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On February 2, 2022, Governor Tate Reeves chose to sign SB 2095 into law, making Mississippi the 37th state to adopt medical cannabis laws. On January 26, 2022, the state legislature passed SB 2095, their watered down vision for medical cannabis in Mississippi. . ASA strongly opposes both of these provisions.
After a strong 2021, all signs are pointing to an even bigger year for the cannabis industry in 2022. According to a report from Marijuana Business Daily, U.S. legal cannabis sales are predicted to surpass $30 billion in 2022. Accessibility isn’t just great for consumers either.
In May 2022, a bipartisan pair, Rep. introduced a never-before-seen bill—the Capital Lending and Investment for Marijuana Businesses Act (“the CLIMB Act”). What Business Services Would the CLIMB Act Protect? 8200 intends to cover most if not all standard business services. Troy Carter (D-La.) Guy Reschenthaler (R-Pa.)
What role will cannabis play in the USA 2022 midterm elections? This legislation would provide cannabis companies access to financial services. The post Cannabis in the US Midterms (2022) appeared first on Cannabis | Weed | Marijuana | News. America’s cannabis industry hopes to see the SAFE Banking Act passed.
Banking has been a hurdle for cannabis businesses since the birth of the industry. Despite the fact that these businesses are state-legal, financial institutions have historically hesitated to work with them due to cannabis’ federally illegal status. It also did not normalize federal taxation for businesses within the sector.
Drug Enforcement and Policy Center, August, 2022. 21 Pages Posted: 12 Aug 2022. Date Written: August 11, 2022. But unfortunately, SAFE, as written, is unlikely to result in equitable access to financial services. Promote compliance with state and local regulatory requirements regarding business ownership.
CSE: AUSA) (OTC: AUSAF) (“AUSA” or the “Company”), doing business as AUDACIOUS, today announced that the Company has filed its unaudited financial statements and management discussion and analysis for the first quarter of fiscal year 2022, the period ending June 30, 2021. Q1 FY 2022. Q1 FY 2022. Q1 2022 Overview.
While these businesses would benefit from being properly insured just like other businesses in America, they face the hurdle of current federal regulations against cannabis that label it a Schedule I controlled substance with no medical purpose and a high addiction rate.
The Cannabis Business Office (CBO) creates new economic development opportunities, local job creation, and community growth for the diverse population across Colorado. The office will offer resources that are otherwise unavailable at the federal level, including technical assistance and access to capital for businesses in all stages.
This makes the sixth time the House has passed a provision allowing cannabis businesses to access the federal banking system. The Hemp Advancement Act of 2022 would allow hemp to contain 1% THC, up from 0.3% The House of Representatives passed the America COMPETES Act late last week, with the SAFE Act as an amendment.
Adjusted EBITDA loss in Q1 2022 was $64 million , a $29 million narrower loss versus Q1 2021 driven by higher sales and lower operating expenses. Adjusted EBITDA loss in Q1 2022 was negatively impacted by a $10.1 First Quarter Fiscal 2022 Financial Summary. (in Highlights. in millions of Canadian. dollars, unaudited).
DCC needs to present a report to the Governor by July 1, 2022 that outlines the steps necessary for the incorporation of hemp products (and cannabis products with hemp cannabinoids) into the cannabis supply chain. 2022 brings four significant deadlines for California cannabis license applicants. Trade Samples.
The Hot Box Pitch Contest is an event at the Black CannaConference that seeks to bridge the gap by making it easier for fledgling business owners to showcase their ideas to high-level financers. It is patently obvious that minorities have a true lack of access to capital. The 6 best home decarboxylation machines for 2022.
Indeed, that lab closed in 2022, largely, according to former president Antonio Frazier, because “lab shopping” clients went elsewhere seeking more positive results. It’s hard to hold anyone accountable when they’re an illegal business to begin with,” he says. Of course, that language doesn’t say they were actually tested by CannaSafe.
