MjLink Cannabis Business News and Press

DENVER--(BUSINESS WIRE)--PRESS RELEASE--Medicine Man Technologies Inc. has announced that the company will now be doing business as Schwazze (pronounced SHHwahZZ). The new branding reflects the company’s goal to create a dynamic, innovative culture and brand identity while supporting the current and future house of brands as Schwazze continues to grow.

Schwazze originates from the company’s proprietary cultivation technique from the Three A Light methodology, which stimulates plant growth and health. The new corporate brand Schwazze inspires a call to action to innovate, grow and nurture plants, products, experiences and environment to benefit the human experience.

“We are excited to bring this new brand to life to further realize our vision of becoming the most admired cannabis company by positively impacting the health, well-being and happiness of our customers, team members and communities,” said Shane Sampson, Chief Marketing and Merchandising Officer of Schwazze. “Last year the company set out to make major changes within the Colorado cannabis industry with Colorado House Bill 19-1090. Our new brand, Schwazze enables differentiation as a true leader across all facets of cannabis and marks the next stage of our strategic growth. After finalizing the announced acquisitions, Schwazze will be one of the largest vertically integrated cannabis operators from seed to sale. We are proud to be building a great cannabis company at Schwazze.”

The Schwazze leadership team, which includes top-tier executives from Fortune 500 companies, looks to the future of cannabis when planning what is next for the company. Schwazze is executing our strategy to bring new products and experiences to customers through scalable digital technologies, cannabinoid-based health and wellness, customer-centric retail formats and omnichannel innovation.

“As a leader in the cannabis industry, we have a responsibility to drive sustainable growth and deliver top-quality service and products to our customers,” Sampson added. “With our experienced management team and unparalleled expertise in product development, the company’s rebrand to Schwazze amplifies our purpose-driven mission to recognize the full potential of cannabis and continue promoting its ability to improve the human condition.”

Effective, Tuesday, April 21, the company will begin trading under the Schwazze name and OTC ticker symbol SHWZ.

]]>

The Greek Ministries of Development and Investments and Rural Development and Food discuss the future of Greece’s medical cannabis industry.

In 2018, the government of Greece approved the legalisation of cannabis for medical use.

Representatives of the Greek Ministry of Development and Investments and the Ministry of Rural Development and Food tell MCN about the decision to legalise, the complexities of implementing regulatory standards; and the future of Greece’s cannabis industry. 

Click here to read the complete article

Rosemary Lobley ~ HeathEuropa.eu ~ 

Medical marijuana dispensaries began popping up across Arkanasas almost a year ago. In that time, over 10,000 pounds of medical marijuana has been sold in Arkansas, according to the Department of Finance and Administration.

Overall, Arkansans have spent $63.37 million on over 10,050 pounds of medical marijuana since last May, department spokesperson Scott Hardin said.

Hot Spring's Green Springs Medical makes up a fifth of those sales, selling over 2,000 pounds as of last week, according to Hardin.

Click here to read the complete article

KATV.com ~

Portland, OR -- PRESS RELEASE -- The Oregon Liquor Control Commission (OLCC) has given the go-ahead for random testing of marijuana products for the presence of undisclosed ingredients and additives. The Commission approved the permanent rule for Audit, Compliance and Random Testing at its regular monthly meeting on April 16, 2020.

OLCC staff recommended the testing approach in the wake of the 2019 EVALI respiratory illness outbreak.  That public health crisis resulted in the hospitalizations and deaths of hundreds of people known to vape nicotine and cannabis. In Oregon, 22 people were afflicted with vaping-associated lung injuries, including two fatalities.

During the vaping crisis OLCC took the position that specific additives suspected of being contained in nicotine and cannabis vaping products were adulterants and based on existing OLCC rules should not to be contained in marijuana products. But the OLCC lacked specific authority to require random sampling and testing to detect adulterants and other contaminants in the marijuana products of licensees. The rule, which takes effect April 20, 2020, changes that. [OAR 845-025-5760]

The Commission also approved a temporary rule related to the pre-licensing inspections of recreational marijuana license applicants to align with the social distancing requirements of Gov. Kate Brown’s Executive Orders.

