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Shaquille O’Neal Sues ex-cannabis bussiness partner

Shaquille O’Neal Sues ex-cannabis bussiness partner

Shaquille O’Neal claims he was stiffed by a partner in a legal cannabis business venture, and now the Hall of Famer is suing for more than $1 million to recoup his investment and damages. Attorneys for O’Neal, 49, and another investor, Jerome Crawford, filed suit this week against Darron Campbell, his LLC, and 10 John Does, claiming that Campbell mismanaged their company, Viceroy LLC, wasted investments, and failed to properly account for spending. Campbell did not immediately respond to a request for comment submitted by DailyMail.com to his personal website. Shaquille O’Neal claims he was stiffed by a partner in a legal cannabis business venture, and now the Hall of Famer is suing for more than $1 million to recoup his investment and damages O’Neal and Crawford claim they invested $100,000 and $50,000, respectively, in 2016 ‘to pursue opportunities in the field of legal cannabis,’ according to the lawsuit obtained by DailyMail.com. The problem, according to the filing, was that Campbell didn’t appear to do anything with that initial $150,000 investment. ‘By late 2017, Viceroy seemingly had no licenses, no revenue, and no operations,’ the filing reads.

Alex Raskin Sports, Daily Mail, 11/24/2021 09:34:00

Open article: https://www.dailymail.co.uk/news/article-10238367/Shaquille-ONeal-sues-ex-cannabis-business-partner-1-million.html

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New laws in Brazil, Argentina could signal ‘radical shift’ in global markets

New laws in Brazil, Argentina could signal ‘radical shift’ in global markets

Proposed laws on the cusp of passage in Brazil and Argentina could lead to “a radical change in the global dynamics of production of industrial hemp and medicinal cannabis,” according to Latin America’s leading hemp industry group. Lorenzo Rolim da Silva, president of the Latin-American Industrial Hemp Association said if the new cannabis laws are enacted, they will let the two countries realize their full potential in international markets. “Both designs are quite robust and modern, and would bring both countries in line with current regulations in the European Union and North America,” Rolim da Silva said. In Brazil, a vote expected before the end of 2021 means regulations could be in place sometime next year. Argentina’s proposed law, already approved by legislative committees on agriculture, finance, and national security, awaits the final step of passage by the country’s senate, with the chance it may also become effective in 2022. Both countries would treat industrial hemp the same as common crops such as soybeans and corn, with oversight by the Argentinian and Brazilian ministries of agriculture only, and no involvement by drug agencies. With agriculture playing a critical role in each nation’s economy, the new laws would let hemp move into the farming mainstream in two of the world’s major agricultural nations, both of which are advantageously located for hemp growing.

420 Intel – Marijuana Industry News, 11/22/2021 19:00:00

Open article: https://420intel.com/articles/2021/11/23/new-laws-brazil-argentina-could-signal-%E2%80%98radical-shift%E2%80%99-global-markets

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St. Louis Lawmakers Move To Decriminalize Marijuana Possession And Cultivation

St. Louis Lawmakers Move To Decriminalize Marijuana Possession And Cultivation

St. Louis lawmakers have given preliminary approval to a local measure to broadly decriminalize marijuana in the city. The proposal cleared the near-final “perfection” stage by the Board of Aldermen on Friday after passing on second reading earlier this month. It now requires a third reading vote for final passage. While the measure from Alderman Bret Narayan (D) wouldn’t change Missouri state laws that continue to criminalize cannabis, local ordinances penalizing low-level possession and cultivation would be repealed. Adults 21 and older could possess up to two ounces of marijuana without facing the civil penalty that’s currently in place. It would also make it so that “no resources” could be spent to punish adults for cultivating up to six flowering plants. The proposal would additionally allow city employees who are medical cannabis patients to present their state-issued ID cards “to avoid adverse employment actions based on a positive drug test for marijuana.” The measure, which has 11 cosponsors, is also supported by Mayor Tishaura Jones (D). A spokesperson for the mayor told the St. Louis Post-Dispatch that the “intention is to free up police resources so they don’t even have to worry about arresting someone for a victimless crime.”

