(This story has been updated to correct production volume and sales figures.) The wellness trend has taken hold among consumers, creating ample opportunities for hemp entrepreneurs. But what does this trend mean for foods made from hemp grain, and how can business leaders capitalize on consumers’ increasing interest in their health and wellness? Hemp Industry […]
Anyone who lives in or near Massachusetts, raise your hand. Better yet, take a drive to Brockton and check out the very first Cannabis dispensary owned by a Black woman. Called Legal Greens, Vanessa Jean-Baptiste opened her doors this past Sunday and spent the day greeting customers in a line that started at 8 a.m., […]
This story originally appeared at Marijuana Business Daily. When Canopy Growth introduced its CBD drink brand, Quatreau, to the U.S. market on March 2, the Canadian cannabis producer also announced its newest brand ambassador: American astrologer Susan Miller. Ambassadors and celebrity partnerships are familiar terrain for Canopy, already known for its ties with Seth Rogen, […]
These folks answer to their shareholders, At NORML, we answer to you.
The post Big Alcohol and Big Tobacco Coalition Emerges to Shape Legalization in Their Favor appeared first on NORML.
In Mexico, a country facing issues with feuding drug cartels, a bill that decriminalizes marijuana is making its way through congress.
The draft bill made it through two special committees and is now on its way to the full chamber. It has backing from President Andres Manuel Lopez Obrador, so approval seems like it is around the bend.
A few outside companies have stated their eagerness to take part in a newly legal Mexican landscape, including Canopy Growth, Khiron Life Sciences, and The Green Organic Dutchman.
This bill could potentially have lasting ripples throughout the crime scene of Mexico, where drug cartels have run rampant in recent years. Although most of their focus has been on narcotics in the region, decriminalizing marijuana could be a stepping stone for larger narcotic decriminalization acts, which the President is in approval of.
Read the source at Reuters.
Imposing such a blanket ban on higher-potency products will not eliminate demand for these products, but it will succeed in driving this market underground — making it unregulated and unsafe.
The post NORML Responds to Growing Calls to Re-Criminalize Higher Potency THC Products appeared first on NORML.
Last year, co-founders of MedMen Adam Bierman and Andrew Modlin were both ousted from MedMen. After misusing business money for security and glamour, investors chose to sue and the two were forced to distance themselves from the company.
A centerpiece article was written for Politico, making the whole debacle national news. So, it comes with a bit of a surprise that they are so quickly able to get back on their feet and tie themselves to a new venture.
For several months, they have been working with Coastal Dispensary, which works in retail and delivery in Southern and Central California. According to the CEO of Siva Enterprises who spoke to MJ Biz Daily, “[Bierman has] been going around to retailers and investors and pitching a retail-management concept, sort of along the lines of MedMen 2.0.” So a case of “ain’t broke, don’t fix” mentality.
Despite the controversy surrounding the way they spent funds, their success and entrepreneurial abilities may be too good to pass up for some. Their marketing for MedMen was second to none, including very active billboard campaigns, and a commercial directed by Spike Jonze.
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Read more at MJ Biz Daily.
In a continuation of a pattern that we see happening from time to time with members of the federal government, Congressman Yarmuth, Democrat from Kentucky, seemed to benefit from insider knowledge of an expected stock bump when he bought between $1,000 and $15,000 worth of marijuana stock before announcing the MORE act to Congress, which stands for the Marijuana Opportunity Reinvestment and Expungement Act. This was all uncovered in an investigation done by Popular Information.
It is only required for lawmakers to give a range of the amount they invested so we can’t be sure how much Yarmuth had invested, but between the stocks for Canopy Growth, Aurora Cannabis, and Tilray he spent up to $15,000. Since December, these stocks have risen in value significantly, with Tilray rising 3.5 times in value.
In the past, we’ve seen Senators sell stocks as inside knowledge gave them a headstart before the pandemic hit.
Illinois has a program called R3, which stands for restore, reinvest, and renew, that is funneling funs made from marijuana services into paying for public schools in the state, according to Ganjapreneur.
In total, about $858,669 has been allocated so far. This money is going towards legal aid for students, helping incarcerated youth back into society, career coaching, reproductive education, and more programs to help students.
“R3 is so important to me because I felt that it was critical that if we were going to be legalizing a product that has been used for the last 80 years to penalize largely Black and brown people, it was incredibly important that we took some of the resources of the sale of this product and begin to reinvest it in repairing some of those same communities that had been torn down by the war on drugs,” said State Rep. Jehan Gordon-Booth, who aided in the creation of the R3 program.
And that six-figure amount is only what has been allocated for public schools. In total, the program garnered about $31 million of funding for the state, and they expect the number to potentially raise to $65 million in the next year.
Read the source at Ganjapreneur.
In a very long delayed move, New Jersey has finally passed legal marijuana after their Governor signed multiple bills this morning.
Governor Phil Murray was waiting on a proposal that detailed punishment for underage users, and once that reached his desk, he signed all of the bills into law. This is included cannabis legalization, decriminalizing small amounts of marijuana possession, limiting the use of previous marijuana convictions, and creating a regulated cannabis marketplace.
Marijuana will now be legal in NJ.
We’re one step closer to ending this unjust, failed war on drugs that has systematically targeted Black & Brown people & the poor across our state & nation.
Grateful for @GovMurphy, NJ leadership & advocates who fought so hard for this day. https://t.co/nJprUIYq9s
— Sen. Cory Booker (@SenBooker) February 22, 2021
The legislation has been delayed and pushed back on ever since it was approved by voters in November, but things were looking good last week when Governor Murphy signaled he would sign the law as long as specific and appropriate punishment was detailed for those underage caught with marijuana. A written warning and small fine was eventually agreed upon.
Congrats, New Jersey!