For the next six months the OLCC will not require an in-person inspection by OLCC staff of a proposed licensed premises. This will reduce the risk of spreading COVID-19 by limiting contact between Commission staff and license applicants. [OAR 845-025-1290]

LAS VEGAS, April 17, 2020 /CNW/ - PRESS RELEASE - Planet 13 Holdings Inc., a vertically-integrated Nevada cannabis company, has announced that following the announcement on April 13, 2020 that it had terminated a definitive agreement to acquire a cannabis sales license and lease for a dispensary in Santa Ana, Calif., from Newtonian Principles, Inc., it has renegotiated the terms of acquisition and has entered into an amendment to the initial definitive agreement.

Upon closing of the acquisition, which is expected to occur when final state and local regulatory approvals are obtained, which is forecasted to be obtained in the next one to three weeks, Planet 13 will pay Newtonian $800,000 in cash (which, along with the deposit (as defined below), results in a total cash purchase price of $1,000,000) and 3,940,932 Class A Restricted Shares in the capital of the company valued at $4.0 million. Newtonian will retain the $200,000 deposit that Planet 13 paid to Newtonion upon entering into of the initial definitive agreement. The parties have also negotiated a 25% lease abatement with the landlord,  effective during construction and until opening, reducing costs and increasing flexibility for Planet 13. The shares will be subject to a four-month and one day hold period under Canadian securities laws and following such period will be subject to a lock-up whereby 1/8 of the shares will be released from lock-up each month beginning on the date that is four months plus one day from the acquisition closing date.

This compares to the initial definitive agreement pursuant to which Planet 13 would have been required to pay an additional $5.8 million in cash and 2,039,808 Class A Restricted Shares in the capital of the company valued at $4.0 million for the acquisition.

"We've evaluated hundreds of locations in California and continue to believe that our Santa Ana location is the best suited for a Planet 13 style dispensary," said Bob Groesbeck co-CEO of Planet 13. "While we can't forecast how COVID-19 might affect our timeline, we've negotiated an agreement that reduces the upfront capital invested, gives us control over the timing of fixed costs and provides flexibility on dispensary buildout. We de-risked the transaction substantially while securing the next stage of growth for Planet 13."

If luxury THC granola, weed aperitifs, and CBD pillows couldn't make me into a stoner, nothing can.

I am not, by and large, a weed guy. Oh, I have tried, but through substantial trial and error I have determined that I lack the essential level of chill to pull the whole thing off.

For years, I've regarded the stoners in my life with awe and envy; they seem so relaxed and cheerful, while one hit off a vape pen tends to nudge me into the anxiety that is always just over my shoulder. 

Click here to read the complete 

Dave Holmes ~ Esquire.com ~ 

Mexico’s deadline to legalize cannabis has been extended to Dec. 15.

The Supreme Court accepted a request from a group of Senators on Friday to postpone the April 30 deadline to approve a law to legalize cannabis nationwide.

The bill is expected to be approved during the Senate’s next ordinary session period, which starts in September.

Click here to read the complete article

Alfredo Pascual ~ MJBizDaily.com ~ 

Nothing exemplifies the growth and change in the legal cannabis industry quite like extraction, the process of stripping the plant of cannabinoids such as THC and CBD, as well as all the smelly stuff.

The word "hash" is a rare one in legal weed nowadays, supplanted by terms like "sugar wax," "live resin," "terpene sauce" and "rosin."

Since there was essentially only one form of hash a little more than a decade ago, there was no need to differentiate.

Click here to read the complete article

Thomas Mitchell ~ Westword.com ~ 

U.S. cannabis CEOs say the chances for federal marijuana legalization will dramatically increase in the wake of the coronavirus pandemic, after several states declared dispensaries essential businesses, allowing them to remain open during stay-at-home orders aimed at halting the spread of the virus.

CNBC spoke with the leaders of U.S. based cannabis producers Cresco Labs, Curaleaf, and Green Thumb Industries as well as cannabis investor Matt Hawkins about the state of the industry ahead of April 20, also known as “4/20,” the unofficial holiday for recreational cannabis users.

