The latest report on the recreational cannabis industry in California reveals aggregate profits of about $345 million – not $1 billion as was anticipated in its first year. A new report by the state’s Cannabis Advisory Committee, revealed in-depth that one of the biggest drags on the market is dilution due to black market sales of the drug – often cheaper and more accessible than legal purchases from a licensed dispensary – creating unfair competition. Los Angeles marijuana business attorneys know the complex regulatory system doesn’t help.
Gov. Gavin Newsome, a staunch proponent of recreational marijuana legalization who received some $340,000 in campaign contributions from the cannabis industry, said it could take at least five years before the market truly hits its stride. One strategy by the state has been to extend timelines to licensed businesses to comply with all aspects of complicated state and local regulations. However, some evidence suggests this could be hampering business for those already in compliance. Part of the problem also has to do with the fact the state lacks adequate resources to enforce the laws. Pot shops also pay hefty taxes and must invest in significant resources to manage a cash-only operation.
Recently, the governor announced plans to expand the effort to shutter illegal cultivation of marijuana, particularly those operated by international drug cartels in Northern California. Specifically, he’s lending expanded aid from the California National Guard to assist the federal government in cracking down on black market marijuana operations. Analysis by New Frontier Data, a private …
This week Craig welcomes Internet Savvy #Instagrammer and Model SavvyStonedGirl to #Studio710. Tha Big Puffa brings music from Tee Krispil for Dab Time, Al The Alchemist brings some dope gear during Expert Selections, and gives us a few Grow Tips… plus Kass & Honey are back to hang out too. Join the live-chat here. Now find […]
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A mother in Brandon, Manitoba is speaking out about a scary ordeal that unfolded in her household after her two young children accessed a hidden stash of cannabis-infused edibles. The woman, who has not yet been identified by the media, discovered that her five-year-old son had climbed up onto a counter to access a kitchen […]
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CALGARY and SANTA ROSA, CA, Feb. 19, 2019 /CNW/ – Gabriella’s Kitchen Inc. (“GABY” or the “Company”) (CSE: GABY), an innovative and leading-edge cannabis wellness company, is pleased to announce a joint venture (“JV“) with Eximius Coffee LLC (“Eximius”) to launch a line of cannabis and CBD infused coffee beverages and infused single-serve grounds suitable for steeping. […]
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(Written by Ted Smith, the founder of Victoria Cannabis Buyer’s Club) Tomorrow is the public’s last opportunity to send comments to Health Canada regarding regulations controlling the production and sale of edible and topical cannabis products, as well as other concentrates! This is a common tactic of Health Canada; They give interested taxpayers two months […]
The post LAST CHANCE TO COMMENT ON CANNABIS EDIBLE’S 10 MG THC LIMIT appeared first on Cannabis Life Network.
Bhang to host sensory sessions at 180 Smoke locations across Toronto to educate Canadian consumers on proper edibles use in advance of legalization Sessions highlight Bhang’s focus on leading the expanding cannabis marketplace with an unmatched portfolio of award-winning brands LOS ANGELES (GLOBE NEWSWIRE) — Bhang Corporation (“Bhang” or the “Company”) announced on Feb. 13 that it […]
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Could green be the new color of gold? More precisely, could the leafy green plant called cannabis become more valuable than gold? You can build computers with gold. You can make jewelry with gold. One thing gold doesn’t do very well is providing any form of relief from medical conditions. Cannabis, on the other hand, […]
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A Cannavape survey in the UK asking public opinion on cannabis-derived medicine revealed an interesting and unexpected divide between the older and younger generations. The survey’s 2000 respondents were asked about the legalization of cannabis-derived medicine which occurred on Nov. 1, 2018, which was when the UK made it available with a prescription. The survey […]
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CALGARY /CNW/ – Sundial Growers Inc. (Sundial) is proud to announce that it has been cleared by the Saskatchewan Liquor and Gaming Authority (“SLGA”) on Feb. 14 to supply cannabis to Saskatchewan Retail and Wholesale Permit Holders. Sundial will start supplying cannabis products to retailers in the province this year. “As part of our overarching strategy to […]
