MjLink Cannabis Business News and Press

The Missouri Department of Health and Senior Services (DHSS) issued 60 medical cannabis cultivation licenses Dec. 26.

Over 500 applications were submitted to the state, according to a local KRCG report. The DHSS used a blind process to review and score each application, which consisted of at least 17 worksheets describing management plans, facility details, security measures and other eligibility requirements that were outlined in the program rules, the news outlet reported.

Applicants granted licenses have five days to accept the offer, and those not awarded licenses are now exploring their options to participate in Missouri’s up-and-coming medical cannabis market. This includes St. Louis-based Real Cannabis Co., which ranked 100 out of the 550 applications that were submitted for the 60 licenses.

“We do not know the specific scoring in each category at this point,” Real Cannabis Co. founder and CEO Derek Mays told Cannabis Business Times. “We are still optimistic about our manufacturing and dispensary licenses, and will be considering all options going forward to participate in the industry.”

For now, the Real Cannabis Co. team is awaiting the outcome of the other licensing rounds, and once they know which licenses they are ultimately awarded, they will consider pursuing other options.

The U.S. Department of Agriculture (USDA) has issued its hotly anticipated Interim Final Rule (IFR). The IFR implements the hemp-related provisions of the Agricultural Improvement Act of 2018 (the “2018 Farm Bill”). Both the IFR and 2018 Farm Bill apply equally to states and Indian tribes. To avoid repetition, only “states” are referenced here.

The IFR was published Oct. 31, 2019, and became effective immediately. It is already impacting the burgeoning U.S. hemp industry.

States must implement the IFR either by developing production plans or adopting USDA’s plan from the IFR. But some states are choosing to postpone this decision.

The 2018 Farm Bill extended the authority to produce hemp through state “pilot programs” under the Agricultural Act of 2014 (the “2014 Farm Bill”) for one year after USDA’s release of its production plan. So, states with existing pilot programs can delay implementing the IFR through the 2020 growing season. This is important, for one, given many states’ concerns over the IFR. Other states, including some with pilot programs, perceive advantages to implementing the IFR sooner.

It is thus useful to examine the IFR alongside the 2014 and 2018 Farm Bills, together with a survey of how some states have approached hemp production previously and are responding to the IFR now.

The 2014 Farm Bill – Pilot Programs for “Research” Purposes

The 2014 Farm Bill authorized state departments of agriculture and universities to produce hemp “for purposes of research conducted under an agricultural pilot program or other agricultural or academic research.” The law defined “pilot programs” but did little to clarify the meaning of hemp production “for purposes of research.” Congress essentially delegated this authority to states, without mentioning either USDA or the U.S. Drug Enforcement Administration (DEA).

With 2019 just about in the books, the latest headlines are a whirlwind of forward- and backward-looking reviews of where the industry is going next year and where it’s been this year. With new markets opening to adult-use sales (Michigan, Illinois) and maturing markets confronting their own growing pains (California, Colorado), this is a time of great transition in the cannabis industry. Let’s take a look.

In California, the Cannabis Advisory Committee “warned Gov. Gavin Newsom and California legislators that high taxes, overly burdensome regulations and local control issues posed debilitating obstacles to the legal marijuana market,” according to the San Francisco Examiner. Those obstacles have spurred illicit-market growth, too, leaving state regulators in a quandary: some of the high-level goals of legalization are not being realized in what has become the world’s largest cannabis market. So, what comes next? In the Examiner’s piece, sources around the state suggest that a new law—perhaps one left to the voters—may be in order.

The Motley Fool points to Major League Baseball’s December decision to remove cannabis from its list of banned substances as one of the great victories for the industry in late 2019. Other professional sports have mostly stood on the sidelines here, but the MLB brings another degree of normalization to this evolving marketplace. 

Canada legalized adult-use cannabis in 2018 (with cannabis-derived edibles, beverages and concentrates being legalized in 2019), and that move has allowed licensed producers up north to capitalize on quickly opening global marketplace. In the U.S., however, where cannabis companies are turning decades of underground experience into business savvy, the federally illegal status of the crop has kept American growers out of the international space. The Washington Post looks at how this disconnect is teeing up even more frustration for those businesses that plan to scale up in the next year.

