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Marijuana Business News

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Fri
07
Oct

ARCO National Const. completes new facility for Temescal Wellness

North Adams, MA Temescal Wellness, a high-quality medical and recreational cannabis company, recently celebrated the grand opening of its new 71,400 s/f cannabis grow facility.

The facility will increase the company’s production and cultivation capacity, allowing it to expand its portfolio of product offerings for consumers throughout the region.

Fri
07
Oct

Morocco Issues First Cannabis Production Permits

morocco

Morocco issued the first permits for legal cannabis production this week, but some farmers in the country’s traditional hashish production region wonder if they will benefit from reform.

The northern African nation of Morocco formally launched its legal cannabis industry this week with the issuance of the country’s first 10 permits to produce cannabis. The Moroccan government legalized the regulated production and commercialization of cannabis for medicinal and industrial purposes in March of last year, giving its limited stamp of approval to an industry that has thrived in the country for hundreds of years.

Fri
07
Oct

So far, hemp crop hasn’t grown to vision in Halifax County

business

When former Gov. Ralph Northam visited South Boston to christen the Golden Piedmont Labs hemp processing and CBD-extraction facility in October 2020, state and community leaders touted the project as having the potential to restore the region to pre-NAFTA, tobacco-era economic glory.

“It’s wonderful to finally have something to really rejoice about, because we’ve had a lot of downturns,” Mattie Cowan — formerly of Halifax County Industrial Development Authority — said in 2020. “This helps farmers throughout our region; I think it’s going to be exceptional for the region.”

So far, the hemp craze has not lived up to its original hype.

Fri
07
Oct

Amazon, Supporter of Cannabis Reform, Continues To Ban Grinders

Grinder sellers are tired of getting dropped after being flagged by Amazon algorithms.

On one hand Amazon, the world’s largest retailer, openly supports specific pieces of cannabis legislation for reform and allows unregulated employees to consume cannabis on their own time. But on the other hand, harmless accessories like grinders are inconsistently flagged and banned from the platform, sending mixed messages, as Harris-Bricken’s Canna Law Blog pointed out.

Fri
07
Oct

How legal weed has changed the USA

legal weed flag

 

Turn an illicit product into a highly taxed and regulated one and you have a classic business experiment.

Do it with a little-studied psychoactive substance that has both medical promise and addictive potential and you have a public health trial, too. That’s what the US has done with cannabis, otherwise known as marijuana, pot or weed. Changes in state laws since 1996 have given 74% of the US population access to some form of legal cannabis. Now President Joe Biden is taking steps toward decriminalizing marijuana on the federal level.

Fri
07
Oct

New cannabis law presents opportunities, challenges for Farms

farm minnesota

Thanks to a significant change in the law, the Eden Prairie-based Peterson Farms can now add THC-infused food and beverages to Verist, its full line of farm-crafted CBD remedies.      

This new law took effect on Aug. 1 and allows the sale and consumption of certain THC-edible products to those age 21 and older. The product must contain no more than five milligrams of THC in a single serving and no more than 50 milligrams of THC per package.

The Petersons maintain their vertical or “farm to table” business model with Verist. They grow the hemp, harvest it, turn it into finished consumer products and sell those products to retailers and consumers.

Fri
07
Oct

The Winners and Losers from Biden’s big pardoning News

biden

While the marijuana industry wants cannabis to be de-scheduled, some have argued that moving the cannabis plant to a lower Schedule 2 or 3 drug could be even worse as the whole industry could be handed over to pharmaceutical companies.

As my phone lite up with news about President Biden’s big cannabis industry news, I immediately realized politics are a game of give and take, so why right now, Joe?  Why did President Biden pick Thursday to announce the pardoning of thousands of cannabis offenders and tell his Attorney General Merrick Garland to expeditiously review the cannabis plant’s listing as a Schedule 1 drug?

Thu
06
Oct

Committee in Colombia approved adult-use Legalization Proposal

A legislator in Colombia, Liberal Rep. Carlos Ardila, proposed a cannabis bill that passed in the First Commission of the House of Representatives on Oct. 4.

“With 31 votes in favor and 2 against, the #FirstCommission of @CamaraColombia approved, in the first debate, our draft legislative act to regulate cannabis and guarantee tax revenue for municipalities, districts and departments. #OpportunityForTheRegions #RegulateNow,” Ardila wrote on Twitter.

Thu
06
Oct

Nevada marijuana sales near $1 billion for year

Nevada’s legal recreational and medical marijuana dealers sold just shy of $1 billion worth of pot in the fiscal year ended June 30.

Those dispensaries reported just over $965 million in taxable sales during the year. That total is a 4 percent decrease from the previous fiscal year when taxable sales totaled more than $1 billion.

Of that, 78 percent or $754.3 million was generated in Clark County. Wahoe County reported $126.8 million in taxable sales, just over 13 percent of the total.

The rest was in Nevada’s rural counties. The remaining 9 percent or $83.8 million was generated in the other 15 Nevada counties including Carson City.

Those taxable sales generated $147 million in revenue that was transferred to the state education fund.

Thu
06
Oct

2023 Farm Bill: Potential savior for hemp-derived cannabinoids?

With 2023 just a few months away, Congress is going through its every-five-year exercise of passing a new Farm Bill, the omnibus legislation that funds agriculture projects across the country and a wide variety of other initiatives, including the Supplemental Nutrition Assistance Program (SNAP). 

Unlike 99% of bills introduced on Capitol Hill, the Farm Bill is a must-pass piece of legislation. Without it, the health and security of the U.S. food supply could be put at risk.

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