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Colorado Marijuana Activists Cleared To Collect Signatures To Legalize Sales In State’s Second Largest City

Colorado Marijuana Activists Cleared To Collect Signatures To Legalize Sales In State’s Second Largest City

Colorado Springs residents could have the chance to vote on the sale of recreational marijuana in the city in this year’s election. Your Choice Colorado Springs, the group working to get the sale of recreational marijuana on the ballot, filed a petition initiative in January. The City Title Board approved the proposed initiative language that would legalize recreational marijuana sales in Colorado Springs last week. This means that supporters can begin collecting signatures, and if they collect enough signatures, the initiative will appear on this year’s ballot. “The citizens of Colorado’s second-largest city finally have it within their power to direct taxes from recreational cannabis sales back to their hometown, rather than to cities like Denver and Manitou Springs,” Anthony Carlson, the group’s campaign manager, said in a statement last week. Your Choice Colorado Springs estimates that there has been $150 million in revenue lost over the past decade because of the ban on selling recreational marijuana inside Colorado Springs, according to the group’s website. While recreational marijuana has been legal in Colorado since 2012, it is against the law for dispensaries in Colorado Springs to sell recreational marijuana. It is legal for licensed medical dispensaries to sell medical marijuana to registered medical marijuana patients in Colorado Springs.

Marijuana Moment, Marijuana Moment, 03/23/2022 15:47:00

Open article: https://www.marijuanamoment.net/colorado-marijuana-activists-cleared-to-collect-signatures-to-legalize-sales-in-states-second-largest-city/

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Maryland Senators Raise Questions About House-Passed Marijuana Legalization Bills In Committee Hearing

Maryland Senators Raise Questions About House-Passed Marijuana Legalization Bills In Committee Hearing

A Maryland Senate committee on Wednesday took up a pair of House-passed bills to put marijuana legalization on the state’s November ballot and set initial rules if voters approve the reform, with some lawmakers raising concerns about the limited scope of the implementation proposal and questioning why the ballot question doesn’t contain more specific language around issues like licensing and equity. The Senate Finance Committee held the hearing on HB 1 and HB 837, both sponsored by Del. Luke Clippinger (D), about a month after they cleared the opposite chamber. The meeting also took place days after a key Maryland House committee advanced a Senate-approved budget bill, adding new amendments that would allocate tens of millions of dollars in funding to implement marijuana legalization with the expectation that the reform will ultimately be enacted this year. Clippinger is the chairman of the House Judiciary Committee, which reported the bills out favorably last month before sending them to the floor. He also led a marijuana workgroup that House Speaker Adrienne Jones (D) formed last summer to study the issue.

Kyle Jaeger, Marijuana Moment, 03/23/2022 14:56:00

Open article: https://www.marijuanamoment.net/maryland-senators-raise-questions-about-house-passed-bills-marijuana-legalization-bills-in-committee-hearing/

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Social Equity Policies Could Shape Diversity In The Legal Cannabis Industry

Social Equity Policies Could Shape Diversity In The Legal Cannabis Industry

In the United States, less than 20 percent of legal cannabis business owners and founders are minorities. This reality, combined with the negative consequences of cannabis prohibition on minority communities, has led many advocates to call on elected officials to address this disparity. With legal cannabis projected to meet over 40 percent of our country’s annual demand by 2025, the policies state lawmakers choose to implement over the next few years will likely play a significant role in the makeup of this quickly expanding and highly profitable industry. While there is no one solution to promoting a diverse and healthy cannabis market, some states with legal cannabis have enacted various social equity policies with varying success. Though different in each state, most of these policies seek to address criticisms that the legal cannabis industry is profiting from the same substance that put many Americans from historically underserved communities behind bars. For example, in Illinois, where cannabis became legal in 2020, lawmakers passed a provision prioritizing dispensary and grow licenses for applicants who meet specific social equity criteria.

