MjLink Cannabis Business News and Press
APOPKA, Florida, Nov. 16, 2022 - PRESS RELEASE - Building off the momentum from opening its first Jacksonville dispensary in mid-October, Sanctuary Medicinals is pleased to announce the opening of its second Jacksonville location in the Murray Hill neighborhood. Continuing the company's push northward as the second Sanctuary dispensary in Duval County, the opening brings the statewide total to 15 locations.
Located on Edgewood Ave S between I-10 and Highway 17, the second Sanctuary Jacksonville location will host its grand opening celebration on Nov. 16. The location will be keeping its usual hours of operation from 9 a.m. to 8 p.m. All registered and first-time patients will be eligible for a 50% discount, and Sanctuary will provide food and entertainment at various points throughout the day.
"Sanctuary is excited about our rapid growth plans across the state of Florida," said Jason Sidman, CEO of Sanctuary Medicinals. "We are looking forward to expanding into new areas and helping as many patients as we can in the near future."
Sanctuary Jacksonville - Edgewood sits just to the west of the St. Johns River and in the center of Murray Hill. As the number of certified medical cardholders continues to rise steadily, so too do Sanctuary's menu offerings, headlined by crafted concentrates and live-cured strains of flower.
"We are excited to be shifting expansion into different areas of the state while our product offerings continue to grow," said Bill Dewar, Sanctuary Medicinals chief operating officer. "Duval County is a vibrant, large community, and we're eager to continue getting to know the area's patients and, in turn, introduce them to our outstanding range of medical cannabis offerings."
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During witness testimony during a U.S. House hearing Nov. 15, cannabis advocates shared that a wide majority of Americans support cannabis legalization of some form.
Of U.S. adults, 60% support medical and recreational use, while 31% support medical use only and 8% believe cannabis should not be legal, according to a 2021 Pew Research Center survey. And a Gallup Poll conducted in October and released Nov. 15 shows 68% of Americans favor legalization.
These are statistics that wide swaths of the U.S. Congress have flouted when it comes to reforming cannabis laws so patients, consumers and industry members can move past a storied history of criminalization, incarceration, discrimination, banking and employment issues and more.
The U.S. House Committee on Oversight and Reform’s Subcommittee on Civil Rights and Civil Liberties held the hearing Nov. 15 titled, “Developments in State Cannabis Laws and Bipartisan Cannabis Reforms at the Federal Level.”
Witness testimonies came from Amber Littlejohn, senior policy adviser for the Global Alliance for Cannabis Commerce (GACC); Randall Woodfin, mayor of Birmingham, Ala.; Paul Armentano, deputy director of the National Organization for the Reform of Marijuana Laws (NORML); Andrew Freedman, executive director of the Coalition for Cannabis Policy, Education, and Regulation (CPEAR); Eric Goepel, founder and CEO of the Veterans Cannabis Coalition; Keeda Haynes, senior legal adviser at Free Hearts; and Jillian Snider, policy director of criminal justice and civil liberties at the R Street Institute.
Following the passage of Amendment 3 in Missouri, which legalized adult-use cannabis in the state, one university is already adding specialized programs in cannabis.
The university is offering four six-month non-credit programs at $2,950 each: Cannabis Healthcare and Medicine; Compliance & Risk Management; The Business of Cannabis; and Cannabis Agriculture and Horticulture. Students will receive a certificate upon course completion.
Jay Johnson, Northwest associate provost, told KQTV 2 that the goal of the programs is to educate students about the industry, support cannabis career pathways and meet industry needs.
“If this is going to be legal—and now it’s going to be legal recreationally—we really need to have people out there that are serious about the profession,” Johnson said. “I was a little hesitant that Northwest would want to do something like this, just because it is such a new thing, and in a field that’s, you know, been illegal for years.”
According to the news outlet, the university is also partnering with cannabis training platform Green Flower.
“Having that opportunity for people in Missouri to go to Northwest Missouri State and take a program that’s really going to prepare them for a career is really perfect timing and a perfect complement to what’s happening,” said Daniel Kalef, Green Flower vice president of higher education.
]]>PRESS RELEASE -- With its regenerative farm in California and licensing deals in Oklahoma, Massachusetts and now Michigan, Stone Road plans to continue its expansion into other legal markets.
