MjLink Cannabis Business News and Press
Cannabis delivery and hospitality locations could start this summer in Denver, after the City Council unanimously agreed to overhaul the local cannabis industry by passing two measures on April 19.
To make Denver's cannabis industry more diverse, equitable and inclusive, city officials have been working on making changes to the industry's cannabis laws for several years, The Denver Post reported.
The first bill would lift Denver's license cap on new stores and cultivation facilities, which has been in place since 2016. According to The Denver Post, it would also permit dispensaries to hire third-party vendors to deliver cannabis directly to consumers.
As previously reported by Cannabis Business Times, social equity applicants are the only people who would be able to receive a delivery license until 2024, while permits for hospitality businesses, stores, transporters, cultivation and manufacturing facilities would be limited to social equity applicants until 2027.
The second measure would legalize cannabis consumption facilities such as bars and clubs, where customers could bring cannabis to consume, and clubs could sell small amounts of cannabis for consumption, The Denver Post reported. The measure would also allow the city to implement cannabis tour buses or shuttles, where people can consume cannabis on board while being taken on a tour around the city.
While city Mayor Michael Hancock supports both measures, over a dozen Denver public school principals wrote a joint letter to the city council expressing their concerns. The letter stated that increasing cannabis availability could lead to a rise in cannabis consumption among young people, the Associated Press reported.
With 2020 sales reports in the books and a clear-eyed look at early 2021 retail trends, all signs point to a booming cannabis economy. It’s come up in conversation frequently over the past year, but the “essential” tag that most states bestowed upon the legal cannabis business has been a real boon throughout the pandemic. Whatever momentum was built up in 2020 seems to be carrying over into 2021—with no signs of slowing down.
As more states come online and as legal cannabis picks up traction as a normalized segment of the American business sector, consumer interest seems to rise steadily. States like Maryland and Arkansas (in the medical market) and Illinois (with a booming adult-use market) issued updates this week that provide some serious revenue numbers.
In Illinois, in fact, as Assistant Editor Andriana Ruscitto reports, "dispensaries and wholesalers had to adjust daily operations to effectively manage the influx of sales.”
Not a bad problem to have.
We’ve rounded up some of the key cannabis headlines from the week right here.
And elsewhere on the web, here are the stories we’ve been reading this week:
Miami Herald: “A high-profile effort to legalize marijuana was all but killed by the Florida Supreme Court Thursday.” Read more Local Coast Outpost: Papa and Barkley Social, “the chic, new-concept cannabis consumption lounge” from the hemp-CBD business, opened in Eureka, Calif. Read more Yahoo! Finance: “Long-time marijuana legalization advocate Rep. Earl Blumenauer (D., Ore.) is optimistic about the chances of ending the federal prohibition of marijuana now that Democrats control both chambers of Congress.” Read more Asbury Park Press: “For the first time since New Jersey legalized marijuana, its constituents had a chance to sound off on the regulators who will oversee it all. The New Jersey Cannabis Regulatory Commission held its second-ever meeting on Thursday, the first time members of the public had their chance to make comments on the state's existing medical marijuana and, eventually, recreational legal weed industries.” Read more North Bay Business Journal: Nicole Elliott, California Gov. Gavin Newsom’s top adviser on cannabis told a 4/20 crowd that, “with California legalizing adult use in 2016, the feds may compromise with a relaxing of rules on interstate commerce — which would essentially allow for transportation of related goods over state boundaries.” Read more]]>
The State of Ohio Board of Pharmacy has approved increasing the number of state dispensary licenses by 73, bringing the total allowed to 130 statewide.
According to the proposal, the Board considered three key factors when deciding to expand the number of dispensary licenses: the state’s population, the number of patients seeking to use medical cannabis and the geographic distribution of dispensary sites.
The Board initially issued 57 dispensary licenses; however, there are currently only 52 operating dispensaries. Compared to bordering states’ medical cannabis programs, like Pennsylvania and Michigan, Ohio’s current number of permits is low based on the state’s population, the proposal states.
For example, Pennsylvania has 109 medical cannabis dispensaries, and its population is about 12.8 million, equaling 0.85 dispensaries per capita. Ohio has 57 medical cannabis dispensaries, and its population is roughly 11.69 million, equaling 0.48 dispensaries per capita, according to the proposal.