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VANCOUVER, British Columbia (GLOBE NEWSWIRE) — Choom (CSE: CHOO); (OTCQB: CHOOF) is pleased to announce that it has entered into a letter of intent agreement (“LOI”) with one of the 25 Cannabis Retail lottery winners to open a location in Ontario. Choom, an emerging adult use cannabis retailer, is building out one of the largest […]
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All Harvest One Medicinal Products Sold Online to Begin Carrying BLOCKStrain-Verified Seal of Authenticity VANCOUVER /CNW/ – BLOCKStrain Technology Corp. (TSX:V: DNAX) (OTC: BKKSF) (“BLOCKStrain“), creator of the first Blockchain-secured, fully-integrated IP tracking platform for the cannabis industry, announced on Feb.14 that Harvest One Cannabis Inc. (TSX:V: HVT) (OTCQX: HRVOF) (“Harvest One“), a Canadian licensed producer […]
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Ascent Industries is making headlines and the reasons why are very, very bad news for investors that could mark the beginning of the end for the embattled cannabis producer. Today, Ascent announced its wholly-owned subsidiary in Nevada, Sweet Cannabis, “has received notice… of the potential suspension, revocation or non-renewal of Sweet Cannabis’ Master Marijuana License […]
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Medical marijuana has long been known to be effective in treating conditions like anxiety, post-traumatic stress disorder and chronic pain. Yet the U.S. military has long taken a hard-line stance against marijuana, a position solidified during the Vietnam War as reports blasted on the evening news indicated that half of all soldiers deployed were regularly using marijuana. A study by the Pentagon later revealed the actual figure was closer to 70 percent. This, along with the crash of an aircraft carrier by soldiers later found to have marijuana in their systems led to a zero tolerance policy.
This has led to all sorts of injustices. Historically, it’s been military policy to exclude from entrance any individual who previously used marijuana as a civilian. In recent years, waivers for “past misconduct” have risen, and are expected to continue rising. Just last year, for instance, the Military Times reported a Vietnam War veteran and head of a military school in Florida was terminated for using medical marijuana extract to treat cancer.
Now, Congressional leaders have filed twin bills in the House and Senate to change federal law that would allow U.S. veterans who abide by state medical marijuana laws to avoid federal intervention and would allow doctors with the Department of Veterans Affairs to issue medical marijuana recommendations to their patients. The Veterans Medical Marijuana Safe Harbor Act, sponsored by U.S. Senate Democrats from California and Hawaii, notes that the drug is legal in 33 states and that medical marijuana can be used to treat chronic …
Love is in the air, or is that just linalool? Linalool is a terpene for romance, an aromatic component in numerous essentials oils and cannabis strains, packing the most punch with a pungent yet pleasant odour. Several varieties of linalool exist, known as isomers. This includes, but is not limited to, the main D-linalool, alongside […]
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Leaders in luxury are looking to grace their way into marijuana product sales in Los Angeles, with a high-end New York retailer inking a partnership with an upscale cannabis firm to offer a large line of cannabis accessories and “lifestyle products” under the business model concept of a “wellness shop.”
Los Angeles marijuana retail attorneys recognize the ways in which this illustrates the many ways in which ancillary companies can break into the bud-tending business. Because marijuana is such a versatile plant – used in everything from medicine for seizures and anxiety to shampoo – we’re likely to see more of these non-traditional dispensaries on the horizon.
These companies need the advice and guidance of a dedicated Los Angeles retail marijuana lawyer to help them navigate the complex legal landscape, ensuring they can offer their products in a way that aligns with state and local regulations – to protect their brand and their assets.
The partnership between Barneys New York with a Los Angeles cannabis company will be called,”The High End,” slated for launch in March. A spokesperson for Barneys noting many customers have made cannabis a part of their lifestyle, and they intend to offer them a range of products that align with that lifestyle – everything from leather ashtrays, gold rolling paper and custom glass blown pipes to grinder necklaces and scent products. Top name designers are going to be launching their own individual creations for sale. Online sales will also be allowed, with white-glove delivery service in California.
