MjLink Cannabis Business News and Press
Guam legalized adult-use cannabis in 2019, and officials are ready to take the next steps in standing up the industry.
The Department of Revenue and Taxation will start accepting adult-use cannabis business license applications Aug. 29, according a Pacific Daily News report, although Dafne Mansapit Shimizu, the department’s director, said during a July 25 meeting of the Cannabis Control Board that officials “will not be able to entertain the licensing applications” by that date.
The board plans to hold another meeting before the applications go live, although a meeting date has not yet been set, Pacific Daily News reported.
Guam’s adult-use cannabis regulations took effect May 29, allowing adults to legally grow, possess and consume cannabis, although it remains illegal to sell until the commercial market launches, according to Pacific Daily News.
The island’s 2019 cannabis law mandates that regulators must begin accepting applications from cultivators, manufacturers, testing labs and dispensaries no more than 90 days after the rules took effect, which is Aug. 29.
NEW YORK and LEAMINGTON, Ontario, July 28, 2022 (GLOBE NEWSWIRE) --PRESS RELEASE-- Tilray Brands, Inc.(Nasdaq: TLRY; TSX: TLRY), a global cannabis-lifestyle and consumer packaged goods company today reported financial results for the fourth quarter and full fiscal year ended May 31, 2022. All financial information in this press release is reported in U.S. dollars, unless otherwise indicated, and presented in accordance with accounting principles generally accepted in the U.S. (“GAAP”).
Irwin D. Simon, Tilray Brands’ Chairman and Chief Executive Officer, stated, “Over the past year, we have accelerated the optimization of our operations and sharpened execution against our most profitable core business opportunities in medical, adult-use, wellness, and beverage-alcohol across Canada, Europe, and the U.S. At the same time, we accelerated our growth potential through tactical execution and strategic initiatives that enable accelerated revenue growth through improved cultivation, brand building, and distribution. These actions should also contribute to bottom-line performance improvement through production efficiencies and cost reductions. The outcome of this work is that we have driven top line growth across our markets, significantly improved our operating performance, and strengthened our balance sheet.”
He continued, “We are confident that our proactive steps to plan for the evolution of the cannabis business in each of our markets has positioned Tilray Brands to be at the forefront of the industry on a global basis while delivering profitability and driving shareholder value.”
Financial Highlights - 2022 Fiscal Fourth Quarter1
Net revenue grew 8% to $153.3 million during the fourth quarter from $142.2 million in the prior year quarter. On a constant currency basis, net revenue increased 14.5%.Net loss of $457.8 million during the fourth quarter compared to net income of $33.6 million in the prior year quarter. Net loss in the fiscal 2022 fourth quarter includes a non-cash impairment of $395.0 million primarily impacting inventory, goodwill and other intangible assets. The impact was related to changes in market opportunities causing a shift in our strategic priorities, and market conditions inclusive of higher rates of borrowing and lower foreign exchange rates.Adjusted EBITDA of $11.5 million, marking the company’s 13th consecutive quarter of positive Adjusted EBITDA.Financial Highlights- 2022 Fiscal Year
Net revenue increased 22% to $628.4 million during fiscal 2022 from $513.1 million in the prior fiscal year. The increase was driven by 17.9% growth in cannabis net revenue to $237.5 million, a 150.0% increase in beverage alcohol net revenue of $71.5 million, and a 928.8% increase in wellness net revenue to $59.6 million. On a constant currency basis, net revenue increased by 29%.Net loss of $434 million in fiscal 2022 includes the non-cash impairment of $395.0 million in the fourth quarter (discussed above).Adjusted EBITDA increased 17.8% to $48.0 million in fiscal year 2022 from $40.8 million in the prior fiscal year.Ended the year with a strong balance sheet and liquidity, including cash and cash equivalents of $415.9 million.Cost-Saving Synergies and Strengthened Balance Sheet
MIAMI,July 28, 2022 – PRESS RELEASE – Ayr Wellness Inc., a leading vertically integrated U.S.multistate cannabis operator, announced the availability of its premium wholeflower brand, Kynd, statewide in Pennsylvania. The company is also announcingthe opening of AYR Indiana, the company’s ninth affiliated medical dispensaryin the commonwealth on July 30th.
