MjLink Cannabis Business News and Press
Ascend Wellness Holdings (AWH), a cannabis operator serving medical and adult-use cannabis across five states, announced its new partnership with 1906 to bring “Drops” to Illinois dispensaries.
Drops are in 1906’s best-selling line of swallowable pills, each ranging from 2.5mg of THC to 2.5-25mg of CBD per dose; they are tasteless and calorie-, gluten- and allergen-free, according to the release.
“The introduction of Drops means Illinoisans will finally have access to low-dose, rapid-onset cannabis in a non-combustible format,” the release states.
Drops are fast-acting and are available in six formulations that use organically-grown and pesticide-free cannabis. They are designed to elevate or help a person’s sleep, energy, anxiety, focus, mood or libido, the release states.
In addition to Drops, AWH announced it is also launching new live resin cartridges and PrePacks through its premium cannabis product line, Ozone.
"The live resin cartridges capture the essence of the whole flower in a vaporized form, and each strain of premium flower is extracted at the right time in sub-zero conditions to ensure the maximum amount of cannabinoids and terpenes are captured," the release states.
LAS VEGAS, Nevada, Feb 4, 2021 - PRESS RELEASE - THC Therapeutics, Inc. (THCT), a forward-thinking, publicly-traded technology company, whose mission statement is, "Better Health through the Science of Nature," is pleased to announce today that the company has joined the Las Vegas Medical Marijuana Association (LVMMA).
THCT plans to leverage the diverse membership of dispensary owners, production facilities, cultivators, labs and various companies to further the company’s growth strategy.
As mentioned in our previous press release, the company is moving forward with its financing plans by potentially raising up to $75 million via a Reg A+ offering. Investors that are interested in more information regarding the planned offering may contact the company at the email address below.
Parker Mitchell, the ceo of THC Therapeutics states, "I am excited that THCT is now a member of the LVMMA and is presently attending the meetings and events. We look forward to the opportunities that this association can provide. Through this partnership, and others like it, we will create a foundation for rapid growth."
]]>It was 5 a.m. when he heard somebody banging on his window from the darkness outside.
Dan Cummings, the community development director in Ontario, Ore., a city of roughly 11,000 people in the eastern part of the state, had spent some early mornings at his office in the days leading up to that clatter.
Earlier that week, in November 2018, Ontario voters overturned the city’s ban on cannabis sales, with 56.8% of 3,383 balloters showing their support for a local measure that would impose a 3% tax on adult-use retail.
Four years earlier, when Oregonians approved Measure 91 to legalize cannabis cultivation and adult-use statewide during the 2014 general election, residents in Malheur County, where Ontario is located, were on the other side, voting 68.3% against that measure. Under the state law, counties and cities that opposed the measure by at least 60% had the option to outlaw cannabis legalization in their municipalities. The Ontario City Council did just that when its members voted to prohibit cannabis retail in 2015.
But when a citizen-led petition gathered enough signatures to get a new pro-cannabis retail measure added to the Ontario ballot in 2018, Cummings said he started writing community development codes ahead of time in case voters lifted the ban. A couple statutes he wanted to establish included a licensing and permit program for dispensaries as well as 1,000-foot buffer zones between fellow retailers and between a retailer and schools, city parks and residential areas. In addition, potential dispensary owners had to show proof they owned property that met those buffer-zone parameters before receiving city permits.
In allowing a lawsuit challenging the constitutionality of the state-passed ballot measure to proceed through an executive order, Gov. Kristi Noem opened the door for Circuit Judge Christina Klinger to reject the voters’ will by striking down the approved adult-use amendment in a ruling she issued Feb. 8. Klinger said Amendment A violated South Dakota’s requirement that constitutional amendments be limited to just one subject.
Article XXIII of the South Dakota Constitution states: “No proposed amendment may embrace more than one subject. If more than one amendment is submitted at the same election, each amendment shall be so prepared and distinguished that it can be voted upon separately.”
In the conclusion of her ruling, Klinger said, “Amendment A is unconstitutional as it includes multiple subjects in violation of Article XXIII, and it is therefore void and has no effect. Furthermore, Amendment A is a revision as it has far-reaching effects on the basic nature of South Dakota’s governmental system. As a result, Amendment A was required to be submitted to the voters through the constitutional convention process set forth in Article XXIII.”
