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


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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
************************ 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 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


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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


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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


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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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additional info, George Scorsis

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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george scorsis

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


[Read More ...]

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


[Read More ...]

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


[Read More ...]

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


[Read More ...]

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


[Read More ...]

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


[Read More ...]

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


[Read More ...]

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


[Read More ...]

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


[Read More ...]

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.


[Read More ...]

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


[Read More ...]

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.


[Read More ...]

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


[Read More ...]

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


[Read More ...]

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


[Read More ...]

George Scorsis

July 19, 2019
 
Avicanna Inc. (TSE:AVCN) CEO, Aras Azadian
************************ 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
 

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
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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


[Read More ...]

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


[Read More ...]

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
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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
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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” when it “giv[es] offense to the conscience or moral feelings”; “excite[s] reprobation”; or “call[s] out condemnation.” So the Lanham Act allows registration of marks when their messages accord with, but not when their messages defy, society’s sense of decency or propriety.”

The statute therefor distinguishes between two opposed sets of ideas: “those aligned with conventional moral standards and those hostile to them.” The USPTO has refused to register marks that indicate “immoral” or “scandalous” views about things such as drug use, but has “approved registrations of marks expressing more accepted views on the same topics.”

Setting aside the known hurdles to obtaining U.S. federal trademark protection for marks used on goods or services that violate federal law, it is possible, under the Lanham Act, that a mark intended for use on perfectly legal goods or services that espouses a viewpoint on cannabis that strikes the examining attorney as “immoral” or “scandalous” could be refused registration on that basis. SCOTUS’s decision in the Brunetti case will now prevent that from happening, and we see this decision as win for the First Amendment.


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George Scorsis Liberty Health Sciences

June 30, 2019
 

arizona 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 and Alaska. This week we turn to Arizona.

The Arizona Department of Agriculture (“AZDA”) oversees the state’s hemp program.  The hemp program began in May 2018 when Senate Bill 108 was signed into law, which opened up hemp processing in the summer of 2019. It took the state a year so that it could develop the regulations and licensing program. As of now, the state’s opening up for license applications. Arizona’s hemp laws and regulations can be found here and here respectively.

Under Arizona law, growers (and nurseries), processors, harvesters, and transporters are required to obtain AZDA licenses, which AZDA publishes applications for here. The regulations also require researchers to obtain licensure. Notably, the AZDA doesn’t regulate retailers, which I’ll discuss some more below.  Like in any other state with regulated hemp, there are fees, compliance rules, and penalties for non-compliance. But the level of regulation is not even close to what we see for cannabis/marijuana in many other states.

It’s important to consider that the 2018 Farm Bill hasn’t yet been fully implemented, meaning for the time being, the 2014 Farm Bill is still in play. Even though the 2014 Farm Bill doesn’t expressly allow for commercial activity, a number of states have broadly interpreted it to permit commercial activity. Arizona is allowing commercial activity for licensees of the AZDA—in addition to allowing research as noted above—but it doesn’t appear to have taken the position that commercial sales are authorized under the 2014 Farm Bill like other states. What this means is that under federal law, and until the 2018 Farm Bill is fully implemented, the state of the laws is murky.

One of the areas in which the law is murky is the sale of hemp products. There is currently no retail license type, and the hemp regulations state that it’s prohibited to “Offer for sale, trade, transfer possession of, gift, or otherwise relinquish possession of industrial hemp plants, plant parts, or hemp seed that is capable of germination to an unauthorized person”. However, a different section of the regulations states that processors can “sell, distribute, transfer, or gift any products processed from harvested hemp that are not” unauthorized. Read together, these sections only seem to bar the resale of plant parts and not all “Hemp products”, which are defined as “all products made from industrial hemp, including cloth, cordage, fiber, fuel, grain, paint, paper, construction materials, plastics and by-products derived from sterile hemp seed or hemp seed oil.  Hemp products excludes any product made to be ingested except food made from sterile hemp seed or hemp seed oil.” While there aren’t specific retail license types, the state may be okay with limited sales of hemp products.