And as of January, Ohio’s Medical Marijuana Control Program (OMMCP) reported over 135,000 registered patients, a significantly higher number than the initial estimates of acquiring 12-24,000 registered patients within the first two years of the program, the proposal states. (Medical cannabis sales began in Ohio in early 2019.)
The Board also found that there are currently “three dispensary districts without an operational dispensary, thus indicating a need to increase the number of dispensaries to ensure geographic distribution and patient access.”
CLEVELAND, OH – April 23, 2021 – Cannabis Business Times is pleased to announce the launch of a new limited podcast series, How to Win a Cannabis Cultivation License, which will run through June 11.
The series, sponsored by Quest, is hosted by Cannabis Business Times Digital Editor Eric Sandy, and includes interviews with executives at Terrapin, Sinse, Harbor Farmz, Apothca, Trulieve, Napa Valley Fumé and other businesses operating in the legal cannabis space.
“Launching a cannabis cultivation business is a complicated and often expensive endeavor, and this series presents listeners with a great opportunity to gain insights from those who have successfully navigated the process,” Sandy said. “We are excited to launch the podcast to help those interested in entering the legal cannabis cultivation industry increase their chances of success.”
How to Win a Cannabis Cultivation License can be found at cannabisbusinesstimes.com, and on Spotify, Google Play and Apple Podcasts. The podcast’s first episode aired April 9, with weekly episodes airing every Friday through June 11.
About Cannabis Business Times
Cannabis Business Times was founded in July 2014. Its focus is to help accelerate the success of legal cannabis cultivators by providing actionable intelligence in all aspects of the business, from legislation, regulation and compliance news to analysis of industry trends and opportunities, as well as expert advice on cultivation, marketing, financial topics, legal issues, business management and more.
NORTH LITTLE ROCK, Ark., April 21, 2021 (GLOBE NEWSWIRE) – PRESS RELEASE – Cannabis financial services provider Abaca has partnered with Staley Technologies and CIMA Cash Handling America Inc. to digitize one of the last remaining analog aspects of the industry—cash management.
The cost and risk of handling cash have been persistent problems in the cannabis industry. The companies’ collaboration delivers an integrated solution to cannabis operators, financial controllers and chief financial officers with secure cash custody processes and real-time visibility on company cash across the organization.
“The cannabis industry is oftentimes the last to see its business processes streamlined with tech-forward solutions because of compliance and development costs,” Abaca Chief Strategy Officer Brian Bauer said. “Abaca’s partnership with Staley Technologies and CIMA brings our clients, whether multistate operators or single dispensaries, a seamless solution. Clients can log into Abaca Online Banking and see a real-time cash position and transaction log, in addition to being able to manage financial operations and send money.”
The integrated back-office, cash-recycler solution is also having an operational impact at the retail dispensary level. Store management saves 20 to 40 hours a week in cash handling, freeing up time for managing revenue-producing activities.
“CIMA smart safes allow dispensary staff to easily count, deposit and record cash in seconds,” CIMA Vice President Vik Devjee said. “This solution formalizes the cash handling system. Employees drop cash into the counter, then it is deposited in the safe, and finally our smart safe prints a receipt for an accounting log. Our recyclers allow operators to prepare floats and access change, too. Owners and management can log into Abaca Online Banking to view all safe activity.”
Information gathered during physical cash counting and depositing into CIMA’s smart safe is displayed real-time in the Abaca Online Banking portal. Hardware installation and support is provided by Staley Technologies.
Virginia Gov. Ralph Northam detoured his signing of adult-use cannabis legislation, but an amendment package decided by a tiebreaker cleared a path for the stroke of his pen on Wednesday.
The state’s legislative chambers overcame differences to pass a compromise bill on Feb. 27, after each body passed different measures—Senate Bill 1406 and House Bill 2312—to legalize cannabis possession, personal cultivation and retail sales for adults 21 years and older.
