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Cannabis Industry Business Professionals Blogs, Press Releases and News Articles from the best journalist in the industry. Stay updated on all news from many online cannabis news outlets, on MjLink.com

Cannabis Business Times

Cannabis Business Times is owned by GIE Media, based in Valley View, Ohio. CBT’s mission is to help accelerate the success of legal cannabis cultivators by providing actionable intelligence in all aspects of the business, from legislation, regulation and compliance news to analysis of industry trends, as well as expert advice on cultivation, marketing, financial topics, legal issues and more.

CBT focuses strictly on the business of legal cannabis for medical and recreational use and aims to provide timely information—through its website, e-newsletter, mobile app, print magazine and annual conference—to help the reader make timely, informed decisions to help them run their businesses better and more profitably. In 2018, Cannabis Business Times was named Magazine of the Year by the American Society of Business Publication Editors.

Joe Caltabiano Explains Decision to Resign from Cresco Labs

Cannabis Business Times Marijuana News Wednesday, 04 March 2020

On March 2, Cresco Labs co-founder Joe Caltabiano announced that he had resigned from his role as president effective immediately, a decision that he says he had been considering and discussing with the Cresco team for a few weeks.

Caltabiano co-founded the Chicago-based multi-state operator in 2013, and says it is time for him to “step back and look at some opportunities that I’ve always wanted to pursue,” as his skillsets no longer align with Cresco’s future needs.

“My skills were very tied to the early success of the organization and building it and running into brick walls and overcoming obstacles,” Caltabiano said in an interview with Cannabis Business Times. “When you’re starting out in a start-up company, it is growth at all costs. You make a lot of decisions on how to drive growth within the organization, and as a company matures, it starts being less about growth and more about return on invested capital and how do you maximize dollars for your shareholders in the long-run. And those are very different skillsets and very different ideals that sometimes coincide but sometimes conflict.”

He said as a Cresco shareholder, he wants to be sure that every decision made is “for the best interest of shareholders of the organization.”

Caltabiano says he hopes to continue his role on Cresco’s board, but believes that the 1,800-person company operating in about a dozen states has good, stable footing and that now is an “opportune time” for him to leave.

“Any time you step away, it’s a difficult time. There’s never the perfect opportunity, but I felt like we’ve accomplished so many things this year with getting Illinois [adult-use] launched and closing on the Origin House transaction," he said, also noting the launch of Cresco's Sunnyside branded dispensaries. "All … that we’ve accomplished really put Cresco in a great position now and in the future.

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World Health Organization Delaying Cannabis Rescheduled Vote Yet Again

Cannabis Business Times Marijuana News Wednesday, 04 March 2020

The United Nations Commission on Narcotic Drugs was expected to vote this week on the World Health Organization’s recommendation to reschedule cannabis under global drug treaties, a long-awaited move that would shift how international markets engage one another in cannabis trade.

That’s not happening, however, as the vote has been delayed for a second time amid significant debate.

The UN Commission is now looking to a possible vote in December 2020.

The WHO recommended last year that the UN Commission remove cannabis from its list of banned substances and reschedule the plant as a pharmaceutical drug. If approved, this move would open the door to more feasible international trade and research.

In January, Somai Pharmaceuticals Chairman of the Board Michael Sassano (based in Ireland), told Cannabis Business Times that European Union member nations were urging this planned March vote. Some countries in Europe already regulate medical cannabis as a pharmaceutical drug, and the WHO recommendations would only align international policy with those specific national rules.

“Basically, the removal of cannabis and cannabis resin from Schedule IV means that it has medicinal value, but it is still Schedule I, meaning it is a narcotic and handled as such through pharmacies,” Sassano said.

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Cannabis Conference Appoints Cassie Neiden as Conference Programming Director

Cannabis Business Times Marijuana News Wednesday, 04 March 2020

Feb. 25, 2020 – Cleveland, OH – Due to the continued growth of GIE Media’s Cannabis Conference, an annual event that bring industry stakeholders together to address the biggest opportunities and challenges facing the legal cannabis market, GIE Media is pleased to announce the addition of Cassie Neiden to fill the newly created role of Conference Programming Director.