In terms of what those hemp products are, the AZDA itself doesn’t regulate the production of products made from hemp according to the following statement from these FAQs on its website:

Q: Will I be able to manufacture “CBD” products from industrial hemp?
A: Yes, however the Program oversight only extends from the growth and cultivation of industrial hemp, up to the point of processing. For licensed processors, the Program will focus on ensuring they receive raw material that is below 0.3% THC. If there are food handling laws, laws and regulations under the oversight of the Food and Drug Administration, or other laws related to industrial hemp of another agency, then those issues are out of the Department’s scope of regulatory oversight.

In other words, the AZDA doesn’t have oversight over certain products, but that’s not to say that other authorities don’t.

Another important nuance of the regulations is that they state that “No unauthorized person shall . . . transport, import or process industrial hemp”. It’s not yet clear what the effect of this provision will be on interstate shipments of hemp or hemp products. The 2018 Farm Bill states that individual states can’t block shipments through their borders, but (a) that law hasn’t taken effect yet, and (b) Arizona is free to stop shipments of out-of-state hemp into Arizona. So in the end, the state may just be closing off its borders to out-of-state products.

There are not a great deal of restrictions on personal use. The AZDA notes in the FAQ that people aren’t allowed to grow hemp for personal use. When it comes to marijuana, the state has a medical marijuana program which is subject to much different regulations.

Arizona’s hemp laws are still in their infancy. That’s all likely to change as the federal government implements the 2018 Farm Bill and the FDA (hopefully) comes out with CBD regulations. Stay tuned to the Canna Law Blog for any further developments with Arizona CBD and hemp laws.


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George Scorsis Liberty Health Sciences

June 29, 2019
 

joe biden marijuana cannabisEvery 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 will examine each candidate’s historic approach to marijuana law and policy, and also canvas each politician’s current stances on marijuana.

Today, we start with Joe Biden, the former vice president and U.S. senator from Delaware. As of today’s post, Biden may still be the current party front-runner, and is certainly near the top of the heap.

Overall Grade: D

Stance on marijuana: Biden wants to decriminalize marijuana use and automatically expunge prior criminal records showing marijuana possession convictions. He is, however, far from an advocate for cannabis legalization. Biden’s campaign website nowhere even addresses his beliefs on cannabis. Instead, it makes a vague statement about criminal justice reform that nowhere mentions the War on Drugs or marijuana:

We need to reform the criminal justice system to prioritize prevention, eliminate racial disparities at every stage, get rid of sentencing practices that don’t fit the crime, and help make sure formerly incarcerated individuals who have served their sentences are able to fully participate in our democracy and economy….”

His failure to mention the War on Drugs or marijuana on his website despite using “criminal justice reform” as a policy point is presumably because he zealously supported the War on Drugs, as described below. If Biden truly believes “Nobody should be in jail for smoking marijuana,” as he told voters this past March, he owes an explanation for why he previously supported the arrest and incarceration of countless Americans for weed.

History with marijuana legislation: Biden’s failure to mention marijuana on his website is probably intentional. Over the course of his political career, Biden has expressed his disdain for marijuana, with both his rhetoric and his legislation. The former vice president is described as an architect of the War on Drugs by Michael Collins, the director of national affairs at Drug Policy Action. As a senator, Biden was largely responsible for creating the “drug czar” in 1982, a cabinet position that would go on to form the Office of National Drug Control Policy and increase enforcement of anti-drug laws. Biden consistently pushed for stepping up enforcement of draconian drug policies, even criticizing then-President George H.W. Bush for being too soft on drugs.

As vice president, Biden’s position on marijuana seemed more subdued as major drug policy changes were enacted under the Obama administration, including the Cole memo which made it easier for states to legalize marijuana. However, the Obama administration deflected all attempts to reschedule marijuana, leaving it classified as a Schedule I drug, the same schedule as heroin.

As the Democratic Party’s platform increasingly becomes pro-legalization, Biden continues to oppose the legalization of marijuana, even for medical use:

We have not devoted nearly enough science or time to deal with the pain management and chronic pain management that exists. There’s got to be a better answer than marijuana. There’s got to be a better answer than that. There’s got to be a better way for a humane society to figure out how to deal with that problem.”

