November 14, 2019
 

International CBD company Kannaway again honored by global business awards for their industry leading efforts. 

Medical Marijuana, Inc. subsidiary Kannaway was recently named Small Business Company of the Year in the Life Sciences, Health, Wellness, and Nutrition category by the Business Intelligence Group’s 2019 BIG Awards for Business

The Business Intelligence Group’s 2019 BIG Awards for Business launched seven years ago with the mission to acknowledge companies, products, and people that are leading their respective industries. 

The organization’s proprietary and unique scoring system selectively measures company performance across multiple business domains and then rewards those companies whose achievements stand above those of their peers.

As the first direct selling company to bring hemp based cannabidiol (CBD) products to market in the U.S. and Europe, Kannaway has been a leader in the international CBD market. The company distributes its line of CBD products through its global team of brand ambassadors. 

Kannaway was named Small Business Company of the Year by the 2019 BIG Awards for Business to recognize the company’s international advocacy efforts for CBD access and education, their innovative products, and successful year over year growth. 

In 2018, Kannaway experienced an increase of nearly 200% in revenue over 2017 revenue, with much of that success attributed to its European operations. This year, the company is on track to again to surpass the previous year’s sales. 

“We are honored and humbled to have the hard work of our team recognized by the BIG Awards for Business,” said Kannaway CEO Blake Schroeder. “2019 was a banner year for revenue growth at the Company, especially in our international operations, and we are proud to continue to be a pioneer for the industry in educating new markets about hemp-based CBD.”

Kannaway’s CEO Blake Schroeder also took home a 2019 BIG Awards for Business, being named Small Business Executive of the Year in the Life Sciences, Health, Wellness, and Nutrition category.

Schroeder is one of 60 global leaders recognized by the 2019 BIG Awards for Business and the sole winner of the Small Business Executive of the Year for the Life Sciences, Health, Wellness, and Nutrition category. 

The award honors Schroeder’s efforts in growing Kannaway’s revenue more than 60 times since joining the company’s executive team, along with his work to help expand the Kannaway’s hemp and CBD product offerings to meet growing worldwide consumer demand.

“We are excited by this recognition and believe that it will help us make CBD and hemp-derived products available to people around the world,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus of the news. “Awards like these continue to boost our reputation as a category leader and set a standard of professionalism that we wish to impart upon the entire industry.”

The hard work and resulting success from Kannaway has garnered a number of awards in 2019, including: 

You can learn more about Kannaway and the rest of the Medical Marijuana, Inc. portfolio of CBD products here, or visit our company news feed for the latest from across our portfolio. 

Interested in trying CBD for yourself? Shop our online CBD store.


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George Scorsis Aphria

November 14, 2019
 

On October 31, the U.S. Department of Agriculture (USDA) published its interim final rules for the production of hemp under the 2018 Farm Bill. Our firm has provided a broad overview of the rules and written about the potential impact of the testing rules on the hemp industry. Today we address disqualifying criminal history for the purpose of participating in the hemp industry.

The interim rules outline the requirements for States and Indiana Tribes hemp production plans, which must be approved by the USDA.  Among these requirements is that if the producer is a business entity, the State or Tribe must collect and submit information that includes:

  • The full name of the business,
  • Address of the principal business,
  • The location, full name and title of the “key participants”,
  • An email address if available, and
  • The EIN number of the business entity

Applications for a producer license – whether submitted to the USDA, a State, or a Tribe – must be accompanied by a completed criminal history report for each key participant. This is because the 2018 Farm Bill prohibits persons convicted of a felony related to a controlled substance under State or Federal law from producing hemp for 10-years following the date of conviction. An exception applies to persons who were lawfully growing hemp under the 2014 Farm Bill before December 20, 2018 (the date that the 2018 Farm Bill was signed into law), and whose conviction occurred before that date.

Who is a key participant? A key participant is:

  1. A person or persons who have a direct or indirect financial interest in the entity producing hemp, such as an owner or partner in a partnership;
  2. Persons in a corporate entity at executive levels, including chief executive officer, chief operating officer and chief financial officer.

The rules expressly state that “key participants” do not include other management positions like farm, field or shift managers.

USDA is requiring a criminal history records report for key participants because those persons are likely to have control over hemp production, whether production is owned by an individual, partnership, or a corporation. What does this mean? It means that the USDA considers those persons as responsible for ensuring compliance with the regulatory requirements. For a corporation, if a key participant has a disqualifying felony conviction, the corporation may remove that person from a key participant provision – failure to do so will result in a denied application or license revocation.

What is unclear from the interim rules is how far into a web of corporate relationships the requirement of identifying and providing criminal history reports for key participants’ extends.  Consider a scenario in which Company X is applying for a hemp production license. Company X is owned in equal parts by two individuals and Company Y. Company Y’s ownership is comprised of three individuals and a trust.  Read broadly, the requirement to identify key participants and submit criminal history reports would apply to C-level employees of Company X, five individuals and the beneficiaries of the trust and may include the trustee.  This is a basic example of the kinds of corporate structures that we often see and which can create burdensome headaches when it comes to identifying “key participants.”

Those of us operating in states that have legalized recreational marijuana are used to reading the identification as extending through the entire corporate family.  For example, here is a recent post on this issue California. And here is a post about considerations for foreign companies when investing in US cannabis. As these articles explain, financial interest disclosure requirements can be incredibly difficult to comply with and it may not always be clear who has an “indirect” interest.  The goal of such regulations is to ensure that the government knows the identity of every person who may profit from the recreational marijuana business.

It appears that may also be the case for hemp and there is much more to say on this and other topics. So stay tuned as we delve further into the interim rules governing hemp production in the coming weeks and please register for our webinar this afternoon at 12:00 PM.

 


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george scorsis

November 14, 2019
 

Outdoor marijuana growers are reporting an increase in cross-pollination from hemp farms, a development that could mean MJ cultivators might lose upwards of tens of thousands of dollars if their plants become unmarketable as flower products.

Cross-pollination could cost marijuana farmers several thousand dollars as hemp production expands nationwide is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Liberty Health Sciences

November 13, 2019
 

Cresco Labs, a Chicago-based multistate cannabis operator, and Origin House are overhauling the terms of their merger announced earlier this year, as falling cannabis stock prices and other factors slashed the value of the transaction in half to approximately $400 million. Because of the revised terms, the transaction also will now not close until approximately

Cresco Labs, Origin House revamp cannabis merger as value falls more than 50% and close delayed is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis

November 12, 2019
 
Adastra Labs & Market Analysis - Midas Letter RAW 291
Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

george scorsis

November 12, 2019
 

New British guidelines for the first time recommend that two plant-based cannabis medicines – Sativex and Epidiolex – be covered through the United Kingdom’s National Health Service (NHS), a significant step that is likely to boost sales of both products. Health regulators also are recommending the NHS make available a synthetic cannabinoid known as nabilone.

New UK guidelines recommend public insurance coverage for two GW Pharma cannabis medicines, plus a synthetic cannabinoid is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

more information, George Scorsis

November 12, 2019
 

Ontario-based Cronos Group reported quarterly revenue of 12.7 million Canadian dollars ($9.6 million), an improvement over the previous quarter’s CA$10.2 million but slightly lower than consensus estimates. The cannabinoid company’s adjusted EBITDA loss widened quarter-over-quarter to CA$24 million. Cronos said it shipped 3,142 kilograms (6,927 pounds) of cannabis in the third quarter, double the amount

Cronos to convert some cultivation space, reports revenue growth is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

more info, George Scorsis

November 12, 2019
 

On the heels of recent news that several U.S. and Canadian marijuana companies were slashing employee headcounts, two more California companies announced job cutbacks. CannaCraft and Grupo Flor both told Marijuana Business Daily they undertook cost-saving layoffs as a result of financial challenges, which along with previous downsizing disclosures by other cannabis firms might suggest larger underlying financial

Two more California cannabis companies disclose layoffs is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

addiitional information, George Scorsis

November 12, 2019
 

Citing Ontario’s slow cannabis retail build-out, Organigram Holdings issued revenue guidance for expected fourth-quarter net revenue of 16.3 million Canadian dollars ($12.3 million), a substantial decline from the previous quarter’s CA$24.8 million. Analysts had expected the New Brunswick producer to report quarterly net revenue of about CA$27 million. That prompted a downgrade from Bank of

Organigram blames Ontario’s slow retail build-out in lower revenue guidance is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

george scorsis

November 11, 2019
 

Jamaica plans to overhaul the interim regulations governing legal marijuana businesses and create a national road map to support the development of the island’s regulated industry. The support could help businesses overcome obstacles hindering the sector’s growth, which include banking issues and finding markets for products. The Agriculture Ministry (MICAF) will reconstitute the National Cannabis Advisory

Jamaica plans cannabis regulations overhaul, blueprint for industry support is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis Aphria

November 11, 2019
 

It is trite of me to say so, but the current “gold rush” in the U.S. has prospectors dreaming of double-fisting cannabis buds and greenbacks, and that makes for fertile fraud soil. In this green rush, investors are voraciously putting money into cannabis ventures that are, in some instances, producing vast amounts of cash and garnering valuations at 10x (and more) EBITDA when potential purchasers come knocking (and they are knocking) (see here and here for posts on cannabis business valuations). But this frothy business market means the fraudsters are also salivating en masse about would-be investors, and securities regulators are keeping close tabs on these securities transactions. Regardless of which side of the investment equation you are on, you do not want your company, yourself, or someone you care about to be involved in securities fraud. This post focuses on Utah, which is infamous (pronounced IN-fame-us) for being one of the fraud capitals of the U.S., but the principles are widely applicable to cannabis ventures in established cannabis markets like Colorado, Washington, Oregon, California, Maine, and beyond.

I recently attended Utah’s annual securities law workshop with some heavy-hitting headliners: Ben McAdams from Utah’s Congressional delegation; the chief accountant for the SEC’s enforcement division; and the head of Utah’s Division of Securities, Tom Brady (the slightly less famous one). Mr. Brady confirmed for me that Utah has more than its fair share of fraud and that the fraud has a particular Utah flavor, with confidence schemes dominating the landscape, often perpetuated by fraudsters who work their church, neighborhood, and family connections in a state that rivals China for its interconnectedness (in Chinese it’s called guanxi (gwon shee) – 关系). Many of Mr. Brady’s examples of fraud perpetuated in Utah began with a hot tip provided by a well-regarded businessperson who was extremely likeable and therefore seemed trustworthy. Utah has a very trusting population, and it also has a growing elderly population, both of which are vulnerable to fraud. Although it is currently only appearing as an intermittent blip on the radar of Utah’s Division of Securities, the Utah cannabis scene is ripe for fraud opportunities. Caveat investor.

Utah is on the cusp of rolling out its medical marijuana program. The Utah Department of Health will begin issuing medical marijuana cards no later than March 1, 2020. Even before Utah voters passed the ballot initiative on November 6, 2018, the green rush had already started in Utah, with would-be investors looking at getting in on the ground floor in Utah’s new marijuana marketplace. Heavy cannabis investments are happening in all the states where we have attorneys: Washington, Oregon, California, and Utah, which means that bogus investments (not just bad investments) are also being shopped to would-be investors as an alternative to the evergreen oil-and-gas venture fraud in the West. How can prospective investors in a Utah cannabis venture avoid losing their money in a fraudulent scheme? It helps to ask the right questions and to know what the right answers sound like.

Is the company or individual raising funds using a law firm to help with the transaction? Does that law firm know both securities and cannabis?

These questions are partially self-serving, but I put this point first because you do not want to dabble in securities law, whether you are a company, an individual businessperson, an investor, or a lawyer. Whatever your role in business, if money is changing hands between investors and a business venture, the investor is investing in securities being offered by the company. Even if it is “just” a promissory note or you are “just” loaning some funds to a friend or family member, unless you do not care about getting your money back, make sure there is a qualified securities attorney involved. There are a lot of great attorneys in Utah. There are at least two good cannabis attorneys in Utah. I am not aware of any other lawyers in Utah who know both securities and cannabis. You need good securities attorneys representing the company and each investor.

If the company is using an intermediary to solicit investments, is that intermediary licensed to solicit investments? Are they registered with the SEC, FINRA, or the State of Utah? Has the intermediary been disciplined by any of these entities?

Intermediaries or “finders” are (by definition) not involved with the day-to-day operations of the company that is soliciting investment, and they must be registered with state and federal regulators because they are in the trusted position of soliciting funds for investment. If the intermediary is not registered as a broker or investment advisor, they should not be soliciting investments unless they have a direct and substantial role with the company. If the company thinks the intermediary is registered but the intermediary is not registered, you should think twice about investing with the company. If the company does not know that their intermediary needs to be registered, you should also think twice about investing with the company.

What type of investment registration statement is the cannabis venture required to file?

The company either has to register its investment securities or qualify for an exemption from registration. If the company owners do not know what a securities offering is, you should think twice before investing with the company unless the company is willing to get competent advice from a securities lawyer. If the company or its attorney has not heard of Reg D, Rule 4(a)(2), or Rule 506, you should probably walk away or insist a qualified securities attorney get involved.

What parts of a cannabis business can be invested in, or what are the limits to the company’s business purpose?

Some states (like Arizona) allow full integration of marijuana business activities; others (like Washington) do not. If, for instance, the company seeking investment plans to develop a cannabis testing facility and have a fully integrated cannabis business (cultivate, manufacture, distribute/transport, and retail sales), but you know that the company can only do what its license permits, then you may want to look for another company to invest in. In Utah, only eight companies have been authorized to grow medical cannabis: Dragonfly Greenhouse, Harvest of Utah, Oakbridge Greenhouses, Standard Wellness Utah, True North of Utah, Tryke Companies Utah, Wholesome Ag, and Zion Cultivars. There will initially be only up to 14 privately-operated medical cannabis pharmacies licensed by the Utah Department of Health, but the RFP for applications has not yet been issued.

What can be found out about the principal owners and operators of the business by (1) word of mouth, (2) a simple Google search, and (3) checking with state and federal securities regulators?

I cannot tell you how many instances of investment fraud could have been avoided by doing a simple Google search. This was stressed recently in another conference I attended with the Washington State securities regulators. Do your homework or pay someone else to do your homework. In the legal world, that homework is called “due diligence”, which is a crucial part of any business transaction.

When it comes to investing in cannabis, know your counterparts, know their business, and know their flaws and weaknesses. Know all of this before you invest.


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George Scorsis

November 10, 2019
 

The Agriculture Improvement Act of 2018 (“2018 Farm Bill”) legalized hemp by removing the crop and its derivatives from the definition of marijuana under the Controlled Substances Act (“CSA”) and by providing a detailed framework for the cultivation of hemp. The 2018 Farm Bill gives the US Department of Agriculture (“USDA”) regulatory authority over hemp cultivation at the federal level. In turn, states have the option to maintain primary regulatory authority over the crop cultivated within their borders by submitting a plan to the USDA.

This federal and state interplay has resulted in many legislative and regulatory changes at the state level. Indeed, most states have introduced (and adopted) bills that would authorize the commercial production of hemp within their borders. A smaller but growing number of states also regulate the sale of products derived from hemp.

In light of these legislative changes, we are presenting a 50-state series analyzing how each jurisdiction treats hemp-derived cannabidiol (“Hemp CBD”). Each Sunday, we summarize a new state in alphabetical order. Today we turn to Massachusetts.

The Massachusetts Department of Agricultural Resources (“MDAR”) oversees the state’s “Hemp Program.” The Hemp Program offers the following services:

  • Licensing for Growers and Processors through an application process
  • Inspection of growing sites and processing facilities
  • Education and outreach to interested parties and hemp program participants
  • Certification of Industrial Hemp through regulatory testing to ensure THC levels < 0.3%

MDAR test the THC percentage in hemp using high-performance liquid chromatography (“HPLC”) to test for total THC, including both delta-9 THC and THCa. This appears to be required pursuant to the recently issued interim hemp rules but is going to likely create problems for hemp growers nationwide.

An MDAR license is required to plant, grow, harvest, process or sell industrial hemp in Massachusetts. MDAR issues three different license types for growers, processors, and for those engaged in both growing and processing. A grower is a person who cultivates Industrial Hemp, and a processor converts Industrial Hemp into a marketable form through extraction or manufacturing. A processor is only allowed to process hemp that was grown in Massachusetts as part of the Hemp Program. However, according to MDAR’s Frequently Asked Questions on hemp, there is an exception to this general prohibition:

The only exception to this is if such hemp to be processed was obtained lawfully under federal law from an approved source. We are still waiting on guidance from USDA as to how domestically grown, unprocessed hemp may be transported over state lines and as such no unprocessed hemp grown in the United States may be brought into Massachusetts for processing at this time.

MDAR’s FAQs also state that Massachusetts was “waiting for additional guidance from USDA before developing a plan to ensure compliance with the 2018 Farm Bill[.]” Now that the USDA has provided guidance through its interim hemp rules, it appears to be only a matter of time before Massachusetts submits a hemp production plan to the USDA pursuant to the 2018 Farm Bill.

When it comes to the sale of hemp-derived products, the MDAR states that it does not regulate the retail market and is limited to the wholesale market. According to the MDAR, the wholesale market includes the following transactions:

  • Wholesale of industrial hemp from Massachusetts Grower to Massachusetts Grower
  • Wholesale of industrial hemp from Massachusetts Grower to Massachusetts Processor
  • Wholesale of industrial hemp from Massachusetts Processor to Massachusetts Retailer
MDAR does not require a license for the retail sale of hemp-derived products.
MDAR states that the following hemp-derived products can and cannot be wholesaled in Massachusetts:
Allowed Not Allowed
Hemp seed and hemp seed oil Any food product containing CBD
Hulled hemp seed Any non-food product containing CBD derived from hemp that makes therapeutic and/or medicinal claims on the label, unless it has already been approved by the FDA
Hemp seed powder Any product containing CBD that is being marketed as a dietary supplement, unless already approved by the FDA
Hemp protein Animal feed that contains any hemp products, including CBD
Clothing Unprocessed or raw plan hemp, including flower that is meant for end use by a consumer.
 Building material
Items made from hemp fiber
Non-food CBD products for human consumption that DO NOT make any medicinal/therapeutic claims on the label and  are not marketed as a dietary supplement, unless the product has already been approved by the FDA.
Flower/plant from a Massachusetts licensed Grower to a Massachusetts licensed Grower or Processor

The Massachusetts Department of Public Health (“MDPH”) has also posted FAQs on CBD and hemp in food.  Unlike MDAR, the MDPH does have the ability to regulate retail sellers of food. Therefore, the sale of Hemp-CBD food and dietary supplement products is not allowed in Massachusetts. In addition, Massachusetts issued a temporary ban on “all non-flavored and flavored vaping products, including mint and menthol, including tetrahydrocannabinol (THC) and any other cannabinoid.”

In summary, Massachusetts allows for the cultivation and processing of hemp and appears to be working on a plan in light of the 2018 Farm Bill and USDA’s interim hemp rules. Massachusetts currently bans the sale of Hemp-CBD in food, dietary supplements, and unapproved drugs, following the FDA’s state position on these products. Massachusetts also prohibits the sale of hemp flowers and has a temporary ban on vaping products, essentially eliminating the smokable hemp market as well.

For previous coverage in this series, check out the links below:


[Read More ...]

george scorsis

November 08, 2019
 
Inner Spirit Holdings (CNSX: ISH), Canopy Rivers (TSE: RIV) - Midas Letter RAW 289
Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

more information, George Scorsis

November 08, 2019
 
Canopy Rivers Inc.(TSE:RIV) CEO, Narbé Alexandrian
Canopy Rivers Inc.(TSE:RIV) CEO, Narbé Alexandrian ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis

November 08, 2019
 

A group comprised of cannabis industry leaders and experts is calling on Ontario’s government to provide a more complete timetable for when retail stores will be permitted through an open allocation of licenses. So far, the province has used a botched lottery system to award opportunities to open recreational marijuana stores. The Ontario Cannabis Policy

Ontario business group wants ‘clear timeline’ for cannabis store expansion is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis

November 08, 2019
 

Cannabis companies confront fewer funding opportunities, Vireo Health taps Bruce Linton to help the multistate operator expand, a Massachusetts judge rules an emergency ban on vapes can’t be enforced for medical marijuana patients – and more of the week’s top cannabis business news.   Marijuana investment activity slows Cannabis companies are struggling to thrive as

Week in Review: Marijuana lending activity cools, Vireo hires Linton, MA judge lifts MMJ vape ban & more is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis Aphria

November 08, 2019
 

One of the largest cannabis companies in the world, Canopy Growth, is restructuring its overseas operations by laying off 15% of its workforce in Latin America, reflecting the slow pace at which revenue-generating opportunities and regulatory structures are evolving in the region. Though the layoffs account for a tiny fraction of the Canadian producer’s global 3,850-person workforce,

Cannabis producer Canopy downsizes Latin America workforce as region struggles to generate revenue is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis Liberty Health Sciences

November 07, 2019
 

Illinois awarded three more medical marijuana retailers licenses to sell recreational cannabis, including two in Chicago. There are now 14 medical marijuana dispensaries in Illinois that can sell recreational cannabis when legal sales begin Jan. 1, the Chicago Tribune reported.

Illinois hands out three more adult-use cannabis licenses, two in Chicago is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis Liberty Health Sciences

November 07, 2019
 

To help expand its national footprint, multistate marijuana company Vireo Health International has hired Bruce Linton, one of the biggest names in the cannabis industry and former leader of Canada’s Canopy Growth until his surprise firing in the summer. It’s a high-profile hire for the U.S. cannabis industry, one that many executives and investors across

Marijuana company Vireo Health wagers on former Canopy co-CEO Linton to expand nationally is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

george scorsis

November 07, 2019
 
StoneCastle Investment
************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

george scorsis

November 06, 2019
 
Orthogonal Thinker & 420Investor Alan Brochstein - Midas Letter RAW 287
Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis Liberty Health Sciences

November 06, 2019
 
Nikolaas Faes - Bryan, Garnier & Co
************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis website

November 06, 2019
 
Cannamerx company update with CEO, Dietwald Claus
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George Scorsis

November 06, 2019
 

Anyone paying attention to cannabis business headlines has noticed what on its face seems a disturbing trend: At least half a dozen large companies recently announced layoffs, perhaps suggesting there’s financial trouble surrounding the marijuana industry. But those headlines don’t reveal the full story, several industry watchers told Marijuana Business Daily. Rather, recent layoffs are a

Experts suggest recent marijuana industry layoffs are part of a reality check; more job cuts expected is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis

November 05, 2019
 
Introduction to Toronto-Based Trichome Financial - A Lender to Canadian & Global Companies
Trichome Financial - CEO, Michael Ruscetta ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis website

November 05, 2019
 
Wikileaf Technologies (CNSX:WIKI) Founder & Ceo, Dan Nelson
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George Scorsis

November 04, 2019
 

New regulations to facilitate the commercial export of medical cannabis from Jamaica, intended to make the country’s businesses competitive on the global stage, face further delay as relevant ministries iron out the final rules. Agriculture Minister Audley Shaw previously stated the regulations were to be finalized in September 2019. Speaking at a Public Administration and

Jamaica’s medical marijuana export rules face further delay is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

November 04, 2019
 

Marijuana regulators in Michigan received 52 recreational cannabis business license applications on the first day of the application period, a modest number because most communities initially decided to opt out of the program. “With that level of municipal participation, it’s not surprising that applicants are waiting and wanting to see how the landscape unfolds,” Andrew

Michigan nets 52 adult-use marijuana applications on first day is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Aphria

November 04, 2019
 

Canadian marijuana company Sundial is facing two class action lawsuits filed in the United States by shareholders over hundreds of pounds of alleged “un-sellable” cannabis. The latest suit charged that the company failed to disclose that one client, Vancouver, British Columbia-based Zenabis Global, returned more than 1,200 pounds of marijuana worth $1.9 million (2.5 million

Shareholders sue Canadian cannabis grower Sundial is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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additional info, George Scorsis

November 04, 2019
 

Whether it’s a cannabis-focused arts and music festival, a “garden party” or a tour that guides visitors from cultivation all the way to the sales floor, experts say that creating memories that stick with customers is among the most effective ways to build brand loyalty. In an industry constrained by regulations that limit cannabis advertising,

Offering consumers a face-to-face experience helps them remember a marijuana brand, experts advise is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Liberty Health Sciences

November 01, 2019
 

Michigan’s adult-use cannabis application process got off to a fast start Friday, with regulators giving “prequalification” approval to two existing medical cannabis operators before 9:30 a.m. local time. But a spokesperson for the state Marijuana Regulatory Agency told the Detroit Free Press that the second stage of the approval process will take a few weeks.

Michigan starts taking recreational marijuana applications is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

November 01, 2019
 
Cannamerx & StoneCastle Weekly Update - Midas Letter RAW 284
Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis Liberty Health Sciences

November 01, 2019
 

Chicago-based Cresco Labs is more than doubling its workforce in Illinois as the multistate operator prepares for the Jan. 1 launch of recreational cannabis sales in the state. The company, expected to close its acquisition of Canada-based distributor Origin House by Nov. 15, said it is hiring more than 300 people in its home state

Cresco Labs growing jobs in Illinois as adult-use marijuana looms is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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george scorsis

November 01, 2019
 

The shortage of cannabis that plagued businesses in the early months of legalization is over, according to an industry group representing Canada’s biggest marijuana producers. “There is ample supply of cannabis for the adult recreational market,” Cannabis Council of Canada wrote in an open letter to Ontario Premier Doug Ford, who cited the shortfall when

‘No longer a shortage,’ Canadian cannabis industry group declares is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

November 01, 2019
 

usda hemp testing rules

On Tuesday, the U.S. Department of Agriculture (“USDA”) released its interim final rule for the production of hemp under the 2018 Farm Bill. Although these rules are not final, they will go into effect once published in the Federal Register, at which point a 60-day public comment period will begin.

Upon the publication of the rules, our firm provided a broad overview of the provisions found in the rules. Today, we further discuss the THC testing requirements proposed in the rules and how they will impact the hemp industry.

TOTAL THC TESTING PROTOCOL

To the disappointment of many in the hemp industry, the USDA adopted a total THC testing requirement. As we previously explained, total THC is the molar sum of delta-9 THC (“THC”) and delta-9 tetrahydrocannabinolic acid (“THCA”). Using a total THC testing protocol will create additional hurdles for hemp farmers who are already engaged in a precarious industry. Not only does this testing method tend to increase the THC concentration in the hemp sample, and thus, pushes it over the 0.3 percent limit, it also limits the type of strains farmers can work with. This is because few hemp genetics currently on the market would comply with a total THC testing method. Consequently, this rule will force hemp farmers to carefully select the types of seeds they buy.

To make things worse, the USDA rules also require that hemp be sampled and tested for total THC within 15 days of anticipated harvest. Given that the concentration of THC increases as harvest approaches, the rule will create additional challenges to get at or under the 0.3 percent limit. Although the USDA stated in its rules that it was “requesting comments and information regarding the 15-day sampling and harvest timeline,” the agency also explained that the rule “will yield the truest measurement of THC level at the point of harvest.” In light of these statements, it will be interesting to see whether stakeholders’ input on the matter will convince the USDA to revise this requirement.

DEA REGISTRATION

The USDA testing rules further require that the testing labs be registered with the Drug and Enforcement Administration (“DEA”). The rationale for this rule is that labs could potentially handle hemp that tests above the THC testing limit, and thus, would constitute “marijuana”, a Schedule I drug under the Controlled Substances Act. Because it is unlawful to possess marijuana without a DEA registration, all labs must be registered with the DEA in order to conduct hemp THC testing. However, the current DEA rules limit registration to labs located in jurisdictions in which the prescription, distribution, dispensing, research and handling of marijuana is legal. Accordingly, this USDA rule may reduce the number of labs that will be authorized to engage in this industry, which would be problematic given the fact that there are currently too few labs compared to the amount of hemp being produced.

Therefore, the proposed USDA rules present real challenges for the hemp industry as many crops will likely fail to meet the total THC limit and fewer labs will be allowed to test the crop.

If you would like to further discuss this issue, please contact our team of regulatory attorneys.


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George Scorsis website

November 01, 2019
 

The U.S. Department of Agriculture (USDA) unveils its hotly anticipated hemp regulations, Mexico’s bid to legalize recreational marijuana is delayed, sales of adult-use MJ in Michigan won’t begin until March or April at the earliest – and more of the week’s top cannabis business news. USDA rolls out hemp rules The USDA released 160 pages of

USDA issues hemp rules, Mexican recreational cannabis vote delayed, spring rollout for Michigan’s rec market & more is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Aphria

October 31, 2019
 

Chicago-based Green Thumb Industries, a vertically integrated multistate cannabis company, is refusing to recognize a newly formed Teamsters unit at its cultivation facilities in Rock Island, Illinois, saying the union failed to hold a vote among GTI’s employees on the decision. “GTI respects the rights of our employees,” the company told Marijuana Business Daily in

Cannabis firm Green Thumb refuses to recognize Illinois union effort is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

October 31, 2019
 

The U.S. Senate on Thursday approved a spending bill that includes a provision that would continue to protect state-legal medical marijuana programs from U.S. Department of Justice interference. The provision, which would be good for a year, was included for the first time in the House fiscal year 2020 Commerce-Justice-Science bill. In the past, the

US Senate votes to continue temporary medical cannabis protections is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Liberty Health Sciences

October 31, 2019
 

Denmark’s medical cannabis pilot program saw virtually no quarter-over-quarter growth in the first half of 2019, according to new Danish Health Authority data. Experts say the market was hampered by a combination of prohibitively priced imports and supply issues. In the second quarter, 1,844 cannabis prescriptions were redeemed by 1,045 patients under Denmark’s four-year medical

Danish medical cannabis sales stall on supply, price issues is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis website

October 31, 2019
 
RavenQuest BioMed Orbital Garden Grow-Op
RavenQuest BioMed (CNSX:RQB) CEO George Robinson will tell you when asked if the orbital garden is a gimmick, the short answer is - No.  Our films team went to Edmonton where they are headquartered to see for ourselves and we came away with the same answer: It's not a gimmick at all.  Upon reflection, this shouldn't really be a surprise as they are heavily invested and partnered with bio-science as illustrated with their partnership with McGill University.  It becomes even more obvious listening to George and his attention to detail.  There was simply too much to include in our video; for example that they use batteries in conjunction with their generators so as to never have fluctuations in the voltage going to their systems which he believes will give many of their components an extra 3-5 years of life.  With all of that said, it was still a bit of a jolt to the system looking at the orbital garden which have a very science-fiction vibe to them.  It took a while to get used to seeing only top buds slowing rotating in their golden cylinders. By growing just the "top buds" Raven Quest believes they are saving effort and capital in the long run with their orbital garden.  Why expend more energy to grow an entire plant where a lot of it isn't even used? That is the driving theory behind why they chose to develop and refine their orbital gardens.  They literally take a clone and let it root, then put it right to flower and skip an entire step in the traditional growing process.  By doing this, along with other protocol, they are able to reduce their time-table to about 9.5 weeks all-in; from clipping to putting it in bags to ship out. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

more information, George Scorsis

October 31, 2019
 

unpa natural products cbd fda

I recently attended two events in Utah headlined by the United Natural Products Alliance (“UNPA”) where its President, Loren Israelsen, discussed the voluminous public comments received by the FDA in response its latest round of questions regarding how over-the-counter cannabis extracts like CBD should be regulated. Israelsen provided numerous takeaways for UNPA members and their in-house attorneys regarding CBD and cannabis-derived products, and many cannabis businesses can also benefit from these insights.

As a nearly 40-year veteran of the dietary supplements industry, Israelsen knows his business. UNPA, led by Israelsen, was instrumental in helping pass the 1994 Dietary Supplement Health and Education Act (“DSHEA”), and the majority of UNPA’s calls in recent months have been from UNPA members who want to understand how natural products companies can dive into the CBD world. These inquiries culminated in UNPA reviewing the over 4,000 public comments to the FDA’s inquiries regarding cannabis regulation. In UNPA’s review of the FDA comments, UNPA identified several trends emerging that cannabis business owners should understand to help frame where UNPA believes the cannabis industry is heading in the next five years and beyond, including the intersection of cannabis-derived products appearing as foods, food supplements, drugs, and cosmetics. Those trends are summarized below.

The FDA Already Knows a Lot About CBD.

Epidiolex is a drug that was created by Cambridge, UK-based GW Pharmaceuticals and was approved by the FDA as a drug in 2018 to help relieve epilepsy-induced seizures. GW Pharmaceuticals has now done two decades’ worth of research on CBD and other cannabinoids and is responsible for putting CBD on the FDA’s radar many years ago. CBD’s involvement as an active ingredient in an FDA-approved drug precludes CBD from being marketed as a dietary supplement.

The Larger Battle is for Cannabinoids Generally, Not Just CBD.

GW Pharmaceuticals describes itself as having “established a world leading position in the development of plant-derived cannabinoid therapeutics through its proven drug discovery and development processes, intellectual property portfolio and regulatory and manufacturing expertise.” In its 23-page comment submitted to the FDA, GW Pharmaceuticals provided its well-reasoned argument as to why cannabis research should be led by pharmaceutical companies instead of business leaders (a health care professional-driven market instead of consumer-driven). Even though CBD is driving the current cannabinoid craze, companies like GW Pharmaceuticals are looking beyond CBD to the dozens of other cannabis-derived cannabinoids.

This is a Battle Among the Food and Beverage Industry, the Nutraceutical Industry, and Pharma/BioTech.

GW Pharmaceuticals made it clear that if the FDA allows cannabinoid products to be ingested in food, drinks, or dietary supplements, then pharmaceutical companies have zero incentive to spend millions or billions of dollars on R&D to develop new drug compounds to address diseases. It is highly unlikely that the current CBD market structure will extend beyond CBD to other cannabinoids because the FDA will want to maintain R&D incentives for pharmaceutical and biotech companies.

Big Pharma and BioTech are Much Farther Along than the Food and Beverage Industry and the Nutraceutical Industry.

Based on GW Pharmaceutical’s submitted comments, it is clear that the company has spent decades and many dollars on its research, and it likely knows more about cannabinoids than any other pharmaceutical or cannabis company in the world. In the broader industry, at least 10 cannabinoids are currently under research, and companies are manufacturing synthetic cannabinoids and researching cannabinoids derived from non-cannabis sources. Established food and beverage companies and nutraceutical companies have been slowly wading into the CBD world, but they are lagging behind these pharmaceutical companies.

Dosage/Acceptable Daily Intake Will Vary by the Individual.

The observable negative effects of CBD vary by individual factors such as height and weight, and what dosage is “well-tolerated” is not yet widely understood or implemented in the marketplace. That will change. Israelsen believes that the dosage will look something like this: the number of milligrams of CBD per kilogram of person, with special attention to vulnerable populations (children and pregnant/nursing women) and animals.

Everyone is Starting to Lawyer/Lobbyist Up.

During this interim period where the FDA has not yet issued its final rules, the lawmakers and regulators in Washington D.C. are regularly being contacted by trade groups, trade associations, constituents back home, and lawyers and lobbyists. The current political base is focused on how the cannabis industry is helping disenfranchised rural farmers. These hemp farmers are the ones to hitch your wagon to, especially in states that are not saturated with overcapacity. And if the FDA determines that it does not have enough guidance, it will kick the can back up the road to Congress.

UNPA Wants to Join Forces with Cannabis Businesses and Trade/Interest Groups.

UNPA recognizes that there are many cannabis interest groups and that both existing natural products companies (and trade alliances like UNPA) and new natural products companies (aka cannabis businesses and trade alliances) should collaborate to learn from each other and find commonalities. The natural products companies excel in quality control systems and analytical practices. There may be good opportunities to share expertise, resources, and legal strategies. Israelsen said the nutraceutical industry needs to get to know the cannabis farmers and marijuana-related business groups.

Product Liability Insurance was Not Discussed in the FDA Comments But is Critical.

No one likes to talk about insurance except insurance agents and lawyers. Israelsen stressed the importance of insurance for all companies engaging in the cannabis industry, and it underscores this prior blog post about product liability insurance.


The next several months will provide significant insight into these issues and how they will affect the intersecting paths of companies in the pharmaceutical, biotech, nutraceutical, food and beverage, and cosmetics industries. I believe we will see more strategic alliances, partnerships, and mergers and acquisition activities across industries.


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George Scorsis

October 31, 2019
 

As Canada’s marijuana market enters the next phase of its evolution, serial cannabis entrepreneur Chuck Rifici expects to see a stratification of businesses that have the products consumers demand – and those that lack such merchandise. “We really started the beginning of the brand race, where the consumers are going to start seeing different types

Canada’s cannabis market ‘comes down to execution’: Q&A with marijuana entrepreneur Chuck Rifici is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

October 30, 2019
 

Hundreds of thousands of dollars of glass jars and other packaging were seized in Washington state by federal customs agents, according to several licensed marijuana businesses. The seizures, in Tacoma, Washington, raise concerns that state-lawful cannabis businesses are being unfairly targeted for importing what they believe are legal goods. The recent action was reported by

Customs seizes glassware bound for Washington state’s legal cannabis markets is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis Liberty Health Sciences

October 30, 2019
 

More confusion was added to the mix in Los Angeles this week over the city’s latest marijuana business licensing round after City Council President Herb Wesson called for the process to be redone, thus throwing into doubt the fate of 100 highly coveted cannabis retail licenses in the largest MJ market in the world. Some

L.A. Council president requests redo of retail marijuana licensing round, sending shockwaves through market is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

October 30, 2019
 

Canada’s largest cannabis companies are urging Ontario Premier Doug Ford to significantly increase the number of recreational marijuana stores, noting that the province’s retail footprint is “severely challenging” their ability to invest in the new industry. In an open letter to Ford, the Cannabis Council of Canada said there is an ample supply of marijuana

Cannabis Council urges Ontario to ramp up number of adult-use stores, citing ‘ample’ marijuana supplies is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis

October 29, 2019
 

usda hemp rules

Today, the U.S. Department of Agriculture (“USDA”) released its interim hemp rules. This is a major step in the full implementation of the 2018 Farm Bill. These rules are not final but they will be effective as soon as they are published in the Federal Register. Stakeholders will have 60 days to submit comments on the interim hemp rules.

Expect to see additional analysis of these rules on this blog in the coming days. For now, we’ve highlighted some of the main points that stuck out to us.

State and Tribal Plans. The 2018 Farm Bill requires states and Indian Tribes to submit hemp cultivation plans to the USDA. The interim hemp rules require that these plans include a practice to collect, maintain and report information on hemp cultivators, the land where hemp is produced, and the status and number of licenses issued. Plans must include a procedure for testing hemp within 15 days of the anticipated harvest. Plans must also ensure that samples are representative of an entire hemp lot and the state or tribal agency charged with testing must have unrestricted access to all land, building, and structures used for the cultivation, handling, and storage of hemp. Hemp producers may not harvest before samples are taken. Hemp that tests above 0.3% THC is deemed a “non-compliant cannabis plant” and a state or Tribal plan must cover the destruction of such material. Non-compliant cannabis plants must also be reported to USDA, along with other information on hemp producers and production generally. States and Tribes must also establish lab standards for testing hemp.

The USDA will review state and Tribal plans within 60 days of receipt. States and Tribes can submit amended plans in the event that the USDA does not approve of the initial submission or if the state or Tribe alters a previously approved plan. The USDA will, from time-to-time, audit state and Tribal plans.

USDA Licensing. If a state or Tribal plan is not approved, would-be hemp producers can grow hemp in that state or Tribal area under a USDA hemp license, so long as “the production of hemp is not otherwise prohibited by the State or Indian Tribe.”

The USDA will issue hemp producer licenses. Applicants can apply 30 days after the rules are published in the Federal Register. After that, the USDA will accept applications between August 1 and October 31 each year. Applicants must submit their contact information and a criminal history report. Remember that a felony conviction, at either the state or federal level, results in a 10-year ban from participating in the legal hemp industry, unless a person was lawfully growing hemp under the 2014 Farm Bill before December 20, 2018.

USDA license will be valid until December 31st three years after the year the licensed was issued. Licenses cannot be sold, assigned, transferred, pledged or otherwise disposed of. An application is required for each location where hemp is grown. USDA licensees must submit tests within 15 days of harvest to the USDA or to a state agency, federal agency, or a person approved by the USDA to accept tests. Non-compliant plant material must be destroyed. USDA licensees will be subject to inspections and must maintain records relating to hemp.

Total THC Testing.  The interim hemp rules also cover THC testing, which was a point of concern in the lead up to theses rules being released. The interim hemp rules state that:

 A State or Tribal plan must include a procedure for testing that is able to accurately identify whether the sample contains a delta-9 tetrahydrocannabinol content concentration level that exceeds the acceptable hemp THC level. The procedure must include a validated testing methodology that uses postdecarboxylation or other similarly reliable methods. The testing methodology must consider the potential conversion of delta-9 tetrahydrocannabinolic acid (THC-A) in hemp into THC and the test result measures total available THC derived from the sum of the THC and THC-A content. Testing methodologies meeting these requirements include, but are not limited to, gas or liquid chromatography with detection. The total THC concentration level shall be determined and reported on a dry weight basis.

This appears to require Total THC testing, which includes THC-A, and as has been implemented in Oregon.  Laboratories who test hemp will also report their “measurement of uncertainty” or “MU.” The USDA provides additional context on this concept:

The definition of “acceptable hemp THC level” explains how to interpret test results with the measurement of uncertainty with an example. The application of the measurement of uncertainty to the reported delta-9 tetrahydrocannabinol content concentration level on a dry weight basis produces a distribution, or range. If 0.3% or less is within the distribution or range, then the sample will be considered to be hemp for the purpose of compliance with the requirements of State, Tribal, or USDA hemp plans. For example, if a laboratory reports a result as 0.35% with a measurement of uncertainty of +/- 0.06, the distribution or range is 0.29% to 0.41%. Because 0.3% is within that distribution or range, the sample, and the lot it represents, is considered hemp for the purpose of compliance with the requirements of State, Tribal, or USDA hemp plans. However, if the measurement of uncertainty for that sample was 0.02%, the distribution or range is 0.33% to 0.37%. Because 0.3% or less is not within that distribution or range, the sample is not considered hemp for the purpose of plan compliance, and the lot it represents will be subject to disposal. Thus the “acceptable hemp THC level” is the application of the measurement of uncertainty to the reported delta-9 tetrahydrocannabinol content concentration level on a dry weight basis producing a distribution or range that includes 0.3% or less. As such, the regulatory definition of “acceptable hemp THC level” describes how State, Tribal, and USDA plans must account for uncertainty in test results in their treatment of cannabis.

Labs that test cannabis for THC levels must be registered with the DEA. The USDA is considering a fee-for-service that would allow labs to seek approval with the USDA for THC-testing.

Interstate Transport. The interim rules prohibit states or Tribes from “prohibiting the transportation or shipment of hemp or hemp products produced under a State or Tribal plan,” a license issued by the USDA, or “under 7 U.S.C. 5940[.]” What is 7 U.S.C. 5940? It’s the codification of the  2014 Farm Bill’s industrial hemp provisions. That means that states (looking at you Idaho) can not seize hemp produced under the 2014 Farm Bill, so long as it’s done in compliance with state law or cultivated by an institution of higher education.

Bottom line. We’ve just begun to scratch the surface. These interim hemp rules also outline hemp violations, the appeal process for hemp licensing, and touch on the interplay with the Controlled Substances Act. More than anything else, the USDA’s release of these rules means that we are finally headed towards full implementation of the 2018 Farm Bill. We expect the USDA to be inundated with state and Tribal hemp plans and applications for USDA hemp production licenses over the next few weeks, and then again early next year after many state legislature reconvene. We’ll keep an eye out for developments and suggest you do the same.


[Read More ...]

George Scorsis

October 29, 2019
 

The Missouri Medical Cannabis Trade Association wants the state’s health officials to issue strict vaping regulations. The association, in a letter to the Department of Health and Senior Services, asked for rules on vaping additives, testing and labeling before legal medical marijuana sales begin in Missouri in 2020, according to the St. Louis Post-Dispatch. Nationwide,

Missouri cannabis group seeks vape rules is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis

October 28, 2019
 

An African-American entrepreneur is offering $250,000 in loans with either zero or a low interest rate to 100 social equity applicants for marijuana business licenses in Illinois in hopes of getting more minorities into the industry. Good Tree Capital founder Seke Ballard – who already is in the business of handing out loans to cannabis

Entrepreneur offers $250,000 in loans for Illinois social equity cannabis applications is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis Liberty Health Sciences

October 28, 2019
 

Citing “unprecedented” pressure from companies trying to influence Mexico’s cannabis legislation, voting on a bill to completely legalize marijuana – including its recreational use – will be delayed, according to media reports. Ricardo Monreal, president of the Senate’s Political Coordination Board (Jucopo) – a governing body of the chamber – told Milenio the bill “won’t be voted on this

Mexico to miss deadline to legalize marijuana, including recreational use is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis Liberty Health Sciences

October 28, 2019
 

The vaping health crisis apparently has been good for the marijuana edibles sector, a sign that consumers are funneling more money into infused products instead of vaporizers. Since the first vape-related death was reported in August, retail sales of edibles have climbed steadily in four states while those of vaping products have declined, though the

Sales of marijuana edibles up in at least four states in wake of vape health scare is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis

October 27, 2019
 

maryland hemp cannabis

The Agriculture Improvement Act of 2018 (“2018 Farm Bill”) legalized hemp by removing the crop and its derivatives from the definition of marijuana under the Controlled Substances Act (“CSA”) and by providing a detailed framework for the cultivation of hemp. The 2018 Farm Bill gives the US Department of Agriculture (“USDA”) regulatory authority over hemp cultivation at the federal level. In turn, states have the option to maintain primary regulatory authority over the crop cultivated within their borders by submitting a plan to the USDA.

This federal and state interplay has resulted in many legislative and regulatory changes at the state level. Indeed, most states have introduced (and adopted) bills that would authorize the commercial production of hemp within their borders. A smaller but growing number of states also regulate the sale of products derived from hemp.