Creative New Cannabis …
Join Craig Ex Thursday at 4:20 PM PT from the #Studio710 Green Room, for a special Valentine’s Day episode of “Expert Joints LOVE!” Join the live-chat here. This week Craig welcomes Talia aka Hiiighvibes to the show for a special Valentine’s Day themed episode, featuring food by The Budder Chef Adam Barski, Dab Time with Tha […]
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We explain the basics of hemp wick and how and why to use it.
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The passage of the Cannabis Act back on Oct. 17 was a landmark moment for cannabis in Canada which heralded the country’s most substantial shift in drug policy in decades. But despite Canada’s giant leap forward to more sensible cannabis laws, some things never change, like the age-old battle between 420 Vancouver organizers and the […]
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If you are operating a marijuana business in Los Angeles County without a license: You’re probably going to want to promptly seek legal representation from lawyers with longtime experience in state and federal marijuana criminal and civil cases. The California Bureau of Cannabis Control reported it had carried out search warrants on two businesses – one in Los Angeles County and the other in Sacramento County – for allegedly operating an unlicensed cannabis company.
January 9th marked the end of what state regulators called the grace period for unlicensed marijuana businesses across the state. This was akin to a warning shot, with the agency noting the several hundred unlicensed marijuana retailers and delivery services statewide are “taking their chances.” Even if they do close shop, there is no guarantee authorities wouldn’t take action after the fact, though it’s more probable they’ll want to pursue action against those in active operation.
Licensed L.A. marijuana retailers have been complaining for the last year that black market operators were undercutting their sales with an unfair advantage. The Sacramento raid stemmed from a complaint filed with the BCC, though the agency didn’t indicate where the tip originated.
Many of the shops slated to be targeted were formerly collectives and co-ops allowed to operate through last year despite not having a license. They had protection from state prosecution as designated medical collectives, but that expired officially last month. Unfortunately, while many of these collectives were long-standing, there aren’t that many licenses to go around. Some smaller marijuana businesses may …
When medical marijuana dispensaries and collectives first started cropping up around California in 1997, they had to heavily guard their assets – both product and cash. Banks, cowed by federal law that might ensnare them on criminal money-laundering charges, denied accounts to almost everyone who profited from cannabis, a Schedule I narcotic. Being state-legal didn’t matter.
More than 20 years later, although California was late to join the recreational sales party, our Los Angles cannabis lawyers have seen so much of the legal landscape change. Profits are not only allowed, but encouraged. Collectives and co-ops were outlawed as of last month. Businesses are licensed and heavily regulated and taxed. Everything from seed-to-sale is tracked and tested by outside labs.
And yet: Most Southern California marijuana businesses still can’t convince banks to do business. That means in a world where e-commerce is booming, retail stores are shuttering and most people pay with plastic, marijuana businesses can’t move money electronically. So every time cash must be moved – to pay a vendor or file taxes – it’s almost always coordinated with teams of gun-strapped security officers (many ex-military) and armored cars, equipped with bullet-proof glass and high-end GPS tracking.
Los Angeles marijuana business asset protection lawyers know that beyond just being inconvenient and unnecessarily expensive and inefficient – physically moving cash is still very dangerous. It’s an issue many of our clients in Southern California frequently lament. They want to bank like every other business, and wish the federal law that still subjects their firms to …
Years ago, you could call your Los Angeles pot product pretty much anything you wanted, and not only would you find a market for it, you were unlikely to face costly litigation if you swiped someone else’s style. As marijuana increasingly gains legitimacy across the U.S. (now fully legal in Canada), preserving your budding cannabis brand is becoming a significant legal issue for Los Angeles marijuana businesses. Our California cannabis attorneys can help you in this and other endeavors in launching – or rebranding – your legal marijuana business.
