MjLink Cannabis Business News and Press
TALLAHASSEE, Fla. and PHOENIX, Oct. 1, 2021 – PRESS RELEASE – Trulieve Cannabis Corp. ("Trulieve" or the "company") and Arizona-based Harvest Health & Recreation Inc. announced the completion of the previously announced $2.1-billion arrangement, pursuant to which Trulieve acquired all of the issued and outstanding subordinate voting shares, multiple voting shares and super voting shares (collectively the "Harvest shares") of Harvest (the "transaction").
The all-stock transaction expands the multistate operator’s presence to 11 states with 22 cultivation and processing facilities, and 149 dispensaries.
RELATED: Trulieve Announces Acquisition of Harvest Health in $2.1-Billion Deal
Key Transaction Highlights and Benefits
Increases Scale Across Our Hub Markets – creates at time of closing the largest U.S. cannabis operator across a combined retail and cultivation footprint basis with depth in key markets;Solidifies Position as the Most Profitable U.S. MSO – establishes an outstanding platform of profitability and cash generation for continued growth, positioning the company to execute on near-term opportunities in existing markets as well as future catalysts at both state and federal levels;Provides Leading Financial Metrics – reinforces superior financial performance relative to peers by delivering the strongest public company financial results among any U.S. reporting MSO. In second quarter 2021, Trulieve reported revenues of $215.1 million, net income of $40.9 million, and Adjusted EBITDA of $94.9 million, while Harvest reported revenues of $102.5 million, net loss before non-controlling interest of $19.2 million, and Adjusted EBITDA of $28 million. On a combined basis, in second quarter 2021, Trulieve and Harvest had $317.6 million in reported revenue, the highest among U.S. public reporting cannabis companies;Delivers an Exceptional Retail and Wholesale Distribution Model – offers a robust retail network of 149 dispensaries across 11 states and three strategic regional hubs, with market-leading positions in Arizona, Florida and Pennsylvania;Strengthens Industry Leading Balance Sheet – combines Trulieve and Harvest's strong cash and cash equivalents of $289 million and $71 million, respectively, as of June 30, 2021, bolstered by Trulieve's recently announced $350 million debt financing and Harvest's $55 million proceeds from the sale of its Florida license;Extends Product Selection and Brands – adds successful line of Harvest brands, including Alchemy and Roll One, across multiple form factors to Trulieve's portfolio of in-house brands and national brand partners; andLeverages Experience and Best Practices – combines proven management teams with established track records, enhancing operational excellence across cultivation, manufacturing and retail.Management Commentary
"The closing of this transaction marks a transformational milestone in our company's history and positions Trulieve as the leading medical and adult-use cannabis operator in the U.S.," Trulieve CEO Kim Rivers said. "I thank all our employees, both Trulievers and Harvesters, for their tireless efforts during this process. The combined footprint provides Trulieve with a solid foundation for continued growth and scale. We look forward to fully integrating Harvest as we continue to execute on our hub strategy in the U.S., creating an unrivalled brand and reputation in the marketplace and value for our shareholders."
NEW YORK, Oct. 1, 2021 – PRESS RELEASE – Acreage Holdings Inc. (“Acreage”), a multistate operator of cannabis cultivation and retailing facilities in the U.S., announced the closing of the acquisitions of cultivation, processing and retail operations in Ohio by its subsidiary, High Street Capital Partners LLC (“High Street”).
As previously announced, Acreage entered into purchase agreements for these operations in Ohio during the summer of 2018 for the total purchase price of approximately $7.1 million in cash, $7.1 million in notes and 1.1 million shares of High Street, which are convertible into shares of Acreage, with the remaining $3.3 million worth of notes repaid today.
Under the terms of the agreements, Acreage acquired all of the membership interests of Greenleaf Gardens LLC, which operates a cultivation license in Ohio, Greenleaf Therapeutics LLC, which operates a processing license in Ohio, and Greenleaf Apothecaries LLC, which operates five retail dispensaries in Ohio (together “Greenleaf”). Upon completion of these acquisitions, Acreage will subsequently consolidate the results of Greenleaf into its consolidated financial statements.
