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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.
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.
This year our office wrote about the various legislative and policy changes – We break down 2021’s highlights below. 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.
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.
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).
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.
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.
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.
8, will see voters render a verdict on a broad scope of drug policy reform issues via their midterm ballots. Let’s explore: Arkansas Issue 4, Marijuana Legalization Initiative (2022). An extra 40 licenses would be distributed to businesses via a lottery process. Maryland Question 4, Marijuana Legalization Amendment (2022).
State legislators in 2021 enacted over 50 laws liberalizing marijuana policies in more than 25 states, according to a report issued today by the National Organization of the Reform of Marijuana Laws (NORML). These policies are popular among voters, regardless of political party.”. MEDICAL MARIJUANA ACCESS. FULL REPORT.
The successes of cannabis businesses are now a part of the mainstream conversation and considered big business, while the rights and protections for medical cannabis patients have been sidelined. So while a cannabis business can join their local chamber of commerce, a patient in hospice can be denied access to medical cannabis.
Mark Barnett, Policy Director at the Maine Craft Cannabis Association. With federal legalization on the horizon, it’s critical that craft cannabis producers organize across state lines to ensure that federal policy includes a level playing field for small and independent businesses.”. 14, 2022 by Rep.
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.
Budget 2022. On April 7, Deputy Prime Minister and Minister of Finance Chrystia Freeland presented Budget 2022 laying out the Government of Canada’s fiscal roadmap. Canada’s cannabis license holders applaud Budget 2022. They write by way of introduction. Growth-oriented cannabis strategy table. Excise Act Amendments.
What constraints does the MRTA place on the location of these businesses? Applicants who do not qualify as social or economic equity applicants should be considering how their operations might meet the policy goals of MRTA, because the legislation’s licensing framework includes several criteria focused on social and economic equity.
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. Thank you, Nicole Elliott.
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).
2020 also saw state legislation that prevented financial institutions from being penalized for housing the funds of cannabis businesses. Edwards signed a bill in June allowing medical patients access to cannabis flower rather than just concentrates, which will go into effect in January 2022. Signs of New Times.
If elected as Texas’ new governor, O’Rourke strives to “ensure every American can live to their full potential because they have the health care, the education, the access to a high-quality job that pays a living wage, and the access to equal opportunity that they need to thrive fully.”
The promotions all take effect January 1, 2022. She helped establish and currently co-leads the firm’s Banking and Financial Services Department, and she is a member of the National Cannabis Industry Association’s Banking Access Committee. Ullian will be promoted to counsel. View her full bio at [link]. and around the world.
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.
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.
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.
Kind Idaho Chair Jackee Winters is laser-focused on qualifying the group’s medical cannabis legalization initiative for the state’s 2022 ballot in order to help her daughter, who suffers from a brain tumor, get legal access to cannabis. It’s time for Idaho to grow up,” she told Cannabis Business Times and Cannabis Dispensary.
As of late 2022, growers were starting to worry about the quality of their weed going up in smoke. Growers are hurting financially because of this, and the public has very limited access to weed. Today, much of our federal government still supports this outdated, archaic policy. Retail cannabis was legalized in 2021.
Monday, January 31, 2022. We have written many times over the past few years about how the bankruptcy courts are off-limits to state-legalized cannabis businesses. For these reasons, the court concluded that enforcing the parties’ contract would likely neither violate the CSA nor public policy. Factual Background. E.g., Polk v.
Sales could begin in May 2022. The Marijuana Policy Project played a leading role in the fight to reform Connecticut ’s cannabis laws. This victory will add to the momentum towards cannabis policy reform in other states and at the federal level,” said Karen O’Keefe, director of state policies for the Marijuana Policy Project.
February 15, 2022. While I’m proud of so much of the work we have done to increase access to cannabis for tens of millions of people across the country, in hindsight, it’s clear that Parallel has not handled the social responsibility that came with being in such a privileged position in the markets we serve. Announcements.