The measure in question, Amendment A, read on the state ballot: “An Amendment to the South Dakota Constitution to legalize, regulate and tax marijuana; and to require the legislature to pass laws regarding hemp as well as laws ensuing access to marijuana for medical use.”
Voters approved Amendment A with 54.2% showing their support. Measure 26, the medical cannabis program ballot measure, also passed with 69.9% in favor.
“More than 12 years ago we were the first to provide a commercial greenhouse project with water-cooled LED lights,” Oreon Sales Director Jan Mol said. “Last year, we launched the first 1,000W LED fixture. Oreon is constantly innovating and is always looking for new ways to improve the fixture and we have succeeded again. Thanks to the water-cooling technology, we cannot only get an extremely high light output, but we also guarantee a consistent light output over a longer period of time. Our LED fixtures have a long lifespan: L90 B05 - 50,000 hours, which means that a water-cooled LED fixture can retain more than 90% of its light output in at least 95% of the fixtures after 50,000 hours.”
Mol added: “Every greenhouse, every grower, every cultivation strategy and light requirement is different. In addition, the crop, grow area and height of the greenhouse influence the number of fixtures and thus the investment. You cannot make one standard lighting plan; everything is custom made. That is why we can now offer three variants of the Monarch.”
For crops that require high light intensities, such as roses and cannabis, the new high efficiency variant with 3,700 µmol/s is extremely suitable. This has a narrow beam radiation of 120° and can therefore also be used in high-tech greenhouses, for lettuce as example. Thanks to the high light output, fewer fixtures are needed and, due to the very high efficiency, significant savings can be made on energy costs.
No two situations are the same. That is why there is now also a narrow-beam version with a lower output (3,471 µmol/s) and efficiency (3.4 µmol/J). We look at the best option by means of a tailor-made lighting plan. The grower can decide whether he or she is going for a lower one-off investment or a saving in energy costs in the longer term.
The Monarch with wide-beam optics (3,506 µmol/s and 3.5 µmol/J) is suitable for the illumination of high-wire crops such as tomatoes and cucumbers. The crop grows closer to the top of the greenhouse and therefore a wide radiation (140°) is desired in order to evenly illuminate the largest surface as possible. This Monarch is also a good option for traditional lower greenhouses. Since it is a 1,000W LED fixture, traditional HPS lighting can be replaced one-on-one (using the same cabling). For the grower, this results in more light on his crop or lower power consumption with the same light intensity.
]]>Cannabis Business Times magazine (Cannabis Business Times) and Cannabis Dispensary magazine (Cannabis Dispensary) announced today the 2021 Best Cannabis Companies To Work For – Cultivation and Dispensaries categories. The February issue of Cannabis Business Times magazine features the top honorees in Cultivation, and ranking companies in both Cannabis Dispensary and Cannabis Business Times are highlighted in a series of articles online linked below.
The award program recognizes and honors the best companies across the cannabis industry that excel in creating quality workplaces for employees.
The winners for this year’s awards in the Cultivation category are:
Napa Valley Fumé, Lake County, California; The Grove, Las Vegas, Nevada; Dragonfly Wellness, Salt Lake City, Utah; ARL Healthcare (MariMed), New Bedford, Massachusetts; and Stability Cannabis, Oklahoma City, Oklahoma.The winners in the Dispensaries category are:
Texas Original Compassionate Cultivation, Austin, Texas; Velvet, Martinez, California; Dragonfly Wellness, Salt Lake City, Utah; HPC Dispensary, Port Hueneme, California; Jushi Holdings Inc., Boca Raton, Florida; JardínPremium Cannabis Dispensary, Las Vegas, Nevada; and The Grove, Las Vegas, Nevada.Leading industry publications Cannabis Business Times and Cannabis Dispensary developed the awards in partnership with the Best Companies Group (BCG), a global research organization that conducts industry-leading employee survey engagement and satisfaction surveys. Through this work, Cannabis Business Times, Cannabis Dispensary, and BCG identify and recognize the best employers in the cannabis cultivation industry and dispensary market and provide these organizations with valuable employee feedback.
Profiles of the companies that earned the distinction as one of the Best Cannabis Companies to Work For are available in the February issue of Cannabis Business Times magazine, and online at CannabisBusinessTimes.com, and CannabisDispensarymag.com.