OPERATIONS HIGHLIGHTS:
Cultivation and Processing: Greenleaf’s cultivation and processing operations are located in a 70,000-square-foot facility in Middlefield, Ohio, and include 8 acres of land which will allow for future expansion.Greenleaf produces a variety of high-quality cannabis products including edibles, vapes, concentrates, tinctures, capsules and flower.In addition to direct sales through its retail dispensaries, Greenleaf also sells product through its wholesale channels to 40 of the 56 medical cannabis dispensaries currently operating in Ohio.Retail Operations: Greenleaf’s retail operations in Ohio include five operational dispensaries, branded The Botanist, in Akron, Canton, Cleveland, Columbus and Wickliffe.Greenleaf is a leading cannabis retailer in the state of Ohio with an average of 30,000 transactions per month and an estimated retail market share of approximately 20%.“The closing of our acquisition of Greenleaf’s operations in Ohio will significantly strengthen both our operating asset base and our long-term financial performance,” Acreage CEO Peter Caldini said. “The cannabis market in Ohio is rapidly growing and with some of the highest quality assets in the state, we are well positioned to continue to lead its development. This transaction demonstrates our continued focus on our three key strategic objectives—driving profitability, strengthening our balance sheet and accelerating our growth in our core markets.”
]]>Cannabis policy reform has a long and storied history in Nebraska.
Last year, Nebraskans for Medical Marijuana collected enough valid signatures to get a medical cannabis legalization measure on the state’s 2020 ballot, only to have the Nebraska Supreme Court overturn the initiative, which opponents claimed violated the state’s single subject rule.
From the ashes, a new strategy emerged, and Nebraskans for Medical Marijuana filed two separate medical cannabis initiatives with the Secretary of State Sept. 8.
RELATED: Advocates Try Again to Place Medical Cannabis Legalization Measure on Nebraska’s Ballot
The setback also inspired John Cartier, who was one of the ballot committee members working for the 2020 initiative and is still involved in the Nebraskans for Medical Marijuana campaign, and his colleague Michael Johnson to launch a cannabis trade group in the state to organize industry stakeholders around policy reform efforts.
With a 26-15 vote, the House Judiciary Committee passed the MORE Act Thursday evening, giving a major boost to the comprehensive cannabis reform legislation first introduced in 2019.
Marijuana Moment first reported the news shortly after the vote.
While the U.S. House has passed this bill before, in a December 2020 vote, that version ultimately got nowhere in the U.S. Senate. U.S. Rep. Jerrold Nadler, D-NY, refiled the bill earlier this year.
"I have long believed that the criminalization of marijuana has been a mistake," Nadler wrote. "The racially disparate enforcement of marijuana laws has only made it worse, with serious consequences, particularly for communities of color."
The MORE Act would deschedule cannabis and retroactively expunge past cannabis convictions at the federal level. It would impose a 5% tax on the retail sales of cannabis to go to the Opportunity Trust Fund, a rate that would increase to 8% over three years. The bill also includes social equity provisions (including the development of the Office of Cannabis Justice and the distribution of grants) and ongoing research components.
“Never before has public support from every corner of the political spectrum been so aligned as to demand that Congress take action to end the shameful experiment with marijuana prohibition,” said NORML Political Director Justin Strekal in a public statement. “The continued criminalization of marijuana by the federal government is an affront to our professed ideals of freedom, liberty, and justice. By advancing the MORE Act, the House will demonstrate that the majority of our political leaders are ready to correct this injustice and enact cannabis policy reform that undoes the harms that have been inflicted upon millions of otherwise law-abiding citizens.”
California Gov. Gavin Newsom signed legislation into law to expand end-of-life treatment and pain relief options for “terminally-ill” patients.
S.B. 311, also known as “Ryan’s Law,” defines “terminally-ill patients” as individuals with “a medical condition resulting in a prognosis of life of one year or less, if the disease follows its natural course.”
“It is inconceivable to me that, in a state where medical cannabis was legalized more than 25 years ago, those in deepest suffering receiving treatment in our state’s healthcare facilities cannot access this proven, effective, and prescribed treatment,” said Sen. Ben Hueso in a press release. “Instead, terminally-ill patients in California healthcare facilities are given heavy opiates that rob them of their precious last moments with family and friends. This is a simple, yet critical, move that will provide relief, compassion and dignity to terminally-ill Californians.”
Under the legislation, California hospitals and specific medical facilities must allow terminally ill patients to use medical cannabis for pain relief or treatment, according to the release.
