The Cannabis Control Board on Thursday completed its review of the draft recreational cannabis regulations, with the caveat that provisions on civil penalties will be added later, among other things. “It’s very difficult to regulate (an industry) when there is no penalty or teeth to the regulations,” said CCB Vice Chairwoman Dafne Shimuzu, who’s also […]
Policy & Legal
The U.S. House votes to ban the U.S. Justice Department from enforcing the federal ban on cannabis
The U.S. House voted Thursday to ban the U.S. Justice Department from enforcing the federal ban on cannabis in any state that has legalized the drug for any purpose. The amendment to the legislation funding several federal agencies for the 12 moths beginning Oct. 1 passed, 254-163, with 31 Republicans voting yes. “As we work […]
Texas to end retail outlet sales of legal smokable cannabis
The smoking of legal cannabis in Texas may go on. But as of this Sunday, stores that sell hemp flowers can only sell consumable versions of the plant. By state regulations, consuming does not include smoking. “I think we’re going to lose some sales,” Alex Reyes said. Reyes is a manager for Mary Jane’s CBD […]
Maine predicts 1st recreational cannabis sales by end of year
Mainers should be able to buy legal recreational marijuana by the end of the year. The state Office of Marijuana Policy delayed its planned June launch of the adult-use market because of the COVID-19 pandemic but now expects to allow the first wave of recreational marijuana testing labs, grow facilities and manufacturing labs to open by the […]
Derivative Lawsuits Hit Publicly Traded Cannabis Companies
By Greg Kaufman and Amanda Oliveira Did you know, that as an officer or director of a company, you can be sued by shareholders for actions or inaction in violation of your fiduciary duties? Anyone watching the cannabis space is aware of the significant increase in class action litigation involving publicly traded cannabis-related businesses. These […]
How CO HB1090 Cements Importance of Due Diligence in the Cannabis Industry
Colorado House Bill 19-1090 has dramatically altered cannabis business ownership and investment across the Centennial State. Prior to its passage in late 2019, ownership in a Colorado marijuana business was limited to private companies of 15 or fewer individual owners. Regardless of an individual’s percentage of ownership or control, every owner was required to pass […]
New Mexico medical marijuana industry booming during pandemic
The medical cannabis industry is booming in New Mexico. The industry says the effects of COVID have dramatically increased demand and they’re trying to keep up. “What we learned was it wasn’t just a New Mexico thing, in fact, the number of transactions have doubled in New Mexico, prices have gone up and the supply is pretty […]
Democrats Reject Marijuana Legalization In Party Platform
Democratic National Committee delegates voted 105-60 against including marijuana legalization in the party platform on Monday. The draft version of the platform supports decriminalizing marijuana use and legalizing medical marijuana, adding that it should be left up to the states “to make their own decisions about recreational use.” The platform was unlikely to ever endorse […]
Maine’s Residency Requirement Waiver in Light of New England’s Licensing Regulations
When states decide to legalize cannabis in some way, they must consider whether only state residents will be allowed to obtain cannabis business licenses. In 2016, Massachusetts and Maine became the first two New England states to legalize adult use cannabis. While adult use is legal in Vermont, the state has yet to pass legislation […]
Elixinol secures foothold in Australian market with PharmaCann agreement
Elixinol (ASX: EXL) will finally be able to sell its CBD products in Australia after penning an exclusive distribution agreement with licenced wholesaler PharmaCann. Under the agreement PharmaCann will import and supply Elixinol’s branded CBD products into Australia from the US, opening the company up to a brand new market. “We regularly receive queries about […]