Click here to read the complete article

Frank Holland ~ CNBC.com ~ 

Mexico’s Supreme Court has extended an April 30 deadline for lawmakers to draft legislation to legalize and regulate cannabis for medical, adult and industrial uses, as first reported by Politico.mx.

Lawmakers now have until Dec. 15, the end of the next legislative session, to approve legislation to end cannabis prohibition, according to Marijuana Moment.

Mexico’s Supreme Court ruled last year that an absolute ban on adult-use cannabis was unconstitutional, which forced lawmakers to regulate it at the federal level.

The Senate considered legislation last year to legalize and regulate cannabis, but lawmakers missed a Supreme Court-imposed deadline to pass the bill by the end of October, which prompted the deadline extension to April 30.

Senators asked the Supreme Court last month to extend the deadline again due to the COVID-19 pandemic, which has caused Mexico to suspend many legislative procedures.

Cannabis retail applicants are suing Los Angeles, arguing that the city’s controversial process to award its latest round of dispensary licenses was “flawed,” according to a Los Angeles Times report.

The Social Equity Owners and Workers Association and one of its members filed the lawsuit to force the city to vet all the dispensary applications it received last fall under its first-come, first-served process, which has been met with backlash. Alternatively, the lawsuit asks the city to launch a new licensing process that gives all applicants an equal shot at licenses, the Los Angeles Times reported.

The Department of Cannabis Regulation (DCR) launched its latest round of licensing in September to issue 100 additional cannabis retail licenses to social equity applicants. Some stakeholders alleged that some applicants gained early access to the online application system while others were locked out due to slow internet speeds.

While DCR Director Cat Packer indicated that two applicants did access the system early due to a staff error that occurred while resetting their passwords, she said those applications were pushed back in line to where they would have been otherwise.

Regardless, Los Angeles City Council President Herb Wesson called for the suspension of the licensing process in October, and Packer announced in November that the DCR would not issue the final retail licenses until the city completed a third-party audit of the licensing process.

The Alaska Marijuana Control Board adopted emergency regulations last week to allow the state’s cannabis dispensaries to offer curbside pickup services to their customers in response to the COVID-19 pandemic, according to a local webcenter11.com report.

The new rule took effect April 17 and allows customers to place orders online and over the phone for curbside pickup or pickup through a walk-up window or drive-thru service at certain dispensary locations.

In order to offer this service to customers, Alaska’s dispensaries must request an operating plan change to their license, provide written verification that their municipality allows the change and obtain written approval from the Marijuana Control Board, webcenter11.com reported.

Arkansas medical cannabis sales have surpassed $63 million since the first dispensary opened in May 2019, according to a local 5 News Report.

As of April 16, Arkansans have spent $63.37 million on medical cannabis and have purchased over 10,000 pounds of products, the news outlet reported.

Green Springs Medical, located in Hot Springs, has seen the most sales of any dispensary in the state, surpassing 2,000 pounds in total sales last week, according to 5 News.

Arkansas now has 21 operational dispensaries, the news outlet reported, and the Alcohol Beverage Control Board recently approved Comprehensive Care Group to open as the state’s 22nd dispensary location under the name Body and Mind.

Commission Adjusts Alcohol Purchasing Hours to Accommodate Vulnerable Populations OREGON: At its regularly monthly meeting on April 16, 2020 the Oregon Liquor Control Commission considered the concerns of older adult shoppers and persons with underlying medical conditions, in approving a temporary rule allowing OLCC licensed retailers to begin selling beer, wine and cider beginning at Read the full article...

A TALE OF TWO COUNTRIES: RACIALLY TARGETED ARRESTS IN THE ERA OF MARIJUANA REFORM DETAILS MILLIONS OF RACIALLY TARGETED MARIJUANA ARRESTS MADE BETWEEN 2010-2018 NEW YORK: The American Civil Liberties Union today released a new report showing that Black people are 3.64 times more likely than white people to be arrested for marijuana possession despite Read the full article...

