MjLink Cannabis Business News and Press

The opportunity to legalize medical cannabis in Mississippi will be presented to voters in November.

Mississippians for Compassionate Care submitted roughly 106,000 signatures in September to place an initiative on the ballot. Only 86,000 were required.

The secretary of state’s office certified the signatures as Ballot Initiative 65, according to a Clarion Ledger report, and the initiative was formally filed with the state legislature Jan. 7.

If passed, the ballot measure would allow doctors to prescribe cannabis for certain medical conditions, including cancer, epilepsy, Parkinson’s disease and multiple sclerosis, the Clarion Ledger reported. The Mississippi Department of Health would be responsible for regulating and overseeing the program.

Iowa’s 2020 legislative session is set to kick off next week, and lawmakers are again considering legislation that would lift the state’s 3% THC limit on medical cannabis products.

The legislature passed similar legislation last year that would have replaced the THC limit with a rule that patients could purchase 25 grams of THC over 90 days, but the bill conflicted with recommendations from the Iowa Medical Cannabidiol Advisory Board, according to The Courier, and Gov. Kim Reynolds ultimately vetoed it.

Wendy Zadeh, a neurologist from Des Moines, even resigned from the board upon the bill’s passage in the House, The Courier reported.

Reynolds has indicated that she supported the other provisions included in last year's legislation, which incorporated recommendations from the board that a pharmacist be on staff at the state’s five licensed dispensaries, and that physician assistants and nurse practitioners should be allowed to recommend patients for the program, according to the news outlet.

In its latest report to lawmakers, the board recommended replacing the 3% THC cap with a limit of 4.5 grams of THC over 90 days, The Courier reported, although the purchase limit would not apply to the terminally ill and could be increased by the certifying health care professional.

Travelers at either of Chicago’s airports may have noticed something new while passing through security after the holidays.

The bright blue cannabis amnesty boxes were installed at the end of every TSA checkpoint at O’Hare and Midway airports after weed was legalized on Jan. 1.

The boxes are owned by the Department of Aviation, but serviced by the Chicago Police Department, said Maggie Huynh, a CPD spokesperson.

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Alice Bazerghi ~ Chicago Sun Times ~ 

The director of the National Institute of Health explained that federal laws make it very hard to study marijuana in the U.S.

One of the main reasons why cannabis has taken so long to be absorbed into the mainstream is ignorance.

Not only from people who refuse to budge on their outdated opinions, but because that even after the drug became legal in several states, marijuana and its compounds remain a mystery.

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Maria Loreto ~ TheFreshToast.com ~

Tax revenue has continued to rise, helping to fund public service programs and the state’s general fund, but the Fed report’s authors write that experts don’t anticipate the rate of that growth can be sustained in the long-term if sales continue to steady.

The Federal Reserve Bank Of Kansas City recently issued a report looking at Colorado’s marijuana market, ultimately concluding that the cannabis industry is primed to continue to grow as public support for legalization increases, although perhaps not quite at the rate seen in the early years of the policy change’s implementation.

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Kyle Jaeger ~ MarijuanaMoment.net ~ 

Cannabis is widely considered a medical plant because of the many significant health benefits it brings. It has long been used for medicinal purposes worldwide, and has become a very popular trend in the United States, which has resulted in its legalization in more than 30 states. Internationally, more and more countries have legalized cannabis Read the full article...

Tennessee Sen. Janice Bowling (R-Tullahoma) has reintroduced a bill this legislative session that would legalize medical cannabis in the state.

The legislation would allow qualified patients to access medical cannabis, and would establish a licensing process for businesses to grow, distribute, transport and sell cannabis for both medical use and scientific research, according to a local WKRN report.

“There are tens of thousands or hundreds of thousands of Tennesseans that could benefit from medical cannabis,” Bowling told the news outlet. “This is desperately needed in Tennessee, it is desperately needed by the patient, and doctors need an alternative from opioids.”

Bowling will hold a meeting Jan. 9 to allow law enforcement to weigh in on medical cannabis legalization, WKRN reported.

Bowling introduced similar legislation last year, but the bill ultimately stalled in the legislature.

The New Hampshire House passed a pair of bills Jan. 8 that would expand the state’s medical cannabis program and increase patient access.

Lawmakers voted to add insomnia and opioid use disorder to New Hampshire’s list of qualifying conditions, according to an AP News report.

Patients seeking medical cannabis as a treatment for opioid use disorder would face additional restrictions under the legislation, the news outlet reported, including a requirement that certifying medical professionals have specialized knowledge in addiction treatment.

Earlier iterations of the legislation included the addition of Lyme disease, but that provision was later removed, AP News reported.

