MjLink Cannabis Business News and Press
NEW YORK, December 14, 2022—PRESS RELEASE—The booming cannabis business offers many high-growth opportunities for entrepreneurs and those seeking an exciting new career. In the United States, cannabis sales will grow from $25 billion in 2021 to $40 billion in 2026, according to a recent Forbes article.
Capitalizing on the rising demand in this sector, the NYU School of Professional Studies (NYU SPS) is offering a brand-new continuing education program, the Certificate in the Business of Cannabis, in the Spring 2023 semester.
The Certificate fosters an in-depth understanding of the cannabis industry and its professional opportunities. Students will have the opportunity to learn about the unique aspects of the industry, including cannabis cultivation techniques, managing a dispensary, financial regulations, medical cannabis, and cooking with cannabis.
“NYU SPS developed this program in collaboration with industry professionals and thought leaders in the field, many of whom will also teach our courses,” said June Chin, MD, an adjunct professor at the School who helped to create the Certificate program and will teach The Chemistry of Cannabis: Medicine, Wellness, and Product Use in the Spring. A noted expert in developing medical cannabis protocols for the industry and internationally accepted methods for cannabinoid formulations, research, education, and training programs, she added, “This Certificate provides a distinctive credential for those seeking to develop the skills to transition into this thriving market.”
The Certificate consists of a required introductory course, Overview of the Cannabis Industry, which will include a visit to a local dispensary to learn firsthand what dispensaries do and how they operate. Upon completion of the introductory course, students are required to take four core foundational courses: Managing a Cannabis Dispensary and the Regulation of Operations; Cannabis Sales and Marketing; The Chemistry of Cannabis: Medicine, Wellness, and Product Use; and Cannabis and Social Equity Policy.
While a class action lawsuit unfolds over its worker layoffs in Florida, Trulieve announced this week it is also reducing staff at its McKeesport, Pa., cultivation and processing facility in Allegheny County, just outside of Pittsburgh.
The McKeesport worker cuts are due to greater efficiencies throughout the company’s operations, a Trulieve spokesperson said, ABC-affiliate WTAE reported. Trulieve officials did not say how many employees are affected, but the company will offer severance pay to those not able to move to other positions, the news outlet reported.
The Tallahassee, Fla.-based multistate cannabis operator acquired three buildings in McKeesport totaling more than 228,000 square feet, along with U.S. Steel’s former Guard House and 37 acres in land parcels, in an October 2021 transaction with the Regional Industrial Development Corp. (RIDC), a nonprofit dedicated to acquiring and redeveloping abandoned property like the steel mills.
At the time of that deal—which came with the help of a $2 million state redevelopment grant to assist in an expansion—Trulieve had planned to build a cultivation and processing facility comprising of more than 500,000 square feet and anticipated employing roughly 800 people, according to an RIDC press release.
“Trulieve’s expansion will help them meet the demands of their customers all while creating family sustaining jobs for Mon Valley residents,” former state Rep. Austin Davis, whose 35th District encompasses McKeesport, said at the time. Davis, who helped secure the $2 million grant, is the lieutenant governor-elect of Pennsylvania.
The news in McKeesport comes after employees impacted by Trulieve layoffs in Gadsden County, Fla., near the company’s headquarters, filed a class action lawsuit earlier this month against Trulieve, alleging that the company did not provide the required Worker Adjustment and Retraining Notification Act notice regarding the terminations. Trulieve disputes the allegations.
KANHA Nano gummies have expanded to Thailand, marking the first U.S. cannabis edibles to be available in Asia.
The gummies are produced by Sunderstorm, a California-based cannabis product manufacturer, in partnership with Geocann, a global cannabis research organization. KANHA edibles, which utilize Geocann’s VESIorb delivery system technology, launched in the U.S. in 2019 and are currently available in California, Colorado, Massachusetts, and Nevada.
Sunderstorm will work with THCG Group, a Thailand-based, vertically integrated medical cannabis licensee who will cultivate, produce and distribute KANHA edibles throughout the country, according to a release.
