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Featured Articles
Montana’s Adult-Use Cannabis Sales Revenue Tops $12.8 million in First Month
Montana’s adult-use cannabis industry is on track to yield $130 million—a sales prediction made by the Governor’s budget office—in its initial year of operation. Adults age 21 and over have been legally allowed to purchase a maximum of one ounce of recreational...
A Pennsylvania company becomes the first in the US to raise marijuana legally for medical research
For more than half a century, federal law stopped all private-sector companies from selling Schedule I drug for medical research. But York County-based Groff North America said it became the first business in the country last month to bring a cannabis crop to market...
Who Now Has Federal Permission to Grow Cannabis for Research?
Slowly, but surely, the U.S. Drug Enforcement Administration is rolling out licenses to entities that want federal permission to grow cannabis for research. For more than fifty years, only one place could legally do so: the University of Mississippi. Then in 2016, the...
Rhode Island may change recreational pot laws
Rhode Island appears a step closer to becoming the next state to legalize recreational marijuana use. On Tuesday, two key lawmakers in the House and the Senate introduced identical legislation that resolved a major impediment to passage last year: They defined who...
Cannabis Companies in Germany Attract Investments as Nation Gears Up for Recreational Sales
Cannabis startups in Germany are experiencing an uptake in investment funding as they look to capitalize on the potential of the legalization of recreational marijuana. This comes as the sector of medical marijuana, which is legal, is experiencing tremendous growth....
New initiative seeks to expand cannabis industry to Black and Hispanic entrepreneurs
The Alliance for Cannabis Equity (ACE), a collaboration between Connecticut Community Outreach Revitalization Program (ConnCORP) and The WorkPlace, a Bridgeport-based incubator and workforce development board, has released the Cannabis Manifesto, a document designed...
Featured Articles
Local cannabis group to list on Germany’s FSE
JSE-listed cannabis holdings group Labat Africa’s share price on the JSE rose by 56% on Monday after the company announced it had been approved for a listing on the Frankfurt Stock Exchange (FSE). Labat is one of two cannabis businesses listed in South Africa, with a focus on pharmaceutical-grade medical cannabis. The company deemed it fit to pursue a secondary listing in Germany since that country’s government is planning to legalize cannabis for medicinal and recreational purposes. Labat believes the listing will allow it to accelerate its portfolio offering to the international markets worldwide, as well as provide wider access to capital. “We are excited that we are now able to access international cannabis investors and markets with the FSE listing.
Mmp News Author, Medical Marijuana Program Connection, 12/06/2021 11:27:00
Open article: https://mmpconnect.com/local-cannabis-group-to-list-on-germanys-fse/
GOP Congressman And AOC Team Up On Marijuana Bill To Incentivize State-Level Expungements
As congressional lawmakers work to advance federal marijuana legalization, a bipartisan duo on Thursday filed a bill that would incentivize states and local governments to expunge cannabis records in their jurisdictions. Reps. Dave Joyce (R-OH) and Alexandria Ocasio-Cortez (D-NY) are sponsoring the legislation, titled the Harnessing Opportunities by Pursuing Expungement (HOPE) Act. It would encourage states to provide relief to people with non-violent marijuana convictions through federal grants—the State Expungement Opportunity Grant Program, run through the Department of Justice—that would help cover the administrative costs of identifying and clearing eligible cases. The bill proposes to appropriate $2 million in funding to support the program for each fiscal year starting in 2023 and ending in 2032. Specifically, the grants could be used by states to purchase technology used to facilitate expungements at scale, automate the relief process, fund legal clinics to help people get their records cleared and support “innovative partnerships” to provide mass relief. “Having been both a public defender and a prosecutor, I have seen first-hand how cannabis law violations can foreclose a lifetime of opportunities ranging from employment to education to housing,” Joyce said in a press release. “The collateral damage caused by these missed opportunities is woefully underestimated and has impacted entire families, communities, and regional economies.”
Kyle Jaeger, Marijuana Moment, 12/02/2021 12:38:00
Top Federal Drug Official Personally Hesitates To Study Marijuana Because Of Schedule I Research Barriers
The top federal drug researcher says even she is reluctant to conduct studies on Schedule I drugs like marijuana because of the “cumbersome” rules that scientists face when investigating them. Nora Volkow, director of the National Institute on Drug Abuse (NIDA), made the comments during a Wednesday forum moderated by The Hill and sponsored by the Coalition for Cannabis Policy, Education, and Regulation (CPEAR) that also featured congressional lawmakers, state regulators, and industry stakeholders. Volkow has repeatedly talked about barriers to marijuana research in the U.S., where scientists must jump through bureaucratic hoops to access cannabis for study purposes. That’s because the plant is designated as Schedule I under the Controlled Substances Act, the most restrictive category. But it’s not just your average researcher who struggles to navigate the complex application process. Volkow—who runs America’s top drug science agency—said she personally avoids studying Schedule I substances because of the federal red tape.“One of the barriers that has actually been noted is that cannabis, marijuana, by being a Schedule I substance, requires certain procedures that actually can be very lengthy,” she said. “In some instances, it detracts researchers who want to investigate it because it’s just much more cumbersome than doing studies with other substances.