The Wyoming legislature has proposed a new bill on smokable hemp to the senate judiciary committee for consideration, which could take effect July 1.
Senate File 90 would prohibit the sale of smokable hemp to anyone under the age of 21 and prohibits using smokable hemp in public.
An individual who knowingly or intentionally smokes a product containing hemp in public is guilty of a misdemeanor and will be charged up to $50 for the first offense, up to $100 for the second and up to $500 for the third offense, the proposed legislation states.
The legislation also proposes that a person who sells, offers, gives away or delivers smokable hemp or smokable hemp products to a person under the age of 21 is guilty of a misdemeanor punishable by fines up to $250 for the first offense, $500 for a second violation within 24 months and $750.00 for a third or subsequent violation committed within 24 months.
In addition, the legislation also states that the court may allow the defendant to perform community service and be granted $10 for each hour of work performed under the first and second violation and $5 per hour under the third violation. The pay will be credited to the defendant's fine and court costs.
Retailers who knowingly sell, offer, give away or distribute smokable hemp or smokable hemp products to a person under the age of 21 will be charged with the same fines but will not have the option to perform community service.
Legalizing cannabis is expected to generate more than $165 million annually in the state, beginning in the second year of the biennium, according to the statement. Under the governor’s proposal, that money would increase revenue, create jobs and reduce costs associated with the state’s criminal justice system.
The proposal also includes legalizing medical cannabis, which would provide a pathway for those suffering from chronic or debilitating pain and illness to utilize the medicine they require, the statement said.
“Legalizing and taxing marijuana in Wisconsin—just like we do already with alcohol—ensures a controlled market and safe product are available for both recreational and medicinal users and can open the door for countless opportunities for us to reinvest in our communities and create a more equitable state,” Evers said. “Frankly, red and blue states across the country have moved forward with legalization and there is no reason Wisconsin should be left behind when we know it’s supported by a majority of Wisconsinites.”
In 2019, a Marquette University Law Poll found that 59% of Wisconsin voters supported adult-use legalization and 83% supported legalizing medical cannabis with a doctor’s prescription.
Under the governor’s new proposal, Wisconsin would join 15 other states, including neighboring Michigan and Illinois, in legalizing adult-use cannabis. But when Evers proposed decriminalizing adult-use cannabis and legalizing medical cannabis two years ago, it was rejected by the state’s Republican-controlled legislature. The democratic executive faces the same challenge with his most recent proposal.
This week, the West Virginia Office of Medical Cannabis announced the winners of the state’s medical cannabis dispensary licenses. Elsewhere, in California, the Office of Administrative Law approved proposed emergency regulations to allow cannabis businesses to access banking services.
Here, we’ve rounded up the top 10 headlines you need to know before this week is over.
West Virginia: The Office of Medical Cannabis (OMC) announced the winners of the state’s medical cannabis dispensary licenses this week. Patient registration opened shortly after, on Feb. 3. Read moreNew Jersey: The New Jersey Assembly Community Development and Affairs Committee has voted to advance a new adult-use compromise bill, lawmakers’ second attempt to pass an adult-use implementation bill that Gov. Phil Murphy will sign into law. Murphy refused to sign an earlier version of adult-use legislation until lawmakers added penalties for underage cannabis use, but that attempt at a “cleanup bill” fell apart when Black lawmakers voiced opposition to the proposal, arguing that the penalties outlined in the legislation would disproportionately impact minorities. Read moreIdaho: Lawmakers have voted to advance a joint resolution that would implement a constitutional ban on cannabis. The proposed constitutional amendment would ban all psychoactive drugs that are not already legal in Idaho, but the list of banned substances could be adjusted if drugs are approved by the U.S. Food and Drug Administration. Read moreMinnesota: House Majority Leader Ryan Winkler reintroduced an adult-use cannabis legalization bill alongside other Democrat lawmakers Feb. 1. Winkler’s proposal would expunge past cannabis convictions; direct funds to public health awareness campaigns, youth access prevention and substance abuse treatment; provide