“Our partnership with Geocann is the platform for providing consumers around the world with safe and effective products that are validated in both peer-reviewed and well-designed pilot studies,” said Sunderstorm CEO Cameron Clarke. “The global demand for fast-acting and high-bioavailable cannabis products has increased dramatically, and leveraging Geocann’s VESIorb technology allows us to become a dominant global cannabis brand where we can improve the lives of millions of consumers in the U.S. and key international markets.”
The companies’ edibles expansion to Asia comes in the wake of Thailand legalizing cannabis in June.
“Sunderstorm has pioneered the fast-acting edibles market in the U.S. and has championed VESIorb technology-based cannabis formulations to deliver superior Kanha products that have gained a loyal customer following,” said Geocann Founder and CEO Jesse Lopez. “We are committed to their continued success and prepared to support their international expansion as we remain focused on novel cannabis research and innovative product development that provides valuable brand differentiation for our partners around the world.”
]]>New York Gov. Kathy Hochul signed legislation Dec. 13 to expand the market opportunities for industrial hemp in the state.
Senate Bill 8496, which is sponsored by Democratic Sen. Michelle Hinchey, calls for the Commissioner of Agriculture and Markets to work with the Urban Development Corp., the New York state Hemp Workgroup and industry representatives to develop a plan to create market opportunities for industrial hemp to be used in food, fiber, packaging, construction, cannabinoid content, and more, according to the bill text.
“The market for New York industrial hemp is still developing, and the state needs to take an active role in researching, identifying, and promoting hemp to industries that may incorporate it into their products,” according to the justification section of the bill.
“For example, as the market for sustainable, biodegradable, non-petroleum-based packaging grows, so do the opportunities for New York produced industrial hemp as an ingredient in these products,” the bill read.
Hinchey said in a press release that hemp is the “material of the future,” adding that increasing industrial hemp production in New York can help fight the climate crisis, unlock new revenue opportunities for farmers, and fund rural communities.
“I’m proud that my hemp bill has been signed into law, directing our state to seek strategic collaborations to help us usher in a new era of manufacturing power, product creation, and rural economic development around an industry that is nearly untapped around the world,” Hinchey said.
]]>A consortium led by Tennessee State University has received nearly $5 million in grant funding for sustainable hemp fiber research.
The federal agency awarded $4,972,900 to the “Climate-Smart Fiber Hemp: A Versatile Thread Connecting the Nation’s Underserved Farmers, Climate Change Mitigation and Novel Market Opportunities,” research project led by Tennessee State University.
The project is designed to increase industrial hemp production as a climate-smart commodity, “evaluate its greenhouse gas benefits and promote the value of market development to a cross-section of production agriculture, including small, medium, and underserved producers across the state of Tennessee,” according to the project proposal.
Leaders of the project plan to recruit underserved producers and farmers who reside in Tennessee’s nine most economically distressed counties and 30 counties in the state at risk of becoming economically deprived, according to the proposal.
“We are proud to partner with Tennessee State University to realize the full potential for hemp in the state of Tennessee, with both this grant proposal and the feasibility study we announced earlier this year,” said Frederick Cawthon, president of the Hemp Alliance of Tennessee, officer and vice president for Minority Empowerment of the U.S. Hemp Roundtable (USHR). “It is heartening that the USDA is making sure that the historically disadvantaged have a seat at the table and an opportunity to benefit from the industry’s potential, all while promoting climate-smart agricultural practices.”
The United States Department of Agriculture (USDA) granted the funds as part of its Partnerships for Climate-Smart Commodities program, which is designed to “finance pilot projects that create market opportunities for U.S. agricultural and forestry products that use climate-smart practices and include innovative, cost-effective ways to measure and verify greenhouse gas benefits,” Cannabis Business Times previously reported.
NORWOOD, Mass., Dec. 14, 2022 – PRESS RELEASE – MariMed Inc., a leading multistate cannabis operator focused on improving lives every day, announced its board of directors appointed Jon Levine, MariMed’s president, as interim CEO.
“With a heavy heart on the news of Robert Fireman’s passing, appointing Jon Levine as interim CEO was an easy decision,” said Edward Gildea, one of MariMed’s independent directors. “As president, Jon has managed the day-to-day facets of MariMed’s operations and, as co-founder of MariMed, has the experience and knowledge of the company’s innerworkings and growth strategy that are crucial at this juncture.”