Healthcare facilities are not required to dispense medical cannabis from the pharmacy, nor are they required to provide it for patients; however, to ensure guests, patients, and employees' safety, they must restrict and monitor how patients store and consume the medical cannabis, the law states.
While terminally ill patients can consume medical cannabis, smoking or vaping in the hospital is strictly prohibited.
STRATHROY,Ontario, Sept. 30, 2021 – PRESS RELEASE – Eve & Co Inc. announced thatJeannette VanderMarel has joined its board of directors.
Anearly entrepreneur in the cannabis industry, VanderMarel was the co-founder andpresident of Good & Green, a cannabis company committed to setting a newstandard for product quality and reliability as well as corporate socialresponsibility. Previously, VanderMarel co-founded The Green Organic Dutchman,one of Canada’s early Health Canada licensed producers of medical cannabis. Inspiredby her personal experience, including her career as a critical care andpediatric intensive care nurse as well as her daughter’s battle with Dravet syndrome,VanderMarel has a strong passion for and commitment to the cannabis industry,recognizing the opportunity cannabis presents to improve patients’ lives,combat the growing reliance on opioids, and improve wellness and health byoffering new and innovative treatment alternatives. VanderMarel was a registerednurse and a Certified Nurse in Critical Care – Pediatrics and previously servedas chair of the Family Advisory Council at McMaster Children’s Hospital and wasthe co-founder and inaugural chair of the Ontario Lavender Association.
VanderMarelreplaces Yasir Naqvi on the board of directors. Naqvi resigned as a result ofhis election as a member of Parliament for Ottawa Centre in the recent federalelection.
TheEve & Co Board has also appointed Kim Arnel as interim chief financial officerto replace Rory Taylor. Arnel previously served as the company’s controller andhas almost 20 years of experience in senior financial roles in the agriculturaland greenhouse industries.
Additionally,Eve & Co also welcomes David Hackett as financial consultant to the company.Hackett brings over 25 years of public company experience recently with 48NorthCannabis Corp., a vertically integrated Canadian cannabis company where hesuccessfully assisted in its go-public transaction, financings of $64 million,a number of acquisitions and annualized revenue growth from zero to $30million in three years. He has overseen the growth of a number of start-upcompanies, including dealing with operations, technology, regulatory reportingin Canada and the U.S., corporate governance, public financingin Canada and the U.S. and M&A activity. David is a CPA and CAand holds an MBA from the Richard Ivey School of Business at WesternUniversity.
Theboard of directors thanks Naqvi and Taylor for their valuable contributions tothe company. “We wish Yasir all the best in his newly elected role of member ofParliament and representative of Ottawa Central. We also would like to thankRory for his contributions as interim CFO,” said Melinda Rombouts, CEO andDirector of Eve & Co.
Earlier this month, the California Department of Cannabis Control (DCC) proposed an emergency rulemaking action to consolidate the state’s three sets of cannabis regulations into one.
According to a recent press release from the DCC, the emergency regulations have been approved and are now in effect.
“The regulations create consistent standards for cannabis licensees across all license types, by aligning application requirements, unifying terminology, and clarifying ownership and financial interest requirements,” the release states.
The new rules also establish requirements for trade samples between businesses, which was previously authorized by Assembly Bill 141.
As previously reported by Cannabis Business Times, Gov. Gavin Newsom signed A.B. 141 into law earlier this year.
RELATED: California Cannabis Players Endorse ‘No’ Vote on Gubernatorial Recall Election
Following the New Jersey Cannabis Regulatory Commission (CRC) missing the deadline to begin accepting license applications last week, the commission has announced that dispensaries will not be permitted to sell certain cannabis-infused products.
According to New Jersey 101.5, cannabis-infused products like cookies, brownies, gummies or anything that "resembles food"—aside from lozenges—will not be permitted for sale in the state.
While the industry is frustrated with the state's lack of licensing approval, the article states that some groups seem OK with the state's infused products regulations.
The president of the New Jersey CannaBusiness Association, Edmund DeVeaux, said in the article that the CRC's regulations were not surprising, as they were implemented to "balance citizen concerns."
"This is an opportunity for people to get used to the notion of legalized cannabis without having to worry about the children or seniors and them accessing edibles, sweets, anything that contains THC, whether intentionally or accidentally," DeVeaux said.