The problem? Those legalization efforts, including possession laws, would not have gone into full effect until Jan. 1, 2024. Following the legislature’s passage, Jenn Michelle Pedini, Virginia’s executive director for the National Organization for the Reform of Marijuana Laws (NORML), said that timeline wasn’t good enough and she hoped to continue working to accelerate specific facets of legalization. Northam agreed and pushed to expedite certain components of the legislature’s bill.
On April 7, the General Assembly approved the Democratic governor’s amendment package by way of Lt. Gov. Justin Fairfax casting the deciding vote in a split Senate. As a result, adults 21 years and older will be allowed to possess up to 1 ounce of cannabis and grow up to four plants per household starting July 1, 2021—speeding up the timeline 2 1/2 years.
“As of July 1, 2021—who’s counting, but 71 days from now—Virginia will no longer police adults for possessing small amounts of marijuana,” Northam said during his signing ceremony Wednesday. “What this really means is people will no longer be arrested or face penalties for simple possession that follow them and affect their lives. We know that marijuana laws in Virginia and throughout this country have been disproportionately enforced against communities of color and low-income Virginians.”
According to Virginia’s Joint Legislative Audit and Review Commission (JLARC)—the state’s non-partisan research arm—the average arrest rate of Black Virginians for marijuana possession was 3.5 times higher than the arrest rate for white individuals from 2010-2019, and their conviction rate was 3.9 times higher than white individuals.
Today marks the second Earth Day for the adult-use cannabis market in Illinois. The industry is in a position of influence to help us all understand what it takes to be mindful about balancing costs for consumers with conservation and sustainability priorities.
With 21 existing cultivation centers, the state has taken the approach to ensure this cash crop leads the way toward earth-friendly industrial agriculture. Regulation for the best growing environments, however, has some tradeoffs, and there are barriers to environmental entrepreneurship that intersect with equity. What is clear is that MSOs like Cresco Labs and groups like the Illinois Environmental Council are each doing their part to create an equitable and environmentally conscious industry.
We listen and share with Cary Shepherd, former policy director for the Illinois Environmental Council, and Jason Nelson, senior vice president of horticulture at Cresco Labs, to learn a little bit about how Illinois legislation got to be so green—and what it all means for a budding industry in these challenging times.
Mila Marshall: The Illinois Environmental Council represents more than 90 environmental organizations across the state. Cary, can you share a little bit about how the IEC came about to working on the recommendations for the Cannabis Regulation and Tax Act?
Cary Shepherd: We worked with the University of Chicago Abrams Environmental Law Clinic to do a policy and law review on sustainable cannabis growth to help us draft language that was reflective of the priorities and concerns of the network. The focus of the bill was not on the environmental, which isn’t a bad thing—Illinois’ bill was a criminal justice reform bill—but we were able to work with IEC members to create legislation that protects the environment very similarly to how other agricultural industries are held accountable, for example.
MM: Some people may feel some apprehensive about the additional environmental legislation in H.B. 1438. It seems as though the environment and the economy are always pitted against each other. What were the actual concerns from the environmental community? Why were these elements necessary to include?
During a 31-day reporting period that ended on April 11, the average daily medical cannabis sales in Arkansas approached nearly $900,000, according to a Arkansas Democrat-Gazette report.
The state’s 32 dispensaries operating as of April 11 reported total sales of $27 million from 3,730 pounds of product sold during the 31 days, the news outlet reported.
The new daily sales average is nearly a 30% increase from the previous 23-day reporting period that ended on March 11, according to the Arkansas Democrat-Gazette. Additionally, the daily sales average has increased by roughly $300,000 since last reported by Cannabis Business Times in Sept. 2020.
Since the state’s first legal cannabis sale in May 2019, dispensaries have reported about $285 million in medical cannabis sales through April 11—charging about $16 per gram on average—from more than 40,000 pounds of cannabis products, the news outlet reported.
From March 20 to April 10, the number of active patient cards has increased by more than 3,500, and as of April 10, more than 74,000 Arkansans had active medical cards, the news outlet reported.
Furthermore, six more dispensaries in Arkansas are in the process of opening, the news outlet reported.
]]>The Maryland Medical Cannabis Commission (MMCC) released a retail sales data report, which shows that medical cannabis dispensaries in Maryland recorded $48.1 million in cannabis sales in March.
