For me, my work with NORML is a civic duty. I care about fighting racism; about replacing a black market that empowers and enriches gangs and organized crime with a legal one that produces good jobs and lots of tax revenue; and about defending our civil liberty to simply enjoy the recreational use of marijuana if we want to.
The post TV Show Host and Travel Author Rick Steves to Chair NORML Board of Directors appeared first on NORML.
2020 was the first year weed became legal in the state of Illinois, and the demand just keeps coming.
According to the Sun Times out of Chicago, a total of $670 million of recreational marijuana was sold last year. Those are fantastic numbers, but the cherry on top is that this year seems to have the potential to reach the billion dollar mark.
Last January, the amount of marijuana sold was $39 million. Decent profit, but January 2021 reached $88 million. That’s more than double, and if this growth keeps up, a year of $1.2 billion in sales isn’t out of reach.
However, some are saying this upwards trend won’t likely be replicated month to month. “I wouldn’t expect constant upward trends every single month. It will be a combination of more consumers entering the market, some products ‘premiumizing,’ some products falling in price slightly and changes in consumer frequency of use,” says Alyssa Jank, an analyst at a cannabis research firm, Brightfield Group.
Promising signs, and despite apparent headaches during the application process, more and more pot shops are opening up in the state.
Read the full story at Chicago Sun Times.
The American Trade Association for Cannabis and Hemp, an industry trade and advocacy organization, has formed a new Cannabis Beverage Council to connect cannabis industry and beverage industry leaders focused on expanding the cannabis beverage segment. Hemp-derived CBD beverages will be a growing segment among consumers, accounting for up to $1.3 billion in sales by […]
A cosmetics executive has been tapped to take over California CBD manufacturer Papa & Barkley. Evelyn Wang replaces Adam Grossman as CEO. Grossman will lead the company’s board of directors. Wang comes from Milani Cosmetics. She was formerly an assistant vice president for L’Oreal Paris, and before that was Product Director for Neutrogena Cosmetics, part […]
This story appears in the January issue of Marijuana Business Magazine. Acquisitions remain a key strategy for companies looking to enter or expand their reach within the cannabis industry, but sellers must be ready to seize such opportunities. Owners who would like to exit the hemp space or join larger conglomerates should be ready to: Decide whether to engage a broker. Ensure their financial information is ready for close […]
A data breach at Aurora Cannabis has exposed the personal information of an unknown number of the Canadian company’s current and former employees, Marijuana Business Daily has learned. An email sent to a victim of the data breach cites a Dec. 25 “cybersecurity incident during which unauthorized parties accessed data in (Microsoft cloud software) SharePoint and OneDrive.” […]
This story originally appeared at Marijuana Business Daily. Canadian cannabis producer Canopy Growth Corp. is suing UK-based GW Pharmaceuticals in U.S. federal court, alleging that GW is knowingly infringing upon Canopy’s intellectual property. GW used a Canopy-patented method to extract the CBD that’s the active ingredient in its Epidiolex medication, according to a complaint filed […]
California’s new warning label as it appears on a La Vida Verde cannabis product. (Photo courtesy of La Vida Verde) A version of this story first appeared at Marijuana Business Daily. California’s hemp-derived CBD manufacturers are at risk of legal “whiplash,” one industry attorney says, after a new mandate requiring health warning labels for all […]
Aphria and Tilray, two Canadian giants in cannabis, have agreed to combine operations and form an international bohemoth with combined equity value of approximately 5 billion Canadian dollars ($3.9 billion). The merged entity includes Manitoba Harvest, a Winnipeg maker of hemp food products that was acquired last year by Tilray. Based on data reported by […]
Hemp businesses won’t benefit directly from the $150 million raised by a special-purpose acquisition company that was initially established in hopes of investing in and further developing the U.S. hemp market. But a deal was made in the spirit of aligning the industry with large manufacturers in the future, according to Geoff Whaling, president of […]