Biden gets one thing right: we do need more research surrounding pain management. However, his refusal to acknowledge the viability of cannabis as a possible treatment exposes his basic misunderstanding of both marijuana and the drugs currently used to manage pain. Though extensive research is necessary to determine the efficacy of marijuana for specific maladies, there is little doubt that it has tremendous potential for reducing the U.S.’s ongoing opioid epidemic, among other things. Considering the existing scientific evidence, Biden’s perspective that marijuana is somehow “inhumane,” and thus not to even be considered as a treatment for pain, is simply illogical. His opinion stems more from prejudice against cannabis (and the people who use it) than from science.

Conclusion: Biden receives an “D” grade for his views on cannabis because he both fails to recognize or acknowledge its medicinal uses and because he is the only prominent Democratic Party presidential candidate who does not support cannabis legalization. The only thing Biden has going for him is a stated desire for criminal justice reform, which saves him from a failing grade.


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George Scorsis website

June 28, 2019
 

Illinois’ governor makes his state the first to legalize recreational marijuana through its Legislature, Massachusetts moves forward with cannabis cafes and deliveries, California requires a universal symbol on vape pens, the hemp sector makes big inroads – plus other important news from around the industry. Illinois marks a marijuana first Illinois officially became the first

IL gov signs historic cannabis bill, MA moves on MJ cafes/delivery, new CA vape cartridge symbol rules & more is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

June 28, 2019
 
Aurora Cannabis, Halo Labs, Leafcann Group, Memery Crystal LLP - Midas Letter RAW 207
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

June 28, 2019
 

A bipartisan group of U.S. senators introduced a federal bill to bolster marijuana and CBD research, a move that could encourage more doctors to recommend medical cannabis and expand legalization efforts. The bill also would amend the definition of marijuana in the federal Controlled Substances Act to exclude the synthetic equivalent of hemp-derived CBD that

Bipartisan lawmakers offer congressional bill to promote cannabis, CBD research is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

June 28, 2019
 

Marijuana businesses hoping to see the end of onerous 280E tax provisions were dealt a setback by the nation’s highest court. The U.S. Supreme Court declined to review a petition brought by a Colorado medical cannabis dispensary challenging the authority of the Internal Revenue Service. Alpenglow Botanicals, based in Breckenridge, argued in its petition to the

US Supreme Court declines to hear 280E marijuana tax case is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

June 28, 2019
 
Aurora Cannabis Inc (TSE:ACB) on UK becoming Medical Cannabis Global Leader
Aurora Cannabis Inc (TSX:ACB)(NYSE:ACB)(FRA:21P) CCO Cam Battley visits James at the Cannabis Europa Conference in London, UK. Cam Battley was a guest speaker and discusses the potential for the UK to be a leader in medical cannabis on a global basis. While regulations at the moment make it a challenging process to provide medical patients with accessible cannabis products, Battley knows that Aurora can overcome those hurdles. ************************ 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

June 28, 2019
 

Maine is expected to launch recreational marijuana sales in March now that Gov. Janet Mills has signed a bill containing regulations recently approved by the state’s lawmakers. The law, signed by Mills on Thursday, goes into effect 90 days after the Legislature’s session ended June 20, the Portland Press Herald reported. Under the law, cities and towns

Maine recreational cannabis sales expected next spring is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Aphria

June 28, 2019
 
Khiron Life Sciences Corp (CVE:KHRN) Regulatory VP on CBD in Cosmeceuticals
************************ 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

June 28, 2019
 
Halo Labs Inc (NEO:HALO) Global Cannabis Extraction Strategy and Timeline
Halo Labs Inc (NEO:HALO) (OTCMKTS:AGEEF) is a company focused on extraction, creating quality cannabis oils and concentrates.  CEO Kiran Sidhu shares their intention to expand globally with an African (Lesotho) production and extraction strategy, with European distribution potential.  This is part of a long-term strategy to have the ability to compete directly with countries like India and China that traditionally have low-cost production and manufacturing abilities.  Mr. Sidhu shares his timeline for their strategy and looks ahead to profitability.  He also shares his thoughts on the global cannabis demand including the often overlooked African interest in 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

