CCMA Political greenBrief
Thursday, September 6, 2018
Cannabis Industry Panelists Discuss CA’s “Growing Pains” In The Expanding Cannabis Industry Last Week In San Jose
“It’s not chaos, it’s not mayhem. It’s going pretty well.”Sean Kali-Rai, President Of SVCA, On California’s Cannabis Growing Pains
“The Veterans Medical Marijuana Safe Harbor Act would provide crucial medical and civil protections for the men and women who put their lives on the line to serve this country. It is unconscionable that these brave individuals who protect our nation’s freedoms would be treated as criminals when they return home just for treating their medical ailments with a safe and effective option.”Justing Strekal, Political Director For NORML, On A New Senate Bill That Would Allow Military Veterans Access To Medicinal Cannabis
California’s Illegal Weed Industry Is Doing Better Than Ever (CA – Illicit Market)
VICE (September 5, 2018) It was 2004 when William P. first got into the weed game. He was 18 years old and spent much of his life on the road, traveling between Oakland, Los Angeles, and San Diego to deliver chocolate edibles and sell weed. In the 14 subsequent years, he tried his hand at nearly every aspect of the cannabis supply chain, from starting a delivery service to hauling pounds of weed from the Emerald Triangle—Northern California’s famed farming epicenter—to dispensaries and buyers across Southern California. His plan was to secure a license and join California’s newly created legal market this year but “money talks,” as William said, and instead he ended up working with a illicit medical marijuana collective that funneled weed out of state, tapping into that “OT” or out-of-town money, as he calls it.
Researchers At UCLA Will Conduct Clinical Studies On Cannabis As A Painkiller (CA – Cannabis Research)
Marijuana Times (September 4, 2018) A little over twenty years has passed since cannabis was first legalized for medicinal purposes in California. In that time, 30 other states and D.C. also legalized the herb, but still, research on the plant – to understand how and why it provides many of the benefits that it does – is still highly limited, even if we know much more today than we did a couple of decades ago. Because of this, researchers at the new Cannabis Research Initiative (a first of its kind academic program dedicated to cannabis) at the University of California, Los Angeles are planning to conduct studies on cannabis’ effectiveness as a painkiller.
Pot Industry Panelists Address ‘Growing Pains’ Of California’s Newly Expanded Legal Market (CA – Cannabis Market)
San Jose Inside (September 4, 2018) Pot industry stakeholders gave their take on statewide regulations that went into effect this summer during a panel discussion hosted last week by the Silicon Valley Cannabis Alliance (SVCA) and California Cannabis Industry Association. California Cannabis Control Chief Lori Ajax and Jacklyn McGowan of Sacramento-based K Street Consulting played moderator to industry bigwigs like Harborside co-founder Anthony DeAngelo and Danny Nunan of edibles giant Korova during the Aug. 29 three-hour rooftop event at the Hammer Theatre.
California’s Cannabis Control Appeals Panel Appoints New Executive Director, Chief Counsel (CA – Cannabis Professionals)
Cannabis Business Times (September 5, 2018) The Cannabis Control Appeals Panel has appointed Anne Hawley as its new Executive Director and Christopher Phillips as its new Chief Counsel. Hawley has more than 25 years of government and private industry experience. Most recently, she served in several positions in the Office of Governor Edmund G. Brown Jr., where she collaborated closely with state leadership on project management, human resources, crisis management and public speaking. Christopher Phillips most recently served in several positions at the California Public Employees Retirement System, including staff attorney and senior staff attorney.
Few Crimes Linked To Legal Pot Dispensaries In First Half Of 2018 (CA – Cannabis Crimes)
Voice Of San Diego (September 4, 2018) Well into the first year of legalization, only a small number of crimes, nearly all of which are non-violent, can be attributed to San Diego’s legal pot shops. Those findings should reassure not just San Diegans who might live near or patronize a dispensary, but also officials across the county who’ve expressed concern that legal marijuana storefronts will attract crime. Facing possible ballot measures that would force legalization in their communities, some cities have urged voters to wait and see how the dispensaries perform elsewhere. They’ve also cited public testimony from former San Diego Police Chief Shelley Zimmerman, who warned the City Council that the negative impacts of marijuana businesses are “enormous.”
A Weed Campus The Size Of 8 Football Fields Is Coming To Cathedral City. Here’s How It Happened (CA – Cannabis Cultivation)
Desert Sun (September 5, 2018) On Ramon Road in Cathedral City, beams and walls are beginning to frame a structure so big, you could rebuild the Palm Springs Convention Center on top of the same footprint and still have space to spare. This is the future home of Sunniva, a Canada-based medical cannabis company that plans to grow, process and sell marijuana from a base in Cathedral City. The construction underway today – the portion larger than the convention center – is only the first of two buildings that will be built on the Ramon Road campus. When both buildings are finished, they’ll cover 489,000 square feet, or more than eight football fields.