As NBC Los Angeles recently reported, now that regulations in the year-old recreational marijuana industry are beginning to settle, some companies are revamping their whole image in an effort to appeal to a wider audience. (Years of “reefer madness” propaganda, a spotty patchwork of state medical marijuana statutes and a spate of federal raids hadn’t helped the industry’s image.)
Building on this previously-untapped market, long-time dispensaries are taking a new tact on branding, while those just breaking into the market are working on forging their recognition for the first time. Unfortunately, because federal law – specifically the U.S. Controlled Substances Act – remains at odds with the now-majority of states that legalize the drug in some form, not all types of intellectual property protection are available to marijuana businesses. Nonetheless, acting on available protections now can help combat copycats in the present while better positioning them to seize further opportunity if/when the government does repeal the CSA.
What Exactly is My Marijuana Business Brand and …
CALGARY, Feb. 12, 2019 /CNW/ – High Tide Inc. (“High Tide” or the “Company”) (CSE:HITI) (Frankfurt:2LY) today announced that, subject to regulatory approval, the Company has been selected to assist with the establishment and operation of a retail cannabis store by a second winner of one of the 25 opportunities to apply for a licence to operate […]
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Marijuana business entrepreneurs are increasingly striking green in the Golden State. If you’re looking to launch a new pot shop or any company ancillary to the cannabis industry: California is a prime location. Our Los Angeles marijuana business attorneys could have told you that, but this comes from a new report by FitSmallBusiness.com, which ranked California the No. 5 best state in the U.S. for cannabis start-ups.
The study analyzed numerous factors, including how easy it is for a new business owner to enter the market, what it costs to do so, how much you’ll pay in taxes, how many laws and regulations exist and the overall market opportunity.
Oregon wrestled the No. 1 spot, Colorado No. 2, Michigan No. 3 and Alaska No. 4.
The fact that we aren’t first – despite being the biggest legal marijuana market despite being the largest marijuana market – was attributed largely to our patchwork of laws and hefty taxes (15 percent excise and a sales tax for recreational product). There’s also a mid-range startup fee – $5,000 for business applications. Compare that to Oregon where the fee is a cheap $250 but then also to Illinois, where a cultivator licensing fee costs $200,000 – all but ensuring any prospective small business owners would be pushed out.
Still, California secured the most recreational marijuana revenue of any in 2018 – it’s very first year – at $2.75 billion. Yes, it’s true California has more people – but that’s to the advantage of a burgeoning bud-minded business. …
Recreational marijuana use has been legal in California now for little more than a year, but access to the drug remains scarce in some regions. That’s why some – including those who seek non-psychoactive CBD oil – are relying on a technology app called Weedmaps to help them locate the nearest provider. Our Los Angeles marijuana attorneys are aware this has generated a few problems stemming from the fact that a number of the providers listed on the platform aren’t legally allowed to operate by the state and have not been subjected to the same rigorous quality assurance regulations as legal marijuana businesses.
From a patient’s perspective, that means the product they are receiving may not be 100 percent safe or accurately-labeled with proper potency levels. From the perspective of marijuana businesses, these other companies have carved an unfair advantage over them because they operate in regions they do not and/or have not had to pay the mountains of fees for taxes, licensing, workers’ compensation and quality assurance testing. From the state’s perspective, these businesses are flouting the regulatory framework of the law.
As reported by Wired.com, marijuana businesses can list their services on the site for free, but top billing requires an advertising fee. Some companies pay as much as $20,000-a-month for top-level billing on the site, which doesn’t vet firms to see which are technically legal and does not indicate those pot shops that pop up first on the site have paid for that placement.
With tax season in full swing, the deadline approaching April 15th, California cannabis companies and growers are hauling in piles of cash to government offices to ensure their taxes are paid. However, neither those firms or government employees are keen on dealing with the archaic process of hand-counting dollars. Yet as our California cannabis business attorneys can explain, these tax woes are indicative of the long-standing and much bigger problem: Marijuana businesses can’t access banking.