Neiden joined Firelands Scientific as the vertically integrated cannabis company’s director of marketing and communications in April 2019. She helped launch the company’s infused products line, including tinctures, edibles, solventless concentrates and more. Neiden also led the company’s efforts around patient education and community outreach within the tightly regulated framework of Ohio’s nascent medical cannabis market.


Previously, Neiden served as the managing editor for Cannabis Business Times, Cannabis Dispensary and Cannabis Conference. She is also an experienced freelance writer, with bylines in publications such as Martha Stewart Weddings, Yahoo! Tech and Cleveland Magazine.

In 2018, Neiden received an “Editor of the Year” honorable mention at Folio:’s Eddie and Ozzie Awards gala in New York City. She is a graduate of Kent State University’s School of Journalism & Mass Communication with a bachelor’s degree in magazine journalism.

In her new role with Cannabis Conference, Neiden will work directly with the editorial director, group publisher and marketing director to continually raise the level of education offered and drive conference attendance growth annually. She will work with the editorial teams to develop session topics for events and to identify speakers in collaboration with advisory boards for both the magazines and the conference.

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How Colorado Maintains Its List of Approved Pesticides for Cannabis Crops

Cannabis Business Times Marijuana News Wednesday, 04 March 2020

While the 2018 Farm Bill’s legalization of industrial hemp opened the door for federal guidance regarding pesticide use on the plant, only a handful of products have been approved by the Environmental Protection Agency (EPA), according to John Scott, pesticides program manager and section chief at the Colorado Department of Agriculture (CDA).

Colorado has taken matters into its own hands, and maintains a list of approved pesticides that can be used on cannabis under the state’s Pesticide Applicators’ Act.

“When we knew that recreational marijuana was going to be legalized, we knew we had to identify tools that the industry could use,” Scott tells Cannabis Business Times. “[During] initial discussions with the EPA, we started to identify what type of criteria those products would need to meet so products could legally be applied to cannabis. … We wanted to be able to use known science. The EPA has gone through and done the risk assessments on these products and identified which ones were of lower toxicity, and therefore they were tolerance exempt—the risk assessments have been done and they can be applied to commodities that would be ingested, like food crops. If they were going to be smoked, … through the risk assessment process, [the EPA] had pyrolysis studies done.”

Colorado derived its Pesticide Applicators’ Act from the Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA) to regulate pesticide use in the state across all crops. If applicators misuse pesticide products, the Pesticide Applicators’ Act allows the CDA to issue a $1,000 fine for each violation it identifies. For second offenses, that fine can be doubled.

“We do have the authority to revoke licenses [and] issue injunctions, so it can increase past the point of a civil penalty,” Scott says.

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New Petitions Filed to Launch Adult-Use Program in Ohio: Legalization Watch

Cannabis Business Times Marijuana News Wednesday, 04 March 2020

An Ohio group has filed petitions to add a “Regulate Marijuana Like Alcohol” amendment to the state’s constitution. If the proposed amendment makes it to the ballot in November and passes, it will allow adult-use cannabis sales to commence in Ohio on July 1, 2021.

Tom Haren, a partner at Frantz Ward and spokesman for the Regulate Marijuana Like Alcohol group, told Cannabis Dispensary that the decision to file the petitions arose in light of confusing 90-day product allotments in its medical program and a refusal by the state medical board to add qualifying conditions to the program.

A lack of access for Ohioans with conditions such as anxiety and autism, and the need to provide them with product, are among those concerns about qualifying conditions, Haren says.

“A number of people have had doubts for a while about this state's willingness and interest in actually providing a program that works for Ohio patients,” he says.

RELATED: Ohio’s Medical Cannabis Is Too Expensive and Inconvenient, According to a Patient Survey

The Ohio Attorney General has 10 days from the filing date of March 2 to certify ballot language, according to a press release from Regulate Marijuana Like Alcohol.