Kyle Jaeger, Marijuana Moment, 12/02/2021 08:13:00
USDA Announces Hemp Policy Changes To Improve Insurance Coverage For Producers
The U.S. Department of Agriculture (USDA) on Thursday announced that it has taken steps to improve insurance policies for hemp businesses, making them more flexible in response to stakeholder feedback. USDA’s Risk Management Agency (RMA) said it is making it so hemp producers are no longer mandated to deliver their crop “without economic value for insurability.” It further amended policy to clarify how the “amount of insurable acreage is determined if the processor contract specifies both an acreage and a production amount.” “This change was made in the policy to ensure producers know how their insurable acreage is determined for those contracts,” the agency said in a press release. RMA Administrator Marcia Bunger said that hemp is “an emerging crop, and we are working with hemp producers to provide insurance options that make sense for producers and for insurance providers.” “RMA has worked to expand and refine our offerings to be responsive and dynamic,” she said. The department also said it has added a requirement for producers who grow hemp directly from seeds that are planted in the ground.
Kyle Jaeger, Marijuana Moment, 12/02/2021 15:56:00
Missouri GOP Lawmaker Files Joint Resolution To Put Marijuana Legalization On Ballot As Activists Launch Separate Campaign
A Republican Missouri lawmaker is again making a push to place marijuana legalization on the ballot. But some activists aren’t waiting on the legislature to take action to refer the issue to voters, with one campaign officially launching a signature-gathering on Wednesday for a separate reform initiative. Rep. Shamed Dogan (R) on Wednesday pre-filed his joint resolution to place a constitutional amendment on legalization on the 2022 ballot. He introduced a similar proposal last year, but it did not advance. Under the lawmaker’s plan, adults 21 and older could purchase, possess and cultivate cannabis for personal use. It does not specify allowable amounts. A 12 percent tax would be imposed on adult-use marijuana sales, while medical cannabis products would be subject to a four percent tax. Revenue would go to a new “Smarter and Safer Missouri Fund” to support veterans services, infrastructure programs like expanding broadband access and drug treatment programs.
Kyle Jaeger, Marijuana Moment, 12/03/2021 09:36:00
Marijuana Company of America Inc. (MCOA) Leverages Strategic Partnerships to Facilitate Growth Within the Industry
The cannabis industry just celebrated its second-largest holiday of the year – Green Wednesday, the industry’s very own “Black Friday.” According to software company Akerna’s figures, the sale of legal cannabis products during the four-day holiday (November 24-27) is likely to have topped $251 million. The forecast also estimated that sales would equate to a 78% spike from normal daily sales on Green Wednesday, resulting in $90 million worth of legal products being sold (https://cnw.fm/waqEm). The Green Wednesday sales increase reflects a growing trend of the industry as a whole. The global cannabis market was valued at $22.10 billion in 2020 and is expected to grow at a CAGR of 13.9% during the 2021 to 2026 forecast period. Much like other industries around the world, the marijuana market was significantly impacted by the COVID-19 pandemic. The limitations placed on brick-and-mortar establishments presented many setbacks and forced store owners to seek other methods to sell products, like on social media platforms and e-commerce sites (https://cnw.fm/aGyef). In the interest of global expansion, Marijuana Company of America (OTC: MCOA) has taken steps to extend the company’s reach into new regions, including Latin America, and to leverage current strategic partnerships with several companies and its wholly-owned subsidiaries to facilitate growth in an industry that continues to expand despite recent setbacks.
CannabisNewsWire, 12/02/2021 09:00:00
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D.C. Lawmakers Approve Ban On Pre-Employment Marijuana Testing For Most Workers
A Washington, D.C. Council committee on Thursday unanimously approved a bill to ban most workplaces from subjecting job applicants to pre-employment marijuana testing. The legislation, sponsored by Councilmember Trayon White (D), cleared the Labor & Workforce...
Wyoming Marijuana Decriminalization Bill Won’t Get A Vote This Session, Sponsor Says
A proposal to decriminalize possession of small amounts of marijuana won’t come up for a vote this legislative session, according to the bill’s sponsor. The legislation was initially filed last month, Marijuana Moment reported. But state Rep. Mark Baker,...
Veterans Groups Call On Congress To Allow Medical Marijuana Access Through VA
House and Senate committees held joint hearings last week to hear from veterans service organizations (VSOs) about how Congress and the federal government can better serve their constituents, and several of the groups brought up the need to ease restrictions on...
Cannabis Consumers Continue to Face Employment Discrimination in Colorado
Despite being the first state in the nation to approve adult-use marijuana possession and sales, Coloradoans – including registered patients – still lack any workplace protections. The legislation was filed in Colorado (House Bill 1152) earlier this year to change...
Russia, security concerns are piling onto marijuana stocks
It has been a rough week in international affairs. Even the cannabis sector, which has unique political problems of its own, felt the impact of Russia’s invasion of Ukraine. Pot investors can’t tune out Kremlin’s aggression Two political imbroglios for the cannabis...
Faster legislation to legalize recreational marijuana attracts Maryland Senate support
Legislation legalizing recreational marijuana in Maryland on July 1 — a year faster than a leading House measure — attracted significant support Thursday during a state Senate hearing. The bill sponsored by Sen. Jill Carter, a Baltimore Democrat, would create a legal...
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