Senator Jeremy Cooney of New York introduced a bill on July 20 that would build upon the state’s recreational cannabis law with a focus on getting cultivation up and running.
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Where some see desert, Cid and Medina Isbell see opportunity.
Standing on a plot on their 30-acre property just north of Madrid, they envision a greenhouse full of cannabis plants where brush, sunflowers and cactuses now grow.
They are among many hopeful entrepreneurs who see New Mexico’s upcoming legal market for cannabis production and sales — set to launch by April 1 — as a way to break into a new business with a potential windfall. The Isbells already have raised $200,000 toward their initial budget of $800,000, and they’ve hired a lawyer to help sort out legal issues.
Legal marijuana sales in the United States topped a new record in 2020, with a total of $20 billion.
Cannabis businesses are having no problem finding a solid customer base across legalized states. However, that doesn’t mean the industry is without its challenges.
Dispensaries must deal with lingering social stigmas and keep up with changing laws. They also have limited banking options due to federal laws. Additionally, online verification of customers presents unique challenges.
The hemp industry has made momentous strides since Congress passed the first piece of federal legislation reintroducing American-grown hemp to the U.S. marketplace in 2014. Over the last half-decade or so, an industry has been birthed, resulting in nearly every state in the country passing some type of hemp-related legislation.
While every state—excluding Idaho, as of press time—has passed some type of law legalizing the cultivation of hemp, many states have also expressly authorized the use of hemp and hemp-derived ingredients, including cannabinoids, in various consumer products, from foods and beverages to cosmetics to pet products.
Following the closing of the merger between Aphria and Tilray, Inc. (TSX: TLRY) (Nasdaq: TLRY), former Tilray CEO Brendan Kennedy took a backseat to Irwin Simon who was appointed as CEO of the combined company. Originally viewed on Technical420
After the transaction closed, Tilray appointed Kennedy as a Director and a Board Member of the combined company and we are favorable on his decision to remain involved with the advancement of the Canadian Licensed Producer (LP).
The company’s money and power could be a game-changer for federal cannabis policy.
When it announced its support for lawmakers’ efforts to decriminalize weed last month, Amazon didn’t just become the biggest company in America to back marijuana legalization, it captivated the cannabis industry in the process.
Now, as bills pushing legalization remain stuck in Congress, activists fighting for liberalized cannabis laws are hoping the e-commerce giant will take the next step and use its considerable D.C. muscle to help get them passed.
Medibis partnership with Israel-based cannabis company is the first step towards launching a cannabis product in Australia, and building its cultivation facility in Toowoomba.
Homegrown medicinal cannabis company, Medibis, is about to launch a range of cannabis medicines on the Australian market, following its efforts to raise funds via the crowd funding platform, Birchal. The company is also set to embark on research into cannabinoid-based medicines and says it’s excited about the prospect of discovering new treatments.
Medibis has also announced long-term plans to build a medicinal cannabis facility in Toowoomba, Queensland, as it sets eyes on the lucrative multi-billion dollar medicinal cannabis industry.
The Apalachee Regional Planning Council hopes to attract an industrial hemp processing plant to Florida's Big Bend. The council's Melissa Franklin says the nearest processing plant for the state's northwestern hemp farmers is more than three hours away.
"Having a processor within range of the farmers—it's an essential component. If you can't process the crop once it's been harvested, then it's dead in the water," Franklin says.
Franklin says bringing a plant closer to the region will help strengthen the local industry's supply chain.
The Kentucky Hemp Association (KYHA) has made its stance very clear regarding recent police raids on hemp stores in the state.
The KYHA alleges State Troopers last week raided two lawful hemp retail stores, looking for Delta-8 THC products.
While Delta-8 THC is a naturally occurring cannabinoid in cannabis, it is only present in very small quantities. But it can be created through the manipulation of cannabidiol (CBD) derived from hemp. The increasing popularity and availability of delta-8 is causing headaches for industry, lawmakers and law enforcement.
KYHA says the troopers seized “hemp products, money, cameras, terrorized the store owners and charged their employees with trafficking.”
