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Gov. Newsom’s Budget Trailer Bill Makes Significant Reforms to California Cannabis Laws, Including Elimination of the Cannabis Cultivation Tax

Cannabis Law Report

California Cannabis Cultivation Tax Eliminated. The budget trailer bill eliminated the cannabis cultivation tax beginning July 1, 2022. The harvested cannabis was first sold or transferred by a cultivator to a distributor on or after July 1, 2022. California Cannabis Excise Tax Capped at 15% for Three Years.

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Columbia Care Announces Closing of US$74.5 Million Private Placement Offering of 6.00% Secured Convertible Notes Due 2025

Cannabis Law Report

(NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF) (FSE: 3LP) (“Columbia Care” or the “Company”) is pleased to announce that it has closed its previously announced private placement (the “Offering”) issuing US$74,500,000 aggregate principal amount of 6.00% secured convertible notes due 2025 (the “Notes”).

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Senate Bill 1723 moves to Subcommittee on Cannabis

Illinois News Joint

SB1723 deletes the provision that states any person or entity awarded a craft grower license under specified provisions “shall only hold one craft grower license” and removes language providing that a craft grower shall not be located within 1,500 feet of another craft grower but leaves in the restriction for “a cultivation center.”

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From Farms to Festivals: New York’s Innovative Approach to Cannabis Sales and Showcases

Veriheal

This decision by the state’s Cannabis Control Board was made to help cannabis cultivators earn a return on their investment. In fact, the conditions for these showcases are not necessarily stringent. In fact, the conditions for these showcases are not necessarily stringent. billion by 2025.

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Illinois Senate creates cannabis omnibus

Illinois News Joint

The first amendment adds that a “craft grower may contain up to 14,000 square feet (instead of 5,000) of canopy space on its premises for plants in the flowering state, which must be cultivated in all stages of growth in an enclosed and secure area.”

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Ascend Wellness Holdings Announces US$210 Million Senior Debt Financing

Cannabis Law Report

We are actively building one of the most robust networks of retail stores and cultivation facilities in the highest quality markets. per annum, payable quarterly in arrears, with a maturity date of August 27, 2025. said Abner Kurtin , Founder and CEO of AWH. “We The Term Loan will bear interest of 9.5%

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California Wildfires Leave Cannabis Growers Quaking in their Boots

Veriheal

Cannabis cultivators in California, where legal cannabis sales reached $2.2 million acres of land was burnt to a crisp — cannabis cultivators are preparing to kiss goodbye to their harvests. California’s cannabis cultivators are required to abide by testing regulations for harmful chemicals and residual solvents.