Michigan began adult-use sales at three licensed dispensaries in Ann Arbor Dec. 1, but there’s a lot more coming in the new year. According to mlive.com, as of Dec. 23, 2019, “the state has issued 42 recreational marijuana businesses licenses, including 21 retail licenses, 11 growing licenses to four businesses, 4 processor licenses, a license for testing labs, two event organizing licenses and three to secure transportation companies.” 

Cannabis Wire has a great feature on Michael Cone’s Greenview Investment Partners, which serves as a reminder that scams abound in the burgeoning cannabis space. “Cone is one of a handful of cannabis fraudsters whose schemes have been exposed in public documents,” Stephen Paulsen writes. “But talk to advocates and entrepreneurs in the cannabis space and you’ll find that several have known a company something like Greenview: a fly-by-night business that, promising riches, offers dubious services in cannabis investments and/or consulting.” 

LAKELAND, FL – December 20, 2019 – PRESS RELEASE Metrc, a solution for cannabis and hemp governance, closed out a record year of growth in 2019, serving more than 121,000 users and helping states record more than $11.5 billion in cannabis industry sales. The year of record growth was complimented by key hires in the company’s executive suite including Chief Operating Officer (COO) and Chief Technology Officer (CTO).

“2019 has been a monumental year for Metrc,” said Metrc CEO Jeff Wells. “Our team grew by over 60% in the last 12 months to meet the increased demand for our services, making us the leading small business in this space.”

Through the company’s partnerships with 12 states and the District of Columbia, Metrc serves 15,000 business licenses and has marked over one billion supply chain events, including harvests, transports and tests.

In addition, the company hired Lewis Koski as COO and promoted Jesse Naranjo as its first CTO in 2019. Koski was director of the Colorado Marijuana Enforcement Division, where he helped build the first state agency to develop and implement medical and adult-use cannabis policy. Koski most recently co-founded Freedman & Koski, where he served as senior director and partnered with government agencies to build model cannabis policies. Naranjo was promoted to CTO after serving as the company’s leading software developer since 2012. A proud Cuban-American immigrant, self-taught English speaker and computer science engineer, Naranjo is the company’s first CTO.

The Missouri Department of Health and Senior Services announced the winners of the state’s 10 medical cannabis testing lab licenses Dec. 19, according to a USA Today report.

The approved facilities include:

At least 17 applications were submitted for the testing licenses, USA Today reported, and this is the first of six licensing rounds to license the medical cannabis supply chain in the state.

The licensed labs will be responsible for testing the products sold through the state's dispensaries for contaminants like chemicals and mold, and must also verify THC levels, according to the news outlet.

The Georgia Access to Medical Cannabis Commission held its first meeting Dec. 18 to begin exploring ways to manufacture or import medical cannabis oil for the state’s nearly 14,000 registered patients, according to The Atlanta Journal-Constitution.

Patients have been allowed to possess low-THC cannabis oil (containing less than 5-percent THC) since 2015, but had no way to legally obtain the product in the state until Gov. Brian Kemp signed a law in April that called for a regulated system for the in-state production, processing and sale of the oil.

The law established the commission and tasked it with establishing regulations for the program, as well as issuing business licenses and creating a distribution network for the oil. State officials appointed members to the commission last month, including three doctors, a police chief, a health policy professor, the president of the Georgia Board of Pharmacy and a small business owner. The commission is chaired by Dr. Christopher Edwards, the principal surgeon for the Atlanta Neurological & Spine Institute.

Six companies will ultimately be licensed to cultivate medical cannabis, The Atlanta Journal-Constitution reported, and the commission will also explore ways to import cannabis oil from other states or grow it at state universities. The oil will be tested for purity and dosages will be determined, according to the news outlet.

Going forward, the commission plans to hire a director, create a website and host monthly public meetings, The Atlanta Journal-Constitution reported.

It’s no secret that cannabis isn’t a cure-all. While regular consumption for recreational purposes at the ever-increasing potencies available on the legal market today still appears to have a fairly low level of health risk for the average person, potential cardiovascular impact remains an important consideration for those managing heart disease.

Due to the legal status of cannabis in the United States, studies on cannabis-related cardiovascular events have been primarily observational and self-reported, often pulling from small population samples without differentiation of consumption method. Aside from an incident with a 90mg THC lollipop, almost all studied risks of cannabis on cardiovascular function are based on users of inhaled combustible cannabis – and there’s plenty of data to suggest smoking of any kind may be of particular concern for those with pre-existing cardiovascular disease (CVD). Obviously, more complete clinical data is still needed, but there are a few red flags to consider already in regard to cannabis and heart health.