Lewis Koski, Forbes, 03/21/2022 20:00:00

Open article: https://www.forbes.com/sites/lewiskoski/2022/03/22/social-equity-policies-could-shape-diversity-in-the-legal-cannabis-industry

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Aurora Cannabis To Acquire TerraFarma (Thrive Cannabis) In $38 Million Deal

Aurora Cannabis To Acquire TerraFarma (Thrive Cannabis) In $38 Million Deal

Canadian cannabis company Aurora Cannabis expands its recreational portfolio by announcing the acquisition of TerraFarma Inc., a parent company of Thrive Cannabis, an Ontario-based vertically integrated cannabis company. Toronto-based TerraFarma Inc. acquired 100% of the shares of Thrive Cannabis in 2019. According to the press release, Aurora will acquire all of TerraFarma’s issued and outstanding shares for $38 million in cash and Aurora shares. Furthermore, Thrive will also be eligible for up to $20 million in shares, cash, or both, if it reaches specific revenue targets within two years. The transaction is expected to close in Q4 of Aurora’s 2022 fiscal year. This would help Aurora reach profitability by the first half of its 2023 fiscal year. Aurora said it plans to put the Thrive team in charge of its Canadian recreational cannabis portfolio to advance its shift in focus to products such as dried flowers, pre-rolls, vapes, and concentrates. Thrive, a licensed producer of super-premium cannabis concentrates and craft dried flowers, is most widely known for its award-winning flagship recreational brand, Greybeard Cannabis, launched in 2020. Through the acquisition of TerraFarma, Aurora Cannabis adds two brands to its portfolio: Greybeard, a premium brand with a lineup of concentrates popular among budtenders and cannabis connoisseurs, and Being, a wellness-oriented brand known for its sublingual THC and CBD strips.

Dario Sabaghi, Forbes, 03/23/2022 20:00:00

Open article: https://www.forbes.com/sites/dariosabaghi/2022/03/24/aurora-cannabis-to-acquire-terrafarma-thrive-cannabis-in-38-million-deal

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Canada Introduces Proposal to Increase Marijuana Beverage Purchase Limits

Canada Introduces Proposal to Increase Marijuana Beverage Purchase Limits

As the cannabis industry matures, the cannabis-infused beverage segment is expected to offer fierce competition to other types of cannabis products. Market experts project that the segment will grow at a compound annual growth rate of 16% to achieve a valuation of $2 billion by 2026. Canada, which first allowed the production and sale of cannabis beverages in late 2019, has proposed a policy change that would allow consumers to purchase more cannabis beverages at one time. The federal government has asked for public comments regarding a proposed change in cannabis regulation that would increase the number of cannabis beverages consumers are allowed to purchase at a time eightfold. At the moment, the country’s equivalency rates allow individuals to possess up to 30 grams of cannabis flower but only about two liters of marijuana-infused beverages in public. According to Health Canada, the equivalency rates place limits on the possession and sale of cannabis-infused beverages that other classes of cannabis products don’t have to deal with. The proposal plans to increase the possession limit for marijuana beverages from 2.1 liters to roughly 17 liters. This will increase the number of marijuana beverages equivalent to one gram of dried cannabis flower.

CannabisNewsWire, 03/24/2022 04:20:00

Open article: https://www.cannabisnewswire.com/420-with-cnw-canada-introduces-proposal-to-increase-marijuana-beverage-purchase-limits/

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French Government Announces Decree Allowing Growing of Medical Marijuana

French Government Announces Decree Allowing Growing of Medical Marijuana

Last month, the French government issued a decree that allowed the growing of medical marijuana and the development of the industry. The enactment took effect on March 1, 2022; however, it awaits implementation by regulators. The act features conditions and procedures for the growth and production of medical cannabis. It has also amended some clauses in the Code of Public Health to permit for cultivation, production, processing, transport, possession, import, and export of cannabis and its components under the medical mandate. The development of the medicinal cannabis supply chain will be overseen by the National Agency for the Safety of Medicines and Health Products (ANSM). The agency has also created a committee of 11 members who will canvas several aspects of the supply chain. This includes identification of cannabis strains available for medical use, THC and CBD levels, track and trace systems, and consumption method of cannabis medicines as well as the pharmaceutical quality criteria. The decree comes after a medical marijuana pilot project was launched last year targeting almost 3,000 patients with severe conditions such as chronic pain and epilepsy.

CannabisNewsWire, 03/23/2022 16:20:00

Open article: https://www.cannabisnewswire.com/420-with-cnw-french-government-announces-decree-allowing-growing-of-medical-marijuana/

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