Stone Road, a California-based line of premium, sustainably-grown cannabis products, has announced a partnership with Gamut Cannabis to bring Stone Road’s line of products to Michigan in early 2023. This marks the rapidly-growing brand’s fourth market launch, as it continues to expand into legal states across the U.S.
RELATED: How Stone Road Farms’ Lex Corwin and Blake Kelley Work: Cannabis Workspace
A California favorite, Stone Road was founded by NYC native, Lex Corwin, in 2016 at the age of 23 and is a queer-led, family run cannabis brand that is focused on harvesting and distributing the highest quality yet affordable cannabis products. The brand is known for offering its customers access to a lifestyle inspired by the organic farming practices and natural beauty of its California-based farm. Michigan-based Gamut Cannabis works with established brands from California and Colorado as the go-to supply-chain partner for the rapidly expanding Michigan market.
"As we continue to expand Stone Road across the U.S we seek out partners who share in our belief of quality over everything. Brian, RJ, and the rest of the Gamut team share in our commitment to high-quality and affordable products and we can't wait to bring our 100% natural products to consumers all across Michigan,” said Stone Road founder and CEO Lex Corwin.
Stone Road, an established and avant-garde cannabis brand that is currently in three other legal markets, grows small-batch, craft flower using the most sustainable cultivation methods possible. Utilizing only solar power and regenerative water practices at its Northern California farm, the brand has partnered with other family-owned cultivators who adhere to the same stringent sustainability practices to bring Stone Road prerolls to the Michigan market.
Arkansas is on track to set a new medical cannabis sales record this year.
The state’s dispensaries sold $23.4 million worth of products in October, according to a local KARK report, which also noted that October’s sales numbers lagged behind September’s $23.9 million in sales but fell in line with the state’s usual $23 million-plus in monthly sales.
RELATED: Arkansas Medical Cannabis Sales Hit $200 Million This Year
Arkansas has 90,148 patients enrolled in its medical cannabis program, KARK reported. Patients purchased 4,558 pounds of medical cannabis last month, according to the news outlet.
“Through the first ten months of 2022, patients have spent $228.4 million to obtain 41,188 pounds of medical marijuana,” Scott Hardin, a spokesperson for the Arkansas Department of Finance and Administration, told KARK. “State tax collection on medical marijuana was $2.77 million in October, bringing the total for the year to $26.75 million. Since the state’s medical marijuana industry launched in 2019, the largest year for sales was 2021 at $264.9 million. Sales for 2022 should ultimately reach $275 million if sales remain consistent in November and December."
Kentucky Gov. Andy Beshear is expected to provide an update on medical cannabis at 1 p.m. CT Nov. 15 at the Kentucky State Capitol.
Justice and Public Safety Cabinet Secretary Kerry Harvey, Public Protection Cabinet Secretary Ray Perry, addiction specialist Linda McClain, Ph.D., and veteran and advocate Jared Bonvell will join Beshear for the announcement, WPSD reported.
Medical cannabis is not legal in Kentucky but has received broad support from the public and Beshear.
In September, Beshear released feedback from the state’s Medical Cannabis Advisory Committee after the group traveled the state to gather Kentuckians’ views on medical cannabis legalization. The polling showed Kentuckians overwhelmingly support the issue, with 90% in favor, Cannabis Business Times reported.
Moreover, in March, the Kentucky House approved legislation to legalize medical cannabis by a 59-34 vote, but the measure stalled in the Senate for the third year.
Beshear also signed legislation in April to allow the University of Kentucky to have a cannabis research center.
]]>Following the announcement of a Nov. 15 U.S. Congressional hearing titled “Developments in State Cannabis Laws and Bipartisan Cannabis Reforms at the Federal Level,” a U.S. House subcommittee has issued a joint memorandum on cannabis.
The memo, from the U.S. House Committee on Oversight and Reform’s Subcommittee on Civil Rights and Civil Liberties, proposes decriminalization, various policy reforms, and the removal of cannabis from the Controlled Substances Act.
Positions on Decriminalization
The report states there are multiple benefits to federal cannabis decriminalization.
Drawing from the American Civil Liberties Union’s 2020 report, “A Tale of Two Countries: Racially Targeted Arrests in the Era of Marijuana Reform,” the memo states that Black people are nearly four times more likely to be arrested for cannabis possession than white people, despite similar consumption rates between Black and white people.