The reported sales for March indicate a 41% increase in medical cannabis sales compared to April 2020, which reported $34 million in sales.
Additionally, Maryland medical cannabis dispensaries are now required to abide by new rules related to edible cannabis products, which went into effect on April 19, Herald-Mail Media reported.
The new rules require dispensaries to sell locking storage containers to store edibles and prohibit medical cannabis dispensaries from selling edibles over 10mg of Tetrahydrocannabinol (THC) per dose and 100mg of THC per package unless the MMCC approves it, Herald-Mail Media reported.
Furthermore, the new regulations require products to contain warning labels about cannabis causing impairments and the potential health risks cannabis consumption can have during pregnancies.
According to Herald-Mail Media, the new rules come after the Maryland General Assembly suggested legalizing adult-use cannabis in Maryland. Still, the legalization effort has yet to gain traction in the state.
]]>Illinois' monthly adult-use cannabis sales surpassed $100 million for the first time in March.
The new sales record, reported by the Illinois Department of Financial and Professional Regulation (IDFPR), tops February sales by nearly $28 million. According to the report, Illinois sold nearly 2.3 million cannabis items worth roughly $109.1 million in March.
The report also indicates that about 75% of cannabis sales came from in-state residents, while 33% of sales came from out-of-state residents.
The state's March cannabis sales were reflected in the day-to-day dispensary and wholesale operations in Illinois.
Cresco Labs, a vertically integrated multi-state cannabis operator, saw a significant lift in sales in March across its wholesale customers and its ten Sunnyside retail locations in Illinois, said Melissa Wagamon, regional president of Cresco Labs Illinois and Michigan locations.
But what factors helped drive cannabis sales in March?
WASHINGTON, D.C., April 20, 2021 – PRESS RELEASE – The Federal Cannabis Regulations Working Group released its Principles for FederalCannabis Regulations and Reform, outlining what a federal regulatory framework—grounded in justice and social equity—should look like. The working group was convened by the Drug PolicyAlliance at the beginning of this year.
Throughout a series of meetings and in-depth conversations, the group—made up of cannabis state regulators, public health professionals, criminal justice reform advocates, civil rights attorneys, people working with directly impacted communities in the cannabis industry, re-entry advocates, academics and an expert involved in Canada’s cannabis regulation—has identified key principles that should guide the development of federal cannabis regulation policies. The principles document encourages and provides guidance on issues related to racial justice, equity, preventing underage use, elimination of lifelong consequences, medical use, taxation, research and more. This release precedes the group’s continued effort to develop and roll out a more comprehensive set of recommendations for Congress on crucial issues such as—but not limited to—which federal agency should regulate cannabis (and to what extent), what kind of product should cannabis be regulated as, expungement, workforce development, medical use, non-commercial activity, and enforcement.
"As we get closer to federal marijuana legalization being a reality in the United States, it’s more urgent than ever before to create a regulatory framework that both comprehensively addresses the harms of prohibition and ensures just and equitable future outcomes," said Queen Adesuyi, policy manager for the Drug Policy Alliance's Office of National Affairs.
"We have already seen the way industry is jockeying for the opportunity to regulate themselves, and it is critical that advocates—who are representing the interest of those who have been most impacted by prohibition, and those who are in the best position to prevent future harms—set the agenda for how federal cannabis regulation should work,” Adesuyi said. “The legal cannabis industry offers an opportunity to encourage and build out an emerging marketplace that is intentionally accessible to Black, Latinx, indigenous and working-class entrepreneurs as well as legacy operators that have borne the brunt of prohibition. "
While the MarijuanaOpportunity Reinvestment and Expungement (MORE) Act, passed by the House last session, addressed the impacts of criminalization in a comprehensive way, in its original form it did not address regulation. These recommendations intend to close that loop, and to prevent unintended and problematic language from getting added to the bill as it did prior to being passed out of the House last year.
