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Featured Articles
California Senate Green-Lights Bill To Stop Cities From Banning Medical Marijuana Delivery
California Senate Committee gave the green light to a bill that restores voter-created access to medicinal cannabis by requiring cities to provide patients access to purchase medicinal cannabis via delivery. According to a press release, Senator...
South Africa approves first legal cannabis pharmacy
The SA Standard writes… South Africa has given the green light for the operation of the first legal cannabis pharmacy within its boundaries. This unmatched launch follows the Decriminalisation of cannabis in South Africa in 2018. According to a report by The Sunday...
Amsterdam poised to shut down cannabis cafes to tourists
Amsterdam, long a hazy haven for marijuana fans, could be poised to do the unthinkable. Amsterdam Mayor Femke Halsema says it is time to close the marijuana coffee shops because they are leading to too much trouble, SchengenVisaInfo.com reported. Halsema told...
Schumer Postpones Tabling Cannabis Legalization Bill as Consultations Continue
Senate Majority Leader Chuck Schumer has made it clear that he is a strong supporter of comprehensive marijuana reform at the federal level. For the past couple of months, he has been working with Senator Cory Booker and Senate Finance Committee Chair Ron Wyden on a...
Washington legislators strike the word ‘marijuana’ from all state laws, calling term racist
At long last .. let’s see all other states do this and ASAP Yahoo News “Pot,” “weed,” “grass,” “Mary Jane,” “flower” — there is no shortage of terms to describe cannabis. However, Washington state is taking one word officially off the table: “marijuana.” Legislators...
Osoyoos Announces Agreement to Acquire AI Pharmaceuticals Jamaica Limited
Osoyoos Cannabis Inc. announced today that it has agreed to acquire 100% of the shares of 1196691 B.C. Ltd. d/b/a “PCAI Pharma” the parent company that holds 100% of the shares of AI Pharmaceuticals Jamaica Limited (“AI Pharma”). AI Pharma is engaged in the research...
Featured Articles
American Council of Cannabis Medicine Announces – Launch of Pennsylvania Advocacy Initiatives Including Work to Approve Delivery
Today, the American Council of Cannabis Medicine (ACCM) announced that Pennsylvania is fully opening up for historic Yes We Cann! Advocacy initiative, and state-centric Elevated States program this week. “ACCM is thrilled to bring the full Yes We Cann! and Elevated States programs to Pennsylvania. We have incredible members in the commonwealth, they have a great medical-cannabis program,” says Scott Rancie, Vice President of Members Services for ACCM. “Initial outreach began, connecting with 60,000+ current medical-cannabis patients, several physicians, and dispensary managers. Like other states, people are very excited to participate in the program.” Advertisement Elevated States (state-centered program) — works with Yes We Cann!, focusing on expanding physician participation and patient access through extensive outreach and education. ACCM works closely with members in each state to help educate new patients and support existing patients. Newly expanded Elevated Membership initiative launched in Pennsylvania today. It provides extensive health and wellness programming for new and existing medical-cannabis patients. www.elevatedmembership.org/whyjoin In February, Compassionate Certification Centers of Butler (Pennsylvania) was selected as a Distinguished Physician Partner, ACCM’s highest physician group designation. To date, only eight other physician groups have received designation across the nation.
mg Magazine – Cannabis News & Information, 03/16/2022 08:49:00
CannTrust Completes CAD $17 million Financing, Exits CCAA
CannTrust Holdings Inc. (the “Company”) (unlisted) today announced that its subsidiary, CannTrust Equity Inc. (“CannTrust Equity”), has completed its previously announced financing for aggregate cash proceeds of approximately CAD $17 million, as approved by the Ontario Superior Court on February 25, 2022 (the “Financing”). A group of investors led by Marshall Fields International B.V., a subsidiary of Kenzoll B.V., a Netherlands-based private equity investment company, has invested CAD $11.2 million to acquire a 90% equity interest in CannTrust Equity and provided a CAD $5.5 million secured credit facility to CannTrust Equity, which is subordinated to the existing $22.5 million credit facility arranged by Cortland Credit Lending Corporation. The Company retains the remaining 10% of the common shares of CannTrust Equity. With the completion of the Financing, the companies comprising the CannTrust Group, have emerged from their court-supervised proceedings under the Companies Creditors Arrangement Act (“CCAA”), effective immediately. “This marks the end of one long journey and the beginning of a new, exciting era for CannTrust.
Cannabis Law Report, 03/16/2022 00:04:00
Open article: https://cannabislaw.report/canntrust-completes-cad-17-million-financing-exits-ccaa/
THC Restriction Bill On Virginia Governor’s Desk Would Harm Hemp Industry, Advocates Say
The General Assembly failed at finding a path to starting recreational marijuana sales this year, but a bill outlining stricter regulations for retailers selling what one lawmaker called “juiced-up” synthetic products made its way through the legislature last week with bipartisan support. The bill, which is now before Gov. Glenn Youngkin (R), explicitly bans sales of any substance that contains more than 0.3 percent or .25 milligrams of THC per serving or more than one milligram per package. The measurements would apply to any naturally occurring or synthetic version of THC such as delta-8, the popular synthetic substitute made from industrial hemp that producers claim is legal. “This product is dangerous because people don’t understand the impact, the safety issues,” said Sen. Emmett Hanger, R-Augusta, who introduced the legislation. Since the personal possession and home cultivation of marijuana became legal in the commonwealth last year, but not commercial recreational sales of the drug, which is currently restricted to licensed medical dispensaries, have led to a wide variety of products that may or may not be legal being sold in retail outlets. As reported by The Mercury last month, gas stations, health food stores, and marijuana retailers sold mislabeled products that contained illegal amounts of delta-9 THC marketed as the supposedly legal delta-8 counterpart. Wrangling between the Republican-controlled House and Democratic-controlled Senate this year failed to produce a solution for legalizing recreational sales.