“In many states, marijuana arrests can have life-altering consequences—parents may lose their children in court proceedings, disabled and low-income recipients of public assistance may lose healthcare, immigrants can face deportation, families can be evicted from public housing, and finding a job can be difficult or outright impossible in some cases. Black and Brown people disproportionately face these repercussions,” the memo shares.
CHICAGO, Nov. 14, 2022 – PRESS RELEASE – Verano Holdings Corp., a leading multistate cannabis company, announced its financial results for the third quarter ended Sept. 30, 2022 (Q3 2022), which were prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP). Comparable numbers for the third quarter ended Sept. 30, 2021, were also prepared in accordance with U.S. GAAP.
2022 Third Quarter Financial Highlights
Q3 2022 revenue increased 2% versus the prior quarter and 10% year-over-year to $228 million.Revenue growth versus the year-ago period was driven by strength from adult-use sales in New Jersey.Q3 2022 gross profit was $123 million or 54% of revenue, compared to $98 million or 44% of revenue in the prior quarter, and $98 million or 48% of revenue in the third quarter 2021.Gross profit growth versus the year-ago period was driven by top-line growth and a lower comparative impact related to the inventory step-up from acquisitions.Q3 2022 SG&A was $86 million or 38% of revenue, compared to $100 million or 45% of revenue in the prior quarter, and $76 million or 37% of revenue in the third quarter 2021.SG&A growth versus the year-ago period was primarily driven by an increase in retail locations.Q3 2022 net loss was $(43) million, compared to a loss of $(10) million in the prior quarter, and $(13) million in the year-ago period.Adjusted EBITDA was $82 million or 36% of revenue, compared to Adjusted EBITDA of $76 million or 34% of revenue in the prior quarter.Cash flow from operations for the nine months ended Sept. 30, 2022, was $65 million.2022 Third Quarter Operational Highlights
Furthered Florida retail expansion by opening 11 new MÜV dispensaries across the state throughout the quarter.Opened new Zen Leaf dispensaries in Wheeling and Clarksburg, W.Va., and New Kensington, Pa.; relocated Zen Leaf Jessup to Elkridge in Maryland to optimized location and retail space; maximized New Jersey footprint with the commencement of adult-use sales at Zen Leaf Neptune on the Jersey Shore.Launched Verano signature flower branded products in four new core markets—Arizona, Florida, Massachusetts and Pennsylvania; Verano signature flower branded products are now distributed to more than 500 dispensaries across nine states, including more than 100 of the company’s retail locations.Introduced Savvy, a new flower and extract brand featuring larger-format cannabis products that caters to more value-oriented patients and consumers, across seven core markets.Inked licensing agreement with Mike Tyson's Tyson 2.0 cannabis company to launch legendary wrestler Ric Flair's new cannabis line, Ric Flair Drip Cannabis, across 11 markets.Welcomed Lawrence Hirsh as a new member of the board of directors and chair of the Audit Committee.Completed acquisition of Sierra Well, bolstering Nevada footprint with addition of two operating dispensaries and an active cultivation facility.Initiated second annual Breast Cancer Awareness Month donation effort benefiting the Lynn Sage Breast Cancer Foundation.Subsequent Operational Highlights
Refinanced $350-million credit facility with enhanced flexibility to reduce capital costs.Opened two new MÜV dispensary locations in Panama City Beach and Port Orange, Florida, raising the company's Florida retail footprint to 61 locations.Launched BITS, a new brand and product line consisting of five unique flavors of low-dose, high-function edibles that blend THC, cannabinoids and adaptogens, appealing to cannabis enthusiasts of all experience levels.Active operations span 13 states, comprised of 119 dispensaries and 14 cultivation and processing facilities with more than 1 million square feet of cultivation capacity.Management Commentary
“I am very pleased with our performance in the third quarter and how our team demonstrated focus and adaptability in driving our business forward in an increasingly challenging environment,” Verano founder, Chairman and CEO George Archos said. “In the face of economic headwinds, industry dynamics and legislative uncertainty, we delivered revenue growth and strong Adjusted EBITDA margins, underscoring our focus on superior operations and efficiency. We significantly bolstered our growing product portfolio by scaling our signature Verano brand across core markets, introducing our value flower and extract brand Savvy, launching Ric Flair’s Ric Flair Drip Cannabis line in partnership with Tyson 2.0, and most recently, releasing a low-dose, high-function edibles line, BITS, which combine tailored adaptogens with cannabinoids and 5 mg of THC to appeal to a broad base of cannabis consumers. We also continue to see positive results in New Jersey, where we’ve further cemented our position as a market leader, evidenced by our strong retail performance and growing wholesale business. Finally, we are also pleased to have completed the refinancing of our $350 million credit facility, which gives us flexibility in our capital structure and the ability to reduce our cost of capital. I remain optimistic and confident in our business as we continue to maintain focus on driving operational quality and efficiency as we further position Verano for future growth.”