June 28, 2019
 
Cannabis News June 28 - Cannex, Blissco, Invictus, Hempco, Aurora, iAnthus, Tilt
************************ 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

June 28, 2019
 

A key government committee in France has set the stage for a two-year medical cannabis trial program that’s expected to kick off later this year, providing an opportunity for overseas companies to export product to the new market during its early stages. If made permanent, the program has the potential to make France one of the

France on verge of launching trial medical cannabis program, opening door for overseas businesses to supply new market is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis

June 28, 2019
 

In a blow to businesses hoping to quickly enter the West Virginia medical marijuana market, it could take up to three years before the new cannabis program is launched, a state official confirmed to Marijuana Business Daily. Allison Adler, director of communications for the West Virginia Department of Health, wrote in an email to MJBizDaily

West Virginia medical marijuana sales start delayed until 2021 or 2022 is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

June 28, 2019
 

california cannabis contractObviously, work in the cannabis industry for attorneys is way more than just state license acquisition. In fact, after a few years and with the exception of competitive licensing regimes, state licensing slows down and is usually taken in-house by cannabis companies that formulate compliance teams. In turn, as time goes on, a significant amount of the legal work in the industry turns on transactions between licensees. California has certainly been no different (though we’re dragging in the licensing department, mostly because of local control issues). Still, existing licensees are having no trouble conducting transactions with each other and with third parties for goods and services as they race to gain market share and build their brands.

As California’s regulated cannabis industry continues to emerge, licensee transactions are becoming more sophisticated and diverse. At the same time, because of the newness of California’s regulated market (combined with regulators’ continuing evolution of regulatory interpretations), certain transactions are posing larger and riskier issues for licensees. This post is dedicated to the top five most dangerous licensee-to-licensee contracts in California:

1.      Slotting Fees.

In recent months, our California cannabis business attorneys have seen a good amount of “pay-to-stay” and slotting fee agreements between cannabis cultivators, manufacturers, distributors, and retailers for dedicated, prime-time shelf space. In commodities, especially saturated ones, face time with consumers isn’t great and margins can be really poor and the competition is vast. In California, only cannabis retailers can sell to the public, so it’s hugely important for wholesale and distributor licensees to have good placement on shelf space in dispensaries and on the retailers’ online menus. The slotting fee agreement essentially amounts to the lump sum fee the supplier pays to the retailer to reserve their sacred, strategic shelf space. The pay-to-stay agreement (which can be similar to the slotting fee) typically takes things a step further where it’s instituted after the initial slot and addresses issues for existing products like marketing, promotion, inventory stocking, failure fees, and paying extra to ensure that your competitors don’t get any valuable shelf space near you or at all. The question, though, is whether such agreements are kosher in California in the first place given that our state cannabis laws generally prohibit anti-competitive practices by licensees. The answer on validity under these laws is that “it depends.” Analyses around anti-competitiveness and slotting fee contracts is highly factually intensive, and California cannabis regulators don’t seem aware that this practice even exists. While these contracts can give great security to licensees, they can also be used to block and strangle out other wholesales that may not be as capitalized or strategic in the marketplace. For more on slotting fee agreements, see here.

2.     Distribution Agreements. 

Even though the Medicinal and Adult-Use Cannabis Regulation and Safety Act (“MAUCRSA”stripped distributors of massive amounts of power (since, unlike alcohol, cannabis distributors don’t have to take title to the products they distribute), they are still 100% necessary in the California cannabis marketplace because they are the only license type that can transport marijuana products and they’re also the only licensees that can coordinate the required third-party testing of licensees’ products. Plus, prior to any retail sale, licensees must ensure that a distributor undertakes quality assurance packaging and labeling reviews of their products, and they’re almost exclusively in charge of collection and remittance of the cultivation and excise taxes to the California Department of Tax and Fee Administration. Since wholesale licensees have to go through distributors to get to market, distribution agreements are necessary. If your distributors is just your freight middle man, these agreements are not that potent and risk-laden. However, if you’re using your distributor similar to an alcohol distributor (i.e., a brand house), you’ll need to ensure that your distribution agreement is way more aggressive regarding term, circumvention to retailers, purchase amounts, timing, acceptance and rejection of products, testing issues and recalls, regulatory compliance and accountability, and representations and warranties regarding the products at issue. Specifically in California, our cannabis business lawyers have seen far too many one-sided distribution agreements that aren’t properly drafted, aren’t compliant with MAUCRSA, and that pay no attention to detail.