In light of these legislative changes, we are presenting a 50-state series analyzing how each jurisdiction treats hemp-derived cannabidiol (“Hemp CBD”). Each Sunday, we summarize a new state in alphabetical order. Today, we turn to Maryland.

Maryland’s Industrial Hemp Pilot Program opened a little more than a year ago. In line with the 2014 Farm Bill, the purpose of the program was and is to authorize and facilitate research of industrial hemp and any aspect of cultivating, manufacturing, transporting, marketing, or selling industrial hemp for agricultural, industrial, or commercial purposes. The Maryland Department of Agriculture (“MDA”) or an institution of higher education that submits an application to the MDA may cultivate, manufacture, transport, market, or sell industrial hemp if the hemp is cultivated to further agricultural or academic research—notably, an undefined term in Maryland’s law.

Last year, MDA issued hemp regulations to govern its program. Per MDA guidance, farmers can partner with institutions of higher education, but otherwise, general commercial cultivation is prohibited. MDA also notes that it does not have jurisdiction over hemp processing or sale.

Earlier this year, Maryland’s governor approved of HB-1123, which includes specific provisions for hemp production and requires the MDA to create a plan for monitoring and regulating hemp production in the state.

That said, Maryland isn’t as open to Hemp CBD. The Maryland Department of Health sort of follows the FDA’s approach and holds that foods and beverages containing Hemp CBD are adulterated and can’t be sold in Maryland (sorry, no Maryland Hemp CBD crab cakes). The state has not really addressed many other types of products, but it could change its position to include Hemp CBD products such as vapes, cosmetics, or topicals (apparently, the state will try ban flavored vapes in the future).

Stay tuned to the Canna Law Blog for developments on hemp and Hemp CBD in Maryland and other states across the country. For previous coverage in this series, check out the links below:


[Read More ...]

George Scorsis

October 26, 2019
 

(This is an abridged version of a story that appears in the October issue of Marijuana Business Magazine.) The perks beyond salary that a marijuana business can offer prospective employees could be the difference between landing the workforce needed to scale up the company or losing that talent to other firms in the space. The potential for

Salary isn’t the only way to lure – and keep – quality cannabis employees is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

george scorsis

October 25, 2019
 
Trichome Financial Corp. & StoneCastle Investment Mgmt. - Midas Letter RAW 279
Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis website

October 25, 2019
 

Two years after Gibraltar legalized CBD, the tiny British Overseas Territory located on Spain’s south coast widened the range of cannabinoids available in the local market. The move could create limited opportunities for medical marijuana companies looking for an entry point into the European market, Brexit notwithstanding. “The new legislation covers a wider range of products

Gibraltar expands medical cannabis market beyond just CBD is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis Aphria

October 25, 2019
 

Mexico prepares to become the most populous nation in the world to legalize adult-use marijuana, vape company Pax cuts 25% of its workforce, governors of Northeast states consider working together to legalize recreational MJ – and more of the week’s top cannabis business news. Mexico prepares to legalize recreational cannabis Mexico’s Senate is ready to receive a

Mexico moves toward recreational cannabis legalization, vape firm Pax cuts jobs, Northeast govs huddle & more is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

October 24, 2019
 

The U.S. Tax Court again ruled that Section 280E of the Internal Revenue Service tax code is constitutional and cannabis companies aren’t entitled to common business deductions. The ruling centered on a plea from Northern California Small Business Assistants, which received a tax bill and penalty from the IRS for $1.5 million for the 2012 tax

US Tax Court rules cannabis deductions are not allowed is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Aphria

October 24, 2019
 

Using RSHO™ CBD Liquids, it is easy to make your own CBD infused eggnog in your kitchen at home. 

Feeling festive? A traditional holiday favorite gets a calming revamp with this DIY, from-scratch CBD eggnog recipe. Do something different for your next holiday get together or dinner party by making your own tasty CBD eggnog using fresh ingredients and delicious spices. This easy to follow recipe uses RSHO™ CBD liquids to quickly add CBD to each mug.

How to Make CBD Eggnog

With the holiday season around the corner, make your daily CBD supplement more festive by treating yourself to a foamy cup of virgin CBD infused eggnog. This recipe makes about 16 servings, ideal for serving at parties. Any leftovers can be stored in the fridge to enjoy this seasonal delight throughout the week.

Ingredients:

  • 8 eggs, separated
  • 1/3 cup sugar
  • ½ teaspoon salt
  • 4 cups whole milk
  • 2 cups heavy whipping cream
  • 1 teaspoon freshly grated nutmeg or cinnamon, plus more for garnish
  • 1 teaspoon vanilla extract
  • ¾ teaspoon RSHO™ Liquid per mug as desired

Instructions:

  1. Whisk together the egg yolks, sugar, and salt until smooth and light in color
  2. Add in the whole milk, whipping cream, nutmeg, and vanilla. Whisk further until smooth.
  3. In the bowl of a stand mixer fitted with the whisk attachment or using a hand mixer, whip the egg whites until soft peaks form – about four minutes.
  4. Fold the whipped egg whites into the cream mixture until smooth.
  5. Chill until cold. Add a single ¾ teaspoon serving of RSHO™ Liquid to each mug and stir. Serve with more freshly grated nutmeg on top and garnish with cinnamon sticks.

Be sure to use or discard your homemade eggnog within a week of making it.

Why CBD Edibles

Infusing edibles with CBD is a great way to add the benefits of hemp derived CBD into your diet. When CBD is taken with food, the body is able to more efficiently absorb the CBD and other cannabinoids before transporting throughout the body. 

Here is more about why you should take CBD oil with food

There are literally dozens and dozens of possible recipes featuring CBD oil tinctures and liquids. Use our CBD recipes to stimulate your creative cooking juices. Keep in mind that it isn’t suggested that you cook with the oil, as doing so can diminish potency.

You can get RSHO™ Liquids in our Green, Blue, and Gold Labels, giving you the choice between our non-decarboxylated, decarboxylated, and filtered options. You can also opt for our zero-THC RSHO-X™. Available in 4 oz. bottles, RSHO™ Liquids provide 31 mg of CBD per serving.

Learn More

Read more about the benefits of CBD and other CBD topics now on our CBD Oil Education page. 


[Read More ...]

george scorsis

October 24, 2019
 

Troubled Canadian cannabis company Hexo, which this week postponed the release of financial results amid lower revenue expectations, said it is cutting about 200 jobs across multiple locations and divisions. The cuts represent approximately 20% of the Quebec-based company’s workforce and include the elimination of some executive positions and the departures of Arno Groll, chief

Hexo slashes workforce by 200 amid lower marijuana revenue expectations is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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additional info, George Scorsis

October 24, 2019
 

Innovative Industrial Properties, a real estate investment trust (REIT) that focuses on buying and leasing warehouses in the marijuana space, paid $17 million to Trulieve Cannabis for a five-building cultivation facility in Florida. Trulieve will lease back the 150,000-square-foot marijuana cultivation centers in Quincy, Florida, from IIP. The initial lease is for 10 years, with

Cannabis giant Trulieve signs $17 million Florida warehouse leaseback deal is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

October 23, 2019
 

An Alberta-based cannabis producer is weeks away from flipping the switch on what it says will be Canada’s largest array of rooftop solar panels. Freedom Cannabis expects to activate the 1,830-kilowatt array at its facility 20 kilometers (12 miles) west of Edmonton in November. The initiative is, in part, an answer to the growing amount

Alberta cannabis producer readies Canada’s largest rooftop solar array is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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george scorsis

October 23, 2019
 

california residential cannabis leasing

Recently, Governor Newsom signed 18 bills aimed to combat the housing crisis in California, including the Tenant Protection Act of 2019.

When I spoke at the California Association of Realtor’s Legal Affairs conference a couple of weeks ago, I was asked whether cannabis activity could be considered grounds for “just cause” eviction under the new Tenant Protection Act.  While there is nothing specific to cannabis in the Tenant Protection Act, and there is not yet any case law interpreting the new statute, landlords fearful of having their properties overrun by pot-smoking hippies can put their minds at ease. Hippies are one thing, but cultivation and processing operations on private residential property are quite another. Read on for more.

The Tenant Protection Act of 2019 Implements Statewide Rent Control and Requires Just Cause to Terminate a Tenancy

Rent Control

Subject to a number of exceptions, new Civil Code section 1947.12 prohibits an owner of residential real property from increasing the rental rate by more than 5% plus the percentage change in the cost of living, or 10%, whichever is lower, over the course of a 12-month period.

Just Cause Termination

To avoid a surge in lease terminations due to the new cap on rent increases, subject to some exceptions, the State now requires “just cause” to terminate a residential lease after a tenant has continuously occupied a residential property for 12 months. (Civil Code 1946.2).

“Just cause” may be either “at-fault” or “no-fault.” At-fault just cause includes:

  1. Default in payment of rent.
  2. A breach of a material term of the lease, including a violation of a provision of the lease after being issued a written notice to correct the violation.
  3. Maintaining, committing, or permitting the maintenance or commission of a nuisance.
  4. Committing waste.
  5. The tenant had a written lease that terminated on or after January 1, 2020, and after a written request or demand from the owner, the tenant has refused to execute a written extension or renewal of the lease for an additional term of similar duration with similar provisions, provided that those terms do not violate this section or any other provision of law.
  6. Criminal activity by the tenant on the residential real property, or any criminal activity or criminal threat on or off the property that is directed at any owner or agent of the owner of the residential real property.
  7. Assigning or subletting the premises in violation of the tenant’s lease.
  8. The tenant’s refusal to allow the owner to enter the residential real property.
  9. Using the premises for an unlawful purpose.
  10. The employee, agent, or licensee’s failure to vacate after their termination as an employee, agent, or a licensee.
  11. When the tenant fails to deliver possession of the residential real property after providing the owner written notice as provided in Section 1946 of the tenant’s intention to terminate the hiring of the real property, or makes a written offer to surrender that is accepted in writing by the landlord, but fails to deliver possession at the time specified in that written notice.

No-fault just cause includes:

  1. Intent to occupy the property by the owner or their spouse, domestic partner, children, grandchildren, parents, or grandparents. For leases entered into on or after July 1, 2020, this applies only if the tenant agrees in writing to the termination, or if a provision of the lease allows the owner to terminate the lease if the owner, or their spouse, domestic partner, children, grandchildren, parents, or grandparents, unilaterally decides to occupy the residential real property.
  2. Withdrawal of the residential real property from the rental market.
  3. The owner complying with any of the following:
    • An order issued by a government agency or court relating to habitability that necessitates vacating the residential real property.
    • An order issued by a government agency or court to vacate the residential real property.
    • A local ordinance that necessitates vacating the residential real property.
  4. Intent to demolish or to substantially remodel the residential real property.

Landlords wishing to exercise a “no-fault” termination must either waive payment of the last month’s rent or pay for tenant relocation.

There is a long list of exceptions to above requirements. Further, if a local ordinance requiring “just cause” termination exists in the jurisdiction where the property is located, then the local ordinance controls.

Owners of single family residences that are “alienable separate from the title to any other dwelling unit” (AKA a single home on a lot) are exempt from the new requirements so long as (1) the owner is not a REIT, a corporation, or an LLC in which at least one member is a corporation, AND (2) the tenants have been given written notice that the property is exempt from the just cause and rental cap requirements.

Cannabis and Just Cause

Non-exempt landlords want to know if cannabis activity constitutes “just cause” for termination under the Tenant Protection Act.

Health & Saf. Code, § 11362.1(a) provides that

“it shall be lawful under state and local law, and shall not be a violation of state or local law, for persons 21 years of age or older to:
(1) Possess, process, transport, purchase, obtain, or give away to persons 21 years of age or older without any compensation whatsoever, not more than 28.5 grams of cannabis not in the form of concentrated cannabis;
(2) Possess, process, transport, purchase, obtain, or give away to persons 21 years of age or older without any compensation whatsoever, not more than eight grams of cannabis in the form of concentrated cannabis, including as contained in cannabis products;
(3) Possess, plant, cultivate, harvest, dry, or process not more than six living cannabis plants and possess the cannabis produced by the plants;
(4) Smoke or ingest cannabis or cannabis products; and
(5) Possess, transport, purchase, obtain, use, manufacture, or give away cannabis accessories to persons 21 years of age or older without any compensation whatsoever.”

However,

“Section 11362.1 does not amend, repeal, affect, restrict, or preempt the ability of an individual or private entity to prohibit or restrict any of the actions or conduct otherwise permitted under Section 11362.1 on the individual’s or entity’s privately owned property.” Health & Saf. Code, § 11362.45(h).

Accordingly, while the cannabis activities described in Health & Safety Code section 11362.1 are not considered “criminal activity” under California law, property owners are well within their rights to prohibit tenants from engaging in any cannabis activity (including smoking, cultivating, and processing) on privately owned property.  Therefore, landlords concerned about cannabis activity should prohibit such activity in their leases, and provide written notice to correct any violation. Landlords should then look to Civil Code section 1946.2(b)(1)(B) (breach of material term) and/or 1946.2(b)(1)(C) (nuisance – if the appropriate elements are present) to justify termination for cannabis-related activity.


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George Scorsis website

October 22, 2019
 

Rhode Island’s governor is asking a judge to declare the Legislature’s control over new medical marijuana and hemp regulations unconstitutional. Gov. Gina Raimondo said Tuesday she’s suing in Superior Court because the Democratic-controlled Legislature, in provisions of the state budget, violated the constitutional guarantee of separation of powers by giving itself the right to veto,

Seeking fairness for medical cannabis firms, RI gov sues over control of state’s industry is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Aphria

October 22, 2019
 
KoreConX & Colin Fisher, StableView Asset Mgmt. - Midas Letter RAW 276
Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis website

October 22, 2019
 

Sales of recreational marijuana across Canada rose 19% in August to 127 million Canadian dollars ($97 million) from the previous month, buoyed by new store openings in Western Canada. British Columbia’s adult-use market is starting to hit its stride after getting off to an extremely slow start, according to new Statistics Canada data. Receipts of

British Columbia’s adult-use cannabis program hits stride as sales double is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

October 22, 2019
 

Terra Carver has lived in California’s Humboldt County nearly her entire life. Since January 2017, she’s served as executive director of the Humboldt County Growers Alliance (HCGA), a coalition she co-founded with the aim of helping longtime local marijuana farmers transition successfully into the new legal market. The first year of California’s legal marijuana market

Prospects brighten for cannabis farmers in California’s Emerald Triangle: Q&A with Humboldt Alliance’s Terra Carver is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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more info, George Scorsis

October 22, 2019
 

California-based Pax Labs, one of the leading vape pen companies in the cannabis industry, disclosed Monday it laid off 65 workers, or 25% of its workforce, after missing its revenue projections. The layoffs come amid a health crisis that has shaken the vaporizing industry. The San Francisco company – which originally had ties to the

Cannabis vaporizer company Pax Labs cuts 25% of workers after missing revenue projections is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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additional information, George Scorsis

October 21, 2019
 

With recipes like our CBD pasta recipe, it is easier than ever to make sure your whole family gets their daily CBD. 

Here is an exciting way to boost the nutritional content of your family’s dinner while providing your loved ones with the balancing effects of CBD. Our from scratch penne rosa recipe includes plenty of fresh ingredients to further boost its nutrient content. This delicious CBD pasta recipe is sure to please, and you can feel good about helping your family do something good for their well being. 

CBD Pasta – Infused Penne Rosa Recipe

Nothing brings a family together like preparing and sharing a home cooked dinner together. This from scratch recipe uses fresh garden ingredients like garlic, mushrooms, tomatoes, spinach, and more for a wholesome, naturally nourishing meal. 

For a healthier take on a popular comfort food, this penne rosa CBD pasta dish is quick and easy to whip up on a weeknight. This recipe makes 6 servings, enough for the whole family. Here is what you will need. 

Ingredients:

  • 1 tablespoon olive oil
  • 4 cloves garlic, minced
  • 1 pinch crushed red pepper flakes
  • 8 ounces button mushrooms, sliced
  • 2 medium tomatoes, chopped
  • Salt and pepper, to taste
  • 4 cups fresh spinach
  • ½ cup marinara sauce
  • 12 ounces whole wheat penne, cooked
  • 1/3 cup plain Greek yogurt
  • ¼ cup grated parmesan cheese
  • 6 teaspoons RSHO™ Liquid (¾ teaspoon per serving) as desired

Instructions:

  1. In a large skillet with lid, heat olive oil over medium-low heat.
  2. Add in garlic and red pepper flakes. Cook until garlic softens – about 2 minutes.
  3. Stir in mushrooms, tomatoes, salt and pepper. Cook until mushrooms start to release their water – about 5 minutes.
  4. Add in spinach and cover skillet. Let spinach wilt for 2 minutes.
  5. Remove lid and stir in the pasta sauce. Remove the skillet from the heat, and let rest for 5 minutes.
  6. While the vegetable sauce mix cools, use a small bowl to mix RSHO™ Liquid into the Greek Yogurt. Stir thoroughly.
  7. Stir in Greek yogurt-CBD oil mix into the sauce, and then add the penne. Toss until pasta and vegetables are coated.
  8. Divide into pasta bowls and top with grated parmesan cheese before serving.

Optional: You can add a protein to this recipe, such as Italian sausage, meatballs, grilled chicken, etc. by preparing protein separately and then tossing it with the pasta and sauce in step 7.

Why CBD Edibles

Infusing edibles with CBD is a great way to add the benefits of hemp derived CBD into your diet. When CBD is taken with food, the body is able to more efficiently absorb the CBD and other cannabinoids before transporting throughout the body. 

Here is more about why you should take CBD oil with food. 

There are literally dozens and dozens of possible recipes featuring CBD oil tinctures and liquids. Use our CBD recipes to stimulate your creative cooking juices. Keep in mind that it isn’t suggested that you cook with the oil, as doing so can diminish potency.

You can get RSHO™ Liquids in our Green, Blue, and Gold Labels, giving you the choice between our non-decarboxylated, decarboxylated, and filtered options. You can also opt for our zero-THC RSHO-X™. Available in 4 oz. bottles, RSHO™ Liquids provide 31 mg of CBD per serving.

Learn More

Read more about the benefits of CBD and other CBD topics now on our CBD Oil Education page. 


[Read More ...]

additional information, George Scorsis

October 21, 2019
 

Infuse wellness into everyone’s favorite game time or late night snack with this homemade DIY CBD guacamole. 

Whether you are hosting friends or curling up on the couch to watch a movie, CBD guacamole is a great way to relax and enjoy a delicious snack boosted with the wellness properties of CBD. 

Our guacamole recipe takes advantage of Real Scientific Hemp Oil™ CBD Liquids. RSHO™ liquids blend pure hemp oil into medium-chain triglyceride (MCT) oil to provide the balancing properties of CBD in a versatile liquid form that can be mixed into almost any prepared food, including guacamole. 

CBD Guacamole Recipe

This recipe takes only 15-20 minutes to prepare and makes enough for 4 servings. You can change these ingredients according to your tastes or any dietary restrictions. You can also adjust the amount of CBD up or down by adding more or less RSHO™ liquid. 

Now let’s get ready to make some CBD guacamole. Here is what you will need.

Ingredients:

  • 3 avocados, peeled, pitted, and mashed
  • 1 lime, juiced
  • 1 teaspoon salt
  • ½ cup diced onion
  • 3 tablespoon chopped fresh cilantro
  • 2 roma tomatoes
  • 1 teaspoon minced garlic
  • 1 pinch cayenne pepper, optional
  • 3 teaspoons RSHO™ Liquid (¾ teaspoon per serving) as desired

Instructions:

  1. In a medium bowl, mash together the avocados, lime juice, RSHO™ Liquid, and salt.
  2. Mix in onion, cilantro, tomatoes, and garlic.
  3. Stir in cayenne pepper.
  4. Refrigerate 1 hour before serving.

Why CBD Edibles

Infusing edibles with CBD is a great way to add the benefits of hemp derived CBD into your diet. When CBD is taken with food, the body is able to more efficiently absorb the CBD and other cannabinoids before transporting throughout the body. 

Here is more about why you should take CBD oil with food

There are literally dozens and dozens of possible recipes featuring CBD oil tinctures and liquids. Use our CBD recipes to stimulate your creative cooking juices. Keep in mind that it isn’t suggested that you cook with the oil, as doing so can diminish potency.

You can get RSHO™ Liquids in our Green, Blue, and Gold Labels, giving you the choice between our non-decarboxylated, decarboxylated, and filtered options. You can also opt for our zero-THC RSHO-X™. Available in 4 oz. bottles, RSHO™ Liquids provide 31 mg of CBD per serving.

Learn More

Read more about the benefits of CBD and other CBD topics now on our CBD Oil Education page. 


[Read More ...]

George Scorsis

October 21, 2019
 

Nevada cannabis regulators suspended the license of a Reno cultivator, just days after the beginning of an investigation into the industry by a governor-appointed, multiagency task force. The cultivator, Helio, was notified of the suspension Friday, according to the Reno Gazette Journal. The action comes as a task force has been making unannounced spot inspections of several

Nevada suspends Reno marijuana grower’s license is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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more information, George Scorsis

October 21, 2019
 

Maine regulators adopted a symbol that will be required on marijuana products sold for recreational use, starting next year. The Maine Office of Marijuana Policy partnered with the Massachusetts Cannabis Control Commission to unveil a shared universal symbol for cannabis and marijuana products. The symbol, already in use in Massachusetts, features a red triangle with

Maine requiring cannabis label for recreational products is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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addiitional information, George Scorsis

October 21, 2019
 
Cannabis NewsOctober 21 News - Canopy Growth, Indiva, Nutritional High, Trulieve, Harorside, 4Front
Canopy Growth Corporation Indiva Limited Nutritional High International Inc Trulieve Cannabis Corp Harborside Inc 4Front Ventures Corp ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis Liberty Health Sciences

October 19, 2019
 

Cannabis growers need to maintain solid cultivation practices through the entire harvest process to ensure the tough job of raising a good crop doesn't go for naught.

There are tricks to getting a cannabis crop safely to harvest is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

October 18, 2019
 

A Nevada task force investigating possible corruption in the marijuana industry already has conducted unannounced spot inspections at several testing laboratories. The inspections are being done, the Las Vegas Journal-Review reported, after allegations emerged that test results had been manipulated, allowing products with unacceptable levels of mold, yeast and other microbials to be sold to

Nevada inspecting cannabis testing labs in corruption probe is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Aphria

October 18, 2019
 
Halo Labs (NEO:HALO), StoneCastle Cannabis Update & Todd Shapiro - Midas Letter RAW 274
Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

george scorsis

October 18, 2019
 

Everything you need to know to choose your perfect first vape pen.

A clean, flavorful method of consuming vape liquids, botanical waxes, and dry herbs wherever you go, vape pens are a popular choice among Medical Marijuana, Inc. customers because they are simple to use, low cost, and ultra portable. But how do you choose the right one? And what makes a great beginner vape pen?

Vape pens like those in our store have a number of different options – like type of material they vape, strength of the battery, type of heating element, button or buttonless activation, and more. Here we help you recognize what to look for when shopping for a beginner vape pen and recommend our best vapes for first time vapers, but first, let’s look at the basics of vaping.

What is Vaping?

Vaping is a common alternative to smoking that has grown in popularity in recent years as more and more users begin to discover the many benefits of vaping.

Vaporizers like vape pens work by heating your vape material – such as dry flower, wax, oil, and eliquid – to their vaporization points, but below their combustion points, to produce a clean, flavorful vapor that can be inhaled, absorbing the active ingredients from the vapor through your lungs.

Best beginner vape pen

Why Should I Vape?

Consumers choose to start vaping because it offers them a number of advantages over smoking, as well as other methods of consumption.

Since vaporizers don’t burn your vape material, vaping helps users avoid the toxins and carcinogens associated with smoking, reducing smoking’s negative health concerns. There is also no foul smoke smell to linger on clothing, hair, and furniture. Instead, vape pens create a clean vapor with a mild scent that dissipates quickly.

Vaping is also a fast and effective way to capture the benefits of your vape material. When you inhale vapor from your vape pen, the active ingredients in the vapor are absorbed by the lungs. Whether you’re a connoisseur or a vaping beginner, this is the fastest and most effective way to consume botanical extracts and dry flower, with effects starting nearly instantaneously.

How Do Vape Pens Work?

The elements of a vape pen kit

Vape pens use battery power to heat dry herb or botanical extracts in the form of wax, oil, or liquid to their vaporization point, creating clean, flavorful vapor that users can inhale. To do this, vape pens, including beginner vape pens, have three important parts: the battery, the atomizer, and the cartridge or tank.

First, we will look at its battery. Vaporizer batteries come in a variety of shapes and sizes, from pencil thin, to short and boxy, and even fatter models that support hotter temperatures and a longer time between charges. Batteries also come in a choice of voltages, and some even allow you to change the voltage (and the resulting heat produced) to fine tune your vaping experience.

Your battery will connect to the vape pen’s atomizer or heating element. The atomizer is responsible for converting the vape pen’s electrical power from the battery into heat. This allows you to heat your vape material in your vaporizer, whether it is dry flower, vape juice, or other botanical oil extracts.

While most vape pens use conduction heat, heating your dry herb or oil of a hot surface, some other vaporizers make use of convection heating that moves heat evenly over vape material. Convection heating is most popular in vaping dry flower. These heating elements (often called atomizers) come in a variety of styles and materials, such as metal coils or ceramic surfaces.

Finally, vape pens have a section that holds your vape material. In some cases, especially in disposable vapes, this is called the cartridge, or pod. Your vape cartridge will often also contain the atomizer as a single unit. While this is common in disposable vape cartridges, it is also possible to buy this style of cartridge in a refillable model. Other times, the atomizer will be a separate piece that attaches to the vape pen’s tank or chamber (the piece that holds your vape material).

Using your vape pen

Once your vape pen parts are assembled and filled with your vape material, you are ready to get started. There are two ways vape pens are activated. Some pens are what is called “autodraw”. This means that all you need to do is take a draw or puff and the pen will heat up creating inhalable vapor. The other style is button activated, meaning you need to hold down a button to activate your pen’s heating element. In either case, you will inhale the vapor from the vape pen’s mouthpiece.

Although many beginners prefer autodraw because it removes a step and makes it easier to take quick puffs, it comes down to a matter of preference when choosing autodraw versus button-activated. Autodraw beginner vape pens also won’t be accidentally turned on when kept in a pocket or purse like a button-activated pen might.

Now that you know the basics and some important terms, it is time to start looking for your perfect starter vape.

best vape mod beginner

Tabletop Vaporizers vs Vape Pens

When selecting your first vaporizer, you will have to choose between a larger tabletop vaporizer and more portable vape pens. Many beginners choose vape pens and other portable vapes for reasons like their small size, lower cost, and ease of use.

Consumers who are new to vaping botanical waxes or dry flower usually prefer not to invest in a bulky tabletop vaporizer with advanced features they may not use. Instead, many beginner vapers choose smaller vape pens because they offer a simplified vaping experience with features like preset temperatures and buttonless activation that make it easy to pick them up and get started vaping right away.

The smaller size of vape pens vs tabletop vaporizers is also a popular selling point for this type of vape. Beginner vape pens, living up to their name, are often the size of a highlighter pen or even smaller. This minimalist design means they can be used discreetly wherever you go and can easily slip into your pocket or bag between uses.

Because they offer fewer advanced features and use smaller hardware, beginner vaporizer pens usually have a lower price tag than tabletop vapes. The tabletop vaporizers in our store start at $119.99 and range up to $500. In comparison, you can get started vaping with a vape pen for just $19.99, and the most expensive vape pen in our store is $99.99.

Seeing these advantages for first-time vapers, many beginners choose a vape pen when just starting out.

Best Vape Pens for Beginners

If you are just starting out using a vape pen, it may be helpful to know which vapes best fit your individual needs, including size, cost, user features, and type of vape material with which each vape pen is compatible. This can make choosing the best beginner vape pen easier.

There are many choices in beginner vape pens on the market, and even just in the Medical Marijuana, Inc. store, there are dozens of vape pens to choose from. To help you narrow your search, here are the best starter vapes in each category.

Best Starter Oil and Liquid Vape Pen: KandyPens Slim

Best beginner vape pen for CBD oil and liquid : KandyPens Slim

The first choice for many consumers looking for a straight forward, ultraportable, and easy to use oil and eliquid vape pen, the KandyPens Slim is a common starter vape for beginners. The sleek battery is the same diameter as a standard ink pen. Buttonless autodraw activation makes use incredibly easy – just pull air in through the mouthpiece and inhale the vapor. There is no button to fumble with. KandyPens Slim uses the near industry standard 510 threading to connect to the included atomizer cartridge, which can be filled with your choice of vape oil or eliquid. If you want to vape oils or liquids the KandyPens Slim is one of the best vape pens for beginners.

Already own or planning to buy a prefilled cartridge? Then you can purchase just the Slim battery.

Best Beginner Dry Herb Vape Pen: Atmos Jump

Best beginner dry herb vape pen: Atmos Jump

Dry herb vapes make it possible to consume the active ingredients in your favorite dry herbs without the dangers associated with smoking, the traditional method for using dry herbs. However, finding a truly portable dry herb vape that was capable of thoroughly vaporizing your dry flower without combusting while still being beginner friendly used to be a challenge. Enter the Atmos Jump.

The Atmos Jump combines the incredible portability of a small vape pen with the effectiveness of a much larger vaporizer. That is largely due to the vape pen’s design, which protects your dry flower from the heating coils and allows more thorough heating without burning. An optimized single temperature also protects your dry herbs from combusting, while single button functionality simplifies use.

Visit our online store to buy Atmos Jump.

Best Wax Extract Vape Pen: KandyPens Galaxy

Best wax extract starter vape pen: KandyPens Galaxy

If your preferred vape material is waxes and similar botanical extracts, then the KandyPens Galaxy is a strong choice for a beginner vape pen. Dual quartz crystal heating coils provide even heat for full vaporization and no cold spots in the atomizer.

The KandyPens Galaxy has three variable heat settings, allowing you to tailor your vape session. Choose the lower setting for a more flavorful vape. Use the higher setting for bigger, fuller clouds of vape. This flexibility means that the Galaxy vape pen from KandyPens works for a wide range of vaping preferences. Despite this customization, the Galaxy has single button functionality, keeping the user experience as simple as possible.

Visit our online store to buy KandyPens Galaxy.

Shop for Your Beginner Vape Pen Now

You can find these and other great beginner vaporizer pens now in the Medical Marijuana, Inc. store. If you want to learn more vaping basics, or still need help choosing a vape check out our guide to portable vaporizers, we have everything you need to get started!

The vape products and vaping advice featured in Medical Marijuana, Inc. posts are specifically for people looking to support their health with legal natural botanicals and are not created with nicotine or tobacco users in mind.


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George Scorsis

October 18, 2019
 

Toronto-based DionyMed, a multistate marijuana brands operator, is under pressure after key executives stepped down amid a possible credit default. CEO Edward Fields and Mark Zinselmeier, the chief operating officer, resigned from the company, which has businesses in states including California and Nevada. DionyMed received a notice of default under an existing credit agreement demanding

CEO of DionyMed cannabis company leaves amid possible default is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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george scorsis

October 18, 2019
 

Massachusetts cannabis regulators have lifted the roughly five-week suspension of marijuana cultivation license holder Nova Farms, but the operation remains under investigation. The state’s Cannabis Control Commission said it withdrew the suspension order after determining that threats to public health, safety, and welfare had been mitigated. Last month, criminal charges were dismissed against Mark Rioux, who has a

Massachusetts drops suspension against marijuana cultivator is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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george scorsis

October 16, 2019
 

Chicago’s City Council approved a zoning ordinance that bans recreational marijuana stores from the central business district but allows them to locate in part of the popular River North area downtown. Mayor Lori Lightfoot initially had proposed a ban covering nearly all of downtown, but she recently had a change of heart that unlocks some

Chicago allows some adult-use cannabis sales downtown is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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additional information, George Scorsis

October 16, 2019
 
420Investor Alan Brochstein & Harvest Health and Recreation (CNSX:HARV) - Midas Letter RAW 272
Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

addiitional information, George Scorsis

October 16, 2019
 
Harvest Health & Recreation (CNSX: HARV) on Track To Become Largest Vertically Integrated MSO in USA
Harvest Health & Recreation (CNSX:HARV) CEO, Steve White ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis website

October 16, 2019
 

A tax expert who spent six years as an IRS trial lawyer is sounding a new 280E alarm bell that many cannabis businesses might need to answer soon. Nick Richards, a Denver-based tax attorney who now works in the private sector with a clientele that includes marijuana firms, is calling attention to changes in IRS policy that

Former IRS attorney warns of upcoming ‘tsunami’ of marijuana-related 280E audits is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

October 15, 2019
 

Colorado regulators are finalizing rules to ban certain ingredients from marijuana vaping products, following the lead of other states with legal cannabis programs in the wake of a health crisis that has sickened more than a thousand and killed over two dozen people. At a public hearing Tuesday, Colorado’s Marijuana Enforcement Division discussed the proposed rules

Colorado proposes rules to ban additives in cannabis vape products is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis

October 15, 2019
 

Recent skepticism of the cannabis sector may be overblown, especially for companies that are fully funded - as highlighted by Aphria’s latest quarterly results.

Aphria’s latest results highlight positive outlook for marijuana industry is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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george scorsis

October 14, 2019
 

Banks and other financial institutions are gearing up for potential massive involvement with the marijuana industry after last month’s passage of the SAFE Banking Act by the U.S. House of Representatives. While it remains unclear how the measure might fare in the Senate and if President Trump would sign it into law, the bill’s eventual passage

Big banking shows more interest in serving cannabis clients after recent SAFE Act passage by U.S. House is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis

October 13, 2019
 

louisiana hemp cbd

The Agriculture Improvement Act of 2018 (“2018 Farm Bill”) legalized hemp by removing the crop and its derivatives from the definition of marijuana under the Controlled Substances Act (“CSA”) and by providing a detailed framework for the cultivation of hemp. The 2018 Farm Bill gives the US Department of Agriculture (“USDA”) regulatory authority over hemp cultivation at the federal level. In turn, states have the option to maintain primary regulatory authority over the crop cultivated within their borders by submitting a plan to the USDA.

This federal and state interplay has resulted in many legislative and regulatory changes at the state level. Indeed, most states have introduced (and adopted) bills that would authorize the commercial production of hemp within their borders. A smaller but growing number of states also regulate the sale of products derived from hemp.

In light of these legislative changes, we are presenting a 50-state series analyzing how each jurisdiction treats hemp-derived cannabidiol (“Hemp CBD”). Each Sunday, we summarize a new state in alphabetical order. Today, we head to the bayou: Louisiana.

Louisiana lawmakers recently adopted House Bill 138 (HB 138) and  House Bill 491 (HB 491) in light of the 2018 Farm Bill. HB 138 amends Louisiana’s definition of marijuana to exclude “industrial hemp that is in the possession, custody, or control of a person who holds a license issued by the Louisiana Department of Agriculture and Forestry, or is cultivated and processed in accordance with the U.S. Agriculture Improvement Act of 2018.” In turn, HB 138 defines industrial hemp as “the plant Cannabis sativa and any part of that plant, including the seeds thereof and all derivatives, extracts, cannabinoids, isomers, acids and salts of isomers, whether growing or not, with a delta-9-tetrahydrocannabinol concentration of not more than 0.3 percent on a dry weight basis and cultivated and processed in accordance with the U.S. Agriculture Improvement Act of 2018, or the plan submitted by the Louisiana Department of Agriculture and Forestry that is in compliance with the U.S. Department of Agriculture rules.” In Louisiana, hemp is only legal if it meets the THC concentration outlined in the 2018 Farm Bill and also was cultivated and processed legally, either in Lousiana or elsewhere.

HB 491 lays out the details of Louisiana’s hemp cultivation plan. The Louisiana Department of Agriculture and Forestry (LDAF) oversees the program. LDAF issues the following licenses:

  • Grower License – authorizes the licensee to cultivate, handle and transport industrial hemp;
  • Processor License – authorizes the licensee to handle, process and transport industrial hemp;
  • Seed Producer – authorizes the licensee to produce, transport and sell industrial hemp seed; and
  • Contract Carrier – authorizes the licensee to transport industrial hemp (required when the transporter is not the licensed grower or processor of the plant material).

LDAF has not yet begun issuing these licenses as the USDA has yet to approve any state plan, including Louisiana’s. With regards to hemp cultivation, HB 491 tracks the farm bill closely. It is worth mentioning that any person transporting or delivering hemp in Louisiana must carry a dated invoice, bill of lading, or manifest which shall include the seller and purchaser’s name and address, the specific origin and destination, and the quantity of hemp. That’s important to note for anyone traveling through Louisiana with hemp.

HB 491 also covers Hemp-CBD products. No person may process or sell (1) any part of hemp for inhalation, (2) any alcoholic beverage containing CBD, or (3) any food product or beverage containing CBD unless the FDA approves CBD as a food additive. All Hemp-CBD products must be labeled and registered in accordance with Louisiana’s  Food, Drug and Cosmetic Law (R.S. 40:601 et seq.). Hemp-CBD may not be marketed as a dietary supplement. In addition, Hemp-CBD labels must meet the following criteria and be approved by the Louisiana Department of Health:

  • Contain the following language: “This product has not been evaluated by the Food and Drug Administration and is not intended to diagnose, treat, cure, or prevent any disease.”
  • Contain no medical claim
  • Have a scannable bar code, QR code, or web address linked to a Certificate of Analysis (COA)

COAs for Hemp-CBD products in Louisiana must contain the following:

  •  The batch identification number, date received, date of completion, and the method of analysis for each test conducted.
  • Test results identifying the cannabinoid profile by percentage of dry weight, solvents, pesticides, microbials, and heavy metals.

Retailer sellers of Hemp-CBD must (1) register with the Office of Alcohol Tobacco Control (OATC) and (2) meet the above specific labeling and testing requirements. Hemp-CBD may only be sold by businesses holding a CBD Dealer Permit from OATC, which requires a location in Louisiana where products are stored and/or sold. CBD Dealer Permit applicants must also have been residents of the state of Louisiana for two years prior to applying. These provisions make the online sale of Hemp-CBD in Louisiana impractical in most cases. 

Stay tuned to the Canna Law Blog for developments on hemp and Hemp CBD in Louisana and other states across the country. For previous coverage in this series, check out the links below:


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George Scorsis

October 12, 2019
 
Quebec Precious Metals (CVE:CJC) Exploration Plans for Highly-Prospective James Bay Territory
Quebec Precious Metals Corporation (TSX.V:CJC) (OTC-BB:CJCFF) CEO Normand Champigny joins Midas Letter to discuss the highly-prospective Eeyou Istchee James Bay territory in Quebec, which it describes as "the next Eleonore Mine". The Eleonore Mine is 90 kilometres from the Eleonore mine, which is one of Canada's largest gold mines producing over 350,000 ounces of gold annually. The project already has infrastructure in place to be able to explore and drill all-year round. The CEO states Quebec Precious Metals is planning on drilling at least 10,000 meters. The company have recently announced exploration plans for the first phase of the 2019 program in the James Bay territory. The program will primarily focus on advancing its flagship project Sakami and the La Pointe deposit. As of the interview date, a total of 100 diamond drill holes have intercepted the deposit.

George Scorsis

October 11, 2019
 

California-based cannabis company Bloom Farms settled a defamation lawsuit filed by Oregon’s Cura Partners for an undisclosed sum. Neither company would disclose details of the settlement of the case filed in January in Alameda County Superior Court in California, according to multiple news reports. Cura claimed in the suit that Bloom, an industry rival, had

Bloom Farms, Cura Partners settle marijuana lawsuit is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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additional info, George Scorsis

October 11, 2019
 

Days after Hexo's CFO resigned, the marijuana company announced a huge miss to fiscal fourth-quarter revenue and withdrew its 2020 revenue guidance.

Cannabis company Hexo’s stock craters on bad news is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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additional info, George Scorsis

October 11, 2019
 
In-Depth Look Into the Declining Cannabis Market - Canopy, Hexo
Bruce Campbel - Stonecastle Investment Analysis ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis Aphria

October 11, 2019
 

Cultivator of the Year. Regional Game Changer. Community Impact. These are just some of the categories for which the editorial team of Marijuana Business Daily vetted more than 670 entries for the inaugural MJBizDaily Awards. With the list of nominees having been culled to 55 finalists, a panel of cannabis industry professionals is hard at

55 finalists announced for inaugural MJBizDaily Awards honoring cannabis companies, executives is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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george scorsis

October 10, 2019
 

Sales of medical cannabis in Arkansas continue at a strong pace, totaling $12.35 million in the first five months of the program. At this rate, sales are on pace to reach the upper end if not exceed Marijuana Business Factbook projections of $15 million-$20 million for 2019. The sales, representing 1,730 pounds of marijuana, were

Arkansas medical marijuana sales brisk, total $12.3 million for five months is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

October 10, 2019
 

U.S. Senate Majority Leader Mitch McConnell is scheduled to talk with cannabis industry executives this week in California about marijuana banking legislation and other issues, perhaps signaling that the Kentucky Republican is open to MJ reform. McConnell is a key gatekeeper in determining whether cannabis banking reform legislation, which recently passed the U.S. House of

US Senate leader McConnell expected to discuss marijuana banking reform is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis

October 10, 2019
 
StoneCastle Investment
Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis website

October 09, 2019
 

New Frontier Data, a privately owned data analytics firm in Washington DC that focuses on the cannabis industry, plans to pay roughly $10 million for a Denver-area company in the same field. New Frontier Data reached an agreement to buy Zefyr, based in Greenwood Village, Colorado, in a cash and stock deal. The acquisition will

New Frontier Data paying $10 million for cannabis research firm is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis

October 09, 2019
 
Cannabis News September 9th 2019 - Acreage , Canopy Growth, Sundial Weekend, James E. Wagner
Acreage Holdings, Inc Canopy Growth Corp Sundial Growers Inc Weekend Unlimited Inc James E. Wagner Cultivation Corporation AgraFlora Organics International Inc ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis

October 09, 2019
 

canada cbd border marijuana

In a recent tweet, the Canada Border Services Agency (CBSA) reminded us that transporting CBD oil into Canada remains illegal. While in most places south of the 49th parallel what CBSA has to say is of little consequence, it certainly matters here in Washington State, where you’re never too far away from the Canadian border. The full text of the tweet reads:

#DYK that transporting #CBDOil across the border remains illegal? Transporting any form of #cannabis across the border without a permit or exemption authorized by @GovCanHealth remains a serious offence. #DontBringItIn #DontTakeItOut

With the coming into force of the Cannabis Act on October 17, 2019, recreational marijuana use became legal on both sides of Washington State’s 427-mile border with British Columbia, as well as other stretches of the U.S.-Canada boundary. This created a situation ripe for confusion. The man (or woman) on the Amtrak Cascades might reasonably conclude that there is nothing wrong with taking a cannabis product bought legally at a Seattle shop to Vancouver, where it can also be purchased legally.

However, as the Canadian government made clear in the information sheet it sent to every household in the country prior to the Cannabis Act’s effective date: “It’s illegal to take cannabis and cannabis products, including those with CBD, across the Canadian border, whether you’re leaving or coming to Canada. This applies to all countries, whether cannabis is legal there or not.”

With CBD products also on the hook, the potential for confusion extends to much of the borderlands. For instance, while Montana has a much stricter cannabis regime than Washington State, THC-free CBD products are not illegal in Big Sky Country. This puts not just the marijuana aficionado from Tacoma on his way to party in Van at risk of border trouble, but also the arthritic retiree from Helena heading up for a weekend in Banff.

To be fair, it’s not uncommon at all for products that are legal on both sides of a border to be subject to customs controls, for revenue and/or regulatory reasons. That said, the situation with cannabis along the U.S.-Canada border is more fraught with risk because it is still an illegal drug as far as the U.S. federal government is concerned.

It is perfectly understandably for U.S. Customs and Border Protection (CBP) to be on the lookout for cannabis products. The agency is tasked with enforcing federal law, and logically their officers in Metaline Falls, Washington should not go about their duties any differently that their colleagues 55 miles away in Eastport, Idaho. However, it is clear appears that the Feds are going far beyond that—with Canadians feeling much of the pain.

The CBC is likely not exaggerating when it reports, “Thousands of Canadians have been denied entry to the U.S. simply for admitting they’ve smoked a joint once in their lives.” As my colleague Akshat Divatia recently explained:

U.S. law will not recognize any amnesty or pardon by Canadian authorities for cannabis-related convictions. Admitting to a CBP officer that you used marijuana any time before legalization is the equivalent of a formal court conviction for that crime and you will likely be denied entry into the United States.”

The same CBC article notes than an “unsuspecting CBD oil user”—remember our arthritic retiree—could be “banned from entering the [U.S.] for life.” But you don’t even need to carry or even have used cannabis products to get in trouble. As Akshat notes:

Those who legally work in the Canadian cannabis industry must provide details about their role and convince U.S. border officers that their trip to the U.S. is purely personal. Cannabis workers will likely need to prove that while in the U.S., they will not engage in any networking or strategic meetings, presentations, marketing efforts, or any manufacturing or distribution activities with customers or cannabis industry colleagues.”

Stated less elegantly, coming to the U.S. for cannabis-related business is a no-no. Even investing in cannabis businesses could theoretically get you banned for life from the United States. With this kind of onslaught, even innocuous activities such as changing planes at a U.S. airport to attend a cannabis conference in a third country are causes of concern.

It doesn’t stop there, though. In at least one instance that we know of, CBP took away NEXUS privileges from someone who wrote a reference letter for a fellow Canadian applying for a waiver for a marijuana-related ineligibility. This is worth repeating. They did not take away NEXUS privileges from someone who him or herself had a marijuana ineligibility, but rather from someone who wanted to help that person by writing a letter. This would be akin to a lawyer getting sanctioned for serving as a character reference for a bar applicant who had a run-in with the law in the past.

You might think, well, it’s just NEXUS—wait in the regular line like the rest of us. But the ability to avoid long waits at the border can be critical for persons engaged in cross-border business activities. And, again, the privileges are being taken away for writing a letter.

