WeedLife News Network

(image: Inside a GrowGeneration hydroponic garden center. Source: GrowGeneration)

GrowGeneration Corp., the largest hydroponic garden-center chain in North America, is on a tear worthy of its name.

The gardening supply company has gained over 700% so far this year, making it the best-performing cannabis stock of 2020 amid a sector-wide rally on hopes the U.S. is poised for federal legalization after the election.

Investors are drawn to the $1.6 billion retailer, which sells equipment used to grow pot, as it’s one of the few U.S.-based cannabis plays listed on the Nasdaq. It’s also free of the legal risks that growers pose as it doesn’t actually sell the plant itself.

Marijuana firm Aurora Cannabis (TSX:ACB)(NYSE:ACB) has entered into one of the biggest medical cannabis supply deals by a Canadian pot grower with an Israeli firm to-date. This comes after the Canadian marijuana firm announced its two-year supply agreement with Cantek, a leading cannabis market player in Israel.

Aurora Cannabis said it “intends” to supply a “minimum of 4,000 kilograms of bulk dried cannabis flower” per annum to Cantek in a two-year deal that could be extended. The volume involved could make the ACB deal one of the largest export deals to Israel by a Canadian firm to-date.

Commissioners seem ready to close out a bumpy policy-setting process next week with a vote to adopt new regulations that would reshape the legal marijuana industry to include a home delivery aspect, but that decision could give way to a legal challenge in short order.

Through an attorney, some existing marijuana retailers recently threatened to sue the Cannabis Control Commission if it votes to adopt its latest set of industry rules on Monday, as is expected. Though the new regulations affect the entire marijuana industry, the provisions that would allow a new class of licensees to deliver marijuana to customers at home have drawn the most controversy.

If passed, the measure will improve Mexico’s living conditions while reducing drug trafficking crime. However, cannabis advocates and legal experts have several concerns.

The luscious green plants stretch as far as the eye can see. Row after row, lovingly tended in a glasshouse that’s roughly the same size as 34 football pitches.

Thought to be one of the UK’s largest glasshouses, the 45-acre glasshouse in Wissington, Norfolk, sits in an area known for the growing of crops, vegetables and fruit, from peas and beans to tomatoes and strawberries.

But this crop is slightly different. Once filled with tomato plants, the glasshouse owned by British Sugar is now home to hundreds of thousands of cannabis plants grown for the pharmaceutical company GW Pharmaceutical.

Legal cannabis continues to become a new reality in states throughout the U.S., giving lawmakers the unique challenge of installing a regulatory system on newly established marijuana markets. 

California is largely seen as the leader of the cannabis industry (both legal and illegal) due to the state industry’s size, experience, and innovative spirit. But the growing pains experienced by California’s legal cannabis market in its first four years offers essential lessons to states that are actively setting up their cannabis programs for the first time. 

Here are some issues newly legal states should tackle to ensure a smooth transition. 

The day before Thanksgiving has a bit of a sordid history. Back in 2007, the day was coined ‘Drinksgiving’ or ‘Blackout Wednesday’ by college students flocking back home to be with family for the holidays. Unfortunately, it is also a horrifically common night for drunk driving accidents, surpassing New Year’s Eve by a longshot.

‘Tis the season for America’s favorite foodie holiday, and whether turkey, tofurkey, or none of the above are on the menu, this is sure to be a Thanksgiving like no other. With Covid-19 spikes turning the U.S. map red and growing concerns about the capacity of states to handle an even higher coronavirus positivity rate if citizens choose to gather, some thought leaders in the cannabis industry are taking a stab at predicting the impact on Thanksgiving sales.

In the Nov. 3 election, voters in New Jersey voted to legalize cannabis for recreational and/or medical use. As the marijuana industry continues to grow generating jobs and profits in New Jersey, CPAs have been asked to provide their services to businesses that cater to the ever-growing industry–but this is uncharted territory.

Precision® Extraction Solutions ("Precision"), the world leader in cannabis and hemp extraction technology, today announced a strategic partnership with Pressure Safety Inspectors (PSI). Through the partnership with PSI, Precision is launching a safety and certification program that will streamline compliance when buying Precision extractors.

A large scale East Ladner greenhouse which made the switch from vegetables to cannabis has deal to utilize renewable natural gas from the Vancouver Landfill.

Village Farms International Inc. announced its wholly owned subsidiary, Village Farms Clean Energy Inc., has renewed and expanded its existing contract with the City of Vancouver, which operates the landfill in Delta, under which the greenhouse receives captured landfill gas.

The plan is for Village Farm to significantly reduce its reliance on natural gas to produce CO2 in its operations, transitioning and converting landfill gas into renewable natural gas (RNG), which will also generate food-grade liquid CO2.

Industry insiders believe Democrat-held Congress would likely take up the SAFE Banking and MORE Acts, generating long-term market effects.

Despite ongoing attempts by the Trump Administration to delay the transition, President-elect Joe Biden and Vice President-elect Kamala Harris are expected to take power on January 20, 2021, creating an impact on the cannabis stock market that could be substantial. 

Will Rhode Island be the next state to legalize cannabis?

Many liberal, New England states have turned to recreational or medical cannabis to bring in some extra revenue, and now, in light of the budget deficit in the state, Rhode Island is talking about legalization as well.  

Currently, the state is projecting a possible $114.4 million deficit in the state’s economy, and analysts are getting worried. In response to that, a Senate Finance Committee in the state is considering Democrat Gina Raimondo’s proposal to allow the sale of cannabis legally within state borders. 

In over 16 years in the NBA, Al Harrington played in more than 1,000 total games, made an appearance in 55 playoff matches, and scored over 13,000 points.

However, just by speaking to him, you’d be convinced that he wants to be known more for his success as a cannabis entrepreneur than his time on the court.

In 2011, while the former first round pick was still playing for the Denver Nuggets, Harrington launched Viola Brands, a cannabis company with a focus on social equity, named after his grandmother.

The move showed tremendous foresight by the former player, especially considering the widespread cannabis boom the city would see just a few years later.

But, distributors could be faced with an even bigger issue.

There's no definite timeline for when medical dispensaries will be able to make the transition, but when they do, they may not be able to meet the high demand for cannabis.

Spencer Andrews is a public affair director for March and Ash, a dispensary in Imperial County. He addresses an important matter that happened when California made the switch.

"What we saw in California was a shortage in the supply chain. I mean, you're just working with many aspects of the supply chain: manufacturing, cultivation, testing, distribution," Andrews explained. "All of these ancillary services have to get up and running and be able to meet the demand."

All of these steps take time.

As consumers increasingly shift to online ordering, click-and-collect, curbside pickup, and delivery, dispensaries must begin leveraging digital advertising options to drive online orders, keep their brands top-of-mind, and increase total sales revenue.

The Alabama Department of Agriculture and Industries (ADAI) wants to remind eligible hemp growers and processors/handlers the deadline to apply for a hemp license for the 2021 crop is November 30, 2020 by 5:00 pm (CST). ADAI will accept hemp applications using their new online application system: agi.alabama.gov/hempapp.

Montana made recreational cannabis legal this past election, and now, they’ve begun the process of licensing, already looking ahead to the future of the recreational industry. 

If Virginia legalizes marijuana, sales could generate up to $300 million in annual state tax revenue and create 11,000 jobs, according to a Joint Legislative Audit & Review Commission (JLARC) report issued Monday. But legalizing the drug would not be without hurdles.