CCMA Political greenBrief
Wednesday, October 31, 2018
Illinois-Based Cresco Labs Began After Cannabis Cultivator Jessica Ryan’s Father Struggled With A Rare Type Of Head & Neck Cancer
“I think a lot of both the emerging and established food and beverage companies see CBD as a potentially explosive source of revenue as the next great functional ingredient.”Jeff Klineman, Editor-In-Chief Of BevNET.com, On The Emerging Growth Of CBD-Infused Products
“The Canadian market has been very supportive of U.S.-based cannabis companies, and we look forward to having expanded access to capital that will help us accelerate our strategic growth plan.”Charlie Batchell, CEO Of Illinois-Based Cresco Labs, On Canadian & U.S. Cannabis Companies Merging
California Begins Issuing Full Annual Marijuana Business Licenses (CA – State Licensing)
Marijuana Business Daily (October 30, 2018) California has issued its first full annual cannabis business permits, doling out two recreational cultivation licenses to Forbidden Fruit Farms in Humboldt County as well as one recreational and medicinal manufacturing permit to Om Edibles in the Bay Area. The cultivation licenses were issued over the weekend by the state Department of Food and Agriculture (CDFA) and the manufacturing permit on Monday by the Department of Public Health (CDPH). This marks the first wave of annual permits for the vast majority of California’s marijuana companies – although a handful of annual MJ event permits had already been issued.
California Cannabis Company Indus Closes $46 million Raise For Expansion (CA – Cannabusiness)
Marijuana Business Daily (October 31, 2018) California marijuana supplier Indus Holding Co. has closed a $46 million funding round – capital that will be used to bolster the firm’s cultivation and distribution operations. The Series B funding round brought in more than triple Indus’ original target of $15 million, the result of high investor interest, the company said in a news release. Proceeds from the Series B funding round will be used to finance continued expansion of the firm’s cultivation, extraction, manufacturing and distribution operations.
Eaze Co-Founder Inks $5 Million Raise For Marijuana Logistics Firm (CA – Cannabusiness)
Marijuana Business Daily (October 30, 2018) A former executive of marijuana tech startup Eaze has raised $5 million for a new B2B logistics and e-commerce platform, Wayv. Based in Los Angeles, Wayv allows marijuana retailers to buy from a network of licensed cannabis companies and receive next-day deliveries. The platform integrates real-time tracking, regulatory and compliance features. Keith McCarty, a co-founder and former CEO of cannabis delivery firm Eaze and a former executive at social networking start-up Yammer, heads the new company.
Marijuana Tax Measures May Roll In Pot of Funds For Silicon Valley (CA – Cannabis Taxes)
Mountain View Patch (October 29, 2018) This Silicon Valley city may soon cultivate a new source of income for the local government if voters pass Measure Q next week, granting up to 9 percent on gross receipts of cannabis-related businesses be earmarked for the general fund. The general fund is widely known as a city’s largest pot of money, including this one seeking another way to pay for police and fire protection, emergency medical response, road repair and other critical city benefits such as park maintenance, library upkeep and senior services. The estimated value of such a government-by-initiative measure is about $1 million of unrestricted funds annually. It takes a simple majority to pass.
Marijuana Growers Ask SLO County For Extension Before They’re Ousted (CA – Local Ordinances)
KSBY (October 29, 2018) At one time, San Luis Obispo County leaders say there were up to 250 illegal marijuana cultivation sites in California Valley. In September of 2016, San Luis Obispo County supervisors adopted an urgency cannabis ordinance stating farmers could keep their marijuana plants as long as they registered with the county. Registering with the county came with requirements. Karow says dozens of the farmers registered in California Valley with the intention of building a community there.
Marijuana Is Going To Be Legal And Profitable But That Doesn’t Mean It’s Harmless (USA – Cannabis Market)
Forbes (October 31, 2018) Results of a new study released Thursday by Massachusetts General Hospital demonstrated that marijuana impairs memory and learning in adolescents who were regular users. On the up side, the study also found that one month of abstinence by regular cannabis users led to improvement in the memory functions that are necessary for effective learning. The link between memory and learning is a more complicated than it looks at first. Researchers aren’t talking about impairment of the ability to memorize, the kind you need to, say, learn the periodic table.
Young Advocates Launch Marijuana Legalization Phone Bank To Get Out The Vote (USA – Elections)
Marijuana Moment (October 31, 2018) You’ve probably heard that marijuana legalization is on the ballot in several states in November. But if you haven’t heard—and you live in one of those states—you might soon be receiving a call from a volunteer with Students for Sensible Drug Policy (SSDP). The national advocacy group recently launched a “legalization phone bank” to help get out the vote ahead of the midterm elections. Volunteers can use a tool on the group’s website to register to call voters in Michigan, Missouri, North Dakota and Utah and make sure they know that cannabis reform is on the ballot. To help callers get started, SSDP provided scripts and links to other reference material for each of the four states.
The LaCroix Of Cannabis? The Marijuana Market Bets On Beverages (USA – Cannabis Products)
Fast Company (October 31, 2018) As the cannabis industry continues to go more mainstream, entrepreneurs are on the lookout for the next niche market. Edibles have been done every which way, CBD-infused lotions and body care products are now touted by the likes of Kathy Ireland and Meryl Streep, and even “King of Instagram” Dan Bilzerian has a vape line. So, what remains? CBD oil (or cannabidiol), unlike THC, does not contain any psychoactive properties. The extract has been used for years for anything from arthritis pain management to anxiety relief and insomnia cure.
Walmart Canada Is Now Carrying Cannabis Vaporizers (Canada – Cannabis Products)
Leafly (October 30, 2018) When I heard that Walmart had started selling cannabis vaporizers, I drove to the nearest location at St. Clair and Runnymede in west Toronto. What can I say? I love watching medical cannabis make its way into mainstream consciousness. But after scouring store shelves, I came up empty-handed, and finally asked the pharmacist for help. “No,” he said, eyes narrowing. Was he judging me? I wasn’t sure. “We don’t have anything like that here.” As it turns out, Walmart stores likely will have something like that, just not quite yet.
Benefits Of Medical Marijuana Inspire Local Cannabis Cultivator (IL – Cannabusiness)
Chicago Sun Times (October 31, 2018) Cannabis cultivator Jessica Ryan had a deep personal connection to pot long before she started growing it. Ryan’s father was diagnosed in 2004 with Stage 4 nasopharyngeal carcinoma, a rare type of head and neck cancer. She believes marijuana was one of the things that kept him alive. “I saw him at his worst, on his death bed, and cannabis was the only thing that helped his nausea, sleep, pain and mental health,” Ryan said. After about a year and a half, the cancer was sent into remission. Given her experience, Ryan knew she wanted to get into the pot business as soon as former Gov. Pat Quinn signed Illinois’ medical cannabis pilot program into law in 2013. At the time, Ryan was “no stranger to plants.” She had graduated from Joliet Junior College with a degree in horticulture and greenhouse management and had worked a series of related internships and jobs.
The World Of Legal Cannabis: What To Know Before You Vote In November (ND – Recreational Cannabis)
My ND Now (October 31, 2018) On Election Day, you, the voters will decide if North Dakota becomes the 10th state to legalize marijuana. We know this is a major decision for voters, so as Your Local Election Headquarters we’re taking a look at how recreational marijuana has been working in states, where it’s already legalized. Recreational Marijuana isn’t just smoking a joint…it’s big business. So big….nearly 10 BILLION dollars of cannabis products were legally sold in 2017.