The board will conduct a process to identify a permanent CEO for MariMed, which may include external and internal candidates. The company will announce an update on the process upon completion. No timing was provided for the duration of the process.
]]>The bottom has yet to arrive for flower prices in Michigan’s adult-use cannabis retail market, while consumer demand has yet to hit its peak.
The average retail price for an ounce of adult-use flower hit another all-time low at $95.12 per ounce in November, according to data from the state’s Cannabis Regulatory Agency (CRA). That’s a 50% decrease from the average retail price of $191 last November.
Two years ago, in November 2020, licensed adult-use dispensaries were commanding $376 per ounce on average, per CRA.
Despite the falling flower prices, adult-use licensees have continued to record monster hauls in recent months thanks to increasing demand. Michigan retailers sold nearly $190 million in adult-use cannabis products in November 2022—just shy of September’s all-time high of $195 million in sales.
Overall, adult-use shoppers purchased a record 59,752 pounds of cannabis flower last month in Michigan, representing a 219% increase from November 2021.
Flower sales represented roughly 48% of the adult-use market last month, while vape cartridges (20%), concentrates (12%), infused edibles (11%) and shake/trim (8%) represented the other major product types contributing to the overall sales figure.
FLORIDA – Dec. 12, 2022 – PRESS RELEASE – Sunnyside, the national cannabis dispensary brand operated by multistate cannabis operator Cresco Labs, today announced the launch of Sunnyside Rewards, a new loyalty program available now on Sunnyside.shop for medical patients in Florida.
The Los Angeles Department of Cannabis Regulation (DCR) conducted its lottery for cannabis retail applicants Dec. 8, selecting 100 social equity applicants to advance in the cannabis dispensary licensing process.
The move comes after a court ruling last week allowed the licensing process to proceed.
The lottery included a process that allowed individuals to request verification as a Social Equity Individual Applicant (SEIA). More than 1,000 individuals requested SEIA verification and more than 500 SEIAs met the criteria to participate in last week’s lottery.
The list of individuals selected in the lottery can be found here.
The DCR plans to conduct another SEIA verification process and another lottery in early 2023.
A bipartisan group of lawmakers in New Hampshire’s House of Representatives has announced plans to introduce an adult-use cannabis legalization bill.
“The House has long stood united in finding a pathway to getting this done for Granite Staters,” House Majority Leader Jason Osborne told NHPR. “With any luck, the Senate will come around to supporting the will of the vast majority of New Hampshire citizens.”
Although the legislation has not yet been formally introduced, it already has the support of the American Civil Liberties Union and Americans for Prosperity, the news outlet reported.
The proposal would allow adults 21 and older to possess or gift up to 4 ounces of cannabis, and it would ultimately set up a commercial adult-use market with state-licensed dispensaries, according to NHPR. The legislation will also include home grow provisions that allow adults 21 and older to grow up to six plants—including three mature plants.
The bill would also levy an 8.5% sales tax on retail cannabis sales, NHPR reported, and the tax revenue generated would be directed to state pensions and substance abuse prevention programs. A portion of the revenue would also be earmarked for law enforcement and municipalities that host dispensaries.
The United States Department of Agriculture (USDA) announced it is extending its deadline for hemp to be tested at laboratories certified by the Drug Enforcement Administration (DEA) until Dec. 31, 2023—nearly an entire year later than its initial deadline, Jan. 1, 2023.
The USDA announced it is delaying the testing deadline due to an “inadequate” number of DEA-registered testing facilities.
“We are delaying enforcement of these requirements based on input received from State and Tribal governments and third-party cannabis testing facilities who have experienced delays in completing the DEA laboratory registration process,” the USDA wrote in its announcement.
The USDA added it is also concerned that there will not be enough hemp testing laboratories for the 2023 growing season, “which will hinder the growth of a domestic hemp market at this nascent stage. Laboratories testing hemp must comply with all other regulatory requirements.”