The New Hampshire Senate voted against a more expansive bill Jan. 8 that would have made medical cannabis available for any condition that a medical provider determined could be helped by the substance, according to the news outlet.

FSD Pharma, a Toronto-based biotech pharmaceutical R&D company, garnered a Nasdaq uplisting this winter and began trading on the U.S. market Jan. 9. With that, the company joined 11 other Canadian cannabis businesses that now trade on either the Nasdaq or the New York Stock Exchange (NYSE).

Here’s the list, as of January 2020:

Innovative Industrial Properties: December 2016, NYSE

Cronos Group: February 2018, Nasdaq

Canopy Growth Corp.: May 2018, NYSE

Tilray: July 2018, Nasdaq

FSD Pharma begins trading on the NASDAQ Jan. 9 in a move that CEO Dr. Raza Bokhari calls a strategic advantage for the Toronto-based biotech pharmaceutical R&D company.

The stock will trade under the symbol “HUGE,” and the listing places FSD Pharma in a group of 12 Canadian cannabis companies that have commenced trading on the NYSE or NASDAQ.

This milestone also makes FSD Pharma the first company in the history of the Canadian Securities Exchange (CSE) to be dual listed on a major U.S. exchange.

“To list on the immediate exchange is important,” Bokhari told Cannabis Business Times. “That is how you become the company that has more ability. The United States exchanges are the most active and where the most amount of capital changes hands. So, you want to be in the big ocean.”

The company’s shares will continue to be listed on the CSE under the symbol “HUGE.”

The Illinois Department of Agriculture (IDOA) has released the applications for Cannabis Infuser, Transporter and Craft Grower licenses, and will begin accepting completed applications Feb. 14, according to a local WGEM report.

There is a $5,000 non-refundable application fee for all licenses, the news outlet reported, and the companies ultimately awarded licenses will have an annual licensing fee of $5,000 for an Infuser, $10,000 for a Transporter and $40,000 for a Craft Grower.

This round of licensing also includes social equity applicants, the news outlet reported. Those who qualify under the state’s social equity program will receive additional points on their applications and are eligible for technical assistance, grants and low-interest loans, as well as fee reductions and waivers.

IDOA will partner with the Illinois Department of Commerce and Economic Opportunity to host informational workshops across the state to assist applicants, WGEM reported.

All Cannabis Infuser, Transporter and Craft Grower license applications must be submitted to IDOA by 5 p.m. CST on March 16. IDOA can issue up to 40 Craft Grower and 40 Infuser licenses in 2020, according to WGEM, as well as an unlimited number of Transporter licenses.

Florida Rep. Shevrin Jones (D-West Park) is backing legislation that would reduce criminal penalties for the possession of certain amounts of cannabis and make first-time minor offenders eligible for civil citations or diversion programs, according to WFTS, a local ABC News affiliate.

Under current law, the possession of 20 grams or less of cannabis is a first-degree misdemeanor, the news outlet reported, but many Florida cities and counties have granted law enforcement the option to issue a civil citation for the possession of 20 grams or less.

Jones aims to create a more uniform approach with his bill.

“We have a chance to be consistent with what counties and cities are doing to ensure that we are doing everything we can to unclog our criminal justice system,” Jones told WFTS.

State lawmakers reconvene Jan. 14 to kick off the 2020 legislative session.

The pain of defeat Browns fans experience over and over again can sometimes be too much bear.

According to the State Medical Board of Ohio, someone submitted a petition to add "Bengals/Browns Fans" as a qualifying condition under the Ohio Medical Marijuana Control Program.

During the 2019 petition window from Nov.1 through Dec. 31, the board received 28 petitions for potential new qualifying conditions.

Marked as No. 10 on the list, “Bengals/Browns Fans” was listed as a condition that should be considered.

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Banks are in the business of making money, and the medical marijuana industry is expected to generate a lot of it.

Robbie Guard sees a green opportunity in Missouri’s newest industry — medical marijuana.

He runs the Cape Girardeau office for MRV Banks. The 13-year-old institution has just three locations along the Missouri side of the Mississippi River.

As a relatively young bank with a small footprint, it struggles to bring in new accounts. Guard hopes the newly legal medical marijuana industry will change that.

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At the turn of the new year, a team of Italian scientists announced the discovery of two new cannabinoids found in marijuana.

Although exactly what the compounds do and how they affect the human body largely remain a mystery, the researchers say their findings add to our understanding of the “controversial plant” and highlights just how much remains to be discovered.

Tetrahydrocannabiphorol (THCP) has roughly the same structure as tetrahydrocannabinol (THC) – the main compound in marijuana responsible for its psychoactive properties – but is reportedly 30 times more potent than the well-known compound.