I wish I could say that the bottom line is as simple as not taking any cannabis products—whether THC, CBD or somewhere in between—with you when you cross the border. However, the risks run much deeper for Canadians and other foreigners with any cannabis involvement heading south. And to be sure, this includes foreigners living in the United States, who are pretty much subject to the same ineligibilities.

If in doubt, talk to a lawyer before you go anywhere near the Peace Arch. DON’T take chances: The consequences can be as serious as they get.


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George Scorsis

October 08, 2019
 

The cannabis industry experienced a 62% year-over-year jump in banking options in the federal government’s most recent quarter. The number of banks and credit unions actively serving the marijuana industry totaled 715 in the U.S. government’s fiscal third quarter, which ended June 30, federal data shows. The data reflects a healthy increase in the number

Even without reform, banks increasingly serving marijuana industry is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

george scorsis

October 08, 2019
 

New Mexico regulators are requiring marijuana vape products to be labeled with a warning in the wake of the nationwide vaping health crisis. The health department isn’t banning any products at this time but wants the public to be aware that both marijuana and nicotine vape products are believed to cause health problems. Medical marijuana

New Mexico requires cannabis vape products to include health warning is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis

October 08, 2019
 
An Introduction to Jushi Holdings Inc. (NEO: JUSH.B)
Jushi Holdings Inc. (NEO: JUSH.B) Founder & President Erich Mauff ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis

October 07, 2019
 

Voting on resolutions to regulate the cultivation and registration of cannabis-based medicines in Brazil has been postponed, the Agência Nacional de Vigilância Sanitária – or National Sanitary Surveillance Agency (ANVISA) – announced Monday. Voting was originally scheduled to take place Tuesday. The delay throws the future of the groundbreaking proposals in doubt. The reason given for the postponement was

Brazil postpones vote on key marijuana proposals, raising questions about their future is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis Liberty Health Sciences

October 07, 2019
 

Maine state officials said they are poised to begin accepting adult-use marijuana license applications before the end of the year and expect customers will have the ability to purchase products in retail stores by March. There are no statewide license caps, but municipalities can limit or ban recreational marijuana in their jurisdictions – and most

Maine on track to launch recreational cannabis sales by spring 2020 is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis Liberty Health Sciences

October 07, 2019
 

Village Farms is counting on its 30-plus years of experience in megascale, low-cost product growing to give it a leg up as it shifts focus to the Canadian cannabis and U.S. hemp markets.

Exclusive Webcast: Village Farms CEO talks branding, strategy for marijuana is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis

October 07, 2019
 

California’s cannabis testing industry was stressed to the brink in 2018, with newly required testing thresholds going into effect first in July 2018 and then in January 2019. The result at the time was long waits for test results, a temporary increase in product testing failures and various industry stakeholders arguing the state needed far

Life has stabilized for California testing labs since 2018, but hurdles remain is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

george scorsis

October 06, 2019
 

kentucky hemp cbdThe Agriculture Improvement Act of 2018 (“2018 Farm Bill”) legalized hemp by removing the crop and its derivatives from the definition of marijuana under the Controlled Substances Act (“CSA”) and by providing a detailed framework for the cultivation of hemp. The 2018 Farm Bill gives the US Department of Agriculture (“USDA”) regulatory authority over hemp cultivation at the federal level. In turn, states have the option to maintain primary regulatory authority over the crop cultivated within their borders by submitting a plan to the USDA.

This federal and state interplay has resulted in many legislative and regulatory changes at the state level. Indeed, most states have introduced (and adopted) bills that would authorize the commercial production of hemp within their borders. A smaller but growing number of states also regulate the sale of products derived from hemp.

In light of these legislative changes, we are presenting a 50-state series analyzing how each jurisdiction treats hemp-derived cannabidiol (“Hemp CBD”). Each Sunday, we summarize a new state in alphabetical order. Today, we turn to Kentucky. This might come as a surprise to some readers, but Kentucky is one of the more hemp friendly states in the U.S.

Kentucky’s definition of industrial hemp mirrors the definition in the 2014 Federal Farm Bill. The Kentucky Department of Agriculture (“KDA”) oversees the state’s Industrial Hemp Research Pilot Program (the “Program”). Per the program, licenses are required to cultivate,  handle, process, and market hemp. The application period this year for cultivators, as well as processors and handlers, has already closed.

To legally grow hemp, a cultivator must apply with KDA. Kentucky, unlike many other states, has robust regulations and requirements for hemp cultivators. Kentucky includes express provisions for hemp pesticide use, and requires all hemp cultivators to enter into a hemp grower licensing agreement with KDA. This is much more comprehensive than some other states that have little oversight over hemp cultivators.

Kentucky also imposes strict licensing requirements on hemp processors and hemp handlers. Hemp licensees must follow strict hemp manufacturing, testing, and labeling requirements . There are even animal feed requirements. Hemp in its wholesale form also may not be sold to non-licensees within Kentucky.

In Kentucky, Hemp CBD products are lawful, but certain hemp products are clearly prohibited including the following:

  • Hemp cigarettes;
  • Hemp cigars;
  • Chew, dip, or other smokeless material consisting of hemp leaf material or hemp floral material; and
  • Hemp leaf material or floral material teas.

In addition, only hemp license holders may possess or distribute whole hemp buds, ground hemp floral material, ground hemp leaf material, or any hemp product with more than 0.3 delta-9-THC.

As we’ve written previously, Kentucky is one of the few states that actually prohibits smokeable hemp, in spite of its pretty lax standards when it comes to the sale of Hemp CBD (in stark contrast to states like California or even the FDA, which claim that many Hemp CBD products are unlawful but say nothing about smokeable hemp). Though the regulations are not quite as clear on vapor products, given the current climate around vapor products generally and Kentucky’s position on other smokeable hemp products, Kentucky is not a good state in which to distribute any smokable hemp products.

Stay tuned to the Canna Law Blog for developments on hemp and Hemp CBD in Kansas and other states across the country. For previous coverage in this series, check out the links below:


[Read More ...]

George Scorsis Liberty Health Sciences

October 05, 2019
 

safe banking act cannabis

Great news! In a pretty historic moment, the House of Representatives officially voted to pass the SAFE Banking Act (H.R. 1595). We’ve extensively covered the Act’s progress in past posts (the latest can be found here and here), but just as a reminder, the Act would finally allow the cannabis industry to access banking and financial services. It’s gained a lot of support over time, and it passed in the House yesterday by a vote of 321 to 103.  All but one Democrat (Rep. Terri Sewell (D-AL)) was in favor, and almost half of the Republic caucus was as well.

Though the fight is far from over, yesterday’s vote is a major win and milestone sign of progress for so many: cannabis retailers, banks, credit unions, and more. While it doesn’t do anything in terms of the larger fight for decriminalization, it does shield banks and insurers from penalties if they choose to serve state-legal cannabis industries. Under the Act, a federal financial regulator won’t be able to terminate or limit the depository or share insurance of a depository institution. It won’t be able to prohibit or penalize financial institutions from providing services to cannabis businesses. And, the Act provides protections for ancillary businesses in transactions with cannabis-related businesses.

As co-sponsor of the bill, Rep. Ed Perlmutter (D-CO) said on the House floor right before the vote: “It’s an invitation to theft, it’s an invitation to money laundering already, it’s an invitation to tax evasion, and it stifles the opportunities of this business.” Sen. Marco Rubio (R-FL) agreed: “I think you can be against marijuana and still understand that if it’s going to be a legalized product, we need to be able to control it through our banking system.” While the focus has been on the bill being a banking bill, Rep. Perlmutter also expressed his hope that passage of the SAFE Banking Act would eventually lead to Congress’ acknowledgment of the reality that 33 states (and counting) have now legalized marijuana in some form. “If someone wants to oppose legalization of marijuana, that’s their prerogative. But American voters have spoken and continue to speak, and the fact is you can’t put the genie back in the bottle,” Rep. Perlmutter. “Prohibition is over.”

Most Republicans opposed the bill for the same reason that Rep. Perlmutter hopes will come to fruition. Rep. Patrick McHenry (R-NC) argued that Congress should be facing the “underlying issue” of whether or not cannabis should be a Schedule I drug. “We do not fully understand the sweeping implications of this legislation. We do not yet know what the resulting regulatory regime will look like, nor do we have any assurance it will not expose the current financial system to illicit activity.” “This bill doesn’t change the fact that cannabis remains a prohibited Schedule I substance under the Controlled Substances Act. To that end, if we seek to give financial institutions certainty, we should deal with the listing of cannabis as a Schedule I substance, not debating a partial solution for financial institutions to what is a much larger problem and a larger societal issue that we must wrestle with.”

In any event, it’s important to note that the final version of the Act definitely included some additions specifically so that the legislation would be more appealing to certain Republican senators. To entice Senator Majority Leader, Mitch McConnell, a well-known advocate of hemp legalization, certain protections for hemp were added (because of hemp’s association with cannabis, hemp industry players have also had difficulties accessing banking services despite the fact that industrial hemp farming was nationally legalized in 2018). Similarly, the legislation includes another provision that would restrict bank regulators from pressing lenders to cut ties with customers based on their “reputational risk.” This was aimed to appease Republicans who are against an Obama-era program that discouraged banks from serving payday lenders and gun retailers, known as Operation Choke Point. It’s believed that this second provision specifically had Sen. Crapo in mind.

Of course, the companion bill in the Senate, introduced by Sen. Jeff Merkley (D-OR) and Sen. Cory Gardner (R-CO) back in April, has yet to be voted on by the Senate Banking Committee. There have been some positive signs for the legislation, most notably coming from Senate Banking Committee Chairman Mike Crapo (R-ID) and a lack of apparent opposition from President Donald Trump. The Senate is currently in recess but returns this Tuesday, October 8.


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george scorsis

October 04, 2019
 

A four-month ban in Massachusetts on the sale of all marijuana and tobacco vaping products is expected to remain in place. On Friday, U.S. District Judge Indira Talwani was “leaning toward” dismissing a temporary restraining order to stop the ban, which is being sought by the Vapor Technology Association, a national industry trade group, according

MA vaping ban, including cannabis products, expected to survive court challenge is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Liberty Health Sciences

October 04, 2019
 

Nevada’s first cannabis tasting room is opening this weekend, giving the venue a head start on a sector that won’t be widely available for two years. The Las Vegas Pauite Tribe will open the establishment Saturday at the NuWu Cannabis Marketplace, which is located on tribal land about two blocks from downtown Las Vegas. In June, Nevada

Nevada’s first marijuana lounge opens this weekend is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

October 04, 2019
 

The Alaska Alcoholic Beverage Control Board wants to remove the state’s top alcohol and marijuana regulator, marking the latest potentially destabilizing development for the state’s cannabis industry. The board voted 5-0 at a special meeting Thursday to remove Erika McConnell, director of the Alaska Alcohol & Marijuana Control Office, according to the Anchorage Daily News.

Alaska’s top cannabis regulator under siege by state liquor board is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Aphria

October 04, 2019
 

Brazil’s Agência Nacional de Vigilância Sanitária – a.k.a. National Sanitary Surveillance Agency (ANVISA) – is expected to vote next week on two draft resolutions which could have sweeping ramifications for the medical cannabis industry. If approved, the proposals would for the first time regulate the domestic cultivation of medical cannabis in Brazil and create a framework

Date looms for Brazil decision on medical cannabis cultivation, product registration is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Aphria

October 04, 2019
 

Washington state cannabis regulators approved a two-month contract extension for Leaf Data Systems, the seed-to-sale tracking product offered by Denver-based software company Akerna. The contract lasts until Nov. 30, “to focus solely on providing a stable system to our users,” said Megan Duffy, deputy director and executive sponsor of the Washington State Liquor and Cannabis

WA extends marijuana traceability system contract with Leaf Data Systems is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

October 04, 2019
 
SLANG Worldwide
SLANG Worldwide (CNSX: SLNG) CEO, Peter Miller ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis

October 03, 2019
 

This report takes a closer look at the vape segment of cannabis and provides a framework to assess the downside risk and upside potential of stocks with significant exposure to the sector.

New report: Impact, outlook for investors in wake of marijuana vape crisis is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

October 03, 2019
 
Cannabis News October 3 2019 -  Aurora, Canopy Rivers, Green Growth, Planet 13, Sundial VIVO
Aurora Cannabis Inc Canopy Rivers Inc Green Growth Brands Inc Planet 13 Holdings Inc Sundial Growers Inc VIVO Cannabis Inc Origin House Tetra Bio-Pharma Inc ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis

October 03, 2019
 

State-legal cannabis vape products and the companies selling or distributing them may not be the principal cause of the recent outbreak of respiratory illnesses in the United States, but those firms are feeling the effects nonetheless.

Vaping health scare takes toll on cannabis vape firms’ stock prices, but many see longer term opportunity beyond crisis is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

October 02, 2019
 
CanAlaska Uranium (CVE: CVV) & Chart Analysis - Midas Letter Raw 264
Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis Aphria

October 02, 2019
 

San Diego is expected to crack down by year’s end on billboards advertising marijuana, a move supported by much of the cannabis industry. The proposed rule would ban cannabis billboard ads within 1,000 feet of schools, public parks, playgrounds, day care centers or youth centers, the San Diego Union-Tribune reported. The restrictions would apply to

San Diego preparing to restrict cannabis billboards is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Liberty Health Sciences

October 02, 2019
 

cannabis litigation employment flsaYes, cannabis is still federally illegal. But no, that doesn’t mean cannabis businesses should act as if federal law doesn’t exist. It does, and it probably applies to any cannabis business. Nevertheless, our cannabis attorneys often hear claims that federal law doesn’t apply. In fact, two questions that I’ve heard numerous times are:

  1. If the other side breaches this cannabis contract and we sue them, will they just claim that the contract is federally illegal to get off the hook, and if so, will the judge agree?
  2. Does federal law apply to our cannabis business?

The answer to the first question is admittedly pretty tough. Our cannabis attorneys see parties put all kinds of things in contracts to try to avoid this problem—from acknowledgements of federal illegality, to waivers of the right to bring a case in federal court, to outright waivers of the illegality defense. Whether any clauses could make a difference in litigation is not clear, and depending on the jurisdiction, a court could theoretically agree that the contract is illegal and can’t be enforced, though we believe that’s unlikely to happen in any state court in a state with a commercial cannabis licensing system. After all, one would hope that a judge wouldn’t sympathize with a party who signed a contract, breached it, and then claimed the whole thing was illegal.

The answer to the second question is much easier: federal law almost certainly applies. A good rule is that if the federal government says that a business has to do something, they have to do it. On the other hand, when federal laws offer protections or benefits to normal businesses, those often don’t apply to cannabis companies (such as bankruptcy protection or certain tax deductions). Here are a series of examples:

  • The Controlled Substances Act: Even though the federal government hasn’t really enforced the CSA against state-lawful operators in a few years, it actively enforces it against allegedly unlicensed operators. Theoretically, nothing is stopping the federal government from bringing charges against every licensed dispensary in the United States (with the exception of strictly medical operators as protected by the Rohrbacher Blumenauer amendment, as extended from time to time). In reality, it doesn’t look like the federal government will abandon its current policy of non-enforcement any time soon.
  • Federal Trademark Laws: Thinking of using an established company’s trademarks on cannabis goods? Well, they might haul you into court under the federal trademark laws. A federal trademark registration offers the holder the right to seek certain remedies against unlawful users of that trademark (the “infringer”), regardless of whether the infringer was selling a legal or illegal good. Even businesses without federal trademark registrations can bring trademark actions against infringers.
  • Federal Trade Secret Laws: If a cannabis company improperly acquires information, data, methods, or any other kind of secret from any other company, the cannabis company could be sued under the federal Defend Trade Secrets Act.
  • Federal Environmental Laws: Cannabis companies that don’t comply with federal environmental laws risk being penalized or even criminally indicted.
  • Federal Tax Laws: Yes, cannabis companies need to pay federal taxes, but unfortunately, thanks to Internal Revenue Code section 280E, they cannot take regular business deductions, so they end up paying taxes on their gross receipts less their allowed cost of goods sold.
  • Federal Employment Laws: Thanks to the Tenth Circuit Court of Appeals (a federal appellate court based in Denver that is one step below the U.S. Supreme Court), we can now add compliance with the Fair Labor Standards Act (“FLSA”) to this list.

The case at issue is Kenney v. Helix TCS, Inc., which we’ve been following for about a year. As we explained previously:

Helix TCS, INC. (“Helix”) provides security services to cannabis businesses. Kenney, an employee of Helix, was classified as an exempt employee, meaning Helix did not pay him overtime pursuant to the requirements of the FLSA. Kenney brought suit against Helix claiming he was misclassified as exempt and should have been paid overtime.

Helix moved to dismiss the case, arguing that Kenney was not entitled to the protections of the FLSA because cannabis was entirely forbidden under the CSA. The district court denied the motion to dismiss but certified the ruling for immediate appeal to the Tenth Circuit Court of Appeals.

On Appeal, Helix contends that its employees are not entitled to the protections of the FLSA. Helix’s main argument is that all participants in state recreational marijuana industries assume the risk that their activities will subject them to federal criminal sanctions and therefore they are not entitled to benefits under federal law, and cannot expect federal court to aid their conduct. Essentially Helix is arguing that the federal government would be assisting employees in drug trafficking if they afforded the employees the protections of the FLSA.

On September 20, 2019, a three-judge panel of the Tenth Circuit issued a concise, 12-page opinion unanimously disagreeing with Helix and holding conclusively that the FLSA does apply to cannabis businesses. In one part of the Kenney opinion, the court noted that “case law has repeatedly confirmed that employers are not excused from complying with federal laws just because their business practices are federally prohibited.” After reviewing this law, the court held that “the FLSA is focused on regulating the activity of businesses, in part on behalf of the individual workers’ well-being, rather than regulating the legality of individual workers’ activities.” In conclusion, the court held that the FLSA does apply to cannabis companies and allowed the case to proceed.

There is an important note in the wake of the Kenney case: the case is only “binding” on jurisdictions within the Tenth Circuit, which are the District of Colorado, District of Kansas, District of New Mexico, Eastern District of Oklahoma, Northern District of Oklahoma, Western District of Oklahoma, District of Utah, and District of Wyoming. The decision will just be “persuasive” authority for federal courts elsewhere in the U.S., which means that they don’t necessarily need to be adhered to. Even though Kenney won’t be binding on federal courts outside the Tenth Circuit, we don’t see many courts departing from the Kenney rule.

You may be asking why this case is relevant to the illegality defense. The answer is simple—the court’s reasoning is broad enough to apply outside of the context of the FLSA. In other words, courts across the country could either cite the case persuasively outside the FLSA context, or just come to different conclusions based on the same reasoning. Even if federal legality doesn’t happen soon, we expect that the federal illegality defense will continue to weaken substantially over the next few years.


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more details, George Scorsis

October 01, 2019
 

Recreational cannabis retailers could open far more stores in California if municipalities respond favorably to a poll that shows the majority of state residents welcome the legalization of adult-use MJ sales. The UC Berkeley Institute of Government Studies’ poll conducted for the Los Angeles Times found that 68% of Californians say the legalized sale of

Poll suggests Californians want more adult-use marijuana stores is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Aphria

October 01, 2019
 
PropGO - CEO, George Varvitsiotis
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George Scorsis

October 01, 2019
 
October 1 News - 48North, Australis, Canada House, Fire & Flower, Harborside, MediPharm
48North Cannabis Corp Australis Capital Inc Canada House Wellness Group Fire & Flower Holdings Corp Harborside Inc MediPharm Labs Corp Sundial Growers Inc World-Class Extractions Inc cbdMD, Inc ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis Liberty Health Sciences

September 30, 2019
 

Illinois officials identified areas where applicants who want to legally grow and sell recreational cannabis would get preference under the law’s social equity provision, one that some believe could become a national blueprint for other MJ programs. The map was released on the eve of the state making applications available for up to 75 rec

Illinois releases social-equity map for adult-use marijuana licensing is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

September 30, 2019
 
RavenQuest BioMed (CNSX:RQB) & Amex Exploration (CVE:AMX) - Midas Letter Raw 262
Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis Aphria

September 30, 2019
 
Sensi Prop - CEO, Daniel Sax
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george scorsis

September 30, 2019
 
Cannabis News Sept 30 News - iAnthus, Zenabis, Trulieve, Cresco Labs, Avicanna, 1933
iAnthus Capital Holdings, Inc Zenabis Global Inc Trulieve Cannabis Corp Cresco Labs Inc. Avicanna Inc 1933 Industries Inc Harvest Health & Recreation, Inc ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis website

September 30, 2019
 

(California Marijuana Notebook is a regular column that delves into the complicated issues surrounding the state’s immense cannabis market from the vantage point of Marijuana Business Daily Senior Reporter John Schroyer. Based in Sacramento, he’s been writing about the cannabis industry since joining MJBizDaily in 2014.) It appears one of the longest-standing controversies in the California marijuana industry will come

How Weedmaps’ major change in course may impact the cannabis industry is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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george scorsis

September 30, 2019
 

As the U.S. and Canadian marijuana markets continue to mature, consolidation is inescapable.

But cannabis entrepreneurs need to think more in terms of bigger buyers and smaller sellers, not winners and losers, in the race for market share.

There’s more to exiting a cannabis business than simply deciding whether to sell or go public is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

September 28, 2019
 

The gig economy has permeated U.S. culture as companies such as Uber, Lyft and DoorDash offer people a way to make a living while offering services that customers are demanding.

Cannabis companies seeking short-term help have plenty of options is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

September 27, 2019
 

A yearlong ban on all cannabis vaping sales introduced this week by a Los Angeles City Council member has many in the industry fretting over the future and scrambling to head the motion off before it becomes law. If the city does enact the proposed ban, that could lead to tens of millions – if not

Possible L.A. vaping ban could be ‘extinction event’ for some marijuana firms, California industry executives say is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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george scorsis

September 27, 2019
 

Health officials reported on Friday that the majority of those sickened in the vaping health crisis used cannabis vape products containing THC, and many of those in the first two states to report illnesses – Illinois and Wisconsin – said they used counterfeit marijuana products from the illicit market, not licensed MJ companies. The revelations,

CDC reports majority of patients sickened in vape epidemic used marijuana vaporizer devices – many from illicit market is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Aphria

September 27, 2019
 

Chicago-based Cresco Labs will sell two cultivation and processing facilities in Illinois to Innovative Industrial Properties, a real estate investment trust company (REIT), for $46.3 million as the multistate operator prepares for a “significant increase in demand” when recreational marijuana sales become legal in the state Jan. 1. The facilities, which will continue to be

Cresco Labs to sell marijuana facilities to REIT for $46.3M under leaseback deal is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

September 27, 2019
 

The U.S. House of Representatives’ vote approving legislation that would pave the way for financial institutions and insurance companies to serve state-legal marijuana businesses without fear of reprisal is a milestone for the cannabis industry. Nevertheless, the 321-103 House vote is but another step on a long and often bumpy legal road toward changing how

After the SAFE vote in US House, here’s what you need to know about the current state of banking in the marijuana industry is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis Aphria

September 27, 2019
 
Cannabis New August 27 2017 - Invictus, Cresco, Choom, Dixie Brands, Weekend Unlimited
Invictus MD Strategies Corp Cresco Labs Inc Choom Holdings Dixie Brands Inc Weekend Unlimited Inc ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis

September 27, 2019
 

A Los Angeles City Council member is moving to temporarily ban the sale of all marijuana vaping products in response to the recent vaping illness epidemic. Whether the measure will become law remains unclear. But, if successful, it could prove to be a major blow to cannabis retailers and vaporizer companies in the world’s largest

Los Angeles City Council expected to weigh one-year cannabis vape sales ban is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Aphria

September 26, 2019
 

Editor’s note: Sergio Vazquez will appear at the MJBizDaily Latin American Cannabis Symposium, Sept. 30-Oct. 1, in Bogota, Colombia.) Uruguay could see the start of an export stream for hemp as early as 2020, after a period of testing has been completed, marking a milestone for Latin American hemp industry. That’s according to Sergio Vazquez, head of

Uruguay’s hemp exports could start next year: Q&A with Sergio Vazquez of the agriculture ministry is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Aphria

September 25, 2019
 

In a landmark move, U.S. House lawmakers on Wednesday approved overwhelmingly by a 321-103 vote legislation that would pave the way for financial institutions and insurance companies to serve state-legal marijuana businesses without fear of federal reprisal. Ninety-one Republicans voted for the measure, in a showing of strong bipartisan support. The bill – the first piece

Historic day: US House passes cannabis banking bill with strong bipartisan support is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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more info, George Scorsis

September 25, 2019
 
Martin Cronin from Patriot One & Jake Heimark from Plus Products - Midas Letter RAW 260
Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

additional info, George Scorsis

September 25, 2019
 

A California health agency joined the chorus of officials across the country urging consumers to stop vaping all substances immediately, saying it’s still unsure what’s caused the recent epidemic that has sickened at least 530 and claimed nine lives in the U.S. The California Department of Public Health (CDPH) also announced that 90 Californians with a

California health officials urge residents to stop vaping tobacco, marijuana is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis Liberty Health Sciences

September 25, 2019
 

Earnouts are a common risk-allocation provision in cannabis and hemp mergers and acquisitions used to bridge the business-value gap between a business owner and an acquirer.

Why earnouts matter in cannabis M&A is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

george scorsis

September 25, 2019
 

Australia’s capital is the first part of the country to legalize recreational marijuana for personal use. The Australian Capital Territory Legislative Assembly voted on Wednesday to legalize possession by adults of up to 50 grams (1.8 ounces) of dried marijuana and cultivation of two marijuana plants beginning Jan. 31. The assembly is the local government

Australian capital legalizes recreational marijuana is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis Liberty Health Sciences

September 25, 2019
 

The multibillion-dollar U.S. cannabis industry is poised to cross a historic threshold Wednesday with a scheduled U.S. House vote on a bill that would permit financial institutions to serve state-legal marijuana businesses without fear of federal punishment. The vote would mark the first time a standalone marijuana bill has come before the full House. And it

At long last: A full US House vote on a cannabis banking bill is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

September 24, 2019
 

Massachusetts regulators approved two new types of licenses that could be a boon to marijuana businesses in the state – cannabis cafes and home delivery. The Springfield Republican reported that the Cannabis Control Commission voted 4-1 to allow social consumption of recreational marijuana at cafes as well as delivery of adult-use cannabis to residences. Both licenses

Massachusetts regulators say yes to marijuana cafes, home delivery is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

September 23, 2019
 
C21 Investments(CNSX:CXXI) aiming for profits by 2020
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addiitional information, George Scorsis

September 23, 2019
 

fda ftc cbd cannabis

Last week, the Federal Trade Commission (“FTC”) issued warning letters to three unnamed companies that advertised their CBD-infused products as treatments or cure for serious medical conditions.

These warning letters are nothing new. As we have explained before, making medical claims about CBD-infused products is the perfect way of falling under the scrutiny of federal authorities.

What may be surprising to some, however, is that the FTC sent out these letters, not the Food and Drug Administration (“FDA”). The regulatory authority of the FDA and of the FTC overlaps greatly.

Pursuant to the Food, Drug & Cosmetic Act (“FDCA”), the FDA has regulatory authority over labels and labeling and is to ensure that consumer products (foods, dietary supplements, cosmetics, tobacco products and drugs) are not misbranded. Generally, misbranding consists of false and misleading labeling. On the other hand, the FTC is tasked under the Federal Trade Commission Act (“FTC Act”) with regulating “advertising” to protect the public from unfair and deceptive claims in any medium.

The distinction between labeling (including packaging) and advertising is not always clear. Over the years, some courts have expanded the authority of both agencies by interpreting “labeling” to include products sold on the Internet, especially if purchased directly from a website. This expansion of power has blurred the lines between the FDA and FTC’s jurisdiction. In addition, the agencies have increased collaboration in regulating the advertising of food and dietary supplement products, making those jurisdictional lines foggier.

A perfect example of this interagency collaboration is reflected in the March 28 warning letters that the FDA and the FTC sent jointly to three CBD companies: Advanced Spine and Pain, LLC; Nutra Pure LLC; and PotNetwork Holdings, Inc..

The growing symbiotic relationship of these agencies has resulted in heightened regulatory scrutiny of consumer products, including that of CBD-infused products. Of course, with increased scrutiny comes increased financial risks in defending against those enforcement actions. In addition, the public nature of these warning letters naturally opens the door to potential consumer class action claims and securities violations – take the example of Curaleaf, here and here.

Since the beginning of the year, the FDA and the FTC have issued a total of four warning letters to CBD companies, which suggests that the agencies are acknowledging the growth of the CBD industry and that more enforcement actions are sure to come.

Consequently, and given the lack of distinction between labeling and advertising and the overlap of regulatory authority between the FDA and the FTC, CBD stakeholders, particularly manufacturers, distributors and marketers, should:

  1. not make health claims about the therapeutic value of their products;
  2. closely monitor both agencies’ enforcement actions (i.e., warning letters) and regulations; and
  3. develop compliance programs to (i) ensure that their marketing efforts align with federal guidelines and (ii) ensure that their compliance team is familiar with the FDA and the FTC’s regulations to successfully implement these guidelines.

For more information on FDA and FTC’s guidelines and how to mitigate your risk of enforcement action, please contact our team of regulatory attorneys.


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george scorsis

September 23, 2019
 

Cannabis businesses are taking careful note as professional marijuana courses and programs spring up at universities and other educational institutions across the country. Examples include – to name a few – Northern Michigan University, the College of Southern Nevada, the University of Denver and Florida Gulf Coast University, with colleges offering a huge variety of

Why marijuana firms are paying attention as higher education expands MJ course offerings across the US is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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additional info, George Scorsis

September 22, 2019
 

iowa hemp cbd

The Agriculture Improvement Act of 2018 (“2018 Farm Bill”) legalized hemp by removing the crop and its derivatives from the definition of marijuana under the Controlled Substances Act (“CSA”) and by providing a detailed framework for the cultivation of hemp. The 2018 Farm Bill gives the US Department of Agriculture (“USDA”) regulatory authority over hemp cultivation at the federal level. In turn, states have the option to maintain primary regulatory authority over the crop cultivated within their borders by submitting a plan to the USDA.

This federal and state interplay has resulted in many legislative and regulatory changes at the state level. Indeed, most states have introduced (and adopted) bills that would authorize the commercial production of hemp within their borders. A smaller but growing number of states also regulate the sale of products derived from hemp.

In light of these legislative changes, we are presenting a 50-state series analyzing how each jurisdiction treats hemp-derived cannabidiol (“Hemp CBD”). Each Sunday, we summarize a new state in alphabetical order. Today, we turn to Iowa.

On May 13, 2019, Iowa Governor Kim Reynolds signed into law Senate File 599, aka the Iowa Hemp Act (the “Act”). The Act requires Iowa’s Department of Agriculture and Land Stewardship (“DALS”)  to prepare and submit a plan for hemp cultivation to the USDA. DALS will assume primary authority over the “production of hemp” after the USDA approves Iowa’s state plan. Under the Act, “produce” means “to provide for the planting, raising, cultivating, managing, harvesting, and storing a crop.” DALS will issue hemp licenses and the Act outlines the application process and licensee qualifications.

A hemp licensee is exempt from criminal offenses for “producing, possessing, using, harvesting, handling, manufacturing, marketing, transporting, delivering, or distributing hemp” so long as the licensee is in compliance with the Act and DALS subsequent regulations. DALS will likely issue regulations elaborating on what is required to produce, process, manufacture, market, transport and deliver hemp and hemp products.

The Act defines hemp products as “an item derived from or made by processing hemp or parts of hemp, including but not limited to any item manufactured from hemp , including but not limited to cloth, cordage, fiber, food, fuel, paint, paper, particleboard, plastic, hemp seed, seed meal, or seed oil. Hemp product does not include any of the following: (1) An item or part of an item with a maximum delta-9 tetrahydrocannabinol concentration that exceeds three-tenths of one percent on a dry weight basis. (2) Hemp seed that is capable of germination.”

The Act allows for the retail sale of a hemp product if the hemp was “produced in this state or another state in compliance with the federal hemp law or other applicable federal law.” In addition, “[t]o the extent consistent with applicable federal law, a derivative of hemp, including hemp-derived cannabidiol, may be added to cosmetics, personal care products, and products intended for human or animal consumption. The addition of such a derivative shall not be considered an adulteration of the product, unless otherwise provided in applicable federal law.” Reading between the lines, it sounds like the Act mandates that Iowa follow the FDA’s guidance in determining what hemp products will be permitted for sale within the state’s borders.

Though the Act seems to allow for the sale of at least some Hemp-CBD products, the sale of Hemp-CBD remains risky in Iowa until the USDA approves of DALS’s state plan. Don’t believe me? Then take Iowa Attorney General Thomas Miller’s word for it. AG Miller issued a Statement on Hemp and CBD Products after Governor Reynolds signed the Act into law. Miller’s position on the matter is summed up nicely in this particular passage of that Statement:

The only provision of the Iowa Hemp Act that can be currently implemented is Section 3, which requires the [DALS] to prepare a state plan to be submitted to the USDA. Per Section 18 of the Act, the other provisions of the [Act]  cannot be implemented until after the USDA approves Iowa’s state plan. Therefore, at present time, no one can grow, manufacturer, or process hemp in Iowa, outside of the two mCBD manufacturers licensed by the Iowa Department of Public Health.

I need to briefly interrupt AG Miller to note that “mCBD manufacturers” refers to Iowa’s limited Medical Cannabidiol Act, which allows patients to legally possess “medical cannabidiol” if they have a qualifying condition and obtain a registration card based on a recommendation from a healthcare professional. See Iowa Code Ann. § 124E et seq. OK, now back to the statement:

In addition, the coordinating amendments, many of which remove hemp and hemp products from the Uniform Controlled Substances Act, do not become effective until after the USDA approves Iowa’s state plan. Until the coordinating amendments of the Iowa Hemp Act are effective, any product sold over-the-counter containing CBD or THC technically falls within the definition of marijuana and is considered a Schedule I controlled substance.

AG Miller goes on to warn consumers about mislabeled and Hemp-CBD, health claims related to Hemp-CBD, product liability for Hemp-CBD products, and investing in the volatile Hemp-CBD market. AG Miller also notes that local law enforcement will retain authority and discretion to take criminal enforcement actions against those selling or possessing Hemp-CBD products.

All things considered, Iowa appears poised to enter the Hemp-CBD game but at this time anyone distributing or possessing Hemp-CBD faces potential criminal liability. Iowa may not be as anti-cannabis as a state like Idaho, but it is also pretty clearly opposed to Hemp-CBD, at least right now. I expect that Iowa will strictly regulate Hemp-CBD products after the USDA approves of DALS state plan.

Stay tuned to the Canna Law Blog for developments on hemp and Hemp CBD in Iowa and other states across the country. For previous coverage in this series, check out the links below:


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George Scorsis

September 20, 2019
 
TerrAscend Corp (CNSX:TER) First Cannabis Company Licensed for Sales in Canada, US & EU
TerrAscend Corp (CNSX: TER) CEO, Michael Nashat ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis Aphria

September 20, 2019
 
Charting Man Dan, Pasha Brands (CNSX:CRFT) & TerrAscend (CNSX:TER)  - Midas Letter RAW 257
Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis

September 20, 2019
 
Charting Man Dan on Cryptocurrency Landscape (SPX, BTCUSD, CGC, ACB)
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George Scorsis Liberty Health Sciences

September 20, 2019
 

Walmart said Friday that it will stop selling electronic cigarettes at its namesake stores and Sam’s Clubs following a string of mysterious illnesses and deaths related to vaping. Walmart’s decision comes in the wake of the U.S. Food and Drug Administration (FDA) launching a criminal investigation into the vaping health crisis, bringing added scrutiny to the

Walmart pulls plug on all e-cigarette sales as vaping crisis roils marijuana industry is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

September 20, 2019
 

The number of city-approved cannabis stores in Calgary surpassed 200 this week, while the province has licensed 63 of those to open their doors to customers. The city’s store approvals exceed Ontario, British Columbia and Quebec combined, the three most-populous provinces in the country. Experts say Calgary should be seen as an example for other

200 cannabis stores approved by Calgary, more than BC, Ontario & Quebec combined is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Aphria

September 20, 2019
 

Three legislators introduced a bipartisan bill that would legalize medical marijuana in Wisconsin, creating a licensing system for growers, processors and sellers. Sens. Jon Erpenbach and Patrick Testin along with Rep. Chris Taylor introduced the bill Friday. Erpenbach and Taylor are Democrats. Testin is a Republican. The bill faces an uphill fight in the Republican-controlled

Wisconsin lawmakers introduce bill to legalize medical cannabis is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Liberty Health Sciences

September 20, 2019
 

Ecuador is one of the few South American countries that still has not legalized medical cannabis nor hemp, but that could change soon. This week, the country’s Congress approved a major reform of the Organic Integral Criminal Code. If given the green light by the executive branch – which has the authority to veto proposed

Ecuador moves closer to legalize medical cannabis and hemp is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

September 20, 2019
 

Los Angeles-based Future State Brands, a consumer brands cannabis holding company, received $25 million of funding led by Cresco Capital Partners. Future State Brands has a portfolio of hemp, THC and CBD brands in a variety of sectors including beverage, clothing and cosmetics. The proceeds will be used by the holding company for product development

Cresco Capital backs $25 million funding of CPG marijuana firm is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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george scorsis

September 20, 2019
 
Cannabis News September 20 2019 - Halo, Origin House, Delta 9, MediPharm, Inner Spirit, Choom
Halo Labs Inc Origin House Delta 9 Cannabis Inc MediPharm Labs Corp Inner Spirit Holdings Ltd Choom Holdings ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis Liberty Health Sciences

September 20, 2019
 

State regulators from across the country react to the vaping crisis, a federal marijuana banking bill sees movement, Utah ups its medical cannabis licensing opportunities – and more of the week’s top marijuana business news. States’ responses to vaping crisis State regulators nationwide have begun responding in earnest to the vaping illness epidemic, which now stands

Vape crisis continues, federal cannabis bill moves, Utah licenses & more is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

September 20, 2019
 
Generation Mining Chairman(CSE: GENM) on their Palladium Mine on the Marathon Property
Kerry Knoll (CSE: GENM) Chairman, Generation Mining Ltd ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

george scorsis

September 18, 2019
 
Senior Consultant at Global Public Affairs Urges Constituents to make Cannabis an Election Issue
Alanna Sokic is a senior consultant at global Public Affairs ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

more information, George Scorsis

September 18, 2019
 

California-based testing lab Cannalysis raised $22.6 million that will fund its expansion in the state as well as bankroll its entry into other marijuana markets in the U.S. The Santa Ana-based company raised the money from Canlab, a cannabis, hemp and CBD testing laboratory network. The unusually large raise for a lab also will help

California cannabis testing lab raises $22.6 million for expansion is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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more info, George Scorsis

September 17, 2019
 

A survey of Ohio’s registered medical marijuana cardholders found that the price of MMJ remains prohibitively expensive and it’s difficult to buy. According to the Ohio State University’s Drug Enforcement Policy Center and the nonprofit advocacy group Harm Reduction Ohio, patients said the biggest barriers to purchasing medical cannabis, in order, were: High costs of

Survey: Many Ohio medical cannabis patients ‘very dissatisfied’ with program is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

September 17, 2019
 

Citing noncompliance with Canada's federal cannabis law and regulations, embattled producer CannTrust says it has received a Notice of License Suspension from Health Canada.

CannTrust’s cannabis licenses suspended by Health Canada is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

September 17, 2019
 

Nevada-based GB Sciences, which has been under contract with Louisiana State University to cultivate medical marijuana, sold its 50% ownership stake in GB Sciences Louisiana. The stake will be purchased by Wellcana Plus, a Lafayette, Louisiana-based company which holds the other 50% of the operation, by the end of October, according to a release. The

GB Sciences sells Louisiana medical marijuana company for $32 million is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

September 17, 2019
 

cannabis wine california litigation right to farm

California, like other states, has a Right to Farm Act that is intended to protect agricultural activity, and many counties have their own local right to farm ordinances as well. California’s Right to Farm Act provides:

“No agricultural activity, operation, or facility, or appurtenances thereof, conducted or maintained for commercial purposes, and in a manner consistent with proper and accepted customs and standards, as established and followed by similar agricultural operations in the same locality, shall be or become a nuisance, private or public, due to any changed condition in or about the locality, after it has been in operation for more than three years if it was not a nuisance at the time it began.”

The intent of these types of laws is to protect farmers who use accepted and standard farming practices from nuisance lawsuits in certain circumstances. In California, at the state level, cannabis cultivation is not considered “agricultural” such that it would be eligible for protection under the Right to Farm Act. But in some counties, local ordinances do define cannabis cultivation as agricultural activity, giving cannabis cultivators protection under local right to farm ordinances.

Tensions arise, however, where the standards for things like pesticides are very different for cannabis versus other agricultural products like wine grapes. Many pesticides that are legal for use on vineyards are not legal for use on cannabis. This is when pesticide drift, which refers to the “airborne movement of pesticides from an area of application to any unintended site,” becomes a major issue.

There is case law addressing the issue of pesticide drift in California, and one such relevant case involving a farmer of organic dill whose crop became contaminated through pesticide drift from a nearby brussels sprouts farm, found that the organic dill farmer did have legal recourse against the Brussels sprouts farmer, even though the pesticides were legally applied.

The defendant Brussels sprouts farmer argued that because it had not run afoul of state law, the plaintiff did not have the right to sue. But the court held that the defendant could in fact be held liable for tainting the plaintiff’s organic crops. The defendant of course argued that this would “impose a serious burden and concern to the industry.”

But the issue becomes even more sensitive when 1) cannabis cultivators are held to extremely high standards in terms of pesticide restrictions and 2) they are operating near vineyards that have been in the same location, using the same accepted best practices for pesticide application for many years. Pesticide drift from these vineyards has the potential to taint valuable cannabis crops rendering them unviable.

And this is exactly what is happening in some areas like Santa Barbara County. In June, the operators of the Fiddlestix Vineyard in the Santa Rita Hills learned that the fungicide they had been spraying on their grapes for decades could be drifting onto a nearby cannabis farm. The vineyard has now started using a “more expensive and far less effective spray on the grapevines that are nearest to the cannabis farm” while the county investigates. Some vineyard owners have complained that Santa Barbara County in particular has been “too permissive” toward cannabis cultivation operators.

Ultimately, in counties that are licensing cannabis cultivators, growers of all sorts of agricultural products will need to learn to coexist. But the issue of pesticide drift and the implications of right to farm laws seem to be more issues in a long list that regulators didn’t adequately anticipate at the outset of regulation. Our hope is that these disputes will resolve amicably, and we will be following them closely.


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George Scorsis

September 16, 2019
 

In the wake of a nationwide epidemic of illnesses associated with vaping, California Gov. Gavin Newsom on Monday signed an executive order launching a new crackdown on the burgeoning industry, both for tobacco-related companies and those in the cannabis industry. The move appears to be the first state regulatory backlash against vaping that includes the cannabis

California governor issues executive order on vaping, says it’s an e-cigarette and marijuana problem is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Aphria

September 16, 2019
 

New York Gov. Andrew Cuomo is pushing to enact a statewide ban on the sale of flavored e-cigarettes amid growing health concerns connected to nicotine and marijuana vaping. New York would be the second state after Michigan to take such action. Cuomo announced Sunday that the state health commissioner would be making a recommendation this

New York move to ban flavored e-cigs spurs cannabis vape concerns is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis

September 16, 2019
 
Cannabis New September 6 2019 - Halo Labs, RavenQuest, Valens GroWorks Corp, lower One
Halo Labs Inc RavenQuest BioMed Inc Valens GroWorks Corp Flower One Holdings Inc Nutritional High International Inc MedMen Enterprises Inc Leviathan Cannabis Group Inc Cresco Labs Inc *********************** Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis Aphria

September 16, 2019
 

idaho cannabis litigation

Regular readers know that we are in the midst of presenting a 50-state series analyzing how each state treats hemp-derived cannabidiol (“Hemp CBD”). Recently we covered Idaho, which we neatly summarized as “probably the worst state in the country to get caught with hemp.” The article explains why this is so in detail.  Among the reasons is that last winter the Idaho State Police seized a shipment of 13,000 pounds of hemp which was being transported across Idaho from Oregon to Colorado. (See here.) The case has received considerable attention from the press and the hemp industry. Indeed, the American Trade Association of Cannabis and Hemp filed amicus briefs in both the federal district court and the Ninth Circuit in support of the owner of the hemp.

The Ninth Circuit sends hemp owner to Idaho state court on the basis of the Younger abstention doctrine.

The seizure led to a federal lawsuit by the owner of the seized load. Big Sky Scientific, LLC v. Jan M. Bennetts, No. 1:19-cv-00040-REB (D. Idaho).  Big Sky sought a declaration that (i) the cargo is industrial hemp under provisions of the 2018 Farm Bill, (ii) hemp is not a controlled substance under federal law, and (iii) Idaho cannot interfere with the interstate transportation of hemp.

Big Sky also quickly moved for a preliminary injunction asking the federal court to compel the Idaho State Police (“ISP”) to return the hemp. Big Sky contended the cargo was deteriorating and losing its value as it sat in ISP’s possession. Meanwhile, ISP filed a state-court complaint in rem for forfeiture of the hemp under Idaho state law.

In considering the motion, the federal district court directed the parties to address “whether the Court has jurisdictional authority to compel the relinquishment of property seized in connection with a state criminal case.” ISP drew upon the Younger abstention doctrine to argue the federal court lacked jurisdiction and ought to abstain from exercising jurisdiction over Big Sky’s request for equitable relief.

The federal court denied the motion for a preliminary injunction and ruled that it need not decide the abstention question. Big Sky appealed the denial to the Ninth Circuit, wherein ISP argued the district court abused its discretion by not abstaining pursuant to Younger.

In a short, unpublished opinion issued on September 4, 2019, the Ninth Circuit agreed with ISP and reversed the district court’s decision not to apply Younger abstention. The decision was based, in part, on ISP’s representation at oral argument that (i) Idaho will immediately move to lift the stay in the in rem forfeiture action, and (ii) the assumption that the Idaho state court would proceed expeditiously with the in rem action, including Big Sky’s challenge to Idaho’s interpretation of the 2018 Farm Bill.