Following the passage of the Agricultural Improvement Act of 2018 (the 2018 Farm Bill), which legalized hemp at the federal level, the USDA released an Interim Final Rule (IFR) in October 2019 to address issues arising under the farm bill. The IFR, among other things, clarified that all hemp testing laboratories must be registered with the DEA.
RELATED: Industry Professionals Urge Congress to Regulate CBD and Hemp-Derived Compounds in 2023 Farm Bill
In 2020, the federal agency announced it was extending some requirements outlined in the IFR, including the rule for labs to be registered by the DEA, Cannabis Business Times reported.
LAS VEGAS (Dec. 13, 2022) – PRESS RELEASE – Global Harmony LLC, the parent company of Top Notch The Health Center (Top Notch THC), was recently awarded a retail cannabis consumption lounge license by the Nevada Cannabis Compliance Board. Founded in 2014, Global Harmony LLC has a cannabis cultivation license and currently operates a cannabis retail dispensary in Las Vegas that serves both medical patients and recreational customers.
“We are thrilled for this opportunity to serve the community in a new way as we evolve to include a consumption operation,” said Kema Ogden, partner of Global Harmony LLC and co-owner of Top Notch THC. “Everyone age 21 and older will be welcome to visit our consumption lounge as it’s going to be a warm and inviting place where locals and visitors might start out as guests but will quickly become friends.”
RELATED: UPDATED: Lotteries on Deck for Nevada’s Cannabis Consumption Lounges
The current dispensary operation has already made a strong connection with the local community in a busy marketplace filled with giant competitors.
“We look forward to creating a unique experience for locals and visitors to safely consume legal cannabis in Las Vegas,” said John Heishman, partner of Global Harmony LLC and CEO of Top Notch THC. “It’s been our honor and great pleasure to serve the community as our knowledgeable team will continue to provide the best customer experience around as we expand our operations in the coming months.”
Louisiana’s patients were able to temporarily access medical cannabis through telemedicine appointments during the COVID-19 pandemic, and now a lawmaker is urging the state’s attorney general to make this change permanent.
State Rep. Joseph Marino, I-Gretna, wrote a letter to Attorney General Jeff Landry, saying that the Louisiana Medical Marijuana Commission, on which Marino serves as a member, met in September to review state law regarding medical cannabis prescriptions, according to a local WDSU report.
New Orleans-based Dr. Vincent Culotta said that based on the way the law is written, an in-person visit is required for doctors to prescribe controlled substances to patients, and Culotta interprets this to also apply to medical cannabis, the news outlet reported. The commission then tried to pass an emergency rule to exempt medical cannabis from the rule requiring in-person doctor visits, but it was ultimately rejected, according to WDSU.
Now, Marino is calling on Landry to issue an opinion on the law. He said in his letter that not allowing patients to access medical cannabis through telemedicine appointments might have a “chilling effect” on Louisiana’s program, WDSU reported.
Recent tweaks to the state’s medical cannabis laws took effect Aug. 1, including a change that transferred oversight of Louisiana’s medical cannabis program from the Department of Agriculture and Forestry to the Department of Health.
BOCA RATON, Florida., Dec. 13, 2022 - PRESS RELEASE - Jushi Holdings, a vertically integrated, multi-state cannabis operator, announced the launch of a comprehensive product suite in California that includes three brands crafted to meet cannabis consumers’ preferences and price points. With the addition of Sèchè Pre-Roll Singles, Tasteology Fruit Chews and The Lab Vapes, the company brings a new selection of high-quality brands and proprietary products exclusively available at the company’s Beyond Hello retail locations in the Golden State.
“As California is one of the most competitive and mature cannabis markets in the world, California cannabis consumers have some of the most discerning tastes,” said Jim Cacioppo, Jushi founder, chairman and CEO. “They want high-quality products at a range of price points that deliver a premium consumer experience. Our diverse house of brands has been carefully crafted to meet the needs of the canna-curious and the canna-connoisseurs alike. As we expand Jushi’s branded product portfolio in key markets across the country, we look forward to exceeding consumers expectations by offering new, innovative brands and products through our digital and retail store footprint.”