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Cannabis Conference Appoints Cassie Neiden as Conference Programming Director

Cannabis Business Times Marijuana News Wednesday, 04 March 2020

March 4, 2020 – Cleveland, OH – Due to the continued growth of GIE Media’s Cannabis Conference, an annual event that brings industry stakeholders together to address the biggest opportunities and challenges facing plant-touching businesses in the legal cannabis market, GIE Media is pleased to announce the addition of Cassie Neiden to fill the newly created role of Conference Programming Director.

Previously, Neiden served as the managing editor for GIE Media’s Cannabis Business Times, Cannabis Dispensary and Cannabis Conference. She is also an experienced freelance writer, with bylines in publications such as Martha Stewart Weddings, Yahoo! Tech and Cleveland Magazine. She left GIE in April 2019 to join Firelands Scientific as the vertically integrated cannabis company’s director of marketing and communications. She helped launch the company’s infused products line, including tinctures, edibles, solventless concentrates and more. Neiden also led the company’s efforts around patient education and community outreach within the tightly regulated framework of Ohio’s nascent medical cannabis market.

 
Neiden

In her new role with Cannabis Conference, Neiden will work directly Cannabis Group’s editorial and conference advisory teams to continually raise the level of education of the company’s in-person events. She will be responsible for the development of educational programming and speaker acquisition, and will work as a liaison with GIE Media’s marketing team to boost event awareness and promotion.

“We are excited to welcome Cassie back to GIE Media as the Cannabis Group’s first Conference Programming Director,” said GIE Media Group Publisher Jim Gilbride. “Now in its fourth year, Cannabis Conference continues to offer insight into the rapidly growing the cannabis market for senior management at cultivation and dispensary businesses, and we look forward to Cassie’s contributions as she helps continue to expand the conference’s educational content and attendance.”

“Cassie’s extensive experience with GIE Media’s cannabis brands, as well as her background in the industry, will serve her well in this new role as we continue to grow Cannabis Conference to best serve the market,” said Editorial Director Noelle Skodzinski.

About Cannabis Conference 2020

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Utah’s First Medical Cannabis Dispensary Opens

Cannabis Business Times Marijuana News Tuesday, 03 March 2020

Utah’s first medical cannabis dispensary, Dragonfly Wellness, opened in Salt Lake City March 2, as the state launched a slow rollout of its medical cannabis program, according to an ABC News report.

The online application process for patients to obtain medical cannabis cards launched March 1, the news outlet reported.

Gov. Gary Herbert signed legislation Feb. 28, just days before the medical cannabis program launched, that fine-tuned the state’s medical cannabis law. Key changes include dosage form requirements for cannabis products and provisions that protect state employees from penalties for using medical cannabis. Private businesses are not required to allow their employees to use medical cannabis under the law, however.

Utah’s second dispensary is expected to open this month, with seven more opening by June, according to ABC News. The state’s last five dispensaries will open in July.

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Tennessee Lawmakers Plan to Introduce New Medical Cannabis Legislation

Cannabis Business Times Marijuana News Tuesday, 03 March 2020

Tennessee lawmakers plan to introduce a new medical cannabis legalization bill, called the Clinical Cannabis Authorization and Research Act, according to the Tennessean.

The legislation, which will be introduced through amendments by Sen. Steve Dickerson and Rep. Bryan Terry, would allow cannabis oils, tinctures, lotions and capsules, but not smokable cannabis, vapes or edibles, the news outlet reported.

The bill would create a regulatory framework for licensed businesses to grow and sell cannabis products, beginning by the end of this year, according to the Tennessean. Licenses would be capped at six medical cannabis cultivators and 75 dispensaries, but the state could also issue nine vertically integrated cannabis licenses, which would allow businesses to grow, process and sell cannabis products at up to five dispensary locations, the news outlet reported.

The legislation would also establish a new regulatory body, called the Clinical Cannabis Commission, which would issue medical cannabis cards to patients with one of a few dozen qualifying conditions who have been given a recommendation from a medical practitioner, the news outlet reported. Patients would be limited to a maximum of 2,800 milligrams of THC within a 30-day period under the bill.

