Thursday, October 19, 2017
“To lessen the negative impacts of cannabis, you make it legal and you regulate it. If you try to ban it, because this is high value, you drive it into the black market.”
Bruce Gibson, SLO Supervisor On Dispensaries Ban
“Significant changes are already underway in California for medical cannabis and adult use laws, which we see will have major implications for the cannabis industry, including ecommerce and delivery services in the state.”
Giadha Aguirre De Carcer, New Frontier Data CEO
California’s Medical Marijuana Revenue Is Staggering (CA – Medical Cannabis)
The Fresh Toast (October 18, 2017) California’s legal recreational cannabis program will not begin until 2018, but that certainly doesn’t mean residents of the Golden State aren’t waiting. According to a comprehensive data analysis performed by BDS Analytics, California medical marijuana revenue is staggering. Dispensaries sold $894.85 million worth of cannabis products in the second quarter of 2017 alone. That figure is for medical marijuana. For comparison, in the same time period Colorado’s recreational market accounted for $516.39 million.
CA Adopts Cannabis Cultivation Environmental Standards (CA – Cannabis Cultivation)
San Mateo Patch (October 18, 2017) From the California State Water Control Boards: Tuesday, the State Water Board adopted a new statewide policy establishing strict environmental standards for cannabis cultivation in order to protect water flows and water quality in California’s rivers and streams.
How Does California’s Weed Compare To Oregon’s? (CA – Cannabis Industry)
The Portland Mercury (October 18, 2017) On January 1, 2018, California begins adult-use cannabis sales, and despite the awful wildfires that have wreaked havoc with Northern California’s cannabis crop, the state is still on track to become the largest recreational market in the country for cannabis. I’m in San Francisco as I write this, checking out how the state is prepared for a fully legalized recreational market. (I’ll be headed to LA for next week’s column—for a state that has the planet’s sixth largest economy, two columns barely scratches the surface.)
SLO County Board May Ban Marijuana Shops, Leaving Advocates ‘Shocked’ (CA – Cannabis Ban)
The Tribune (October 17, 2017) In a drastic change from previously proposed commercial marijuana policy, three of five San Luis Obispo County Board of Supervisors on Tuesday voted in a straw poll to ban medical and recreational dispensaries and prohibit manufacturing of edible goods in unincorporated areas of the county. Industry representatives at the hearing said they were “shocked” by the shift and that the board was “totally ignorant” about how the industry works.
Medical Marijuana Chocolate Maker Interested In Ceres (CA – Medical Cannabis)
The Ceres Courier (October 18, 2017) Ceres resident Bridget Ludy, founder of Bibby’s Chocolate of Modesto, approached the City Council last week, and asked to be involved in the city’s discussions in developing a framework for cannabis manufacturing in Ceres. Ludy, a four-time cancer survivor, said she hopes one day to have the city give her company a permit to manufacture medical marijuana chocolates in Ceres.
California’s First State-Compliant Medical Marijuana Dispensary “Jet Room” Opening In Adelanto (CA – Cannabis Dispensary)
247 Headline (October 18, 2017) Those in the Victor Valley who depend on the use medical cannabis (marijuana) for one of many physical and/or mental ailments will have the convenience of choices closer to home. The Medicinal Adult Use Cannabis Regulation Safety Act (MAUCRSA) compliant dispensary will be opening in early November at the Jet Room, located at 17499 Adelanto Road in the City of Adelanto.
At Least 31 Legal Cannabis Farms Have Been Destroyed In The California Fires (CA – Cannabis Industry)
The Cannabist (October 18, 2017) Desperate to see if wildfires had damaged his farm, Marcos Morales gunned his four-wheel-drive station wagon along the hidden dirt roads that crisscross Sonoma County vineyards. After evading police roadblocks and passing vintners’ well-tended pools and houses, he finally arrived to a disheartening sight: Scores of his marijuana plants had been destroyed, and a barn that held 1,600 pounds of ready-for-market pot was a smoldering ruin.