Sèchè Pre-Roll Singles: Sèchè boldly invents a new category in cannabis by redefining the perception of value products like shake, popcorn, and pre-rolls. With a carefree spirit and the curiosity to uncover what’s next, Sèchè Pre-Roll Singles are packaged in environmentally sustainable ocean-bound plastic tubes and come in seven popular varieties. The new pre-roll 1g singles are now exclusively available for purchase at Beyond Hello Santa Barbara, Beyond Hello Grover Beach, and Beyond Hello Palm Springs for $9 each or five for $35.
Tasteology Fruit Chews: Jushi’s Tasteology Fruit Chews are vegan, gluten-free and available in four new varieties, including Sour Watermelon Waves, Strawberry Spirit, Blue Raspberry Bliss, and Peachy Dreams. All natural, and containing no colorings, preservatives or artificial flavors, each package of Tasteology Fruit Chews includes 10 individual chews, each infused with 10mg of THC and other minor cannabinoids. Tasteology Fruit Chews are available exclusively at Beyond Hello California retail locations for $12 each or three for $30.
The Lab Vapes: Crafted using cutting-edge technology and equipment, The Lab’s new product line includes a 1g live resin vape cart, a 1g cured vape cart and a 1g cured rechargeable all-in-one vape pen in popular varieties. The Lab vapes are exclusively available at Beyond Hello California retail locations, bringing the unique experience of vapes to new and modern mediums.
]]>CALGARY, Alberta, Dec. 13, 2022 - PRESS RELEASE - High Tide Inc., retail-focused cannabis company with bricks-and-mortar as well as global e-commerce assets, announced that it has begun selling cannabis seeds in the United States, initially through its wholly owned subsidiaries Grasscity and Smoke Cartel, which are e-commerce platforms for consumption accessories. The company plans to expand seed sales to additional online retail platforms within its portfolio in 2023. This launch comes on the heels of the American Drug Enforcement Agency's recent official determination that cannabis seeds fall under the legal definition of hemp and can therefore be sold openly in the United States.
"With our entry into this new and exciting complementary vertical, we continue to extend and strengthen our integrated value chain, providing our customers with a complete cannabis experience, in addition to the opportunity to further enhance our consolidated gross margin profile. This new business venture will greatly expand our U.S. customer base, which already sits at 2.4 million through our ancillary cannabis business lines, and sets us up well to take advantage of federal legalization in the United States when it comes. This further diversification into the U.S. seeds market also strengthens our Canadian discount club model, as this new vertical is expected to generate significantly higher gross margins than our core brick-and mortar-business, which will help us continue to offer unbeatable prices to our Cabana Club members," said Raj Grover, High Tide president and CEO.
"GrassCity and Smoke Cartel, due to their top SEO rankings, organically built over the last twenty-two and eight years, respectively, generate some of the highest online traffic in the consumption accessories space, which is why it makes sense for us to leverage this strength as we launch this new vertical in the United States," Grover said. "Innovation has always been a cornerstone of High Tide's strategy, and today's announcement is yet another example of how we will never stop looking for ways to enhance shareholder value while differentiating ourselves from the competition."
]]>Health Canada has finalized amendments to the Cannabis Act that increase possession limits for cannabis beverages, as well as ease research and testing requirements.
The amendments took effect Dec. 2, according to Health Canada’s Dec. 9 announcement.
A copy of the final regulations, as well as the Regulatory Impact and Analysis Statement, will be published in the Canada Gazette, Part II, on Dec. 21.
The amendments incorporate feedback from cannabis industry stakeholders, universities, researchers, health authorities, trade associations, licensees, provinces, territories and the public, according to the announcement.
The new regulations increase the public possession limit for cannabis beverages to align with other cannabis products, allowing adults to possess up to 17.1 liters (equal to 48 355-millileter cans) for non-medical purposes.
Green Thumb Industries announced Dec. 13 that the cannabis company will appoint Dawn Wilson Barnes to its board of directors and make four executive leadership position promotions effective on Jan. 1, 2023.
Barnes, the founder and president of Atlanta-based financial services firm Aurora Bay Capital, will join GTI’s board as an independent director and member of the company’s Audit Committee. The announcement comes after three former board members—William Gruver, Glen Senk and Dorri McWhorter—resigned in October over a disagreement as to the company’s policies and practices related to personal misconduct.