According to an article published by Harvard Medical School, patients with established heart disease who were also under stress have reported an increased likelihood of chest pain after smoking cannabis. THC, the primary psychoactive substance in adult-use market cannabis, has been shown to increase resting heart rate, dilate blood vessels, and make the heart pump harder – particularly within the first hour after smoking – raising concerns about an increased risk of heart attack immediately after consumption. These effects may be compounded by amplified stress levels within an individual.

Of course, as access continues to outpace transparent consumer education on responsible use, over-consumption of THC and the anxiety-producing effects that intolerance to high potencies can bring may be exasperating the experience of increased stress as well. So, while THC or other cannabinoids may correlate with cardiovascular changes, many of these symptoms may be more directly associated with raised anxiety levels after consuming or even other unknown factors.

Absent of an immediate and major cardiac event, symptoms of cardiac toxicity generally subside quickly and can be avoided with carefully measured dosing. Someone with a pre-existing heart condition who finds needed pain relief from cannabis may still be able to consume without significant risk but should be in communication with a cannabis-educated clinician or trained consultant who can provide observation and guidance. However, cute symptoms in consumers with pre-existing cardiac concerns may not be the only cardiological consideration with cannabis.

Regular Cannabis Use Linked to Structural Changes in the Heart

In a report released this week in the Journal of the American College of Cardiology (JACC) on Cardiovascular Imaging, researchers at Queen Mary University of London have found a possible link between regular cannabis use and its impact on structural and functional changes to the heart.

TORONTO and DENVER, Dec. 16, 2019 (GLOBE NEWSWIRE) -- PRESS RELEASE -- MJardin Group, Inc., a cannabis production company, has announced that it has received its cultivation and processing license from Health Canada for “Warman,” a 120,000-square-foot retro-fitted cultivation facility located in Winnipeg, Manitoba, the largest in the company’s portfolio.

Phase 1 construction of the building is complete and cultivation in this area will begin immediately.

“This is a great milestone for our flagship facility in Winnipeg and a great day for the team,” said Pat Witcher, chief executive officer of MJardin Group. “The timing of this achievement keeps us on schedule to reach full capacity in Manitoba by the end of 2020. It also allows us to focus more of our production on extraction at this facility and take full advantage of that high value market.”

Design plans for the full Phase 1 and 2 areas of the Warman facility were released this summer and include a hybrid facility encompassing indoor and greenhouse production capacity, along with full EU GMP certified extraction, processing and packaging capabilities. The completed Phase 2 build-out, expected to be complete in Q4 2020, will see the facility reach production capacity of approximately 4,500 kg of high-quality dried flower and 800 litres of bulk oil for use in refined products.

On Oct. 4, 2019, MJardin announced that the company received a C$11 million payment towards the previously announced letter of intent (LOI) joint venture agreement with Peguis First Nation (51%) that will see Peguis purchase the existing land and buildings from MJardin and additionally fund the capital expenditures required to complete Phase 2 of the facility for approximately C$20.5 million. The joint venture agreement is expected to close in early 2020.

LOS ANGELES, Dec. 2, 2019 /PRNewswire/ -- PRESS RELEASE -- Lil Wayne, the artistic giant and connoisseur of cannabis, has announced the launch of GKUA Ultra Premium. With an emphasis on purity, GKUA Ultra Premium offers a line of high-potency cannabis products designed to provide consumers with the best high of their lives.

This unique new brand celebrates the best cannabis in the world, with some of the highest natural levels of THC available. GKUA Ultra Premium flower is sourced from the most experienced growers, who produce strains that are very limited, incredibly potent and impossibly difficult to find.

"I used to just want to get high, now I smoke to get inspired," said Lil Wayne. "With GKUA, I'm sharing a feeling that I love."

Beyond the products, GKUA celebrates culture and artistic achievement. As Lil Wayne has done throughout his career, GKUA will support new artists in multiple mediums, such as fashion designers, song writers, musicians, models, dancers and visual artists through artistic collaborations that promote not only the brand, but the GKUA lifestyle.