Sen. Janice Bowling has also introduced medical cannabis legislation this year; in January, she reintroduced a bill that would allow qualified patients to access medical cannabis and license businesses to grow, distribute, transport and sell cannabis products for both medical use and scientific research.

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Maine Lawmakers Vote to Allow Adult-Use Cannabis Delivery

Cannabis Business Times Marijuana News Tuesday, 03 March 2020

Maine lawmakers voted March 2 to allow regulators to license adult-use cannabis delivery businesses, according to a Portland Press Herald report.

The legislative committee that oversees the state’s adult-use cannabis market approved a bill that would allow the Maine Office of Marijuana Policy to create and adult-use cannabis delivery license, the news outlet reported.

Lawmakers banned the sale of adult-use cannabis through vending machines, drive-thrus, online platforms and delivery services during their rewrite of the 2016 voter-approved initiative that legalized adult-use cannabis in the state, according to the Portland Press Herald. (Medical cannabis businesses, on the other hand, have always been authorized to deliver products to patients.)

When Senate President Troy Jackson first proposed L.D. 1621, opponents argued that its passage would force the Office of Marijuana Policy to rework its licensing regulations, which would ultimately delay the state’s launch of its adult-use cannabis market, according to the Portland Press Herald.

However, the committee vote could signal a shift on the issue of adult-use cannabis delivery, the news outlet reported. Supporters of the bill were able to win approval, in part, due to an amendment that bans home deliveries after 7 p.m. The legislation passed out of committee in a 7-3 vote, the Portland Press Herald reported.

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DNA Genetics Announces Strategic Partnership with Pennsylvania Medical Cannabis Company

Cannabis Business Times Marijuana News Tuesday, 03 March 2020

LOS ANGELES, March 03, 2020 (GLOBE NEWSWIRE) -- PRESS RELEASE -- OG DNA Genetics, a globally recognized cannabis brand, has announced a licensing agreement with PurePenn LLC, a cultivator and producer of pharmaceutical-grade cannabis capsules, concentrates, tinctures, flower and oils for the Pennsylvania market.

The agreement will grant PurePenn license to the DNA brand, access to its proprietary award-winning genetics and standardized operating procedures for their cultivation at the PurePenn cultivation facility in McKeesport, Penn. PurePenn’s high-tech facility will be comprised of approximately 125,000 square feet of indoor cultivation and production upon completion of its ongoing expansion efforts.

“By partnering with PurePenn, we ensure a mutually beneficial relationship built on the foundation of commitment to quality and best practices,” said Don Morris, co-founder of DNA. “Each time we explore a potential licensing agreement, we look for the best possible partner in each market – PurePenn is that partner for Pennsylvania.”

Dedicated to cutting-edge innovation using the latest technology, highly trained and experienced scientists and operators, and the strictest safety standards, PurePenn's mission is to create the best marijuana-based medicine in Pennsylvania for patients in need.

For more than 15 years, genetics developed by DNA have won more than 200 awards in all categories at the most prestigious cannabis events around the world, making DNA the global standard in breeding and growing truly best-in-class strains. These awards include the High Times ‘Top 10 Strain of the Year’, which was inducted into The High Times seedbank hall of fame in 2009, the High Times 100 list of the most influential people in the industry and the High Times Trailer Blazers Award, for contributions made towards uniting the fields of entrepreneurship, politics and medicine.

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Co-Founder Joe Caltabiano Resigns as President of Cresco Labs

Cannabis Business Times Marijuana News Tuesday, 03 March 2020

CHICAGO (March 2, 2020)—PRESS RELEASE—Joe Caltabiano has announced his resignation as president of Cresco Labs. He intends to continue his role on Cresco’s Board of Directors.

“As the founder who brought the initial idea of entering into the regulated cannabis industry to the original Cresco team in 2013, this day is bittersweet,” Caltabiano noted. “Starting Cresco, and watching it grow to become one of the most important cannabis companies in the industry has been a dream come true. However, as a serial entrepreneur, I know it’s time for the next challenge. I leave the company in a great position to further our original mission.”