“BringingKynd to Pennsylvania continues the introduction of our diverse portfolio ofbranded products to each of the markets we serve,” said Jonathan Sandelman, founder,chairman and CEO of Ayr. “Additionally, we’re excited to introduce the AYRexperience and our high-quality offerings to the medical patients of IndianaCounty and neighboring areas. We’ve received a tremendous reception from thelocal community and look forward to serving them.”
Theinitial launch of Kynd in Pennsylvania includes five strain offerings: “FriedCream,” “Watermelon Gelato #36,” “Kush Cream,” “The Glove,” and “Motor Breath.”Kynd is now available in all nine of the company’s affiliated Pennsylvaniastores. Kynd is also sold in Ayr-owned and third party retail locationsthroughout Massachusetts, Arizona, Florida, and most notably Nevada, where ithas been the leading flower brand for nine straight months, per BDSA.
Locatedat 2244 Oakland Ave., AYR Indiana is the first medical cannabis dispensary inIndiana County, which lies just east of Pittsburgh. The 2,500-square-foot retailspace will offer medical patients access to flower, vaporizers, concentrates,ingestibles, tinctures and topicals through a wide variety of national andlocal brands.
]]>Normalizing cannabis could go a step further under new legislation aimed at allowing industry-related radio and TV advertising.
U.S. Sen. Ben Ray Luján, D-N.M., introduced the Secure and Fair Enforcement (SAFE) Advertising Act on July 26 in Washington, D.C. The 13-page bill would establish federal protections for radio and television stations that provide advertising services to “legitimate” cannabis-related businesses and service providers for such businesses.
In other words, a radio or TV station could accept advertising for legal cannabis products if the station is licensed in a state or territory where medical or adult-use cannabis is legal.
“As more states enact common-sense cannabis legislation, it’s crucial that radio and TV stations can accept advertising without fear of losing their license,” Luján said in a press release. “With health and safety measures in place, this legislation will allow broadcasters to accept cannabis advertisements in accordance with state laws.”
Under current federal law, radio and TV stations cannot accept advertisements for legal cannabis products without risking the forfeiture of their Federal Communications Commission (FCC)-issued licenses to operate because of the status of cannabis as a federally controlled substance.
Luján chairs the Senate Commerce Subcommittee on Communications, Media and Broadband, which oversees the FCC, and said his legislation will help support broadcasters throughout the country.
Today, many forces are at play in making California's legal cannabis market arduous, including overproduction, the illicit market, diminishing wholesale prices, and more.
In a special 90-minute webinar July 26–presented by Cannabis Business Times and Cannabis Conference–seasoned California operators provided insights and actionable tips for how plant-touching businesses can navigate these and other challenges.
Here are 10 key insights from Angela Pih, vice president of marketing for StateHouse Holdings; Jocelyn Sheltraw, director of industry relations at Headset; Claudio Miranda, co-founder of Guild Enterprises; and Nikki Lastreto and Swami Chaitanya, co-founders of Swami Select, from their participation in the “Navigating California: Tips From Seasoned Operators + Experts” webinar.
Editor’s note: These takeaways have been edited for style, length and clarity.
1. Sales are retracting to pre-COVID levels.
“During COVID, right [at] the start of the pandemic, we saw sales spike. … There were long lines for cannabis stores. People were panic-buying cannabis, just like they were toilet paper. And then, a few months into the pandemic, we started to see a bit of retraction. And for the past 12 months, we've been seeing sales declines. … Just know if that's what you're experiencing in your business, you're not alone. The market as a whole is really retracting back to pre-COVID levels, but regardless, I think we still need to just remember, this is very exciting if we think about how big the market already is. Other, more mature markets [like] Colorado [and] Oregon, they're also experiencing similar retractions back to pre-COVID levels.” - Jocelyn Sheltraw, Director of Industry Relations, Headset
More than 390,000 signatures and nearly $6 million in backing still might not be enough in Legal Missouri 2022’s ongoing effort to place an adult-use cannabis legalization measure on this November’s ballot.