OHIO: The State of Ohio Board of Pharmacy today published updated patient & caregiver numbers for March 2020. These numbers include: 113,359 Recommendations 94,356 Registered patients 7,031 Patients with Veteran Status 6,990 Patients with Indigent Status 544 Patients with a Terminal Diagnosis 69,585 Unique patients who purchased medical marijuana (as reported to OARRS by licensed Read the full article...

As COVID-19 takes its toll on human life and health, it also is upending economies worldwide. During a four-week period beginning March 23, more than 22 million people in the U.S. filed for unemployment insurance—a record, by far. The number is sure to keep climbing for weeks, if not months.

Many businesses, from restaurants to yoga studios to dentists’ offices have either closed entirely or offer a fraction of the goods and services they depend upon to survive the economic slowdown. It is very likely that the U.S. is about to experience a larger concentration of bankruptcies in a shorter period of time than ever before.

Most businesses in the country can take advantage of some form of bankruptcy to restructure and/or seek relief from creditors. Unfortunately, as bankruptcy is a federal matter, and the federal government considers cannabis companies illegal, declaring bankruptcy is not an option for cannabis businesses. For those companies that just can’t pull through, it’s a total loss.

That’s bad enough, but cannabis business owners have known this fact for a long time. Unfortunately, COVID-19 and the federal government’s response to the pandemic has created some additional unfair and discriminatory conditions for the industry.

Families First, Cannabis Last

On March 18, the Families First Coronavirus Response Act (FFCRA) became law. The FFCRA states that if a company has fewer than 500 employees, it must offer paid sick leave to any employee who contracts coronavirus, or to an employee who has a dependent who has the disease (although companies with fewer than 50 employees can apply for an exemption). The FFCRA calls for companies to pay for such sick leave by utilizing the funds they retain for federal employment taxes, including federal income tax withheld from employees and the companies’ and their employees’ share of social security and Medicare taxes, that would normally be paid to the Internal Revenue Service (IRS). It also requires the IRS to grant tax credits covering any funds paid to sick employees. It even accounts for companies that do not have enough funds set aside to pay sick employees by allowing employers to apply for an advance on the tax credits.

The Secure and Fair Enforcement (SAFE) Banking Act picked up a great deal of momentum last year, winning approval in the U.S. House last fall before ultimately stalling in the Senate.

The legislation, which would provide a safe harbor for financial institutions that work with cannabis business clients, may be back on the table in the coming weeks, however, as members of Congress look to include a revised version of the proposal in the next COVID-19 stimulus bill.

Lawmakers argue that many medical cannabis patients are at increased risk of contracting the coronavirus, and forcing them to purchase products in cash could also put dispensary employees at risk, according to an NJ.com report.

“There is no positive in having cash outside of the banking industry for the safety of our employees and facility, but also no positive for the economy either,” said Michael Sassano, founder and CEO of Solaris Farms, a Las Vegas-based cultivation facility.

For Sassano, the federal government’s focus should first be on its response to the COVID-19 crisis, but after the immediate threat is behind us, he would like to see a more comprehensive legalization effort at the federal level, which would not only address banking reform, but would also alleviate the rest of the federal-state tension that has long plagued the industry.

Canopy Growth Corp. took a big step back from several international operations last week, cutting ties with its assets in South Africa, Lesotho, Colombia and the U.S.

Among the company’s attempts to reduce its workforce and its cash-burn rate was the closure of Waterpoint Hemp Farm in Springfield, N.Y. more than 1,000 acres of former dairy farmland. Canopy bought the property in early 2019. “Canopy Growth purchased Waterpoint not just because it had the good land for hemp, but it also had the housing, electrical infrastructure, buildings, diesel tanks,” Branson Skinner, Canopy Growth’s farm manager for New York State, said at the time.

As of last week, however, Canopy had closed the farm and turned its attention elsewhere in the hemp market.

“We have made the difficult but necessary decision to close our Waterpoint Hemp Farm based in Springfield, New York,” according to a statement from the company. “Like many other growers in the state, Waterpoint Hemp Farm produced an abundance of hemp in 2019, which does not commensurate with current market demand or the regulatory delays surround hemp extracts.”