3.     Real Property Leases. 

The reason why real property leases make the list is because all too often our California cannabis business attorneys have clients coming to them with boilerplate lease documents that don’t even mention MAUCRSA and/or the collateral effects and contingencies born by using real property for commercial cannabis activity. Real estate is one of the most important assets and must-have’s for all forms of licensure and permitting, so details around licensing timeline, code of conduct, federal intervention, commercial cannabis insurance, and local and state licensing compliance should be huge for the parties, and not some after-the-thought from a form lease document. For more on California cannabis leases, see here, here, and here.

4.     IP Licensing.

Intellectual property licensing in cannabis is already precarious where cannabis companies cannot secure federal protection for their trademarks from the USPTO.  More often than not though, cannabis companies can get trademark protection from the state governments in the states in which they operate. Of course, there can be additional oddities when it comes to state-specific IP protection for cannabis companies. In California, in particular, only cannabis licensees can register and protect their cannabis trademarks with the State of California.  And California was also about to have a very complicated relationship between third party, unlicensed companies that license their IP to cannabis companies, but backed off on second thought on adoption of the final rules in January of this year. The common case issues with cannabis IP licensing are whether the licensor even has the IP they say they do (and whether or not that IP is protected or even protectable, which oftentimes its not because of existing infringement problems) and the regulatory ins and outs applicable to IP licensing. In California, if you’re going to be an IP licensor to a cannabis licensee, you will need to be disclosed to the state as a “financial interest holder,” including if you’re taking a royalty as consideration for the granting of the license. Many operators  and their IP licensors fail to make this disclosure and/or don’t understand regulators’ position relative to this requirement, which makes performance obligations and regulatory accountability in the agreement even more opaque.

5.     Influencer Agreements.

Influencer agreements made the list because licensees typically forget or ignore that these contracts constitute advertising, marketing, and promotion, which is heavily controlled by MAUCRSA and the Bureau of Cannabis Control. Basically, as a licensee, if you use an influencer, you’re on the hook for their words and actions as they relate back to your company and products. All of this means that cannabis companies who want to work with influencers must use detailed contracts, training, and/or guidelines to educate their influencers on how to not violate applicable regulations. And this is not something that cannabis companies should gloss over in a two-page, boilerplate contract. Generic provisions that require all parties to follow all applicable legal requirements may be sufficient in some contexts, but influencers are probably not aware of the specifics in cannabis regulations, and in California, for example, you better make sure that your influencer is gearing their ads and promotions to adults only (and that they can prove that to a reasonable degree of certainty if regulators ask). In addition, the influencer pretty much can’t do anything that’s attractive to a kid (under the age of 21) and if they do, the licensee is going to be on the hook.


All of the above agreements need to be handled with significant care and a deep grasp of the regulatory landscape in California. As always, the boilerplate will not cut it when it comes to compliance and accuracy, so don’t get caught on the wrong side of one of these dangerous contracts.