Pennsylvania State Attorney General Josh Shapiro (D) declared victory in the Pennsylvania gubernatiorial race Nov. 8, defeating State Senator Doug Mastriano (R), 56.3% to 41.9%, according to The Associated Press.
Shapiro has been outspoken about his support for adult-use cannabis legalization and righting the wrongs caused by unjust policies and the war on drugs. In March, he tweeted, “We can cut costs, legalize recreational marijuana, and raise the minimum wage in Pennsylvania. We just have to win in November.”
Now that Shapiro has won the 2022 gubernatorial race, what does this mean for the state’s cannabis industry?
RELATED: Where Candidates Stand on Cannabis in All 36 Gubernatorial Races
Former Pennsylvania Gov. Tom Wolf legalized cannabis for medical use in 2016 and has also been a longtime supporter of legalizing cannabis for adult-use, as well. He included adult-use legalization in his 2021 state budget proposal; however, the issue has failed to gain support from the General Assembly, Cannabis Business Times reported.
CBT spoke with Trent Woloveck, chief commercial director of Jushi Holdings, a multistate vertically integrated cannabis company with 18 retail locations in Pennsylvania, to discuss what Shapiro’s election means for the state’s cannabis industry and how Shapiro’s administration could help progress the industry.
The Missouri Department of Health and Senior Services (DHSS) published the first draft of program rules Nov. 10 for the state’s forthcoming adult-use cannabis industry—less than 48 hours after voters approved Amendment 3.
RELATED: Missouri Voters Say ‘Yes’ to Adult-Use Cannabis Legalization
Upon adoption, the constitutional amendment directs DHSS officials to regulate and oversee Missouri’s adult-use cannabis market, including the licensing of cultivators, manufacturers, dispensaries and microbusiness facilities. Department officials will also promulgate regulations for testing, packaging and labeling, among other oversight functions.
The department has had the same regulatory authority over the state’s medical cannabis program since its adoption in 2018. The parallel programs are now being managed within the department’s Division of Cannabis Regulation.
On Dec. 8 (the effective date of the adult-use provisions under Amendment 3), the Division of Cannabis Regulation will begin accepting requests from existing medical cannabis facility licensees to convert to a “comprehensive” facility—to serve both markets.
“Because the department has 60 days from receipt to review and approve those requests, adult-use product should be available as early as February 2023,” a DHSS news release states. Conversion requests not processed within 60 days will be deemed approved, per Amendment 3’s text.
Wisconsin Gov. Tony Evers will again try to legalize cannabis through his state budget proposal.
“We will have a budget that includes legalizing marijuana,” the Democratic governor told reporters Nov. 9, according to a local WISN report.
Previous attempts at legalization—including Evers’ earlier plans to legalize medical and adult-use cannabis through his his budget proposal and bills that would have legalized medical and adult-use cannabis—have been blocked by Wisconsin’s Republican-led Legislature.
Voters in Milwaukee, Dane and Eau Claire counties, as well as those in the cities of Kenosha, Racine, Appleton, Stevens Point and Superior, supported legalizing and taxing cannabis in advisory referenda last week, according to WSIN.
WAKEFIELD, Mass., Nov. 14, 2022 /PRNewswire/ -- PRESS RELEASE -- Curaleaf Holdings, Inc., an international provider of consumer cannabis products, today announced the national rebrand of its Grassroots premium cannabis flower brand, and shared details on the brand's previously announced expansion into California with the launch of Diamond Infused Pre-Rolls.