The surplus biomass will be used in Canopy’s CBD isolate products manufactured under the brand First & Free, which includes soft gels, tinctures and creams, a company spokesperson told Hemp Grower. Canopy continues to build out its hemp production facility on the site of a former vacuum cleaner production plant in Kirkwood, N.Y.

The company also works with contract farmers in the U.S. to produce hemp for extraction purposes.

This week, Canopy Growth, the Canadian licensed producer that once touted itself as the largest cannabis company in the world, announced drastic steps to reduce its operations and cash-burn rate, ceasing operations at several of its locations. Elsewhere, in Virginia, Gov. Ralph Northam signed legislation to decriminalize the simple possession of cannabis.

Here, we’ve rounded up the 10 headlines you need to know before this week is over.

Virginia: Gov. Ralph Northam has signed legislation to decriminalize the simple possession of cannabis. The decriminalization measure, which is an amendment to House Bill 972, reduces the penalty for the possession of up to one ounce of cannabis to a $25 fine. Read moreMaine: The Office of Marijuana Policy (OMP) has issued a letter to conditional and prospective adult-use cannabis licensees, indicating that it is indefinitely postponing the launch of the state’s adult-use market due to the COVID-19 pandemic. The OMP cited safety and social distancing concerns in its decision, saying “it now appears as though a spring launch of Maine’s adult use industry is simply unrealistic.” Read moreNew Hampshire: The state has announced that it will extend the deadline for patients to renew medical cannabis cards due to the COVID-19 outbreak. Patients with cards expiring in April, May and June now have until July 31 to renew them amid concerns that patients will have a difficult time visiting their doctors for recertification. Read moreColorado: Denver City Council has approved a new cannabis research and development license as part of the city’s efforts to update its cannabis laws. The city council also approved a lottery cap for new dispensary licenses and plans to eventually roll out a social equity plan. Read moreWashington, D.C.: Mayor Muriel Bowser and the D.C. Department of Health announced an emergency rule this week that temporarily allows medical cannabis dispensaries to provide delivery and curbside pickup services to their patients. The new rule takes effect immediately and will remain in effect for 120 days or until 45 days after the public health emergency ends, whichever comes first. Read moreOhio: The Ohio Board of Pharmacy has established a new process for calculating a patient’s 90-day supply of medical cannabis, with the news rules taking effect April 17. The process is aimed at simplifying the way that patients, caregivers and dispensaries calculate days’ supply while ensuring that patients do not exceed the maximum 90-day possession limit outlined in Ohio’s medical cannabis law. Read moreMissouri: A campaign to place an adult-use cannabis legalization initiative on Missouri’s 2020 ballot is suspending its efforts due to the COVID-19 crisis. Dan Viets, chairman of Missourians for a New Approach, told the Springfield News-Leader this week that the petition initiative campaign is officially over due to public response to the pandemic, which is prohibiting supporters from gathering signatures. Read moreCalifornia: Following an audit of its licensing process and after receiving feedback from stakeholders and the local community, the Los Angeles Department of Cannabis Regulation (DCR) has put together recommendations to amend the licensing process. “Although the Department agrees that its normalization process was reasonable, it acknowledges that the process and the policy itself can and should be improved in a number of substantive ways,” according to a report the DCR sent to Los Angeles City Council. Read moreGuam: Gov. Lou Leon Guerrero has declared a public health emergency on the island that suspends all “non-essential” government activity through May 6 in a move that will likely delay the release of Guam’s forthcoming adult-use cannabis regulations. The Cannabis Control Board—established by Guam’s legalization bill to regulate and oversee the industry—has been shut down since Leon Guerrero’s order went into effect March 16, although the board did hold several meetings before the shutdown in an attempt to meet its deadline, which passed during the first week of April. Read moreCanada: Canopy Growth, the Canadian LP that once touted itself as the largest cannabis company in the world, is taking drastic steps to reduce its operations and cash-burn rate, ceasing operations at several of its locations. The company announced this week that it is selling all of its African cannabis assets (located in South Africa and Lesotho) to a local business, as well as ending cultivation operations at its Latin American facility in Colombia and shuttering its indoor cultivation facility in Yorktown, Saskatchewan, Canada. Read more