In plain terms: the Ninth Circuit ruled that the federal district court should refrain from exercising jurisdiction over Big Sky’s case because doing so may interfere with the ongoing proceedings in Idaho state court. (Feel free to email me for a copy of the opinion.)

What is Younger abstention?

The Younger abstention doctrine is named after the Supreme Court’s 1971 decision in Younger v. Harris which held that federal courts may not enjoin state court criminal proceedings. At heart the Younger abstention doctrine arises from our system of federalism and its separation of powers. States are independent sovereigns (as are Indian tribes in many respects) and most abstention doctrines proceed from this understanding. Since 1971, federal courts have applied the principles of Younger to proceedings far beyond the criminal context. Generally speaking, the doctrine operates to prevent federal courts from enjoining pending state court proceedings.

The doctrine is controversial in several respects for reasons we won’t get into here. (See Federal Jurisdiction by Erwin Chemerinsky for a thorough analysis). Other abstention doctrines include Colorado River abstention – which is concerned with avoiding duplicative litigation; the Rooker-Feldman doctrine – which concerns federal court review of state court decisions; Pullman abstention – which concerns refraining from deciding questions based on unclear state law; and Burford abstention – which concerns deferring review of complex state administrative procedures.

For now, I’ll briefly explain the elements of Younger abstention and turn to the implications of the Ninth Circuit’s decision. As the Court explained, “Younger abstention is appropriate when (1) there is an ongoing state judicial proceeding; (2) the proceeding implicates important state interests; (3) there is an adequate opportunity in the state proceedings to raise constitutional challenges; and (4) the requested relief seeks to enjoin or has the practical effect of enjoining the ongoing state judicial proceeding.”

In Big Sky, the Ninth Circuit found these elements met because of the pending in rem forfeiture proceeding in Idaho state court in which Big Sky may raise its federal claims. Although the state courts had stayed that action, ISP’s promise to move to lift that stay, and the “assumption” the state court would proceed to resolve that action expeditiously and permit Big Sky to raise its constitutional challenges led the Ninth Circuit to conclude Younger abstention was appropriate.

What are the implications of the Ninth Circuit’s ruling in Big Sky for shipping Hemp-CBD across state lines?

The Ninth Circuit’s decision has several immediate consequences relevant to anyone operating in the Hemp-CBD marketplace:

1)            Big Sky (and others) who have Hemp-CBD shipments seized in Idaho may ending up winding their way through state court and the state court appellate process (this is less than ideal);

2)            Other states that take a dim view of hemp (we are looking at you, South Dakota) may see this as a template for seizing Hemp-CBD shipments and keeping related proceedings out of federal court (though South Dakota is in the Eighth Circuit so not bound to follow the Ninth);

3)            Trucking and shipping companies may decline to offer Hemp-CBD shipping services because of the potential of seizure;

4)            The risk and costs of shipping Hemp-CBD ought to be addressed in your contracts – as we have said before – and you should consider spelling shipping routes to lessen the risk of seizure;

5)            Ensure that your Hemp-CBD shipments and shippers have the proper manifests and other chain-of-custody documents; and

6)            Finally, if one of your Hemp-CBD shipments is seized by law enforcement, act quickly with your litigation attorneys to commence a federal court action and be prepared to make sophisticated jurisdictional arguments.

For now, it may be best to stay away from Idaho.


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George Scorsis Aphria

September 13, 2019
 

A subsidiary of multinational pharmaceutical giant Teva Pharmaceuticals signed a deal with Israeli medical marijuana company Canndoc to distribute its products to pharma customers that include pharmacies and hospitals. While the deal is not exclusively for products in Israel, it will start there and move to other countries once it becomes logistically legal to do

Teva Israeli subsidiary signs cannabis distribution deal is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

September 13, 2019
 
Todd Harrison(CIO, CB1 Capital Management) on the price on Cannabis
************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis

September 13, 2019
 

The Denver Police Department warned Colorado marijuana businesses that it’s seeing an increase in burglaries at dispensaries and is encouraging operators to report any suspicious activities. In an online bulletin, the department wrote, “Dear Marijuana Industry, (the DPD) is seeing an uptick in burglaries at marijuana facilities.” The letter outlined several suggested steps, both proactive

Denver police warn cannabis businesses of ‘uptick in burglaries’ is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

September 13, 2019
 

The Denver Police Department warned Colorado cannabis businesses that it’s seeing an increase in burglaries at dispensaries and is encouraging operators to report any suspicious activities. In an online bulletin, the department wrote, “Dear Marijuana Industry, (the DPD) is seeing an uptick in burglaries at marijuana facilities.” The letter outlined several suggested steps, both proactive

Denver police warn marijuana businesses of ‘uptick in burglaries’ is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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more information, George Scorsis

September 13, 2019
 

Cannabis stores in Oregon began taking vaping products off their shelves and offering returns on previously purchased vape pens. The move comes amid a nationwide scare over severe lung illnesses and deaths tied to electronic cigarettes, the latest sign that the health-care scare is having an impact on the vaporizer industry. Vaping sales have pulled

Oregon marijuana retailers pulling vaping products in wake of health scare is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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more info, George Scorsis

September 13, 2019
 

Canada’s largest medical cannabis company by revenue and production is planning to make a “significant” splash in the near future on another point of entry in the U.S. market, one of the company’s executives said in an interview. Aurora, based in Edmonton, Alberta, already has arms-length involvement in the United States through Australis Capital, a

Aurora plots ‘significant’ US marijuana entry in ‘very short period’ is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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more info, George Scorsis

September 13, 2019
 

Sales fall for recreational marijuana vaping products as a health scare hits the mainstream media, a California marijuana banking bill dies but could return in 2020, a Massachusetts mayor is deposed for allegedly ripping off MJ firms – and more of the week’s top cannabis business news. Vaping crisis The pulmonary illness epidemic related to

Cannabis vape crisis, CA banking bill fails, public corruption in MA & more is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Aphria

September 12, 2019
 
CB1 Capitol, Ravenquest Biomed (CSE:RQB) - Midas Letter RAW 253
Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis

September 12, 2019
 
TruTrace Technologies (CNSX:TTT) CEO Robert Galarza
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George Scorsis

September 12, 2019
 

Cannabis testing labs around the country are adding more specific tests targeting an additive that’s been linked to the string of recent illnesses and deaths health authorities say are related to marijuana and tobacco vaping devices. Although no definitive cause of the vaping-related issues has been identified, early reports have targeted the additive vitamin E

Marijuana labs adding tests targeting vitamin E acetate in response to vaping health scare is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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george scorsis

September 12, 2019
 
Cannabis News September 12 2019 - Aurora, Valens, 48North, Body and Mind Inc,Bhang Inc Choom , TGOD
For Cannabis News Updates - https://midasletter.com/cannabis-daily/ Aurora Cannabis Inc Valens GroWorks Corp 48North Cannabis Corp Body and Mind Inc Bhang Inc Choom Holdings The Green Organic Dutchman Holdings Ltd Namaste Technologies Inc Next Green Wave Holdings Inc ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis

September 11, 2019
 
BONE Structure  -  Founder & CEO, Mark A Bovet
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George Scorsis website

September 11, 2019
 
Coperbank Resources (CSE:CBK) CEO, Gianni Kovaccevic
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George Scorsis

September 10, 2019
 
Charting Man Dan technical analysis - Gold, Interest Rates - WEED, APHA, MMEN, OH
To see more analysis from Dan visit https://www.chartguys.com/ ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis website

September 09, 2019
 

A cannabis industry trade group in Washington state on Monday proposed legislation to fund a social equity program that would help remove barriers to capital for minority business owners and would eliminate a residency requirement for potential investors in the market. The Washington CannaBusiness Association (WACA) put forward the Cannabis Capital Equity Act, which would be supported

Washington state marijuana trade group proposes capital equity fund is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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george scorsis

September 09, 2019
 
Faircourt Fund Manager, The Future of Cannabis with Alessandro Bruno - Midas Letter 249
Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis website

September 08, 2019
 

illinois hemp cannabis

The Agriculture Improvement Act of 2018 (“2018 Farm Bill”) legalized hemp by removing the crop and its derivatives from the definition of marijuana under the Controlled Substances Act (“CSA”) and by providing a detailed framework for the cultivation of hemp. The 2018 Farm Bill gives the US Department of Agriculture (“USDA”) regulatory authority over hemp cultivation at the federal level. In turn, states have the option to maintain primary regulatory authority over the crop cultivated within their borders by submitting a plan to the USDA. This federal and state interplay has resulted in many legislative and regulatory changes at the state level. Indeed, most states have introduced (and adopted) bills that would authorize the commercial production of hemp within their borders. A smaller but growing number of states also regulate the sale of products derived from hemp.

In light of these legislative changes, we are presenting a 50-state series analyzing how each jurisdiction treats hemp-derived cannabidiol (“Hemp CBD”). Each Sunday we will summarize a new state in alphabetical order. So far, we’ve covered Alabama, Alaska,  Arizona,  ArkansasCaliforniaColoradoConnecticutDelawareFlorida, GeorgiaHawaii and Idaho. Today we turn to Illinois.

Overview. Since 2016, Illinois has limited the cultivation of industrial hemp by the Illinois Department of Agriculture (“IDA”) and institutions of higher learning for research purposes only. However, on August 26, 2018, Governor Bruce Rauner signed SB 2298, which expanded the state’s industrial hemp regulations to cover commercial activity. SB 2298 updated Illinois’ industrial hemp laws to allow individuals and entities to cultivate hemp by registering with the IDA and removed industrial hemp from the definition of cannabis.

Earlier this year, the IDA adopted temporary rules under SB 2298. Under the rules, “Industrial Hemp” means

the plant Cannabis sativa L. and any part of that plant, whether growing or not, with a delta- tetrahydorcannabinol (THC) concentration of not more than 0.3% on a dry weight basis that has been cultivated under a license issued under the Act or is otherwise lawfully present in this State and includes any intermediate or finished product made or derived from industrial hemp.

Production of Hemp and Hemp-CBD Products. Pursuant to Illinois law, only licensed growers and processors may sell or transfer living hemp plants or viable hemp seeds to (1) other IDA licensees, or (2) others outside of Illinois so long as the sale is authorized by a state agency in the destination state.

The IDA also permits the sale and transfer of “stripped stalks, fiber, dried roots, nonviable seeds, seed oils, floral and plant extracts (excluding THC in excess of 0.3%) and other marketable hemp products to members of the general public, both within and outside the State of Illinois.” Note that neither the bill nor the IDA rules define “marketable hemp products.”

However, Section 25 of SB 2298 provides the following provision:

Nothing in this Act shall be construed to authorize any person to violate federal rules, regulations, or laws. If any part of this Act conflicts with a provision of the federal laws regarding industrial hemp, the federal provisions shall control to the extent of the conflict.

Accordingly, because there is no permissive language that allows for Hemp-CBD products and because of Section 25, the sale of these products is illegal at worst, and unregulated at best.

In addition, only registered processors can process Hemp-CBD grown under the program. However, nothing in SB 2298 nor the IDA rules expressly prohibit the introduction of hemp products lawfully processed under another state plan.

Possession. Pursuant to SB 2298, “[n]othing in this Act shall alter the legality of hemp or hemp products that are presently legal to possess or own.” Consequently, the possession of Hemp-CBD products seems limited to those approved by the FDA or that meet the standards set by IDA rules (i.e., containing no more than 0.3% THC and that satisfy other requirements).

Transportation. Only a licensed grower or registered processors may transport hemp so long as the hemp contains no more than 0.3% THC. Note that the IDA rules state that the transportation of Hemp-CBD products is not restricted after sold to a member of the public.

Marketing or Advertising Restrictions. As of the date of this post, the state has not enacted regulations governing the marketing or advertising of Hemp-CBD products.

Bottom Line. Although the production and sale of Hemp-CBD products isn’t clearly authorized or restricted, Illinois is authorizing the cultivation of the crop and has not taken any enforcement actions against these products. For these reasons, Illinois should be considered a hemp friendly state. That being said, there is a possibility that things may change upon the adoption of final rules by IDA.


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George Scorsis

September 07, 2019
 

CBD is a fascinating phytocannabinoid with many qualities. Here we reveal 10 super unique cannabidiol oil and CBD facts you may be surprised to learn about.

It seems that CBD is everywhere you look these days. Health food stores, farmers markets, yoga studios, and more have begun to offer CBD products to their customers. 

Media and news outlets have also caught the CBD wave and have helped spread the word about the all natural cannabinoid and its benefits.

Still, there is probably so much that you don’t know about CBD, even with all the CBD facts that are out there. It is important to get your CBD information from a source you trust. 

Cannabis and hemp have had a long, complicated history, but only over the last decade or so has CBD oil from hemp surged in popularity as a dietary supplement to promote wellness. CBD, or cannabidiol, is an all natural cannabinoid found in cannabis that supports one of the body’s largest self regulatory systems and promotes balance so that you can feel and perform your best each day.

Looking to learn the truth about CBD? Here, we reveal the top 10 most unique CBD facts.

1. CBD Can Come From Both Hemp and Marijuana

With so much misinformation on the internet about CBD, a common misconception is that CBD only comes from one type of cannabis plant. In reality, CBD is found throughout the stalks, flowers, stems, leaves, and seeds of both hemp and marijuana.

One of the most unknown CBD facts is that hemp and marijuana can both be sources of CBD. However, marijuana is naturally lower in CBD than THC, or tetrahydrocannabinol, the intoxicating compound known for its euphoric properties. In hemp, CBD dominates the plant’s makeup, and THC is only present in trace amounts. 

Out of all of our CBD facts, why is this one so important? Hemp’s naturally higher levels of CBD make it an ideal source for CBD extract products like CBD oil. Hemp cultivars also grow much faster than marijuana, for a more environmentally sustainable and conscious CBD product.

With that said, there are thousands of unique varieties of hemp, and not all of these hemp strains contain the same percentages of CBD. The cultivars of hemp used to create CBD oil, in general, contain significantly higher concentrations of CBD than others used mostly for fiber.

Cannabidiol oil facts

2. CBD is One of Over 100 Cannabis Derived Cannabinoids

CBD rightfully garners much of the attention in the cannabis industry due to the many natural CBD benefits. But, did you know that it is just one of more than 100 cannabinoids scientists have so far discovered in the cannabis plant?

Along with THC, CBD is the most prominent of the many cannabinoids found in cannabis. Outside of these two well researched compounds, however, are dozens more cannabinoids present at low levels. Like CBD, these cannabinoids interact with the body’s native system and elicit various natural effects. 

Some of the more well known cannabis derived cannabinoids, or phytocannabinoids, that are found in cannabis plants include cannabichromene (CBC), cannabinol (CBN), cannabigerol (CBG), tetrahydrocannabivarin (THCV), cannabidivarin (CBDV), delta-8-tetrahydrocannabinol (Δ8-THC), cannabidiolic acid (CBDA), and tetrahydrocannabinolic acid (THCA).

While researchers have identified many cannabinoids, they have primarily focused their efforts on studying and understanding how CBD and THC influence the body’s systems. Many studies have explored CBD oil effects and CBD oil benefits, as scientists look to learn more about potential CBD hemp oil uses.

3. Cannabis Growers Can Breed High CBD Plants

Not all cannabis contains the same amount of cannabidiol. There are now thousands of unique cannabis strains available to consumers. On a chemical level, these strains differ in their make up of their cannabinoid content, providing various CBD concentration options.

Thanks to crossbreeding, cannabis growers are able to cultivate cannabis plants that contain high levels of CBD.

These high CBD strains, also referred to as CBD rich strains, have become a popular choice for anyone interested in the natural effects of cannabinoids while maintaining a clear head.

Want more CBD facts? Here’s an interesting one – when Medical Marijuana, Inc. was searching for the perfect cannabis seed to introduce CBD oil products to the market, our experts first tested a total of 3,000 possible varieties to find the perfect hemp cultivar that contained the optimum level of cannabidiol.

4. CBD Actually Is “Psychoactive”

Although there are many “CBD facts” floating around, some of them can be extremely misleading. CBD is regularly classified as a “non-psychoactive” compound nearly everywhere it is mentioned.

What people mean when they describe CBD in such a way is that it doesn’t elicit any temporary euphoric effects. Here are the hard facts regarding this CBD truth: CBD is non-intoxicating and has shown to have no serious side effects, which is why many feel comfortable to buy CBD oil for all of their family members, including children and seniors.

While it is correct to say that CBD won’t cause a “high,” it is incorrect to describe it as non-psychoactive. The term “non-psychoactive” means that a substance does not affect the mind, which isn’t an accurate description of CBD.

CBD is often mischaracterized in sources as ‘non-psychoactive’ or ‘non-psychotropic’ when it is compared to THC.

The truth about CBD is that it has demonstrated an influence on one of the body’s major native regulatory networks, the endocannabinoid system. CBD’s interaction with the endocannabinoid system does alter the release of neurotransmitters in the brain and elsewhere. In doing so, CBD encourages balance in the body and its functions.

Therefore, rather than CBD being labeled as non-psychoactive, a more accurate description would be that CBD is ‘non-intoxicating,’ because it does not elicit any euphoric effects.

This is one of the most important CBD facts you learn today: While CBD is non-intoxicating and won’t cause impairment, it is psychoactive.

cbd oil facts

5. CBD is CBD, No Matter the Source

No matter where it comes from, CBD is CBD. Some cannabinoid users mistakenly think that CBD from marijuana is somehow more potent than CBD derived from hemp. On a molecular level, CBD from hemp is the same as CBD from marijuana.

Researcher Franjo Grotenhermen of the International Association for Cannabinoid Medicines has been quoted saying, “CBD is CBD. The human body does not care where the molecule comes from.”

An easy way to understand this CBD fact is to consider vitamin C. No matter whether your body absorbs it through an orange or a lemon, it will treat and use the water soluble vitamin the same way.

While it is true that the percentage of CBD in hemp plants by dry weight is generally lower than the percentage of CBD in some specially bred marijuana plants, once CBD oil is extracted from the plant, this difference becomes negligible. Whether it’s CBD cannabis oil from marijuana or CBD hemp oil, CBD is CBD!

6. CBD May Help You Manage a Cannabinoid Deficiency

A relatively new theory speculates that supplementing the body with plant-based cannabinoids like CBD could possibly be beneficial for addressing a nutritional deficiency.

This theory, called the clinical endocannabinoid deficiency syndrome (CECD), attempts to explain why in some cases the endocannabinoid system is unable to properly keep the body balanced. It proposes that a deficiency in cannabinoids can lead to a dysfunction in the endocannabinoid system. The theory was initially introduced in 2001 by EB Russo.

Americans may be at a greater risk for being depleted of cannabinoids since cannabis, both marijuana and hemp, were prohibited in the 1930s. Eliminating hemp from the diet may have contributed to cannabinoid deficiency issues.

Adding CBD oil to your diet could, the theory suggests, augment the body’s own cannabinoids and help the endocannabinoid system effectively balance the body.

7. CBD’s Benefits Can Be Maximized with Hemp’s Other Phytochemicals

Of all the CBD facts, this one may surprise you the most. Taking CBD with all the other natural compounds found in cannabis may enhance the compound’s effects.

The entourage effect, first introduced in 1998 by renowned researchers Raphael Mechoulam and S. Ben-Shabat, suggests that the sum total of all the chemical compounds in cannabis — including CBD and the other hundreds of plant compounds — act synergistically to provide a more powerful effect.

In other words, these scientists and others believe that consuming full spectrum CBD oil offers greater natural wellness properties than taking isolated CBD compounds alone. Learn more about the effects of CBD isolate here.

Hemp contains more than just CBD. It is made up of 400-plus active compounds, including cannabinoids, flavonoids, and terpenes, as well as essential vitamins and minerals, fatty acids, fiber, protein, and chlorophyll.

While CBD on its own has demonstrated undeniable natural benefits, the entourage effect could mean that the compound’s benefits can be maximized when consumed with the other natural compounds found in cannabis. If you’re still worried about taking full spectrum CBD there are many CBD isolate options available.

8. CBD is Beneficial, Even if You’re Healthy

Many people first incorporate CBD into their lives once facing health problems, but CBD offers botanical properties that are beneficial for anyone interested in promoting wellness.

CBD’s stimulation and support of the endocannabinoid system may help it continue to run efficiently.

Hemp derived CBD oil (or CBD hemp oil) also supports the maintenance of a complete and healthy diet. When discussing CBD oil facts, it’s impossible to not mention that in addition to CBD and other trace cannabinoids, CBD oil is also a natural source of many vitamins and minerals, including B complex vitamins, vitamin C, vitamin E, calcium, and magnesium. CBD oil also contains protein, fatty acids, and other dietary nutrients critical for keeping your body running at its best.

For healthy people, supplementing the endocannabinoid system, the largest self regulatory system, with plant based cannabinoids like CBD is a potential way to maintain optimal health. The balancing effects of CBD combined with the nutritional content of hemp oil will help ensure your body is given what it needs for peak performance each day.

9. CBD Can Also Be Beneficial for Your Pet

What does CBD do for our pets? Like us, many of our loved pets can benefit from the natural balancing properties of CBD. All mammals, including dogs, cats, horses, and more, have an endocannabinoid system, the bodily system with which cannabinoids interact.

A growing number of pet owners are discovering how adding CBD oil to their pets’ diets can be a natural alternative to promote well being in their pets.

CBD’s support of the endocannabinoid system has shown to promote pets’ cardiovascular function, support healthy joints, and promote neurological health and emotional behavior. Also, for many pet owners, hemp CBD oil’s nutritional profile complements the dietary requirements of their animal.

Today, you can buy CBD oil products specifically designed for pets, including CBD oils, CBD liquids, and CBD treats. Interested in trying CBD for your pets but still not sure where to start? Check out our CBD for Pets Buyer’s Guide.

10. CBD is Federally Legal, Provided it Comes From Hemp

CBD, provided it is derived from hemp, is federally legal in the United States. While a Ninth Circuit Court of Appeals ruling had allowed hemp CBD and hemp CBD oil manufacturers to operate for years without interference, the passing of the 2018 Farm Bill in late December eliminated any confusion of hemp CBD’s legal status.

The hemp provision in the new Farm Bill allows hemp to be legally “cultivated for any use,” including the production and extraction of CBD. It also means that you can legally use and buy CBD oil, without a doctor’s recommendation or prescription.

For those curious about cannabinoids and CBD oil facts, this is a big deal. While states can regulate hemp and hemp CBD as they choose, the new federal law will make many consumers familiar with CBD oil benefits more willing to try the variety of CBD oil products that are available to buy. Nearly everyone in the country can legally shop for CBD oil products and have their order delivered right to their doorstep.

Buy CBD oil

Learn Even More About CBD

There is always more to learn about cannabidiol (CBD) and how it can help the endocannabinoid system regulate the body’s homeostasis. Read our overview of CBD for more cannabidiol facts

To start incorporating the natural wellness benefits of CBD oil products into your routine, visit the Medical Marijuana, Inc. online shop today. If you’re interested in taking CBD but aren’t sure where to get started, our CBD Oil Buyer’s Guide can help. Want to know what Medical Marijuana, Inc. customers have to say about our products? See our CBD oil reviews

References:

  1. Russo, E.B. (2004, Feb-Apr). Clinical endocannabinoid deficiency (CECD): can this concept explain therapeutic benefits of cannabis in migraine, fibromyalgia, irritable bowel syndrome and other treatment-resistant conditions? Neuro Endocrinology Letters, 25(1-2), 31-9.
  2. Russo, E.B. (2017, March). Cannabidiol claims and misconceptions. Trends in Pharmacological Sciences, 38(3), 198-201.

[Read More ...]

George Scorsis Aphria

September 06, 2019
 
Copper Bank (CBK) Political Risks & Cannabis Market Analysis  - Midas Letter RAW 248
Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis website

September 06, 2019
 

A Mississippi group advocating for medical marijuana legalization in the Deep Southern state turned in more than 105,000 signatures to get a free market-oriented initiative on the ballot next year. Mississippians for Compassionate Care submitted the signatures to the secretary of state’s office, which now must review and certify the signatures. The initiative has these main

Business-friendly medical cannabis initiative moves forward in Mississippi is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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george scorsis

September 06, 2019
 

The mayor of Fall River, Massachusetts, was arrested on charges he conspired to extort $600,000 from at least four business owners in exchange for official letters needed to obtain a license to set up a marijuana business, according to federal authorities

Massachusetts mayor charged with extorting cannabis businesses is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Liberty Health Sciences

September 06, 2019
 

Concerns over marijuana vaping-related illnesses continue to mount, as U.S. health officials on Friday again urged people to stop vaping until they figure out why some are coming down with serious breathing illnesses

Deaths, illnesses related to vaping cannabis on the rise, health authorities say is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Liberty Health Sciences

September 06, 2019
 

Scandal-plagued CannTrust, an Ontario-based cannabis grower, laid off 180 employees, or 20% of its workforce. “We have made the extremely difficult decision to restructure our workforce to reflect the current requirements of our business,” Robert Marcovitch, CannTrust’s interim CEO said in a news release. The layoffs are expected to save the company about 9 million Canadian

Embattled Canadian marijuana firm CannTrust lays off 180 is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

additional info, George Scorsis

September 06, 2019
 
Cannabis News September 06 2019 - CannTrust, Trulieve, Canopy Rivers, Eve & Co, High Tide,Phivida
CannTrust Holdings Inc Trulieve Cannabis Corp Canopy Rivers Inc Eve & Co Incorporated High Tide Inc Phivida Holdings Inc Planet 13 Holdings Inc ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

addiitional information, George Scorsis

September 06, 2019
 

Police in Sacramento, California, are looking into roughly 10 break-ins at local marijuana shops in the past month, with the possibility the incidents might be connected. Such robberies apparently have escalated, according to West Sacramento TV station KOVR. Robberies have always been a problem for marijuana retailers, many of which operate on a cash-only basis

Police investigating rash of cannabis retail robberies in California capital is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

September 06, 2019
 

international law cannabis uruguay single convention

Yesterday, I came across an article in this week’s Economist titled Going to Pot (*sigh*). The premise of this article is that “a global revolution in attitudes towards cannabis is under way” and it explains how countries in many parts of the world have begun to undertake cannabis reforms in varying degrees. This includes everything from wholesale federal legalization (i.e. Canada, Uruguay) to emerging medical cannabis programs (e.g. South Korea, Germany, Thailand, Zimbabwe). The article covers what these changes mean in a commercial sense, but also their implications under international law.

The global reconsideration of cannabis is a recent phenomenon, but only relatively. In August of last year, I explained that the United Nations (UN) itself had finally begun to reconsider the status of cannabis under international law, including under the Single Convention on Narcotic Drugs of 1961 and related treaties (“Single Convention”). I also analyzed, this February, the significant and long overdue World Health Organization recommendations related to the treatment of cannabis under international law. What the UN does with those recommendations is still an open question, but in a certain sense it doesn’t matter: countries are moving ahead.

In keeping with these changes, our law firm has begun doing more and more international advising with respect to cannabis in the last few years. Broadly, we divide this work into three classes:

  1. Importers and exporters of hemp (We have clients doing this. There are no real treaty issues; it’s more about domestic law and customs);
  2. Importers and exporters of medical cannabis (We have clients looking at this. Treaty issues are generally navigable, given the Single Convention allowances on “medical and scientific” cannabis);
  3. Fully legalized jurisdictions, à la Canada (We represent one sovereign looking at this. It is “illegal” and really interesting).

So what happens under international law when a country legalizes cannabis outright? As a practical matter, not much. Public international law is decentralized, unenforceable, unpoliced and frequently broken. States are “immortal” and cannot be sued. This means that neither Canada nor Uruguay will be hauled before a court or tribunal for admitted violations of the Single Convention. The same will be true of Mexico when it legalizes cannabis later this year. Same for Luxembourg. And Switzerland. Etc. At most, these states will be subject to diplomatic moralizing and criticism, mostly out of sight.

That isn’t to say that states do not have options with respect to the Single Convention and cannabis. Below are three that are commonly discussed.

Withdraw from the Treaties

Under international law, a state may withdraw from a treaty in conformance with the provisions of the treaty itself (if the agreement permits withdrawal) or with the consent of all parties. The Single Convention permits withdrawal, at Article 46. And there is precedent for withdrawal: Bolivia withdrew from the Single Convention in 2012 when it wanted to legalize the chewing of coca leaves. It then rejoined with a “reservation” as to coca leaves in 2013.

In the context of cannabis, Canada seems to have discussed the withdrawal option in detail. Ultimately, it appears that Canada will not withdraw, on the reasoning that its contravention of the treaty is principled (cannabis prohibition is harmful), and that withdrawal would be an excessive response given the all the other drugs included in the Single Convention. That may seem unconvincing, but options here are few.

Inter se Agreement

Canada and other scofflaws could also form an “inter se” (between themselves) agreement, allowing those states to modify existing drug treaty obligations with respect to cannabis.

The inter se option is wonky territory, even for international law. Based in Article 41 of the 1969 Vienna Convention on the Law of Treaties, it was designed to allow changes without consensus while supporting stable treaty regimes. This option would require that the inter se agreement include a clear commitment to the Single Convention’s original aim; that is, to promote the health and welfare of humankind (as to cannabis, here) and to maintain the original treaty obligations vis-à-vis countries left behind. That doesn’t seem terribly challenging.

So, will an inter se agreement happen anytime soon in the context of cannabis? Probably not, for the simple reason that not enough countries have legalized cannabis outright to create a major constituency. Check back in ten years.

Violate International Law

This is what countries have begun to do, and will continue to do, to the point where the Single Convention is broadly undermined. The scenario is roughly analogous to what U.S. states have done to the domestic Controlled Substances Act as to “marijuana.” It will be an even slower process, however, given the prohibitionist posture of global heavies like China and Russia on cannabis, and the glacial development of international law generally. It will take decades and decades, in fact.

The Economist is correct that a global revolution in attitudes towards cannabis is under way. The revolution of laws, however, will be slower. Until then, and as the poet once said, “to live outside the law you must be honest.” Canada, Uruguay and every other country making a move on cannabis knows exactly how that feels.


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additional info, George Scorsis

September 06, 2019
 

Los Angeles opens the next marijuana licensing round for 100 retail permits, Missouri growers and dispensary licensee applicants face fierce competition, Illinois restricts cannabis electricity and water use for MJ growers – and more of the week’s top cannabis business news. 100 MJ retail permits up for grabs in L.A. The rush is on for another

Week in Review: New L.A. cannabis retail permit round, MMJ license race hot in MO, IL restricts electricity/water use for MJ growers & more is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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george scorsis

September 06, 2019
 

Business prospects are permitted at the discretion of legislators and regulators around the world. So anyone interested in capitalizing on the overseas cannabis industry must pay close attention to those legal and regulatory developments—and perhaps even participate in crafting the rules. Here are seven countries to keep an eye on as they roll out new

Global Cannabis: Seven Nations Where Change is on the Horizon is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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additional information, George Scorsis

September 06, 2019
 

There seven businesses are worth watching at they attempt to capitalize on the numerous business opportunities in the global marijuana market for entrepreneurs and companies with ambition. And check mjbizdaily.com/intl often for new updates. Looking for where else the action is taking place in the global cannabis market? Here is our list of seven countries to keep

Global Cannabis: Seven Global Players Worth Watching is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis

September 05, 2019
 

We’ve all heard the idiom “mind your p's and q's.” But in the business world, p's and q's speaks to how we drive revenue: price and quantity.

Price, quantity key metrics for cannabis sector’s financial health is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis Aphria

September 05, 2019
 

The marijuana industry has spent about $2 million so far this year lobbying for federal cannabis reform in Washington DC, and more than half that money has come from individual MJ-related companies. Businesses and lobbying organizations said the investments are critical in helping lawmakers and federal regulators understand the importance of cannabis-related issues. They are

Curaleaf, Surterra among big spenders on federal marijuana lobbying is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis Liberty Health Sciences

September 04, 2019
 
Bruce Linton, Canaccord Genuity Analyst & Faircourt Asset Fund Manager - Midas Letter RAW 247
Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis Liberty Health Sciences

September 04, 2019
 

Former New Zealand Prime Minister Helen Clark is supporting the nation’s binding 2020 referendum on ending cannabis prohibition. In an opinion piece published in the United Kingdom’s Guardian newspaper titled “Cannabis prohibition doesn’t work anywhere; It’s New Zealand’s turn to legalize it,” Clark urged voters to make New Zealand the first Group of 20 nation

New Zealand’s marijuana legalization referendum picks up major backer is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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additional info, George Scorsis

September 04, 2019
 
Khiron Life Sciences (CVE:KHRN) Expanded Retail Presence and Latin American Growth
Khiron Life Sciences Corp (TSX-V:KHRN) (OTCQB:KHRNF) joins Midas Letter on Skype from his office in Bogota, Colombia to discuss his outlook for the company in the next few quarters. Khiron's revenue has been growing, reporting an adjusted EBITDA of 7.7 million, and will expand its income statement as the company will begin medical cannabis sales within the next six months. Patients living in Colombia should be able to start enjoying shipments of Khiron medical products before the end of the calendar year pending just a couple more regulatory hurdles. Khiron's Kuida cosmeceutical product line is also increasing its distribution across different retail networks. Most recently, Khiron's 50/50 joint-venture with Dixie Brands Inc (CSE:DIXI.U) (OTCQX:DXBRF) received conditional TSX-Venture exchange approval allowing for the commercialization of the Kuida products in the U.S. market. Khiron have advantages in the cannabis market with the lower-cost of running a cannabis company based out of Colombia coupled with the company's progress in Europe and the rest of Latin American like Mexico, Brazil and Argentina. For these reasons, the CEO sees Khiron exceeding the expectations of a consensus of six different analysts indicating that the company's projected profit in 2021 will be at least $6.1 million. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis

September 04, 2019
 

washington hemp cbd food ban

If you’ve been following the hemp scene in Washington state, you know it’s been a bit of a roller coaster. The latest “drop” comes in the form of an August 1 memo from the Washington State Department of Agriculture (“WSDA”) titled Restrictions on the use of hemp CBD as a food ingredient. According to the memo, Washington is following the lead of many other states, most notably California,  in prohibiting the use of hemp-derived CBD (“Hemp-CBD”) in foods and beverages.

Washington is essentially implementing the Food and Drug Administration’s (“FDA”) policy on Hemp-CBD as a food ingredient. Last year, the FDA approved the drug Epidiolex. Epidiolex contains CBD. The Food, Drug and Cosmetics Act (“FDCA”) and FDA regulations generally prohibit an article that is approved or investigated as a drug from being an ingredient in food or dietary supplements, unless that article was marketed as a food or dietary supplement prior to being investigated as a drug. The FDA has concluded that Hemp-CBD was not marketed as a food or dietary supplement before the investigation of Epidiolex and therefore the FDA’s position is that Hemp-CBD cannot be added to food or dietary supplements.

According to the WSDA, Hemp-CBD is not approved as a food ingredient. Note that the WSDA’s memo does not apply to Washington’s regulated marijuana market. Licensed retailers are still free to sell CBD-infused edibles derived from marijuana, so long as those products were manufactured by a licensed processor. Washington processors are allowed to add Hemp-CBD to marijuana products so consumers, over the age of twenty-one, can still access Hemp-CBD by going to marijuana retailers. Additionally, the WSDA has stated that some parts of the hemp plant, specifically hulled hemp seeds, hemp seed protein powder and hemp seed oil are allowed for use in food. Why? Because the FDA has determined that these components are Generally Recognized as Safe (“GRAS”) for use in food. Notwithstanding these marijuana-food products containing CBD and food items containing these GRAS components, the WSDA is prohibiting all hemp in food:

Other parts of the hemp plant, including CBD, cannot be used as a food ingredient under a Washington State Food Processor License. Foods containing unapproved parts of the hemp plant may not be distributed in Washington State under a Washington State Food Storage Warehouse License.

This development from the WSDA was somewhat unexpected in light of Senate Bill 5276, which went into effect in April and overhauled Washington’s hemp program in light of the 2018 Farm Bill.  Section 4 of SB 5276 provides:

“[t]he whole hemp plant may be used as food. The [WSDA] shall regulate the processing of hemp for food products, that are allowable under federal law, [and] may adopt rules as necessary to properly regulate the processing of hemp for food products including, but not limited to, establishing standards for creating hemp extracts used for food.”

In addition, SB 5276 Section 14 struck RCW 15.120.020’s language which previously prohibited processing hemp, except for hemp seeds, into any consumable good.  This is not to say that the WSDA doesn’t have authority to follow the FDA’s position on hemp, it just seemed as if the legislature had set the WSDA up to allow for Hemp-CBD in a whole host of products, including food.

In terms of enforcement, it does appear that the WSDA is going to ramp out any aggressive efforts against Hemp-CBD right away:

Recognizing that these recent changes in law may have caused some confusion in the manufactured-food industry, WSDA has been reaching out to the industry so they can take appropriate actions, such as removing CBD ingredients from their products or discontinuing distribution of CBD-containing food products in the state. WSDA is committed to working with our food industry partners during this transition.

Steve Fuller, director of the WSDA’s Food Safety and Consumer Services division told Ben Adlin of Leafly that he prefers to focus enforcement efforts on “outreach and education,” optimistically stating that “[a]s processors and distributors learn that this is not legal either federally or within the state, most of them will do the right thing and figure out a way to come into compliance around that.”
If the outreach and education method doesn’t work, we expect to see WSDA partnering with cities and counties to seize Hemp-CBD food products and potentially even shut down non-compliant businesses. It’s worth noting that King County’s Food Protection Program weighed in on Hemp-CBD in food on August 30:

Recently there has been interest from food establishment operators in selling food and beverage products with industrial hemp and its derivatives such as cannabidiol, more commonly known as CBD. Federal and State laws do not permit the manufacture and retail sales of CBD as a food ingredient in foods and beverages for sale in retail food establishments.

Therefore, in King County, the addition of CBD to food and beverages is prohibited until further guidance and approval by the U.S. Food and Drug Administration, Washington State Department of Agriculture, and Washington Department of Health.

This means that operators may not add CBD to food or beverages, nor may they obtain products containing CBD for resale in any retail food establishment in King County, including restaurants, coffee shops, cafeterias, grocery stores, or at temporary food events and farmers markets.

So what is the big takeaway here? If you are operating in Washington State, steer clear of Hemp-CBD in foods for now. If the FDA changes its tune, the WSDA will likely follow suit but until then, selling Hemp-CBD food in the Evergreen State is risky.
Finally, if you want some additional information on Hemp-CBD in Washington, check out the September 3 episode of KUOW’s The Record where I spoke to host Bill Radke about whether CBD bars are legal in Washington State.

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George Scorsis

September 02, 2019
 

napa california cannabis

 

Cannabis cultivation and the means for regulating it have been contentious topics in Napa County for some time now. Back in July, proponents of allowing commercial cannabis cultivation in unincorporated Napa County, led by the Napa Valley Cannabis Association, collected enough signatures to qualify for a ballot measure during the March 3, 2020 election.

Following collection of those signatures, the County Board of Supervisors took up the issue on July 23rd. Typically, the Board would have three possible paths forward in such a situation. The Board could: 1) place the measure on the ballot next March, 2) adopt the measure outright, or 3) order a 9111 report to analyze the potential impact of the measure before taking action at a later date.

The County Board of Supervisors issued a 9111 report regarding the cannabis regulation initiative on August 20th in which it analyzed the land use, environmental, fiscal, and other impacts of the proposed initiative. The report detailed some of the negative implications that could result from the initiative, including a purported negative impact on Napa County’s tourism industry “through adverse odor and visual impacts on wineries, restaurants, resorts, and lodging facilities in both incorporated and unincorporated areas of the county.” The report drew analogies to the struggles of Santa Barbara County in regulating cannabis as well.

Aside from the details contained in the 9111 report, opponents of the initiative emphasized that the initiative process was not the proper means for developing cannabis regulations for the county, because the county’s ability to amend the regulations established pursuant to that initiative would be extremely limited. Such amendments could only occur via a ballot vote.

But on August 28th, proponents of commercial cannabis cultivation in the county “announced plans to withdraw their ballot initiative, saying they now prefer regulations they are seeking to be included in an ordinance by the county board of supervisors.”

“Following discussions with industry trade associations, various members of the Napa Board of Supervisors and community, the NVCA and The Committee prefer an ordinance that is a living document, over an initiative process,” Napa Valley Cannabis Association board member Eric Sklar wrote. “An ordinance can be evolved and changed by the Board of Supervisors at any time, whereas approved initiatives can only be changed with a ballot vote.”

Additionally, Sklar described the withdrawal as a “gesture of good faith,” stating, “We support and prefer the ordinance process to collaboratively develop written regulations that will evolve in line with the current and future needs of the community, in a responsible and representative manner.”

Hopefully the withdrawal of the initiative will open the door to productive collaboration on an ordinance that adequately addresses the interests and concerns of all impacted parties. This serves as yet another example of the myriad ways local jurisdictions in California have struggled to regulate cannabis in the wake of legalization, and we’ll be paying close attention to see how one of California’s most recognized agricultural regions decides to move forward.


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george scorsis

September 01, 2019
 

idaho cannabis hemp cbd

The Agriculture Improvement Act of 2018 (“2018 Farm Bill”) legalized hemp by removing the crop and its derivatives from the definition of marijuana under the Controlled Substances Act (“CSA”) and by providing a detailed framework for the cultivation of hemp. The 2018 Farm Bill gives the US Department of Agriculture (“USDA”) regulatory authority over hemp cultivation at the federal level. In turn, states have the option to maintain primary regulatory authority over the crop cultivated within their borders by submitting a plan to the USDA. This federal and state interplay has resulted in many legislative and regulatory changes at the state level. Indeed, most states have introduced (and adopted) bills that would authorize the commercial production of hemp within their borders. A smaller but growing number of states also regulate the sale of products derived from hemp.

In light of these legislative changes, we are presenting a 50-state series analyzing how each jurisdiction treats hemp-derived cannabidiol (“Hemp CBD”). Each Sunday we will summarize a new state in alphabetical order. So far, we’ve covered Alabama,  Alaska,  Arizona,  ArkansasCaliforniaColoradoConnecticutDelawareFlorida, Georgia and Hawaii. Today we turn to Idaho.

To put it bluntly, Idaho is probably the worst state in the country to get caught with hemp. Hemp cultivation is not legal, even after the passage of the 2018 Farm Bill. The state legislature considered House Bill 122 earlier this year. It would have allowed for the regulated cultivation of hemp. It stalled out in April.

Long before that bill failed, the Idaho Attorney General issued an informal opinion (see pages 132-134) on the legality of Hemp-CBD in 2015. He concluded that in almost all cases, the possession of any form of CBD, whether derived from marijuana or hemp, is illegal.  According to the opinion, in Idaho, products containing CBD are only legal if the two following criteria are met:

  • the substance cannot contain any THC; and
  • the substance must be excluded from the definition of “marijuana” under Idaho Code § 37-2701(t)

Under Idaho Code § 37-2701(t), the only legal part of the cannabis plant, whether hemp or marijuana, are (a) mature stalks of the plant; (b) fiber produced from the stalks; (c) oil or cake made from the seeds or the achene of such plant; (d) any other compound, manufacture, salt, derivative, mixture, or preparation of the mature stalks; or (e) the sterilized seed of such plant which is incapable of germination.

For a CBD product to be legal in Idaho and it must be totally THC free and must come from one of the five categories mentioned above. It doesn’t matter whether the CBD was derived from hemp or marijuana. If derived from anything other than the seeds or stems of the cannabis plant, it is illegal.

Stems and seeds aren’t going to have high levels of CBD or any other cannabinoids so really this just means that CBD is pretty much outlawed in Idaho with one notable exception: Idaho allows for FDA-approved CBD, such as that found in Epidiolex. The Idaho Office of Drug Policy’s webpage on CBD Drug Policy indicates that Idaho’s position on CBD has not changed as of June 2019 and that the informal opinion from 2015 is still followed.

Idaho’s opposition to hemp goes beyond the informal opinion as Idaho has recently seized hemp shipments traveling through the state. On August 28, 2019, the Ninth Circuit Court of Appeals heard oral arguments in Big Sky Scientific, LLC v. Jan Bennetts, on appeal from the District of Idaho. We wrote about that case in great detail here.

The case involved the Idaho State Police’s seizure of 6,700 pounds of industrial hemp biomass cultivated lawfully in Oregon that was on its way to Colorado for state-lawful processing. The appeal involved the denial of Big Sky’s preliminary injunction by the state court. Big Sky moved for a declaratory judgment stating that Idaho Police improperly seized Big Sky’s hemp in light of the 2018 Farm Bill’s and a preliminary injunction requiring police to return the hemp. The District Court issued an Order denying relief to Big Sky stating that it’s not clear that the 2018 Farm Bill, which prohibits states from interfering with shipments of legal hemp, provides protection for hemp grown under the 2014 Farm Bill. Because the USDA has not approved any state-level hemp cultivation plans under the 2018 Farm Bill, all hemp in the US is grown under the 2014 Farm Bill. In other words, all hemp shipments are at risk of seizure if they pass through Idaho.

The Ninth Circuit indicated that it believes federal jurisdiction may have been improper, meaning the case may ultimately be dismissed on procedural grounds. Even if Big Sky is unsuccessful here on procedural grounds, it’s worth noting that the USDA’s opinion is that Idaho should not have seized this hemp under the 2018 Farm Bill.

One day Idaho will come around and stop fighting hemp farmers who are merely shipping products through the state. For now, Idaho is one of the worst states on hemp. If you are a stakeholder in this industry, avoid Idaho at all costs.


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george scorsis

August 31, 2019
 

julian castro marijuana cannabis

Every Saturday, we have been running a series of blog posts that take a close look at the Democratic Party candidates for President in 2020. We examine each candidate’s historic approach to marijuana law and policy, and we also canvas their current respective stances on marijuana.