The rebrand of Grassroots coincides with the launch of its Grower's Reserve program, an ongoing series of limited-edition collaborations with craft farmers and diverse operators in California. The program reaffirms the company's commitment to providing high-quality products to its consumers while empowering smaller craft operators in the Golden State.
For seasoned cannabis consumers that are looking for an added boost to their everyday pre-roll, Grassroots Diamond Infused Pre-Rolls are composed of finely ground, high-quality whole flower with a dusting of THCA "diamonds" for maximum purity and potency. Available as 1 gram Singles or 5 pack Shorties at 0.4 grams each, Grassroots Diamond Infused Pre-Rolls are now available in California featuring three unique strains:
Grower's Reserve – Napali Sunrise (Sativa) by Delighted Farms, a state-of-the-art indoor farm managed by a team of renown California growers.Grower's Reserve – Cherry Cheesecake (Indica) by Sonoma Hills Farm, a Sun+Earth certified cannabis farm nestled on 60-acres in Sonoma Valley.Mimosa by Grassroots (Hybrid)"We are thrilled to introduce the new look and feel of Grassroots, a brand that exemplifies our unwavering commitment to providing high-quality cannabis products and experiences," said Matt Darin, CEO of Curaleaf. "I am also personally proud to launch our Grassroots Grower's Reserve program, which I think demonstrates our commitment to creating an equitable cannabis industry where operators of all sizes and backgrounds work together to strengthen the industry and deliver premium experiences for consumers."
Founded in 2014, the Grassroots brand is dedicated to providing the highest quality cannabis products while serving, advancing and respecting the cannabis movement. The brand first planted its roots in Chicago with the goal of perfecting the art and science of cannabis cultivation through the creation of exclusive genetics and unique strains. Grassroots was acquired by Curaleaf in 2020 and its products are now available in seven states including California, Illinois, Massachusetts, Maryland, Nevada, North Dakota and Pennsylvania.
Grassroots' new branding has rolled out in California and Maryland, and will expand to all seven markets in the coming months. For more information on product availability, visit www.grassrootscannabis.com.
New York is the latest state where litigation involving the dormant commerce clause could hold up the issuance of cannabis licenses.
U.S. District Court Judge Gary Sharpe issued a preliminary injunction Nov. 10 that temporarily blocks officials from distributing adult-use cannabis retail licenses in five of the state’s 14 regions—Brooklyn, Central New York, Finger Lakes, Mid-Hudson and Western New York—under the conditional adult-use retail dispensary (CAURD) program.
The injunction affects up to 63 of the 150 CAURD licenses that state regulators from the Office of Cannabis Management (OCM) announced in August. And the ruling could potentially impact the commercial sales launch of New York’s forthcoming adult-use cannabis retail market, which Gov. Kathy Hochul and state regulators indicated would begin no later than the end of 2022.
RELATED: New York Governor Says Adult-Use Cannabis Sales ‘Still on Track’ to Launch This Year
Sharpe’s injunction stems from a lawsuit filed by Variscite NY One Inc., which applied for a CAURD license. However, because the Michigan-based company “is [51 percent] owned by an individual who has a cannabis conviction under Michigan law” and “has no significant connection to New York,” Variscite was deemed ineligible to be selected under New York’s CAURD program, according to the litigation.
OCM regulators announced in March that they were setting up a “Seeding Opportunity Initiative” for the CAURD program with the aim to issue New York’s first adult-use dispensary licenses to individuals with cannabis-related convictions (or their relatives).
SAN FRANCISCO, California, Nov. 14, 2022 - PRESS RELEASE - Treez, a enterprise commerce technology platform for the cannabis retail and supply chain industry, announces that the company is offering exclusive advanced access to select cannabis retailers to experience its enhanced Retail Analytics and Integration Hub products. The innovative updates to the Treez platform will be first introduced to the public at MJBiz Conference in Las Vegas, Nov. 16-18 atbooth #9207. As part of the unveiling, Treez will grant select retailers advanced access to the newly updated platform by the end of 2022.