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Medical Cannabis Legalization Bill Gains Momentum in Kentucky Legislature

Cannabis Business Times Marijuana News Tuesday, 03 March 2020

The Kentucky House passed a medical cannabis legalization bill Feb. 20, marking the first time legislation to legalize medical cannabis has received a full House vote in the state. While the momentum is encouraging, Matt Simon, legislative analyst at the Marijuana Policy Project ,said the bill’s fate in the Senate is still uncertain.

“It’s the first time a cannabis bill has received a vote in either chamber,” he told Cannabis Business Times. “Advocates have been pushing for years, and they finally got a bill out of committee last year, but couldn’t get a full floor vote, so this was the first time. It passed with a very healthy margin, and now the Senate is likely to be rather more challenging.”

While medical cannabis legalization may have the support it needs among senators, its Senate leadership that worries Simon.

“Senate President Robert Stivers in particular has been completely opposed to it,” he said. “Stivers said a year and a half ago that if patients want to feel better, they should drink Kentucky bourbon instead of [using] cannabis. … He and the other members of leadership have just fought tooth and nail to keep this from getting considered.”

However, momentum has been building in the state for years, and Simon said patients have been active for quite some time, coming to the statehouse and being persistent about meeting with lawmakers. The efforts have finally tipped the scales in the House, Simon said, and he hopes the Senate will listen to the people and approve the legislation before the legislative session ends March 31.

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On Super Tuesday, Where Does the Cannabis Industry Fit In?

Cannabis Business Times Marijuana News Monday, 02 March 2020

So far in this election cycle, cannabis reform hasn’t been a significant issue. Earlier in February, the question came up at the South Carolina debate, but the mechanics of any one candidate’s cannabis reform plan haven’t yet received close scrutiny from the press or Washington power brokers.

Across the board, it’s not even a cut-and-dried issue on the Democratic side of the primary season. Most of the remaining candidates support some degree of legalization, while Joe Biden and Michael Bloomberg have stuck close to the decriminalization argument. It’s a point that’s taken a backseat to more immediate national interests and broader economic and health care-related issues, but nonetheless the open question of cannabis reform is more visible than it’s ever been in presidential politics.

We published a poll asking cannabis business owners where they’re leaning as primary season heats up. Prior to Super Tuesday, we had at least seven candidates on the board. Then, Pete Buttigieg and Amy Klobuchar dropped out of the race.

In our poll, Buttigieg got the vote from 16% of respondents—second place overall in our results. While he went on to endorse Biden Monday night in Dallas, it’s unclear whether his base will follow his endorsement.

Much like in the actual primary campaign, Bernie Sanders led our poll with 44% of the vote (of 80 responses). He has maintained a strong pro-cannabis reform stance for a long time, speaking regularly about the importance of social justice and small business development—and going so far as to promise some sort of executive action on the first day of his presidency to legalize cannabis.

Here’s the full list of poll results:

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Canada Health Department Forms Committee to Study Cannabis

Cannabis Business Times Marijuana News Monday, 02 March 2020

Health Canada, the country’s department of health, is starting a committee to research how cannabis and related products can, or should, be used without a prescription or a doctor’s oversight.

The Science Advisory Committee for Health Products Containing Cannabis will “provide independent scientific and clinical advice to support the department’s consideration of appropriate safety, efficacy and quality standards for health products containing cannabis, including the conditions under which these products would be suitable to be used without practitioner oversight,” according to a news release.

The committee’s formation is part of an initiative to form cannabis-related regulations that began in Canada in 2018. As part of that initiative, from June to September of 2019, Health Canada sought feedback from the public and from industry professionals regarding the products they’d be interested in manufacturing, selling or purchasing if a legal pathway were established.

The focus of the new committee is on evidence-based advice and guidance. The committee will review available evidence regarding the use of products containing cannabis and will address specific scientific questions, review current and emerging scientific and clinical issues and provide evidence-based advice to help inform a potential regulatory path forward.