"The combination of our incredible products, market knowledge and commitment to quality, paired with the unmatched fanbase of Lil Wayne, the ultimate cannabis connoisseur, creates an unprecedented opportunity to create a cannabis brand that values creativity and the artistic pursuit," said Beau Golob, president and co-founder GKUA Inc. "It's an honor to lead this company along with Lil Wayne, curating a premium line of products that inspires people and feeds their creativity. This is historic and really exciting!"

TORONTO, Dec. 4, 2019 /CNW/ - PRESS RELEASE - Khiron Life Sciences Corp., a vertically integrated cannabis company with core operations in Latin America, welcomes the announcement from ANVISA, the National Agency for Health Surveillance of Brazil, establishing a legalized environment for the sale and consumption of cannabis for medical use. The new regulations will be published in the coming days on the Federal Official Gazette and enter into law 90 days after that.

In the announcement from ANVISA, a new class of medical cannabis-based products will be prescribed by doctors and sold through pharmacies, enabling patient safe and legal access. The regulatory framework sets a comprehensive procedure for the manufacture and import of these products as well as the requirements for commercialization, prescription, dispensing, monitoring and supervision of cannabis products for medical purposes. The resolution was approved unanimously and is valid for an initial three-year term.

Andres Galofre, Khiron co-founder and vice president, business development, commented, "We congratulate legislators and the health authority in Brazil for their leadership in establishing a legalized environment for medical cannabis in the country. With a population of over 200 million, this will directly benefit the health and wellbeing of a significant number of patients in Brazil and affirms our position as a LatAm leader in a rapidly globalizing cannabis market."

Khiron has a firmly established market-entry strategy for Brazil, with Dormul S.A., its wholly owned subsidiary based in Uruguay giving the company access to the Brazilian market through the Mercosur Regional Trading Bloc. The company has initiated pre-clinical medical cannabis studies with the Universidad de la República of Uruguay and Institut Pasteur de Montevideo, providing direct strategic opportunity for three million patients for medical cannabis in Uruguay, and a Brazilian market of 3.4 million (New Frontier Data). Further, on Nov. 29, the company announced it had received authorization from the Colombian Technical Quotas Group (TQG) for the commercialization of medical use High THC cannabis for domestic and export purposes, including to Brazil, with manufacture to begin in Q1 2020.

VANCOUVER, British Columbia, Nov. 28, 2019 (GLOBE NEWSWIRE) -- PRESS RELEASE -- Isracann Biosciences Inc., an Israel-based company focused on becoming a premier low cost, high quality cannabis producer for both domestic and European export sales, has advised that it has received the requisite facility design and land use approvals from the Israeli Land Authority preparatory to construction permitting and awarding of building contracts for the proposed phase 1 build-out. Prior to commencement of construction, the company will require the approval of the Israeli Settlement Commissioner and the Israeli Ministry of Health. These approvals are pending.

Isracann’s plans call for the construction of greenhouse facilities in Nir, Israel. Isracann has finalized engineering drawings from AgroPlan Ltd., an architectural design firm with extensive cannabis experience. The company solicited and received detailed proposals from multiple cannabis specialty greenhouse construction firms within Israel (and abroad) that specialize in the design, construction and implementation in support of cannabis agricultural projects. Contract awards were predicated upon receipt of land use approvals and will now move ahead expeditiously.

Phase I involves the fabrication of two Isracann facilities totaling up to 115,000 square feet. Each of the greenhouses is based on a 57,500-square-foot floorplan with an estimated annual production capacity of 5,750 kg of dried cannabis flower. The facilities will be built to comply with the Israeli Medical Cannabis Good Agricultural Practices (IMC-GAP) and Good Security Practices (IMC-GSP).

Each facility is custom designed to meet or exceed regional environmental needs and is proposed to feature a highly ventilated framework with curtains on all four sides of the vaulted roof configuration. The structural designs are in accordance with Israeli standards (steel structure code 1225, load standards 412/1992 and 414/1982). The preliminary design was approved by the Israeli Ministry of Agriculture & Rural Development. The two phase 1 Isracann greenhouses will have an eight-foot-tall fence surrounding the facilities with an electronic gate for vehicular access for added security. Additionally, a closed-circuit television system will be installed to comply with Israeli Medical Cannabis Agency regulations.