Anti-Legalization Rep. Pete Sessions ‘Very Receptive’ To Medical Cannabis Group (USA – Medicinal Cannabis)
Marijuana Moment (September 5, 2018) Rep. Pete Sessions (R-TX), who has blocked roughly three dozen marijuana amendments from being considered on the House floor over the past several years, is now in ongoing talks with a group advocating for legal access to medical cannabis, his office announced. The news has taken some legalization advocates by surprise given the congressman’s ardent opposition to marijuana legislation and habit of impeding reform measures from advancing as chairman of the House Rules Committee. Sessions, whose son has Down syndrome, said in a newsletter that he shares a common interest with the group Mothers Advocating Medical Marijuana for Autism (MAMMA): namely, finding “solutions for our children to help improve their quality of life when nothing seems to help.”
Senate Bill Would Legalize Medical Marijuana For Military Veterans (USA – Medicinal Cannabis)
Forbes (September 5, 2018) Two Democratic U.S. senators filed legislation on Wednesday that would effectively legalize medical marijuana for military veterans and let government doctors help them access it. Under the Veterans Medical Marijuana Safe Harbor Act, Department of Veterans Affairs (VA) physicians would be empowered to issue medical cannabis recommendations in accordance with the laws of a growing number of states. The legislation, sponsored by Sens. Bill Nelson (D-FL) and Brian Schatz (D-HI), also makes it legal under federal law for military veterans to “use, possess, or transport medical marijuana in accordance with the laws of the State in which the use, possession, or transport occurs.”
Cannabis Stock Trading Volume Kicks Off In Fall (USA – Cannabis Investments)
U.S. News (September 6, 2018) Cannabis stocks are set to rise within a few weeks as their trading season is cyclical and typically kicks off in the fall. Retail investors should examine their current holdings since the sector’s seasonality means a surge in volume and liquidity from October through April. The trading season started earlier this year when Constellation Brands purchased a 38 percent stake in Canadian cannabis company Canopy Growth for $4 billion in August, says Michael Berger, founder of Technical420, a Miami-based company that conducts research on cannabis stocks.
Making The Case For Investment In The U.S. Cannabis Industry (USA – Cannabis Investments)
New Cannabis Ventures (September 6, 2018) David Wenger, a New York City attorney who has been closely researching the cannabis industry and making investments since early 2017 and serves as the senior editor of the Cannabis Law Digest, makes the case for investors to exploit what he calls an enormous valuation gap that has been created by the current federal law. In his White Paper “The Green Regulatory Arbitrage: A Case for Investing in US Multi-State Vertically-Integrated Cannabis Companies“, he discusses the industry’s legal landscape and its current regulatory status and then makes the case for the inevitability of federal legalization.
North American Spending On Cannabis Is Expected To Grow As Acceptance Spreads (USA – Cannabis Market)
MarketWatch (September 6, 2018) According to a report released by Arcview Market Research, in partnership with BDS Analytics, worldwide consumer spending on legal cannabis is projected to reach USD 57 Billion by 2027. Adult-use cannabis accounts for USD 38.3 Billion of total spending, while medical cannabis spending is expected to reach USD 19.1 Billion. North America is expected to have the largest spending volume during the forecast years. Furthermore, the report expects spending in North America to grow from USD 9.2 Billion to USD 47.3 Billion by 2027 and at a compound annual growth rate of 18%.
Fran Drescher Gets Frank About Cannabis And Why It’s Important To Living A Healthy Life (USA – Cannabis Lifestyle)
Forbes (September 6, 2018) From The Nanny to cannabis? How’s that possible? I had the opportunity to interview Drescher prior to the Cannabis Science Conference (CSC), where she was selected to speak as a longtime advocate and voice for change in the health and wellness space. “Fran Drescher has promoted alternative, holistic approaches, such as medicinal Cannabis through her organization, Cancer Schmancer,” commented Joshua Crossney, president, CEO, and founder at CSC Events, LLC. Like so many people who become truly enlightened by the weed’s powers out of need, Drescher had health issues bring her attention to the plant.
Why The World Is Watching Canada’s Pot Legalization (Canada – Legal Sales)
Bloomberg (September 5, 2018) All eyes are on Canada as it prepares to legalize recreational marijuana in October, becoming only the second country to do so after Uruguay. The pending change has touched off an investment boom and pushed up valuations of Canada’s cannabis producers. They’re enjoying a first-mover advantage as medical and recreational pot gain traction from the U.S. to Germany. Canada’s industry will also be the litmus test for whether governments can stamp out illicit sales, transfer billions of dollars in revenue to an emerging industry, generate taxes and create jobs.