While activists from Legal Missouri, a political action committee (PAC), turned in more than double the roughly 171,500 valid signatures needed statewide, the initiative campaign has only crossed the finish line in four of the eight congressional districts so far.
To qualify a petition for the ballot, the initiative effort must include valid signatures from 8% of voters in each of at least six of the eight congressional districts.
RELATED: Missouri PAC Submits Twice the Signatures Needed for Cannabis Measure
As of July 26, Legal Missouri was short 1,573 signatures in the 6th Congressional District, which extends across the northern region of the state, and 1,444 signatures short in the 7th Congressional District, which includes Springfield in the southwestern corner of the state, The Missouri Independent reported.
However, the shortfall in the 7th District was reported differently, at 405 valid signatures shy of what’s needed, by CBS-affiliate KCTV: 29,608 of the 30,013 valid signatures needed had been verified by local election authorities and sent to Missouri Secretary of State John Ashcroft’s office, according to the news network.
The U.S. House has once again approved legislation to expand cannabis research, sending it to the Senate for consideration.
Lawmakers passed the bipartisan Medical Marijuana and Cannabidiol Research Expansion Act July 26 with 325 votes, according to a press release from the office of Rep. Earl Blumenauer, D-Ore., one of the bill’s primary sponsors.
The legislation, also sponsored by Rep. Andy Harris, R-Md., aims to encourage research on cannabis and its potential benefits by streamlining the application process for researchers and removing U.S. Food and Drug Administration (FDA) barriers, according to the release.
“Research is a foundational element for cannabis policy,” Blumenauer, who is also the founder and co-chair of the Congressional Cannabis Caucus, said in a public statement. “At a time when there are four million registered medical marijuana patients and many more likely to self-medicate, it is crucial that researchers are able to fully study the health benefits of cannabis. For too long, the federal government has stood in the way of science and progress, creating barriers for researchers obtaining resources and approval to study cannabis. This bipartisan, bicameral legislation is an important first step to changing that.”
The Medical Marijuana and Cannabidiol Research Expansion Act largely mirrors the Senate’s Cannabidiol and Marihuana Research Expansion Act, which Sens. Dianne Feinstein, D-Calif., Brian Schatz, D-Hawaii, and Chuck Grassley, R-Iowa, filed in March.
The Medicines ControlAuthority of Zimbabwe (MCAZ) is looking to allow hemp-based CBD products to begiven as medicine to patients.
The MCAZ posted a letter to Twitter July 26 informing all licensed cannabis/hemp producers,manufacturers, importers/exporters and retail pharmacists that the organizationis now accepting and reviewing applications for the approval of sellinghemp-based CBD products as complementary medicines to patients, under certainconditions, Bloomberg reported.
Some conditions includesubmitting product samples and a certificate of analysis, stating theindications, warning and contraindications, and more.
The MCAZ stated at the end ofthe letter, “Any hemp-based CBD product applications that do not meet thecriteria above may not be approved for distribution and will be confiscated.Further, sellers may be prosecuted for selling unapproved complementarymedicines.”
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Following the filing of the Cannabis Administration and Opportunity Act (CAOA) on July 21, the U.S. Senate held a hearing on federal cannabis legalization, Decriminalizing Cannabis at the Federal Level: Necessary Steps to Address Past Harms, on July 26.
The hearing was conducted by the Senate Subcommittee on Criminal Justice and Counterterrorism, and presided by Chairman Sen. Corey Booker (D-N.J.) as well as ranking member Sen. Tom Cotton (R-Ark.).
RELATED: Industry Advocates, Stakeholders Appraise Schumer’s Cannabis Bill
Witnesses present at Tuesday’s hearing were Weldon Angelos, president and co-founder for The Weldon Project (read testimony here); Dr. Malik Burnett, medical director for the Maryland Department of Health's Center for Harm Reduction Services (testimony); Edward Jackson, chief for the Annapolis Police Department (testimony); Steven H. Cook, former associate deputy attorney general (testimony); and Alex Berenson, author and former New York Times reporter (testimony).
Booker, who joined Sen. Majority Leader Chuck Schumer (D-N.Y.) and Sen. Ron Wyden (D-Ore.) in filing the CAOA, delivered the opening remarks during Tuesday’s hearing.