RELATED: Green Thumb Industries Announces Changes to Board of Directors
When GTI announced those resignations, the Chicago-based multistate operator also announced Richard Drexler and Jeff Goldman would be joining the board at that time. Now, Barnes is lined up to fill the third vacancy left by those who resigned.
In addition, GTI executive leadership team promotions include board member Anthony Georgiadis to president, Matt Faulkner to chief financial officer (CFO), Bret Kravitz to general counsel and secretary, and Rachel Albert to chief administrative officer.
“These changes reflect the natural evolution of high-performing team members to positions of greater responsibility and demonstrate our conviction in the strength of our leadership,” Green Thumb founder, chairman and CEO Ben Kovler said in a press release.
PRESS RELEASE - Helius Therapeutics will soon launch THC-containing medicines which are both grown and made in New Zealand.
This follows the country’s largest licensed medicinal cannabis company being issued a GMP (Good Manufacturing Practice) certificate by MedSafe to allow it to manufacture THC medicines.
“2022 has been a huge year for Helius. Reaching these milestones which allow us to bring more NZ grown and made products to Kiwi patients,” says Carmen Doran, chief executive officer of Helius Therapeutics.
“Last week we were able to announce GACP certification. Now we have obtained GMP certification for four more processes at our expansive East Auckland site. Such progress is testament to the culture of teamwork Helius is building,” she says.
Helius first gained the GMP certification and a Licence to Manufacture Medicines in July 2021. Since that time, they have been the first company in NZ to launch products, and provide NZ made, NZ grown products. Now they are the first in New Zealand to gain GMP certification for THC medicines.
NORWOOD, Mass., Dec. 12, 2022 (GLOBE NEWSWIRE) -- PRESS RELEASE -- MariMed, Inc., a multi-state cannabis operator focused on improving lives every day, today announced with deep sadness that Chairman, Chief Executive Officer, and co-founder Robert Fireman died unexpectedly on Dec. 11, 2022.
The company will provide further information on succession once the Board of Directors has had an opportunity to determine the best path forward.
"Bob Fireman worked tirelessly and passionately until his last day as Chairman and CEO of MariMed to fulfill our mission of improving people’s lives, much as he did as a philanthropist who cared so deeply about the people and community around him,” said Jon Levine, president of MariMed. “He was my business partner and dear friend, and I look forward to honoring his legacy by achieving our shared vision for the company. He was one-of-a-kind and will be deeply missed by his family, his wide circle of friends, the cannabis community that he helped build, and the entire MariMed family.”
Fireman served as CEO of MariMed since 2017 and a member of its Board of Directors since the company’s formation. An early pioneer and visionary in the industry, under his leadership the MariMed team applied for and was awarded legal cannabis licenses in several states across the United States and developed and operated state of the art, regulatory compliant cannabis cultivation, production, and retail facilities.
A practicing attorney for over 30 years, Fireman’s legal acumen and entrepreneurial experience in diverse industries served were instrumental in navigating MariMed through the complex, highly-regulated, emerging cannabis industry.
Florida-based multistate cannabis operator Trulieve laid off some of its employees in Gadsden County earlier this month, resulting in a class action lawsuit from affected workers who claim the company did not give adequate notice before dismissing them.
Trulieve, which operates in Gadsden County by way of two cultivation sites in Quincy and a processing facility in Midway, has not disclosed the number of employees who were laid off, but said the move was meant to decrease “redundancies” amid the company’s continued growth, according to the Tallahassee Democrat.
Steve Vancore, a spokesman for Trulieve, told the news outlet that affected employees were offered alternate jobs at the company’s other facilities in Jefferson and Madison counties, and that those who did not end up in other positions were given severance packages.
Vancore also told the Tallahassee Democrat that the layoffs ultimately stemmed from Trulieve’s acquisition of Arizona-based Harvest Health and Recreation.
“We merged and acquired Harvest a year ago,” Vancore told the news outlet. “This has been part of our merge while we’re continuing to grow where we have redundancies and inefficiency. When you have 9,000 employees, this was really an efficiency move.”