LOS ANGELES, Sept. 27, 2021 – PRESS RELEASE – Los Angeles County District Attorney George Gascón announced that his office—with support from The Social Impact Center—has identified nearly 60,000 cannabis convictions that will be dismissed as part of his ongoing efforts to reverse the injustices of drug laws.
“Dismissing these convictions means the possibility of a better future to thousands of disenfranchised people who are receiving this long-needed relief," Gascón said. "It clears the path for them to find jobs, housing and other services that previously were denied to them because of unjust cannabis laws."
Gascón was joined today by Felicia Carbajal, executive director and community leader of The Social Impact Center, a nonprofit organization that serves as a bridge between government, grassroots organizations and people in underserved communities; Lynne Lyman, former director of the Drug Policy Alliance; Public Defender Ricardo García and Alternate Public Defender Erika Anzoategui.
"I have made it my life mission to help and support people who have been impacted by the 'war on drugs,'" Carbajal said. "Giving people with cannabis convictions a new lease on life by expunging the records is something I have worked on for years and I am grateful that we can now make it happen."
"This is the unfinished work of Proposition 64," Lyman said. "We created the opportunity for old cannabis convictions to be cleared, but it was up to local district attorneys to actually make it happen. Proposition 64 was always about more than legal weed, it was an intentional effort to repair the past harms of the war on drugs and cannabis prohibition, which disproportionately targeted people of color. I applaud District Attorney Gascón for taking this action to help nearly 60,000 Angelenos have their records fully sealed."
"District Attorney Gascón has taken another important step toward justice reform,” García said. “Today's mass dismissal of cannabis convictions restores dignity and provides new opportunities to those who have been unfairly impacted by outdated, tough-on-crime anti-drug laws, many are our most vulnerable community members who deserve our care and support."
Portland, Ore. (September 22, 2021)--PRESS RELEASE--Resource Innovation Institute (RII) is currently recruiting for the following Technical Advisory Council working groups to support its USDA project titled "Data-Driven Market Transformation for Efficient, Sustainable Controlled Environment Agriculture (CEA)." RII is a non-profit organization whose mission is to measure, verify and celebrate the world’s most efficient agricultural ideas. RII’s Technical Advisory Council is the leading multidisciplinary body aggregating knowledge to support producers and other stakeholders with objective and peer-reviewed data and curriculum on CEA resource efficiency and productivity.
Working group members will advise on the development of CEA Best Practices Guides that will be distributed by USDA, thereby providing recognition for contributing organizations.
Facility Design & Construction - Architecture, Construction (mechanical and electrical contractors, equipment distributors, controls contractors), Engineering (mechanical and electrical, lighting designers), Manufacturing (greenhouse, HVAC, lighting controls), Energy supply (electric, gas microgrid, renewables, back-up, battery storage, energy as a service), Commissioning (mechanical, envelope), Design Review Boards, Cultivation. Lighting - Engineering, Manufacturing, Cultivation, Controls & Automation, Research. HVAC - Engineering, Manufacturing, Cultivation, Controls & Automation, Research.Irrigation & Water Reuse - Engineering, Manufacturing, Controls & Automation, Research.Market actors are welcome to join global category leaders like Grodan, Fluence, Priva, Schneider Electric, Svensson, Signify and others in bringing peer-reviewed guidance on resource efficient cultivation practices to CEA producers.
Participants will be expected to:
Commit to 4-8 well-facilitated, enjoyable one-hour meetings over a compressed period of roughly 3-4 months + ~2 hours of peer review on their own timeWilling to provide required matching funds.For more information on the Technical Advisory Council Working Groups, please visit: https://resourceinnovation.org/tac/
Researchers in Arkansas are launching a three-year study to examine how the state’s medical cannabis program relates to patients’ overall health outcomes.
The study, titled “Population Based Analyses of Healthcare Utilization and Outcomes in Users of Medical Marijuana,” is funded by a $1.3 million grant from the National Institutes of Health, according to a KUAR report. It will be led by researchers with the University of Arkansas for Medical Sciences and the Arkansas Center for Health Improvement (ACHI).
“We don’t know whether we’re going to have findings that medical marijuana helps, for example, lowering individuals that have pain, their opioid prescription rate, or whether medical marijuana may have unintended effects of having new mental health conditions emerge,” ACHI President Dr. Joe Thompson told the news outlet.
