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Canopy Growth Fined by CRA

Canopy Growth Fined by CRA

Ontario-based cannabis company Canopy Growth is dealing with a $500K fine from the Canada Revenue Agency. The CRA claims the company began its outdoor plant production in 2020 without having the proper licence to do so. Canopy is appealing the $434,611 fine in federal court, arguing they had all the proper paperwork in order. To keep up with demand post-legalization, the company set up a corporate subsidiary in early 2019 and applied to Health Canada for an outdoor farm. Health Canada delayed their response and finally gave approval in June of that year. Growing flowers of cannabis intended for the medical marijuana market are shown at OrganiGram in Moncton, N.B., on April 14, 2016. THE CANADIAN PRESS/Ron Ward Nevertheless, Canopy launched its “Outdoor Farm” project in the summer of 2019. Under Canada’s cannabis laws, one must also apply for a separate cannabis licence with the Canada Revenue Agency. The CRA approved Canopy’s licence after 30 days. One year later, the CRA sent Canopy a letter informing them of the $434,611 fine. They claimed Canopy began cultivating outdoor cannabis before receiving CRA approval.

Caleb Mcmillan, Cannabis News, Lifestyle – Headlines, Videos & Cooking, 03/22/2022 13:01:00

Open article: https://cannabislifenetwork.com/canopy-growth-fined-nearly-half-a-million-dollars-by-the-cra/

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NEO Exchange Welcomes High-Growth Cannabis Issuer With Public Listing of Schwazze

NEO Exchange Welcomes High-Growth Cannabis Issuer With Public Listing of Schwazze

NEO is proud to welcome Medicine Man Technologies, Inc., operating as Schwazze (“Schwazze”), the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale, as they list today on the NEO Exchange. Schwarze is now available for trading on NEO under the symbol SHWZ. Headquartered in Denver, CO, Schwazze is building a vertically integrated regional cannabis company with assets in Colorado and New Mexico. Schwarze is led by an executive team with expertise in building consumer brands at Fortune 500 companies and within the cannabis sector. “Our listing on the NEO Exchange is an important milestone for Schwazze. It provides an additional platform as we bring our story to new investor audiences and as we continue to execute our proven growth playbook as a multi-state operator with a differentiated regional position,” commented Nancy Huber, Chief Financial Officer of Schwazze. “The NEO Exchange is setting the pace for cannabis companies who want to attract the right institutional attention and increase their liquidity.” Investors can trade shares of Schwazze (SHWZ) through their usual investment channels, including discount brokerage platforms and full-service dealers.

Cannabis Law Report, 03/23/2022 14:34:00

Open article: https://cannabislaw.report/neo-exchange-welcomes-high-growth-cannabis-issuer-with-public-listing-of-schwazze/

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Pennsylvania among states with strictest marijuana laws, report finds

Pennsylvania among states with strictest marijuana laws, report finds

Marijuana laws in Pennsylvania are among the most severe in the country despite a majority of voters supporting legalization and regulated sales, according to a report from the Marijuana Policy Project. The organization, which is working towards changing federal cannabis laws, examined states where policies lag the most behind public opinion. Research showed that there were 19 states who still penalize marijuana possession with possible jail time and a criminal record, even though 68% of Americans agree it should be legal. Possession of cannabis has been decriminalized in 31 states, but only 18 of those have legalized recreational use among adults. A 2020 poll from Harper Polling found that 62% of likely voters in Pennsylvania support the legalization and sale of recreational marijuana. However, under current state law, those found in possession face up to 30 days of imprisonment or a fine of up to $500 for 30 grams or less — just under an ounce. In Philadelphia, marijuana use was decriminalized in 2014, but the city has yet to legalize it. Possession of 30 grams or less for personal use comes with a fine of $25 and smoking in public comes with a penalty of $100.

