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Oregon cannabis entrepreneur countersues Curaleaf executive for $625M

Oregon cannabis entrepreneur countersues Curaleaf executive for $625M

MJ Biz Nitin Khanna, a marijuana entrepreneur in Oregon, filed a nearly $625 million countersuit against an investor group that includes Curaleaf Holdings Executive Chair Boris Jordan over a failed CBD company. Jordan and other investors sued Khanna and others in January for $60 million in Multnomah County Circuit, alleging they were induced into funding a CBD startup called Sentia Wellness based on false and misleading information. Khanna has fired back in a 72-page response, denying the allegations and instead accusing Jordan and others of unjust enrichment and breach of fiduciary duty in connection with managing their Sentia Wellness investment as well as closing the CBD company. The counterclaim also alleges Jordan of unjust enrichment and breach of fiduciary duty in reducing the price of Curaleaf’s 2020 acquisition of Oregon-based Cura Partners.

Cannabis Law Report, 05/26/2022 21:11:00

Open article: https://cannabislaw.report/oregon-cannabis-entrepreneur-countersues-curaleaf-executive-for-625m/

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Marijuana gifting parties are now illegal in Connecticut

Marijuana gifting parties are now illegal in Connecticut

Cannabis gifting parties are no longer allowed in Connecticut. Gov. Ned Lamont this week signed legislation that seeks to crack down on the unregulated cannabis bazaars that cropped up across Connecticut after the drug became fully legal here. At the events, attended by several thousand who usually paid a fee to get in, people would exchange items of value for cannabis-related products or include a cannabis product as part of a purchase of a $25 T-shirt, for example. Municipalities can now fine residents up to $1,000 for gifting a cannabis plant or other cannabis-related product to another individual in exchange for any kind of donation, including an admission fee, or as part of any giveaway such as a swag bag. The state can also separately issue $1,000 fines for failing to pay sales taxes. Supporters of the bill said it still allows people to gift cannabis to their friends and family provided no payment is exchanged.

Mmp News Author, Medical Marijuana Program Connection, 05/26/2022 20:57:00

Open article: https://mmpconnect.com/marijuana-gifting-parties-are-now-illegal-in-connecticut/?utm_source=rss&utm_medium=rss&utm_campaign=marijuana-gifting-parties-are-now-illegal-in-connecticut

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Analyst Says New Jersey Rec Marijuana Market Holds High Potential Despite Slow Start, Here’s Why

Analyst Says New Jersey Rec Marijuana Market Holds High Potential Despite Slow Start, Here’s Why

New Jerseyans spent $24 million on weed during the first month of recreational sales, roughly $5 million a week after a record-breaking first day when $2 million worth of cannabis was purchased. Cantor Fitzgerald’s analyst Pablo Zuanic said in his recent note that New Jersey saw a “slow rec start” as its first month of sales equaled $31 per capita spent, compared to $126 in New Mexico. The Land of Enchantment kicked off sales a year after Gov. Michelle Lujan Grisham signed the Cannabis Regulation Act in April 2021, legalizing adult-use cannabis. In the first month, New Mexicans bought $22.1 million worth of cannabis. The Market Will Grow Despite Slow Start Still, the analyst said that New Jersey’s recreational market will grow “as supplies increase and more stores open.” Jeff Brown, executive director of the state’s Cannabis Regulatory Commission agrees. On Tuesday, the regulatory body approved five additional permits for medical-only dispensaries to sell adult-use cannabis. Brown called the move “only a beginning,” adding that “there’s a lot of growth left in this market.”

Mmp News Author, Medical Marijuana Program Connection, 05/27/2022 09:57:00

Open article: https://mmpconnect.com/analyst-says-new-jersey-rec-marijuana-market-holds-high-potential-despite-slow-start-heres-why/?utm_source=rss&utm_medium=rss&utm_campaign=analyst-says-new-jersey-rec-marijuana-market-holds-high-potential-despite-slow-start-heres-why

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70 new medical marijuana dispensaries get licensed for Ohio shops

70 new medical marijuana dispensaries get licensed for Ohio shops

An array of new medical marijuana dispensaries could open their doors in Ohio — including nine in Columbus. The Ohio Board of Pharmacy issued 70 provisional licenses to hopeful medical marijuana dispensaries on May 16 in order to accommodate a growing number of patients and demand for the drug, according to the board’s policy and public affairs liaison Kylynne Johnson. “There’s been long lines, difficulty to get the products in, sometimes a long distance between their homes and a product,” Sen. Steve Huffman (R-Tipp City) said. “So yes, I really do think there’s a need.” About 142,000 Ohioans have an active medical marijuana registration – an increase of nearly 4,000 in registrations since March – with 56 dispensaries operating throughout the state, according to monthly reports from the Board of Pharmacy. If the 70 provisional licensees are officially approved, Ohio would be home to 126 dispensaries. Since the medical marijuana program’s inception in 2016, physicians have issued a total of 487,571 recommendations to their patients, according to the board. Provisional licensees have up to 270 days to open a medical marijuana dispensary that abides by the state pharmacy board’s rules and regulations, Johnson said.

Mmp News Author, Medical Marijuana Program Connection, 05/26/2022 06:13:00

Open article: https://mmpconnect.com/70-new-medical-marijuana-dispensaries-get-licensed-for-ohio-shops/?utm_source=rss&utm_medium=rss&utm_campaign=70-new-medical-marijuana-dispensaries-get-licensed-for-ohio-shops

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Shifting Conservative Attitudes Toward Cannabis Reflected In New Efforts By The Congressional Cannabis Caucus

Shifting Conservative Attitudes Toward Cannabis Reflected In New Efforts By The Congressional Cannabis Caucus

Research from Gallup released last year shows that record numbers of Americans support some form of cannabis legalization, as more states pass laws legalizing medical and recreational adult uses of cannabis. This has resulted in both parties represented in Congress taking federal cannabis policy more seriously. In the Republican Party, for example, a majority now support legalization (though, of course, there is a fair degree of variation in what voters think that should look like in practice), and these shifting attitudes are now reflected in the halls of Congress, where Republican lawmakers are spearheading a number of bills that have pulled back the curtain on federal prohibition and prompted new discussions of what a federal regulation of cannabis should look like.

Lewis Koski, Forbes, 05/24/2022 20:00:00

Open article: https://www.forbes.com/sites/lewiskoski/2022/05/25/shifting-conservative-attitudes-toward-cannabis-reflected-in-new-efforts-by-the-congressional-cannabis-caucus

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California Marijuana Retailers ‘100 Percent’ Compliant In Checking IDs To Prevent Youth Access, Study Finds

California Marijuana Retailers ‘100 Percent’ Compliant In Checking IDs To Prevent Youth Access, Study Finds

California marijuana retailers do a very good job of preventing underage people from entering their shops and purchasing cannabis, a new study found. Researchers wanted to put the cannabis industry’s compliance with ID requirements to the test, so they sent people who seemingly looked underage to 50 randomly selected marijuana shops throughout the state to see if they could get in without presenting identification. Every single retailer required ID. “It was somewhat surprising that there was 100 percent compliance with the ID policy to keep underage patrons from purchasing marijuana directly from licensed outlets,” the authors of the study, published this month in the Journal of Safety Research, wrote. “However, that was consistent with what was observed in two other states, Washington and Colorado.”

Kyle Jaeger, Marijuana Moment, 05/26/2022 09:01:00

Open article: https://www.marijuanamoment.net/california-marijuana-retailers-100-percent-compliant-in-checking-ids-to-prevent-youth-access-study-finds/

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