Using six data sources, including the Arkansas Healthcare Transparency Initiative’s Arkansas All-Payer Claims Database and Arkansas Department of Health medical cannabis patient registry information, the research will study the type of cannabis products that patients are consuming, their doctors’ visits, emergency room outcomes and motor vehicle accident records, according to KUAR.
“I think there will be a lot of eyes on this study both within the state and across the nation,” Thompson said. “There’s really been no study that, from a population perspective, has looked at the effect of a policy like making medical marijuana available as a new therapeutic. If we find that it has very positive effects, then there may be policy changes that bring it more integrated into the traditional providers of care.”
MIAMI, Florida, September 27, 2021 - PRESS RELEASE - Ayr Wellness Inc., a vertically integrated cannabis multi-state operator (MSO), announced the opening of Liberty Health Sciences (LHS) Port Richey, the company’s 42nd operating dispensary in Florida.
The dispensary is located at 9314 US Highway 19, Port Richey, Fla., 34668 within Pasco County, which is home to a population of 560,000 people, according to the 2020 U.S. Census. The store brings LHS to the Gulf Coast city, attracting visitors from throughout Florida and the U.S. for its lush landscapes and well-known 8,300-acre wilderness park.
The new location features LHS’s expanded selection of flower strains, in addition to the company’s recently launched Origyn concentrates, Big Pete’s Cookies and Secret Orchard vape cartridges.
“We appreciate the wonderful reception that we’ve received from the people of Port Richey and look forward to introducing them to our high-quality offerings," said Jonathan Sandelman, Ayr Wellness CEO. "We now have 42 stores open in the state, thanks to the hard work from our Florida team, which continues to find excellent locations to plant our flag.”
The Florida medical marijuana market continues to show robust growth, with the Florida Office of Medical Marijuana Use reporting over 615,000 registered patients as of Sept. 24, up 46% year-over-year.
]]>CHICOPEE, Massachusetts, September 27, 2021 - PRESS RELEASE - This year marks the 50th anniversary of the War on Drugs. Racial inequality has been a pervasive theme in these policies resulting in disproportionate persecution of minorities for decades. The "Reimagining Community Days" event seeks to bring transformative justice to those who have been affected by it most.
Today, in the commonwealth, where cannabis is legal, nearly $2 billion has been generated through cannabis sales. However, none of those funds are allocated towards sealing criminal record information (CORI) records or expungements for those disproportionately affected by the War on Drugs. With the support of Theory Wellness, the Massachusetts Recreational Consumer Council (MRCC) is working to change that with their "Reimaging Community Days" event.
The event will be held at Theory Wellness' Chicopee dispensary on Sept. 30. It will offer free legal counseling for expungements, sealing CORI records, wraparound services, and cannabis health consultations for registered attendees previously subject to cannabis-related crimes.
In today's industry, expungements and CORI sealing are critical to healing the past woes of the War on Drugs, especially here in Massachusetts. Those who still have these records are prohibited from obtaining a license to work in the cannabis industry, prolonging systemic racial inequality. The event will help bridge that gap by bringing much-needed education and awareness to support those who need it.
The event is open to those with past or present criminal cases filed against them in court or a criminal record CORI relating to a cannabis-related offense. Theory wellness will be offering free Uber services to and from their location for all who wish to attend. Those who are interested should pre-register for the event using the following link.
Date: Sept. 30, 2021Time: 12:00 p.m. - 3:00 p.m.Registration: Attendees are encouraged to sign up in advance hereFree Ubers will be provided via the link following registrationLocation: Theory Wellness, Chicopee Dispensary (672 Fuller Rd. Chicopee, MA 01201)]]>
After running pre-employment cannabis tests for years—and going so far as to terminate employees for cannabis use—the online retail giant Amazon has been on a sudden tear of support for the industry over the past few months. Beginning with applause for the Cannabis Administration and Opportunity Act (CAOA), the company is now getting behind the industry and doing away with its prohibitive policies.
Assistant Editor Andriana Ruscitto reports this week: While the company has begun to remove pre-employment cannabis screenings, it has also decided to “reinstate employment eligibility of both former employees terminated due to receiving a non-negative Tetrahydrocannabinol (THC) result during random drug tests, as well as applicants that were deferred for the same reason during standard pre-employment screenings.”