The principles emerged from several thorough and informed conversations held by the core group members of the Federal Cannabis Regulations Working Group. The group continues to meet and formulate further recommendations that will be offered to Congress, namely to Sens. Cory Booker, Ron Wyden and Majority Leader Chuck Schumer, who plan to take on regulations in the next iteration of the MORE Act. The group’s recommendations will be vetted by a lengthy list of subject matter experts across sectors and issue areas, including medical doctors, academics, researchers, immigration attorneys, labor law experts, directly impacted individuals and leaders, and more.
NEW YORK, April 20, 2021 – PRESS RELEASE – The Blinc Group, Inc., the regulatory-focused designer and provider of premium, customized and bespoke vaporizer technologies, is launching its latest patent-pending vape technology designed to save brands thousands in lost inventory and give consumers peace of mind and clarity with their vape purchase. The Blinc Group is introducing The Halo System.
“For some odd reason it has become normal to leave the cannabis vape consumer uninformed on what’s inside their vape cartridge, the second they discard the box,” said Sasha Aksenov, the co-founder and chief innovation officer of the Blinc Group. “Labeling standards are rigorous for the outside packaging, but once the product is out of the box, there is nothing. The Halo System takes the guesswork out of knowing what’s in your cartridge with a simple trim ring that labels the contents of the cartridge.”
The Halo System consists of two bands, one at the base of the mouthpiece or “tip” and the other at the base of the cartridge—TipHalo and BaseHalo. Before capping your cartridge, you simply snap the TipHalo onto the top of the cartridge with the strain name. The ring is also easily removed, if you decide that the strain you’ve invested in is not selling and you would like to fill your cartridges with another.
“An operator typically orders hundreds of thousands of cartridges at a time at an average of roughly $2 each,” Aksenov said. “With the rapid pace at which our industry trends evolve—forecasting how each product will perform is a big challenge. This is the core of the ‘unmarked’ cannabis vape products issue. Now a simple solution like the Halo System TipHalo allows the brands and licensed producers to brand their products on the fly, and, if needed, pivot for pennies, not dollars.”
Green Revolution, a multistate producer-processor in California and Washington, believes there is a need for consistency not only in the products that reach the end consumer, but the information provided when they reach the consumer.
“Partnering with Blinc Group to create a perfect consumer experience is something we are excited about. There’s a clear market demand for Green Revolution’s unique experience driven products. Blinc’s Halo System enables us to properly communicate the effect of each product at scale and clearly inform the Green Revolution consumer, every time,” said Joe Derr, the director of sales and marketing for Green Revolution.
Cannabis banking reform deposited another decisive victory in the U.S. House on Monday evening, when bipartisanship took over the floor of the lower chamber.
Cruising to passage by a 321-101 vote, the Secure and Fair Enforcement (SAFE) Banking Act, which aims to bring safe harbor to depository institutions providing financial services to state-legal cannabis businesses, is the first major piece of cannabis legislation to be approved by this Congress. Democrats voted 215-0 in favor of the bill, while Republicans voted 106-101 in favor.
In the last Congress, the lower chamber overwhelmingly passed a standalone version of SAFE Banking in 2019, and then House members passed the measure two more times as part of federal coronavirus relief bills in 2020. But the legislation stalled, in part because former Senate Majority Leader Mitch McConnell, R-Ky., never acted on calendaring it for floor debate in the upper chamber.
RELATED: Senate Follows Suit in Reintroducing SAFE Banking Act
House lawmakers debated the current legislation, House Bill 1996, on the floor Monday afternoon, just hours before the official vote. In his opening remarks as the chief author of the bill, Rep. Ed Perlmutter, D-Colo., said passing the measure is a matter of public safety, accountability and respecting states’ rights.
Eighteen states and the District of Columbia have either implemented or passed adult-use cannabis measures, while the majority of states have medical cannabis programs that depend on related businesses to remain fully functionable.
An adult-use cannabis legalization bill completed a House trifecta last week in Minnesota, where primary sponsor Rep. Ryan Winkler helped steer the legislation through three committees. House File 600 has now been approved by seven committees overall in the lower chamber.
First introduced in February, H.F. 600 has 35 lawmakers signed on for sponsorship—all Democrats, who own a 52% majority in the House. Included in the framework of the bill, which would allow for adults 21 years and older to possess up to 10 pounds of cannabis in a private residence, up to 1.5 ounces in public and grow up to eight plants (four mature) for personal use, H.F. 600 also includes expungement, on-site consumption, delivery and social-equity provisions. The bill would also establish a Cannabis Management Board and advisory councils.
