WeedWorthy News Network

Hot off the press cannabis, marijuana, cbd and hemp news from around the world on the WeedWorthy News Network.

(image: The Herbology sign outside of their new store in Kalamazoo, Michigan which opened on Thursday, Jan. 30, 2020. (Kendall Warner | Mlive.com) Kendall Warner | MLive.com)

KALAMAZOO, MI -- A chain of Kalamazoo-area cannabis shops are taking donations to help fight hunger in the community.

Herbology stores in Michigan, including its locations in Kalamazoo, Battle Creek and Bangor, are participating in “Feed the Block” a fundraising initiative to combat hunger issues in the community, according to a news release from Herbology.

The Kalamazoo-area dispensaries are partnering with Loaves and Fishes in Kalamazoo in the fight against hunger.

(image: Cresco Labs)

As the industry standards continue to be defined, this is the packaging every weed company should focus on.

It may come as a shock to you, but most people don't know much about cannabis. A Science Daily study about THC levels in edibles found that most consumers aged 16—30 could not identify if an edible had low or high THC levels based on the label. Add to that the fact that roughly 30% of Americans consume cannabis, which leaves a sizable audience who can benefit from cannabis if they knew more about it. 

(image: Inside a GrowGeneration hydroponic garden center. Source: GrowGeneration)

GrowGeneration Corp., the largest hydroponic garden-center chain in North America, is on a tear worthy of its name.

The gardening supply company has gained over 700% so far this year, making it the best-performing cannabis stock of 2020 amid a sector-wide rally on hopes the U.S. is poised for federal legalization after the election.

Investors are drawn to the $1.6 billion retailer, which sells equipment used to grow pot, as it’s one of the few U.S.-based cannabis plays listed on the Nasdaq. It’s also free of the legal risks that growers pose as it doesn’t actually sell the plant itself.

Marijuana firm Aurora Cannabis (TSX:ACB)(NYSE:ACB) has entered into one of the biggest medical cannabis supply deals by a Canadian pot grower with an Israeli firm to-date. This comes after the Canadian marijuana firm announced its two-year supply agreement with Cantek, a leading cannabis market player in Israel.

Aurora Cannabis said it “intends” to supply a “minimum of 4,000 kilograms of bulk dried cannabis flower” per annum to Cantek in a two-year deal that could be extended. The volume involved could make the ACB deal one of the largest export deals to Israel by a Canadian firm to-date.

Commissioners seem ready to close out a bumpy policy-setting process next week with a vote to adopt new regulations that would reshape the legal marijuana industry to include a home delivery aspect, but that decision could give way to a legal challenge in short order.

Through an attorney, some existing marijuana retailers recently threatened to sue the Cannabis Control Commission if it votes to adopt its latest set of industry rules on Monday, as is expected. Though the new regulations affect the entire marijuana industry, the provisions that would allow a new class of licensees to deliver marijuana to customers at home have drawn the most controversy.

The state panel in charge of Georgia’s medical marijuana program is opening the search for businesses interested in growing the leaf crop and converting it into cannabis oil.

The Georgia Access to Medical Cannabis Commission voted Monday to release a Request for Proposals (RFP) that will lead to the granting of two “Class 1” licenses and four “Class 2″ licenses to grow marijuana indoors and manufacture the oil derived from the plants.

The RFP is based on input from the state attorney general’s office and the Georgia Department of Administrative Services (DOAS).

If passed, the measure will improve Mexico’s living conditions while reducing drug trafficking crime. However, cannabis advocates and legal experts have several concerns.

Mexican Senators approved a historic adult use cannabis legalization bill on Nov. 19, with an 82 to 18 vote.

This doesn’t legalize adult use just yet, but Mexico appears well on its way to becoming the third nation to do so and potentially the largest legal marijuana market in the world.

The luscious green plants stretch as far as the eye can see. Row after row, lovingly tended in a glasshouse that’s roughly the same size as 34 football pitches.

Thought to be one of the UK’s largest glasshouses, the 45-acre glasshouse in Wissington, Norfolk, sits in an area known for the growing of crops, vegetables and fruit, from peas and beans to tomatoes and strawberries.