The 2022 general election saw cannabis on the ballot in 32 municipalities across Michigan. With the votes tallied, it appears that 13 municipalities voted in favor of initiatives to expand cannabis access that were on the ballot. Chesterfield Township , Macomb County – voted to allow the city to set the number of cannabis businesses.
Social equity programs are designed to support equal opportunity in the cannabis industry by making legal cannabis business ownership and employment opportunities more accessible to low-income individuals and communities most impacted by the criminalization of cannabis. However, the guidelines do not address a social equity platform.
The state is in the process of finalizing regulations for these businesses, and licensing is expected to happen after. Whether or not these businesses will open in 2022 remains to be seen. The dispensary sells safe, medical-grade cannabis sourced in environmentally friendly methods with inclusive business practices.
The organization has, they say, ……evaluated patient access, affordability, equity, and product safety. With a decline in legislative improvements in state medical cannabis programs, millions of patients are left with limited or no access,” ASA Executive Director Debbie Churgai said. “It Pennsylvania State Rep.
Construction will begin in Q3 2021 and is expected to be completed in Q4 2022. To that end, as CEO, I am more confident than ever in our strategy, fundamentals, asset base, and current growth ramp of our business as we look ahead to 2022.”. Business Updates and Developments. The webcast can be accessed at this link.
The result: Cascading business failures across the industry. In May 2022, there were close to 1500 brands in the market, according to Headset. A 2022 report estimated that licensed California cannabis distributors are sitting on over $600 million dollars in aging accounts receivable that retailers are unable or unwilling to pay.
This data helps Californians understand the work we have ahead of us in realizing the promises of cannabis legalization, including supporting access to a safe, legal, and equitable cannabis market across the state and combating the unregulated, illicit market”. — CA Department of Cannabis Control (@CAcannabisdept) May 26, 2022.
The Core Business delivered strong organic growth 13 in H1 2021 (17% year-on-year) despite some of Eurofins’ businesses remaining affected by lockdowns during H1 2021. With organic revenues 13% above H1 2019 in H1 2021, Eurofins’ Core Business is once again leading the TIC industry in terms of organic growth.
CRCC’s paper, published by the Ohio State University (OSU) Moritz College of Law, is titled “Not a SAFE Bet: Equitable Access to Cannabis Banking, An Analysis of the SAFE Banking Act.”. Drug Enforcement and Policy Center, August, 2022. 21 Pages Posted: 12 Aug 2022. Date Written: August 11, 2022. Cat Packer.
Let’s explore: Arkansas Issue 4, Marijuana Legalization Initiative (2022). Existing medical cannabis business license holders would also be authorized to sell cannabis at their existing locations and could launch one new location strictly for commercial sale. Maryland Question 4, Marijuana Legalization Amendment (2022).
Four members of Congress introduced a bill allowing the marijuana industry to access relief funds. Four members of Oregon’s Congressional delegation recently introduced a bill to allow those in the marijuana industry to access federal relief funds. The Small Business Disaster Relief Equity Act seeks to change that.
During a traffic stop an officer cannot use the smell of burned cannabis as probably cause to search parts of the car not readily accessible to the driver. Dispensaries won’t open until at least the first half of 2022. The plants merely have to be “in a secured place and not accessible to any person under the age of twenty-one.”.
What constraints does the MRTA place on the location of these businesses? Applicants for licenses will also be evaluated based on how they minimize environmental impacts in the course of conducting their business. Licensing Considerations for Adult-Use Cannabis Operators in New York.
consumers support all legal cannabis businesses — including hemp and CBD — having access to banking services. 65% support allowing cannabis businesses to access banking services (e.g. checking accounts, business loans) in states where cannabis is legal. 8 MARCH 2022. SOURCE US HEMP ROUNDTABLE.
Numerous states in 2021 also enacted legislation expanding medical cannabis access and stimulating greater diversity among licensed marijuana businesses. “As With respect to medical cannabis policies, numerous legislatures took steps in 2021 to expand patients’ access to marijuana products. MEDICAL MARIJUANA ACCESS.