The enhanced platform features of the Integration Hub are designed to meet the demands of growing independent retailers, as well as multi-location and multi-state operators to streamline integrations between their business systems. Treez Integration Hub unlocks access to integrations with best-in-breed technology providers from cannabis and beyond, including enterprise-grade CRMs, business intelligence, communications software, ERPs and supply chain software solutions. Retailers can now expect to leverage systems like Odoo, Salesforce, SAP, NetSuite, as well as bring their own tools all through one integrated platform. By connecting these systems and the data that flows between them, Treez Integration Hub creates time savings and reduces labor hours by removing the need for retail employees to manually input or sync that data themselves.
Rather than just providing a barrage of data for retailers to sift through and analyze, Treez’s new Retail Analytics product focuses on making data more usable and action-oriented natively within the point-of-sale. The tool reduces inventory issues and potential lost sales by empowering real-time decision making with real-time sales and inventory numbers. Treez designed the new data product with all aspects of the cannabis retail business in mind, creating solutions for both managers and employees through more streamlined reports and a gamified sales experience for the budtender. Treez has optimized purchasing and inventory management workflows as well with centralized visibility to products and inventory across the client’s retail footprint, scalable from one store to hundreds.
“We’re raising the bar in terms of what cannabis retailers, whether they are growing independents or larger multi-location multi-state operators, can do with a technology partner, and we’re excited to give a few retailers a sneak peek at what we believe is going to be a game changer for the industry,” said John Yang, CEO of Treez. “These new features and enhancements to our product and platform make data come to life as a workable business tool like never before. We’re helping clients create stakeholders at every level of their business with enhanced features that make sales, reporting and data more user-friendly, while empowering decision-makers with data-driven insights that lead to clearer business strategies. Connecting all of it with best-in-class integrations to software partners both inside and outside of the cannabis industry takes our platform to the next level and our clients’ businesses to new heights.”
Treez is offering Advanced Access as an exclusive first look and test drive for select cannabis retailers looking to get the most from their POS, reporting, inventory and enterprise systems. Retailers interested in the Treez Advanced Access Program should visit the Treez booth #9207 to see a live demo or can visit www.treez.io/early-access to request early access.
The announcement follows the company's recent acquisition of Swifter, a payment solutions platform tailored to meet the unique needs of the cannabis industry. The company also recently announced its expansion into eight new states in 2022, exceeding expansion projections made in February 2022 of entrance into five new markets by the end of the year. The acquisition and expansion support the company’s strategy and mission to develop innovative technology to accelerate the growth of the cannabis industry, following its Series C funding round of $51 million in April 2022.
Minnesota Governor Says Adult-Use Cannabis Legalization Is Priority for Upcoming Legislative Session
Minnesota Gov. Tim Walz is making adult-use cannabis legalization a priority for the state’s upcoming legislative session.
That’s according to former Minnesota Gov. Jesse Ventura, who said during a recent podcast with his son, Tyrel Ventura, that Walz told him legalizing cannabis will be “one of the first things” that state lawmakers will pass next year, according to a CBS Minnesota report.
The former governor also said that Walz invited him to the ceremony when he signs the legalization bill into law, the news outlet reported.
A spokesperson for Walz told CBS Minnesota that the governor and Jesse Ventura “may work together to get something done.”
The Republican-led Minnesota Senate blocked a floor vote on an adult-use cannabis legalization bill earlier this year, but the party lost control of the chamber in the midterm election last week.
On Nov. 15, a U.S. House subcommittee will hold a hearing on state cannabis laws and federal bipartisan cannabis reforms.
The U.S. House Committee on Oversight and Reform’s Subcommittee on Civil Rights and Civil Liberties will hold the hybrid hearing at 10 a.m. ET.
According to the House Oversight Committee website, Reps. Jamie Raskin, D-Md., and Nancy Mace, R-S.C., will hold the hearing to “examine the many benefits of cannabis decriminalization at the federal level, including addressing racial disparities in the criminal justice system, improving treatment options for veterans, and allowing marijuana companies to access traditional banking services.”
Witnesses will include Amber Littlejohn, senior policy adviser for the Global Alliance for Cannabis Commerce (GACC); Randall Woodfin, mayor of Birmingham, Ala.; Paul Armentano, deputy director of the National Organization for the Reform of Marijuana Laws; Andrew Freedman, executive director of the Coalition for Cannabis Policy, Education, and Regulation; Eric Goepel, founder and CEO of the Veterans Cannabis Coalition; Keeda Haynes, senior legal adviser at Free Hearts; and Jillian Snider, policy director of criminal justice and civil liberties at the R Street Institute.