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George Scorsis website

June 27, 2019
 

After what seemed to be a brief hiatus, social media giants are once again suspending – and outright deleting – the accounts of marijuana companies. Some industry officials say this is a result of spiteful competitors flagging posts and reporting pages to the platforms’ moderators, costing businesses thousands of dollars in lost time and labor when

Social media challenges continue for cannabis firms – sometimes costing thousands in lost investment is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Liberty Health Sciences

June 27, 2019
 

The California Legislature on Thursday gave the final go-ahead to a budget trailer bill that will, among other things, extend the lifespan of provisional business licenses for cannabis companies until 2022. The measure, Assembly Bill 97, was approved easily by the assembly on a 57-11 vote after it passed the Senate on Monday. The bill

California approves bill to extend provisional permits, curtail illicit cannabis firms is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis Aphria

June 27, 2019
 

Two Democratic Oregon lawmakers on Thursday introduced congressional legislation to allow states, including Oregon, to export cannabis to other states with legal marijuana programs. The bill is an effort to remove the federal government’s ban on interstate shipment of marijuana, a prohibition that currently stands in the way of an Oregon cannabis export bill signed

Oregon lawmakers push bill to lift US ban on interstate marijuana exports is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

June 27, 2019
 

Surterra Wellness, an Atlanta-based medical cannabis company, closed a $100 million share offering whose net proceeds will be used to fund acquisitions and capital expenditure. The company also said it is taking on two new directors to help with corporate strategy: Ed Brown, former president and CEO of The Patron Spirits Co. Brown was a participant

Cannabis company Surterra closes $100 million funding, adds executives is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

June 27, 2019
 

Switzerland is looking to give physicians the ability to prescribe cannabis-based medicines, which would significantly boost access and, if approved, create one of Europe’s newest regulated markets. A proposed legal amendment would put the cultivation, processing, manufacture and sale of medical marijuana under the regulatory wing of Swiss Agency for Therapeutic Products (Swissmedic). A public

Switzerland aims to join neighbors in legalizing medical cannabis  is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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June 27, 2019
 

Switzerland is looking to give physicians the ability to prescribe cannabis-based medicines, which would significantly boost access and, if approved, create one of Europe’s newest regulated markets. A proposed legal amendment would put the cultivation, processing, manufacture and sale of medical marijuana under the regulatory wing of Swiss Agency for Therapeutic Products (Swissmedic). A public

Switzerland aims to join neighbors in legalizing medical marijuana is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


[Read More ...]

George Scorsis

June 27, 2019
 
Harborside Inc Commences Trading CNSX:HBOR, Steve DeAngelo as Chairman
Harborside Inc (CSE:HBOR) CEO Andrew Berman joins James to discuss the evolution of how the company transformed into a publicly trading entity. Berman accredits the success of Harborside as a worldwide recognized company to its Chairman Emeritus, Steve DeAngelo. Steve DeAngelo is a renowned cannabis activist who has been at the forefront of marijuana legalization efforts for more than four decades. The Harborside CEO explains how the company has set the gold standard for retail operations in the Californian market, where patients and customers alike can trust and value the company's retail experience. Harborside already have a large presence in Northern California and the Bay area which is of the largest cannabis market on the planet. Mr Berman also outline the future opportunities present for the company within the Californian market, where there are "485 cities and 70 percent of them haven’t even dealt with cannabis yet". ************************ 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

June 27, 2019
 

A growing trend among California cannabis retailers to charge brands for shelf space – and, thus, access to customers – has some in the industry decrying the practice as “pay-to-play” that threatens to crowd out smaller companies from the market. According to several industry sources, the practice first cropped up in early 2018 and quickly

California marijuana retailers charge product suppliers for shelf space, creating friction in the industry is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

June 27, 2019
 
Cannabis News June 27 2019 - Curaleaf, The Green Organic Dutchman, MediPharm, Green Growth
************************ 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

June 27, 2019
 

oregon hemp cbd litigation

Most of the hemp litigation we’ve written about has concerned a hemp purchaser suing a hemp farmer. This week concerns a $2.5 million lawsuit recently filed in Oregon wherein a hemp farmer sued a CBD processor.

The plaintiff, JNV Farms, alleges that in the fall of 2018 it entered into a manufacturing agreement with one of the defendants, C&N Ag LLC (“C&N”), by which JNV Farms was to provide industrial hemp to C&N who was to process the hemp into CBD Isolate and market and sell the finished product. The complaint alleges that profits were to be split 50/50.