Over the past nine weeks, we covered Joe BidenBernie SandersKamala Harris, Elizabeth WarrenPete ButtigiegCorey BookerBeto O’RourkeAndrew Yang and Amy Klobuchar.  Today, we turn to Julián Castro, former U.S. Secretary of Housing and Urban Development and former Mayor of San Antonio.

Grade: B-

Stance on marijuana: Julián Castro supports legalizing marijuana and expunging records of past marijuana convictions as he said at a town hall in April.

History: Prior to his pro-legalization statement in April, Castro had remained relatively ambivalent on the issue of marijuana. Under Castro, HUD issued a statement reaffirming its policy of allowing property owners to evict marijuana users in federally assisted housing facilities. Other than this statement, however, Castro lacks much of a legislative record (or any other record) on marijuana. In 2014 (five months before his appointment as HUD secretary), Castro expressed uncertainty about whether he supported legalizing marijuana:

I haven’t looked at the science yet about addiction and what it means, but it’s certainly something that I think deserves more scrutiny and more analysis.

Castro’s website does not mention marijuana. Though Castro does address some aspects of criminal justice reform through his platform on policing, important topics such as the War on Drugs, legalizing marijuana, and sentencing reform are nowhere to be found on his website.

To his credit, Castro has expressed his views on marijuana on social media. In 2017, he criticized the Trump administration for threatening to crack down on states that legalized marijuana, writing in a Facebook post:

The federal government should focus its resources on more serious crimes. Not only that, growing evidence from Colorado and other states suggests we can sensibly legalize marijuana use with reasonable controls in place. State voters should have that power.

This past January, Castro retweeted a post by Representative Ro Khanna that called for both legalizing marijuana and expunging marijuana convictions from criminal records. Then in April, Castro announced his full support for legalization at a town hall and later on Twitter.

Conclusion: Julián Castro receives a “B-” grade because his support for the legalization of marijuana is not an important part of his platform and because he has no legislative record on the issue. Castro has openly supported legalizing marijuana on his social media, but he does not mention marijuana on his website and only recently did he wholeheartedly express support for legalization at the federal level. He also omits key aspects of criminal justice reform from his platform. Overall, as president we think Castro would support legalizing marijuana, but we question his enthusiasm on this issue.


[Read More ...]

George Scorsis

August 30, 2019
 
Trulieve Cannabis Corp (TRUL), Green Relief, Generation Mining (CNSX:GENM) - Midas Letter RAW 245
Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis

August 30, 2019
 
Green Relief CEO, Dr. Neilank K Jha on CBD Recovery in Sport
************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis

August 30, 2019
 
30 Minutes with Trulieve (CSE:TRUL) CEO, Kim Rivers
Kim Rivers in-depth interview with Nika Domi ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis Liberty Health Sciences

August 30, 2019
 

The owners of a high-profile marijuana shop in Southern California – Santa Ana’s 420 Central – are accused in a lawsuit of defrauding investors. The suit, filed in Orange County Superior Court of California, contains a host of salacious allegations, including one that founder and CEO Robert Taft ran an unlicensed marijuana grow operation in Sonoma County.

California cannabis company accused of breach of contract, fraud is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

August 30, 2019
 

Illinois awarded its first licenses to businesses that can sell recreational cannabis when it becomes legal in the state next year. State regulators announced the five medical marijuana dispensaries where residents will be able to buy small amounts of recreational marijuana products starting Jan. 1. The first group of licensees are all owned by Chicago-based

Illinois licenses first five adult-use marijuana retailers is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis

August 30, 2019
 

usda hemp testing thc

Hemp stakeholders have been eagerly waiting for the release of rules and regulations by the U.S. Department of Agriculture (“USDA”). Although the 2018 Farm Bill removed the hemp and its derivatives from the Controlled Substances Act, it did not provide clear, consistent and reliable standards to safely and lawfully produce the crop. Instead, the new law tasked the USDA with adopting those standards with which states and Native American tribes wishing to regulate the crop within their borders will have to comply.

Earlier this summer, the USDA announced in a notice published in the Federal Register that it aimed to release its interim final rule in August. However, various comments recently made by USDA representatives suggest that the agency is struggling to meet its deadline. Specifically, the agency seems to be wrestling with the drafting of THC testing standards.

THC Testing standards matter because THC concentration is the key factor in differentiating hemp from marijuana.  It is the difference between a regulated agricultural commodity and a Schedule I controlled substance. Without a national THC testing standard marijuana and hemp are virtually impossible to differentiate because they look, smell and feel the same.

Pursuant to Section 297B (a)(2)(A)(ii) of the 2018 Farm Bill, states and Native American Tribes seeking regulatory authority over the production of hemp must submit a plan to the USDA that includes, in part,

a procedure for testing, using post-decarboxylation or other similarly reliable methods, delta-9 tetrahydrocannabinol concentration levels of hemp produced in the State or territory of the Indian tribe[.]”

As I explained in a prior post, there is no “postdecarboxylation” testing method per se, and although the congressional intent of the 2018 Farm Bill apparently was to refer to a testing method known as gas chromatography (“GC”), this method has been heavily criticized by stakeholders because it tends to increase the THC concentration in the hemp sample and pushes it over the 0.3 percent limit.

So it isn’t entirely surprising that the USDA is struggling to craft THC testing standards with so little guidance.

Unfortunately, this delay is further exacerbating state and local enforcement authorities’ ability to differentiate hemp from marijuana. As of now, most jurisdictions lack the resources to test for specific levels of THC and differentiate hemp from its illegal cousin, marijuana. The patchwork of testing standards across states has further hindered the lawful sale of hemp nationwide. After all, why impose a 0.3 percent THC threshold if the states are imposing 50 different testing standards?

Establishing a reliable and uniform testing standard is only one of many other standards the USDA needs to promulgate in order to fulfill the intent of the 2018 Farm Bill. Implementing a procedure for tracking the source of the crop and its finished products is as important as the adoption of a uniform testing standard. Indeed, the 2018 Farm Bill legalized hemp grown pursuant to a state or Native American tribe plan. This means that not all hemp is treated equal, even if the tested crop contains no more than 0.3 percent THC.

As such, hemp industry players must maintain records showing the source of the plant, including but not limited to the grower’s license under which hemp was cultivated as well as the certificate of analysis (“COA”) for each batch of hemp or finished hemp product tested showing that they contain no more than 0.3 percent THC. If your company is dealing in hemp, you should know exactly where it was grown and should be prepared to prove it.

The lawful production and sale of hemp and hemp products is a complex business that requires cautious planning and due diligence. As such, hemp stakeholders should consult with lawyers who thoroughly understand the field in order to mitigate their risks and thrive in this fairly unregulated market.


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george scorsis

August 30, 2019
 

The DEA indicates support for expanding cannabis research, a Florida medical marijuana licensing issue is sent to the state’s Supreme Court for potential review, a Nevada judge freezes some permits for new recreational marijuana shops – and more of the week’s top cannabis business news. DEA to up cannabis research The U.S. Drug Enforcement Administration (DEA)

DEA marijuana research, MMJ licensing case heads to FL high court, NV adult-use license ruling & more is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis Aphria

August 30, 2019
 

The DEA indicates support for expanding cannabis research, a Florida medical marijuana licensing issue is sent to the state’s Supreme Court for potential review, a Nevada judge freezes some permits for new recreational marijuana shops – and more of the week’s top cannabis business news. DEA to up cannabis research The U.S. Drug Enforcement Administration (DEA)

Week in Review: DEA marijuana research, MMJ licensing case heads to FL high court, NV adult-use license ruling & more is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis website

August 30, 2019
 

The cultivation scandal that engulfed Ontario-based CannTrust, one of Canada’s top marijuana companies, dealt a serious blow to the company’s reputation, according to a survey by market research firm Leger, which exclusively shared its findings with Marijuana Business Daily.

CannTrust reputation plummets in wake of cannabis cultivation scandal: Q&A with pollster Dave Scholz is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

August 29, 2019
 

Vireo Health, a Minneapolis-based multistate marijuana operator, on Thursday reported revenue of $7.2 million in the second quarter, up 70% from the same period a year ago. The net loss for the quarter, ending June 30, was approximately $1.9 million, compared with net income of $120,080 for the prior-year period. The company recently announced it

Vireo Health posts cannabis revenue rise, net loss for second quarter is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

August 29, 2019
 
Canopy Rivers Inc (CVE:RIV) Horizontally Integrated Investment Ecosystem
Canopy Rivers Inc (CVE:RIV) (OTCMKTS:CNPOF) CEO Narbe Alexandrian joins Midas Letter to discuss the company's value proposition for investors to avail themselves of venture capital firm level due diligence while investing in a portfolio of cannabis companies. The CEO likens the investment to an Exchange-Traded Fund (ETF), however Canopy Rivers also are able to invest into private companies at multiples lower than companies already trading in public markets. Mr Alexandrian states he "can proudly say that I don’t think any other venture fund out there within the cannabis space looks at as many deals as us." In the last year Canopy Rivers, with its merchant bank type of structure in the cannabis space, have seen 1,523 pitches to date. The company looks to invest in all segments of the cannabis value chain and currently have eighteen companies in its portfolio. The recent purchase and supply agreements between portfolio companies James E. Wagner Cultivation Corp (JWC) and TerrAscend Corp demonstrates the collaboration and synergy that can happen within their investment ecosystem. The CEO also discusses his views on the future of the cannabis sector and what that means for Canopy Rivers future deal flow. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis Liberty Health Sciences

August 29, 2019
 

Tilt Holdings, a Massachusetts-based company specializing in cannabis technology, reported revenue of $39 million in the second quarter, a 13% increase from the first quarter of 2019. Net loss for the second quarter, ending June 30, was $48.9 million, compared with a net loss of $5.3 million for the prior-year period. Tilt Holdings trades on

Tilt Holdings reports increased marijuana revenue, second-quarter loss is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Liberty Health Sciences

August 29, 2019
 

For investors, it is critical to know the details of how a cannabis company in this hypergrowth industry plans to bridge the gap between its current money-losing reality and the vision of a profitable future.

Cannabis path to profitability requires close look at operating models is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

August 29, 2019
 
CannTab Therapeutics Ltd (CNSX:PILL) Hard Pill Formulation is Patentable, Novel and Useful
CannTab Therapeutics Ltd (CSE:PILL) (OTCMKTS:CTABF) (FRA:TBF1) CFO Richard Goldstein visits Midas Letter Studios to discuss the recent stock surge and latest company developments. CannTab is a solid oral-dose tablet company, which started in the pharma business and then adapted its technologies to the cannabis space almost four years ago. The stock jumped as high as 98 percent and closed up 62.5 percent from the previous days closing price. The CFO explains “we had the little flurry of activity; we hope to have more trading and more interest behind the stock. We’re getting more eyeballs, and taking advantage of all our hard work.” CannTab recently graduated on the OTC to the QX listing making it easier for US investors to take ownership of the company. Mr. Goldstein believes tablets are truly the medical answer. The company’s bi-layered tablet, which are scheduled to be going into clinical trials soon, combine immediate release and extended release properties, using both CBD and THC. Additionally, the hard pill received an initial assessment from the Geneva-based International Preliminary Report on Patentability indicating the formulation is novel, non-obvious and useful. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis Aphria

August 28, 2019
 

Marijuana company Origin House posted revenue of 21.4 million Canadian dollars ($16 million) in the second quarter, a sixfold increase over the CA$3.5 million ($2.6 million) it reported for the same period a year ago. But the Ottawa-based company’s losses totaled CA$34.9 million ($26.2 million) for the quarter ending June 30, compared with a profit

Origin House cannabis revenues rise, but losses mount is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

August 28, 2019
 

Oregon-based cannabis genomics company Phylos Bioscience's disclosure that it was positioning itself to be bought by Big Ag underscores the need for marijuana companies to take steps to protect their cannabis genetics and data from falling into the wrong hands.

How cannabis companies can protect intellectual property in the wake of Phylos Bioscience uproar is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Liberty Health Sciences

August 27, 2019
 
Horizons ETFs Management (TSE:HMMJ) Opportunity to Scale into Top Marijuana Companies
Horizons ETFs Management (TSE:HMMJ) Senior Vice-President of ETF Strategy Mark Noble joins Midas Letter to discuss the downturn in the cannabis sector - which in his contrarian view provides investors with a entry opportunity into higher quality marijuana companies. Mr. Noble believes investors are looking solely at company earnings and profitability while overlooking company strategies for growth, especially direct investment into foreign markets looking to scale the companies global footprint. The Senior VP highlights Organigram and Aphria's financials, as both companies generated a profit on Canadian revenues, but doesn't believe other top cannabis companies should be punished in the markets while extending themselves outside of Canada for future growth capitalization. And there is where the potential opportunity may lie. As of the interview date, the HMMJ ETF is still up around 12 percent, although the whole sector has declined around 30 percent in the last quarter. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis

August 26, 2019
 
ChartingManDan Technical Analysis, Macroeconomic News (SP500 & Gold) - Midas Letter RAW 241
Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis Liberty Health Sciences

August 26, 2019
 

The U.S. Drug Enforcement Administration (DEA) announced Monday that it will expand scientific and medical research of marijuana, a development that could ultimately boost industry prospects. But it’s unclear how soon additional research projects will be approved. The DEA said in a “notice to applications” filed with the Office of the Federal Register that it intends

DEA supports expanding cannabis research, but timing uncertain is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

August 26, 2019
 
Cannabis News 26th August 2019 - Khiron, James E Wagner, Halo Labs, 48North
************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis Liberty Health Sciences

August 26, 2019
 

Last December, East Fork Cultivars, an outdoor cannabis farm in the idyllic Illinois River Valley of Southern Oregon, partnered with Portland, Oregon-based agricultural genomics company Phylos Bioscience on a breeding program specifically targeting new varietal traits.

How Phylos Bioscience sent shockwaves through the cannabis industry with ‘Big Ag’ disclosure is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

August 25, 2019
 

hawaii cannabis marijuana

The Agriculture Improvement Act of 2018 (“2018 Farm Bill”) legalized hemp by removing the crop and its derivatives from the definition of marijuana under the Controlled Substances Act (“CSA”) and by providing a detailed framework for the cultivation of hemp. The 2018 Farm Bill gives the US Department of Agriculture (“USDA”) regulatory authority over hemp cultivation at the federal level. In turn, states have the option to maintain primary regulatory authority over the crop cultivated within their borders by submitting a plan to the USDA. This federal and state interplay has resulted in many legislative and regulatory changes at the state level. Indeed, most states have introduced (and adopted) bills that would authorize the commercial production of hemp within their borders. A smaller but growing number of states also regulate the sale of products derived from hemp.

In light of these legislative changes, we are presenting a 50-state series analyzing how each jurisdiction treats hemp-derived cannabidiol (“Hemp CBD”). Each Sunday we will summarize a new state in alphabetical order. So far, we have covered Alabama,  AlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareFlorida, and Georgia. This week, we look at Hawaii.

Hawaii is one of the growing list of states that has created an industrial hemp cultivation pilot program. The Hawaii Department of Agriculture (“DOA”) launched the state’s hemp cultivation program and issued the state’s first license in June 2018. In May 2019, Hawaii enacted SB-1353, a bill that required DOA to establish a permanent hemp program under the 2018 Farm Bill, among other things. It’s important to note that DOA’s authority only falls on cultivation and not processing or retail sales, but DOA warns that processing could subject a person to different sets of regulations or different legal authorities.

But if you thought Hawaii would be friendly to Hemp CBD products, think again. Sort of like California, a May 2019 press release by the Hawaii Department of Health (“DOH”) states that the sale of CBD infused-products is unlawful in Hawaii.  DOH’s Food and Drug Branch echoes this press release on its website:

  • Products containing CBD are not generally considered safe and there may be potential health risks associated with them.
  • It is illegal to add CBD to food, beverages and cosmetics that are manufactured, distributed and sold in Hawaii.
  • CBD may not be sold as a “dietary supplement.”
  • CBD may not be marketed by asserting health claims because that would constitute prohibited misbranding or false advertising.
  • CBD is the active ingredient in an FDA-approved prescription drug. Therefore, it cannot be put into food, beverages and cosmetics, sold as a drug without a prescription, or marketed as a “dietary supplement.”

These statements by the DOH make pretty well clear that they are following the federal Food and Drug Administration’s (“FDA”) guidelines (by repeatedly citing/referring to them), but they also cite Hawaii’s food, drug, and cosmetics laws, similar to what California has done.  In fact, Hawaii appears to have gone further than both the FDA and California in prohibiting Hemp-CBD in cosmetics. Hawaii’s position on Hemp-CBD is one of the strictest in the nation as the sale of Hemp CBD products such as foods, beverages, cosmetics, dietary supplements, unapproved drugs, or any other kind of Hemp CBD product that makes health claims, appears to be unlawful in Hawaii.

The bottom line is that the sale of many different kinds of Hemp CBD products in Hawaii appears to be unlawful, at least according to the DOH. Anyone who follows this blog knows that these laws are fluid and changing rapidly, so stay tuned to the Canna Law Blog for further developments.


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George Scorsis

August 24, 2019
 

(This is an abridged version of a story that appears in the August issue of Marijuana Business Magazine.) Medical and recreational cannabis retail stores near state borders have tremendous business opportunities. They’re able to draw the interest of cannabis consumers in adjacent states that might prohibit the drug and can also benefit from reciprocity laws that

Cannabis retailers should embrace out-of-state consumers – after they’ve taken appropriate steps is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

August 23, 2019
 

Acreage Holdings, one of the largest multistate operators in the U.S. marijuana market, faces a demand for arbitration from a Rhode Island company that claims Acreage violated a contract agreement. CanWell filed an arbitration request alleging that New York-based Acreage breached a noncompete portion of an operating agreement the companies signed in 2018 by pursuing competing

Rhode Island cannabis company seeks arbitration against Acreage Holdings is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

August 23, 2019
 

Tilt Holdings, a Massachusetts-based company specializing in cannabis technology, faces a possible class-action lawsuit over its marketing tactics.

Lawsuit alleges marijuana tech firm Tilt Holdings broke law with solicitations is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

george scorsis

August 23, 2019
 
Goldplay Exploration, Gold Price, SP500 on the back of FED Powell Address - Midas Letter RAW 241
Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis website

August 23, 2019
 
RavenQuest BioMed Inc (CNSX:RQB) Orbital Gardens Passes Health Canada Analytical Tests
RavenQuest BioMed Inc (CNSX:RQB) (OTCMKTS:RVVQF) (FRA:1IT) joins Midas Letter to discuss the quality and cleanliness of their cannabis products produced from the company’s revolutionary orbital garden technology. All cultivars passed analytical tests otherwise known as the COA (Certificate of Analysis) as required by Health Canada. It is becoming exceedingly rare among licensed producers that its grown cannabis have no traces of pesticides or Aflatoxins detected. The low microbial readings serve as evidence that the products produced by RavenQuest BioMed are safe. Mr. McDonald also discusses the company’s future direction heading into edibles and extracts market in Canada as well as their large growth plans for Europe, starting with Portugal and Norway. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis

August 23, 2019
 

Guam, a U.S. territory, reminded businesses and consumers that recreational cannabis sales remain prohibited until the new rules to govern the industry are completed.  The Western Pacific island approved the creation of an adult-use cannabis market earlier this year.  The Cannabis Control Board has until April 2020 to finalize a set of rules and regulations

Guam clarifies adult-use marijuana rules ahead of new industry regulations is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

August 23, 2019
 

Regulators in New Mexico will cap licensed medical marijuana cultivators to 1,750 mature cannabis plants starting next week, a 30% drop from the 2,500 plants allowed under an expiring emergency state rule. Some cultivators such as Ultra Health, the largest MMJ operator in the state, said the plant limit will exacerbate a medical marijuana shortage

New Mexico limits medical cannabis growers to 1,750 plants is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Aphria

August 23, 2019
 

Alaska Gov. Mike Dunleavy is bringing back a marijuana advocate to the state cannabis regulatory board, a move welcomed by an industry that successfully fought his attempt to install an MJ critic. Dunleavy’s office said he appointed Bruce Schulte to the Marijuana Control Board. Schulte was involved in the 2014 initiative that legalized adult-use marijuana

Alaska governor puts marijuana advocate back on state MJ board is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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george scorsis

August 23, 2019
 
Cannabis News August 23 2019 - 48North Cannabis Corp iAnthus Capital Holdings, Inc Avicanna Inc
48North Cannabis Corp iAnthus Capital Holdings, Inc Avicanna Inc ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

george scorsis

August 23, 2019
 
Legendary DJ David Marsden talks about the revolution of radio & cannabis
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George Scorsis website

August 22, 2019
 

(This story is part of MJBizDaily’s premium subscription service, Investor Intelligence.) Warrants can align stakeholder incentives with shareholder interests, but they complicate the share count at different valuations and can cloud what you really own. There are two essential steps to valuing equity: Value the underlying business. Divide that by the stakeholders – first the debt

How much is your slice of the marijuana pie worth? is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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additional information, George Scorsis

August 22, 2019
 

(This story has been updated to include further comments from the Ontario Cannabis Store and the Ministry of the Attorney General.) Regulators in Canada’s largest cannabis market are working to return to the current government’s original plan of allocating adult-use marijuana store licenses based on market demand, a move that would unlock significant opportunities for the

Ontario planning to allocate cannabis store permits ‘based on market demand’ is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Liberty Health Sciences

August 22, 2019
 

California-based KushCo Holdings, a cannabis company specializing in ancillary products such as packaging, closed on a $50 million credit facility that will be used for working capital and potential acquisitions. The transaction consists of a $35 million revolving line of credit that can be increased by $15 million subject to certain terms, according to the

Marijuana firm KushCo secures $50 million credit line is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

August 22, 2019
 

doterra young living cannabis cbd mlm

Recently I wrote about the two dominant global MLM essential oil companies based in Utah: Young Living and doTERRA. Last month Young Living announced it is entering the CBD oil market, but doTERRA publicly stated on its website that it will not (yet) follow suit, even though everyone and their dog are clamoring for CBD oil and CBD oil-derived products. doTERRA only hints that it may produce CBD oil if it can be produced according to doTERRA’s rigorous standards for its products, but “Right now, it is not possible to deliver a CBD oil that meets [doTERRA’s] CPTG® standards.”

Instead, doTERRA has gone to great lengths to educate its distributors (wellness consultants) both about the medical and legal issues surrounding CBD oil. On its website in a post modestly titled Everything You Need to Know About CBD, doTERRA provides a part-medical part-legal treatise, complete with embedded video, a PowerPoint presentation, and 24 footnotes to medical journals and federal laws. Its thoroughness means that it is a beast to digest if you did not double major in pre-med and pre-law, but doTERRA makes some compelling points about the current unsettled state of CBD.

On the legal side, doTERRA takes a conservative approach:

  • doTERRA advises its distributors to “remain cautious” against products that may not follow the Federal Food, Drug, and Cosmetics Act (the “FD&C Act”) that may put health and safety at risk. This point is well taken, as we mentioned in a prior blog post entitled Four Important Considerations for Any Hemp CBD Company.
  • Relatively little medical and scientific research has been completed regarding CBD and its “perceived health benefits” (see FDA Says It Is Speeding Up The CBD Regulation Process). This point is also well taken with respect to U.S. regulators. Neither the FDA nor the USDA have issued implementing regulations yet regarding hemp-derived CBD.

Young Living is aware of these potential legal issues with the current state of CBD, and it has taken proactive steps to mitigate potential negative effects. In its acquisition of Colorado-based Nature’s Ultra that produces 0.0% CBD oil (no THC content), Young Living has opted to keep Nature’s Ultra as a separate operating company rather than integrating its operations within Young Living. Nature’s Ultra’s CBD oils can be purchased with Young Living’s essential oils blended into its products rather than the other way around.

On the medical side, doTERRA provides extensive information regarding cannabinoids:

  • The human body has cannabinoid receptors that are broken down into two categories:
    • CB1 receptors – affect the brain and central nervous system (pleasure and reward) (more widely distributed throughout the body).
    • CB2 receptors – immune system (inflammatory system) (less widely distributed than CB1 receptors).
  • THC works directly on both CB1 and CB2 receptors.
  • CBD works indirectly on both CB1 and CB2 receptors by slowing down the work of an enzyme called fatty acid amide hydrolase (“FAAH”), which breaks down anandamide (your body’s naturally-produced cannabinoid as a response to strenuous exercise (runner’s high), stress (fight or flight), and other related stimuli (stepping on a pile of your kid’s Legos in the dark)), which is why anandamide is called an endocannabinoid).
    • A slower breakdown in anandamide means it is present in the body longer and continues to interact with the body’s CB1 and CB2 receptors.

Finally, in good competitive market fashion, doTERRA educates its distributors that it already has a superior product to CBD oil called Copaiba oil:

  • Copaiba oil contains beta-caryophyllene (“BCP”), which is a cannabinoid and a sesquiterpene (delivers oxygen molecules to cells) found in hundreds of different plant species.
  • Copaiba oil comes from distilling the oleoresin of varieties of copaiba trees, which are found in Brazil. The resin is harvested similar to the method used to extract maple sap from maple trees.
  • BCP interacts directly with the body’s CB2 receptors (“no risk of psychoactive effects”), “soothing tissues and helping to manage healthy inflammatory responses.”
  • doTERRA’s copaiba essential oil contains 55% BCP content, which is the “highest BCP content of any known oil.”
  • Its efficacy means only “a drop or two” is needed for its BCP to start affecting the human body, so its price point is significantly lower than CBD oil per application (They can’t call it a “dose” because “These statements have not been evaluated by the Food and Drug Administration” and “This product is not intended to diagnose, treat, cure, or prevent any disease.”)
  • Copaiba oil has been produced under doTERRA’s rigorous proprietary CPTG® standards.

But at the end of the day, copaiba oil is not CBD oil. BCP is not CBD, even though it contains two of the same three letters and may be confusingly similar enough for doTERRA’s wellness advocates to have an opening in the conversation to educate the market about BCP’s benefits. doTERRA is hoeing a hard row right now, but there is a segment of the doTERRA and Young Living essential oil market that is hesitant to use products that have not been approved by the FDA or that have any trace of THC content, as I explained my prior blog post. If copaiba oil is as effective as and can be purchased at a fraction of the price of CBD oil, it may get some takers, but because it does not interact with the CB1 receptors, it may be a hard sell. And copaiba oil is not as cool or edgy as CBD oil. Will doTERRA eventually produce CBD oil? Almost certainly. Will doTERRA’s consultants be able to educate the market about copaiba and BCP and keep pace with Young Living’s sales of its CBD oil through Nature’s Ultra? Probably not. The developments over the next several months will be interesting as these two competitors continue to fight for market dominance.


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George Scorsis website

August 21, 2019
 

Michigan regulators are hosting a series of educational sessions in September for potential recreational cannabis business applicants, with online applications starting Nov. 1. The five sessions are designed to demonstrate the online business license application process. Under Michigan’s adult-use marijuana law, local jurisdictions decide whether to permit or ban commercial rec MJ activity. There is

Michigan offers application help to adult-use marijuana businesses is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

August 21, 2019
 
Concierge Capital Partners - Intersection of Government Relations, Biz Dev & Capital Markets
************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

george scorsis

August 20, 2019
 

Bruce Linton, the former co-CEO of Canopy Growth who was fired by the Canadian company last month, on Tuesday told CNBC’s “Squawk Box” he has since acquired more shares in the cannabis giant. “It was a right time for them to make the change, and it was the right time to buy the stock,” Linton said

Linton continues investing in marijuana giant Canopy after dismissal is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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additional information, George Scorsis

August 20, 2019
 

Sweeping changes to Lesotho’s cannabis regulations are set to go into effect later this year and are expected to be grandfathered in, meaning existing businesses will be exempted from the most burdensome parts of the new rules, according to government and industry sources. Marijuana Business Daily recently reported that the southern African country is planning

Sources: Lesotho’s draft cannabis regulations to be ‘grandfathered in,’ giving existing firms an edge over new entrants  is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

August 20, 2019
 
Cannabis News August 20th 2019 - Eve & Co, Khiron, Organigram, Canopy Growth, iAnthus, MediPharm
************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis

August 19, 2019
 
Ventura Cannabis (CNSX:VCAN) US MSO with Outpatient Addiction Treatment Background
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george scorsis

August 18, 2019
 

georgia hemp cannabis

The Agriculture Improvement Act of 2018 (“2018 Farm Bill”) legalized hemp by removing the crop and its derivatives from the definition of marijuana under the Controlled Substances Act (“CSA”) and by providing a detailed framework for the cultivation of hemp. The 2018 Farm Bill gives the US Department of Agriculture (“USDA”) regulatory authority over hemp cultivation at the federal level. In turn, states have the option to maintain primary regulatory authority over the crop cultivated within their borders by submitting a plan to the USDA. This federal and state interplay has resulted in many legislative and regulatory changes at the state level. Indeed, most states have introduced (and adopted) bills that would authorize the commercial production of hemp within their borders. A smaller but growing number of states also regulate the sale of products derived from hemp.

In light of these legislative changes, we are presenting a 50-state series analyzing how each jurisdiction treats hemp-derived cannabidiol (“Hemp-CBD”). Each Sunday we will summarize a new state in alphabetical order. So far, we have covered Alabama,  AlaskaArizonaArkansasCaliforniaColoradoConnecticutDelaware, and Florida. This week, we look at the Peach State.

Earlier this year, Georgia jumped on the hemp bandwagon by enacting HB 213, which legalized the commercial production of hemp and hemp products in the state. Under the new law, which is codified in O.C.G.A. § 2-23-1 et seq., only growers and processors licensed by the Georgia Department of Agriculture (“GDA”) will be permitted to grow and process hemp in the state. Note that licenses will not be issued by the GDA until final rules and regulations are in place. The GDA’s process of drafting rules and regulations began in July with the agency released proposed rules that are now open for public comments.

The proposed rules provide that licensees shall comply with specific testing, storage, recordkeeping and transportation requirements. For example, in Georgia, no licensed grower or processor may transport hemp without a hemp transportation permit issued by the GDA. Hemp may only be transported to permittees or to storage facilities owned by the licensees and listed on the licensee’s approved license application.

The proposed rules also address the manufacture of hemp products. Hemp product means “all products with the federally defined THC level for hemp derived from, or made by, processing hemp plants or plant parts that are prepared in a form available for commercial sale, but not including food products infused with THC unless approved by the United States Food and Drug Administration.” (Emphasis added).

Although the manufacture and sale of Hemp-CBD food is expressly prohibited – and reiterated in a May 10 press release issued by the GDA – the manufacture and sale of other Hemp-CBD products, such as smokables and cosmetics, is not clearly authorized nor restricted. However, the GDA’s proposed rules provide that “[n]othing in these Rules shall be construed as authorizing any person to violate any Federal law or regulation” and requires that licensed processors comply with the federal Food, Drug and Cosmetic Act and other rules and regulations related to product manufacturing, consumer safety and public health.

As this summary reveals, the proposed rules address the fundamental issues that surround the production of hemp but are vague on the manufacture and sale of Hemp-CBD products, with the exception of food. As the public comment period evolves, it will be interesting to see whether the GDA clarifies this issue and whether other state agencies, such as the Georgia Department of Health, provide additional guidelines on the production of these products.


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george scorsis

August 17, 2019
 

A growing number of cannabis companies - both ancillary and plant-touching - are creating internship programs for college students and graduates whom the firms hope will eventually become full-time employees.

Internships allow marijuana companies to ‘grow talent from within’ is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Aphria

August 16, 2019
 

It’s been an eventful week for German medical cannabis distributor Iuvo Therapeutics. First, the Neuss-based company received its first international shipment of dry cannabis flower from Canada-based TerrAscend. Then, Iuvo Therapeutics announced it was being acquired by London-based cannabis firm Wundr Co. “In the upcoming weeks – and together with our new team from Wundr – Iuvo will continually scale up

Germany gains new supplier of medical marijuana flower is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

August 16, 2019
 

Missouri is giving businesses that want to run medical cannabis facilities more time to file applications. The state’s Department of Health and Senior Services extended the deadline until 4:30 p.m. Monday. The deadline was scheduled to end Saturday. Director Randall Williams said in a statement that the agency learned during the early days of accepting

Missouri extends medical marijuana license application timeline is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

August 16, 2019
 

Given the skyrocketing demand for cannabis and its newly found legitimacy, we anticipate increased government scrutiny and a need for more testing.

As cannabis industry grows, opportunities in testing rise is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

August 16, 2019
 

A law was introduced in the Barbados House of Assembly to establish the legal foundation for a local medical marijuana industry. If the law is adopted, Barbados will join other Caribbean countries Jamaica, St. Vincent and the Grenadines as well as Antigua and Barbuda in approving cannabis cultivation. A law is also in the works in Saint Kitts and Nevis. The

Barbados latest Caribbean country to propose sweeping medical cannabis law is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

August 15, 2019
 

A Fairbanks dispensary is moving closer to becoming the first in the city where on-site consumption of cannabis is permitted. The Fairbanks City Council voted unanimously on a measure that allows consumption at The Fairbanks Cut, once it gets a certificate of occupancy, according to the Daily News-Miner. It can take several weeks to a

Fairbanks, Alaska, approves first marijuana consumption site in city is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Liberty Health Sciences

August 15, 2019
 

California’s marijuana market is poised for huge growth after a $500 million drop in legal sales in 2018, according to a wide-ranging report released Thursday. Key takeaways from the report released by Boulder-based BDS Analytics include: Legal marijuana sales slid to $2.5 billion in 2018 from roughly $3 billion in 2017 amid the transition to

Report: California cannabis market poised for growth is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis

August 15, 2019
 
Sundial Growers Inc (NASDAQ:SNDL) Generates $19.3 Revenue in Q2
Sundial Growers Inc (NASDAQ: SNDL) CEO Torsten Kuenzlen joins Midas Letter to discuss the company’s Q2 financial report, the associated company revenues, and its footprint within the cannabis industry. This is Sundial’s inaugural quarterly earnings release as a public company following its listing on the NASDAQ stock exchange on August 1, 2019. The CEO states that “with over $20 million in gross revenue, that places us among the larger players.” Mr. Kuenzlen is working hard to grow the company to compete with the larger players starting with the completion of its initial public offering and the recent Bridge Farm acquisition subsequent to the second quarter. Bridge Farm is a producer of ornamental plants, flowers and herbs in the United Kingdom. This international acquisition allows Sundial access to marketshare in Europe. Sundial are concentrating on three areas internationally in which they call “Heal, Health and Play”; Heal: operating within the medical cannabis space, Health: the global health and wellness CBD opportunity, and Play: the company’s recreational adult-use product-line. Watch the full interview to hear everything the Sundial CEO has to say about the company’s financials and the latest company developments. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

george scorsis

August 15, 2019
 

Arizona-based Harvest Health & Recreation, a major multistate operator, reported revenue of $26.6 million for the second quarter, a 153% jump from the $10.5 million booked in the same period last year. Net loss for the second quarter, ending June 30, totaled $20.6 million compared with net income of $2.83 million for the same period

Harvest Health & Recreation reports improved marijuana revenue, net quarter loss is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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addiitional information, George Scorsis

August 15, 2019
 
Cannabis News August 15th - Canopy Growth, Truelieve, Harvest, Aurora & more
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more info, George Scorsis

August 15, 2019
 

 

cannabis patent litigation claim construction

 

In following the progress of the first-ever cannabis patent litigation case, United Cannabis Corporation v. Pure Hemp Collective, Inc., the parties are now in a special phase of patent litigation called “claim construction.” Claim construction is specific to patent cases, and it’s the process of deciding what the various terms of the asserted patent claims actually mean. Claim construction is generally where most cases are decided.

The process begins when the parties actually go through the claims and propose their definitions to each other. Typically, the parties will end up agreeing on a lot of the terms so that the Court only has to decide a few things (which the Court usually appreciates). Then, the parties will prepare briefs and advocate their own meanings at a hearing. That hearing is called a “Markman hearing” (after the Supreme Court case that created this process), and it usually requires each side to present experts, scientists, demonstratives, and technological tutorials to ascertain the appropriate meaning of relevant key words used in the patent claim. Although Markman hearings can occur at different times in different cases, they generally occur during discovery and well in advance of trial.

Here, the parties dispute just two terms: “cannabinoids” and “infused in a medium chain triglyceride (MCT).” Let’s discuss the parties’ arguments concerning “cannabinoids”:

The patent claim includes the phrase, “at least 95% of total cannabinoids,” and Pure Hemp argues that “cannabinoids” should be interpreted as cannabinoid content – a term to describe different amounts of cannabinoids, and to describe how to calculate cannabinoid content as a percentage. On the other hand, UCANN argues that “cannabinoids” should simply be construed as “more than one cannabinoid.” This is a small, technical, but really important distinction to make because Pure Hemp’s proposed interpretation would really limit what UCANN is attempting to claim as its own.

After the parties present their interpretations, the Court will decide how to construe the patent claims at issue by undertaking the following process:

  1. Read the claims at issue.
  2. Read the “written description” of the patent specification, and any drawings if they exist.
  3. Consider which terms of the claim are at issue or in dispute as to its meaning.
  4. Read the other claims in the patent to obtain a holistic understanding.
  5. Read the prosecution history if it exists.
  6. Consider any other objective evidence of the meaning of claim language that is available – specification, prosecution history, ordinary/dictionary meaning, evidence that a specific term means something different to a person having ordinary skill in the art (“POSITA”).
  7. Understand the invention that is described in the specification.
  8. Determine what the claims objectively disclose to the POSITA as to what the inventor actually claimed (whether or not that objective meaning corresponds to the invention that was just determined to be disclosed in the specification and without regard to how that objective meaning will affect validity or infringement).

For each term, the judge can adopt either party’s definition or neither party’s definition. Regardless, once the Markman opinion issues, it’s often clear whether the patent is valid and if the defendant is liable for infringement.

In our case, the parties jointly requested a Markman hearing in mid-June. On July 15, 2019, the Court issued an order denying their request, and indicated: “Having reviewed the claim construction briefs, the Court finds that no evidentiary hearing is necessary to resolve the parties’ disputes … the Court will resolve the claim construction dispute in due course.” We’ll continue to monitor the docket and provide an update on how the Court rules as soon as we can. Previous updates on this case can be found here, here, here, and here.


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George Scorsis Liberty Health Sciences

August 15, 2019
 

When Nicole Elliott was appointed senior adviser on cannabis in California Gov. Gavin Newsom's Office of Business and Economic Development in February, many in the state's marijuana industry cheered.

‘Long process that is nowhere near perfect’: Q&A with California cannabis czar Nicole Elliott is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Aphria

August 15, 2019
 

This past week saw the second-highest amount of money raised through equity in three months in the North American cannabis industry - even as merger and acquisition activity slowed to a complete halt.

Deal Watch: Equity raises highest in three months; M&A activity slows is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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additional info, George Scorsis

August 14, 2019
 

The world’s largest marijuana company, Canopy Growth, on Wednesday reported improved revenue in its latest quarter, but its losses widened substantially from the same period a year ago. Smiths Falls, Ontario-based Canopy saw revenue rise 250% in the first fiscal quarter of 2020 to 90.5 million Canadian dollars ($67 million) compared with the same period

Marijuana giant Canopy’s revenues soar, but losses widen is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

August 13, 2019
 

Acreage Holdings, a New York-based multistate marijuana operator, on Tuesday reported net quarterly revenue of $17.7 million for the three months ended June 30, up more than five times from the same period last year. Net loss totaled $33.9 million for the company, which is due to be acquired by Canadian cannabis giant Canopy Growth

Acreage reports improved cannabis revenue, net loss for quarter is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Liberty Health Sciences

August 13, 2019
 
Tristar Gold, Halo Labs, Hong Kong Protests Effecting Gold - Midas Letter RAW 234
Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis

August 13, 2019
 

Sales growth rates play a huge role in determining the value of a cannabis investment. However, growth analysis is rarely a clean or simple task.

What cannabis sales growth rates may be hiding is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Liberty Health Sciences

August 13, 2019
 

High Times, the cannabis media group, is partnering with creative industry awards organization Clio to launch Clio Cannabis, a marketing and advertising awards competition. Clio started in 1959 and hosts numerous awards competitions in industries such as sports, fashion, music, entertainment and health. Nominations for the Clio Cannabis awards begin Aug. 26. High Times, which

Clio, High Times partner to launch cannabis marketing awards is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

August 13, 2019
 

While medical marijuana is legally available in 36 states and Washington DC, the fragmented nature of the industry – each state creates its own set of rules – means each market grows at a different rate. The new quarterly release of the Marijuana Business Factbook presents updated profiles of each state market, highlighting the growth

Chart: Medical marijuana markets expanding at varying rates, with Oklahoma, Florida setting the pace is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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george scorsis

August 12, 2019
 

With so much misinformation on the internet about CBD oil, one of the most common questions we get from consumers is in regards to the difference between CBD from marijuana vs CBD oil from hemp.

First, let’s look at the basic differences between marijuana and CBD hemp oil. 

Marijuana vs. CBD Oil from Hemp

CBD Hemp Oil:

  • High levels of CBD
  • Federally legal
  • Non-intoxicating
  • Can be purchased online or in stores

Marijuana:

  • High levels of THC
  • Legal only in certain states
  • Intoxicating
  • Available from dispensaries only

Despite these important differences, many prospective cannabis consumers are surprised by the number of similarities between hemp and marijuana. However, the resemblance should come as little surprise, since both hemp and marijuana are versions of the Cannabis Sativa L. plant. As we dig deeper into the two types of cannabis plants, we begin to see how they can each play a role in the use of cannabis.

What is Marijuana?

Marijuana is a cannabis plant that is most frequently harvested for its euphoric, intoxicating properties, which are responsible for making users feel high or stoned. The fibers and stalks of marijuana are not used commercially. Instead, the marijuana plant is cultivated specifically for its flowers, which contain the highest levels of THC in the plant. 

To maximize THC levels in marijuana, it’s often grown indoors so that conditions like light, temperature, and humidity can be closely monitored. Any male marijuana plants are removed to prevent the female plants from becoming fertilized, which lowers the plant’s concentration of THC. When compared to hemp, which grows tall, marijuana grows shorter and bushier with lots of flowers. Though, some variation does exist. 

Through selective breeding, varieties or strains of marijuana can contain THC concentrations that usually range from 10 percent to 30 percent, or even higher. Marijuana is naturally lower in CBD than THC – though some breeders have worked to increase the amount of CBD produced by some marijuana plants.

Since marijuana contains high levels of THC, use and possession of marijuana, whether for recreational or medical reasons, remains federally illegal in the U.S., although states have passed laws that have legalized marijuana use under certain conditions.

What is Hemp?

Hemp is a cannabis plant that is harvested commercially for its seeds and stalks. Hemp seeds and stalks are used to produce a number of products: including food, nutritional supplements, medicine, body care products, paper, textiles, building materials, plastic composites, and even biofuels. Depending on which parts of the plant hemp oil is made from the amount of CBD will vary, producing everything from nutritious hemp foods to hemp seed oil to rich CBD oil.

Because it thrives under natural conditions, hemp is typically grown outside, with both male and female plants sown closely together to encourage wind pollination and increase seed production. The hemp plant grows sturdy and tall, up to 2 to 4 meters in height, without the need for herbicides or pesticides.

For cannabis to be legally considered hemp, it must contain no more than 0.3% tetrahydrocannabinol (THC) per dry weight. THC is the active compound in marijuana that causes its euphoric effect. The level of THC in hemp is 33 times less than the least potent marijuana strains, so it’s impossible for hemp to get a user “high.”

Unlike marijuana, hemp is naturally higher in cannabidiol (CBD), one of over 100 cannabinoids that have so far been identified in the cannabis plant. CBD is non-intoxicating and therefore won’t cause a high, making it safe for use by anyone, regardless of age.

You can learn more about the difference between CBD and THC on our Cannabis 101 page.

Should I Buy CBD from Hemp or Marijuana?

One of the misconceptions about CBD hemp oil products is that CBD from hemp oil is less potent than cannabis oil or CBD oil made from medical marijuana. While it is true that the percentage of CBD in hemp plants by dry weight is lower than the percentage of CBD in some specially bred marijuana plants, once the oil is extracted from the plant, this difference becomes negligible.

However, hemp cultivars (varieties) also grow much faster than marijuana, so while an intensively bred high-CBD medical marijuana strain would take a full season to grow, a hemp farmer can create a more environmentally sustainable and conscious product. 

While it has been warned that hemp is a bioaccumulator (absorbs and collects contaminants), it needs to be noted that all cannabis plants, including marijuana strains, are bioaccumulators. A marijuana crop grown with poisonous pesticides or fertilizers is more dangerous to a consumer than a cleanly grown hemp crop, and with minimal regulations in many legal marijuana markets, there is no guarantee that marijuana bought from dispensaries is healthy to use. Recently in Colorado, there have been a number of recalls for marijuana grown with dangerous, unapproved pesticides.

This is the precise reason that Medical Marijuana, Inc.’s CBD hemp oil is grown free of chemical fertilizers, herbicides, and pesticides and extracted using a supercritical CO2 process regarded by the FDA as safe. Our hemp oil is also Triple Lab Tested® during our cultivation, extraction, and manufacturing processes to ensure our oil’s quality and protect the health of our customers.

Some cannabinoid users also get caught up with the idea that CBD hemp oil is made from “industrial hemp”, a point we have addressed before. There is nothing inherently dirty about industrial hemp, and as mentioned above, products made from hemp oil have the potential to be cleaner and purer than medical marijuana products.

On a molecular level, CBD from hemp is the same as CBD from marijuana. Franjo Grotenhermen of the International Association for Cannabinoid Medicines has been quoted saying, “CBD is CBD. The human body does not care where the molecule comes from.” Water makes a good analogy here. As far as your body is concerned, an H2O molecule is the same, whether it comes from a rushing river or out of your kitchen tap. In the same vein,10 mg of CBD from hemp oil is absorbed the same as 10 mg of CBD that you’d find in a marijuana dispensary. And just like with river water and tap water, neither hemp or marijuana is guaranteed healthier than the other, and much depends on outside factors, making our independent Triple Lab Tested® process all the more critical to the safety of our customers.