Cannabis Business Times spoke about the upcoming hearing with Randal John Meyer, J.D., executive director of 501(c)6 cannabis trade organization GACC, and Rezwan Khan, J.D., executive chair and president of GACC, and president of DNA Genetics.
GACC lists three main goals on its website: “Legalize and Regulate Cannabis Commerce Globally,” “Incubate a Vibrant and Competitive Industry” and “Ensure Patient and Adult User Access.”
DENVER, Nov. 10, 2022 /CNW/ - (TSX:CWEB, OTCQX:CWBHF) - PRESS RELEASE - Charlotte's Web Holdings, Inc., the market leader in cannabidiol hemp extract wellness products, has announced a new distribution agreement with Stark Foods International, a distributor of European specialty food and beauty products to grocery and retail.
Stark Foods distributes some of the world's top food brands with coast-to-coast U.S. coverage. Using a direct delivery model in the New York Tri-State area and a nationwide direct to retailer or sub-distributor, Stark Foods supplies some of America's largest drug, club, grocery and mass retailers. Additionally, Stark Foods distributes to specialty independent retail and specialty channels which are not generally served by mainstream distributors. In total, Stark Foods reaches nearly 15,000 doors through its multi-broker network.
"Stark is a well-respected distribution partner with particular strength in curated European products, where Charlotte's Web has the opportunity to significantly increase its awareness to new groups of consumers," said Jacques Tortoroli, CEO of Charlotte's Web. "Initial distribution will focus on making further in-roads to the high value New York Tri-State area through Stark's top independent retailers."
"We saw an opportunity to introduce our customers to trusted wellness products that align with their purchasing habits but not broadly available in some of our channels," said Stark Group's COO, Vasilike Miksa. "Our decision to add CBD to our offerings, and specifically Charlotte's Web, is due to the best-in-class reputation that Charlotte's Web has earned as the CBD pioneer and market leader. Charlotte's Web, known for quality and brand strength, will provide our customers and end consumers with natural wellness solutions to help them better their everyday lives."
When President Biden announced federal cannabis policy reform on Oct. 6, the industry’s operators listened closely.
Part of that federal reform is pardoning all federal offenses for simple possession of cannabis. President Biden also called on state governors to follow suit and pardon state-level offenses of simple cannabis possession.
RELATED: Where Candidates Stand on Cannabis in All 36 Gubernatorial Races
“Just as no one should be in a Federal prison solely due to the possession of marijuana, no one should be in a local jail or state prison for that reason, either,” Biden said.
There are more than 40,000 individuals incarcerated for cannabis in the U.S., according to an estimate from Last Prisoner Project, an advocacy organization focused on ending cannabis prohibition and restoring justice to those imprisoned on cannabis convictions.
During Tuesday’s midterm election, voters approved measures in Maryland and Missouri to establish a legal adult-use cannabis industry. The measures for adult-use legalization in Arkansas, North Dakota and South Dakota failed.
RELATED: Maryland and Missouri Legalize Adult-Use Cannabis; Three Other Ballot Measures Fail
While the measures’ passage in two states is a major step forward, challenges still lie ahead toward establishing adult-use markets in Maryland and Missouri.
One potential challenge could take place in a courtroom. Opponents of legalization have a history of challenging ballot measures with lawsuits before, and sometimes even after, Election Day.
It happened with South Dakota in 2020 after voters passed a measure to set up an adult-use industry. Nearly a month after that measure passed, Pennington County Sherriff Kevin Thom and South Dakota Highway Patrol Col. Rick Miller filed a lawsuit, which was supported by Gov. Kristi Noem, to challenge the measure.
The state’s supreme court ultimately ruled that Amendment A violated the state’s single-subject rule in Article XXIII of the South Dakota Constitution and therefore was an unconstitutional ballot initiative.
JUPITER, Florida, Nov. 11, 2022 - PRESS RELEASE - eBottles, the cannabis industry’s leading rigid packaging provider, announced an overhaul of its brand and website. Building on the company’s top market position and expertise in the field, eBottles has created a distinct and compelling brand that embodies its standing as an expert in the cannabis packaging space.