grants, loans, technical assistance and training for businesses; require the testing and labeling of medical cannabis products; place restrictions on product packaging based on dosage size; and allow home cultivation. Read moreVirginia: An adult-use legalization bill is moving through the Virginia Legislature, with the Senate Judiciary Committee voting to advance the legislation this week. S.B. 1406, which is sponsored by Sen. Adam Ebbin and backed by Gov. Ralph Northam, would legalize the production, sale and use of cannabis for adults 21 and older. Read morePennsylvania: Gov. Tom Wolf included adult-use cannabis legalization in his state budget proposal Feb. 3. Wolf’s call for legalization is part of a broader plan to combat the economic fallout from the COVID-19 pandemic, and follows a similar legalization push he made last summer. Read moreIllinois: Rep. La Shawn Ford is renewing a push to create new cannabis retail licenses in the wake of a controversial licensing process aimed at issuing 75 dispensary licenses in the state. Ford introduced legislation Feb. 3 that would create up to 110 additional retail licenses, and expects the bill to be called in the House later this month. Read moreCalifornia: The Office of Administrative Law (OAL) approved the proposed emergency regulations to implement processes for cannabis businesses to authorize release of information to financial institutions. The adopted regulations are intended to facilitate greater access to financial services for licensed cannabis businesses that face challenges obtaining banking, insurance and other financial services commonly available to other businesses. Read moreNew Mexico: Four legalization bills have been introduced in the New Mexico Legislature to date—two in the Senate and two in the House. The New Mexico Legislature is just about halfway through its 60-day legislative session. Read moreSouth Dakota: Rep. Mike Derby and Sen. Brock Greenfield filed legislation Feb. 3 that would implement the state’s adult-use cannabis program, which voters approved in the 2020 election. H.B. 1225 includes a provision that would void the proposed laws if Amendment A, the voter-approved ballot initiative, gets overturned in a pending lawsuit. Read moreIndiana Rep. Vanessa Summers has introduced legislation to legalize adult-use cannabis in the state, according to a local WTWO/WAWV report.
The bill, H.B. 1154, would create a cannabis regulatory agency to license adult-use businesses and regulate the industry, the news outlet reported.
The legislation shares several similarities with Illinois’ Cannabis Regulation and Tax Act, according to WTWO/WAWV, including an expungement process that would allow those with past cannabis-related convictions to clear their records.
Summers’ legislation has been referred to the House Committee on Courts and Criminal Code, the news outlet reported.
In the Senate, Sen. Karen Tallian has introduced additional cannabis legalization bills, including S.B. 87 to regulate cannabis and hemp and S.B. 223 to decriminalize the possession of up to 2 ounces of cannabis.
South Dakota Rep. Mike Derby (R-Rapid City) and Sen. Brock Greenfield (R-Clark) filed legislation Feb. 3 that would implement the state’s adult-use cannabis program, which voters approved in the 2020 election, according to a KELO report.
H.B. 1225 includes a provision that would void the proposed laws if Amendment A, the voter-approved ballot initiative, gets overturned in a pending lawsuit, the news outlet reported.
Pennington County Sheriff Kevin Thom and South Dakota Highway Patrol Col. Rick Miller filed the lawsuit challenging Amendment A in November, arguing that it violates the state’s one-subject rule, as well as the amendments and revisions article of the South Dakota Constitution.
Gov. Kristi Noem then issued an executive order in January that allowed the legal challenge to proceed and asked the court to invalidate the election results.
Judge Christina Klinger heard arguments in the case last week, KELO reported.
Hawaii lawmakers are considering multiple adult-use cannabis legalization proposals this year, according to the Hawaii Tribune-Herald.
H.B. 7, sponsored by Reps. Jeanne Kapela (D-South Kona, Ka’u), Nicole Lowen (D-North Kona), Mark Nakashima (D-Hamakua, Hilo) and Richard Onishi (D-Hilo), aims to legalize the personal use, possession and sale of cannabis for adults 21 and older, the news outlet reported. The legislation would also create a system for licensing cannabis businesses, as well as levy an excise tax on adult-use sales.
Kapela, along with Reps. David Tarnas (D-North Kona/South and North Kohala) and Chris Todd (D-Hilo), have also introduced H.B. 238, a separate adult-use legalization measure that goes a step further to allocate an unspecified percentage of excise tax revenues for Hawaii’s counties, according to the Hawaii Tribune-Herald.