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Madison Dapcevich ~ IFLScience.com ~ 

Heading in to the first day of adult-use cannabis sales in Illinois Jan. 1, the team at Illinois Supply & Provisions estimated that they would have five to 10 times more customers than a typical day at their two dispensaries, which were founded under the previous state medical program four years ago.  

The crowd was even larger than anticipated, as nearly 3,000 eager consumers from places as far as Kentucky, Oregon and Florida stood in line starting before sunrise and past sunset on Jan. 1, some waiting as long as five hours, says Kim Kiefer, chief retail officer for Ascend Wellness Holdings. Ascend, the parent company of Illinois Supply & Provisions, also operates retail and production facilities in Ohio, Massachusetts and New Jersey.

“You have to be overprepared because you really don’t know what’s going to happen. We knew that there were going to be long lines, so we did everything we could to entertain folks. We had food trucks, we had a DJ, we handed out coffee and we had hand warmers,” Kiefer says, adding that 30-degree temperatures did not deter the enthusiastic patrons. “That first day, thee customers were absolutely amazing and had a great attitude. I just think everybody wanted to be part of the moment.”

Kiefer was on site at the Collinsville location, 15 miles outside of St. Louis, and met with customers who were anywhere from 21 to 80 years old. 

“It felt historic. What surprised me about the day is how amazing the customers were and how excited they were about … the end of prohibition,” she says. “Some people waited in line for five hours just to buy one item, but they just wanted to be a part of it.”   

Other dispensaries reported similar traffic — statewide, more than 77,000 transactions resulted in nearly $3.2 million in sales, according to the Illinois Department of Financial and Professional Regulation. At the end of day 2, Illinois Supply & Provisions reported 5,200 customers total at the Collinsville facility and their second location in Springfield.

CLEVELAND, OH/LAS VEGAS, NV – (January 7, 2020) – Cannabis Conference 2020 presented by Cannabis Business Times, Cannabis Dispensary, and Hemp Grower, announced today that actor and celebrity cannabis business owner Jim Belushi will keynote this year’s conference program. The three-day event will be held at the Paris Hotel and Casino in Las Vegas, Nev., April 21-23, 2020.

Belushi, known for his numerous film, television and musical performances, including the popular sitcom “According to Jim,” will share his experiences as the owner and operator of the ninety-three acre Belushi’s Farm, which he which he began developing in 2015 under the Oregon Medical Marijuana Program (OMMP). 

“Every time I cultivate the land, I get pulled more and more into the medicine and the joy of this work,” says Belushi. “My experience has truly changed me as a man, and I’m looking forward to sharing what I have learned from my amazing journey with this year’s Cannabis Conference attendees.”  

“We are thrilled to have Jim Belushi keynote our Cannabis Conference 2020,” says Noelle Skodzinski, editorial director for Cannabis Conference, and Cannabis Business Times, Cannabis Dispensary and Hemp Grower magazines. “His passion for the plant, as well as for the health and economic potential it holds for society is aligned with so many of our attendees and with our mission. Our audience of plant-touching-business owners and operators will surely benefit from his experiences growing cannabis in the Oregon market, his plans and hopes for the future, as well as his wisdom and humor.”

The Cannabis Conference 2020 is expected to draw over 3,000 attendees from 40 countries worldwide and bring together dozens of the industry’s leading voices to address the biggest opportunities and challenges facing the legal cannabis market.

Among this year’s speakers include respected industry leaders and experts: Dan Sutton, CEO/founder, Tantalus Labs; Sjoerd Broeks, genetic development/R&D director, THE PHARM; David Bernard-Perron, VP of growing operations, The Green Organic Dutchman (TGOD); Dr. Janna Beckerman, professor and extension plant pathologist, Purdue University; Dr. Brian Whipker, professor of Floriculture, North Carolina State University; Scottie Gordon, vice president of licensing & regulatory affairs, Curaleaf, Inc.; Anna Shreeve, president of Urban Paragon Inc., Targeted Intent Inc., and The Bakeréé; Priscilla Vilchis, CEO/CMO, Premium Produce; Andrew R. Graves, chairman, Atalo Holdings Inc.; and Claudio Miranda, Co-Founder, Guild Enterprises. A full list of this year’s confirmed speakers and presenters can be found here: https://www.cannabisconference.com/speakers.  

TORONTO, Jan. 6, 2020 /CNW/ - PRESS RELEASE - SLANG Worldwide Inc., a cannabis consumer packaged goods company with a portfolio of brands distributed in over 2,600 stores across the United States, has announced that it is expanding into the Ohio medical cannabis market by the entering into of a licensing agreement with Standard Wellness Company, LLC.