Mostly tiptoeing along party lines, H.F. 600 cleared the Environmental and Natural Resources Finance and Policy Committee by an 11-7 vote on April 12, the Judiciary Finance and Civil Law Committee by a 9-7 vote on April 14, and the State Government Finance and Elections Committee by a 7-5 vote on April 17.
Specifically, during the Judiciary Finance and Civil Law Committee hearing, Rep. Winkler, who is also the House majority leader, said, “The purpose of House File 600 is to eliminate the harm that cannabis has in our society. The primary harm that cannabis poses in Minnesota is the prohibition and criminal enforcement of cannabis. The goal of House File 600 is to shift an illegal marketplace that is policed and overpoliced disproportionately and instead to create a policy of repair and opportunity for those most adversely affected by the war on drugs.”
In Minnesota, whites and African Americans use cannabis at approximately the same rate, yet arrest records are even more disproportionate in the state than they are nationally, said Munira Mohamed, a policy associate at the American Civil Liberties Union of Minnesota. Mohamed was one of several testifiers who advocated in favor of the bill during the hearing.
According to Mohamed, a Black person is 5.4 times more likely to be arrested for cannabis possession than a white person in Minnesota, which is significantly higher than the national average of a Black person being 3.6 times more likely to be arrested.
Dispensaries are putting the finishing touches on 4/20 displays and events (whether in-person or online) as the cannabis holiday comes around the corner. It’s been another busy week in the industry, with both good news and sad news—and with a sense of political momentum that might bring more opportunities this summer.
As Marijuana Moment reports, U.S. Sen. Chuck Schumer is promising a comprehensive cannabis reform bill in Congress “soon.” What does that mean? It’s hard to say, but earlier announcement from Schumer (and Sens. Cory Booker and Ron Wyden) have hinted at some sort of palatable, all-in bill that stands a chance of passing this legislative session. The distinction between “decriminalization” and “legalization” has been an apparently touchy point of debate, which may be one reason the bill’s status remains hazy.
That said, we’ve rounded up some of the key cannabis headlines from the week right here.
The week started off with a nice formality, as New Mexico Gov. Michelle Lujan Grisham signed her state’s adult-use cannabis bill into law. Read more Two tragic deaths befell the cannabis space as the week went on, with the losses of pioneering advocate Steve Fox and entrepreneur Sara Batterby. Read more about Fox here, and read more about Batterby here In lighter news, Colorado is auctioning off 14 cannabis-themed license plates in a fundraiser for the Colorado Disability Funding Committee. Read more As the delivery of cannabis products begins to spark interest among states, Uber CEO Dara Khosrowshahi told CNBC on Monday that the company could start delivering cannabis products if federal regulation permits the company to do so. Read moreAnd elsewhere on the web, here are the stories we’ve been reading this week:
Tahoe Daily News: City officials in South Lake Tahoe, Calif., take stock of the local cannabis industry. Read more Los Angeles Times: This week, the Times takes a look at how LA is influencing the broader cannabis industry, “from pot-infused pizza and the boom in minor cannabinoids to bettering your buzz through DNA analysis, [trends] that may have a hand in shaping what the future of weed looks like across the country and around the world.” Read more Albuquerque Journal: “Five medical cannabis producers wrote in a letter to [New Mexico] state officials this week about concerns that the recently approved legalization could lead to a supply shortage for medical marijuana patients starting this summer.” Read more Yahoo! Finance: NBA stars John Wall and Carmelo Anthony have invested several million dollars in Leune, a California cannabis company. Read more JD Supra: “Federal securities regulators recently obtained judgments in two enforcement actions brought in federal court in California and Illinois involving cannabis-related businesses raising capital.” Read more ]]>Gilberto “Berner” Milam Jr. has created an empire.