Despite the fact that now 10 states plus the District of Columbia have marijuana legal for recreational purposes (1 in 4 Americans lives in a state where recreational use is legal), the federal Controlled Substances Act that still designates marijuana as a Schedule I narcotic means banks are reticent to get involved. Doing so could risk the U.S. Department of Justice coming after them for money laundering. Recently, The Modesto Bee reported the U.S. House of Representatives intends to hold hearings on bills that, if passed, could allow marijuana companies easier access to banking services – some six years after states started legalizing the plant for recreational use. It’s not the first time the issue has been raised, but it had always stalled in the past with Republicans being the Congressional majority – even when, as recently as 2017, the House bill had 95 bipartisan co-sponsors and a sister measure in the Senate had 20.
Lawmakers from Colorado and Washington are sponsoring a new marijuana banking bill that cannabis lawyers in Los Angeles know could help these companies – …
TORONTO/CNW/ – Namaste Technologies Inc. (“Namaste” or the “Company”) (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) provided the following letter to its shareholders on Feb. 8, 2019. Dear fellow shareholders, I want to thank all our shareholders for your continued support for our company over the past week. I know a lot of you have questions […]
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TORONTO (GLOBE NEWSWIRE) — Biome Grow Inc. (CSE: BIO) (Frankfurt: 6OTA) (OTCQB: BIOIF) is pleased to announce it has released its first shipments of finished product to Newfoundland and Labrador. Products are expected to be delivered directly to retail locations across Newfoundland and Labrador and accessible to consumers next week. A second shipment of finished product will […]
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CALGARY /CNW/ – Sundial Growers Inc. (Sundial) is pleased to announce that it has received licence amendments from Health Canada for an additional 140,000 square feet of cannabis cultivation at its flagship facility in Olds, Alberta. Each of the 40 newly licensed Solaria Modules have been purpose-built for the cultivation of high-quality, small-batch cannabis using an […]
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Valentine’s Day is just around the corner. If you’re in a relationship, it’s time to get that special someone something special to let them know just how much you care. At least that’s the precipice behind this Hallmark holiday. Personally, anytime is a great time to get someone you love something special. Valentine’s Day is […]
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TORONTO, Feb. 8, 2019 /CNW/ – The Green Organic Dutchman Holdings Ltd. (the “Company” or “TGOD”) (TSX:TGOD) (US:TGODF) is pleased to announce that it has secured a cannabis supply agreement with the Ontario Cannabis Retail Corporation. Brian Athaide, Director and CEO, said: “Ontario has the largest population in Canada and is a critical component to […]
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In the latest episode of Chronic Cooking, Craig Ex aka The Expert of Expert Joints, shows you how to make delicious, homemade cinnamon buns. If you thought he could roll a joint, just wait ’til you see him roll up these cannabis-infused goodies. While the cinnamon buns take a little while to make, they’re well […]
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On Feb. 7, Ascent Industries, the parent company of licensed producer Agrima Botanicals, issued an update on its subsidiary’s ongoing licensing saga, and it’s not looking good for Agrima or Ascent Industries. According to a statement from Ascent: “Health Canada has repeated its previous position that the Company [Ascent Industries] has failed to demonstrate that […]
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This week Craig welcomes the Baked Beavers stars of “Regular Canadians Enjoying Weed” Kass & Honey to #Studio710. Tha Big Puffa brings music from Kush Kelz for Dab Time, and the new Chronic Cooking video makes it’s debut too. Join Craig Ex Thursday at 4:20 PM PT from #Studio710 for another episode of #ExpertJointsLIVE! Want to […]
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America’s first Cannabis Mall Distribution opening shortly Expanding footprint across California, expanding brand portfolio COCONUT CREEK, Fla., Feb. 04, 2019 (GLOBE NEWSWIRE) — Global Consortium, Inc., (OTCPINK: GCGX) is designing and building out America’s first “Cannabis Mall”. The Cannabis Mall, when completed will house Manufacturing, Distribution, Delivery, Retail and Cultivation all under one 64,000 square foot […]
