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New Mexico Approves Public Financing for Cannabis Businesses

New Mexico Approves Public Financing for Cannabis Businesses

New Mexico will provide business loans of up to $250,00 toward small-scale cannabis businesses in an effort to provide economic opportunity to communities that were hit hard by past criminal enforcement of marijuana laws. New Mexico will provide business loans of up to $250,00 toward small-scale cannabis businesses in an effort to provide economic opportunity to communities that were hit hard by past criminal enforcement of marijuana laws. The Regulation and Licensing Department on Thursday announced that the loan program is moving forward after a legislative panel provided approval this week. The New Mexico Finance Authority is planning for a $5 million line of credit for cannabis entrepreneurs, with an average loan size of about $100,000. The application process is expected to open in February.

Cannabis Law Report, 12/03/2021 02:25:00

Open article: https://cannabislaw.report/new-mexico-approves-public-financing-for-cannabis-businesses/

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Mexico has a new marijuana legalization bill. Here’s what’s in it

Mexico has a new marijuana legalization bill. Here’s what’s in it

Politics Mexico has a new marijuana legalization bill. Here’s what’s in it Mattha Busby December 2, 2021, A new cannabis legalization bill is circulating among members of Mexico’s national congress. (AdobeStock) Mexican lawmakers appear to be closer to legalizing cannabis nationwide, as a new version of a draft bill is now circulating among senators in the Congress of the Union. Senior ruling party figures have expressed support for legalization, and the latest bill has been leaked but has not yet been presented in any official manner. The latest iteration is considered more progressive than previous versions, as it would include some safeguards against corporate takeovers and eliminate earlier proposed permits for personal consumption. Here’s an overview of the provisions contained in the new bill. A possession limit of one ounce The new bill is broadly similar to a previous one approved by the Senate last year. For adults of age, possession of up to one ounce (28 grams) of cannabis would be legal. A person in possession of 29 grams to 200 grams (seven ounces) would risk a fine of $500 or more.

Mattha Busby, Leafly, 12/02/2021 17:52:00

Open article: https://www.leafly.com/news/politics/mexico-has-a-new-marijuana-legalization-bill-heres-whats-in-it

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Cannabis Industry Lender Bespoke Financial Closes $125 Million Credit Facility

Cannabis Industry Lender Bespoke Financial Closes $125 Million Credit Facility

Bespoke Financial, the nation’s first cannabis-focused fintech lending platform, announced today the closing of a $125 million credit facility. This infusion of capital from institutional investment funds is a strong show of confidence in cannabis debt financing as well as in Bespoke Financial’s approach to working with these businesses. The company has effectively mainstreamed cannabis lending by providing a comprehensive technology platform and data-driven application process enabling licensed cannabis operators to access financing quickly and seamlessly, as evidenced by the company’s automated pre-qualification for dispensary financing. Bespoke has been at the forefront of the industry trend toward debt financing, working with both large and small companies of all license types, including brands like Jeeter, Buddies, Claybourne Co., and Friendly Farms. Since the company’s launch more than three years ago, Bespoke has provided funding for a growing number of businesses spanning the entire cannabis supply chain. The company now works across the country in 12 regulated markets from California to Maine, financing lines of credit in amounts as large as $15 million.

Published Ncv Newswire, New Cannabis Ventures, 12/01/2021 09:33:00

Open article: https://www.newcannabisventures.com/cannabis-industry-lender-bespoke-financial-closes-125-million-credit-facility/

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Top Federal Drug Official Personally Hesitates To Study Marijuana Because Of Schedule I Research Barriers

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.

Kyle Jaeger, Marijuana Moment, 12/02/2021 08:13:00

Open article: https://www.marijuanamoment.net/top-federal-drug-official-personally-hesitates-to-study-marijuana-because-of-schedule-i-research-barriers/

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Bipartisan Lawmakers Push VA To Allow Medical Marijuana Access For Veterans ‘As Soon As Possible’

Bipartisan Lawmakers Push VA To Allow Medical Marijuana Access For Veterans ‘As Soon As Possible’

The U.S. Department of Veterans Affairs (VA) must urgently institute a policy change to ensure that military veterans can access cannabis for therapeutic use, a bipartisan coalition of congressional lawmakers said in a news letter. Writing to VA Secretary Denis McDonough on Wednesday, the co-chairs of the Congressional Cannabis Caucus urged the official to consider “a change in policy to allow access to medical cannabis for VA patients” and to “act swiftly and implement this change as soon as possible.” The lawmakers pointed to surveys showing high rates of opioid addiction and post-traumatic stress disorder (PTSD) among the veteran community. “Research has shown that cannabis can be safe and effective in targeted pain management. Additionally, cannabis has proven benefits in managing PTSD and other health issues, including multiple sclerosis (MS) and seizure disorders,” the letter states. “Despite its efficacy, antiquated bureaucratic red-tape continues to deny veterans these life-altering treatments.” “Congress and several administrations have enacted various well-intentioned intervention attempts, however, over twenty veterans continue to die by suicide each day—it is past time we stop barring access from these innovative therapies. We therefore respectfully urge you to ensure no veteran can be denied medically prescribed cannabis treatments.” The letter comes weeks after McDonough participated in a Veterans Day Q&A where he said that VA officials are “looking at” the possibility of an internal policy change and have discussed it with the White House and Department of Justice. The secretary also talked about being personally moved by stories from veterans who’ve found relief using medical marijuana.

Kyle Jaeger, Marijuana Moment, 12/01/2021 15:00:00

Open article: https://www.marijuanamoment.net/bipartisan-lawmakers-push-va-to-allow-medical-marijuana-access-for-veterans-as-soon-as-possible/

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As Congress Considers Cannabis, Regulators and Lawmakers Convene on Key Issues

As Congress Considers Cannabis, Regulators and Lawmakers Convene on Key Issues

There’s a lot of federal cannabis buzz lately, but not as much action. On Wednesday, the Coalition for Cannabis Policy, Education, and Regulation (CPEAR) sponsored a virtual event, hosted by The Hill, that focused on cannabis regulation. Speakers included Colorado Senator John Hickenlooper, South Carolina Rep. Nancy Mace, and National Institute on Drug Abuse director Nora Volkow, among others. The event took place against the backdrop of an aggressive push this week for the inclusion of cannabis banking language in the National Defense Authorization Act, which is unlikely, and, more broadly, the rollout this year of comprehensive cannabis legalization proposals from both Democrats and Republicans. (Read Cannabis Wire’s coverage of how these proposals differ.) Hickenlooper, also the former governor of Colorado, spoke about the cannabis impairment-related provisions for which he pushed in the Bipartisan Infrastructure Investment and Jobs Act.

Alyson Martin, Cannabis Wire, 12/01/2021 19:00:00

Open article: https://cannabiswire.com/2021/12/02/as-congress-considers-cannabis-regulators-and-lawmakers-convene-on-key-issues/

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