Pursuant to the licensing agreement, Standard Wellness has been granted an exclusive license to produce and distribute the SLANG product suite in Ohio, beginning with its O.penVAPE, Pressies, Bakked and District Edibles brands. SLANG will derive revenue for each branded product sold in the state, with sales expected to commence in 2020.

"We strive to create brand awareness early and establish relationships with consumers in attractive, new cannabis markets," said SLANG CEO Peter Miller. "Our discipline around capital efficiency makes partnerships like this very strategic in achieving our near and long-term goals for brand awareness, while giving our partners a competitive advantage and a running start in their markets."

Standard Wellness was Ohio's first vertically integrated licensed cannabis producer. Its cultivation and processing facility is located in Gibsonburg, Ohio, and it currently distributes products to every medical cannabis dispensary in the state.

"Our strategy is to partner with leading brands to bring the finest quality cannabis products to patients in Ohio and empower them to lead healthy and rewarding lives," said Standard Wellness CEO Jared Maloof. "Our agreement with SLANG will enable us to diversify our product portfolio with recognized brands and help fuel our continued growth."

Each year, more U.S. states are legalizing adult-use cannabis sales and opening new markets for growing businesses to engage. But what about the international scene? We may be a long way off from international cannabis commerce—in any meaningful way for a high-demand agricultural crop like Cannabis sativa L. and its chemical compounds. But, like everything else in the cannabis industry, the future tends to come pretty fast.

We spoke with Mojave Richmond, a founding member of BioAgronomics Group, who helped us think about how to consider the global cannabis marketplace from the vantage point of a business in the U.S. What should the savvy business owner be thinking about as cannabis markets begin to gel around the world? What would international commerce really look like?

Cannabis Business Times: What sorts of high-level trends are you keeping an eye on outside of the U.S.?

Mojave Richmond: Variety development is something that I'm focused most on, in that the CBD market has created an API-driven production model. The flower market is still tied to specific varieties and which varieties work for which particular regions, and understanding which particular markets seems to be the holy grail of figuring out the cannabis supply chain. Especially once international commerce is in full swing, it's going to be a matter of [knowing] which varieties produce which compounds for which markets at the most affordable cost and with the least impact.

In other agricultural commodities, the farmer generally wants to know what the market is for that crop. With cannabis, we've got the issue of having so many different varieties on the market that picking the right one really dictates your success rate. Here in California, we're definitely seeing that already: where fairly large groups might attach themselves to a particular set of varieties, and the success on sales really depends on whether they're competitive with someone who produced it at a lower cost.

CBT: How much should smaller growers be thinking about things like competition in international markets?

MR: Well, following trends is key. Most of the varieties available in the international market today were developed in California for the California market. So, understanding where these critical “petri dish” markets are that really dictate what the consumer desires is going to be critical.

Growing cannabis outdoors has its advantages, such as the use of sunlight and the natural development of robust terpene profiles as plants respond to stressors such as weather and insects. However, those looking to launch or optimize a sungrown cannabis operation should implement regular maintenance and best practices to ensure maximum quality and yield.

Here,  Jade Stefano, co-founder and CEO of Puffin Farm, a Washington-based sungrown cannabis producer and processor, shares advice on maximizing plant health and cannabinoid and terpene profiles, as well as lessons learned from the farm’s first hemp crop.

Cannabis Business Times: What are some best practices to maximize plant health outdoors?

Jade Stefano: Best practices start with cleanliness—having clean stock, a clean environment and quality inputs and soil. If you don’t have clean stock, good soil and a healthy environment, nothing is going to work out. That’s the No. 1 thing.

That involves making sure, if you’re using clones, that the mothers are kept very healthy over the winter. We grow from clones, and you have these mothers that you have to maintain. You have to keep them going for years, so keeping it all really healthy is super important. When we take the clones, those clones are healthy, and they grow into healthy plants. We have regular maintenance schedules with the plants for cloning them, and they get sprayed with organic essential oils and various things like that, just to make sure they don’t become infected with powdery mildew over the winter. They’re very prone to that. So, stay on schedule. Make sure any beneficial insects that are used are released on schedule. Don’t wait for things to get out of control, but keep things going and healthy with maintenance and regular schedules.

[Test] your soil. We grow outdoors in native soil, so each year, we test that and make sure that the soil doesn’t become deficient in any nutrients and make sure it’s not too high in anything, as well. That can happen when fertilizers or amendments are over-applied. Soil testing is super important and should never be overlooked. You can waste tons of money putting on the wrong thing, not putting on the right thing, and soil testing is a really cheap and easy way to figure out what you need and how much of it you need to apply. If you have healthy soil, then the plants are going to be healthy.