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Licensed cannabis producer Bonify had its license suspended on Feb. 4 by Health Canada after it was found selling unregulated cannabis. According to Health Canada spokesperson Eric Morrissette: “The department found that Bonify Medical Cannabis was possessing, distributing and selling product that was purchased from an illegal source, and selling product that did not comply […]
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VANCOUVER, Feb. 4, 2019 /CNW/ – Zenabis Global Inc. (“Zenabis”) (TSXV: ZENA) is pleased to announce that it has entered into a supply agreement with Shoppers Drug Mart. Shoppers Drug Mart may purchase dried marijuana and cannabis oil (once Zenabis receives its licence to sell oil) from the Zenabis medical branded product line, subject to any […]
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TORONTO, Feb. 5, 2019 /CNW/ – Target Group Inc. (OTCQB: CBDY) (“Target Group” or the “Company”), is pleased to announce, that effective January 25, 2019, it has entered into an agreement to acquire Massachusetts-based CannaKorp Inc. (“CannaKorp”). CannaKorp is the holder of the patent-pending WISP™ vaporizing system. The WISP™ is a pod-based, herbal vaporizing system that uses […]
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Why Blood? You can drink a beer without blowing over the limit, but how about a puff on a joint without enriching your blood with THC above Canadian per se law? As I discussed, saliva testing for cannabis has been left on the curb because of an official research group’s incompetent suggestions. The Canadian Society […]
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The Medical Board of California has revoked the medical license of a physician alleged to have violated the standard of care in prescribing medical marijuana to a 4-year-old child. In the case of The Medical Board of California v. Eidelman, the case was opened seven years ago, but the board revoked his license in December. Last month, the Superior Court of California, County of San Francisco, issued an order barring the physician from treating patients under the age of 18. San Bernardino medical marijuana attorneys understand the order also barred the physician from issuing any recommendations for cannabis as a treatment for minors.
As San Bernardino medical marijuana attorneys at The Cannabis Law Firm can explain, a medical marijuana prescription is the only means by which a person under 21 can lawfully obtain cannabis in California. HS 11361 prohibits anyone over 18 from “furnishing, administering or giving any cannabis to a minor” under the age of 14, with conviction warranting a state prison sentence of 3-5 years. Both parents of children considering pursuing a medical marijuana prescription for their child as well as doctors need to be aware of how the law is applied, under what conditions an adult can be considered in violation of the law and what steps are needed to ensure your legal protection.
The state medical board issued medical marijuana prescription guidelines last April for doctors.
The guidelines indicate:
- There must be an established physician-patient relationship, meaning they have taken responsibility for an aspect of the patient’s medical care,
It is difficult to say when exactly CBD derived from cannabis ceased to be demonised and when it became a generally accepted cure for everything. Perhaps it was in January when Mandy Moore, a few hours before the Golden Globes, told Covetherovius that she was experimenting with CBD oil to relieve the pain caused by […]
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On Feb. 1, the Save Our Dispensaries protest went down at Vancouver City Hall as the city’s unlicensed dispensaries continue their fight to stay open. The crowd of dedicated cannabis activists braved the February cold and rain, getting their message out via megaphone and signs like “Fuck LP’s They Just Want Money” and “It’s Legal. […]
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CLN contributor Cheddar was in Japan checking out Magokoro, a small restaurant in Kamakura, a city famous for its giant Buddha statue that’s located less than an hour south of Tokyo. What makes it unique is that Magokoro is one of the only restaurants in Japan that specializes in hemp. Magokoro is a cafe/bar during […]
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Marijuana first became legal for recreation among adult users in January 2018. With that, Los Angeles marijuana tourism is taken off, with several ancillary businesses cropping up specifically catering to those who are here for the cannabis. Among the various companies that have entered the fray:
- Tours (including bus tours)
Some tours offer scenic drives, glass-blowing demonstrations, food, a chance to smoke with Tommy Chong and more.