But this crop is slightly different. Once filled with tomato plants, the glasshouse owned by British Sugar is now home to hundreds of thousands of cannabis plants grown for the pharmaceutical company GW Pharmaceutical.

California just made a significant ruling that is bad for cannabis advertisers who favor the billboard format, but good for those who want to see more regulation. Apparently, officials have been allowing highway-facing billboards that should have been banned on the 2016 bill that legalized recreational cannabis. 

Legal cannabis continues to become a new reality in states throughout the U.S., giving lawmakers the unique challenge of installing a regulatory system on newly established marijuana markets. 

California is largely seen as the leader of the cannabis industry (both legal and illegal) due to the state industry’s size, experience, and innovative spirit. But the growing pains experienced by California’s legal cannabis market in its first four years offers essential lessons to states that are actively setting up their cannabis programs for the first time. 

Here are some issues newly legal states should tackle to ensure a smooth transition. 

The day before Thanksgiving has a bit of a sordid history. Back in 2007, the day was coined ‘Drinksgiving’ or ‘Blackout Wednesday’ by college students flocking back home to be with family for the holidays. Unfortunately, it is also a horrifically common night for drunk driving accidents, surpassing New Year’s Eve by a longshot.

‘Tis the season for America’s favorite foodie holiday, and whether turkey, tofurkey, or none of the above are on the menu, this is sure to be a Thanksgiving like no other. With Covid-19 spikes turning the U.S. map red and growing concerns about the capacity of states to handle an even higher coronavirus positivity rate if citizens choose to gather, some thought leaders in the cannabis industry are taking a stab at predicting the impact on Thanksgiving sales.

In the Nov. 3 election, voters in New Jersey voted to legalize cannabis for recreational and/or medical use. As the marijuana industry continues to grow generating jobs and profits in New Jersey, CPAs have been asked to provide their services to businesses that cater to the ever-growing industry–but this is uncharted territory.

Precision® Extraction Solutions ("Precision"), the world leader in cannabis and hemp extraction technology, today announced a strategic partnership with Pressure Safety Inspectors (PSI). Through the partnership with PSI, Precision is launching a safety and certification program that will streamline compliance when buying Precision extractors.

A large scale East Ladner greenhouse which made the switch from vegetables to cannabis has deal to utilize renewable natural gas from the Vancouver Landfill.

Village Farms International Inc. announced its wholly owned subsidiary, Village Farms Clean Energy Inc., has renewed and expanded its existing contract with the City of Vancouver, which operates the landfill in Delta, under which the greenhouse receives captured landfill gas.

The plan is for Village Farm to significantly reduce its reliance on natural gas to produce CO2 in its operations, transitioning and converting landfill gas into renewable natural gas (RNG), which will also generate food-grade liquid CO2.

Will The U.S. Cannabis Industry Continue Its Growth?

Outdoor growers in California’s most iconic cannabis cultivation zones received major support when Governor Gavin Newsom signed Senate Bill 67 into law on September 29, 2020.

 

Industry insiders believe Democrat-held Congress would likely take up the SAFE Banking and MORE Acts, generating long-term market effects.

Despite ongoing attempts by the Trump Administration to delay the transition, President-elect Joe Biden and Vice President-elect Kamala Harris are expected to take power on January 20, 2021, creating an impact on the cannabis stock market that could be substantial. 

 

Will Rhode Island be the next state to legalize cannabis?

Many liberal, New England states have turned to recreational or medical cannabis to bring in some extra revenue, and now, in light of the budget deficit in the state, Rhode Island is talking about legalization as well.  

Currently, the state is projecting a possible $114.4 million deficit in the state’s economy, and analysts are getting worried. In response to that, a Senate Finance Committee in the state is considering Democrat Gina Raimondo’s proposal to allow the sale of cannabis legally within state borders. 

 

 

Former North Carolina Industrial Hemp Association Expands into Multiple States

RALEIGH, N.C., Nov. 20, 2020 /PRNewswire/ -- Focusing on the growth of collaborative opportunities across the Southeast region's hemp industry, the former North Carolina Industrial Hemp Association has transitioned into the Southeast Hemp Association (SEHA). With 650 current members from seven different states, the SEHA will work to build the supply chain across the bioregion for the industry and promote best practices and standards for all facets of hemp, from plant to process to product.