After starting his (legal) cannabis career in the early 2000s as a Bay Area budtender, the rapper/entrepreneur noticed a lack of branding in the nascent industry. With little more than a strong vision, a love for the plant and an inhuman work ethic—he’s confessed to sleeping just four or five hours a night—Berner parlayed one powerful strain into Cookies, a global lifestyle brand with more than 20 dispensaries across the U.S. and Israel, a clothing line and a new digital content platform called Couch Locked Network (CLN).
CLN will launch on 4/20 with an inaugural comedy show, “Couch Locked.” The event touts a who’s-who of famous weed connoisseurs, from Bob Saget to Donnell Rawlings. The hybrid event consists of a live show with limited tickets on an outdoor terrace at a hotel in San Francisco. Viewers not attending in person can tune in via PPV livestream on Veeps.com.
Berner spoke to Cannabis Business Times and Cannabis Dispensary about how the hybrid comedy show came about, increasing Black and brown ownership in the cannabis industry, and what it would take for him to sell Cookies.
Raj Chander: Give us some background on the genesis of “Couch Locked.” How did it come together? Who was involved?
Berner: I actually designed the logo about five years ago, I’ve been sitting on it for a while. I’ve always wanted to get into the comedy space. ... Obviously, smoking bud, you know, it’s just part of what comes with it. You relax. But with COVID being COVID and not wanting to miss another 4/20 event, I thought it was the perfect time to bring a livestream, in-person, limited-ticket comedy show to the table. I wanted to laugh, man, and I feel like the world needed a laugh. We want to bring smiles to people’s faces. ... This felt like a good time to implement something I’ve been sitting on.
Canopy Growth Corporation (“Canopy”) (TSX: WEED, NASDAQ: CGC) and The Supreme Cannabis Company, Inc. (“Supreme Cannabis” or “Supreme”) (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) announced April 8 that they have entered into a definitive arrangement agreement under which Canopy will acquire all of Supreme Cannabis’ issued and outstanding common shares in a transaction valued at approximately $435 million on a fully-diluted basis.
Following completion of the acquisition, Canopy will possess one of Canada’s leading cultivation brands, 7ACRES. In addition to receiving a market premium, Supreme Cannabis shareholders will also benefit from Canopy’s U.S. CBD business and conditional positioning for continued exposure to the U.S. market expansion.
Canopy will also add Supreme Cannabis' Kincardine hybrid greenhouse cultivation facility to its production capabilities as part of the acquisition.
"The acquisition combines Canopy’s preeminent position with Supreme Cannabis’ Top-10 position in Canada to create a pro forma Canadian recreational market share of 13.6%(1), including 7ACRES holding Canada’s number one premium flower brand position, number one in PAX vapes, and Top-5 in pre-rolled joints(2)," the press release noted. "Supreme Cannabis’ Blissco and Truverra brands also add breadth to Canopy’s market presence in both the recreational and medical markets."
Supreme Cannabis shareholders will receive 0.01165872 of a Canopy common share and $0.0001 in cash in exchange for each Supreme Cannabis Share held, according to a press release about the acquisition. The Transaction provides Supreme Cannabis shareholders with a premium per Supreme Cannabis Share of approximately 66% based on the closing prices of the Supreme Cannabis Shares and Canopy common shares on the Toronto Stock Exchange (the “TSX”) as of April 7, 2021.
“...We’re excited to reach more consumers through Supreme’s premium brands and high-quality products, further solidifying Canopy’s market leadership,” said David Klein, Chief Executive Officer of Canopy. “Supreme’s deep commitment to superior genetics, top-tier cultivation and strict quality control, paired with Canopy’s leading consumer insights, advanced R&D and innovation capabilities, is expected to create a powerful combination that aligns with our strategic focus to generate growth with premium quality products across key categories.”
]]>For several years, commercial cultivation has been a trial-and-error process for growers as they navigate the most efficient way to care for plants throughout the different life cycle stages.
During each stage, plants must have specific plant essential nutrient ratios to develop, grow or produce at its best. If a plant has too much or too little of one of the 14 essential plant nutrients, it will not complete its life cycle stages correctly, says Ian Bateman, who works in professional technical services at Hawthorne Gardening Company Horticulture Division.