June 15, 2022. Further, the settlement requires the licenses be fully transferred by the end of November 2022 or they will be automatically surrendered on Dec. The CDTFA auctioned three commercial properties related to illegal cannabis operations between March and May 2022, for a total of $616,000. On June 8, 2022, the U.S.
Kind Idaho Chair Jackee Winters is laser-focused on qualifying the group’s medical cannabis legalization initiative for the state’s 2022 ballot in order to help her daughter, who suffers from a brain tumor, get legal access to cannabis. It’s time for Idaho to grow up,” she told Cannabis Business Times and Cannabis Dispensary.
As bankruptcy is only available under federal law, this dichotomy between state and federal law can result in actions that potentially preclude businesses and individuals from accessing the protections afforded under the U.S. Businesses can utilize Chapter 11 to complete a reorganization or a liquidation. James Atchison.
It also became easier to access and order cannabis. In almost 30 states , dispensaries were deemed essential businesses. With social distancing regulations, many businesses pivoted to online ordering and curbside pickup, making it even easier for people to get their weed. Okay, not everyone was getting high in 2020.
These states haven’t made major headlines for their progressive cannabis policies, but together they constitute a major market that has, nevertheless, dipped its toe in the water. The AMCC anticipates that applicants may submit licenses to grow and/or manufacture medical cannabis on September 1, 2022.
However, qualifying patients were forced to wait until 2013 to access the state’s licensed dispensaries for their medicine. Retail cannabis stores are set to open their doors in the spring of 2022. For the time being, only registered medical cannabis patients can access legal cannabis. Introduced by Reps.
Kind Idaho Chair Jackee Winters is laser-focused on qualifying the group’s medical cannabis legalization initiative for the state’s 2022 ballot in order to help her daughter, who suffers from a brain tumor, get legal access to cannabis. It’s time for Idaho to grow up,” she told Cannabis Business Times and Cannabis Dispensary.
Led by WeedTube.com, the petition has the goal of 1 Million signatures to end the censorship of cannabis on Instagram and develop best business practices for content creators. The petition is being led by WeedTube who lost access to their Instagram account in November for the second time.
Here’s a breakdown of seven federal bills on the docket – plus one state measure – and a look at why they’re important to hemp farmers and business owners. CBD products are exploding in popularity, but the lack of federal regulation surrounding them has put consumers at risk and left businesses looking for clarity,” Rice said in a statement.
Happy 2022! In The Weeds welcomes the new year, as well as a number of new cannabis laws and policies taking effect around the country in 2022. 1, Louisiana’s medical cannabis program allows patients to access smokable whole-plant flower marijuana. McGuireWoods LLP. Newsworthy Highlights. Montana: As of Jan.
–(BUSINESS WIRE)–Cannabis entrepreneurs affected by the War on Drugs can have their license or renewal fee waived, following the approval of emergency regulations issued by the Department of Cannabis Control (DCC). Emergency regulations for the equity license fee waiver program were approved today. SACRAMENTO, Calif.–(BUSINESS
The bill would expand patients’ access to the necessary treatment for more than 50 conditions, including cancer and post-traumatic stress disorder (PTSD), neurological diseases, and chronic pain of neuropathic origin. Draft Law of Ukraine. ARV (revised). REFERENCE to the EU acquis. explanatory note. Comparative table. LAW OF UKRAINE.
If passed the bill will establish the “Task Force on Psilocybin Equity” that will research problems relating to access and equity in Oregon’s emerging psilocybin program. The task force will complete a study and provide policy recommendations that will serve as a basis for substantive policy reforms during the 2023 legislative session.
Starting Monday, January 31, 2022, the public may weigh in on possible changes to the Cannabis Control Commission (Commission)’s list of 29 Massachusetts municipalities – including certain census tracts – deemed Disproportionately Impacted Areas (DIAs). on Friday, March 4, 2022. on Friday, March 4, 2022.
” Several states have launched investigations into Curaleaf’s business practices that were highlighted in our article, including product safety and labor violations. Cartels that operate to the detriment of small businesses are not conducive to a diverse, inclusive industry or a wide array of product choices.
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