The scope of the project includes a roof design employing polyethylene sheets specifically installed for cannabis cultivation in order to achieve maximum advantage of the unique sunlight exposure in Israel. The cooling and ventilation system utilize three types of fans that help control temperature, humidity and radiation throughout the entire facility. The packing facility includes offices with a built-in kitchen for employees, and a post-harvest area totaling 6,500 square feet featuring dedicated drying, curing and trimming rooms.

The San Francisco Office of Cannabis awarded its first social equity cannabis licenses to two dispensaries Dec. 17.

The much-anticipated permits were issued to Eureka Sky and Berner’s on Haight, according to the San Francisco Chronicle.

San Francisco’s equity program prioritizes cannabis license applicants who have been impacted by the War on Drugs, and it has taken nearly two years for final permits to be issued. The Office of Cannabis has six staff members who are working to process more than 200 equity applications, the San Francisco Chronicle reported.

“San Francisco is positioned to house a safe, and world class cannabis industry,” Office of Cannabis Director Marisa Rodriguez told the news outlet.

In Chicago, adult-use cannabis sales will begin Jan. 1—along with the rest of Illinois. The decision came Dec. 18 after Mayor Lori Lightfoot fought back against an effort by the city’s black caucus to delay sales and develop a more equitable minority business ownership plan.

The Chicago Aldermanic Black Caucus sought a six-month delay, so that local government could work within the state regulations to allow more social equity business applicants to get a leg up in the city’s seven “zones.”

READ MORE: In Chicago, Cannabis Industry and City Government Debate Two Approaches for Social Equity 

“We’re going to have differences of opinion, and that’s okay,” Ald. Jason Ervin, who spoke with Cannabis Dispensary earlier this month, told CBS after hours of debate on Dec. 18. “This is democracy, and we have that.” 

One concession that did materialize was some sort of pledge from Gov. J.B. Pritzker’s office to award two of the five remaining medical cannabis licenses to open “with strong minority ownership numbers,” according to the Chicago Tribune, in two Chicago neighborhoods. The idea here is that those medical cannabis businesses may have an easier time transitioning to adult-use licenses in the near future. 

“We all support the notion that we must have equity. It’s what I ran on. It’s what I talk about virtually every time that I make a public statement. We’ve been since October working with members of the Black Caucus to try to address their concerns,” Lightfoot told the Chicago Tribune. “The governor and his team met with them many, many times, made specific concessions to address the issues and concerns that they had, and in the words of one alderman, sometimes you have to just take a win. That’s what today is about.”

Up Kindness has a lofty mission to create a kind and sustainable future for all, and the Sacramento, Calif.-based nonprofit is making strides toward achieving this goal after a Dec. 15 panel discussion that brought industry stakeholders together to discuss the environmental concerns surrounding disposable vape cartridges.

The organization partnered with cannabis brand Big Karma and product design firm Canna Co-Operative to hold the discussion with statewide experts, which included panelists such as National Stewardship Action Council Executive Director Heidi Sanborn, GAIACA Waste Revitalization Director of Services Maria Espinoza, Zuber Lawler & Del Duca Law Managing Partner Tom Zuber, Big Karma’s Michelle Dougherty and NUG’s Dante Pasquini.

California law leaves most recycling plants unable to accept certain byproducts of the legal cannabis industry, Up Kindness Executive Director Shira Lane tells Cannabis Business Times. Used vape cartridges, post-extraction biomass and any form of THC were left uncategorized under the federal and state laws that govern hazardous waste.

During the organization’s recent panel discussion, experts discussed the need not only to categorize cannabis waste at the state and federal level, but also to manufacture vape cartridges in such a way that they are easy for recyclers to dismantle and process, Lane says.

“We’re using the word ‘disposable,’ where people believe they can throw these in the trash,” Lane says. “Really, you can’t. You can’t throw them in the trash. You can’t recycle them. There’s nothing you can do about them, and many people are just collecting them in their homes, not knowing what to do.”

VANCOUVER, British Columbia, Dec. 17, 2019 (GLOBE NEWSWIRE) -- PRESS RELEASE -- Isracann Biosciences Inc., an Israel-based company focused on becoming a premier low cost, high quality cannabis producer for both domestic and European export sales, has announced it has entered into an MOU for a joint venture with an additional farm property consisting of a late stage buildout of a cannabis cultivation facility in an agricultural center proximal to several licensed producers (LP’s) west of Be’er Sheva, Israel. Under the joint venture, the company will capitalize the buildout of the remaining construction in return for an economic interest in the project in compliance with Israeli laws. Terms of the joint venture will be released upon signing of a definitive agreement, which is subject to continued due diligence of the Be’er Sheva Farm by the company.