According to the complaint, JNV Farms provided the defendants 13,800 lbs of biomass in December 2018. The defendants represented they were testing and preparing to process the material. After JNV Farms made repeated inquiries, defendants became less communicative then eventually refused to respond at all, and refused to meet with JNV Farms or permit inspection of the hemp or finished product.

JNV Farms claimed the defendants (i) neglected or refused to complete the work contemplated by the contract, (ii) failed to return the industrial hemp, (iii) failed and refused to compensate JNV Farms for the hemp, and (iv) failed to provide JNV Farms any of the CBD Isolate or the share of revenue from its sale. JNV Farms alleged claims for breach of contract, breach of the covenant of good faith and fair dealing, unjust enrichment, conversion, and fraud.

Finally – and not insignificantly – the complaint seeks to pierce the corporate veil and to hold the two owners of C&N, defendants Mock and Eastburn, personally responsible for the liabilities of C&N. This claim, perhaps more than the others, may strike fear into the defendants. As every business owner knows (or should know) a key purpose of incorporation is to shield company assets from being used to satisfy company obligations. The goal of a veil-piercing claim is to reach past the corporate shield and into the pockets of owners or investors.

Piercing the corporate veil is difficult. As it should be. But the complaint appears to allege facts sufficient to withstand a motion to dismiss. Notably the complaint alleges that when Mock and Eastburn negotiated the contract, and as of the date it was executed, that C&N was not yet in existence because no paperwork had yet been filed with the Oregon Secretary of State. This fact, if true, is not necessarily dispositive. (Indeed, if there was no corporation there is no need to pierce the corporate veil). But no one entering million-dollar contracts (Mock and Eastburn) ought to do so without having completed the necessary steps to form an entity. On the flip side, JNV Farms likely could have done a better job protecting its investment and the lawsuit may, as it often does, come down to whether the defendants have any recoverable assets. Time will tell.

For more on the recent wave of Oregon hemp litigation, check out the following:


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George Scorsis

June 26, 2019
 

Tonight’s bill signing marks a transformation in Florida, and a critical step on the journey to creating a green industrial revolution, strengthening agriculture with an alternative crop of the future & expanding access to safe, quality products.

June 26, 2019
 

Tonight’s bill signing marks a transformation in Florida, and a critical step on the journey to creating a green industrial revolution, strengthening agriculture with an alternative crop of the future & expanding access to safe, quality products.

June 26, 2019
 

Idaho advocates filed an initiative to place medical marijuana on the 2020 ballot, which would potentially create a statewide MMJ retail market. The Idaho Cannabis Coalition submitted initial signatures to start the process, and the Secretary of State now will review the initiative, according to Boise TV station KBOI. The organizers will attempt to collect 55,057

Idaho petitioners file to put medical marijuana on 2020 ballot is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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June 24, 2019
 

More than 42,000 medical marijuana patients in Ohio have signed up since the program went live in January, but half of those registered haven’t purchased cannabis because it is too pricey. A tight supply as a result of a lack of licensed cultivators, processors and dispensaries is keeping prices steep at retail stores, though costs have

50% of Ohio’s registered medical marijuana patients not buying, citing high cost is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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June 24, 2019
 

Missouri’s potentially robust medical marijuana market, with a tentative 2020 launch, is running into early resistance from doctors reluctant to recommend MMJ products to qualifying patients. “I don’t think doctors are hostile,” said Dan Viets, head of the Missouri Medical Cannabis Industry Association. “The simple fact is that most doctors are uninformed about the use

Reluctant doctors could hamper Missouri’s nascent medical cannabis program is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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June 24, 2019
 

A recent move in New Hampshire could make it easier for patients to receive medical cannabis recommendations and, thus, boost medical marijuana sales in the state. Physician assistants soon will be able to recommend MMJ in New Hampshire as Republican Gov. Chris Sununu signed a bill expanding the list of providers who may do so.