Los Angeles marijuana tourism attorneys know that some firms had a bit of a struggle making their way into the fray, given that legal marijuana is approximately 35 percent higher cost than what is available on the black market. Medical card recipients pay a bit less, given that they aren’t subject to the state excise tax. Aside from them, people who come to California specifically for this purpose don’t seem to mind too much paying the extra cost, given that they’ve come for the experience – and to revel in the ability to enjoy their buds without worrying about a bust.
Companies latching themselves to these opportunities have the potential to make decent profits – but only if they can establish themselves in a way that minimizes the risk of their own liability. That includes, firstly, the potential liability that any tour company catering the imbibing crowd might need to consider.
The possibility that someone with a pre-existing condition might suffer a health emergency on the tour as a result of consuming the drug, thereby leaving them susceptible to injury or permanent disability.
Stepping Stone Holistic Living, a cannabis dispensary on Kingsway, was robbed at gunpoint by 2 masked men just after 5 pm on Sunday, Jan. 27. During the robbery, a male bystander, who the Vancouver Police Department called a customer, was shot, and the 32-year-old man was taken to hospital with “non-life-threatening injuries”. According to a […]
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VANCOUVER, British Columbia, Jan. 29, 2019 (GLOBE NEWSWIRE) — Grow Tech Labs (GTL), a Cannabis Business Accelerator, announced the development of a co-operative for small cannabis producers and processors in BC to help maintain the province’s historic position as a global cannabis leader. In partnership with Victory Square Technologies (CSE:VST), Grow Tech Labs is inviting small cannabis […]
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California’s marijuana industry is seeing some major money, with investors pouring millions of dollars into new bud ventures. Recently, Esquire reported San Francisco 49ers football legend and four-time Super Bowl champion Joe Montana was part of a $75 million investment made on a California marijuana company. Our Los Angeles marijuana investment attorneys know this was actually the second time Montana had gone in on such a venture, the first time pouring funds into a Canadian marijuana media company called Herb, which as of mid-2017 had raised $4.1 million to expand its venture to the U.S.
Montana explained his reasons as somewhat philanthropic, saying he supports the industry as a whole because he believes in the power of the plant to offer pain relief with the potential to blunt the raging opioid crisis. (A number of retired football players have said they prefer pot for pain management.) And yet, he himself won’t cop to being a cannabis user, something that still apparently speaks to the stigma that followed the drug for so long. There is also a possibility that he, like many marijuana investors, is reticent to speak too much no the topic given the fact the drug is still illegal at the federal level.
Los Angeles marijuana investment attorneys know that first of all, the profile of cannabis company investors differs from that of the norm. Part of this is because many of the cannabis start-ups are simply too small to go for the big fish. What they can do is seek buy-in …
This week Craig welcomes the delicious CBD folks from Delush CBD to the show, and Tha Big Puffa brings new music for Dab Time. He’ll also get a few Grow Tips, and Puff Puff Pass It Along too. Join Craig Ex every Thursday at 4:20 PM PT from #Studio710 for another episode of “Expert Joints LIVE!” […]
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The appointment of Jeff Sessions to the office of U.S. Attorney General had many pro-marijuana advocates in California and throughout the country on edge. Sessions was known to take a hard line against all drugs, and marijuana was no exception. Those fears were confirmed when Sessions formally rolled back the Cole Memo, a federal directive under the Obama administration not to pursue criminal actions or civil forfeiture against marijuana businesses that were abiding state law. Sessions even declared at one point that people who use marijuana were “not good people.”
After Sessions resigned (forced to leave, one could argue), there was concern President Trump’s next appointment would be more of the same. Those fears weren’t quelled when he named Bill Barr to take the post. TheGrowthOp dubbed Barr, “a well-documented drug warrior.” Barr previously served as attorney general during the George H.W. Bush administration, and during that tenure garnered a reputation for escalating the drug war back in the 1990s. He’d called for the construction of more U.S. prisons in order to lock up more drug offenders, most of whom were in hot water over crimes related to marijuana. It didn’t seem like much would change after he signed a Washington Post editorial published in November came out in swinging support of Sessions, calling him “outstanding” and praising him on his tough-on-crime approach to drug dealers.
