CCMA Political greenBrief
Friday, August 3, 2018
“With Colorado testing for only 13 harmful pesticides, cultivators are essentially directed to operate under the honor code. This means in order to game the system, all a producer must do is use a product unrelated to those 13. There are literally tens of thousands of pesticide products on the market that have been proven to be harmful to humans.”Ben Gelt, Board Chair Of Colorado’s Cannabis Certification Council, On Cannabis Testing Practices
“What is often lost in this discussion is the link between marijuana and serious, interstate criminal activity. Overproduction is rampant, and the illegal transport of product out-of-state — a violation of both state and federal law — continues unchecked.”Billy Williams, U.S. Attorney For Oregon, On The Problems Of Out-Of-State Trafficking & Illicit Market Grows
California’s Exploding Cannabis Industry Has A Surprising Problem With Cash (CA – Cannabis Banking)
The Street (August 3, 2018) California’s legal pot sellers have a problem: where to put the flood of greenbacks. Recreational cannabis sales kicked off in California on Jan. 1 of this year. At present, 10 states and Washington, D.C., have legalized the recreational use of marijuana. Cannabis remains illegal at the federal level, hence the inability of a bank such as Bank of Marin to accept deposits. When asked what cannabis sellers were doing with their cash, Colombo hinted probably stuffing it under a mattress.
Lagunitas Brewing Leads Rush By Beer Companies Into Cannabis Space (CA – Cannabusiness)
The Press Democrat (August 2, 2018) As the marijuana industry ramps up in California and other states in the aftermath of legalization, brewers are seizing an opportunity to collaborate on cannabis drink products to capitalize on this burgeoning and potentially lucrative sector. At the forefront is Lagunitas Brewing Co. of Petaluma, which has partnered with CannaCraft of Santa Rosa to produce a THC-infused sparkling beverage. The new product, which hit the market Monday, is flying off the shelves at licensed California dispensaries, said Bill Silver, chief executive officer of CannaCraft, which produces vape cartridges, oils, drinks and edibles from cannabis bought from local growers.
Back And Forward: Commercial Cannabis (CA – Cannabis Policy)
Comstock’s (August 3, 2018) Joe Devlin, chief of cannabis policy for the City of Sacramento, offers his insight into commercial cannabis real estate in the Capital Region. The leadership of the City Council. The council has been pragmatic and thoughtful from day one on this complicated and controversial issue. In a short time, we have adopted a comprehensive regulatory structure, crafted an equity program to support opportunity for persons impacted by the criminalization of cannabis, partnered in a countywide public health campaign and will be the first city to train cannabis retail employees on youth prevention.
Los Angeles Moves To License Pot Growers After Long Delay (CA – Cannabis Cultivation)
U.S. News (August 1, 2018) Los Angeles began accepting license applications from marijuana growers, manufacturers and testing companies Wednesday, after months of delays that left many businesses in the state’s largest legal marketplace struggling to survive. The start of the process arrived with a mix of relief and anxiety from businesses that have been waiting since Jan. 1, when California broadly legalized cannabis for adults, to enter the legal economy. Los Angeles was once expected to be a showcase for the state’s legal pot economy, but it has moved cautiously with licensing and its market has developed more slowly than in San Diego, Oakland and other major cities.
AUDIO: LA Voters Won’t Be Asked To Raise Cannabis Taxes In November After All (CA – Local Taxes)
KPCC (August 2, 2018) Last month, Los Angeles city council members decided to put a measure on the November ballot asking voters if they wanted to raise local pot taxes by another one percent. Licensed pot shop owners — who say existing taxes are already driving their customers to the illegal market — weren’t happy. This week, the city council doubled back, pulling the ballot measure.
In Some U.S. States, Most Legal Pot Goes Unsold (USA – Cannabis Sales)
CBS News (August 3, 2018) Two of the first states to broadly legalize marijuana took different approaches to regulation that left Oregon with a vast oversupply and Colorado with a well-balanced market. But in both states prices for bud have plummeted. A new Oregon report by law enforcement found nearly 70 percent of the legal recreational marijuana grown goes unsold, while an unrelated state-commissioned Colorado study found most growers there are planting less than half of their legal allotment — and still meeting demand.