Finally, the entourage effect, mentioned in Sanjay Gupta’s CNN special Weed, emphasizes the need for a range of cannabinoids and other compounds in cannabis in order to be effective. The fact is that hemp, like marijuana, contains measurable amounts of a number of terpenes and cannabinoids, including CBD and THC. However, the levels of THC in hemp oil are low enough not to be intoxicating, making hemp a legal, more viable alternative for many to high-THC marijuana.

Because CBD hemp oil products are legal in all 50 states, they fill an important role for those who can’t access marijuana in their state. CBD hemp oil is also an alternative to marijuana for those who are interested in using CBD but are looking to avoid the negative effects of psychoactive THC.

Types of CBD Oil Products Available

Now that you know the difference between CBD oil and marijuana, let’s take a look at the types of CBD products you can buy. Medical Marijuana, Inc. brands like Real Scientific Hemp Oil™, Dixie Botanicals®, and HempMeds® include innovative CBD products like pure CBD oils, CBD capsules, CBD liquids and tinctures, CBD vapes, and more.

All of our products are made using our non-GMO hemp oil, extracted using safe CO2 and Triple Lab Tested® to ensure quality and safety in all our CBD products. You can learn more about how we make our top quality CBD oil products here.

You can find more about our line of CBD products by clicking on the links below:

You can shop the complete line of CBD products from Medical Marijuana, Inc. now by visiting our online CBD store.

Learn More

With so much contradicting information available online, it is important for consumers to do their own research from trusted sources. To see if low-THC, high-CBD hemp oil is right for you, visit our education page.


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george scorsis

August 10, 2019
 

beto orourke marijuana cannabisEach Saturday, we have been running a series of blog posts that take a close look at each of the Democratic Party candidates for President in 2020. We examine each candidate’s historic approach to marijuana law and policy, and we also canvas their current respective stances on marijuana.

Over the past six weeks, we covered Joe BidenBernie SandersKamala Harris, Elizabeth Warren and Pete Buttigieg and Corey Booker.  Today, we turn to former Texas Congressman Beto O’Rourke.

Grade: A+

Stance on marijuana: Beto O’Rourke has advocated for legalization of marijuana for almost a decade. As stated on O’Rourke’s website, if elected, he would end cannabis prohibition and expunge the arrest records of those incarcerated for possessing it. O’Rourke has criticized the War on Drugs for fueling violence at the border and, more recently, for disproportionately harming people of color.

History: O’Rourke first started his advocacy for marijuana legalization while on the El Paso City Council. In 2009, O’Rourke called for an “honest, open national debate on ending the prohibition on narcotics” as a possible solution to the violence at the US-Mexico border. Later, O’Rourke clarified that he had intended to start a discussion about marijuana which he now knows is not a narcotic. Aside from his misinformation, O’Rourke’s openness to legalizing marijuana in 2009 is impressive, especially considering most of his fellow Democratic presidential candidates only just came out in support of legalization within the past couple of years. In 2011, O’Rourke followed up by publishing a book about the failure of the War on Drugs in which he explained why the cannabis conversation was necessary:

I knew we were addressing a taboo topic, one that conventional wisdom dictated that only potheads, hard-core libertarians and political suicides ever brought up. But I also knew that Juarez [Mexican city directly South of El Paso] had gone beyond the pale and it was time to place all options on the table, even those that had been unthinkable, for me as well as others, just a year ago.

In 2014, O’Rourke kicked off his career in the House with a letter asking President Obama to deschedule, or at least reschedule, cannabis. In the same year, he expressed support for the regulation and taxation of marijuana as a means of eliminating the dangerous black market. Over the course of his career in the House, O’Rourke went on to cosponsor six bills that if passed would have legalized marijuana at the federal level. He also cosponsored bills intended to protect legalization states, help cannabis businesses access banks, and allow students to keep federal aid despite a cannabis possession conviction.

Conclusion: O’Rourke receives an “A+” grade because he has been dedicated to legalizing marijuana and ending the War on Drugs since long before he ran for president. His call for a discussion of marijuana in 2009 clearly shows O’Rourke is not simply pro-legalization to win over voters. O’Rourke genuinely believes in legalizing marijuana because he saw the consequences of its prohibition in his hometown of El Paso. We are confident that a President O’Rourke would fight hard to legalize cannabis and for that we give him an A+.


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George Scorsis

August 09, 2019
 

Toronto-based Sol Global Investments, which is increasingly focusing on the U.S. cannabis market, is changing its name to Bluma Wellness as part of a rebranding strategy. Bluma is an ancient Hebrew word meaning to flower, bloom or blossom, according to the company. This not the first name change for the company. In 2018, the firm

Marijuana company Sol Global to rebrand with new name is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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george scorsis

August 09, 2019
 

The independent auditor for Canadian marijuana company CannTrust has taken the uncommon step of withdrawing its report on the Ontario company’s financial statements for the quarter ending March and full-year 2018. It’s the latest blow amid an ongoing scandal involving unlicensed marijuana cultivation by CannTrust that has cast a dark cloud across Canada’s cannabis industry.

Auditor withdraws cannabis firm CannTrust’s financial report amid controversy is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis Liberty Health Sciences

August 09, 2019
 

Florida regulators are allowing a second medical marijuana company, Atlanta-based Surterra Wellness, to exceed the statutory cap of 35 dispensaries per company. State health officials will allow the company to open six more medical marijuana dispensaries after Surterra sued in response to a health department ruling allowing competing MMJ company Trulieve to exceed the limit,

Second Florida medical cannabis company gets OK to exceed dispensary cap is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Aphria

August 09, 2019
 

Medical marijuana businesses in Michigan soon will face a new licensing fee structure that will increase renewal costs for large growers but lower them for dispensaries. The tiered pricing structure for the state’s 250 MMJ businesses will go into effect Oct. 1, according to Mlive.com. “We want to make the fees reasonably related to the

Michigan medical cannabis businesses to pay tiered license fees is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

george scorsis

August 09, 2019
 

A Nevada company has won a one-year contract estimated at $517,319 to review and score the medical marijuana business applications in Missouri. The selected company, Wise Health Solutions, is a joint venture between Nevada-based firm Veracious Investigative and Compliance Solutions of Nevada as well as cannabis college Oaksterdam University in Oakland, California, according to KMIZ, a

Nevada company wins $500K contract to review Missouri’s medical cannabis applications is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis Aphria

August 09, 2019
 

Massachusetts-based Curaleaf was fined $250,000 for failing to disclose a change of ownership structure related to its cannabis operations in the state. The fine relates to Curaleaf Massachusetts changing its status from non-profit to for-profit but not detailing additional changes as parent company Curaleaf started trading on the Canadian Securities Exchange (CSE), according to MassLive.com.

Curaleaf fined $250K for Massachusetts marijuana ownership snafu is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

August 09, 2019
 

Many people think owning and operating a cannabis business is a dream job. The reality is that any dream job can quickly become a nightmare when your business gets pulled into a dispute. Failing to resolve disputes early can be shockingly expensive. Discovery — of documents and by depositions — is usually costly, and risky too. For example, a court recently fined a company $50,000-a-day for failing to produce all the voluminous documents its opponents demanded.

Canna Law Blog is hosting a free webinar on August 14th to discuss cost-effective solutions to keep your cannabis business out of court. “The Top 12 Alternative Dispute Resolution Strategies” will include personal success stories and testimonies from cannabis litigation attorneys John Rapp (WA and NY), Jihee Ahn (OR and CA), and Jesse Mondry (OR and MN). These experienced dispute resolution attorneys will break down the path most disputes follow and give you the tools you need to effectively manage disputes as they occur.

This webinar will also encourage audience questions. Bring your “real world” experience to the conversation and our legal team will provide you advice and knowledge to help you run your business conflict-free. You can send your questions in advance when you register here today. Hear the answers when you join us at 12:30 PST on Wednesday, August 14th.


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George Scorsis website

August 09, 2019
 

hemp cbd fda securities curaleaf litigation

Just a few weeks ago, Curaleaf Holdings (“Curaleaf”) announced that it would pay $875 million, mostly in stock, to acquire a Chicago based cannabis company, Grassroots. (See here.) This followed news in May that Curaleaf had reached a nearly $1 billion all-stock deal with one of Oregon’s biggest cannabis companies, Cura Partners, Inc. (See here).  These deals made Curaleaf one of the world’s largest marijuana companies, if not the largest.

Not much later, Curaleaf found itself on the wrong side of the FDA with respect to health claims Curaleaf had made about its CBD products. As this CNBC report explains,

The FDA told the cannabis company earlier this week that it was ‘illegally selling’ CBD products with ‘unsubstantiated claims’ that the products treat cancer, Alzheimer’s disease, opioid withdrawal, pain and pet anxiety.”

The article explains that in response to the FDA warning letter, Curaleaf (wisely) scrubbed its website and social media accounts of health claims about its CBD products. How and why a company of this size was making these types of claims in the first place, however, is truly puzzling.

We have written extensively about the FDA’s increasing intolerance for companies making “over the line” health claims about CBD and warned that retailers ought to be concerned about selling hemp-derived CBD in cosmetics. Yet everywhere our CBD business lawyers go, including in our Washington, Oregon and California offices, we see products extolling the benefits of CBD for nearly any kind of ailment – whether it affects adults, children, or pets. Although the FDA’s enforcement against businesses making health-related CBD claims has not been universal, that doesn’t make its warning letters without force as Curaleaf has learned. (Even if consumers don’t appear overly concerned.)

As a result of its claims about CBD and the subsequent warning from the FDA, Curaleaf now finds itself on the wrong side of a class-action securities complaint that was filed on August 5 in the Eastern District of New York, Michael Skibbe v. Curaleaf Holdings, Inc. et al., No. 1:19-cv-04486. The complaint alleges violations of Sections 10(b) and 20(a) of the Exchange Act, and Rule 10b-5 promulgated by the SEC. (Feel free to email me if you’d like a copy of the lawsuit).

The gravamen of the lawsuit is that Curaleaf violated federal securities law by making knowingly making materially false and misleading statements to the investing public that artificially inflated the market price of Curaleaf securities. The complaint quotes liberally from Curaleaf’s press releases and audited financial statements concerning its line of hemp-based CBD products.  These include statements such as:

CBD has been shown in initial third-party studies to support a pet’s overall wellness including the potential to help manage pain and anxiety.

Our human customers are already reaping the benefits of CBD with Curaleaf Hemp. The same care and research went into the development of Bido. We are excited to be extending our high quality, trusted products to pet owners,” said Joe Lusardi, President and Chief Executive Officer of Curaleaf. “The launch of Bido is just one more way we are the most accessible cannabis company in the U.S.”

These statements and others drew the ire of the FDA. The FDA letter warns Curaleaf that some of the CBD products it sells are classified as “drugs under section 201(g)(1) of the FD&C Act, 21 U.S.C. 321(g)(1), because they are intended for use in the diagnosis, cure, mitigation, treatment, or prevention of disease and/or intended to affect the structure or any function of the body.” The FDA letter goes on to say that Curaleaf is wrongly marketing CBD products as “dietary supplements . . . because they do not meet the definition of a dietary supplement under sections 201(ff)(3)(B) and 201(ff)(2)(A)(i) of the FD&C Act, 21 U.S.C. 321(ff)(3)(B) and 321(ff)(2)(A)(i).” And finally, the FDA letter takes issue with Curaleaf’s marking of “Bido CBD for Pets” line of products.

The FDA letter, says the complaint, caused damage to investors when shares of Curaleaf fell 7.27% on July 23, 2019. The plaintiffs now seek to represent a class of “all person other than defendants who acquired Curaleaf securities” between November 18, 2018 and July 22, 2019 with damages to be calculated at trial. Will this lawsuit mark the end of Curaleaf? Probably not, but my guess is that Curaleaf won’t get rid of it for pennies.

Once again:  regardless whether your company is publicly traded, your company is at risk if you are making claims about the therapeutic value of CBD products. Setting aside Curaleaf, companies making health claims about CBD may be subject to claims arising under state laws prohibiting unfair and deceptive trade practices, or under the federal Lanham Act for false and misleading advertising, or even run-of-the mine personal injury claims allegedly caused by your product.

So ask your hemp-CBD regulatory attorneys to review your marketing and merchandising materials before you find yourself on the wrong side of a lawsuit. And take their advice! Curaleaf probably wishes it had done exactly that.


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George Scorsis website

August 09, 2019
 

Sales begin in the long-delayed Louisiana medical marijuana market, MJ-infused product brand Dixie signs a licensing deal with Arizona Iced Tea’s parent, a New Mexico judge’s ruling could open MMJ sales to out-of-state patients – and more of the week’s top cannabis business news. MMJ sales begin down on the bayou After years of waiting,

Week in Review: Louisiana medical marijuana kickoff, Dixie-Arizona Iced Tea team, NM reciprocity & more is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Liberty Health Sciences

August 09, 2019
 

Years after legalization, supply issues continue to hinder the growth of the adult-use marijuana market in Uruguay, according to a new report by the Institute for the Regulation and Control of Cannabis (IRCCA). According to the Uruguayan cannabis regulatory agency, as of July 31, 47,810 people were registered to legally access recreational marijuana in Uruguay using one

Report: Supply issues lead to declining sales in Uruguay’s recreational cannabis market is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

August 08, 2019
 

New Jersey lawmakers may take one last stab at legalizing recreational marijuana. “I’m not going to give up trying,” state Senate President Stephen Sweeney told NJ.com. “We’ll make one more run at it,” the Democrat told the publication. Sweeney, a longtime MJ backer, pulled the plug on the effort in May when it became obvious

Key New Jersey lawmaker: Legislature may try again to legalize adult-use cannabis is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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August 08, 2019
 

Visions dance in the heads of key players of entire aisles in grocery stores and pharmacies dominated by marijuana and hemp products. Behind that, of course, there are visions of dynastic wealth.

How to avoid fantasy valuations in cannabis is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Aphria

August 07, 2019
 

Thrive Capital Management, an investment company whose founder has ties to the Trump administration, is set to invest in the marijuana industry for the first time, leading a $35 million funding round for online cannabis inventory and ordering platform LeafLink. New York-based Thrive was founded in 2009 by Josh Kushner, whose brother, Jared Kushner, is a

Thrive Capital to invest in marijuana company LeafLink is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Aphria

August 06, 2019
 

Because of the rapidly evolving legal and regulatory environment at the federal and state levels, barriers to entry play a huge factor in the cannabis industry.

Barriers to entry present benefits, risks for marijuana investors is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

August 06, 2019
 

Columbia Care, a New York-based multistate cannabis operator, reported revenue of $19.3 million for the second quarter ended June 30, up from $9.6 million in the same period last year. Net loss for the period was $33.7 million, compared with a loss of $4.2 million in the second quarter of 2018. The company said the

Columbia Care reports higher marijuana revenue, bigger losses is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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george scorsis

August 06, 2019
 

In a development that could boost the medical marijuana market in New Mexico, a district court judge ordered the state to begin issuing cards to qualified MMJ patients regardless of where they live. The crux of the issue, according to NM Political Report, is a change in the state’s medical cannabis law that generically defines a

Judge rules New Mexico must open medical cannabis market to nonresidents is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

August 06, 2019
 

Marijuana Business Daily and Toronto-based Lift and Co., a publicly traded cannabis technology company, on Tuesday announced they will collaborate on MJ conferences in the United States and Canada. The partnership will kick off Sept. 4-6 at MJBizConINTL in Toronto. The companies’ first combined effort, at the Metro Toronto Convention Centre, will focus on the international

MJBizDaily partners with Lift & Co. for Canadian, US cannabis events is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

August 05, 2019
 

An Iowa state board added chronic pain as a qualifying condition to use medical marijuana, a development that should increase sales in the state’s heavily regulated market. Chronic pain generally tends to lead sales for medical conditions in many states. While approving chronic pain, the Iowa Medical Cannabidiol Board rejected anxiety disorder and opioid dependence

Iowa adds chronic pain for medical cannabis; sales boost expected is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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george scorsis

August 05, 2019
 

Prospective medical cannabis businesses began vying for 348 potential licenses in Missouri as the formal two-week application process got underway Saturday. More than 600 potential applicants already had prefiled facility application fees, according to the Missouri Department of Health. The lion’s share of those applicants were multistate operators and wealthy local individuals, according to a

Missouri starts taking applications for nearly 350 medical marijuana licenses is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Aphria

August 05, 2019
 

oregon hemp litigation lawsuit

As we predicted, litigation concerning hemp production continues to rise. At this point, it is the rare week that we do not see at least one new lawsuit on the state or federal docket– and that is just in Oregon. Given the extraordinary growth in hemp licensure and cultivation nationwide, it seems the courts will have their hands full for the foreseeable future with hemp industry litigation.

This post concerns a contract to purchase between 9,000 to 14,000 pounds of industrial hemp at $50 per pound. The Oregon state-court lawsuit, Boring Hemp Company v. Natural Health Resources, LLC, is simple enough: Natural Health, the purchaser-defendant,  picked up a load of industrial hemp from the producer’s (Boring Hemp) warehouse. Per the agreement, the purchaser transported the hemp to a certified scale in Oregon where the hemp was weighed – the load net weight was 10,240 pounds.  The terms of payment were “net 30 days” with a ten-day grace period and a 10% fee added to the balance if payment was not made within that period.  The complaint alleges the purchaser has not made any payments to the producer and the producer seeks to recover approximately $560,000 under breach of contract and unjust enrichment theories.  Run-of-the-mine stuff.

What is worth mentioning is the one-page “Hemp Purchase Agreement” between the parties. The agreement does not require the industrial hemp contain a certain percentage of cannabidiol (CBD). The agreement does not place any limitation on the moisture content of the hemp (an important term when you pay by the pound). The agreement does not make any reference to THC content, or “total THC” content, nor any other of the terms that hemp producers and purchasers ought to be thinking about such as testing, pesticide content, and so forth.

To be sure, a better contract may not have prevented non-payment for the hemp (though a better contract may have provided some form of security or other terms to lessen the chance that the purchaser simply decide not pay the producer). But we continue to be somewhat alarmed at the poor quality of the hemp production contracts we see.  For further reading on hemp production contracts, see below – and note that it may be no coincidence that the hemp contracts ending up in court are the poorly drafted ones.

Not only do many of the contracts we see lack what ought to be basic provisions, many hemp production contracts fail to account for the evolving federal and state regulatory environment – including those governing the growing, handling, processing, testing, and the manufacturing of hemp and CBD products. Feel free to email me if you’d like a copy of the complaint.


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George Scorsis Liberty Health Sciences

August 05, 2019
 

A likely yearslong delay in the launch of West Virginia’s medical marijuana program reflects the uncertainties cannabis entrepreneurs face when vying to enter certain conservative states. State officials blame the holdup on a struggle to provide banking services for the program. But the advocacy group Marijuana Policy Project recently noted that a leading federal prosecutor

West Virginia’s medical cannabis delays test patience of marijuana business owners is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Liberty Health Sciences

August 04, 2019
 

Updated August 2019

While adult-use marijuana is still outlawed in Iowa, penalties for possession are relatively relaxed compared to many other states. Iowa has yet to establish a comprehensive medical marijuana law or decriminalize recreational use, but did pass a “CBD only” low-THC medical cannabis law in 2014.

Recreational Marijuana in Iowa

Possession of any amount of recreational marijuana in Iowa is a misdemeanor. First-time offenders can be jailed for 6 months and forced to pay a maximum fine of $1,000. Second and third possession offenses are also charged as misdemeanors, with incarceration of 1 year and 2 years and a maximum fine of $1875 and $6250, respectively. Possession penalties are also levied on individuals who are found with marijuana within 1,000 feet of a public park, elementary school, secondary school, or a school bus.

Offenders who are found to be chronic marijuana abusers may be sent for rehabilitation. If they successfully complete the program, the court can place them on probation.

Sale and distribution of any quantity of marijuana is a felony punishable by jail terms ranging from 5 years to 10 years and fines ranging from $7500 to $100,000. The state of Iowa has minimum mandatory sentences of up to 10 years for individuals who distribute marijuana to minors.

Medical Marijuana in Iowa

Medical use of marijuana is currently illegal in Iowa, punishable by the same penalties as recreational marijuana. The state does have in place, however, a low-THC cannabis program.

State lawmakers in 2014 originally only approved cannabis oil containing up to 3% THC for patients diagnosed with intractable epilepsy. In May 2017, the Iowa Legislature approved a measure that expands the current program so that it’s available for more conditions. To qualify as a patient for Iowa’s medical program, a patient must be able to prove permanent Iowa residency and provide physician certification.

Iowa’s law allows low-THC medical cannabis for the following qualifying medical conditions:

  • Amyotrophic Lateral Sclerosis (ALS)
  • Autism
  • Cancer (If the illness or its treatment produces one or more of the following: severe or chronic pain, nausea or severe vomiting, cachexia or severe wasting.)
  • Chronic Pain
  • Crohn’s Disease
  • HIV/AIDS (as defined in Iowa Code, section 141A.1)
  • Multiple Sclerosis with Severe and Persistent Muscle Spasms
  • Parkinson’s Disease
  • Seizures
  • Severe, Pediatric Autism with Aggressive or Self-Injurious Behaviors
  • Untreatable Pain
  • Any Terminal Illness (With a probable life expectancy of under one year – if the illness or its treatment produces one or more of the following: severe or chronic pain, nausea or severe vomiting, cachexia or severe wasting)

For years, it had remained illegal to manufacture or distribute cannabis oil in the state and federal law prohibits its transportation across state lines, which makes it essentially impossible for Iowans to legally obtain the product. In November 2018, however, lawmakers, advocates, and state officials gathered in Des Moines to celebrate the grand opening of the state’s first medical cannabis manufacturing facility. Qualified patients will be able to buy low-THC cannabis oils, capsules, and topicals at the state’s five licensed dispensaries beginning December 1, 2018.

Consumption of CBD from Hemp Oil in Indiana

Hemp-derived CBD products are legal under Federal Law in the United States; however, individual state laws are dynamic and fluid. Individual states may enact their own laws governing hemp-derived CBD.

Cultivation of Cannabis in Iowa

The cultivation of marijuana in Iowa is a felony punishable with up to 25 years of imprisonment and up to $1000,000 in fines. Soliciting a minor to cultivate marijuana can lead to a minimum mandatory sentence of up to 10 years.

In May 2019, following the federal legalization of hemp with the passage of the 2018 Farm Bill, Gov. Kim Reynolds signed into law legislation that gives Iowa farmers the option of growing hemp. Under the new Iowa Hemp Act, licensed growers can cultivate the crop on up to 40 acres. The new program is expected to launch in time for the 2020 planting season, but the Iowa Department of Agriculture and Land Stewardship must first develop a plan and get it approved by the U.S. Department of Agriculture.

Sources

DISCLAIMER: The information contained in this website is for general information purposes only; it does not constitute legal advice. Although we endeavor to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Therefore, any reliance you place on such information is strictly at your own risk.


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August 02, 2019
 

Cronos Group, a vertically integrated cannabis company based in Ontario, Canada, that has international production and distribution, said Friday it will buy four operating subsidiaries from Redwood Holding Group for $300 million. Redwood, which is headquartered in Los Angeles, produces, markets and distributes hemp-derived CBD products, including skin care, bath items and gummies, throughout the

Canadian cannabis firm Cronos spending $300 million to enter US hemp market is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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george scorsis

August 02, 2019
 

TerrAscend, an Ontario, Canada-based vertically integrated cannabis company, agreed to acquire Ilera Healthcare, a Pennsylvania-based marijuana cultivator, processor and dispensary operator for up to $225 million (CA$297 million). The total cost of the transaction will depend on Ilera reaching certain revenue and profitability targets. For now, TerrAscend is set to pay $25 million in cash and

Canada’s TerrAscend looks to snap up US marijuana firm Ilera for up to $225 million is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

August 02, 2019
 
James West Returns, Charting Man Dan, RavenQuest BioMed - Midas Letter RAW 228
Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

additional info, George Scorsis

August 02, 2019
 
Charting Man Dan Mc Dermitt - Aphria, Canopy Growth, Charlotte
See more from Dan and the Chart Guys at the chartguys.com ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis website

August 02, 2019
 

A new law went into effect Aug. 2 that permits Colorado doctors to recommend medical marijuana in lieu of opioids, a development that could boost MMJ sales in the state. In 2017, 3.7 million opioid prescriptions were issued in Colorado, according to the state’s drug-monitoring program. State health officials reported 1,635 overdose deaths caused by

Colorado now allows medical cannabis as alternative to opioids is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

August 02, 2019
 

Brazilian health regulators are weighing a landmark plan to permit the domestic cultivation of marijuana and the registration of medical cannabis products that have not yet completed clinical trials, a move that would open a potentially huge market to MJ companies from around the globe. But the proposed rules have encountered stiff opposition from a

Brazilian health regulators mull plan for cannabis cultivation and products, but proposal draws opposition is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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addiitional information, George Scorsis

August 02, 2019
 

oregon hemp total thc import export

A few weeks ago, we explained what Oregon’s “total THC” testing requirement is and why it matters from a contractual point of view. Today, we further explore this issue and discuss how it is affecting industry players’ ability to export and import hemp and hemp products to the Beaver State.

Back in 2018, Oregon law makers passed Senate Bill 1544 (later codified in ORS 475B),  which prohibits the exportation and importation of marijuana items in the state. “Marijuana items” means “marijuana, cannabinoid products, cannabinoid concentrates and cannabinoid extracts”, and includes “industrial hemp products and commodities that contain more than 0.3 percent tetrahydrocannabinol” (emphasis added).

Although the statutory language does not define “tetrahydrocannabinol,” it provides that the testing standards and processes addressed in the statute must comply with those adopted by the Oregon Health Authority (“OHA”).

The OHA testing rules are codified in OAR 333-007-0010 et seq.. Pursuant to OAR 333-007-0200(3), the concentration of THC permitted must take into account both the amount of Delta-9 THC in the product and the amount of tetrahydrocannabinolic acid (“THCA”) that if heated would convert THCA into THC.

As you know if you have been following our blog for a while, the Oregon Department of Agriculture (“ODA”) updated its testing rules to align with those adopted by OHA. Specifically, the ODA testing rules provide that finished hemp products or commodities, such as industrial hemp for human consumption, hemp items, usable hemp, and hemp cannabinoid products, must be sampled, tested, and reported in a manner consistent with the OHA’s marijuana sampling and testing rules. In addition, the ODA rules state that “[a] registrant may not sell an industrial hemp product that contains more than 0.3 percent total THC to a consumer….” (Emphasis added).

Accordingly, the importation and exportation by ODA registrants of hemp products and commodities exceeding 0.3 percent total THC is prohibited under Oregon law. But, according to the language of ORS 475B, ODA registrants are not the only ones that are barred from importing or exporting these products; “any person” must comply with this requirement.

This is problematic for many reasons.

First, requiring the total THC concentration not to exceed 0.3 percent is harmful to growers because it drastically limits the type of hemp strains they can cultivate. Limiting the strains with which growers may work creates an undue burden on an already challenging activity and places cultivators in a worse economic position than those in states that only require a Delta-9 THC compliance testing – without going into too much detail, it is easier to comply with a Delta-9 testing requirement.

Second, by prohibiting the exportation and importation of hemp and hemp products containing more than the 0.3 percent total THC, Oregon is reducing the number of hemp business opportunities within the state. Oregon growers and producers whose products exceed this THC limit, but satisfy the Delta-9 compliance testing, do not have the option of selling their products to states that have adopted the less stringent testing requirement. Also, out-of-state business players whose products meet the Delta-9 testing requirement are barred from entering the Oregon market.

Although Oregon has not taken enforcement actions regarding the importation and exportation of hemp and hemp product that contain more than 0.3 percent total THC, it is critical for hemp and CBD stakeholders in the state but also around the country to understand this issue and be cognizant of the fact that Oregon may not be, after all, the hemp-friendly state we all assumed it was.


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George Scorsis

August 02, 2019
 

Utah dismissed appeals from six companies that were denied licenses to grow medical marijuana, a move that at least temporarily keeps the program on track to launch next year. Utah’s Division of Purchasing announced the dismissal of the appeals just days after the July 26 deadline to file the challenges. Purchasing Director Chris Hughes said rejected applicants can

Utah rejects appeals from six would-be medical cannabis growers is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Liberty Health Sciences

August 01, 2019
 

Aphria on Thursday became one of the rare Canadian cannabis companies to report a net profit by posting record net revenues of 128.6 million Canadian dollars ($97.3 million) in its fiscal fourth quarter, a whopping 969% increase from a year earlier. Revenues also jumped 75% from the third quarter. As a result of the company’s

Aphria latest major Canadian cannabis company to turn a profit is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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more information, George Scorsis

August 01, 2019
 

foreign ownership investment cannabis

Our cannabis business attorneys see more and more deals where foreign individuals or companies want to invest in or acquire licensed cannabis businesses. It’s often easy for foreign companies to assume that because cannabis is state-lawful, it is similar to any other investment. This couldn’t be farther for the truth. Even for local companies, the cannabis industry is much different from any other industry.

But for foreign companies, the cannabis industry is filled with pitfalls and potential liabilities. Many of these can be resolved if foreign investors understand and prepare for the issues ahead of time. Below, I walk through some of the more pertinent issues that our cannabis attorneys see in deals with foreign investors on a fairly regular basis.

#1 Residency Requirements

One of the biggest problems for foreign investors is states that have residency requirements. Washington State, for example, requires that all cannabis business owners be residents of the state. An investment into or acquisition of a Washington-based cannabis company that renders foreign citizens (or even out-of-state) owners may jeopardize the license.

#2 Differences in Laws Between Jurisdictions

Another potential problem for foreign investors is the difference in laws in the US and their home countries. State-lawful cannabis activity here may still be a crime in a foreign investor’s home country. Even if it’s not, there may be a host of different laws in a person’s home country that don’t square with US cannabis laws. For example, there are onerous ownership disclosure requirements (that I’ll get into below), which could include shareholders or members in foreign companies. Certain laws in a foreign resident’s home country might not allow or might just put roadblocks in the way of compliance with US state-lawful cannabis regulations. And good luck explaining to a regulator that the laws of a foreign country don’t allow compliance with cannabis laws here.

#3 Ownership Disclosure Rules

One of the most important things for foreign companies or person to consider before investing in or acquiring a US-based cannabis company is the concept of “ownership” (which we recently wrote about here). All states that regulate cannabis have ownership disclosure requirements that are often very onerous and invasive and, in some cases, require disclosure up through all parent companies to actual persons.

These disclosure requirements can be immensely difficult to comply with for foreign, and even some domestic, cannabis companies or investors. It’s not always clear who is an owner, and equity in a company is usually not the only trigger for ownership. For example, California cannabis regulators consider LLC managers, corporate directors or officers, and anyone else who exercises direction, management, or control in a licensed entity to be owners. At least one California cannabis agency considers companies or people who are entitled 20% of the profits of a licensee to be owners. Even more significantly, if an owner is a company, then certain persons who own or run that company may be considered owners. For at least one agency, owners are required to disclose many different kinds of equity holders, directors, officers, and managers, all the way up the corporate chain.

#4 Financial Interest Holder Requirements

Like with owner disclosures, some states also require disclosures for certain classes of people who hold smaller equity interests in a cannabis company or who have less significant investment, loan, or profit-sharing relationships with those companies. In California, these people are called “financial interest holders”, and still have to disclose information to the state.

In California, financial interest holders are persons with less than 20 percent equity, as well as persons with loans to, investments in, or profit-sharing agreements of any kind in a cannabis company. There’s a number of exceptions, including that persons with less than 5 percent of the equity in a publicly traded company don’t need to be disclosed as financial interest holders. Just like with owners, if a financial interest holder is a company, it may need to disclose certain persons all the way up its corporate chain.

#5 Constant Reporting Obligations

State-lawful cannabis companies have constant reporting obligations throughout the life of their license. In California, almost any change (sometimes even seemingly insignificant changes) in the business needs to be reported to the applicable agencies within 10–14 calendar days. Other states are similar.

Monitoring reportable events is difficult for foreign companies. If they want to be fully compliant, they will need to either have US cannabis counsel or trust the licensee’s US-based counsel. Some things can be significantly challenging to report, like changes in financial interest holders. Take for example, a Canadian public company where shares may be constantly sold. Companies would need to constantly monitor transactions to ensure that new persons who acquire significant amounts of shares make disclosures within the tight timeframes set by the US state regulators.

Moreover, reporting is almost always the actual licensee’s obligation, meaning that an investor can’t actually communicate with agencies on the licensee’s behalf and will need to hope that the licensee actually makes disclosures after being provided with information from the investor. This can be frustrating for foreign companies who don’t actually have control over the licensee, so it is important to ensure in any kind of written agreement that the licensee meets its reporting obligations, and to spell out what happens if the licensee is penalized because it failed to make appropriate disclosures.

#6 Immigration Concerns

Being involved in the US cannabis industry can bar a person from entering the United States, obtaining a visa, or obtaining citizenship if they are here. We’ve written about cannabis immigration issues for foreign investors and owners in the past (see here, here, and here). It goes without saying that these are issues that must be considered in any deal. Failure to consider them before inking a deal could lead to disastrous effects and potential breaches that could have been avoided had the foreign investors consulted with US immigration counsel before inking the deal.

#7 Tax Issues

Cannabis is STILL illegal at the federal level in the United States. Internal Revenue Code Section 280E is a major roadblock for US-based cannabis companies and leads to extremely high taxes in most cases. Many foreign investors may not even be aware of some of the 280E issues, and there could be other problems in their home jurisdictions based on these high taxes.


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George Scorsis

July 31, 2019
 
Great Northern Brands, FED Rate Cut, Cannabis Financials - Midas Letter RAW 226
Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis

July 31, 2019
 

Seven Oklahoma medical marijuana dispensaries have sued Facebook, claiming the social media giant placed them in “Facebook Jail” for posting about their operations. The lawsuit by the Oklahoma dispensaries is the latest of a flurry of complaints by cannabis companies against Facebook and other social media sites, such as Instagram. “Facebook Jail” is when a

7 Oklahoma cannabis shops file suit, seek release from ‘Facebook Jail’ is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

July 31, 2019
 

A week after CannTrust Holdings fired its CEO over a scandal involving unlicensed marijuana cultivation, the Canadian producer hired a financial adviser to review “strategic alternatives,” including a possible sale of the company. CannTrust said an internal committee has retained Greenhill & Co. Canada to review how the company could proceed, with options including: A

CannTrust hires financial adviser to explore possible sale amid cannabis scandal is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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george scorsis

July 30, 2019
 

california cannabis marijuanaCommercial cannabis licensing in California kicked off on January 1, 2018. A few days later, former U.S. Attorney General, Jeff Sessions, rescinded all former Department of Justice guidance on federal enforcement of the Controlled Substances Act in states with legal cannabis. The industry reaction in California that day was all over the place, and chaos and uncertainty was in the air.

Interestingly enough, it’s safe to say that the chaos that commenced with initial licensing under the Medicinal and Adult-Use Cannabis Regulation and Safety Act (“MAUCRSA”) has never really abated. In a given day, I get a good amount of client and would-be client feedback opining that California is still “a mess” or dysfunctional when it comes to cannabis licensing. All state commercial cannabis markets take time to establish and settle out, though. California is no different, it’s just bigger. The imminent maturation (and consolidation) of businesses and more concrete and consistent enforcement from regulators is taking longer.

In any event, certain bad and/or bizarre behavior persists. If you’ve seen any of this activity out in the marketplace, you’re not alone. And hopefully most if not all of these seven deadly cannabis sins will abate as the market goes on.

1. Straight up unlicensed actors.

It’s no secret that California has a large illegal market problem. And maybe it always will given its size. However, we have multiple cities and counties in California that will not get on board with legalization, and these places are hotbeds for real drug dealers and criminal operators. In addition, in a place like the City of Los Angeles, you have a culture of persistence still that is more than happy to set up fly-by-night shops and delivery services only to be shut down and then re-open again and again. Luckily, the state has upped the ante on illegal operators with steep fines, penalties, and even potential jail time, but it’s going to be a hot minute before we eliminate even a small portion of the black market (if ever).

2.  The “collective hangover”.

Shockingly enough, our cannabis business attorneys in California still get calls from people who want to set up non-profit “collectives” under the Compassionate Use Act of 1996. Unless you’ve been living under a rock, you know that the “collective model” died on January 9 of this year, and it’s not coming back. Of course there are those folks who would still set up collectives anyway knowing that they’re violating the law, but this is one cannabis sin that should burn away pretty quickly for obvious financial and organizational reasons. And if you’re an investor and someone is still pitching you on investing in their non-profit collective in California or an attorney is telling you to set up a non-profit collective, you can safely flee from that proposition.

3.  Screwy M&A.

We have written a lot about California M&A on the blog. It’s not a straightforward situation because of state and local licensing laws and resulting changes of ownership protocol, but a ton of people are breaking state and local laws left and right through M&A in California. It’s only a matter of time before regulators catch on to people’s recklessness here, which will lead to license cancellations and a good amount of lost investment, but until then (because of inconsistent enforcement combined with buyer momentum), many cannabis businesses that have sold ownership interests are likely sitting on significant rule violations.

4.  Crappy legal advice.

Cannabis is still an emerging marketplace. And the fact that it’s federal illegal has still mostly kept the large, white-shoe law firms out of the scene (unless they form small practice groups to advise on things like employment and financing, which we see on occasion). This has led to a significant amount of legal hacks and newbies joining the industry holding themselves out as “legal experts” in the field. And don’t get me started on the volume of criminal defense attorneys that now claim to do legitimate business, corporate, and securities work. I’m constantly in receipt and reviewing legal work being produced in California relative to intellectual property licensing, M&A, inventory purchase agreements, distribution contracts, and a number of other transactions between licensees, and some of it is still terrifying coming from attorneys who are not competent in the area (in that they completely ignore applicable regulations) or unethical in their dealings altogether. Again, as the industry matures, the hope is that bad and unqualified actors fall by the wayside.

5.  Regulators shuffling the deck (at your expense).

It’s a common annoyance in the state legal cannabis industry where state regulators constantly change the rules or, more accurately, their interpretation of certain rules as time goes on (and you better learn “regulatory language” now to better deal with this issue). California, again, is no different. Our firm has had conversations with each state agency regarding change of ownership laws, distribution rules, testing requirements, the ability to return products, and other lucrative day-to-day licensee tasks where we literally get different answers almost every time we touch base. As industry issue arise and fall and the political powers change, so too will the state’s interpretation of its own rules. It’s not easy being a regulator, but I can promise you that the state agencies will eventually even out and remain fairly consistent with their rule interpretations (eventually).

6.  Local authorization headaches.

California is a local control state. This means that before you can get a state license, you have to secure local approval for your cannabis operation from your city or county. And each of the 482 cities and 58 counties in California is doing regulation or prohibition differently. Local authorization is no picnic. It seems that certain cities have really dragged out the process to no end, either flipping their position from allowance to prohibition or significantly changing the entitlement process at the expense of applicants. In some cases, third party litigation has halted commercial cannabis activity in cities that allow it (see El Monte). The City of Los Angeles is another prime example of municipal change in that it has navigated complex issues relative to three phases of local licensing and implementing a social equity program that it’s had to refine for months and months (as opposed to L.A. County, which commissioned a group to study the impacts of legalization and regulation and even has an Office of Cannabis Management, but still has a ban in place).

7.  No real banking options.

California’s regulations for its licensees are not super tough. There’s a lot of red tape, but the state as a whole isn’t as strict as it could be (when compared to other states) relative to owner and financier reporting requirements and just general day-to-day compliance issues (for example, we have no residency requirement and you can vertically integrate your licenses). This means that our rules probably aren’t the strongest to satisfy the 2014 FinCEN guidelines that enable cannabis banking, and this is why we don’t have really robust banking options in California. Thus, many cannabis companies still open management companies that secure phantom banking for the actual cannabis operations (which is a terrible idea because of 280E reporting to the IRS and for a number of other reasons). And if folks aren’t using these convoluted structures, they’re dealing in all cash, which is a major pain and public safety hazard.

A few of these hazards cannot be avoided right now in California, but most will go away with time as the market stabilizes. In the interim, compliance is king and that, alone, will help you avoid getting into most of the foregoing trouble.


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George Scorsis

July 30, 2019
 

Pennsylvania regulators revoked the permit of one of the state’s medical cannabis cultivators for allegedly violating production and security regulations. The action against Agrimed Industries comes roughly a month after a surprise state inspection found numerous violations that raised concerns that some plants may have been diverted to the illicit market, according to The Philadelphia Inquirer. Agrimed,

Pennsylvania regulators strip cultivator of medical cannabis license is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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george scorsis

July 29, 2019
 
Beleave Inc (CNSX:BE) Evolving Novel Brands for High Customer Demand
Beleave Inc (CNSX:BE) (OTCQX:BLEVF) CEO Bill Panagiotakopoulos joins Midas Letter for an overview of the company and what Beleave’s footprint is within the cannabis industry. Beleave are focused on growing craft, premium cannabis in their Hamilton, Ontario facility, which is undergoing its much-anticipated expansion. The company will add almost 100,000 square feet for increased cannabis extraction, processing, and cultivation. This expansion expects to generate approximately $50 million in annualized revenue with an average gross profit margin of 60 percent once fully operational. In early July 2019, Beleave commenced sales of cannabis oils for the Canadian adult-use market and are launching four new products this fall. The company is looking to take advantage of the evolving cannabis market expanding into the vape pen market and by introducing a novel water-soluble powder - allowing customers to add a dose-able, odourless ingredient to any form of consumable product. Currently, customers are enjoying Beleave's product offerings as the CEO expresses the company "can’t even keep up with the demand right now" as the company continues to work on satisfying their market and its customers. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis website

July 29, 2019
 
RavenQuest BioMed, Geomega Resources - Midas Letter 224
Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs o f all public companies and analysts with the highest reputations in the business. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

more information, George Scorsis

July 29, 2019
 
RavenQuest BioMed Inc (CNSX:RQB) Expanding Industry Disruptive Growing Technology
RavenQuest BioMed Inc (CNSX:RQB) (OTCMKTS:RVVQF) (FRA:1IT) CEO George Robinson joins Midas Letter to discuss the company's 'Orbital Gardens' and the advantages of using the rotational growth technology on a large scale. The RavenQuest Orbital Garden allows for production of large quantities of cannabis in smaller areas by maximizing the productivity of grow space and lighting. The technology is able to produce over 300 Grams per square foot - which is currently double the industry averages. The company is also expanding into the European medical marijuana sector, recently completing a joint venture agreement to construct cannabis production facilities using RavenQuest’s Orbital Garden grow technology. It is anticipated that production facilities will produce up to 35,000 kilograms of cannabis annually by 2021. The CEO also outline the company's road to profitability, surmising EBITDA rates of between 38 to 42 percent and profitability by the end of calendar year 2019. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

george scorsis

July 24, 2019
 

An Israeli company was granted a license to import and commercialize medical cannabis, marking an industry first in a country that expects marijuana exports to be an economic driver for the sector. However the country is yet to see its first commercial medical cannabis export, despite a law being approved about six months ago. Tel Aviv-based

Israel sees commercial medical cannabis imports, but still no exports  is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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additional info, George Scorsis

July 23, 2019
 

The GOP-controlled U.S. Senate will hold its first marijuana hearing Tuesday on the challenges that state-lawful marijuana companies confront when seeking banking services, but it’s unlikely the chamber would approve major reform anytime soon. “I remain pessimistic unless and until somebody signals to me that either Sen. (Mitch) McConnell, as the leader of the Senate, or his

Historic US Senate hearing eyes cannabis banking hurdles, but major reform seen as long shot is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Liberty Health Sciences

July 23, 2019
 

Hawaii’s fledgling medical marijuana reciprocity program has the potential to boost sales at local dispensaries given that several million domestic tourists visit the state each year, but the program has experienced a slow start since its launch. From early March through the end of May, Hawaii’s out-of-state program added an average of 160 patients per month. Growth slowed

Chart: Hawaii’s medical cannabis reciprocity program off to slow start is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

July 23, 2019
 

Former Canopy Growth co-CEO Bruce Linton, presenting the keynote address at the National Cannabis Industry Association’s Cannabis Business Summit, made light of his recent firing by the board of directors at Canopy Growth. His firing after a disappointing financial performance by the Canadian company in the first quarter of 2019, was only one of many topics Linton

Ex-Canopy Growth CEO Bruce Linton sounds off on global marijuana trends is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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more details, George Scorsis

July 23, 2019
 
International Cannabis, NEO Exchange, Investor Psychology with Nika Domi - Midas Letter RAW 220
Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

addiitional information, George Scorsis

July 23, 2019
 

The Republican chair of a key U.S. Senate panel signaled Tuesday that he’s receptive to marijuana banking reform but does have some concerns. “I think a case has been made pretty strongly here about the need to get the banking industry issues relating to cannabis resolved,” Senate Banking Committee chair Mike Crapo, from Idaho, said

US Senate banking panel chair indicates openness to cannabis banking reform is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Aphria

July 23, 2019
 

MJardin Group, a marijuana production company based in Denver and Toronto, broadened its reach with the acquisition of its first cultivation facility in Nevada. MJardin, which trades on the Canadian Securities Exchange as MJAR, announced Tuesday it closed and transferred the license of Las Vegas-based GreenMart of Nevada. More on MJardin’s move can be found in

MJardin expands marijuana operation into Nevada is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

July 23, 2019
 
Cannabis News July 23 2019 - MPX, Weed MD, Ignite, Fire & flower, High Tide
************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis website

July 23, 2019
 
Next Green Wave Holdings (CNSX:NGW) Premium Angle on Californian Cannabis Market
Next Green Wave Holding Inc (CSE: NGW) (OTCQX: NXGWF) is a California-based extractor and Consumer Packaged Goods producer. The company's CEO, Leigh Hughes, joins James to give me an overview of how the company operates in the California market and details Next Green Wave's premium angle on almost every aspect of that business. Next Green Wave has eight cannabis brands, with 45 different product SKU's, encompassing a wide-array of cultures that exist in cannabis within California. The company is also using using premium influences coupled with its differentiated product catalogue, which plays a significant role in the company's premium marketplace strategy. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis Aphria

July 23, 2019
 

U.S. House Judiciary chair Jerrold Nadler and U.S. senator and presidential hopeful Kamala Harris on Tuesday filed legislation to decriminalize marijuana across the nation. If adopted, the bill could open up business opportunities for legal marijuana nationwide, similar to the federal legalization of hemp. The Marijuana Opportunity Reinvestment and Expungement (MORE) Act of 2019 introduced

US House Judiciary chair introduces sweeping cannabis reform bill is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

July 23, 2019
 

Los Angeles-based Ello Capital plans “one-stop” shopping as a marijuana-focused investment bank serving cannabis companies in the United States. The company said it is filling a need for an underserved clientele with few, if any, other cannabis-focused investment banks currently operating in the U.S. It’s more common for investment banking firms, such as U.S.-based Cowen

Ello Capital launches as marijuana-focused US investment bank is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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more info, George Scorsis

July 23, 2019
 

All of us at Canna Law Blog were saddened to learn that the estimable Mark Kleiman passed away over the weekend. Kleiman was probably the most influential scholar on cannabis policy. His views were creative and nuanced, data-driven and humanitarian. He was a strong opponent of the War on Drugs going back to the early 1980s, yet he also opposed a full commercial model for marijuana legalization. Instead, he argued for a middle ground that would end prohibition and mass incarceration, while preventing the rise of Big Marijuana and its potentially detrimental public health consequences.

