WeedLife News Network

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

BC bought $420 million worth of Legal Cannabis last year

British Columbians purchased nearly 85 thousand kilograms of legal cannabis last year, spending more than $420 million.

The BC LDB’s newest annual report—dated July 26, 2022 but released this final week of August—attributes this 28% increase in cannabis sales from the past year to an increase in retail outlets, increased product selection, and a declining consumer price. 

From March 31, 2021—March 31, 2022, the province added 98 new private cannabis stores and eight new public BC Cannabis Stores (BCCS).

Cannabis sales continue to be dominated by dried flower, pre-rolls, and extracts and concentrates, accounting for 91.5% of all cannabis sales in the province. 

Western Michigan University to launch Cannabis Marketing class in the spring

KALAMAZOO - A new class at Western Michigan University beginning in the spring is set to be the first of its kind in the state — cannabis marketing.

The joint effort between the university and several local titans of the cannabis industry is a chance for potential future dispensary owners to learn the ABC's of THC.

WMU has always had a strong food marketing program, but in recent years, its graduates have taken on a new, greener venture.

"In the last couple of years, we've been landing a lot of our students in the cannabis industry," says Dr. Russell Zwanka, associate professor of food marketing at WMU.

Group pushing for Recreational Marijuana in Arkansas releases first TV Ad

A new TV ad pushing for recreational marijuana is set to hit the airwaves on Wednesday (Aug. 31).

Responsible Growth Arkansas (RGA) is highlighting where some of the taxes derived from recreational cannabis sales will go in this new ad.

More people are turning to Hemp products for Relaxation and Relief

An explosion of CBD products seems to decorate the shelves of nearly every kind of business these days, offering products from CBD honey to CBD-infused yoga pants (yes, really). It’s more than obvious that CBD has become the latest health and wellness trend.

When the U.S. Congress passed the 2018 Farm Bill, it legalized industrial hemp, which helped launch the popularity of CBD, an abbreviation for cannabidiol. This compound, which is derived from industrial hemp, contains less than 0.3% THC, the psychoactive compound found in hemp’s cousin, marijuana. In South Carolina, marijuana remains an illegal drug, but chemicals like CBD from industrial hemp are legal.

'It will poison a lot of our children': Battle over marijuana heats up in Hunterdon County

LEBANON TOWNSHIP - The township Planning Board is scheduled on Tuesday to start hearing an application to build a marijuana grow facility on Anthony Road, perhaps the most controversial issue in the northern Hunterdon County municipality in recent years.

The application by The NAR Group, of Warren Township, to open a 20,000-square-foot medical marijuana cultivation facility at 62 Anthony Road, the former site of the Diamond Aerosol manufacturing facility, was originally scheduled to be heard on Aug. 16, but NAR requested a postponement until Aug. 30.

To accommodate the large number of residents interested in attending, the hearing will be held at 7 p.m. Tuesday in the gymnasium of Woodglen Elementary School on Bunnvale Road.

Here’s how many Cannabis Licences New York will initially Award

Regulators plan to award up to 150 licences across 14 regions in New York State

New York regulators are a few short months away from launching legal cannabis sales. Over the past year, responsible parties have been preparing laws and setting the stage for this launch.

Last week, the Office of Cannabis Management (OCM) released a regional breakdown of possible dispensaries, showing just how many licences would be awarded per area.

Marijuana use is outpacing Cigarette use for the first Time on Record

More people in the U.S. are now smoking marijuana than cigarettes, according to a Gallup poll.

Cigarette use has been trending downward during the past decades, with only 11% of Americans saying they smoke them in a poll conducted July 5 to 26, compared to 45% in the mid-1950s.

Sixteen percent of Americans say they smoke marijuana, with 48% saying they have tried it at some point in their lives. In 1969, only 4% of Americans said they smoked marijuana.

Attitudes around both substances have also shifted dramatically.

Langley plant propagation facility signs deal with major Cannabis Provider in Canada

Bevo Farms’ parent company was acquired by Aurora Cannabis for more than $45 million.

Bevo Agtech, which owns and operates 63 acres of greenhouses on more than 160 acres of land across the Lower Mainland, has recently sold a controlling interest of their company to Aurora Cannabis.

This Canadian cannabis company has operations in 25 countries around the world and has now grown their presence in Western Canada even further by purchasing 50.1 per cent of Bevo.

Currently, Bevo has limited its propogation of agricultural plants to Langley, Aldergrove, and Pitt Meadows. However, as part of this new deal, Bevo will now gain control of the Aurora Sky facility in Edmonton, Alta.