The Cannabis Industry’s Go-Public Frenzy: A Chat With Companies That IPOed This Year (USA – Cannabis Investments)
Benzinga (August 3, 2018) The first half of 2018 was a notably active period in the cannabis industry, particularly on the capital markets side. Over the first six months of the year, more than $4 billion in investments were made in the industry, according to Viridian Capital Advisors. Some of the most notable transactions were cannabis companies that went public; here are some of the largest IPOs that took place between January and the end of June.
Molson Coors Picks Its Cannabis Partner: What It Means For Marijuana Stocks (USA – Cannabis Investments)
The Motley Fool (August 3, 2018) When Canopy Growth Corporation landed a partnership with — and a large investment from — Constellation Brands last year, it only made sense that major alcoholic-beverage makers would look to make deals with other Canadian marijuana-growers. The natural question was: “Who’s next?” We now know the answer to that question. On Wednesday, Molson Coors Brewing announced that it was partnering with The Hydropothecary Corporation, also known as HEXO, on a joint venture to develop cannabis-infused beverages. In addition, Molson Coors will receive warrants to purchase shares of HEXO.
Why Don’t More Doctors Prescribe Cannabis To Their Patients? (USA – Medicinal Cannabis)
Leafly (August 2, 2018) Even as support for medicinal cannabis gathers momentum among voters, physicians often remain hesitant or firmly opposed to recommending cannabis to their patients. Mostly, their hesitation stems from a lack of supportive data and strong clinical trials. But when it comes to cannabis, is the science really not sufficient to support its clinical use? To better understand why many doctors hesitate to embrace cannabis, let’s consider the factors that have plagued the pro-cannabis argument.
Cannabis Has No Effect On Exercise Performance, Breathlessness In COPD, Study Says (USA – Cannabis Use)
AJMC (August 3, 2018) The use of inhaled vaporized cannabis neither improved nor worsened exercise performance and activity-related breathlessness for patients with advanced chronic obstructive pulmonary disease (COPD), according to a recent trial published in the Annals of the American Thoracic Society. The researchers originally hypothesized that inhaled vaporized cannabis would alleviate exertional breathlessness and improve exercise endurance by enhancing static and dynamic airway function in those with COPD.
Should You Buy Pot Stocks Before Or After Legalization? (Canada – Cannabis Investments)
VICE (August 2, 2018) When Canopy Growth Corporation was first listed on the TSX Venture Exchange in April 2014, long before there was any prospect of the recreational legalization of weed, its stock was trading at a mere $2.59. It was only in November 2016, when legalization was officially announced, that Canopy’s stock started to pick up steam. At its height, Canopy stock was trading at over $44 per share — it now hovers in the $33 – $35 range, more than 10 times the value it was in 2014.
State Of Colorado “Mandatory Pesticide Testing” Does Little To Address Exposure To Toxic Chemicals In Cannabis Products (CO – Cannabis Research)
Cannabis Business Executive (August 2, 2018) Today the State of Colorado implemented “mandatory pesticide testing” for the first time. Many consumers may be surprised to learn that a highly taxed industry functioning within significant regulations in licensing, permitting and beyond, has little oversight on the pesticides used on plants that are ultimately consumed by humans. While Colorado has outlawed many pesticides and approved hundreds more for use, enforcement has been left in the hands of cultivators, leaving the potential that bad actors could take advantage of the system.
Oregon Has Too Much Marijuana On Hand, While Colorado’s Pot Supply Is Just Right (CO & OR – Cannabis Sales)
Colorado Public Radio (August 2, 2018) Two of the first states to broadly legalize marijuana took different approaches to regulation that left Oregon with a vast oversupply and Colorado with a well-balanced market. But in both states prices for bud have plummeted. A new Oregon report by law enforcement found nearly 70 percent of the legal recreational marijuana grown goes unsold, while an unrelated state-commissioned Colorado study found most growers there are planting less than half of their legal allotment — and still meeting demand.
Hawaii Cannabis Leaders Explore New Edibles Regulations And Employment Issues (HI – State Regulations)
Hawaii News Now (August 2, 2018) Less than a year after Hawaii’s first cannabis clinics opened, the laws on medical marijuana are still full of loose ends. Lawmakers are trying to figure out what new rules might be needed for the quickly growing industry. The state says about 10,000 new patients have received medical marijuana cards in the past three years for a total of nearly 22,000 licensed users. But what happens when they fail a drug test at work? Should they be protected from discipline? Or can employers fire them?