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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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Wyoming Secretary of State Conditionally Approves Two Cannabis-Related Ballot Initiatives

SpeedWeed

The proposed law would legalize and regulate adult-use cannabis cultivation, manufacturing, testing and sales to adults 21 and older, as well as allow adults to grow six plants at home for personal use, with a maximum of 12 plants per household. View original article.

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Cannara Biotech Inc. Completes Acquisition of TGOD’s State-of-the-art Cultivation and Manufacturing Facility in Valleyfield, Quebec

Cannabis Law Report

million in the form of an unsecured convertible debenture bearing interest at 4% per annum(the “ Debenture ” and, collectively with the Equity Raise, the “ Offerings “). Olymbec may in the future increase or decrease its ownership of securities in Cannara as circumstances or market conditions warrant.

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Akanda Corp Acquires Bophelo and CanMart from Halo Collective Creating a Leading International Medical Cannabis Company

Cannabis Law Report

CanMart”) from Halo Collective Inc. (“Halo”) (NEO: HALO) (OTCQB: HCANF) (Germany: A9KN). Akanda is an international medical cannabis company cultivating cannabis of the highest quality at scale, leveraging trusted brands, at a low-cost compared to many of its competitors. Bophelo”) and CanMart Ltd. About Akanda Corp.

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Cannara Biotech Inc. Enters into Definitive Agreement to Acquire TGOD’s State-of-the-Art Cultivation and Manufacturing Facility in Valleyfield, Quebec

Cannabis Law Report

providing Cannara the ability to reach an annual cultivation capacity of 125,000 kg of premium-grade cannabis. providing Cannara the ability to reach an annual cultivation capacity of 125,000 kg of premium-grade cannabis. Subject to customary closing conditions, the transaction is expected to close on June 20, 2021.

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COOKIES AND TERRASCEND Partner To Bring Top-Shelf Genetics To The Garden State

Cannabis Law Report

The parties entered into a multi-year deal under which TerrAscend will be the sole cultivator and manufacturer of Cookies branded products in New Jersey, subject to certain conditions and regulatory approval. TerrAscend operates a 140,000 square foot cultivation and processing facility in The Garden State. “We

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Sugarbud Expands Product Portfolio In Ontario

Cannabis Law Report

“We are delighted to be expanding our Craft Cannabis Collection in the Province of Ontario – Canada’s largest and fastest growing recreational cannabis market,” stated Sugarbud’s CEO, John Kondrosky.