As the industry knows, however, embracing former opponents with open arms is not an automatic response to this sort of about-face. Amazon is a powerful private business with its own interests, some of which may indeed intersect with cannabis in the coming years (particularly following the passage of some federal reform like the CAOA). Until then, a bit of cautious optimism and low-key intrigue is warranted with news like this.
We’ve rounded up some of the key cannabis headlines from the week right here.
Canadian cannabis giant Aurora Cannabis is grabbing headlines this month due to a class-action lawsuit and news that the company will shutter its Aurora Polaris facility in Edmonton, Alberta. Senior Digital Editor Melissa Schiller reports on the news. Read more Amazon has publicized its continued support to refine the nation’s cannabis policy. The organization declared its support for the Cannabis Administration and Opportunity Act (CAOA), a federal draft bill that would end cannabis prohibition, as it “makes a number of important changes” the company stands by. Read more In week three of “Operation Hammer Strike,” the San Bernardino County Sheriff’s Department (SBSD) Marijuana Enforcement Team (MET) and deputies from several other patrol stations arrested 31 suspects last week that were tied to illegal cannabis grows. Read more Among the 185 cannabis dispensary licenses recently awarded by the Illinois Department of Financial and Professional Regulation (IDFPR), 75 were reserved for top-scoring applicants in what was intended to be a competitive licensing process. That presents a dilemma. Associate Editor Tony Lange has the story. Read moreAnd elsewhere on the web, here are the stories we’ve been reading this week:
KOMO News: “Washington requires a criminal background check for applicants who want a license to sell or grow cannabis. Under current rules, anyone with a felony or a few misdemeanor convictions is ineligible. That changes next month.” Read more Mississippi Today: “Legislative negotiators and leaders have agreed on a draft of medical marijuana legislation, and are anticipated to ask Gov. Tate Reeves … to call the legislature into special session.” Read more News on 6: “About 300 Oklahoma medical marijuana businesses, all with the same co-owner, suddenly lost their licenses recently, prompting numerous legal battles.” Read more KOCO: Also in Oklahoma, “multiple law enforcement agencies dismantled a large outdoor marijuana grow operation in Major County.” Read more Voice of San Diego: The San Diego Country Board of Supervisors will consider “the full scope of a countywide cannabis ordinance that got the greenlight this past January in a 4-1 vote. The details of what that will look like in practice are still being hammered out, but there is an expectation that there will be a social equity provision in the ordinance.” Read moreWhen Wanda James was working to open her first cannabis dispensary over ten years ago, she was poised with many stressors, such as raising capital and worrying about not going to jail in the midst of it.
In 2009, James and her husband, Scott Durrah, opened the first Black-owned dispensary in Denver, Colo., the Apothecary of Colorado. And in 2010, the couple launched Simply Pure edibles and became the first African Americans in the state "licensed to own a dispensary, a grow operation and an edibles company," Cannabis Dispensary previously reported.
The cannabis industry was in a "very different place back then," James said. Not only did she have to stress about acquiring funding, but she also had to worry about the negative comments she would get from others on how she was making a wrong decision.
"In 2009, I remember The Denver Post wrote an article called 'Coming Out of The Cannabis Closet,’ and I got so many phone calls from all of the politicians that I work with and business people telling me that life as I knew it was over, [and] I ruined my reputation," James said. "And that was a real thing."
James expressed that the money involved in opening a dispensary in 2009 was first and last month's rent payment, a security deposit, and whatever extra money owners wanted to put into the business.
"We've always been able to have outside investors," she said. "We just had to go through a bunch of ridiculous gymnastics to make it happen, which means we had to take money in as a personal loan to the owners of the dispensary. Then, the owners could put that money into the dispensary and then pay back the investors through a personal loan or a lien on their house. So, we've always had that ability, but now we just have the legal, straight-up ability to be able to take that money."
New rules that take effect in Washington Oct. 2 will allow those with past convictions to pursue cannabis licenses, according to a local KXLY.com report.
Under the existing regulations, a felony conviction in the past 10 years disqualifies applicants seeking cultivation, processing and retail licenses, the news outlet reported.
Recent misdemeanor convictions, as well as not disclosing misdemeanor or felony convictions on the application, also count against applicants under the current set of rules.
When the new regulations take effect next month, a serious felony conviction in the past decade will still spark an in-depth review of the application, but it will no longer be a non-starter in the licensing process, according to KXLY.com.