“It’s clear now after decades of evidence that the federal cannabis prohibition has failed,” Booker said. “It has failed to make our communities safer, it has failed to reflect modern science, contemporary values across the political spectrum, and its miserably failed a lot of our most vulnerable people in America.”
NEW JERSEY and TORONTO, July 27, 2022 - PRESS RELEASE – TerrAscend Corp., a North American cannabis operator, announced the opening of The Apothecarium Lodi, the company’s third retail location in New Jersey and 27th overall. The dispensary began medical and adult-use sales yesterday.
“Built with [a] drive-thru, off of Route 17 and I-80, two of the busiest highways in New Jersey, we expect the Apothecarium Lodi to be a strong contributor to our growth,” said Jason Wild, executive chairman of TerrAscend. “We are excited to bring The Apothecarium’s elevated retail experiences, including the exclusive Cookies Corner shop-in-shop and the widest product assortment in the state, while continuing to build meaningful relationships with the local community.”
The 5,000 square-foot dispensary, located at 200 NJ-17, features a spacious showroom and interactive “bud bar," where shoppers can see and smell the product before purchase. Patients and consumers can order online or through the Apothecarium app to experience the dispensary drive-thru. The Apothecarium Lodi is located in one of the most populous regions of Northern New Jersey, 14 miles outside of Manhattan and adjacent to the iconic Satin Dolls “Bada Bing” Club, as featured on The Sopranos.
The Apothecarium Lodi joins Maplewood and Phillipsburg in carrying a large assortment of the highly sought-after Cookies, Gage and Kind Tree branded products and accessories, including pre-rolls, vapes, concentrates, and syringes, as well as Valhalla soft chewable lozenges, the company's premium California edibles brand.
In the coming month, all New Jersey Apothecarium dispensaries will capture the unique Cookies retail experience through its “Cookies Corners” concept, which offers branded accessories, flower, pre-rolls, and vapes of proprietary cultivars including Gary Payton, Georgia Pie, Apples and Bananas, The Soap, Doggy Bag, Pancakes, Jealousy, Laughing Gas and more.
To celebrate the opening of the dispensary, the Apothecarium will host a grand opening party on Saturday, August 13th. The company will offer an outdoor market-style event with joint and blunt rolling tutorials, tie-dying stations, games, raffles, giveaways, local food vendors, and donations to local organizations.
As Rhode Island gears to launch adult-use cannabis sales by Dec. 1, 2022, local leaders throughout the state are deliberating over whether they should put an opt-in referendum before their voters on the November ballot.
When Gov. Dan McKee signed the Rhode Island Cannabis Act on May 25, officially making Rhode Island the 19th state to legalize adult-use cannabis in the U.S., the approved legislation included a provision for municipal authority.
While the state’s nine medical cannabis dispensaries—dubbed compassion centers—as well as existing cultivators, manufacturers and testing facilities are grandfathered in and allowed to continue their current business practices, any city or town that does not currently host an existing operator can put an opt-in ballot question to its voters.
Under the signed legislation, that question must read: “Shall new cannabis related licenses for businesses involved in the cultivation, manufacture, laboratory testing and for the retail sale of adult recreational use cannabis be issued in the city (or town)?”
So far, a dozen municipalities have passed resolutions via their town councilors to include that question on November’s ballot, according to ABC-affiliate WLNE. Those 12 towns include:
Cumberland and Coventry, towns of roughly 35,000 residents, are the most populated among those 12.
Over the past 10 years, the startup nature of the cannabis industry has attracted the angel investor as a key source of early stage capital for emerging private cannabis companies. Although angel investors generally provide smaller amounts of capital than family office or fund investors, the role of the angel investor in the cannabis industry is critical. This article examines the angel investor in cannabis and how this type of investor has evolved.
An angel investor is typically a private individual who provides capital for a business startup that is seeking its first round of funding. This type of funding usually takes the form of equity or convertible debt and us considered the riskiest type of capital due to the very early stage nature of the companies they invest in.
The 12 Business Sectors of the Cannabis Industry—and Which Ones Attract Angel Investors
In November 2014, Viridian published the first cannabis industry report that identified the 12 business sectors of the cannabis industry, as shown below.
The five sectors that attracted angel investors were:
Consulting ServicesConsumption DevicesInfused ProductsMiscellaneous AncillarySoftware/MediaWhat are the factors that enables companies in these five sectors to attract angel investors?
Low Capex: Startup companies in these sectors require relatively low capital expenditures and as a result lower amounts of startup funding. Since angel investors generally provide lower amounts of capital compared to family offices or funds, these sectors are ripe for angel investment.No State or Federal License Requirements: These five sectors don’t require state or federal licenses which are very expensive and time consuming, and often require “at-risk” capital. This compares to sectors that do require complex licensing arrangements such as Cultivation & Retail and Biotech.Low Start-Up Costs: Companies in these five sectors have low start-up costs enabling angel investors to provide the necessary startup capital.“Mom and Pop” Businesses: Consulting companies, infused products companies, advertising companies are often started without large staffing or office requirements, lending themselves to angel investors.Public vs. Private Cannabis Companies and the Impact on Angel Investors
According to the Viridian Cannabis Deal Tracker, in 2021, public cannabis companies attracted 83% of all capital invested in the cannabis industry in 2021 vs. only 17% for private cannabis companies. This was the high-water mark for public companies since we began analyzing this in 2015. This meant that there were fewer opportunities for angel investors which by definition invest in early-stage private companies.
Michigan’s cannabis retailers recorded more than $497 million in adult-use sales during the second quarter of 2022, easily the highest-performing quarter on record since the recreational market launched in December 2019.
That figure represents a 32.7% quarter-over-quarter increase from first three months of the year.
In particular, April was a record retail month with nearly $168 million in adult-use sales, according to monthly reports from Michigan’s Cannabis Regulatory Agency. By comparison, adult-use sales averaged just more than $109 million per month in 2021.
But Michigan’s upward trend in overall sales has come despite falling prices for the average flower ounce.
In June 2022, the state’s average retail flower price dipped to $122.43 per ounce for adult-use cannabis—an all-time low. That’s an $87 dive (a 42% decrease) from what the average ounce of adult-use flower commanded in the same month of last year.
Going back even further, Michigan’s average adult-use retail flower price was $512.05 per ounce in January 2020, when the state’s recreational market was just getting going. By January 2021, it was $323.68 per ounce.
Timonium, Md. — PRESS RELEASE — Curio Wellness, a cGMP-certified, vertically integrated medical cannabis company and innovator of health and wellness products derived from cannabis, has announced the launch of two scientifically-developed product lines: GI by Curio and Move by Curio.
GI by Curio is a plant-powered collection designed to improve quality of life, offer accessible options for patients facing gut discomfort or symptoms such as bloating and cramps, and to help improve the body’s gut health. Leveraging advanced science and Curio’s proprietary patent pending pulse technology, this is the one of the first gut-focused, cannabis-derived therapeutic lines by a cannabis brand nationwide.
The GI by Curio collection includes:
Soothe Vape and Tincture: For patients experiencing nausea or upset stomach, quick delivery is essential. The vape and tincture allow for a faster onset since the cannabinoids bypass the digestive system.Stimulate Chew: The medicated chew was created to help patients who struggle with reduced or no appetite.Comfort Tablet: Specifically formulated to address chronic GI issues, the patent pending Comfort tablet doses CBG and low THC in multiple pulses released at different intervals.Move by Curio is the company’s first line of topical products designed to offer targeted relief for those with active lifestyles. The collection includes three treatments—a topical balm, transdermal balm and transdermal gel—that are unscented and non-greasy for optimal and targeted application.
“Curio’s commitment to continuous product research and innovation stems from our mission to develop targeted therapeutics that are safe, effective and reliable for patients seeking alternative, plant-based relief,” said Sandra Hutson, Vice President, Innovation at Curio Wellness. “GI and Move are two prime examples of how our clinical-based approach is helping to reimagine the way medicinal cannabis is delivered to patients who need it most.”
Cannabis sales are on the rise in Illinois as the state’s adult-use sales figures reach $1.5 billion.
Sales are up 50% from $1 billion in fiscal year 2021, according to a CBS News report, and the state has received $445.3 million in tax revenue this year, an increase from $297.7 million last year.
RELATED: Illinois Adult-Use Cannabis Sales Hit $2.8 Billion in First 2 1/2 Years
Illinois’ adult-use cannabis law, the Cannabis Regulation Tax Act, mandates that 25% of the tax revenue generated from adult-use cannabis sales must support economically disadvantaged communities that have been disproportionately impacted by the war on drugs, the news outlet reported.
“Illinois has done more to put justice and equity at the forefront of this industry than any other state in the nation and has worked to ensure that communities hurt by the war on drugs have had the opportunity to participate,” Gov. JB Pritzker said, according to CBS. “The $1.5 billion in sales of adult-use cannabis in Illinois translates into significant tax revenue with a portion of every dollar spent being reinvested in communities that have suffered for decades.”
A new law took effect July 1 in Minnesota to allow the sale of cannabis edibles and beverages infused with hemp-derived THC, but some of the state’s cities are pumping the brakes as they develop local rules for the industry.
In the past month, Marshall, Robbinsdale and St. Joseph have approved moratoriums on sales, according to the Duluth News Tribune, while other cities, including Waite Park and Prior Lake, are considering bans as they weigh regulations to govern cannabis-infused food and drinks.
In addition, Stillwater enacted a one-year moratorium on all cannabis product sales in November 2021, the Duluth News Tribune reported.
“We have no regulations,” Steve Meister, a city council member in Marshall, told the news outlet. “We have no monitoring. We have no taxing. I worry about the people who are most at risk: the children, the young, the elderly people on multiple medications. Taking a timeout just to do a little research on the pros, the cons, the benefits, the risks and figuring out how we're going to deal with this not only in the city of Marshall, but the state, is a great idea.”
Under Minnesota’s new law, adults 21 and older can purchase “edible cannabinoid products” that contain no more than 5 milligrams of hemp-derived THC per serving and 50 milligrams per package, and no more than 0.3% THC by dry weight.
SIOUX FALLS, S.D., July 26, 2022 /PRNewswire/ -- PRESS RELEASE -- Unity Rd., the national cannabis dispensary franchise from Item 9 Labs Corp., is opening South Dakota's first medical cannabis establishment on Wednesday, July 27 with local entrepreneurs, B.J. Olson and Adam Jorgensen. The new shop is located in the Sioux Falls suburb of Hartford at 404 West Opal Lane.
South Dakota natives and best buds, Jorgensen and Olson bring a combined 40-plus years of experience in wireless technology, retail and business entrepreneurship. After witnessing the power of medical cannabis, the duo wanted to share this with those in need in the local community by opening their own medical cannabis establishment with Unity Rd.
"Adam and I have dreamed of having our own business together for a very long time. We are true believers in the benefits of cannabis and knew this was always the path for us," said Olson. "We were very intentional in seeking out our partnership with Unity Rd. Even with our combined retail backgrounds, we knew we would need additional support and resources to navigate the complexities of the industry. Unity Rd. has been instrumental to our success in opening a medical cannabis establishment in South Dakota and we know they have our best interest at heart."
Unity Rd. is a collective of locally owned and operated cannabis shops with the mission to inspire confidence in the benefits of cannabis for all, while keeping the door to dispensary ownership open to everyday entrepreneurs.
From offering a curated cannabis experience that is focused on local patients to hiring local talent, the Hartford shop is engrained in its community and allows for a culture unique to the neighborhood to shine through. Patients can expect the highest quality medical cannabis products available, continuously evolving as the emerging market grows. The shop's approachable and welcoming team members have gone through a robust training program and will be consistently staying up to date on the latest industry trends and product knowledge. Focused on serving a consistent experience with an enlightening, education-first approach, the Hartford shop supports all patients who walk through their doors.
"Being born and raised here, we see ourselves as a true community partner," said Jorgensen. "We are proud that the process of building our establishment from the ground up was through local Sioux Falls or South Dakota businesses, and nearly half of our team are Hartford residents themselves. B.J. and I are dedicated to educating patient card holders on our medical cannabis products as well as becoming even more involved in our community."
Washington D.C. - PRESS RELEASE - On Monday, Minority Cannabis Business Association (MCBA) announced that Amber Littlejohn will be transitioning out of the role as executive director to pursue new opportunities in the cannabis industry. MCBA Board President Kaliko Castille will serve as interim executive director.
During Littlejohn’s time at MCBA she was responsible for leading the organization’s federal policy work, starting off as policy director. She was later hired on as executive director where she authored the MCBA’s National Equity Report & Map, a info-packed social equity resource tool that was released earlier this year, which gives a comprehensive overview of state level legalization policies and their effect on equity.
“MCBA is grateful for the years of service that Amber has given to the cause of a more equitable cannabis industry and the concrete progress on policy she has helped secure on the state and federal level on behalf of Black and brown cannabis entrepreneurs,” said Kaliko Castille, president of MCBA.
Last year, under Littlejohn’s leadership, MCBA submitted nearly 30 pages of comments for the recently released Cannabis Administration and Opportunity Act (CAOA) with many of the organization’s suggestions being included in the latest draft. She was also instrumental in establishing SAFE4Equity, an education campaign in collaboration with Congressman Ed Perlmutter, D-Colo., and cannabis advocacy organizations to support the passage of the Secure and Fair Enforcement Act (SAFE) Banking Act.
“I am grateful for my time with MCBA and look forward to continuing to work with the MCBA community to end prohibition and create an equitable cannabis industry,” Littlejohn said.
MIAMI, July 26, 2022 (GLOBE NEWSWIRE) -- PRESS RELEASE -- Ayr Wellness Inc., a vertically integrated U.S. multi-state cannabis operator, today announced the opening of its 49th Florida dispensary, located in Clearwater, a city northwest of Tampa Bay and St. Petersburg.
The new dispensary, located centrally in Pinellas County at 314 S Belcher Road, boasts 6,100+ square feet of retail space. Product offerings include Ayr’s full line of concentrates, edibles, vapes, and a growing selection of high-quality flower, including Kynd whole premium flower and Later Days whole flower.
“The opening of our Clearwater store continues our rapid expansion in Florida, where we’ve opened 49 stores,” said Jonathan Sandelman, founder, chairman and CEO of Ayr. “Since acquiring Liberty Health Sciences in 2021, we prioritized opening stores in prime locations across the state in an effort to make high-quality cannabis more accessible to patients across Florida.”
In February 2021, Ayr purchased Florida-based Liberty Health Sciences, which included a footprint of 31 dispensaries at closing. Since then, the company has opened 18 additional locations. In addition to the newly opened Clearwater location, the company has three other dispensaries in Pinellas County, the most densely populated county in Florida. Ayr is also in the process of relocating its Dania Beach dispensary, which is expected to re-open in the coming weeks.
In 2021, Ayr relocated its U.S. headquarters from New York City to Miami, underscoring the company’s commitment to the region. Florida has more than 738,000 patients enrolled in its medical marijuana program as of July 22, 2022, per Florida OMMU. Florida’s cannabis market ranks fourth in the nation by total legal cannabis sales, per BDSA, and generated over $1.8 billion in medical cannabis revenue in 2021. BDSA expects Florida’s legal cannabis market to generate $3.4 billion per year by 2026.
Pests are everywhere, and they happen to love the crop that your team is growing. Whether you’re working indoors or outdoors, a host of tiny antagonists await your plants.
So, what’s a cannabis grower to do?
One of the great fronts against mite pests is the world of biological control agents. These predator mites fight back against the problem. This process is called integrated pest management or “plant protection,” as Kansas State University entomologist Dr. Raymond Cloud puts it in this interview.
We spoke with Cloyd ahead of his research-based panel discussion at Cannabis Conference 2022 to learn more about how to combat pesky pests.
Eric Sandy: What drew you to study insects in the first place?
Raymond Cloyd: I've always been interested in biology and the sciences throughout my life. Around high school, I really was fascinated by the diversity of insects, the number of them and just all the wonders of insects. I liked the different morphology and their evolution processes. It's very fascinating dealing with a group of organisms that is by far the largest on the planet.