Our Seattle lawyers have distinct memories of watching Kleiman serve as Washington’s appointed “Pot Czar” as it built out the first state cannabis program in 2014. We spoke alongside him on issues as far afield as tribal cannabis programs back in those days, and we conferred with him over the years and used his writings to teach law students annually going back to 2016.

Kleiman was excellent in interview, lecture and print formats. For just a few of his greatest (and most accessible) hits, check out the following:

If we were to identify the most prominent theme in Kleiman’s scholarship, it would probably be that the lack of a coherent national policy on cannabis legalization is bad for everybody. States will race to the bottom on regulation and pricing, making the same mistakes as they did with alcohol and tobacco; public health will suffer.

Kleiman also did not shy away from saying things the cannabis industry and its regulators didn’t want to hear, on issues from cannabis use disorder as a real and growing problem, to his strongly held belief that taxes should be assessed on each product’s intoxicating power. Our cannabis business lawyers did not always agree with Mark, but to a person we always considered him well-informed, thoughtful, and honest.

Kleiman left at a very interesting time for cannabis policy in the United States. Federal cannabis policy is still a disaster. States are building their programs on revenue-raising models, rather than emphasizing public health. The industry is dividing into THC companies and CBD companies. International norms are changing fast. Overall, it feels like things are moving more quickly than ever, but in a more chaotic manner than ever before.

The next few years will see continued need for strong voices on cannabis policy. Think tanks like the Brookings Institution and RAND Corporation continue to do important work, along with advocacy organizations like the Drug Policy Alliance and Marijuana Policy Project. As far as individuals, though, Kleiman was probably the single most respected and important voice in the field. He leaves an enduring legacy and giant shoes to fill.

Mark Kleiman will definitely be missed.


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George Scorsis

July 22, 2019
 

When the California Legislature returns from its summer recess in mid-August, it’ll face a monthlong sprint to get to all of the bills remaining on its docket, including several that could have a significant impact on marijuana companies. There’s no guarantee that any of those bills – including one that would establish a new banking

California legislative update: Several key cannabis bills still hang in balance is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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more details, George Scorsis

July 22, 2019
 
LIVE from The Wine Academy ft Halo Labs CEO Kiran Sidhu - Midas Letter RAW 219
Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis Liberty Health Sciences

July 22, 2019
 

Michigan regulators lowered marijuana licensing fees for prospective business owners living in 19 cities where residents were disproportionately impacted by the war on drugs. Under the new social equity program, regulators can slash fees up to 60% for applicants with proposed marijuana establishments in minority, low-income communities, including those in Detroit and Flint, as well

Michigan cuts fees for some future cannabis businesses is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

July 22, 2019
 

California authorities seized $30 million worth of unlicensed cannabis products since the rollout of the state’s legal market in January 2018, but industry insiders say that’s far short of what’s needed to stamp out the black market. The Bureau of Cannabis Control (BCC) worked with local law enforcement agencies to serve 25 warrants against unlicensed

California seized $30 million in illegal marijuana since 2018 is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

July 22, 2019
 

Canada’s adult-use marijuana sales jumped 14% in May on the back of new store openings in British Columbia and Ontario, and longer store hours in Quebec – three markets that account for about three-quarters of the country’s consumers. Across the country, sales improved to 85 million Canadian dollars ($65 million) in May, up from CA$74

British Columbia, Quebec lead Canada’s cannabis sales higher in May is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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additional information, George Scorsis

July 21, 2019
 

The Israeli Ministry of Health is introducing a new price control scheme for medical cannabis that does not include a reimbursement mechanism, disappointing industry experts who had hoped the medicine would be added to the country’s “basic health basket.” The new pricing plan is expected to result in bigger monthly bills for frequent consumers, which analysts say

Israel throws medical cannabis industry curveball with new price control plan is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis Liberty Health Sciences

July 21, 2019
 

colorado hemp

The Agriculture Improvement Act of 2018 (“2018 Farm Bill”) legalized hemp by removing the crop and its derivatives from the definition of marijuana under the Controlled Substances Act (“CSA”) and by providing a detailed framework for the cultivation of hemp. The 2018 Farm Bill gives the US Department of Agriculture (“USDA”) regulatory authority over hemp cultivation at the federal level. In turn, states have the option to maintain primary regulatory authority over the crop cultivated within their borders by submitting a plan to the USDA. This federal and state interplay has resulted in many legislative and regulatory changes at the state level. Indeed, most states have introduced (and adopted) bills that would authorize the commercial production of hemp within their borders. A smaller but growing number of states also regulate the sale of products derived from hemp.

In light of these legislative changes, we are presenting a 50-state series analyzing how each jurisdiction treats hemp-derived cannabidiol (“Hemp-CBD”). Each Sunday we will summarize a new state in alphabetical order. So far, we have covered AlabamaAlaska, ArizonaArkansas, and California. This week we turn to Colorado.

When it comes to hemp, few states have embraced hemp like Colorado.  According to a report prepared by Marijuana Business Daily,  in 2018, Colorado allocated 12,042 outdoor acres and 2.35 million square feet indoors to the cultivation of hemp.  If you buy a product containing hemp, in any state across the country, it likely came from Colorado.

The state’s cultivation program is overseen by the Colorado Department of Agriculture (“CDA”). “Industrial hemp” or “hemp” means “the plant Cannabis sativa L. and any part of the plant, including the seeds of the plant and all derivatives, extracts, cannabinoids, isomers, acids, salts, and salts of isomers, whether growing or not, with a delta-9 tetrahydrocannabinol concentration of no more than three-tenths of one percent on a dry-weight basis.” CDA oversees the cultivation of hemp does not regulate the processing of hemp into other products, including Hemp-CBD other than requiring that cultivators disclose agreements with Colorado hemp manufacturers.

However, in 2018 Colorado enacted House Bill 18-1295 (“HB 18-1295”), codified in part in C.R.S. 25-5-426, which establishes that the manufacturing of an “industrial hemp” or “hemp product” must comply with Colorado’s Food and Drug Act. HB 18-1295 defines an “industrial hemp product” as “a finished product containing industrial hemp that”:

  • Is a cosmetic, food, food additive, or herb;
  • Is for human use or consumption;
  • Contains any part of the hemp plant, including naturally occurring cannabinoids, compounds, concentrates, extracts, isolates, resins, derivatives; and
  • Contains a delta-9 tetrahydrocannabinol concentration of no more than three-tenths of one percent.

Manufacturers of industrial hemp products must register with the Colorado Department of Public Health and Environment (“CDPHE”).

Colorado imposes certain labeling requirements on hemp products:

  • An identity statement, which indicates what the product is (not a brand name).
  • A net weight statement.
  • A list of all ingredients.
  • The company name with an address

The label must also clearly identify that it includes hemp as an ingredient and if there is CBD, the amount of CBD and whether it is an isolate. Labels must also include the statement “FDA has not evaluated this product for safety or efficacy,” and may not contain any health claims.

In this 50-state series, we’re moving through states alphabetically. However, if we were ranking the states, Colorado would almost certainly come in first due to its full-on embrace of hemp. The state was one of the first to legalize recreational marijuana so we’d give them a pass if they were to slow things down when it came to hemp. Obviously, that’s not the route taken by the Centennial State. In addition, in light of the uncertainties surrounding how the FDA would regulate Hemp-CBD, the state has tasked CDPHE with overseeing the manufacture of products containing hemp and Hemp-CBD. Kudos to Colorado for boldly moving forward with hemp.


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george scorsis

July 20, 2019
 

So, you're starting a marijuana business or thinking about changing the name of your established cannabis company. It's not as simple as making a pun playing off marijuana or incorporating words such as “420,” “canna” or “green” into a name.

Naming a cannabis business isn’t as easy as it sounds is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

July 20, 2019
 

elizabeth warren marijuana

Each Saturday, we have been running a series of blog posts that take a close look at each of the Democratic Party candidates for President in 2020. We examine each candidate’s historic approach to marijuana law and policy, and we also canvas their current respective stances on marijuana.

Over the past three weeks, we covered Joe BidenBernie Sanders and Kamala Harris. Today, we turn to Elizabeth Warren, the Senator from Massachusetts.

Grade: B+

Stance on marijuana: This past April, Senator Elizabeth Warren clearly vocalized her support for cannabis legalization at a CNN town hall. On social media, Warren has also come out strongly in support of legalization. Warren’s website, however, does not specifically advocate for legalization but rather for “rewriting our laws to decriminalize marijuana.” It is unclear whether this is an important distinction in Warren’s platform as a presidential candidate.

History with marijuana legislation: Warren’s stance on marijuana has evolved over the course of her senate career. In 2011 during her first campaign for Senate, Warren expressed openness to legalizing medical marijuana but opposed legalization in general. At the CNN town hall this past April, Warren declared that she had supported Massachusetts’ ballot initiative to legalize marijuana back in 2012. In reality, Warren was hesitant to offer her support for the ballot initiative, vacillating between silence and tentative approval. In a 2018 interview with Rolling Stone Magazine, Warren also exaggerated her support for Massachusetts’ 2016 ballot initiative to legalize marijuana; she said she had endorsed it, but her only statement about the initiative was that she was “open to the possibility of legalizing marijuana.”

In 2018, however, Warren pushed for marijuana reform through both her rhetoric and legislative action. In 2018, she co-wrote a letter to President Donald Trump asking him to reinstate the Cole memo. Later that year, she co-sponsored the STATES Act, a bi-partisan bill which, if passed, would amend the Controlled Substances Act to allow States to “implement their own marijuana laws without federal interference.” She also co-sponsored the Marijuana Justice Act (which would legalize marijuana if passed) as well as multiple other marijuana reform bills.

Warren became a vocal advocate of legalization just a year before announcing her intention to run for president in December of 2018. Considering that the majority of Americans support legalization, this shift in Warren’s platform was most definitely a deliberate move as Warren geared up for her presidential campaign.

Conclusion: Warren receives a “B+” grade on cannabis. She obviously wants to come across as a long-time advocate for marijuana reform. Despite her claims, however, Warren did not consistently support legalization of marijuana before 2016. Additionally, the statement on Warren’s website regarding marijuana calls for decriminalization, rather than legalization, even though Warren herself has called for legalization. Fortunately, Warren’s recent legislative action surrounding marijuana is promising, indicating Warren would likely reform marijuana laws if elected President.


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George Scorsis

July 19, 2019
 

Cannabis banking reform secures a landmark U.S. Senate panel hearing, financial experts contemplate the impact of Arcview and Curaleaf news, the Food and Drug Administration considers cannabis extracts from both marijuana and hemp varieties in response to a jump in over-the-counter CBD sales – and more of the week’s top headlines. Bank on it News was

US Senate to consider MJ banking issues, Arcview + Curaleaf’s important cannabis deals & more is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Aphria

July 19, 2019
 

Utah on Friday awarded eight medical marijuana cultivation licenses to a mix of local and out-of-state businesses. That’s two short of the 10 growers allowed under state law, but regulators are hoping to ensure a supply-and-demand balance. “The decision to only award eight licenses was made to avoid an oversupply of product, while still maintaining a

Utah selects medical cannabis growers, including out-of-state groups is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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more details, George Scorsis

July 19, 2019
 
Entrepreneur Joe Mimran, Halo Labs Shatterizer, Avicanna - Midas Letter RAW 218
Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

additional information, George Scorsis

July 19, 2019
 

Two more MedMen executives have left the California-based company for other cannabis industry jobs: Toronto-based Flower One Holdings announced that Kellen O’Keefe, ex-MedMen senior vice president of business development, joined its team as chief strategy officer. Meanwhile, Acreage Holdings, a New York-based multistate operator, announced it hired MedMen’s former senior vice president of technology, Alfred Miranda, as its

Former MedMen executives join high-profile marijuana companies is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

July 19, 2019
 
Avicanna Inc. (TSE:AVCN) CEO, Aras Azadian
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george scorsis

July 19, 2019
 

A Louisiana cultivator could soon start selling the state’s first medical marijuana products to retailers. “We’re in the process of bottling the final formulations and we’re waiting to put the labels on the bottles that will describe the contents,” John Davis, a vice president of grower GB Sciences, told Baton Rouge TV station WAFB. “That’s

Louisiana grower says medical cannabis rollout a ‘few weeks’ away is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

July 19, 2019
 

The Minister of Medical Care of the Netherlands informed the Dutch parliament that exports of medical cannabis flower to Germany will increase this year. In the letter, dated July 12, the Dutch minister explained that the request for an increase came from his German counterpart, who asked for a hike in the annual volume of

Netherlands to hike cannabis exports to Germany by 1,000 kilograms per year is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Liberty Health Sciences

July 19, 2019
 
Iconic Entrepreneur Joe Mimran Excited by Khiron Life Sciences Corp (CVE:KHRN)
Renowned Canadian entrepreneur Joseph Mimran joins James West to discuss his strategic counsel to Khiron Life Sciences Corp (CVE:KHRN) (OTCMKTS:KHRNF) (FRA:4KH). While Mr. Mimran is internationally recognized as a brand and retail concept visionary known for iconic brands such as Joe Fresh and Club Monaco, he also provides Khiron with expertise on packaged goods and retail development for the Latin American market. The Moroccan-Canadian entrepreneur adds tremendous value to Khiron's already experienced management team and Board of Directors with a proven record in brand development and will help distinguish Khiron's products from the competition. The Dragon from CBC’s Dragons’ Den believes Khiron "are sitting on so much potential" having first-mover advantage in the multi-billion global market in Latin America and is excited by the talent the company has attracted as well as the expanding Kuida product lines and distribution. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis website

July 19, 2019
 
Cannbis News July 19 2019 -  Columbia Care, 1933 Industries, BevCanna
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more info, George Scorsis

July 19, 2019
 

A licensed California cannabis company sued Santa Cruz County, claiming the governmental body is violating state law by prohibiting deliveries from out-of-county retailers into a swath of unincorporated areas. The East of Eden Cannabis Co. lawsuit filed in Superior Court in Santa Cruz County is the latest development in a thorny legal fight over who

Second lawsuit filed over California marijuana delivery rule is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Liberty Health Sciences

July 19, 2019
 
Halo Labs Inc (NEO:HALO) Revolutionizing Extract Experience with Exclusive Shatterizer DabTabs
Shatterizer Inc Co-founder Valerie McCulloch joins James West in Los Angeles, California to roll-out the Shatterizer DabTabs™ edition portable vaporizer. Watch the pair explore and demo the revolutionary cannabis extract products while explaining the specifics around dabbing, shatter, and how concentrates makes up a significant portion of the North American marijuana market.  As concentrates are the most potent and premium product derivatives of the cannabis plant, consumers need to be assured of consistency and flavour profile with each dose. The Shatterizer, using a borosilicate glass globe, brings that reliability to a premium vape pen - while remaining elegant and portable. Working in conjunction with Shatterizer, DabTabs™ provides consumers with the ability to prefill DabTabs™ Tablets with measured doses of either cannabis or cannabidiol. DabTab™ Dablets™ are expected to generate distribution throughout Canada, the United States and Europe. Halo Labs Inc (NEO:HALO) (OTCMKTS:AGEEF)  (FRA:A9KN) has the exclusive rights to the DabTabs™ products in Nevada and California, providing the Company with a unique position in capturing a large portion of the market. These innovative products are changing the way that dabbing is experienced by consumers, creating a cleaner and easier experience than traditional dabbing. The shatterizer is the newest form of vaporizers that allows consumers to experience smooth, flavourful use of a variety of concentrates, dabs, waxes, resin, and many other forms of extracts portably. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis

July 19, 2019
 

washington marijuana residency requirement

On June 26, 2019 the Supreme Court of the United States (SCOTUS) issued a ruling in Tennessee Wine and Spirits Retailers Association v. Thomas invalidating a two-year residency requirement for Tennessee retail liquor stores. The Washington State Liquor and Cannabis Board (LCB) has a similar six-month durational-residency requirement required for any person applying to be a true party of interest (TPOI) in a marijuana business. The Thomas decision could mean that days are numbered for Washington’s durational residency requirement.

Tennessee requires alcoholic beverages distributed in the state to pass through a three-tiered system overseen by the Tennessee Alcoholic Beverage Commission (TABC). TABC issues licenses to producers, wholesalers, and retailers of alcoholic beverages. Producers may sell only to wholesalers, wholesalers only to retailers, and retailers may sell to consumers. In order to hold a retailer license, an individual must show that he or she has been a resident of Tennessee for the last two years. SCOTUS noted that this requirement is very restrictive, especially when it is applied to corporations:

The rule for corporations is also extraordinarily restrictive. A corporation cannot get a retail license unless all of its officers, directors, and owners of capital stock satisfy the durational-residency requirements applicable to individuals. In practice, this means that no corporation whose stock is publicly traded may operate a liquor store in the State.

In 2012, the Tennessee attorney general issued an opinion stating that the durational residency requirement violated the Commerce Clause of the constitution and TABC stopped enforcing the requirements against new applicants. After TABC recommended approval of several applicants who did not meet the residency requirement, Tennessee Wine and Spirits Retailers Association (Association), a trade association of in-state liquor stores, threatened to sue. In turn, TABC’s executive director filed a declaratory judgment in state court to settle the question of the residency requirements’ constitutionality. The case was removed to federal court and the requirements were deemed unconstitutional. The Association appealed and the Court of Appeals for the Sixth Circuit affirmed the decision. The Association appealed the decision on the constitutionality of the 2-year residency requirement.

The Court’s analysis focused on whether or not Tennessee’s law was “saved” by Section 2 of the 21st Amendment. The 21st Amendment ended alcohol prohibition and Section 2 gives each State leeway in regulating alcohol in light of public health and safety measures. The Court determined that Section 2 did not save Tennessee’s durational-residency requirement stating that Section 2 “is not a license to impose all manner of protectionist restrictions on commerce in alcoholic beverages. Because Tennessee’s 2-year residency requirement for retail license applicants blatantly favors the State’s residents and has little relationship to public health and safety, it is unconstitutional.”

However, the Court also determined that the residency requirement violated the Commerce Clause of the Constitution. The Commerce Clause provides that “Congress shall have Power. . . to regulate Commerce with foreign Nations, and among the several States[.]” SCOTUS has interpreted a “dormant Commerce Clause” (DCC) which implies that the Commerce Clause does not allow states to implement protectionist measures that inhibit trade among states. We have been writing about this in the context of cannabis residency restrictions for a long time.

Under the DCC, “if a state law discriminates against out-of-state goods or nonresident economic actors, the law can be sustained only on a showing that it is narrowly tailored to advance a legitimate local purpose.” SCOTUS determined that “Tennessee’s 2-year durational-residency requirement plainly favors Tennesseans over nonresidents, and neither the Association nor the dissent below defends that requirement under the standard that would be triggered if the requirement applied to a person wishing to operate a retail store that sells a commodity other than alcohol.”

Under this analysis, Washington’s residency requirement appears out-of-line with the DCC and, by extension, unconstitutional. Like Tennessee’s regulation of liquor, Washington uses a three-tiered system to regulate marijuana sales, licensing producers, processors, and retailers. All TPOIs in all license types must meet Washington’s six-month residency requirement. This restriction significantly impacts corporations, even more so than Tennessee’s requirements because it is imposed on all shareholders and their spouses. That means that a person holding less than 1% of an ownership interest and her spouse must qualify as Washington residents.

Marijuana is a unique commodity given that it remains illegal under federal law. It is also illegal under Washington law to import marijuana from any other state. All Washington marijuana must be grown in-state. However, Washington’s 6-month is a clear protectionist measure favoring Washington owners. It would be hard for Washington to argue that this is the narrowest way for Washington to undertake the legitimate interest of regulating marijuana, given that many other legal states have either never imposed such residency requirements or have removed them or loosened those requirements. Utah was the latest state to do so with its medical marijuana regulations, as reported by the Salt Lake Tribune.

Though, the Thomas decision is arguably distinguishable from the current residency situation in Washington marijuana, it certainly does not help the state’s case if the requirement is challenged. Washington’s residency requirement is strict and controversial. As marijuana legalization spreads across the country it seems like the residency requirement is not sustainable, long term. It remains to be seen whether the Thomas decision is the last straw.


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George Scorsis website

July 18, 2019
 

Curaleaf continued its march to become a truly national cannabis company with its $875 million acquisition of Grassroots, one of the largest private multistate operators (MSO) in the United States.

Latest Curaleaf megadeal signals shift in cannabis M&A is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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george scorsis

July 11, 2019
 

Washington state rolled out the world’s second adult-use marijuana market on July 8, 2014, following closely behind Colorado, which began recreational sales at the start of that year. Over the past five years, Washington state cannabis business owners have persevered through stiff competition, a shifting regulatory landscape and sliding market prices. A study released by the

Lessons learned by Washington state cannabis firms after 5 years of recreational sales is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

July 11, 2019
 
Mojave Jane Brands (CNSX:JANE) to Acquire CB Asset Management
************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis

July 11, 2019
 

A California cannabis company and two of its executives face federal criminal charges for dumping 1,500 pounds of toxic waste. The charges against WellGreensCA stem from alleged violations of Environmental Protection Agency regulations. A U.S. attorney’s office has charged that Lunar Louissa, part owner of WellGreensCA, and Nadia Malloian, a company administrator, conspired to illegally

California marijuana manufacturer charged with toxic waste dumping is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

July 11, 2019
 

Biosynthesis - the mass production of specific cannabinoids in a lab setting - might be setting up to be the next big disruptor for the cannabis industry.

Biosynthesis may create disruption, opportunities in the cannabis industry is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

July 11, 2019
 
Zenabis Global Inc (TSE:ZENA) Closes Non-Dilutive Financing With Tilray, Inc (NASDAQ:TLRY)
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George Scorsis

July 11, 2019
 

cbd federal government

In the past few weeks, many opinions on the sale, marketing and transportation of hemp and hemp-derived CBD-infused (“Hemp-CBD”) products have been released by federal agencies, including the U.S. Food and Drug Administration (“FDA”), the U.S. Department of Agriculture (“USDA”), the U.S. Postal Service (“USPS”), and the Transportation Security Administration (“TSA”). While we have written on these agency policies individually, we thought it would be helpful to recap these opinions under one blog post.

FOOD & DRUG ADMINISTRATION

Since the enactment of the 2018 Farm Bill, the FDA has expressly opined that the sale and marketing of CBD-infused food and dietary supplement in interstate commerce is unlawful because CBD has already been approved as a drug, and thus, cannot be concurrently sold or marketed as a food or dietary supplement. Nevertheless, the substantial public interest in accessing CBD in food and dietary supplements has forced the FDA to explore potential regulatory pathways for the lawful marketing of these products. On May 31, the agency held a public meeting that offered CBD stakeholders a platform to share feedback and experiences and provided the agency with information related to the cannabis-derived compound. In addition, the agency created a working group that is evaluating the regulatory frameworks for non-drug uses of CBD. The agency anticipates updating the public about its progress later this summer.

U.S. DEPARTMENT OF AGRICULTURE

On May 28, 2018, the USDA issued a non-binding opinion letter in which the agency explained, in part, that states and Native American tribes may not prohibit the interstate transportation or shipping of hemp or hemp products lawfully produced under the 2014 Farm Bill. Specifically, the USDA reasoned that state and tribe interference is prohibited pursuant to the 2018 Farm Bill, which provides that “[n]othing in this sections prohibits the production of hemp in a State or the territory of an Indian tribe, for which a state or Tribal plan is not approved under this section, if the production of hemp is in accordance with [. . .] other Federal laws [i.e., the 2014 Farm Bill]” (Emphasis added). Note that while the USDA letter is non-binding, this agency policy strongly supports the position that states and tribes should not interfere with lawfully grown and processed hemp shipments.

U.S. POSTAL SERVICE

In March the USPS released guidance on mailing Hemp-CBD products, which it clarified at the beginning of June. Pursuant to its most recent guidelines, the USPS authorizes the mailing of Hemp-CBD products so long as (1) the products contain no more than 0.3 percent THC; (2) the mailer complies with all applicable federal, state, and local laws that pertain to hemp production, processing, distribution and sale; and (3) the mailer retains records establishing compliance with such laws, for no less than 2 year after the date of mailing. The second prong suggests that mailing Hemp-CBD food and dietary supplement would not be lawfully mailable given that these products violate the Food, Drug, and Cosmetic Act (i.e., the laws enforced by the FDA); however, this issue has yet to be administratively litigated or clarified by the USPS.

TRANSPORTATION SECURITY ADMINISTRATION

Back in May, we wrote about the confusing guidelines issued by the TSA on traveling with CBD-infused products. Shortly after our post was published, the agency revised its website, which now provide that:

Marijuana and certain cannabis infused products, including some Cannabidiol (CBD) oil, remain illegal under federal law except for products that contain no more than 0.3 percent THC on a dry weight basis or that are approved by FDA. (See the Agriculture Improvement Act of 2018, Pub. L. 115-334.)” (Emphasis added).

On its face, this policy suggests that the TSA will authorize travelers to carry any CBD-infused product that meets the federal THC concentration limit of 0.3 percent, even if the product is deemed unlawful by the FDA. However, travelers should understand that traveling with these products remains risky for two reasons: (1) “[t]he final decision rests with the TSA officer on whether an item is allowed through the checkpoint”; and (2) if it unclear how TSA would test products to verify their THC content. As far as we know, the TSA’s testing procedure is solely geared towards determining whether THC is present, not to measure its exact concentration.

To conclude, while the USDA, the USPS, and the TSA have all released guidelines that seem to legalize the transportation and shipping of Hemp-CBD products, these policies are drafted too broadly to completely shield carriers, mailers and travelers from enforcement actions. We anticipate – and sincerely hope – that the transportation of these products will become clearer and easier once the FDA implements a regulatory framework for their sale and marketing.


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george scorsis

July 11, 2019
 
To succeed in a highly regulated industry takes a lot of knowledge, skills, and hard work. Fortunately, this is the industry where George Scorsis excels the most. He has over 15 years of experience working in the highly regulated industry, specifically energy drinks and medical cannabis. His leadership style is one of the reasons behind the massive success of every company he became a part of.

George Scorsis’ professional background

George Scorsis has extensive experience managing companies in a strictly regulated environment. He was the President of Red Bull Canada and the chief executive officer and director of Liberty Health Science. During his time with Red Bull Canada, he restricted the organization, especially the operational aspect and geographical reach. The company benefits from it as seen in its revenue growth of over $150 million.

He also became a part of Health Canada, an organization that regulates products that have something to do with the consumer’s health and overall well-being. George Scorsis has helped the company in regulating the guidelines for the energy drink category. George Scorsis has worked with Mettrum Health Corporation. He was the president of the company and has led the company to success. During his leadership, the company was able to acquire a total of $430 million.

George Scorsis of Liberty Health Science

George Scorsis was the CEO and director of Liberty Health Science. It is a Canadian company operating in the United States and one of the leading providers of top-quality medical cannabis. A lot of deals came true under George Scorsis’s leadership. Liberty Health Science has an exclusive management agreement with Chestnut Tree Farm, a nursery in Florida authorized by the Florida Department of Health, Office of Compassionate Use as the dispensing body of medical cannabis.

Aside from the state of Florida, Liberty Health Science aims to expand its business scope in other states where medical cannabis is legal. George Scorsis uses his more than a decade of experience in building major brands in the highly regulated market. He takes a bold approach to take the company into the next level of success.

The medical cannabis industry is a multi-billion dollar business. With its legalization for the treatment and management of medical conditions, such industry is foreseen to grow even more as days passed by. George Scorsis’ knowledge and extensive experience in such industry is definitely a big help to every company in the same arena.

Learn more about George Scorsis https://www.georgescorsis.net/


 
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July 10, 2019
 

The number of marijuana product batches undergoing laboratory testing in California has dipped in recent months, sparking worries among some industry officials over the health of the state’s cannabis market and the possibility that product supply is dwindling. But several insiders also were careful to note it’s too early to reach any conclusions based on

Downturn in California lab-tested marijuana batches adds to confusion over state’s supply chain is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

July 10, 2019
 

Embattled Canadian cannabis cultivator CannTrust was dealt another blow after its recreational products were yanked from the shelves of Canada’s largest marijuana retailer. Daffyd Roderick, director of communications for the Ontario Cannabis Store (OCS), the province’s online retailer and wholesale distributor, confirmed to BNN Bloomberg that CannTrust’s products weren’t available for sale. “Due to the

Canadian retailer pulls CannTrust’s recreational marijuana goods from shelves is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

July 10, 2019
 

A former publisher of the Chicago Tribune joined Illinois-based cannabis company Revolution Enterprises, part of a growing parade of C-suite officers from major companies plunging into the marijuana industry. Revolution, a multistate cannabis company based in suburban Chicago, announced Wednesday it had tapped Tony Hunter, who spent 20 years with the Chicago Tribune, to help

Ex-Chicago Tribune publisher joins Illinois cannabis firm is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

July 10, 2019
 
Martello Technologies, Mojave Jane Brands - Midas Letter 213
Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis

July 10, 2019
 

The head of a cannabis industry lobbying group urged U.S. Congressional lawmakers Wednesday to pass legislation to protect state-legal marijuana businesses and resolve the “untenable” conflict between state and federal marijuana laws. Neal Levine, chief executive officer of the Cannabis Trade Federation, called the current situation a “frustrating dichotomy” that creates a hazardous cash-only industry

Congressional panel urged to support states-rights marijuana legislation is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

July 10, 2019
 

Bob Nardelli, who doubled the size of Home Depot while the company’s CEO from 2000 to 2007, will serve as a strategic adviser to GrowGeneration Corp., the Denver-based cannabis cultivation company announced Wednesday. The move by Nardelli, who also was chair and CEO of Chrysler for two years, is another example of a mainstream business leader

Ex-Home Depot CEO joins cannabis grow-supply firm GrowGeneration is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

July 10, 2019
 

New Zealand released highly anticipated proposed medical cannabis regulations Wednesday, representing a “huge milestone” for the country’s burgeoning industry as it looks to become a hub for innovation, cultivation and production, industry sources said.

New Zealand unveils proposed medical cannabis regulations, aims for 2020 launch is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Aphria

July 10, 2019
 

A Florida appellate court ruled that the state’s medical cannabis licensing system is unconstitutional, setting the stage for greatly expanded business opportunities in one of the country’s fastest-growing markets. Found unconstitutional were legislative measures that imposed license caps and vertical integration. “The takeaway here is that while the decision will most likely be appealed to

Florida appeals court nixes medical marijuana caps, vertical integration is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Aphria

July 10, 2019
 
Cannabis News July 10 2019 - Khiron, Organigram, Spectrum, MedMen, Eureka
************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis Liberty Health Sciences

July 10, 2019
 

Sales of insurance-covered medical cannabis continued to increase during the first quarter of 2019 in Germany, the largest market outside North America. In the first three months of the year, sales of reimbursed cannabis products totaled 24.5 million euros ($27.5 million), an increase of 7% from the fourth quarter of 2018, according to government data.

German sales of insurance-covered medical cannabis continue upward trend is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Liberty Health Sciences

July 10, 2019
 

oregon cannabis law

The 2019 Oregon legislative session formally concluded on June 30 and it was a doozy. With respect to cannabis, however, the session was significantly less eventful than any conference since 2015 (and that is mostly a good thing). If you’d like to track how we got here, we previewed the 2019 session in March and we gave a mid-session update in May. If you’re just here for the final tally, it’s enough to report that we didn’t get any legislation on hemp, social consumption, off-work use, or grow taxation. Instead, we got new laws limiting production, allowing the possibility of interstate trade, allowing the expungement and reduction of marijuana crimes, and banning system development charges targeting marijuana grows. Each new law is summarized below.

Production License Caps (Senate Bill 218)

This law authorizes the Oregon Liquor Control Commission (OLCC) to refuse to issue initial marijuana production licenses at its sole discretion, based on supply and demand in the state. As we’ve covered extensively on this blog, there is massive marijuana oversupply in the OLCC market. Although demand is also higher than anticipated, Governor Brown (who requested this bill pre-session) and others have been eager to curb production, apparently due to some combination of protectionist instincts and federal pressure.

Although SB 218 is straightforward, existing and potential clients have come to us with confusion over certain aspects of the new regime. Here is a summary of how the law affects certain parties:

  • Existing licensed producers. No change. If you are already licensed in the OLCC system, you will be able to renew your license annually (if you have been behaving), apply for changes in ownership in any amount, and apply for a change in location.
  • Pending producer applicants in general. OLCC will no longer allow changes in ownership greater than 51% for these applicants, or changes of premises location. Who qualifies as a pending producer applicant? Anyone with a license dashboard status of “New,” “Local Government Review,” or “Applicant Hold.”
  • Pending producer applications submitted on or before June 15, 2018. OLCC will continue to process producer applications received prior to the June 15, 2018 “pause” so long as those applicants have submitted an approved Land Use Compatibility Statement (“LUCS”). Applicants in this category without an approved LUCS has been moved to “inactive” status.
  • Producer applications submitted on or after June 16, 2018. OLCC will inactivate all producer applications received after June 15, 2018, regardless of whether a LUCS has been acquired. It is unclear whether OLCC will refund the $250 application fee.

Is SB 218 going to fix the oversupply issue? We doubt it very much. As I wrote a few months back, if Oregon had wanted to cap marijuana production in the OLCC market, it’s about four years and 900 grows too late. Still, SB 218 creates some new wrinkles and affected parties must plan accordingly.

Interstate Trade (Senate Bill 582)

This law authorizes the Governor “to enter into agreements with other states for purposes of cross-jurisdictional coordination and enforcement of marijuana-related businesses and cross-jurisdictional delivery of marijuana items.” The export provision would take effect on the earlier of: (a) the date Federal law is amended to allow for the interstate transfer of marijuana items between authorized marijuana-related businesses; or (b) the U.S. Department of Justice issues an opinion or memorandum allowing or tolerating the interstate transfer of marijuana items between authorized marijuana-related businesses.

In an impressive show of state-federal coordination, Oregon Senator Rony Wyden and Representative Earl Blumenauer introduced the State Cannabis Commerce Act shortly after SB 582 passed, which would protect all state licensed cannabis industries from federal interference, and which specifically shields commerce between states that have entered into trade agreements. This is a critical move. As we explained in the spring of last year:

“the interstate compact would almost certainly need to be buttressed by Congressional consent, which is a formal legislative action contemplated by Article I, Section 10, Clause 3 of the Constitution. When Congressional consent is given, an interstate compact literally transforms into federal law.”

Does the State Cannabis Commerce Act stand any chance of passing? It seems like a long shot given the current composition of the U.S. Senate. Still, the export and interstate trade discussion is a positive development and Oregon has shown both leadership and creativity in moving the conversation forward.

Expungement and Reduction of Marijuana-Related Convictions (Senate Bill  420 and Senate Bill 975)

SB 420 allows individuals to use an expedited process to set aside most convictions for possession, delivery and manufacture of marijuana, so long as the underlying conduct is no longer a crime. Anyone with a conviction that wouldn’t be illegal now, is eligible for an expedited process to expunge the conviction. Companion law SB 975 allows for a reduction in offense classification for other marijuana convictions.

Ban on Transportation Systems Development Charges (SDCs) (Senate Bill 365)

Last but not least, SB 365 prohibits local governments (namely, Deschutes County) from imposing SDCs for increased use of transportation facility resulting from marijuana production in exclusive farm use zone. Deschutes County has generally made a mess of cannabis regulation, and its ham-handed attempt to levy SDCs on cannabis production forced the legislature’s hand.


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George Scorsis website

July 10, 2019
 

Midway through 2019, Medical Marijuana, Inc. celebrates its largest sales month ever, setting the tone for the rest of 2019.

Medical Marijuana, Inc. and our subsidiary companies Kannaway® and HempMeds® had their largest-ever (unaudited) sales bookings month in company history in June of 2019. This accomplishment is part of an upward trend that has been experienced across our family of companies over the past few years. Our company recorded its highest sales year ever in 2017 and then surpassed that number in 2018. 

Efforts in 2019 like the creation of new products, joining industry associations, opening new markets, and advocating for CBD on the national stage have allowed us to further our mission of providing access to quality CBD to consumers around the world. 

“As we approach the mid-year mark, we are thrilled to see our growth in 2019 continue,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “Our success can be attributed to the company’s new management group from March 2016, handling both the Kannaway division as well as overall company-wide operations. This new team has grown monthly revenue 15 times compared to March 2016 revenue. We optimistically look at continued growth as operational activities expand into new markets during the second half of the year.”

In June, companies from across our portfolio worked to expand the reach of our hemp and CBD products. 

Last month, HempMeds® added new products to its Personal Care Line of hemp bath and body products. The company’s Personal Care Line includes shampoo, conditioner, body wash, and lotion, as well as Active Relief mentholated roll on, Soothing Body Balm, and Essential Body Oil – all formulated with CBD hemp oil. You can shop our store for the complete HempMeds® line

Our brand Dixie Botanicals® launched its new CBD sunscreen in June in partnership with Surface®, Southern California manufacturers of top quality sunscreen. Dixie Botanicals® + Surface® CBD-Infused SPF50 Sheer Touch Sunscreen blends 100 mg of CBD with Surface® sunscreen lotion to offer the best skin protection out there. Dixie Botanicals®’s premium CBD sunscreen is formulated to be ultra-lightweight and leave your skin feeling clean and soft while effectively protecting your skin from the damaging effects of the sun. You can find Dixie Botanicals® + Surface® CBD-Infused SPF50 Sheer Touch Sunscreen now in our store. 

Medical Marijuana, Inc. subsidiary Kannaway® also kicked off pre-marketing initiatives in Japan, the next market in the company’s international expansion plan. Last year, the company began its international efforts by starting operations in the European Union, where the company continues to work with the governments of member nations to create a regulated CBD market. 

Kannaway® also became a member of the European Industrial Hemp Association (EIHA) in June.  As an EIHA member, Kannaway will participate in the organization’s operational and legislative activities as part of Medical Marijuana, Inc.’s mission to bring access to top quality hemp and CBD products to as many people as possible around the world.

Medical Marijuana, Inc. announced in June that it completed a milestone in the first-ever high-level stability study on a CBD hemp oil product. The long-term stability testing is being conducted Real Scientific Hemp Oil-X™ in strict compliance with FDA/ICH guidelines. The positive 6-month accelerated and 9-month long-term stability test results suggest that RSHO-X™ is a stable formulation. A preliminary shelf-life of 12 months was derived from the primary and supportive data. The stability testing will be continued up to 24 months. A corresponding shelf-life of 24 months is anticipated.

You can get all the latest Medical Marijuana, Inc. news here or shop our store for the best in hemp and CBD products.


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George Scorsis

July 09, 2019
 

Beleaguered cannabis grower CannTrust shipped some unlicensed medical cannabis overseas, the Ontario company told Marijuana Business Daily, adding an international dimension to the Canadian company's regulatory woes.

CannTrust shipped unlicensed medical cannabis overseas  is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Liberty Health Sciences

July 09, 2019
 
Bruce Campbell on Top Stock to Play the Emerging U.S. Cannabis Industry: Halo Labs Inc (NEO:HALO)
Bruce Campbell, B.COMM, CFA, CAIA, the founder of StoneCastle Investment Management Inc. and the portfolio manager of the StoneCastle Cannabis Growth Fund (CNSX:CGOC) joins James West to discuss his expertise in the cannabis space and current attractive investment opportunities. Mr. Campbell recently highlighted Halo Labs Inc (NEO:HALO) (OTCMKTS:AGEEF)  (FRA:A9KN) in The Globe and Mail as a cannabis oils producer with a "potential high-growth story that is very much under the radar”. The Toronto-based company, which launched in Oregon in 2016, has expanded into Nevada and California and has recently struck a deal to buy Bophelo Bioscience - a medical cannabis producer in the African nation of Lesotho. Lesotho provides Halo Labs with the ability to grow great cannabis and service the 60 million market of South Africa while planning to provide Europe with extracts produced at a low cost with EU GMP standards. The StoneCastle Cannabis Growth Fund Portfolio Manager also highlights Halo Labs' expertise in extraction and different extraction solutions. Plus, the company's innovative product design, with their Dab Tabs and Shatterizer product catalogue, which could "revolutionize the business to a certain degree". ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis Aphria

July 09, 2019
 
Permex Petroleum (CNSX:OIL) Low Expenses and High Operating Netbacks
Mehran Ehsan, CEO of Permex Petroleum Corporation (CSE:OIL)(OTCQB: OILCF) sits down with James in studio for an introduction into the company. Permex Petroleum is a uniquely positioned junior oil and gas company with assets and operations across the Permian Basin of West Texas, and the Delaware sub-basin of southeast New Mexico. In an economy with failing oil prices Permex operates in an environment with some of the lowest operating expenses and some of the highest operating netbacks. Ehsan anticipates an increasing in production to be over 1,000 barrels a day for the first half of 2020. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis Liberty Health Sciences

July 09, 2019
 

Makers of cannabis products are more likely to turn a profit if they offer merchandise across multiple categories – but that profitability declines if a manufacturer produces too many types of goods. For companies offering products across a single category, 27% described their business as profitable compared with roughly 50% of companies offering products across

Chart: Diversification enhances profitability of marijuana product manufacturers – to an extent is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

July 09, 2019
 

Marijuana Business Daily is launching its inaugural Cannabis Industry Awards to be held during MJBizCon Week (Dec. 7-13) in Las Vegas and has opened the nomination process to recognize the top businesses, individuals and organizations participating in this global industry. The MJBizDaily editorial staff will select the winners in the awards categories that cover different geographic

MJBizDaily opens nominations for inaugural Cannabis Industry Awards is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

July 09, 2019
 

Surterra Wellness, a fast-growing marijuana company based in Atlanta, on Tuesday announced it hired a highly paid executive from Kellogg Co. as chief financial officer. Fareed Khan, the latest Kellogg exec to leave the Fortune 500 company for the cannabis sector, will be in charge of corporate finance, investor relations, taxes and shared services for

Surterra taps new CFO from Kellogg, continuing cannabis hiring trend is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Aphria

July 09, 2019
 

Green Growth Brands, a cannabis company based in Ohio, agreed to pay $310 million in stock for multistate operator Moxie. Moxie is based in Long Beach, California, but sells both recreational and medical cannabis products from 250 retail outlets and dispensaries in five states. Green Growth, which is headquartered in Columbus but largely focuses on

Green Growth acquires multistate marijuana firm Moxie in $310 million deal is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

July 09, 2019
 

Since most businesses are purchased as a multiple of earnings (expressed as earnings before interest, taxes, depreciation and amortization, or EBITDA), the seller has substantial motivation to get those earnings as high as possible before putting the company up for sale. This focus on earnings is a normal function of everyday operations for any successful

Why the quality of earnings is critical in cannabis M&A is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Liberty Health Sciences

July 09, 2019
 

cannabis patent litigationWe have been closely monitoring the first ever cannabis patent infringement case, between plaintiff United Cannabis Corporation (“UCANN”) and defendant Pure Hemp Collective, Inc. (“Pure Hemp”). UCANN owns the “911 Patent,” which generally covers liquid cannabinol formulations of a purified CBD and/or THC greater than 95%. For the past year, UCANN has fought to secure a permanent injunction against Pure Hemp from infringing on its patent, as well as damages and attorneys’ fees. For our previous coverage, see  herehere and here.

Things have not been going well for Pure Hemp, and it recently struck out again. Last month, Pure Hemp had filed a Motion for Leave to Brief the Invalidity of the Certificate of Correction for the 911 Patent. UCANN filed a Response in Opposition on May 3, 2019 and Pure Hemp filed its Reply on May 22, 2019. The Magistrate Judge, Nina Y. Wang, issued her Order denying Pure Hemp’s Motion for Leave the same day.

As relevant here, recall in our previous post that in Pure Hemp’s Motion for Partial Summary Judgment (the “MPSJ”), Pure Hemp had claimed that Claim 31 of the 911 Patent is invalid because “it is a multiple dependent claim that improperly depends on another multiple dependent claim.” Essentially, Pure Hemp had argued that Claim 31 of the 911 Patent incorrectly covers: “The formulation of any one of the proceeding claims, wherein the formulation is infused in a medium chain triglyceride (MCT).” In response to this argument, UCANN had filed a Motion to Correct Claim 313 of the 911 Patent, seeking to modify Claim 31 by replacing “proceeding claims” with “preceding claims,” arguing that the former construction is simply an error the court may correct.

The Court denied UCANN’s Motion to Correct on February 19, 2019, finding that the error, if any, would be more appropriately addressed by proceedings before the USPTO. Three days later, UCANN did file a Request for Certificate of Correction with the USPTO, indicating it had made an “inadvertent typographical error” and arguing that the correction did not “involve new matter or require reexamination.”