But then, as reported by VOX, Barr responded to U.S. Senators preparing to hold his confirmation meeting that he would not be pursuing a crackdown against legal …
Cannabis dispensaries share many characteristics with companies in other industries, so they can use the same basic financial and management strategies in most cases. However, dispensaries and other enterprises related to cannabis face a few challenges and opportunities that members of other industries don’t. While there is a lot of potential profit in cannabis production […]
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The California marijuana industry and those who advocate on its behalf have fought tooth and nail for every inch of its legitimacy. Now, our Los Angeles marijuana lawyers know we may be facing the biggest hurdle yet: Getting legal buyers in the door.
The New York Times recently reported anticipated tax revenue drawn in by the California legal pot market were disappointing. Although the industry generated more than $2.5 billion last year, the state still overshot its anticipated take by more than $100 million. Even worse – that figure was half a billion less than sales in 2017 – when recreational marijuana wasn’t even legal in California yet.
It’s not that pot shops don’t want to pay the piper. The problem is that at rates that high ($150 per pound on cultivators and 15 percent by recreational retail buyers) it creates incentive for consumers to buy their buds from elsewhere. It also doesn’t help that the regulatory requirements laid out by the Bureau of Cannabis Control require extensive testing of products, which also costs a pretty penny. This two combined are taking a financial toll that has meant that buyers of recreational marijuana are paying significantly more for legal cannabis – and most would rather not if there is an alternative.
It seems getting people to overwhelmingly agree to allow legal marijuana was the easy part. Convincing them to pay more to buy it legally is turning out to be a harder sell.
Los Angeles marijuana business lawyers know that this contrasts with how …
Lawmakers in California are exploring ways to ease the financial pressure many pot companies are under, with many saying lowering taxes on cannabis products being one of the best ways to facilitate real competition against the black market. Our Los Angeles marijuana lawyers know this has resulted in serious struggle for some shops in the last year since recreational marijuana hit the market. The AP reports a number of marijuana industry-backing state legislators have proposed a measure that would cut taxes for these firms and offer a much-needed jump-start needed to get back in the game.
Assembly Bill 286 proposes to:
- Temporarily lower from 15 percent to 11 percent the tax legal buyers pay when they purchase from a California dispensary
- Ax the nearly $150 tax applied per pound on farmers – at least for the next three years.
Analysts say sales of legal marijuana in the last year from $3 billion in 2017 to $2.5 billion in 2018. This is of huge concern because in 2017, the only kind of marijuana available for purchase was medicinal. Recreational marijuana wasn’t available for retail until Jan. 1, 2018.
Legislators opined the high taxes were hurting the companies that are trying to follow the law by creative cash incentive for consumers to seek black market retailers. This was the incentive for the Temporary Cannabis Tax Reduction bill.
The governor’s proposed budget for this fiscal year (ending in June) initially opined we’d be raking in a lot more. The governor’s office recently reduced its estimated tax revenue …
Health Canada’s 10 mg limit per package for edibles will be creating many limitations. Medical cannabis patients, at the very least, should be granted other options. Like individually portioned edibles, but not individually packaged. In fact, this should be a model for all edibles. Although, a further solution exists. Reading through the Cannabis Act many months ago, my […]
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7ACRES receives Health Canada approval for approximately 30,000 sqft of additional production space. Licensed space at 7ACRES increases to 120,000 sqft and target annual production capacity is expected to increase to approximately 17,500kg. 7ACRES also received Health Canada approval for its plant micropropagation space. Supreme Cannabis anticipates further Health Canada approvals in the near term. […]
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Net revenue growth due to first shipments of adult-use recreational product during the period Consists of gross revenue of $14.4 million less excise taxes and returns of $2.0 million Adjusted Gross Margin (a non-IFRS measure)1 equal to $8.8 million up from $1.6 million in prior quarter Cash cost of cultivation (a non-IFRS measure)1 equal to $0.56/dried flower […]
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