50 to €100 fine without the threat of jail time or a criminal record. Minors who are found in possession of cannabis would be referred to a commission for justice for a “care plan,” rather than face arrest. Cannabis clubs that would be authorized under the bill could have as many as 500 members and would be limited to distributing seven grams per day to each member, with a maximum of 50 grams per month.
Kyle Jaeger, Marijuana Moment, 12/14/2021 10:30:00
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South Dakota Lawmakers Compromise on Home Cultivation Provisions in Medical Cannabis Program
South Dakota lawmakers, who have been divided on allowing home cultivation in the state’s medical cannabis program, have reached a compromise that is now headed to Gov. Kristi Noem’s desk, according to a Mitchell Republic report. The state’s...
Mississippi Legalizes Medical Marijuana
This past February, Mississippi became the 37th state in the US to legalize medical marijuana, following the passage of legislation permitting patients with qualifying health-related conditions to use cannabis medicinally. Republican Gov. Tate Reeves signed the bill,...
Delaware: House Members Fail to Advance Legalization Legislation
Legislation (HB 305) to regulate the adult-use cannabis market in Delaware failed today in the House of Representatives. Because the measure also involves tax-related issues, it required support from 60 percent of lawmakers, where it fell short. Delaware NORML and the...
Marijuana Banking Sponsor Won’t Stop Talking About His Bill In Hearings On Unrelated Legislation
A newly filed large-scale spending bill to keep the government funded for the 2022 Fiscal Year does not include language to protect banks that work with state-legal marijuana dispensaries—and the sponsor of the Secure and Fair Enforcement (SAFE) Banking Act would like...
New York To Let People With Marijuana Convictions Open Dispensaries Before Big Businesses Can Enter Market
New York regulators are set to approve a rulemaking it so people with prior marijuana convictions, or whose family members have been harmed by criminalization, will get the first round of adult-use marijuana retailer licenses—ahead of existing medical cannabis...
South Carolina Lawmakers Add Marijuana Access To Investigational Drug Bill As House Considers Broader Reform
A South Carolina bill to permit the use of investigational drugs for patients during epidemic or pandemic outbreaks was amended on Wednesday to specifically add marijuana as a treatment option. This comes about a month after the state Senate approved a separate,...
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