The Be’er Sheva Farm consists of over 880,000 square feet of agricultural land with two recently assembled steel greenhouse structures having a footprint of nearly 200,000 square feet. Upon full build-out the facility will represent an approximate 100% increase in the company’s current potential production capacity from its existing Nir Israel farm. The Be’er Sheva Farm also provides unused land with the potential for four times cultivation expansion capability. The new facility is designed to cannabis production standards and is ready to be enclosed with high quality application-specific polycarbonate cladding. The facility has all construction and land use permits in-place and an experienced and knowledgeable cultivation team which has local agronomic expertise with regional cannabis operations.

Isracann CEO Darryl Jones advises, “Our agronomic consultants brought this enterprise to our attention recently and the economics of the opportunity impressed us enough to move quickly to lock in a partnership. The facility is poised to greatly expand our existing footprint and advances our timeline to production by several months.”

Isracann has moved quickly to develop a definitive agreement subject to completion of commercial due diligence. A preliminary assessment by Isracann’s agronomic team projects full scale planting during the upcoming 2020 spring season. Initial production projections indicate a first-year yield consistent with the Company’s Nir Israel farm projected output.

Matt Chatterton, VP Operations for Isracann recently visited the Be’er Sheva Farm and comments, “We’ve been evaluating several opportunities to expedite our commercialization plans and based on my inspection of the property this farm offers the ability to shorten our time-to-market. The fundamentals are already in place, including building permits, and the basic infrastructure is already constructed which accelerates timing. Once we conclude our due diligence efforts, the proposed plan will be to advance the technical efforts including completion of the greenhouse and concurrently implementing a project characterization strategy in preparation to planting. There is still a lot of work to complete, but our efforts at our Nir Israel farm have already provided us with regional business relationships, experienced advisors, and extensive preparations that we can readily extend and implement across both locations.”

MADISON HEIGHTS, Mich., Dec. 9, 2019 /PRNewswire/ -- PRESS RELEASE -- Holistic Industries, one of the largest and fastest-growing private vertically-integrated cannabis operators in the United States, has announced that it will make a $20 million investment in Madison Heights for its Michigan headquarters. The investment includes transforming the currently neglected property at 29600 Stephenson Highway, the vacant Fairlanes Bowling property, into a beautifully landscaped, environmentally friendly source of pride and an engine of economic development for the city and its residents.

Holistic Industries will soon break ground on the 65,000-square-foot medical cannabis cultivation, processing and provisioning center. The facility will house Holistic's flagship retail location, which will be a desirable destination for customers and patients from across the metro Detroit area and the state of Michigan.

"Madison Heights has made great strides to increase economic development in the community, and with the cannabis industry in Michigan about to explode, we are thrilled Holistic Industries chose our city for their headquarters," said Mayor Hartwell. "We've seen Holistic's operating model in other locations and the positive impact they have on those communities, which is why we trust them to transform, beautify and revitalize a property that is currently a detriment to Madison Heights."

"I've seen the commitment Holistic has made to the communities they are a part of through local hiring, charitable giving, local law enforcement support, and earmarking annual contributions for continued economic development," said Jeremy Moss, State Senator, Michigan's 11th District, Representing Southern Oakland County. "I'm impressed by their economic development plans for the five-acre site on Stephenson Highway."

In addition to the beautification of the property and its surrounding area, Holistic Industries is committed to improving the communities they serve. Once the facility is close to completion there will be an emphasis on local hiring and training with more than 50 job openings for both hourly and salaried employees that include attractive benefits packages. As part of the company's investment in the community, Holistic will also establish the Reaching New Heights community investment fund to support local organizations and projects that will further the goals and priorities of the Madison Heights community.

DENVER and TORONTO, Dec. 18, 2019 (GLOBE NEWSWIRE) -- PRESS RELEASE -- Akerna Corp., a cannabis compliance technology provider and developer of the industry’s first seed-to-sale enterprise resource planning (ERP) software technology (MJ Platform), has entered into a definitive agreement to acquire all of the issued and outstanding shares of Canadian-based Ample Organics Inc. in a cash and stock transaction valued at up to $45 million (C$60 million).