In addition, one Class C felony on an applicant’s record, or less than three misdemeanor convictions in the past three years, will not prompt a deeper review of the application under the new rules, the news outlet reported.
Mississippi lawmakers have been working on legislation to legalize medical cannabis to restore the will of their constituents after the state’s Supreme Court overturned a voter-approved medical cannabis ballot measure in May.
After a summer of negotiations, legislative leaders have reached a deal on a medical cannabis bill, according to a Mississippi Today report, and plan to ask Gov. Tate Reeves to call the Legislature into a special session to consider the proposal.
Reeves has said in the past that he would call a session for a medical cannabis bill as long as he and lawmakers agree on the legislation, the news outlet reported.
House Speaker Philip Gunn said during a Sept. 23 interview on a Supertalk radio show that he believes the House and Senate have the votes to pass the legislation, according to Mississippi Today.
Under the current proposal, cities and counties could opt out of allowing medical cannabis businesses within their jurisdictions, the news outlet reported, but voters could then gather 1,500 signatures or signatures of 20% of voters—whichever is less—to get a referendum on the issue and potentially opt back in. If the referendum ultimately fails, voters could try again in two years. Once a referendum to opt in to the medical cannabis market is approved by voters, a municipality could not ban it again, Mississippi Today reported.
Canadian cannabis giant Aurora Cannabis is grabbing headlines this month due to a class-action lawsuit and news that the company will shutter its Aurora Polaris facility in Edmonton, Alberta.
The suit, originally filed in late 2019 and amended in a U.S. District Court in New Jersey on Sept. 7, alleges that Aurora employed a fraudulent scheme to inflate one of its 2019 quarterly earnings results. This scheme, the plaintiffs claim, involved Aurora selling millions of dollars’ worth of cannabis back to itself through Radient Technologies, an Edmonton-based cannabis extraction company that Aurora had “significant influence over,” according to the complaint.
Aurora has a 12% ownership stake in Radient Technologies, as well as a seat on its board, as noted in the complaint.
In a June 2019 deal with Radient Technologies that “lacked commercial substance,” according to the complaint, Aurora allegedly sold $21.7 million worth of dried cannabis to Radient Technologies and then repurchased that same amount of product back from the company in a scheme that the plaintiffs claim artificially inflated Aurora’s 2019 fourth quarter adjusted earnings.
The lawsuit claims that Aurora then continued to misrepresent the true condition of the business, “causing the prices of Aurora’s common stock to be artificially inflated,” according to the complaint.
North Carolina lawmakers have indicated that a vote on the NC Compassionate Care Act, a medical cannabis legalization bill, may be postponed until 2022 as the Legislature focuses on the state budget and redistricting process during the final months of this year, according to a local WNCN report.
The legislation, Senate Bill 711, cleared the Senate Judiciary Committee in June, and then passed the Senate Finance Committee before heading back to the Judiciary for a second review.
After addressing an amendment containing several technical changes to the legislation, the Senate Judiciary Committee passed the bill a second time before sending it to the Health Care Committee, which signed off on the legislation at the end of August.
Despite the building momentum, some of the lawmakers behind the bill have said there are still some issues they are trying to resolve before bringing the legislation to the Senate floor for a vote, WNCN reported.
“There’s far more moving parts to this thing than I thought there was when we began,” Sen. Paul Lowe (D-Forsyth), one of the bill’s sponsors, told the news outlet. “We want to make sure we get it right.”
A host of new laws will take effect in Connecticut Oct. 1, including some that include new rules for the state’s existing medical and forthcoming adult-use cannabis markets.
Gov. Ned Lamont signed an adult-use legalization bill in June, and the new cannabis law includes several changes to the state’s smoking restrictions for cigarettes, cigars and vaping, according to the Hartford Courant.
New rules prohibit smoking within 25 feet of buildings that serve the public, such as restaurants and retail stores, the news outlet reported. The new law also prohibits smoking in hotels, motels, prisons and psychiatric facilities.
In addition, communities with more than 50,000 residents must designate an area for cannabis use, such as a section of a park, according to the Hartford Courant.
While the new law allows people to smoke cannabis anywhere that they are permitted to smoke cigarettes, towns can draft their own rules based on local zoning regulations, the news outlet reported.