In the Senate, lawmakers have introduced S.B. 704, which also aims to legalize adult-use cannabis and establish a commercial marketplace with licensed businesses, which would be subject to excise taxes, the news outlet reported.
Also pending in the Senate are three cannabis decriminalization bills, according to the Hawaii Tribune-Herald. S.B. 47 would decriminalize the possession of up to 1 ounce of cannabis or up to one-eighth of cannabis concentrate, and would eliminate the penalty for transferring up to 1 ounce of cannabis or up to 5 grams of cannabis concentrate to adults 21 and older.
Maryland Senate Finance Committee Vice Chair Brian Feldman (D-Montgomery) has introduced a new adult-use cannabis legalization bill that is backed by Senate President Bill Ferguson (D-Baltimore City), according to a Maryland Matters report.
The bill, S.B. 708, is also co-sponsored by Senate Majority Leader Nancy J. King (D-Montgomery), Budget and Taxation Chair Guy J. Guzzone (D-Howard), Judicial Proceedings Committee Chair William C. Smith Jr. (D-Montgomery) and Vice Chair Jeffrey D. Waldstreicher (D-Montgomery).
The legislation would not only legalize adult-use cannabis and tax and regulate its sale, but would also direct funding to communities disproportionately impacted by prohibition, Maryland Matters reported.
Maryland’s existing medical cannabis businesses would be required to pay fees into a social equity fund, which would be used for low-interest loans to help minority businesses participate in the industry, according to the news outlet.
In addition, the legislation earmarks a portion of the tax revenue generated from adult-use sales to a Community Reinvestment and Repair Fund, which would provide housing assistance, scholarship aid, re-entry programs and other programs in communities disproportionately impacted by the war on drugs, Maryland Matters reported.
After a failed attempt to legalize adult-use cannabis last year, the New Mexico Legislature is once again taking up the issue, this time placing a greater emphasis on social equity.
RELATED: New Mexico Lawmakers Introduce Competing Adult-Use Cannabis Legalization Proposals
Four legalization bills have been introduced in the legislature to date—two in the Senate and two in the House. Lawmakers are essentially considering three different versions of legalization proposals, as one of the Senate bills is identical to the House version.
“They all have some similarities, but there’s really only one that truly centers [on] equity and social justice, and that is of critical importance to Drug Policy Alliance, but even more so to the communities in New Mexico that have been harmed by prohibitionist policies,” Emily Kaltenbach, senior director of resident states and New Mexico for Drug Policy Alliance, told Cannabis Business Times and Cannabis Dispensary.
That bill, Kaltenbach said, is House Bill 12, sponsored by Reps. Javier Martinez and Andrea Romero.
PRESS RELEASE - The Office of Administrative Law (OAL) approved the proposed emergency regulations, 2021-0122-01E, to implement processes for cannabis businesses to authorize release of information to financial institutions.
Text of the Adopted CDFA Regulations
The regulations were filed with the Secretary of State on Feb. 1, 2021, and are now in effect.
The state cannabis licensing authorities have developed two forms to implement these regulations. The same forms are being used by all three state cannabis licensing authorities, streamlining the process for licensees and financial institutions:
Licensee Authorization for Release of Information Form - This form may be used by licensees to authorize a financial institution to receive information or to withdraw a previously provided authorization.Financial Institution Request Form - This form may be used by a financial institution to request licensee information after the licensee has provided authorization.Completed forms should be sent via email to [email protected] or by mail at the following address:
Illinois Rep. La Shawn Ford (D-Chicago) is renewing a push to create new cannabis retail licenses in the wake of a controversial licensing process aimed at issuing 75 dispensary licenses in the state, according to The Chicago Sun-Times.
Ford introduced legislation Feb. 3 that would create up to 110 additional retail licenses, the news outlet reported.
The Illinois Senate approved a similar bill last month that would have created a new lottery for 75 additional dispensary licenses, but the House did not call the legislation for a vote before the lame duck session ended, The Chicago Sun-Times reported.
The awarding of the 75 original cannabis retail licenses has been delayed and held up in legal disputes since regulators announced in September that only 21 social equity applicants would be included in a lottery to win the licenses.
Ford’s bill would allow the lottery for the original 75 licenses to take place once unsuccessful applicants amend and resubmit their applications under a process outlined by Gov. J.B. Pritzker in an attempt to include more applicants in the lottery.