Ample Organics serves over 70 percent of the Canadian market with its seed-to-sale platform and was recognized as the 19th fastest growing company in Canada by The Globe and Mail in 2019.  Just last month, Ample Organics was selected to deliver the world’s first national cannabis tracking platform in St. Vincent and The Grenadines in 2020.  The contract win, which was a competitive RFP process, is a testament to Ample Organics’ competitive position in Canada, the largest national market today. It is anticipated that the award will drive accelerated growth as international markets continue to pass legislation to legalize cannabis.

“The cannabis economy runs on Akerna. Our acquisition of Ample Organics solidifies our position as the global technology provider serving the industry,” said Jessica Billingsley, chief executive officer of Akerna. “This combination will provide Akerna with a significant advantage as we accelerate on our vision to create the pre-eminent global technology platform, addressing the entire supply chain and its regulatory bodies through accountability and transparency.”

With this acquisition, Akerna is further executing on its business strategy of complementing strong organic growth with select acquisitions of highly targeted and synergistic technology companies.

“As a company, we’ve grown by working closely with world-class technology companies, regulators, start-ups, consultants, and banking institutions to create a seamless business experience for the global cannabis industry,” said John X. Prentice, founder, and chief executive officer of Ample Organics. “We believe this transaction will result in tremendous synergies and opportunities for both Ample Organics and Akerna. We look forward to the many accomplishments and successes that we expect to share in the future.”

A group of aldermen voted Dec. 17 to send an ordinance to the Chicago City Council that would delay adult-use cannabis sales in the city for six months, according to the Chicago Tribune.

Although adult-use cannabis sales are slated to start statewide Jan. 1, the City Council Committee on Contract Oversight and Equity voted 10-9 to narrowly approve an ordinance put forward in October by members of the Black Caucus to delay sales until July.

The 20 members of the council’s Black Caucus have expressed concerns about inadequate efforts to help minorities participate in the adult-use cannabis market and earn their fair share of the generated revenue, according to the news outlet.

Eleven of Chicago’s medical cannabis dispensaries have been approved to serve the adult-use market Jan. 1, according to the Chicago Tribune, although Chicago’s cannabis industry and city officials have been debating Chicago’s approach to social equity in the months leading up to Jan. 1.

The full city council is set to vote on the caucus’s ordinance Dec. 18, the Chicago Tribune reported.

Kentucky Rep. Cluster Howard (D-Jackson) has pre-filed an adult-use cannabis legalization bill with plans to use the tax revenue to fund the state’s retirement system, according to a WKYT report.

The legislation would legalize personal cannabis use for adults 21 and older, and funnel 75 percent of the license and wholesale tax fees to the Kentucky Employees Retirement System and the other 25 percent to the Kentucky Teachers Retirement System, the news outlet reported.

The Alcoholic Beverage Control Board would be charged with overseeing the program and licensing cannabis cultivators, processors, testing facilities and retailers, according to WKYT.

The legislation also includes provisions that would decriminalize the possession of less than one ounce of cannabis and expunge cannabis-related misdemeanors, the news outlet reported.

Rep. Jason Nemes (R-Louisville) pre-filed a medical cannabis legalization bill in the state last month.

A petition for a proposed ballot measure that would legalize adult-use cannabis was filed with the Oklahoma Secretary of State last week, and organizers must now collect about 178,000 signatures to qualify for the 2020 ballot, according to a KFOR report.

The proposed measure, called State Question 806, is a constitutional amendment that would legalize personal cannabis use for adults 21 and older. The proposal renames the Oklahoma Medical Marijuana Authority as the Oklahoma Marijuana Authority, which would be charged with licensing and regulating an adult-use market in the state, the news outlet reported.

The ballot measure would enact a 15-percent excise tax on cannabis sales, and funds would be divided among the regulatory body, communities that allow sales, schools and drug addiction treatment programs, according to KFOR.

The measure also includes a provision to expunge certain prior drug convictions, The Oklahoman reported.

The Oklahoma Secretary of State must set the start date for signature gathering, and supporters will then have 90 days to collect the required number of signatures and qualify for the ballot, the news outlet reported.