Cannabis stocks were a growth machine for investors following the 2015 Canadian federal election. The hype for recreational legalization ramped up, and Liberal leaders Justin Trudeau managed to deliver on the promise. However, the reality of the rollout started to sour investors on the sector. As it stands today, the Canadian cannabis market is in desperate need of a boost to bring it back in the eyes of investors. Today, I want to look at Canopy Growth (TSX:WEED)(NYSE:CGC) and Aurora Cannabis (TSX:ACB)(NYSE:ACB), two top producers whose shares have plunged in 2021. Which is the better buy today? Let’s jump in.
Marijuana Company of America Inc. (OTCMKTS: MCOA) has completed a stock-for-stock acquisition of cDistro Inc. cDistro is a fast-growing distribution company in the hemp industry that will deepen Marijuana Company of America distribution footprint in North America.
MCOA acquires cDistro
Marijuana Company of America Inc. (OTCMKTS: MCOA) will operate cDistro as its wholly-owned subsidiary. The former shareholders of cDistro will hold 5.23% of outstanding and issued stock of MCOA and will gain additional stock in the next year if cDistro meets specific revenue targets. The acquisition is an arm’s length deal completed subject to meeting certain conditions that include execution of definitive agreement and completion of due diligence.
Originally viewed on Benzinga - Andrew Ward
Cannabis companies have never had a stable relationship with social media. The tense status has made cannabis a bit scrappier regarding social marketing, coded language and geotagging.
However, all too often, brands still face shadow bans, suspensions and account deletions. Pot-focused social media platforms and advertising options have come online but haven't gained traction like powerful platforms to date.
Following the closing of the merger between Aphria and Tilray, Inc. (TSX: TLRY) (Nasdaq: TLRY), former Tilray CEO Brendan Kennedy took a backseat to Irwin Simon who was appointed as CEO of the combined company. Originally viewed on Technical420
After the transaction closed, Tilray appointed Kennedy as a Director and a Board Member of the combined company and we are favorable on his decision to remain involved with the advancement of the Canadian Licensed Producer (LP).
As expected, marijuana-related arrests are down and tax revenue is up, but other trends are less clear.
ore than seven years since Colorado became the first state to allow cannabis to be sold at stores for recreational use, pot arrests are down, marijuana-impaired driving cases are up and school expulsions are both up and down.
Ayr Wellness Inc. (OTC: AYRWF) is buying Nevada-based Tahoe Hydroponics Company, LLC in a deal valued at $17 million. It is a cash and stock deal that will consist of $5 million in cash, $3.5 million in debt, and approximately $8.5 million in stock.
Over the past few years, we have witnessed the meteoric rise of the cannabis industry, brought about by the mass legalization and decriminalization of the plant across many US states. Amazingly, what was once regarded as a shady and often frowned upon recreational drug has now given birth to an indu...
Top Cannabis Stocks To Watch In This Market Downturn As the market pulls back significantly so are the best marijuana stocks to buy in July. After some upward momentum in June, the top cannabis stocks to invest in are trading at some of their lowest stock prices in 2021. With this drop in the cannab...
As a legal cannabis industry struggles to realize possibilities amid federal criminalization, investors will need to navigate a hazy minefield to pick potential winners Traditional vice sectors like tobacco and alcohol are investing heavily in the emerging legal cannabis industry, but commerci...
Photo by Justin Sullivan / Getty Images
A few weeks ago, Carol Bartz, former CEO of Autodesk and Yahoo, was all over the news after seed-to-sale cannabis company Caliva announced she was part of a group that had invested $75 million into the company, alongside NFL legend Joe Montana – found here talking about cannabis and football.
Surprisingly, the 70-year-old tech industry superstar, was very open about her cannabis use, disclosing her predilection not only for the super trendy, non-psychoactive CBD, but also for THC, the psychoactive compound found in cannabis that makes people feel “high.”
If you are wanting to cash in on New Mexico's green rush, it is not too late.
Linda Trujillo is the superintendent of the New Mexico Licensing and Regulation Department. She said those who want to grow cannabis should be able to get their provisional license by Aug. 22.
“The provisional license does not let you start functioning or operating as a cannabis business, but it does at least give you that assurance so that you can then go on and get the things that you must pay for and your local stuff and then come back to us and show us that you have got it and then get licensed to start operating,” said Trujillo.
Those wanting to sell will have to wait a little longer to get their provisional license.