A sub-committee will also be formed to address cannabis use in animals.

The committee will be examining the evidence surrounding the safety, efficacy and quality of cannabis and specific cannabinoids when used therapeutically. The committee will also look at the current regulatory framework for cannabis products, the safety profile of existing products and what factors should be considered when determining dosage thresholds of specific cannabinoids.

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New Jersey Cannabis Regulatory Commission Gets First Member

Cannabis Business Times Marijuana News Monday, 02 March 2020

New Jersey Senate President Stephen Sweeney has appointed social worker Krista Nash as the first official member of the state’s Cannabis Regulatory Commission, a panel charged with regulating the state’s cannabis industry, according to an NJ.com report.

The commission still needs four additional members before it can become operational, the news outlet reported; Gov. Phil Murphy must appoint three members and State Assembly Speaker Craig Coughlin must appoint one under New Jersey’s expanded medical cannabis law.

The Jake Honig Compassionate Use Act, signed into law last year, expanded New Jersey’s medical cannabis program and established the commission to oversee it, NJ.com reported. (The New Jersey Department of Health has been handling the program.)

Once fully staffed, the commission will be responsible for drafting regulations for the state’s medical cannabis industry and, potentially, a legal adult-use cannabis market, if New Jersey voters approve an adult-use legalization ballot measure this November.

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Utah Governor Signs Legislation to Fine-Tune State’s Medical Cannabis Law

Cannabis Business Times Marijuana News Monday, 02 March 2020

Utah Gov. Gary Herbert signed legislation Feb. 28 that fine-tunes the state’s medical cannabis law days before the state is set to launch its first medical cannabis sales, according to a local KSL News Radio report.

S.B. 121, sponsored by Sen. Evan Vickers, contains several amendments to the state’s Medical Cannabis Act, which the legislature approved in December 2018 to make changes to Utah’s voter-approved medical cannabis ballot initiative.

Key changes include dosage form requirements for medical cannabis products and a provision that allows Utahns to bring medical cannabis in from outside the state in certain situations, KSL News Radio reported.

The law also allows certain cultivation facilities to operate at two locations and allows the facilities to hold educational events, as long as they comply with the Utah Department of Agriculture’s regulations, according to the news outlet.

Employees working for state-owned businesses are protected from penalties for using medical cannabis use under the new law, but private business owners are not required to allow their employees to use medical cannabis, KSL News Radio reported.

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Minnesota Regulators Want Lawmakers to Establish a State Cannabis Office

Cannabis Business Times Marijuana News Monday, 02 March 2020

Minnesota regulators have asked lawmakers to establish a state cannabis office to oversee the state’s medical cannabis, hemp and CBD industries, as well as, potentially, an adult-use market, according to a Star Tribune report.

Officials from the state’s Pharmacy Board and departments of Agriculture, Health and Public Safety have asked for a centralized body, called the Office of Cannabis Management, to regulate the industry and prepare the state for the potential legalization of adult-use cannabis in the future, the news outlet reported. According to the various agencies, having one office to oversee the entire industry would bring together a variety of experts and help streamline regulation efforts, Star Tribune reported.

Patient enrollment in Minnesota’s medical cannabis program grew 27% from 2018 to 2019, and more than 18,000 patients are currently enrolled, according to the news outlet. In addition, the number of hemp farmers in the state grew from roughly 50 to 400 in the same timeframe, and more CBD products are increasingly being sold across the state, Star Tribune reported.

The Agriculture Department currently oversees Minnesota’s hemp program and has attempted to regulate CBD products alongside the Board of Pharmacy, according to the news outlet.

Regulators made a formal request to the Minnesota Legislature in January for a central cannabis office, Star Tribune reported, and members of a state work group have said that the proposed Office of Cannabis Management would help ease the regulatory burden on the other state agencies, which often do not have the manpower to oversee all facets of the cannabis industry.