Simplifya Offers a Suite of Comprehensive Compliance Solutions for Cannabis Businesses in New Mexico Ahead of Adult-Use Sales Launch. In 1978, New Mexico was the first state to pass a law that allowed medical marijuana use, but patients could only access cannabis through a federally approved research program at the time.
While existing medical cannabis and cannabinoid hemp companies may continue to do business under the state’s existing (pre-MRTA) rules, adult-use cannabis business will not be able to operate lawfully until they are licensed by OCM/CCB. Overview of Adult-Use License Types, Requirements, and Restrictions.
11 April 2022. Three amazing interviews and we start with Tia of Ask Growers who is now back in Kyiv after we interviewed her a couple of weeks ago in Lviv, and yes, she’s working with the rest of her team to keep Ask Growers alive even though she’s got no heating and the electricity internet access is intermittent.
So now that medical marijuana is finally available in Ohio, how do you get an Ohio MMJ card in 2022? How Do I Get My Ohio MMJ Card In 2022? Once the doctor has verified your suitability for MMJ treatment, they will sign an Ohio Medical Marijuana certification form and email it to you within two business days. Yes, you can!
Company Announces Strategic Decision to Sell Packaging Business, Make Final Transition to a Consumer House of Brands. Revenue for Q2 2022 increased 15% to $39.9M, compared to $34.7M For the six months ending June 30, 2022, revenue was $86.5 Adjusted EBITDA loss for Q2 2022 was $5.8 Recent Highlights: Financial Results.
In 2022, the landscape of the legal cannabis industry is still as homogenous as ever, and it’s getting worse. A 2017 survey from Marijuana Business Daily found that 81% of American cannabis business owners and founders were white and 10% of cannabis business founders identified as Hispanic/Latino or Black.
Cannabis Business Executive reports that people (read countries) are getting heartedly sick and tired of the United Nations Commission on Narcotic Drugs (CND) and their Stasi-like approach to being public about any decisions never mind the one that matters, the issue of re-scheduling. CBE write.
The cannabis tax reform trailer bill will: Indefinitely suspend the cannabis cultivation tax effective July 1, 2022. Create new tax credits for equity licensees and some cannabis businesses with stronger labor standards. You can access the bill language here. Strengthen labor peace requirements.
A Flurry of Cannabis M&A Activity in 2022. That is the best way to describe the pace of the cannabis industry in 2022. Incannex was one of the first ASX-listed companies to make forays into cannabinoid and psychedelic therapeutic drugs (it was originally a direct-to-consumer dental business, which disrupted the dental space).
Ohio’s House speaker said he thinks there will be “significant opposition”to marijuana legalization bills in the 2022 session, but that there will also be “some significant support in some corners.”. California regulators proposed emergency rules to waive licensing fees for cannabis equity businesses.
Legalization was initially scheduled for the state’s 2022 ballot. These first licenses are earmarked for existing medical cannabis businesses and social equity-eligible operators. Polls from around the time the signatures were gathered showed that about 58.6% of Ohioans wanted legalization.
24, 2022, the state completely removed the qualifying conditions list that patients used to have to adhere to in order to qualify for the medical cannabis program. This has caused a long list of issues, such as unregulated businesses serving the general public. Medical cannabis has been legal in the state since 2014.
Reiterates Adjusted EBITDA Profitability Run Rate by December 31, 2022. Reaffirms $150 to $170 Million in Annualized Cost Savings by December 31, 2022. Million in Q4 2022. 20, 2022 /PRNewswire/ – Aurora Cannabis Inc. (the of Aurora’s Q4 2022 consolidated net revenue 1 and 86.3%
The platform is easily accessible by mobile and desktop. Sessions held throughout the day cover genetics, human health, livestock as well as business, education, and product manufacturing related to cannabis. The conference is hosted by the platform Whova. There are 188 attendees at this morning’s (08/08) opening presentation.
Cann Group has executed final documentation to enter into a A$15 million working capital facility with National Australia Bank (NAB) to help scale the business and fund its long-term growth strategy. Terms have been negotiated for an initial period with a review on November 30, 2022 and for rolling 12-month periods after that.
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