NH to allow physician assistants to recommend medical marijuana is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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June 23, 2019
 

Way to go TORONTO. </div></div></div><div class=

June 23, 2019
 

CBD is psychoactive. But so is caffeine. A psychoactive drug is a chemical substance that acts primarily upon the central nervous system where it alters brain function, resulting in temporary changes in perception, mood, consciousness and behaviour. https://www.sciencedaily.com/terms/psychoactive_drug.htm …

June 23, 2019
 

CBD is psychoactive. But so is caffeine. A psychoactive drug is a chemical substance that acts primarily upon the central nervous system where it alters brain function, resulting in temporary changes in perception, mood, consciousness and behaviour. https://www.sciencedaily.com/terms/psychoactive_drug.htm …

June 23, 2019
 

CBD is psychoactive. But so is caffeine. A psychoactive drug is a chemical substance that acts primarily upon the central nervous system where it alters brain function, resulting in temporary changes in perception, mood, consciousness and behaviour. https://www.sciencedaily.com/terms/psychoactive_drug.htm …

June 19, 2019
 

Canada’s biggest pharmacy franchise, Shoppers Drug Mart, is teaming up with TruTrace Technologies to develop a blockchain-secured pilot program for the medical cannabis industry. The companies hope the partnership will result in more standardized medicine, as well as more consistent clinical outcomes, they said in a news release. The program will use TruTrace’s technology for

National Canadian pharmacy chain to trace medical cannabis using blockchain is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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June 19, 2019
 

A key New Jersey legislative panel advanced a new medical marijuana expansion bill that appears to at least meet Gov. Phil Murphy halfway, but it’s unclear whether Murphy will approve the measure if it passes. The Assembly Appropriations Committee passed the bill by a 9-1 vote. The measure’s rapid progress comes a week after lawmakers

Version 2 of New Jersey medical cannabis expansion bill gains traction is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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June 19, 2019
 

The Italian government plans to import 400 kilograms of medical cannabis over two years and has opened the bidding process to companies that want to supply Europe’s second-largest market. The Italian Ministry of Defense – through its office of Stabilimento Chimico Farmaceutico Militare (SCFM) – published the details of the application process for the tender. Applications must

Italy opens application process to import 400 kilograms of medical cannabis is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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June 18, 2019
 

Amid ongoing complaints that Rhode Island’s three medical cannabis  dispensaries control the market – making it difficult for stand-alone cultivators to succeed – the state’s lawmakers released a budget that would license six vertically integrated companies to cultivate, manufacture and retail cannabis products. Medical marijuana cultivators in the state see the proposed budget as creating

Rhode Island budget proposal seen as setback to medical marijuana growers is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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June 16, 2019
 

This Raptors hype video is CRAZY. </div></div></div><div class=

June 14, 2019
 

Texas Gov. Greg Abbott on Friday signed into law House Bill 3703, a measure that increases the number of qualifying patient conditions for medical cannabis use, which likely could increase dispensary sales in the state’s limited MMJ program. The measure adds multiple sclerosis, Parkinson’s disease, ALS, terminal cancer, autism and many kinds of seizure disorders to

Texas gov signs bill expanding new conditions for medical marijuana use is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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June 14, 2019
 

A new investigative report published Friday concluded that Pennsylvania’s medical marijuana industry rollout was beset with problems to the point that it could provide legal ammunition for license applicants who did not receive approval but still want to get into the industry. Pennlive.com reported there were “significant errors and irregularities” in the application scoring process, in

Report: PA medical cannabis rollout marred by ‘errors and irregularities’ is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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June 14, 2019
 

In the past month and a half, the state of Michigan has dramatically increased turnaround times for processing and approving medical cannabis business license applications. In May alone, the new state Marijuana Regulatory Agency (MRA) ruled on 213 medical cannabis business permit applications, the Detroit Free Press reported. That’s up from an average of 95

Michigan accelerates medical marijuana business licensing is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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June 14, 2019
 

Multistate operator MedMen on Friday announced the opening of its first Florida medical marijuana dispensary, in West Palm Beach – the first of 12 such planned storefronts in the state. The California-based company said in a news release it’s also planning upcoming Florida dispensaries in Orlando and Key West. MedMen could eventually open as many

MedMen opens its first Florida medical cannabis dispensary is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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