Pennsylvania Gov. Tom Wolf included adult-use cannabis legalization in his state budget proposal Feb. 3, according to a local WNEP report.
Wolf’s call for legalization is part of a broader plan to combat the economic fallout from the COVID-19 pandemic, and follows a similar legalization push he made last summer.
Pennsylvania’s state budget must be approved by the end of June, WNEP reported.
The Mississippi State Department of Health confirmed during a Feb. 3 meeting that regulations for the state’s medical cannabis program will be in place by a July 1 deadline outlined in the ballot initiative that legalized medical cannabis in the state, according to an AP News report.
Mississippi voters approved Initiative 65 on Election Day, allowing patients with one of 22 qualifying conditions to access medical cannabis.
The initiative sets an Aug. 15 deadline for the state to start issuing cannabis business licenses and patient ID cards, AP News reported.
The State Department of Health said it could take months beyond that time for medical cannabis products to reach patients, according to the news outlet, as cultivators get their operations up and running and product undergoes testing before hitting dispensary shelves.
Meanwhile, the Mississippi Supreme Court is set to hear oral arguments in a lawsuit filed by Madison Mayor Mary Hawkins Butler challenging the initiative process that legalized the state’s medical cannabis program.
Willie Nelson’s cannabis brand, Willie’s Reserve, has hit the Arizona market through a recently announced partnership with Hana Meds, an Arizona-based vertically integrated cannabis company.
Willie’s Reserve is a national cannabis brand inspired by cannabis activist and American music legend Willie Nelson. The brand focuses on various cannabis products like pre-rolls, flower, vape cartridges and more.
Hana Meds is processing, packaging and distributing Willie’s Reserve pre-rolls across Hana Meds’ retail locations in Kingman and Green Valley, Ariz., and at its wholesale customer locations, Giving Tree Dispensary in Phoenix and MedMen Scottsdale, said Matt Pinchera, Hana Meds president.
“We are starting off with launching pre-rolls only, and then we’ll look at other products as it makes sense,” he said. “We definitely want to expand the product line, but right now, we’re focusing on the pre-rolls first.”
Hana Meds eventually hopes to expand the number of dispensaries the product is sold in, he said.
“We are in the process of ramping up production, so, hopefully, we’ll be able to expand the wholesale customers as we expand our production capabilities,” he said. “We’ve got two dispensaries who partnered with us to launch the brand and want to make sure that we keep them in stock of a product. So, you know, we don’t want to expand too quickly. It really needs to be tied to our production increases.”
In a blockbuster deal to kick off the 2021 international cannabis M&A season, Jazz Pharmaceuticals has inked a deal to acquire GW Pharmaceuticals, manufacturer of the FDA- and DEA-approved Epidiolex, to the tune of $7.2 billion. As Bloomberg noted, GW’s stock skyrocketed about 46% Wednesday morning as the headlines hit the wires.
The transaction maintains a spotlight on the pharmaceutical side of the international cannabis market.
“Jazz Pharma’s acquisition of GW Pharma, at a significant premium, demonstrates that pharmaceutical companies are recognizing the value and future potential of cannabinoid based medicines,” said Jason Wilson, cannabis and banking expert at ETF Managers Group, the issuer of $MJ. “It is also another example that the cannabis industry is continuing to normalize and evolve beyond the traditional cultivation of flower, with potential well outside of our borders. For investors, the acquisition of GW Pharma is another reminder that investing in cannabis touches many verticals globally, requiring a diverse approach beyond traditional cannabis cultivation companies.”
RELATED: DEA Greenlights Epidiolex. What’s Next for CBD and the Cannabis Industry?
So, who is Jazz Pharmaceuticals? From the team at Bloomberg: “Jazz has an array of medications for cancer and other conditions and diseases, but is best known for its high-priced narcolepsy treatment Xyrem, which had sales of $1.64 billion in 2019. However, with the drug due to lose exclusivity soon, revenue from it was expected to peak at $1.75 billion in 2020, according to analyst estimates compiled by Bloomberg.” The company is based in Ireland.
The cost to Jazz will be borne by a mix of cash and debt financing. For GW Pharma shareholders, the transaction will deliver $200 in cash plus $20 in Jazz stock per share.