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Lawmakers to Hold Public Hearing on Bill to End Marijuana Prohibition in Connecticut

Cannabis Business Times Marijuana News Monday, 02 March 2020

Hartford, CT — PRESS RELEASE — On March 2, the Judiciary Committee will hold a public hearing on legislation that would end prohibition and regulate marijuana for adult use in Connecticut.

In early February, Senate President Pro Tem Martin Looney (D) and House Speaker Joe Aresimowicz (D) introduced Governor’s Bill No. 16, which would allow adults 21 and older to possess and purchase up to one and a half ounces of cannabis from licensed retailers. A summary of the marijuana regulation bill can be found here.

Prior to the hearing, the Connecticut Coalition to Regulate Marijuana joined together with prominent supporters for a press conference to rally support for legislation to legalize, regulate and tax marijuana for adult use in Connecticut.

Veterans, civil rights activists, clergy, law enforcement, healthcare professionals, minority business advocates, economists, social workers, state leaders and legislators came together to voice their support for action on the Governor’s Bill and stayed to testify at the public hearing.

Organizations represented included the Connecticut Coalition to Regulate Marijuana; the Commission on Women, Children, and Seniors; the New England Veterans Alliance; the Minority Cannabis Business Association; Clergy United for Marijuana Reform; the State Department of Consumer Protection; Doctors for Cannabis Regulation; Iraq and Afghanistan Veterans of America; ACLU CT; The Connecticut Center for Economic Analysis at the University of Connecticut, School of Business; the Connecticut Progressive Caucus; the Working Families Party; and municipal and state representatives of Bloomfield, Bridgeport, East Hartford, Hamden, Hartford, New Haven, and Stamford. 

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Univo and Canopy Growth Sign Collaboration Agreement to Import, Produce, Market and Export Medical Cannabis Products in Israel

Cannabis Business Times Marijuana News Monday, 02 March 2020

Ashkelon, March 1, 2020 – PRESS RELEASE – Univo (TASE: UNVO), which owns a plant for the production of medical cannabis products under the new Ministry of Health regulations and sells products in accordance with the IMC-GMP standard to pharmacies in Israel, and also owns a farm currently under construction for the cultivation of medical cannabis, has announced an agreement with Canopy Growth for exclusive collaboration in Israel.

Canopy is traded on the Toronto Stock Exchange (TOR:WEED.CA) at an estimated value of 8.8 billion Canadian dollars, and on the New York Stock Exchange (NYSE:CGC) at a value of 6.6 billion U.S. dollars. The company has more than 3,000 employees and is one of the companies holding the most extensive knowledge and experience in the world, including in the operation of medical cannabis growing farms in the United States, in Europe and in Africa. The agreement with Univo is the company’s first entry into Israel.

As part of the exclusive agreement in Israel, Univo will in the first stage import into Israel 470 kg of dry medical cannabis grown by Canopy, produce its products with Canopy’s raw materials – products that will bear Univo’s logo and brand, and will exclusively distribute them as finished products in pharmacies in the Israeli market. Univo will import and produce under the GACP standard from which it will produce GMP-standard products, subject to the approvals and guidelines of the Medical Cannabis Agency at the Ministry of Health. In the second stage, Canopy will order manufacturing and processing services from the company at its plant in Ashkelon and will have the right to enter into agreement with Univo as producer and distributor of medical cannabis products under the EU-GMP standard in European markets, subject to the required approvals.

Golan Bitton, CEO of Univo, said, “The agreement with Canopy is a strategic move attesting to Univo’s positioning in the local and the international market as a leading company. The agreement is also proof that there is an advantage in building a technological plant with a large production capacity and with future technological capability for producing products of high quality and to international standards. The agreement will enable us to grow both our market share in Israel, without being dependent on the farm and on local supply, and to continue selling and expanding our product portfolio of medical cannabis products of the highest quality, while laying the foundation for Canopy to produce in the international market.”

Univo recently completed expansion of a commercial agreement with Can-Fite, whereby the parties expanded the scope of the collaboration between them for research on the integration of medical cannabis into the treatment of liver cancer and other cancer indications. Under this framework, Univo will receive an additional c. 400,000 dollars after already having received 500,000 dollars from Can-Fite and allotment of shares without consideration (holding 8.57% of Can-Fite).