“The standard for issuing a certificate of correction is laid out in 35 U.S.C. 255:Whenever a mistake of a clerical or typographical nature, or of minor character, which was not the fault of the Patent and Trademark Office, appears in a patent and a showing has been made that such mistake occurred in good faith, the Director may, upon payment of the required fee, issue a certificate of correction, if the correction does not involve such changes in the patent as would constitute new matter or would require reexamination. Such patent, together with the certificate, shall have the same effect and operation in law on the trial of actions for causes thereafter arising as if the same had been originally issued in such corrected form.”

On April 17, 2019, UCANN filed a notice indicating that the USPTO had agreed and issued a Certificate of Correction on April 9, 2019, amending “proceeding” to “preceding” in Claim 31 of the 911 Patent. This was relatively quick, cost-effective way that resulted in a big win for UCANN – that same day, Judge Martinez denied Defendant’s MPSJ. In his Order, Judge Martinez noted that UCANN had obtained the proper Certificate of Correction and therefore, Pure Hemp’s argument that Claim 31 was invalid because it did not contain a reference to a previous claim was moot.

Pure Hemp’s latest Motion for Leave argued that the Certificate of Correction is a broadening amendment, which is not proper, and that it did not have the opportunity to brief the issue as part of its MPSJ due to the timing of the issuance of the Certificate. Pure Hemp also argued that the issuance of whether the Certificate of Correction is a broadening amendment is an issue of claim construction, and that it should be permitted to brief the issue in conjunction with the same.

In response, UCANN made two simple arguments: (1) Pure Hemp’s motion violates the limits on the number of motions for summary judgment a party may file (in this case, one), and (2) the Patent Local Rules limit claim construction briefing to resolving issues of claim interpretation. Judge Wang agreed and denied Pure Hemp’s Motion for Leave in its entirety. This just goes to show: sometimes, really complex issues are resolved on really simple procedural grounds.

Now that the validity of Claim 31 has been put to rest, the parties have proceeded to the claim construction phase of all patent litigation (the subject of a future post!).  It will undoubtedly include more complex arguments, so stay tuned.


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George Scorsis Liberty Health Sciences

July 08, 2019
 

Ontario-based licensed cannabis grower CannTrust was sanctioned by Health Canada for conducting unlicensed cultivation and providing inaccurate information to the federal regulator, the company revealed today. CannTrust’s greenhouse facility in Pelham, Ontario received a “noncompliant” rating by Health Canada for operating five unlicensed rooms, and at least 12,500 kilograms (27,500 pounds) is being held back from

CannTrust hit with ‘noncompliant’ rating for unlicensed cannabis cultivation is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Liberty Health Sciences

July 08, 2019
 

Here are some notable stories and events in the cannabis industry to watch for in the coming days: OHIO BOARD DELIBERATES: After tabling discussions last month about adding autism spectrum disorder and anxiety to the list of qualifying conditions for its medical marijuana program, the State Medical Board of Ohio is expected to resume deliberations

Marijuana Business This Week: Ohio eyes medical cannabis additions, Iowa MMJ fight, L.A. deadline & more is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

July 08, 2019
 

Sundial Growers, a Canadian cannabis company, and California-based KushCo Holdings have applied to be listed on the Nasdaq. Sundial, based in Calgary, Alberta, would operate under the ticker symbol SNDL. The number of shares to be offered and the price range for the offering have not been determined. The company currently operates two facilities in its

Canadian marijuana firm Sundial, California’s KushCo seek Nasdaq listings is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Liberty Health Sciences

July 08, 2019
 
Midas Letter Harvest, Heritage Cannabis - Midas Letter 211
Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis Aphria

July 08, 2019
 

At least two political campaigns are underway in Montana to get recreational marijuana ballot measures before voters in 2020. If multiple measures end up making the ballot, they could split the vote and deter legalization for several more years According to the Missoulian, one of the two campaigns, MontanaCan, had already filed its ballot measure

Dueling recreational cannabis legalization campaigns in Montana is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

July 08, 2019
 

Nevada’s top cannabis companies are led by an eclectic mix that includes people with political ties, real estate developers and out-of-state companies, among others. Those are some of the findings of a Reno Gazette Journal analysis of a list of marijuana company executives released by the state. Other big-name cannabis executives in Nevada include: Lori Rogrich,

Who’s who at the top of Nevada’s marijuana companies is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

July 08, 2019
 

Sol Global, a Toronto-based international cannabis investment firm, said it raised 50 million Canadian dollars ($37.5 million) in debt financing. The company will use the proceeds to fund its expansion in CBD activities and operations in California, Florida and Michigan. The company also said Jonathan Gilbert resigned as president of its subsidiary, Impact Biosciences, which

Sol Global cannabis investment firm raises CA$50 million; exec resigns is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

July 08, 2019
 

Harvest Health & Recreation, a vertically integrated cannabis company with a market cap of roughly $1.7 billion, has grown its already large footprint in Arizona with the acquisition of another medical marijuana dispensary. Harvest, based in Tempe, Arizona, purchased Leaf Life for an undisclosed amount, but the acquisition includes a stock component. Leaf Life becomes the

Harvest beefs up portfolio by buying another Arizona medical marijuana dispensary is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

July 08, 2019
 
Cannabis News July 8 2019 - Canntrust, Sundial Growers, Neptune, TransCanna, JWCA
************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis

July 08, 2019
 

california hempCalifornia is on the brink of legalizing hemp-derived cannabidiol (“Hemp CBD”) in many products—well, sort of. The law at issue is Assembly Bill 228 (“AB-228”), and I’ve been writing about it since it was introduced in January 2019 (for my posts on it, see here, here, and here). As of today, it’s made its way through the California Assembly and most of the way through the California Senate with very little resistance. AB-228 is likely to pass soon, and because it is what’s called an “urgency” statute, will become immediately effective.

Since I started writing about AB-228, the bill has morphed a lot, and now actually has some teeth. Even if it passes though, Hemp CBD may not be completely legal in the Golden State. Here’s a brief explanation of what’s happened, and what’s at stake.

About a year ago, the California Department of Public Health’s (“CDPH”) released its now-infamous Hemp CBD FAQs, which take the position that Hemp CBD is illegal in basically all foods, beverages, and some other products (but note, there is not a single law or regulation on the books anywhere in the state that takes this position). The FAQs “outlawed” Hemp CBD based on the federal Controlled Substances Act (which as of December 20, 2018 and the passage of the 2018 Farm Bill no longer hemp illegal) and the fact that the federal Food and Drug Administration (“FDA”) did not allow the addition of Hemp CBD to the same products that are mentioned in the FAQs. (For a discussion of the FDA’s policy memos which claim that Hemp CBD is illegal, see here and here).

While the FAQs didn’t really cite California law (except to define foods, etc.) as the basis for enforcement, it’s come to light that the CDPH has been relying on the California Sherman Food, Drug, & Cosmetic Law (not to be confused with the federal Sherman Act, an antitrust law), to pull Hemp CBD products from retail and wholesale operations. The CA Sherman Law gives the CDPH authority over foods and beverages and allows them to target products that it deems “adulterated”. In a sense, the CA Sherman Law is a lot like the federal Food, Drug and Cosmetic Act that the FDA gets its authority from (hence all of the citations to FDA policy).

Originally, AB-228 was very narrow and only would have created a law saying that the mere addition of Hemp CBD to foods and cosmetics did not adulterate them. Over the last few months, in various committees, more and more things have been piled onto the bill. Here are some of the highlights of the current version:

  • Licensed cannabis companies wouldn’t be precluded from being in the hemp business;
  • Hemp products that are foods, beverages, or cosmetics would have some minimal labeling requirements;
  • Food manufacturers that make hemp products would be required to obtain certain registrations and would need to demonstrate that their hemp comes from a jurisdiction that has an “established and approved industrial hemp program” that meets all federal requirements for the sale and cultivation of hemp;
  • The CDPH wouldn’t be able to conclude that foods, beverages, or cosmetics are adulterated just because they contain CBD; and
  • Raw hemp products would need to undergo certain lab testing and get certificates of analysis prior to sale.

It’s clear that if AB-228 becomes law, it will be a huge victory for the burgeoning hemp industry across the state. But there are a few key issues that may still not wipe out the gray areas:

  • AB-228 does not change federal law. The California legislature has no power to modify federal law or policy. The FDA’s policy memos are not affected by California law. If sellers sell Hemp CBD foods, they may still draw the ire of the FDA—which is more likely if medical claims are made.
  • AB-228 does not require the CDPH to ignore federal law. Remember that the CDPH FAQs cited the FDA’s position. It is theoretically possible that the CDPH could continue to uphold the FAQs unless and until the FDA changes its mind. I think this is unlikely to happen, but in the hemp world, sometimes anything is possible.
  • AB-228 does not take away all grounds for enforcement from CDPH. If AB-228 passes, the addition of Hemp CBD to foods and cosmetics alone doesn’t render them adulterated. But that’s just scratching the surface. Other things could render them adulterated. The CDPH can also go after “misbranded” foods and other products. And, of course, there are tons of other product specific laws (e.g., Prop. 65) that may create problems for sellers of CBD goods.

In spite of these issues, if AB-228 passes it’ll create a lot of certainty for hemp businesses in California, where there previously wasn’t much. We’ll stay tuned on updates to this law and how it will affect the hemp industry in California, and as a whole.


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george scorsis

July 07, 2019
 

Licensed growers who want to sell cannabis clones in British Columbia are going to have to wait – or look to other markets – because the provincial wholesaler has neither immediate plans nor the ability to distribute those products to retailers. “The Liquor Distribution Branch’s (LDB) distribution centre is not equipped to receive, store or

British Columbia cannabis wholesaler ‘not equipped’ to distribute clones is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

July 07, 2019
 

arkansas cannabis hempThe Agriculture Improvement Act of 2018 (“2018 Farm Bill”) legalized hemp by removing the crop and its derivatives from the definition of marijuana under the Controlled Substances Act (“CSA”) and by providing a detailed framework for the cultivation of hemp. The 2018 Farm Bill gives the US Department of Agriculture (“USDA”) regulatory authority over hemp cultivation at the federal level. In turn, states have the option to maintain primary regulatory authority over the crop cultivated within their borders by submitting a plan to the USDA. This federal and state interplay has resulted in many legislative and regulatory changes at the state level. Indeed, most states have introduced (and adopted) bills that would authorize the commercial production of hemp within their borders. A smaller but growing number of states also regulate the sale of products derived from hemp.

In light of these legislative changes, we are presenting a 50-state series analyzing how each jurisdiction treats hemp-derived cannabidiol (“Hemp-CBD”). Each Sunday we will summarize a new state in alphabetical order. So far, we have covered Alabama, Alaska and Arizona. This week we turn to Arkansas.

The Arizona State Plant Board (“ASPB”), which is part of the state Department of Agriculture, has been overseeing the state’s hemp program since August 2018.

The ASPB rules require a license to cultivate, process, distribute or market raw hemp and industrial hemp products. “Industrial hemp products” or “hemp products” means “products derived from, or made by, processing industrial hemp plants or plant parts, including without limitation: (A) Certified seed for cultivation if the seeds originate from industrial hemp varieties; (B) Cloth; (C) Cordage; (D) Fiber; (E) Food; (F) Fuel; (G) Paint; (H) Paper; (I) Particleboard; (J) Plastics; and (K) Seed, seed meal, and seed oil for consumption.”

The rules also provide for “publicly marketable hemp product” which is differentiated from “industrial hemp products” and refers to “a hemp product that meets one or more of the following descriptions:”

(a) the product does not include any living hemp plants, viable seeds, leaf materials, floral materials, or decarboxylated delta-9-THC content above 0.3 percent; and does include, without limitation, the following products: bare stalks, bast fiber, hurd fiber, nonviable roots, nonviable seeds, seed oils, and plant extracts (excluding products containing decarboxylated delta-9-THC above 0.3 percent).

(b) the product is CBD that was derived from industrial hemp, as defined in this regulation; or

(c) the product is CBD that is approved as a prescription medication by the United States Food and Drug Administration.”

Publicly marketable hemp products are excluded from the ASPB’s definition of “cannabis” as well as from the ASPB’s explanation of who must apply for a license to grow or process industrial hemp.  Accordingly, no license or permit is required by the state agency to sell or deliver Hemp-CBD products in the state.

Moreover, on March 18, 2019, Arkansas removed Hemp-CBD that contains no more than 0.3 percent THC on a dry weight basis and that is not approved as a drug by the FDA from its list of controlled substances. In doing so, the state removed all criminal and civil penalties for possession hemp-derived CBD products in Arkansas, and thus, authorized the sale of these products regardless of continued federal prohibition.

Consequently, it is safe to say that Arkansas is one of the safest and most hemp-friendly states in the country.


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George Scorsis

July 06, 2019
 

bernie sanders marijuana

Every Saturday, at least for a while, we plan to run a series of blog posts that take a close look at each of the Democratic Party candidates for President in 2020. We are examining each candidate’s historic approach to marijuana law and policy, and also canvas each politician’s current stances on marijuana.

Last week, we covered Joe Biden. Today, we turn to Bernie Sanders, the Senator from Vermont who almost wrestled the nomination away from Hilary Clinton in 2016.

Overall Grade: A

Stance on marijuana: The legalization of marijuana is a major part of Bernie Sanders’ criminal justice reform platform. As stated on his campaign website, Sanders hopes to end the War on Drugs and legalize marijuana and he will do whatever he can to accomplish those things if elected. Sanders has frequently voiced his pro-legalization stance in interviews and on social media.

History with marijuana legislation: Over the course of his career, the Vermont senator has maintained a pro-legalization stance. As a House representative in the 1990s, when it was uncommon to do so, Sanders co-sponsored and signed a multitude of bills to legalize marijuana, to reschedule the drug, and to protect states that legalized cannabis for medicinal use. As a senator, Sanders has continued to sponsor pro-legalization bills, the most recent being the Marijuana Justice Act of 2019, which focuses on legalization as a method of criminal justice reform, and the Secure And Fair Enforcement Banking Act of 2019, which would protect banks that serve cannabis businesses.

Though Sanders’ rhetoric and record surrounding marijuana are mostly consistent, early in his political career, Sanders did vote for a few bills which conflicted with his platform of criminal justice reform. Sanders voted for the Violent Crime Control and Law Enforcement Act of 1994, which put into law the “Three Strikes” statute. And in 1997, he voted for a bill which if passed would have mandated minimum sentences for crimes involving firearms, regardless of whether the weapon was legal or not. Had this bill passed, a person arrested for pot while carrying a legally owned gun would receive a mandatory minimum sentence. 

Conclusion:  Sanders receives an “A” grade based on his nearly flawless support for cannabis for the last 20 years. His record of pro-legalization legislation is remarkable and cannabis legalization is a central part of his platform as a presidential candidate. Though Sanders supported a couple bills early in his career that were inconsistent with his criminal justice platform, his two decades of pro-legalization legislation and rhetoric demonstrate his dedication to cannabis legalization and convince us that a Sanders presidency will be great for cannabis.


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George Scorsis Aphria

July 05, 2019
 
Honourable Deputy Prime Minister of Lesotho on Cannabis Making the Nation Famous & Respectable
The Honourable Deputy Prime Minister of Lesotho Monyane Moleleki sat down with James West at the Cannabis Europa Conference in London, England to discuss all things cannabis within the country of Lesotho. Lesotho was the first African country to legalize the cultivation and manufacturing of cannabis and has attracted international investments from major cannabis companies. His excellency outlines the nations deep history of administering herbal medicine and how the cannabis plant fits in line with Lesotho's traditions. Lesotho parliament has passed legislation of cannabis for pharmaceutical products and are now modernizing their regulation to become more compliant and progressive. Honourable Moleleki believes that being on the cutting edge of legal and regulatory framework, investors can feel more comfortable to invest within the country. He also discusses the country's compliant EU GMP standards for extraction, current cannabis investment and the company's currently growing within the country. Halo Labs Inc (NEO:HALO) (OTCMKTS:AGEEF) (FRA:A9KN) currently cultivate, manufacture and export cannabis products in Lesotho with a strategic partnership with Bophelo Bioscience. This partnership provides Halo with over a 14 hectare land package with an option on an additional 194 hectares. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis

July 05, 2019
 

Canopy Growth’s board sacks CEO Bruce Linton, New Jersey boosts number of medical marijuana business licenses, the U.S. Supreme Court declines to hear a 280E marijuana tax case – plus other important news from around the industry. Linton out as Canopy faces pressure from Constellation Bruce Linton, CEO and chairman of Canada’s Canopy Growth, the

Canopy’s Linton out, NJ ups medical cannabis licenses, 280E MJ tax case a no-go with Supreme Court & more is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

July 05, 2019
 

Canopy Growth’s board sacks CEO Bruce Linton, New Jersey boosts number of medical marijuana business licenses, the U.S. Supreme Court declines to hear a 280E marijuana tax case – plus other important news from around the industry. Linton out as Canopy faces pressure from Constellation Bruce Linton, CEO and chairman of Canada’s Canopy Growth, the

Week in Review: Canopy’s Linton out, NJ ups medical cannabis licenses, 280E MJ tax case a no-go with Supreme Court & more is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Liberty Health Sciences

July 05, 2019
 

Proposed regulations in Massachusetts surrounding marijuana business opportunities in social consumption and home delivery are on the calendar for next month, when officials will take public testimony on both. According to MassLive.com, the first Massachusetts Cannabis Control Commission hearing will be Aug. 14 at the Health Policy Commission in Boston. A second hearing will be

Massachusetts sets August hearings for cannabis cafes, home delivery is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

July 05, 2019
 
Halo Labs, Khiron, Bruce Campbell Cannabis Fund Portfolio Manager- Midas Letter RAW 210
Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

george scorsis

July 05, 2019
 

Marijuana products are ineligible for U.S. trademarks because the plant is federally illegal, but that's not keeping businesses in the marijuana and hemp sectors from filing trademark and patent applications.

In fact, protecting intellectual property in this manner is something many cannabis companies should consider doing.

Marijuana companies’ intellectual property is crucial – here’s how to protect it is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

July 05, 2019
 
Cannabis News July 5 - Tilray, Nutritional High, Canopy Growth, Naturally Splendid Enterprises
************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis website

July 05, 2019
 

A draft decree in Colombia is in the works that could substantially modify certain aspects of the current medical cannabis framework. Among other things, the proposed changes would make Colombian medical cannabis companies more competitive internationally by allowing flower to be exported into free trade zones. Another proposal is aimed at making it easier for

Big changes in store for Colombia cannabis regulations, but final rules and timeline uncertain is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

July 05, 2019
 

california cannabis licensing

On July 1, Governor Newsom signed into law AB 97 and SB 97, which combined, extend the life and power of provisional cannabis licenses, giving much needed relief to licensees sitting on temporary licenses that were about to expire and/or that are awaiting their provisional licenses to issue in the face of massive red tape at the state licensing level. These two bills also support increased and more aggressive enforcement against illegal operators and against non-licensees that support or assist illegal activity that violates the Medicinal and Adult-Use Cannabis Regulation and Safety Act (“MAUCRSA”).

Here are the major highlights (in my opinion) from these bills:

More enforcement options.  Remember when the Bureau of Cannabis Control (“BCC”) tried to go after Weedmaps for its alleged illegal advertising assistance to non-licensees? Well, the BCC will now have a blank check to pursue unlicensed companies that help people violate MAUCRSA. Specifically, the new bills state that:

“A licensing authority may issue a citation to a licensee or unlicensed person for any act or omission that violates or has violated any provision of [MAUCRSA or its regulations].” In addition,  regulators may “assess an administrative fine (per citation) not to exceed . . . thirty thousand dollars ($30,000) per violation by an unlicensed person . . . In assessing a fine, a licensing authority shall give due consideration to the appropriateness of the amount of the fine with respect to factors the licensing authority determines to be relevant, including the following:
(1) The gravity of the violation by the licensee or person.
(2) The good faith of the licensee or person.
(3) The history of previous violations.
(b) [These] sanctions . . . shall be separate from, and in addition to, all other administrative, civil, or criminal remedies.”
Whether this bill was a direct result of the BCC’s enforcement efforts against Weedmaps is anyone’s guess. In any event, unlicensed aiders and abettors beware.

Licensing simplification.  You no longer need to have or have held a temporary license to get a provisional license. You now only need to have filed a completed annual license application with the state and also demonstrate proof of California Environmental Quality Act (CEQA) compliance (which is painstaking and time-consuming for most cultivation licensees) and local authorization from your city or county (or demonstrate efforts to show that such approvals are underway) and you’ll be qualified to receive a provisional license.

Provisional license renewals.  Provisional licenses will still be good for up to a year, but they can now be renewed for additional year-long terms until January 1, 2022.

Organic cannabis certification.  We’re getting an organic cannabis certification program (similar to organic certification for products that already exists under California and federal law) by 2021 for cultivated and manufactured products, and you basically cannot label your products as “organic” until that program is up and running (since you can’t get certified organic status for your cannabis products from the Feds).

Social equity boost.  The state added more meat on the bones to its own social equity technical assistance program for participating local jurisdictions, which is much needed as cities have struggled significantly to get social equity sustainably off the ground.

Overall, the biggest boon from these bills is probably the fact that provisionals are the new temporary license, and that will be the case until 2022. This will likely lead to longer issuance times for annuals across all state agencies, but it will allow more people to enter the licensed system without having to wait months and months for any kind of licensure. And in order to get that provisional, you’ll still need to comply with CEQA, secure local authorization, and get your ducks in a row on some fairly involved annual license applications that include real property information and the submission of structured standard operating procedures. So, prepare now accordingly!


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George Scorsis

July 04, 2019
 
Khiron Life Sciences Corp (CVE:KHRN) Participation in National Cannabis Roundtable
************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis

July 04, 2019
 
Halo Labs, Deputy PM of Lesotho, Khiron, Permex, Artemis Growth- Midas Letter RAW Ep. 210
Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis

July 04, 2019
 
Cannabis News July 4 2019 - Harvest One,1933 Industries, Blueberries Medical Corp., North Bud Farms
************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis

July 04, 2019
 
fda cbd
People are distrustful.

In May 2019, Gallup pollsters asked Americans about their trust in federal agencies. The Food and Drug Administration (FDA) ranked near the bottom, beating only the Veterans Administration (VA) and the Environmental Protection Agency (EPA). Only 44% of respondents rated the FDA as doing an excellent or good job. In turn, 33% viewed the FDA’s performance as “fair” and 22% ranking the FDA as “poor.” That paled in comparison to the US Postal Service (74% good/excellent) and fell below even the Internal Revenue Service (IRS) (50% good/excellent). That’s not great for the FDA, considering that its purpose is to protect the public, not collect taxes.

While we’re on the subject of Gallup Polls, in June Gallup found that 4 in 10 respondents believed that CBD should be sold over the counter.  Only 21% of respondents believed that CBD oil should be sold with a prescription and a mere 2% believed it should not be available at all. In addition, 36% of respondents were not familiar with CBD.

It’s no secret that CBD presents a unique challenge for the FDA because the compound itself is about as popular as the agency. To compare, 44% of Americans think the FDA is doing a good job and 39% of Americans believe that CBD should be available without a prescription. If the FDA and CBD oil were politicians, they’d be neck and neck. That begs the question, do Americans trust the FDA enough to evaluate CBD?

Recently, the FDA issued a new statement on CBD: FDA is Committed to Sound, Science-Based Policy on CBD. The opening paragraph of the statement is reassuring:

Science forms the basis for decisions at the [FDA] and is paramount when it comes to making decisions that will impact the health and safety of the American public. We apply this rigorous, science-based approach to matters large and small that come before the Agency — including with respect to products containing cannabis or cannabis-derived compounds, including cannabidiol (CBD).

That sounds great! Who doesn’t want a “sound, science-based policy on CBD?” Though evidence shows that CBD certainly has some serious benefits, we really do not know enough about the compound at this point. I think the FDA’s statement sums this up nicely:

While we recognize the potential benefits of CBD, questions remain regarding its safety. During our review of the marketing application for Epidiolex, we identified certain safety risks, including the potential for liver injury. Furthermore, unsubstantiated therapeutic claims — such as claims that CBD products can treat serious diseases — can lead consumers to put off getting important medical care.

Again, it’s pretty hard to argue that these items shouldn’t be investigated. The problem is that people may not trust the FDA with something as popular as public access to CBD oil.

How did the FDA lose the public’s trust? In 2013, the Journal of Law, Medicine, and Ethics published an article titled Institutional Corruption of Pharmaceuticals and the Myth of Safe and Effective Drugs which provides some potential answers. The article finds that the “pharmaceutical industry has corrupted the practice of medicine through its influence over what drugs are developed, how they are tested, and how medical knowledge is created.” The FDA was created to protect the public from unsafe food and drugs. However, the high cost of investigating and approving drugs has turned “drug companies into the FDA’s prime clients, deepening the regulatory and cultural capture of the agency.” The article determines that the FDA has put the needs of the medical industry over the needs of individuals which has resulted in an increase in the overall number of drugs, some of which are not effective or needed. In the last few years, the opioid crisis has made the situation even more pressing. The Center for Disease Control reported that “drug overdoses killed 63,632 Americans in 2016,” and “nearly two-thirds of these deaths (66%) involved a prescription or illicit opioid.”

The lack of public trust in the FDA helps inform the current problem it faces with CBD oil. On one hand, the FDA must ensure that products are safe for the public. On the other hand, it also needs to keep politicians (including Senators Ron Wyden and Mitch McConnell) and the public happy by allowing broad access to CBD oil. We’ll continue to monitor how the FDA regulates this tough issue.


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George Scorsis

July 03, 2019
 
Deepak Anand on Supply and Distribution of CBD and Medical Cannabis in Europe
James sits down with Deepak Anand, a well-known figure in the legal cannabis scene, and the CEO and Co-Founder of Materia Ventures. Materia Ventures deal with the supply and distribution of CBD and medical cannabis based products, predominantly in Europe. The company will be launching their products very soon in the Danish and UK markets. The CEO outlines Materia's completed Series A round of financing, the company's valuation and their go-public strategy. Mr. Anand also sits on the Board of the Centre for Medical Cannabis (CMC) and provides his informed insights of current cannabis regulations around the world including the United States, China, and various nations inside Europe. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis Aphria

July 03, 2019
 

The marijuana inventory tracking system for the world’s largest cannabis market – California – isn’t fully online, despite its rollout in January. But it’s getting there. The slow transition to the new system involved confusion, headaches and extra costs, industry watchers note, reinforcing that legalization has brought with it a new world of red tape.

California’s track-and-trace system slowly spreading through marijuana supply chain, but hiccups remain is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

July 03, 2019
 

Former Canopy Growth co-CEO Bruce Linton may have had suspicions about his future when a special board meeting of the Canadian cannabis giant was convened last Friday. Even though Linton was also Canopy’s chair, he didn’t call the meeting. By Wednesday, Linton was filling up his car with gas at Costco and contemplating his future

Linton’s firing by Canopy follows string of losses, may raise concerns about cannabis sector-mainstream partnerships is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

July 03, 2019
 

Cannabis business opportunities could expand in Michigan after regulators released new wide-ranging emergency regulations Wednesday. For example, recreational marijuana businesses won’t face the capital requirements that medical cannabis businesses do. An MMJ business needs at least $200,000-$500,000 in assets. Other highlights of the measure signed by Gov. Gretchen Whitmer, according to MLive.com, include: Medical and recreational

Michigan issues emergency marijuana business regulations is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

July 03, 2019
 
On Bruce Linton
Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis Aphria

July 03, 2019
 

Large multistate marijuana operators and wealthy locals represent a major portion of the roughly 500 applicants seeking medical cannabis business licenses in Missouri. That’s according to a list sent by the state’s Department of Health and Senior Services to the St. Louis Post-Dispatch after the newspaper won a lawsuit asking for applicant records. The newspaper

Missouri cannabis application charge led by multistate operators is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Liberty Health Sciences

July 03, 2019
 

A key U.S. House subcommittee will hold a landmark hearing next week about federal cannabis reform, a pivotal step in potentially advancing legislation that’s intended to protect state-legal marijuana businesses. “Marijuana Laws in America: Racial Justice and the Need for Reform” is believed to be the first congressional hearing in history to examine cannabis in

Key congressional panel to hold historic hearing on marijuana reform is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Liberty Health Sciences

July 03, 2019
 
Dragonfly Biosciences, Premium CBD Retailer across Europe
************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis Aphria

July 03, 2019
 
Cannabis News July 3 2019 - Canopy Growth, Nutritional High, CannTrust, AgraFlora
************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis Liberty Health Sciences

July 03, 2019
 

Ontario’s plan to belatedly add more cannabis stories to its underwhelming roster of 22 authorizations is a sign the government is listening to industry and consumer feedback that the market can sustain – and requires – more outlets, according to experts. The Alcohol and Gaming Commission of Ontario will hold a lottery on Aug. 20

Ontario to hold lottery for 42 new recreational cannabis stores is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

July 03, 2019
 

RICO california litigationIn what appears to be a first, a veteran commercial cannabis cultivator in Santa Barbara County has sued another cannabis cultivator for, among many other claims, violating the federal Racketeer Influenced and Corrupt Organizations Act (RICO). According to the complaint, the defendants defrauded the plaintiff as one of many business partners, investors, and otherwise unsophisticated persons and entities targeted in a fraudulent business scheme to wrongfully acquire financial and real estate assets. Two of the plaintiffs’ 25 causes of action cite RICO violations as grounds for relief.

As a refresher, RICO is a federal statute with both criminal and civil aspects, allowing private parties to sue for relief against enterprises engaged in federally illegal “racketeering” activity, which includes among its long list of enumerated crimes things like bribery, counterfeiting, extortion, numerous types of fraud, and, notably, “dealing in a controlled substance.” It is because of the latter inclusion that RICO has made a lot of recent news as a (mostly unsuccessful) means by which neighboring property owners have sued to try and shut down cannabis cultivation operations, even when they are legitimately operating pursuant to state and local law. The contradiction stems from the fact that cannabis remains illegal in any form under federal law.

The current case is unique because a California cannabis cultivator is suing another cannabis cultivator for violating RICO as a criminal enterprise. But what makes this case interesting is that it’s not because the defendants are cultivating cannabis; rather, it’s because, according to the complaint, the defendants are allegedly conducting a fraudulent criminal enterprise that happens to also be based on the business of cannabis cultivation. In other words, the legal question presented is not whether a person that’s engaged in “racketeering activity” (i.e. cannabis cultivation) can sue another for engaging in the same illegal behavior, but instead whether one person can sue under RICO for relief against separate racketeering activity despite the fact that both persons are already engaged in another kind of racketeering activity that is not at issue.

An even simpler distillation of the issue would be whether state-legal commercial cannabis businesses are excluded from the protections of federal law simply because they are themselves engaged in federally illegal activity—even though the federal Department of Justice has in recent years deprioritized enforcement against state-legal cannabis businesses. We know that the DOJ has taken the position that cannabis businesses are not entitled to bankruptcy protection, although that position has found its limits in actions involving businesses ancillary to cannabis such as landlords.

But here, the plaintiffs have brought serious fraud allegations that do not appear to depend on the fact that anyone was engaged in cannabis activity; rather, the alleged RICO violations seem to depend specifically upon mail fraud and wire fraud—both of which are enumerated types of “racketeering activity” under the statute—as part of the means by which the enterprise allegedly furthered its purported ultimate goal of “dup[ing] and tak[ing] advantage of unsuspecting affiliates and investors, before ultimately cashing out to leave its victims to sift through the wreckage.” It just so happens that both sides of the lawsuit were also engaged in federally illegal cannabis activity. It is not clear whether a plaintiff’s own racketeering activity would preclude a claim for a different type of racketeering activity under a civil RICO suit where an unclean hands-type defense is raised, but courts have generally found such arguments unavailing except in limited circumstances where the same activity at issue in the lawsuit is alleged by both sides.

For more on RICO cannabis litigation, check out the following posts:


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George Scorsis

July 03, 2019
 

Canadian cannabis producer Canopy Growth announced the departure of Bruce Linton as co-chief executive, a surprise move that analysts say could be tied to the company’s disappointing earnings. Effective immediately, Linton is stepping down and co-CEO Mark Zekulin will become the sole chief executive as the board looks for a new leader. “The Board decided

‘The board decided’: Marijuana giant Canopy Growth fires Bruce Linton as CEO  is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

July 02, 2019
 

Health Canada handed out three noncompliant ratings to cannabis producers from the nearly 260 inspections the federal regulator conducted in the last fiscal year, according to its recently released compliance report. The inspection data illustrates the state of compliance – and, in some cases, shortfalls – for Canada’s fast-growing medical cannabis producers for the fiscal

Canada’s 257 cannabis inspections yield 3 ‘noncompliant’ ratings, 65 health/diversion-related deficiencies is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Liberty Health Sciences

July 02, 2019
 

Retail data reveals sales spikes in several marijuana categories over Mother’s Day and Father’s Day weekends, highlighting differences in gender-based cannabis gift-giving in states that have legalized adult use. Data from Seattle-based analytics firm Headset shows that sales increased 35% to 80% in several product segments over Father’s Day and Mother’s Day weekends in California,

Chart: Sales of cannabis products spiked over Mother’s Day, Father’s Day weekends is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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george scorsis

July 02, 2019
 

First-ever direct selling CBD hemp oil company Kannaway joins premier hemp industry association within newly opened EU market. 

Medical Marijuana, Inc. subsidiary Kannaway has joined the European Industrial Hemp Association (EIHA) for the first time as a member. This membership will help Kannaway promote the use of renewable hemp and CBD products throughout the European Union.

The EIHA is the only coalition for the industrial hemp sector in Europe. It operates with the goal of uniting the hemp industry in the EU and sharing critical information with its members. The organization also advocates for the cultivation, processing, and use of hemp commercially, lobbies for legislation surrounding hemp and CBD throughout the EU, and organizes events to connect hemp industry leaders in Europe.

As an EIHA member, Kannaway will participate in the organization’s operational and legislative activities as part of Medical Marijuana, Inc.’s mission to bring access to top quality hemp and CBD products to as many people as possible around the world.

“We’re excited to be recognized as a leader in the European hemp industry,” said Kannaway Vice President of International, Alex Grapov. “We look forward to working with the EIHA to help drive global policy changes regarding the legislation of hemp and CBD and help spread education on the potential wellness benefits of CBD.”

The EIHA currently has 52 member businesses and dozens of associate members, including doctors and industry experts. Its members, representing 31 different countries, are players in industrial hemp processing and distribution, car manufacturing, construction, and food and feedstock, as well as the pharmaceutical sector. 

To learn more about the European Industrial Hemp Association, its goals, and to see a list of its members, please visit http://eiha.org/members/.

According to the Brightfield Group, a predictive market intelligence firm, Europe’s CBD market was estimated at $318 million in 2018 and is expected to grow over 400 percent by 2023. Kannaway was one of the first to introduce hemp products containing high levels of CBD to Europe’s market back in 2017.

Kannaway’s Europe Division has grown exponentially over the last two years. The company has hosted over a dozen events throughout the EU, added more than 50,000 brand ambassadors to its team, and began selling in many new markets and countries. The company now ships to over 30 countries worldwide.

The company officially launched its European operations in 2018 with its Kannaway Grand Opening Event in Prague. More than 2,000 people attended the event where the company revealed several new innovative CBD products and exciting initiatives. 

This led to a significant amount of Kannaway’s 2018 revenue coming from its European operations and the company experienced an increase of nearly 200% in revenue over 2017 revenue.

“Europe has shown us great potential for operational growth and we’re enthusiastic about the future of CBD there,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “Working with the EIHA is a stepping stone to connecting with a larger audience there and helping the CBD industry progress as a whole.”

You can read more about Medical Marijuana, Inc. and our family of companies on our news feed. Interested in trying CBD for yourself? Visit the Medical Marijuana, Inc. store now for our complete line of CBD supplements, vapes, and topicals.


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George Scorsis Liberty Health Sciences

July 02, 2019
 
Khiron Life Sciences, Zenabis, Deepak Anand - Midas Letter RAW 208
Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis Liberty Health Sciences

July 02, 2019
 

New Jersey Gov. Phil Murphy on Tuesday signed a bill to expand the state’s medical marijuana program, a day after his administration announced plans to issue 24 additional MMJ licenses. The expansion plans will offer significant business opportunities in light of the New Jersey Legislature’s failure to legalize recreational marijuana. Rapid patient enrollment and continuing robust

New Jersey governor signs pro-business medical cannabis expansion bill is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Aphria

July 02, 2019
 
Cannabis News July 2 2019- 1933 Industries, Liberty Health, Khiron, Alefia, Emerald Health
************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

George Scorsis

July 02, 2019
 

New Mexico cannabis business stakeholders and others will provide input via a new committee for a recreational marijuana legalization measure set for introduction in the state’s Legislature in 2020. The panel, which will make legislative recommendations to the governor, comes after a bipartisan legalization bill stalled without a vote in the state Senate in March. Gov. Michelle

New Mexico panel set to advise governor on adult-use marijuana legalization is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Liberty Health Sciences

July 02, 2019
 

washington cannabis insurance In a prior post I discussed some general insurance issues for cannabis business owners to consider. Today we’ll take a deep dive into Washington State insurance for cannabis businesses. As is the case with most emerging industries, the pace of marijuana business continues to outstrip the development of ancillary but crucial services (see California Approves First Commercial Cannabis Landlord Insurance Coverage from only a year ago). Insurance is an important component for companies that have significant risks and either cannot afford to self-insure or are not permitted to self-insure.

For those who enjoy a bit of historical grounding, the first business insurance policies in the U.S. were written during the Industrial Revolution (which started in the early- to mid-1800s). Insurance was initially state-specific and remained so for the next hundred years. After the U.S. Supreme Court ruled in 1944 that insurance should be a federal affair, Congress quickly returned control to the individual states in 1945 though the McCarran-Ferguson Act, and states continue to regulate insurance within their boundaries today.

Washington has been on the forefront of marijuana legalization among the states, in 1999 becoming the 4th state to legalize medical marijuana, and in 2012 becoming the 2nd state to legalize recreational marijuana. Washington’s primary legislation mandating insurance for the cannabis industry was implemented in 2013. There have been several iterations and refinements to those requirements since 2013. The insurance required today looks like this (click here for the entire statute):

  • Marijuana licensees must obtain insurance coverage. “Licensees” refers to all cannabis retail stores, producers, and processors. This specific insurance legislation does not discuss ancillary businesses like landlords who rent to cannabis businesses or other companies who provide services to the cannabis industry, though those business owners should consider insurance specific to their particular business risks. Landlords with a mortgage will often be required to procure insurance for their real estate by their bank.
  • The type of required insurance is called commercial general liability coverage or umbrella coverage. This insurance covers both bodily injury and property damage “caused by any act, omission, or negligence of the licensee or its officers, agents, representatives, assigns, or servants.” In plain speak, this means that the business and its affiliated people are covered for any harm caused to any person or property. That is the broadest interpretation of the perfect insurance world (that does not exist). In reality those insurance policies are full of holes (insurance riders) where the insurance company can and will deny coverage to the company. Do not take what is on the front page of the policy at face value. Someone with an extreme attention to detail and fortitude for digesting and processing lengthy mind-numbing sentences written in justified, 8-point text for dozens of pages on end (basically every lawyer’s job description) will need to read the policy to understand what events and circumstances are covered by the policy.
  • Your coverage limits must be at least one million dollars ($1,000,000). Often insurance coverage is described as $X per occurrence and $Y in aggregate. X refers to the amount of coverage the insurance company will provide based on a single claim, and Y refers to the coverage for the policy in aggregate over the policy term, usually a 12-month period. Washington requires Y to be at least $1,000,000. The higher the coverage, the higher your premiums. If your policy contains a deductible, that is the amount you must pay toward making your business whole after a loss (a “covered event”) before the insurance company will start paying its portion of the loss.
  • Marijuana licensees must provide evidence (a certificate of insurance) to the WSLCB. The Washington State Liquor and Cannabis Board – sometimes just called the LCB – requires proof of insurance coverage. Cannabis businesses risk having their license revoked if they do not provide this proof of coverage.
  • The certificate of insurance must show WA, its employees, agents, and volunteers as additional insured. “Additional insured” is a term of art in the insurance industry, and if you tell your insurance agent that you need to add some additional insureds to your policy, that is a relatively straightforward and quick process. You should not need to give your insurer any additional information beyond the basic names and notice addresses for your additional insureds. The policy also needs to be primary over any other valid insurance policies. This is so that WA can be in charge of any future payouts and will not have to wrestle with more than one insurance company, potentially under a policy under which the state is not listed as an additional insured.
  • The insurance carrier has to be authorized to do business in WA and have a rating of A – Class VII (that’s a 7) or better in the most recently published edition of Best’s Reports (AM Best’s Insurance Reports). If you really want to use a specific insurance company that does not fit that criteria, there are additional criteria the insurance company can fit into (see 15RCW and 284-15 WAC), but it should be the insurance company’s job to tell you whether they fit the criteria. Do not try to conduct that analysis yourself.

Those are the bare insurance requirements for your Washington marijuana business. However, I need to provide a caveat to help you understand that the bare legal requirements are probably not enough to cover your business interests. The stated purpose of your required insurance (from the Washington Insurance Commissioner’s and the legislature’s point of view) is not to protect your business per se but to protect consumers from your business and to ensure you remain solvent enough to pay your liabilities if you fail to do something (omissions) you should have done or you do something you should not have done (commissions). There are many other types of insurance available (e.g. D&O insurance, employment practices insurance, worker’s compensation insurance, products completed liability insurance) that you should consider, but they are topics for another day.

Procuring and maintaining insurance is something that most business owners want to delegate to someone else, and they can, as long as that other person understands the importance of securing and keeping the policy in place without letting it lapse. If you already have insurance, you may want your attorney or trusted right-hand person to prepare a summary matrix of your coverage so you can see at a glance where you are covered and where you may have gaps you need to fill. This should be done at least yearly and well in advance of your annual insurance renewal.


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George Scorsis Aphria

July 01, 2019
 

Cannabis-related businesses, especially those from disadvantaged communities, would be eligible to get loans backed by the federal Small Business Administration for the first time under proposed legislation. The bill – introduced by U.S. House Small Business Committee chair Nydia Velázquez – comes just a week after her panel heard industry advocates urge Congress to extend small-business

Small marijuana firms could get SBA loans under proposed congressional bill is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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george scorsis

July 01, 2019
 

Here are some notable stories and events in the cannabis industry to watch for in the coming days: STRIKING OIL: A Georgia law making it legal to produce and distribute cannabis oils with a THC cap at 5% goes into effect Monday, giving the state’s more than 9,500 registered medical marijuana patients better access to

Marijuana Business This Week: Cannabis oil in Georgia, early MMJ access in MA, finalizing hemp regs in Alaska & more is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

July 01, 2019
 

Oklahoma’s medical marijuana sales are exceeding projections, thanks to patient participation rates among the highest in the country. The Oklahoma Medical Marijuana Authority has enrolled more than 3.5% of the state’s population as patients in its first year, according to the Tulsa World.  The stronger-than-expected participation rate is near the top of all MMJ programs

Oklahoma’s medical cannabis program powered by rapidly growing patient pool is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

July 01, 2019
 

Ireland is embarking on a five-year medical cannabis pilot program, opening up commercial opportunities for companies to supply the Irish market once their products have met approval requirements set out in legislation. The cannabis products will be dispensed from pharmacies – a common trait in federally regulated European medical marijuana markets. The country’s Health Service

‘Significant milestone’ as Ireland launches 5-year medical marijuana trial is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

July 01, 2019
 

Changes to regulations governing New Mexico’s medical marijuana program have led the state’s health department to declare that patients from other states cannot buy medical cannabis there. The rule extends to out-of-state patents who are enrolled in a legal MMJ program and have registered in New Mexico. In response, one of the state’s largest cannabis companies, Ultra Health,

NM health department bars out-of-state patients from buying medical marijuana is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Liberty Health Sciences

July 01, 2019
 

New Jersey is significantly increasing the number of business licenses in its medical cannabis program, with the announcement Monday that the health department will issue up to 24 new permits. But the number – which includes four vertically integrated permits – is far fewer than the 108 licenses that the state said in June it

New Jersey adds 24 medical cannabis business licenses but falls short of initial plan is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

July 01, 2019
 

cannabis trademark scandalous immoralIn alignment with its 2017 decision in the Matal v. Tam case which ruled that the disparagement clause of the Lanham Act violated the First Amendment’s free speech clause, the Supreme Court ruled last week that free speech protections also extend to “immoral or scandalous” trademarks. In Iancu v. Brunetti, SCOTUS ruled that the United States Patent and Trademark Office violated a trademark applicant’s free speech rights when it denied his application to protect the mark FUCT for apparel.

Section 2(a) of the Trademark Act, 15 U.S.C. §1052(a), states that no trademark by which the goods of the applicant may be distinguished from the goods of others shall be refused registration on the principal register on account of its nature unless it:

“Consists of or comprises immoral, deceptive, or scandalous matter; or matter which may disparage or falsely suggest a connection with persons, living or dead, institutions, beliefs, or national symbols, or bring them into contempt, or disrepute; or a geographical indication which, when used on or in connection with wines or spirits, identifies a place other than the origin of the goods and is first used on or in connection with wines or spirits by the applicant on or after one year after the date on which the WTO Agreement (as defined in section 3501(9) of title 19) enters into force with respect to the United States.”

Interpretation of these prohibitions is both subjective and fluid, and could vary depending on the examining attorney assigned to any given file. This left applicants (and attorneys) with a good deal of uncertainty as to what constituted “immoral” or “scandalous” matter. In the Brunetti decision, the Court asserted that the “immoral or scandalous” bar, similar to the “disparagement” bar addressed in the Tam case, discriminates on the basis of viewpoint and “collides with this Court’s First Amendment doctrine.” The Court goes on to explain:

Expressive material is “immoral” when it is “inconsistent with rectitude, purity, or good morals”; “wicked”; or “vicious.” So the Lanham Act permits registration of marks that champion society’s sense of rectitude and morality, but not marks that denigrate those concepts. And material is “scandalous” wh