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National Cannabis Lobbying Falls, Again

National Cannabis Lobbying Falls, Again

While millions of dollars are flowing to the five states where cannabis will be on the ballot on Election Day, the money spent on federal cannabis lobbying by cannabis-focused entities continues to decline. A Cannabis Wire analysis of lobbying disclosures by...

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Featured Articles

National Cannabis Lobbying Falls, Again

National Cannabis Lobbying Falls, Again

While millions of dollars are flowing to the five states where cannabis will be on the ballot on Election Day, the money spent on federal cannabis lobbying by cannabis-focused entities continues to decline. A Cannabis Wire analysis of lobbying disclosures by cannabis-focused companies or groups for the third quarter of 2020 shows, a total spend of approximately $1.24 million. This is a decline from an approximate total of $1.6 million in Q2, $1.9 million in Q1, and $2.3 million in Q4 2019. Last year was the peak of lobbying disclosures driven by the momentum of the SAFE Banking Act in Congress. Furthermore, spending is likely to rise again when the COVID-19 pandemic is over. The outcome of the US presidential election will also play a role in future spending because Democratic presidential nominee and former vice president Joe Biden promised to decriminalize cannabis.

Nushin Rashidian, Cannabis Wire, 10/20/2020 20:00:00

Open article: https://cannabiswire.com/2020/10/21/national-cannabis-lobbying-falls-again/

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Harborside acquires San Francisco social equity marijuana retailer

Harborside acquires San Francisco social equity marijuana retailer

Oakland, California-based Harborside said it acquired a majority stake in FGW Haight, a company that in June was awarded a conditional-use permit for a retail marijuana shop in San Francisco. Under the terms of the deal, Harborside will receive 50.1% equity in the company in a combined cash-and-stock transaction totaling $2.1 million. The deal is expected to close by the end of the month. The retail store is one of many city-licensed social equity businesses that are opening up over time in San Francisco, FGW Haight partner Johnny Delaplane told Marijuana Business Daily. “The city of San Francisco is like issuing cannabis retail permits ad nauseum right now. There are dozens of new cannabis retail locations that are currently opening up,” said Delaplane, who is also president of the San Francisco Cannabis Retailers Alliance.

Marijuana Business Daily, 10/20/2020 15:59:08

Open article: https://mjbizdaily.com/harborside-acquires-san-francisco-social-equity-marijuana-retailer/

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Applications open to supply France with free medical cannabis via pilot program

Applications open to supply France with free medical cannabis via pilot program

The French Minister of Solidarity and Health has signed a lengthy decree specifying how a small-scale pilot program will be supplied with medical cannabis. The program focus on medical marijuana patients and will be given free of charge. That decree, signed Friday, was followed by the Agency for the Safety of Medicines and Health Products (ANSM) publishing the application process for suppliers on Monday. As a result, most of the long-awaited regulatory legwork is done and the experimental program is ready to begin once the government selects the suppliers. The program also will rely on imported medical cannabis. Some details, such as how doctor education will work, also remain to be clarified. But the first prescription is expected by the end of March 2021. The experiment does not represent an immediate revenue opportunity for cannabis producers – at least not during the next two years.

Marijuana Business Daily, 10/20/2020 15:29:56

Open article: https://mjbizdaily.com/applications-open-to-supply-france-with-free-medical-cannabis/

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Canada’s Vivo Cannabis cuts jobs in push for positive cash flow

Canada’s Vivo Cannabis cuts jobs in push for positive cash flow

Toronto-based cannabis producer Vivo Cannabis Inc. is cutting 18% of its workforce, selling unspecified assets, and tweaking its leadership team as part of an effort to cut costs and achieve positive cash flow. The company said its job cuts will see roughly 45 positions eliminated, “the vast majority from the rightsizing of Napanee operations.” Vivo’s Napanee operations are being “re-purposed to focus on low-cost cultivation – airhouse-grown – and the extraction and manufacturing of Vivo’s growing line of Cannabis 2.0 concentrates,” said a news release. Some other activities, including packaging and distribution, will be centralized at the Canna Farms facility in British Columbia. Vivo also said it was “monetizing non-core assets” and turning off the taps on capital expenditures “as all major facility projects have been completed.”

Marijuana Business Daily, 10/20/2020 12:55:03

Open article: https://mjbizdaily.com/canadas-vivo-cannabis-cuts-jobs-in-push-for-positive-cash-flow/

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Canadian LP Flowr to Acquire Terrace Global for C$63 Million in Stock

Canadian LP Flowr to Acquire Terrace Global for C$63 Million in Stock

Terrace Global Inc. (“Terrace Global”) is pleased to announce it has entered into a definitive arrangement agreement pursuant to which The Flowr Corporation (“Flowr”) will acquire all of the issued and outstanding common shares in the capital of Terrace Global . Under the terms of the Agreement, holders of Terrace Global common shares will receive 0.4973 of a common share of Flowr for each Terrace Global common share held.  The proposed transaction provides a 47% premium to Terrace Global’s current share price and a premium of 76% to the last Terrace Global financing at $0.125 per share. Also, Flowr has secured support from approximately 38% of the shareholders of Terrace Global.

Published Ncv Newswire, New Cannabis Ventures, 10/20/2020 10:01:57

Open article: https://www.newcannabisventures.com/canadian-lp-flowr-to-acquire-terrace-global-for-c63-million-in-stock/

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Marijuana company with unlicensed employees could lose its license

Marijuana company with unlicensed employees could lose its license

Two Nevada marijuana companies are facing hefty fines and a possible loss of their licenses as part of the latest round of complaints filed Tuesday by the state’s Cannabis Compliance Board. The new complaints are the latest since the board took over regulation of the cannabis industry in Nevada in July. The board has overall showed a continued push to crack down on companies that are in violation of the state’s marijuana laws. The board on Tuesday also approved five settlements with companies that had been hit in the previous rounds of complaints with most of them agreeing to reduced punishments than were proposed by the board.

Mmp News Author, Medical Marijuana Program Connection, 10/20/2020 21:39:00

Open article: https://mmpconnect.com/marijuana-company-with-unlicensed-employees-could-lose-its-license/

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