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Vermont Advances Bill to Legalize Adult-Use Cannabis Sales, New Mexico Will Honor Out-of-State Medical Cannabis Cards: Week in Review

Cannabis Business Times Marijuana News Saturday, 29 February 2020

This week, Vermont inched closer to legalizing adult-use cannabis sales when the House approved S. 54, legislation that would establish a regulated-and-taxed cannabis market in the state. Elsewhere, in New Mexico, the state’s health secretary signed a reciprocity rule that allows the state to honor medical cannabis cards from other states.

Here, we’ve rounded up the 10 headlines you need to know before this week is over.

New Mexico: Although Gov. Michelle Lujan Grisham signed a law last week that reinstated a residency requirement for patients enrolled in New Mexico’s medical cannabis program, Health Secretary Kathyleen Kunkel implemented a reciprocity rule that allows New Mexico to honor medical cannabis cards from other states starting July 1. At least 613 non-residents have enrolled in New Mexico’s medical cannabis program since the residency requirement was eliminated last year. Read morePennsylvania: Four new companies have been approved to cultivate cannabis for research purposes in Pennsylvania in partnership with the state’s medical schools. Under state law, eight companies—called “clinical registrants”—can grow, process and dispense cannabis for research institutions, and the four new licensees bring the total number of clinical registrants to seven. Read moreNew York: Gov. Andrew Cuomo has announced plans to tour legal cannabis states as part of his effort to legalize adult-use cannabis in the Empire State this year. Cuomo plans to visit Massachusetts, Illinois and either California or Colorado to find out which aspects of their legal cannabis program have worked and which have not, as well as their lessons learned. Read moreIllinois: Tax revenue from Illinois adult-use cannabis sales surpassed $10 million in January, which puts the state on track to top Gov. J.B. Pritzker’s budget estimates of $28 million in cannabis tax revenue by June 30. Illinois collects sales tax, as well as an additional cannabis tax, on adult-use sales, and January sales brought in more than $3.1 million in sales tax revenue and more than $7.3 million in cannabis tax revenue. Read moreMassachusetts: The Cannabis Control Commission has announced plans to hire additional staff in order to cut the average wait time for cannabis business licenses from 121 days to 60 days. The agency unveiled its plan at a Joint Ways and Means Committee budget hearing Feb. 24 to address one of the most common complaints from prospective cannabis entrepreneurs. Read moreKentucky: Lawmakers have introduced new legislation in the House that calls for more medical cannabis research, days after the full House approved legislation to legalize medical cannabis in the state. The bill, backed by opponents of medical cannabis legalization, has cleared a Senate panel in a unanimous vote, and now heads to the full Senate for consideration. Read moreMaine: The Office of Marijuana Policy has indicated that the state is still months away from launching adult-use cannabis sales, although regulators expect stores to start opening later this spring, once the state has an adult-use cannabis testing lab. Regulators are currently processing one adult-use cannabis testing application, submitted by Kennebunk’s Nelson Analytical, but the application has not been officially approved. Read moreMaine also announced plans this week to establish a new division within the state Drug Enforcement Agency to monitor cannabis regulatory compliance and illicit market activity. The announcement has sparked controversy among cannabis advocates, who say regulators should be trying to help businesses comply with state regulations instead of prosecuting them. Read moreVirginia: Lawmakers have introduced new legislation to tweak the state’s medical cannabis program, including a bill that would allow nursing homes to administer medical cannabis. Sen. Siobhan Dunnavant’s S.B. 185 would authorize caregivers at nursing homes, assisted living facilities and hospices to administer medical cannabis to patients who have been certified and enrolled in Virginia’s medical cannabis program. Read moreVermont: The House of Representatives has advanced S. 54, a bill to legalize, regulate and tax adult-use cannabis sales in the state. The legislation now returns to the Senate, which has already passed the bill, and which must now work out differences with the House before sending a final version of the bill to Gov. Phil Scott’s desk. Read more
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