Mmp News Author, Medical Marijuana Program Connection, 03/23/2022 20:29:00

Open article: https://mmpconnect.com/pennsylvania-among-states-with-strictest-marijuana-laws-report-finds/

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MITA Addresses Arizona’s Multi-Million Dollar Social Equity Cannabis License Lottery Now Scheduled for April 8th

MITA Addresses Arizona’s Multi-Million Dollar Social Equity Cannabis License Lottery Now Scheduled for April 8th

Demitri Downing the founder and CEO of MITA, is a former prosecutor and cannabis policy expert, available to address the impact of these new dispensary licenses, and what’s at stake for the larger business community once distributed. The Arizona Department of Health Services plans to announce the 26 social equity license winners by Friday, April 8th. In a limited licensing market structure, these social equity licenses maybe some of the last dispensary permits issued for a long long time, perhaps generations.” The Arizona Department of Health Services (ADHS) tentatively plans to announce the winners of the 26 social equity cannabis licenses by Friday, April 8th. Over 1,500 applications were submitted for the coveted and valuable licenses estimated to be worth between $10-20 million each. The department will release the final number of eligible applicants prior to the lottery. Arizona’s Marijuana Industry Trade Association (MITA) has served as a premier source on the social equity ownership program since its inception.

Mmp News Author, Medical Marijuana Program Connection, 03/22/2022 12:25:00

Open article: https://mmpconnect.com/mita-addresses-arizonas-multi-million-dollar-social-equity-cannabis-license-lottery-now-scheduled-for-april-8th-world-news-report/

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New Hampshire Lawmakers Approve State-Run Marijuana Legalization Bill With Amendments, Sending It Back To House Floor

New Hampshire Lawmakers Approve State-Run Marijuana Legalization Bill With Amendments, Sending It Back To House Floor

A New Hampshire House committee approved an amended version of a bill to create a state-run marijuana market for adult consumers, sending it to the full House for a second-floor vote. The House Ways & Means Committee met for the third time in the span of a week on Monday to discuss the proposal and gave it a “do pass” recommendation in a 12-10 vote. There was the fourth meeting to discuss the measure scheduled for this Wednesday when a vote was initially expected, but members decided to go ahead and take action sooner instead. This legislation already cleared the chamber this month, but because it involved economic components, it needed to go to the Ways & Means Committee before it could be taken back up on the floor. If the chamber passes it again as amended, it will be transmitted to the Senate. While advocates have spent years pushing for an end to cannabis criminalization and a regulated market for adult consumers, the idea of a first-in-the-nation, the government-run cannabis market has left many stakeholders with reservations.

Noah Daly, Marijuana Moment, 03/21/2022 16:18:00

Open article: https://www.marijuanamoment.net/new-hampshire-lawmakers-approve-state-run-marijuana-legalization-bill-with-amendments-sending-it-back-to-house-floor/

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Texas Supreme Court Hears Case Challenging State’s Smokable Hemp Manufacturing Ban

Texas Supreme Court Hears Case Challenging State’s Smokable Hemp Manufacturing Ban

The Texas Supreme Court on Tuesday heard oral arguments concerning the state’s ban on manufacturing smokable hemp products—the latest development in a drawn-out legal battle on the policy first proposed and challenged in 2020. A lower court determined in August that a proposed ban on the manufacturing and sale of smokable hemp was unconstitutional and imposed a permanent injunction that barred the state from prohibiting the full range of hemp activity. Texas officials then raised the in-state manufacturing matter to the state’s highest court. Hemp products—including those that can be inhaled—have been legal in Texas since Congress federally legalized the crop under the 2018 Farm Bill and the legislature followed suit, so long as the cannabis contains no more than 0.3 percent THC per dry weight. But regulators threw the industry for a loop when the Department of State Health Services proposed a rule prohibiting the manufacturing and sale of smokable hemp products within the state.

Kyle Jaeger, Marijuana Moment, 03/22/2022 17:47:00

Open article: https://www.marijuanamoment.net/texas-supreme-court-hears-case-challenging-states-smokable-hemp-manufacturing-ban/

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Cleveland to Expunge Cannabis Convictions

Officials with the city of Cleveland have filed motions to expunge cannabis convictions of more than 4,000 people. The convictions are for possession of 20 grams or less, dating back to 2017. If considered a minor misdemeanor, cannabis possession won’t create a...

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