SICPA Announces New Cannabis Tracking Program Contract With Humboldt County, California (CA – Cannabis Program)
Cannabis Business Times (October 18, 2017) Following a successful six-month pilot program, SICPA, a global leader in security solutions for regulated products, today announced that it has signed a contract with Humboldt County to provide a comprehensive track and trace solution for locally-produced cannabis. SICPATRACE Cannabis provides increased transparency and accountability in the cannabis supply chain from seed to sale.
California Infused Products Manufacturer Plus Raises $2 Million (CA – Cannabis Money)
New Cannabis Ventures (October 18, 2017) Plus, the cannabis infused products manufacturer, is pleased to announce the closing of its Series A financing (the “Financing”). The Financing was comprised of $2 Million USD of Series A Preferred Stock (the “Shares”), and was led by The Green Opportunity Funds (TGOF). Following the financing, Matt Schmidt of TGOF will join the Plus Board of Directors. The net proceeds raised through the Financing will be used for general corporate purposes and for the development of an automated production line.
Medical Marijuana Positioned To Become Major Part Of Pharma Industry (CA – Medical Cannabis)
The Fresh Toast (October 18, 2017) According to a research report by New Frontier Data, medical marijuana sales are forecast to grow to $5.3 billion in 2017, accounting for 67 percent of total cannabis sales. Medical sales in currently legal states are forecast to grow to $13.2 billion by 2025, at which point medical sales will account for 55 percent of all sales. In comparison, adult-use sales in 2017 are forecast to reach $2.6 billion, rising to $10.9 billion by 2025.
Jeff Sessions Says It Would Be ‘Healthy’ To Have ‘More Competition’ Among Medical Marijuana Growers For Research (USA – Cannabis Legalization)
Business Insider (October 18, 2017) Attorney General Jeff Sessions said he wants to see “more competition” among medical marijuana growers who supply the plant to researchers, in his Wednesday morning testimony before the Senate Judiciary Committee. Sen. Orrin Hatch, the Utah Republican, asked Sessions to “clarify” the Justice Department’s position on applications from private companies and research institutions to supply researchers with medical-grade marijuana.
Hatch Has High Hopes For Medical Marijuana Bill (DC – Medical Cannabis)
Roll Call (October 18, 2017) Sen. Orrin G. Hatch is an unlikely advocate for a medical marijuana bill. An 83-year-old Utah Republican and member of the Church of Jesus Christ of Latter-day Saints, Hatch says he is staunchly against recreational drug use. But as the opioid epidemic continues to ravage states across the country, the Senate’s president pro tempore sees an opportunity in advancing the use of cannabis for pain management.
Pennsylvania Allows First MMJ Producer To Begin Production (PA – Medical Cannabis)
Ganjapreneur (October 18, 2017) Cresco Yeltrah has been given the greenlight by the Pennsylvania Department of Health to begin medical cannabis production – it is the first licensed operator to receive the go-ahead in the state. The firm, one of 12 licensed in Pennsylvania, is based in Jefferson County, northeast of Pittsburgh.
130-Acre Medical Marijuana Development To Provide 1,000 New Michigan Jobs (MI – Cannabis Jobs)
MLive (October 18, 2017) The demand is there – Michigan has about 220,000 medical marijuana card holders. The Harvest Park development in Eaton County will be one of the first facilities to serve them as the state of Michigan begins to open up licensing for such projects.
Michigan Gov. Appoints 7 To MMJ Advisory Panel (MI – Cannabis Regulations)
Ganjapreneur (October 18, 2017) Michigan Gov. Rick Snyder has appointed seven members to the state’s Marihuana Advisory Panel, including representatives for law enforcement, physicians, patients, counties, and towns. Snyder is also tasked with appointing another five members to the panel representing cultivators, processors, dispensaries, and safety compliance facilities but according to the governor’s office, those appointments will wait until after the new medical cannabis licensing regime takes effect in December.
Hawaii Licenses 2nd Testing Lab (HI – Cannabis Testing)
Ganjapreneur (October 18, 2017) Hawaii’s second medical cannabis testing lab has been licensed and can begin testing products immediately, according to a KITV report. Pharm lab Hawaii is expected to test products for dispensaries on Maui; Steep Hill Hawaii, located in Oahu, was approved to test products in July and until now have been the sole testing facility in the state.