Kyle Jaeger, Marijuana Moment, 11/22/2021 13:36:00

Open article: https://www.marijuanamoment.net/st-louis-lawmakers-move-to-decriminalize-marijuana-possession-and-cultivation/

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Majority Of Texas Republicans Back Marijuana Legalization, Poll Finds

Majority Of Texas Republicans Back Marijuana Legalization, Poll Finds

A strong majority of Texans—including most Republicans—support legalizing marijuana for adult use, according to a recent poll. The survey from the University of Houston and Texas Southern University found that 67 percent of Texas residents back the broad reform. Fifty-one percent of participants who identified as Republican said them back legalization. Pollsters also asked about the legalization of other controlled substances such as heroin and meth. Respondents generally opposed that policy change, with just 16 percent saying they support it. That said, 20 percent of independents, 24 percent of millennials, and 26 percent of Gen Xers said they’re on board with holistically ending the drug war. With respect to marijuana, there were some common themes. As in most polling to date, Democrats and young people were the most likely to back recreational legalization. Seventy-nine percent of Democrats and 70 percent of independents favor the policy. But in a state where comprehensive cannabis reform has consistently stalled in the GOP-controlled legislature, the finding that 51 percent of Republicans agree that marijuana should be legal for adult use is notable. And while young people are more likely to say they want to end cannabis criminalization, 50 percent of Baby Boomers and the Silent Generation said they back marijuana legalization.

Kyle Jaeger, Marijuana Moment, 11/22/2021 15:10:00

Open article: https://www.marijuanamoment.net/majority-of-texas-republicans-back-marijuana-legalization-poll-finds/

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High Tide to Buy 80% of Colorado CBD Manufacturer NuLeaf for $31.2 Million

High Tide to Buy 80% of Colorado CBD Manufacturer NuLeaf for $31.2 Million

 High Tide Inc. (“High Tide” or the “Company”) (TSXV: HITI) (Nasdaq: HITI) (FRA: 2LYA), a leading retail-focused cannabis company with bricks-and-mortar as well as global e-commerce assets, is pleased to announce that it is taking another step towards solidifying itself as a major player within the global marketplace for hemp-derived CBD products, by entering into a definitive agreement (the “Acquisition Agreement”) pursuant to which High Tide will acquire 80% of NuLeaf Naturals, LLC (“NuLeaf”), for US$31.24 Million (the “Transaction”), and will have a three-year option to acquire the remaining 20% of NuLeaf at any time. Founded in 2014 with its headquarters in Denver, Colorado, NuLeaf is a market leader in the production and distribution of premium cannabidiol (CBD) wellness products. It has received over 25,000 verified 5 star customer reviews through its e-commerce platform. NuLeaf can produce 60,000 plant-based softgels per hour and is one of only a few manufacturers in the United States that can produce a vegan softgel. With a heightened consumer interest in health focused and sustainable products, plant-based offerings are primed for growth. NuLeaf has a strong distribution reach in the natural products channel and recently secured an expansion with Sprouts Farmers Market from 33 retail locations to an additional 235 stores. It has quickly grown to become one of the most popular brands for hemp-derived CBD products across the U.S., with their product portfolio including cannabinoid tinctures, softgels, and topicals. Over the 12 months ended September 30, 2021, NuLeaf had over 5.1 million site visits³ and an average order value of US$120. Since its inception, NuLeaf has served approximately 330,000 unique customers through its e-commerce platform, and hundreds of thousands more through their other distribution channels.

Published Ncv Newswire, New Cannabis Ventures, 11/22/2021 06:44:00

Open article: https://www.newcannabisventures.com/high-tide-to-buy-80-of-colorado-cbd-manufacturer-nuleaf-for-31-2-million/

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As California prepares to raise marijuana tax, a top cannabis CEO calls for tax revolt

As California prepares to raise marijuana tax, a top cannabis CEO calls for tax revolt

Fresh off of news that California is set to raise the cannabis cultivation tax despite projections of a $31 billion surplus, one marijuana entrepreneur is calling for a potential tax revolt this summer. Michael “Mikey” Steinmetz, the co-founder of the company that makes the Flow Kana cannabis brand, is threatening to withhold his taxes unless Gov. Gavin Newsom and the Legislature adjust state marijuana regulations on July 1, 2022. He is calling on other CEOs to join him in this effort. Steinmetz issued the declaration in an op-ed on Medium, published Monday. He criticized the California Department of Tax and Fee Administration’s plans to increase the cultivation tax this January, writing “We simply reply: We’re not going to pay.” Retail marijuana is taxed three times in California: an excise tax paid by buyers, sales tax paid by customers, and the cultivation tax that growers pay. Growers want changes to the cultivation tax because they pay it before they make a sale. California’s current cannabis cultivation tax is $9.65 per dry-weight ounce for cannabis flowers, $2.87 per dry-weight ounce for leaves, and $1.35 per dry-weight ounce for cannabis plants.That will increase to $10.08 for flowers, $3 for leaves, and $1.41 for plants beginning Jan. 1.

Cannabis Business Executive – Cannabis and Marijuana industry news, 11/23/2021 08:24:00

Open article: https://www.cannabisbusinessexecutive.com/2021/11/as-california-prepares-to-raise-marijuana-tax-a-top-cannabis-ceo-calls-for-tax-revolt/

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