Marijuana Moment, Marijuana Moment, 03/17/2022 08:53:00
Georgia House And Senate Pass Differing Medical Marijuana Bills To Jumpstart Stalled Program
Some long-awaited relief through cannabis oil could be in sight for some Georgians with serious health conditions. State House lawmakers approved a do-over of the state’s medical-marijuana program, which has been stalled in court. The measure passed 169-5 Tuesday, and a separate medical marijuana measure passed the Senate unanimously. “I wish I could say we’re in a good spot, but we’re not,” said Glennville Republican Rep. Bill Werkheiser, the bill’s sponsor. “We’ve had patients now numbered 20,000—20,000families waiting for us to do something. If we do nothing, we’re in a bad position. If we do something, it’s not so great either, but I think we’ve got something that will move the process forward.” If the bill passes the Senate and receives Republican Gov. Brian Kemp’s signature, the state will be required to obtain low-THC cannabis oil “from any available legal source” by August 1 and begin providing it to patients now on the state registry by August 15. The state will also cancel the previous application process and begin anew, choosing another six providers. Companies that applied last time can apply again and will not have to pay the application fee.
Marijuana Moment, Marijuana Moment, 03/16/2022 10:24:00
New York Lawmakers Seek Tax Deductions For Marijuana Businesses In Budget Proposals, Despite Federal Ban
New York legislative leaders have filed budget proposals that include language to let marijuana businesses take state tax deductions that are available to other industries despite an ongoing federal ban. Both the Assembly and Senate budget measures that are expected to pass in advance of an April 1 deadline seek to carve out an exemption that would enable cannabis businesses to make the deductions as the state prepares to launch its adult-use market. Retailers could start opening as early as this year. This is not an issue that’s unique to New York’s marijuana industry. Medical and adult-use cannabis companies across the U.S. are precluded from making certain federal tax deductions under an Internal Revenue Code section known as 280E. Under 280E, businesses whose activities consist of “trafficking in controlled substances (within the meaning of schedule I and II of the Controlled Substances Act)” cannot make deduct most business expenses from their federal taxes or receive tax credits, even though they are still obligated to pay taxes like any other company. Because many states simply mirror federal tax policy in their own codes, the federal government’s anti-cannabis stance also blocks state-level deductions in some places.
Kyle Jaeger, Marijuana Moment, 03/16/2022 11:48:00
Rhode Island Senate Committee Discusses Marijuana Legalization Bill, With Advocates Urging Equity Revision
A Rhode Island Senate committee on Tuesday held the first hearing on a much-anticipated bill to legalize marijuana in the state. But while activists are eager to end cannabis criminalization, the measure faced pushback over a key provision concerning the proposed process for expunging prior convictions. The bill from Sen. Joshua Miller (D), which was unveiled earlier this month, was heard in the Senate Judiciary Committee. A companion House version from Rep. Scott Slater (D) has not yet been scheduled for a committee hearing. This development also comes two months after Gov. Dan McKee (D) included a proposal to end cannabis prohibition as part of his annual budget plan. Miller, who sponsored an earlier legalization proposal that was approved in the Senate last year, told fellow lawmakers that “observing and incorporating what works best in other states has helped to guide us to what we have before you today.” Preempting concerns about expungements language that would later be voiced by advocates testifying at the hearing, Miller said “we’ve made our best attempt” to get the provisions right. “The courts have been involved, the attorney general’s been involved, many of you have been involved,” he said.
Kyle Jaeger, Marijuana Moment, 03/15/2022 19:08:00
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Bipartisan State Attorneys General Call For Marijuana Banking Fix In New Letter To Senate Leadership
A bipartisan duo of Colorado and Ohio attorneys general recently sent a letter to U.S. Senate leadership, imploring the passage of a bipartisan bill to protect banks that work with state-legal marijuana businesses. The Senate has faced significant pressure to approve...
Ohio Could Generate $375 Million In Marijuana Tax Revenue Annually If State Legalizes, New Report Finds
Recreational marijuana in Ohio could mean up to $375 million in annual tax revenue for the state, according to new research from Ohio State University. The study, released just in time for America’s annual, informal marijuana celebration day Wednesday, uses tax...
New Jersey Attorney General’s Memo On Marijuana Use By Police Sparks Pushback As Legal Sales Launch
Marijuana sales for adults launched in New Jersey on Thursday to great fanfare—but a recent memo from the state attorney general clarifying that police can’t be punished for off-duty cannabis use is prompting some pushback. Regardless of the...
Kentucky Governor Announces Medical Marijuana Executive Steps, Slamming Senate Inaction
The governor of Kentucky on Thursday explained how he plans to advance the issue of medical marijuana administratively, criticizing the Senate for failing to heed the will of voters and for “obstructing” reform by refusing to even give a hearing to a House-passed bill...
Kentucky gov asks input, weighing action on medical cannabis
“The General Assembly is the policy-making body of this state, and we’ve seen the problems that result when the governor tries to circumvent the legislature and make unilateral policy decisions," Republican Attorney General Daniel Cameron said in a statement Thursday....
New Report: 66% of Americans Would Purchase Cannabis in Germany
The “green rush” in Europe has commenced, and Americans are ready to invest their time, travel plans, and money into the cannabis market across the pond, according to a new study. Today, Bloomwell Group, a Germany-based holding company for medical cannabis companies,...
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