“When you think of the plant body, it's like a skyscraper you're trying to build,” Bateman says. “All the nutrients are pieces of equipment, machinery or structural components that help make that building. So, if you have one missing piece out of the equation, you can't finish your building, and that's how I would think about plant nutrients. If a grower has just one out of the 14 nutrients, that isn't sufficient to sustain the growth level they want, then, the growth is slowed down by that nutrient.”
Knowing what to feed a plant when it needs it will help save time, money, and most importantly, the plant. Additionally, understanding essential plant nutrients and maintaining proper ratios can help with crop steering, Bateman says.
Cultivators use crop steering to direct the plant to grow in the way they want by altering the environment, how often plants are irrigated and other inputs. Growers can steer the plant's growth and habit by adjusting nutrients, as well, another important component of crop steering, Bateman says.
In order to use nutrients to steer crops, Bateman suggests these key considerations.
With the introduction of nutrient supplements, one common misconception Ian Bateman, who works in professional technical services at Hawthorne Gardening Company’s Horticulture Division, sees at cultivation operations is growers focusing their attention onsupplements at the expense of base nutrients, or the primary fertilizers that contain essential macronutrients such as nitrogen, phosphorus and potassium (NPK). As a result, plants don’t get the nutrition they need from their food, and because supplements aren’t meant to be holistic, deficiencies can manifest.
“[Base nutrients contain] the bulk of the plant essential nutrients,” Bateman says. “What the supplements should be doing is enhancing or supporting the base nutrients, but because of marketing, because of how these products are positioned, growers think that they’re going to get all the yield and the performance out of the supplements and the base nutrients become kind of an afterthought.”
Just like for humans, vitamins are a great way to supplement nutrients people may not get enough of in their regular diets, but they can’t completely negate unhealthy eating.
“You can take all the fish oil and all the B vitamins and all the stuff you want, but if you eat like crap, you’re going to look like crap and you’re going to feel like crap,” says Ian Bateman. “The same is true for plants.”
When plants don’t get what they need, nutrient deficiency symptoms vary, but common problems include interveinal chlorosis (yellowing leaf margins,) or chlorosis (leaves appear pale, lime green or even yellow), Bateman says. However, it’s often difficult to diagnose the specific nutrient disorder without lab testing, and even then, it’s generally not just one nutrient that is lacking.
“In the real world, most of the time, when plants are deficient, they will have multiple things wrong with them,” he says. “It’s rarelyjust one nutrient. It can happen, but often times it’s linked because nutrients are linked.”
DENVER, April 15, 2021 – PRESS RELEASE – The next evolution of drinking with friends has come to the Midwest and East Coast. Keef Brands, founded in 2010 in Boulder, Colorado, as one of the original cannabis-infused beverage companies and now ranked by BDS Analytics as the country’s No. 1 cannabis beverage brand, is proud to announce a major expansion into Missouri, Ohio and Maine. The company’s products can now be found in seven states across the country and Puerto Rico, with additional markets on schedule to launch this summer.
“Now is a prime time for Keef Brands to make its way across the country and introduce new markets to our revolutionary wave of consumption,” Keef Brands CEO Travis Tharp said. “We set ourselves apart with drinks that taste great and have fast-acting effects—two extremely powerful properties both for those who use cannabis as prescription medicine as well as for adults who consume cannabis for pleasure. Keef brings people together as they connect over the shared experience of enjoying infused drinks.”
Keef Brands’ award-winning portfolio has already earned a loyal customer base in the Western United States, as the company currently offers eight of the top-10 selling cannabis beverages in Colorado as well as two of the 10 top-selling in California. Keef’s beverages, formulated with high-quality cannabis extract, include infused versions of classic soda flavors, low-calorie options, mocktails and more.
Below is the list of Keef Brands products currently available by state:
Maine:
Keef Classic Original Cola (10 mg THC): previously Keef Cola; the first Keef product to ever be made provides a familiar cola taste that you would find in soda fountains across the country.Keef Classic Bubba Kush Root Beer (10 mg THC): Winner of the High Times Cannabis Cup for Best Edible; this flavor also mixes extremely well with ice cream to create the ultimate cannabis-infused root beer float.Keef Classic Orange Kush (10 mg THC): Refreshing and tangy notes of orange citrus flavor.Ohio:
