Finding a location will likely be a challenge for those interested in starting one of Connecticut’s first recreational-use cannabis businesses, experts say.
WeedLife News Network
Hot off the press cannabis, marijuana, cbd and hemp news from around the world on the WeedLife Social Network.
An emergency state-level rule change doubled the number of cannabis plants that licensed growers can cultivate at one time, but some in the industry are concerned that the change is too little, too late to meet demand for the start of recreational sales in April.
Trilogene Seeds reports the “THC Null” cultivar simply “cannot make THC.”
A Colorado-based company claims it may have the solution for ensuring hemp does not run afoul of U.S. requirements related to THC: make sure the cultivar contains none of the psychoactive compound.
Hemp — which offers promise as a windfall for CBD production — needs to adhere to certain rules to be considered hemp at all.
The so-called 2018 Farm Bill, which was signed into law on Dec. 20 of that year, demands that hemp contain no more than 0.3 per cent THC “on a dry weight basis,” notes a fact sheet from the U.S. Food and Drug Administration.
In November, taxes for recreational marijuana sales in Arizona totaled around $5.05 million, slightly above medical cannabis tax, which amounted to $5.03 million.
Arizona continues to smash cannabis sales records, with yet another milestone of over $1.23 billion of marijuana products sold during the first 11 months of 2021, Arizona Mirror writes.
After soaring to record highs in October to nearly $58 million, adult-use recreational cannabis sales hit a new peak in November by surpassing $60 million for the first time. On the medical side, after reaching $73 million in March and April, sales fluctuated throughout the year.
When Louisiana's first legal smokable medical marijuana was made available on Jan. 1, patients like Corbet King of Wisner were excited about the product that they believed would be a more affordable option than tinctures, oils and edibles.
After all, affordability was one of the key selling points when the Legislature passed a bill last year to add the plant's unprocessed flower to the products that Louisiana's two legal growers and nine regional pharmacies could offer to patients.
But when King and other patients arrived at their pharmacies they were surprised to find the flower product in some cases was just as costly or even more expensive, depending on the pharmacy.
An effort by state regulators to rein in sale of intoxicating cannabis that can be produced with materials outside their authority has some major business interests crying foul.
The Washington Liquor and Cannabis Board has requested a change in the law that would explicitly permit it to prohibit the sale of intoxicating materials derived from hemp. The request comes on the heels of rulemaking started in earnest by the board last year after it was discovered that some of the state’s retailers were selling products including “delta-8 tetrahydrocannabinol (THC),” an intoxicant chemically similar to delta-9 THC found in adult marijuana plants, that had been produced from hemp, which was made federally legal following passage of the 2018 farm bill.
The company is by far the most significant REIT specializing in the marijuana industry.
The marijuana industry is not currently popular with investors, to put it mildly. That's having a knock-on effect with cannabis real estate investment trust (REIT) Innovative Industrial Properties. Despite being a consistently profitable company that doesn't actually grow or sell any weed itself, Innovative is being punished like its peers; its share price is down by over 15% so far this young year. A submerged stock price doesn't necessarily mean a company is a bargain, however. Let's explore whether Innovative stock is a good buy or a dangerous falling knife investors should avoid.
Holief™ is proud to introduce a new line of women's wellness products that reduce the symptoms of PMS and menstrual cramping. 80% of women suffer from painful periods and we believe it is time for that discomfort to end. Holief's plant-based products include naturally grown hemp extract products, which are effective in targeting the physical, mental, and emotional symptoms of the menstruation cycle.
Top Pot Stocks For Your Long Term Portfolio
Are you looking for top marijuana stocks while the cannabis sector is down? For almost a year the best cannabis stocks have been experiencing declines with most setting new lows in the last 2 months. For the most part, these declines can be attributed mostly to delays with federal cannabis reform in the US. As these delays continue the cannabis sector is pricing in 2022 without federal legalization or reform. In recent weeks one of the best performing parts of the cannabis sector has also experienced significant declines.
NutraLife Biosciences Inc. (OTC: NLBS) announces a feature article released by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, covering NutraLife’s rapidly growing expansion plans.
CBD has become one of the fastest-growing wellness products globally, reaching more than $11 billion in global sales last year. According to Market Data Forecast, these sales will continue to grow at a 22.2% annual pace to nearly $31 billion by 2026. As a result, companies building an early presence in the industry could be in a great position to profit.
More than a year after voters approved legalizing marijuana for recreational use in Montana, anyone older than 21 can now walk into a dispensary and buy cannabis. That has medical marijuana user Joylynn Mane Wright worried.
Wright lives in Prairie County, the state’s fifth-least-populated county, with nearly 1,100 people. She already drives about 35 minutes to get to the marijuana dispensary nearest her home, which is 2½ hours northeast of Billings. And now she wonders how much more difficult it will be to get the cannabis she uses to relieve the chronic pain she developed after a 2017 spinal surgery.
“I’m really worried about supplies and what it’s going to cost,” she said.
‘Not in my backyard,’ towns say
Around half of New York cities and towns don’t want marijuana dispensaries or consumption lounges, a cautionary signal for companies hoping to do business in the Empire State.
New York is expected to start recreational marijuana sales in the next year or so, likely becoming the second-biggest market after California, with around $4.2 billion in projected sales. Yet when given a Dec. 31 deadline to opt out of participating, 47% of the state’s 1,521 municipalities opted out of having dispensaries and 54% opted out of having consumption sites, according to data compiled by the Rockefeller Institute of Government as of Jan. 7.
One of the most influential groups helping set policy for New York’s legal cannabis industry is led mostly by farmers with little prior political experience — but with early success in representing small to mid-sized marijuana businesses, the group is punching above its weight.
Industry Waits On FDA Approval To Reach Its Full Potential, But Producers Are Still Hopeful
Across the country, bags of hemp grown as long ago as 2019 still sit in barns, waiting to be sold and extracted.
When the 2018 Farm Bill legalized industrial hemp, most growers grew hemp for cannabidiol (CBD) extraction, because it had a high profit-to-acreage ratio. With an estimated 455% increase in U.S. hemp producers, the CBD industry quickly found itself with a glut of product and not enough consumer demand. Moreover, there wasn’t enough processing capacity to make the crop profitable.
When discussing employment law in 2022, it is important to first consider its fluidity.
“What we’ve said today could change tomorrow,” says Catherine Wells, member and chair of the Chiesa, Shahinian & Giantomasi P.C. Employment Law Group in West Orange.
“Employers need to ensure they remain mindful and updated on all of the changes in the law to remain compliant,” adds Joshua Weiner, partner and co-chair of the Lindabury, McCormick, Estabrook & Cooper P.C. Employment and Labor Law Group in Westfield.
Pfizer wants in on the cannabis game. Will you be buying Pharma Weed? Most consumers say absolutely not.
You may not have heard the wonderful news. Our great overlords and global saviors at Pfizer announced their intentions to get into the medical cannabis market via their $6.7 billion acquisition of Arena Pharmaceuticals Inc. Of course, the giant pharmaceutical company has a lot of “expendable cash” available due to the pandemic.
Clark County officials are closely monitoring the state’s efforts to regulate cannabis consumption lounges, a process that will largely inform how the county sets its own expectations for the marijuana industry’s expansion.
When they open this year in Nevada as expected, following approval in the state Legislature last summer, lounges will provide locals and tourists with places to consume marijuana. But first, the state’s Cannabis Compliance Board must finalize regulations, which local jurisdictions may then strengthen if they wish.
Trulieve's acquisition of Harvest Health puts it in a neck-and-neck race with Curaleaf.
Today, two of the top companies in the marijuana industry are Curaleaf Holdings (OTC:CURLF) and Trulieve Cannabis (OTC:TCNNF). Both are cannabis producers with a presence in many states across the country, and they generated similar revenue in their most recent quarterly results. Trulieve has gotten a big boost due to its recent acquisition of Harvest Health, which closed last year and gave the company many more growth opportunities.
Below, I'll look at which business will likely bring in more revenue in 2022. That could be key in determining which stock generates better returns for its investors.
If dispensary is awarded, it will be at the former Family Video on Second Street.
Almost 40 companies have filed for a medical marijuana dispensary license for a facility to be located in Coshocton. The Ohio Board of Pharmacy recently released the company names and addresses for 1,462 applicants for 73 dispensary licenses to be awarded in the coming months.
About 230 entities submitted applications, with 16 submitting more than 10 applications each. A district containing Coshocton, Muskingum and Morgan counties was fifth overall with 101 licenses applied for, 38 were in Coshocton. Application cost was $5,000 each.
Big Rapids officials consider changes to ordinance
Big Rapids city commissioners are considering changes to the city's marijuana ordinance that could eliminate curbside service for businesses in the downtown area.
During a meeting this week, community development director Paula Priebe told the board there is a proposed substantive change to the marijuana ordinance regarding curbside sales and dispensing that she wanted to present to the board for feedback.