Financial entities seek to expand California Cannabis banking efforts

Abaca, a financial platform for cannabis operators, and Pacific Valley Bank are partnering as a means of expanding cannabis banking access within the California market.

This marks the first time since California legalized medical marijuana 26 years ago that legal operators in the industry have access to such a combination.

“Many operators across the state have been let down by unsophisticated, unreliable, and unnecessarily burdensome banking solutions,” Abaca CEO Dan Roda said.

“Now, operators have access to the best of both worlds – the human touch of a California community bank with a deep understanding of the unique needs of the market and the powerful technology of a financial platform that enables operators to seamlessly manage their finances online.”

What happens when you Legalise Cannabis?

Countries all over the world are debating whether to legalise cannabis; but what really happens when legislators make the recreational drug legal?

Recreational cannabis has been legalised in a number of states in America. A study published in the scientific journal Addiction has evaluated the impact that this law has had on cannabis use in these states. Recreational cannabis use increased by 20%

Researchers found that when you legalise cannabis, more individuals begin using the drug recreationally. For example, recreational cannabis use in the U.S. states where cannabis has been made legal has increased by 20%.

Will Biden Legalise Marijuana? Democrats remain split on the Issue of Weed

Calls to enact meaningful reform to cannabis laws are growing in the US, but is there enough support in Congress to pass the proposals?

In his year and a half in the White House, President Biden has largely remained quiet on the subject of marijuana legalisation. This is despite many Democrat-held state legislatures pushing for the legalisation of cannabis during the current session and widespread support for loosening the law.

The two most senior Democrats in Congress, House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer, have stated that they want marijuana reform to be passed as a priority, but the issue continues to divide the party.

Cannabis licenses top 1,000 in New Mexico

The state has hit a milestone in the approval and issuing of cannabis licenses, surpassing 1,000 since the Cannabis Control Division began issuing them last fall.

To date, 1,027 total licenses have been approved and issued.

Those numbers were shared by the division on Tuesday in a presentation to lawmakers on the Legislature’s interim Courts, Corrections and Justice Committee.

The update comes nearly half a year into the sale of adult-use cannabis, which has so far generated nearly $88 million in recreational sales for cannabis businesses. And it comes at a time when lawmakers and industry leaders are raising questions about equity in the cannabis industry.

State begins taking applications for retail Cannabis Dispensary Licenses

NEW YORK—The state Office of Cannabis Management is taking applications for people interested in applying for a retail marijuana dispensary license, the board said Thursday at a virtual news conference. 

The launch of the application portal for CAURD, Conditional Adult-Use Retail Dispensary Licenses, the first adult-use retail cannabis dispensaries to open, is part of the state’s effort to give business opportunities to those affected most by the state’s once-strict marijuana laws.

NY to take social equity Marijuana Applications

The Hochul administration has begun accepting applications from “justice-involved” individuals for retail cannabis dispensary licenses as officials prepare to provide some of those awarded licenses with “state of the art” storefronts constructed and furnished by the state Dormitory Authority.

In response to questions from CNHI, Chris Alexander, executive director of the state Office of Cannabis Management and a Hochul appointee, acknowledged that his agency has no plans to conduct credit checks on so-called social equity applicants seeking to enter what he said is poised to become the world’s biggest marijuana market.


Cannabis drinks market value set to grow by US$8.3 billion in 2032

The global cannabis drinks market is set to grow by a value of $8.3 billion in 2032, with a compound annual growth rate (CAGR) of 37.3%, according to Future Market Insights.

Cannabis is becoming more commonly used in various markets across the world to treat a variety of illnesses, including neurological disorders, epilepsy, cancer, and pain management. Cannabis consumption has also been fully legalised for recreational use in 19 US states, and the drug is gaining traction within health-conscious communities.

Demand for cannabis drinks is predicted to rise as a result of legalisation of recreational or medicinal cannabis.

The cannabis drinks market is worth of US$ 0.4 billion sales in 2022 and expand at CAGR of 3% between 2022 and 2032.

Marijuana growing moratorium?: Supply and demand could lead to changes in Michigan

DETROIT - Marijuana growers in Michigan are making too much product and it’s outpacing demand.

In just the past year, the price for an ounce of flower went down by 44%.

The Cannabis Regulatory Agency is now seeking input on how to solve the problem.

"The agency has been hearing concerns that the supply of marijuana produced by licensed growers exceeds, or may soon exceed, consumer demand. The concerns include that the wholesale price of flower is lower than the cost of production – or will be when harvests are highest in October," CRA said in a statement

CRA listed three potential forms of action for the public to consider prior to their quarterly meeting, which will be held on Sept. 14 at 9:30 a.m.

Cannabis stores start shutting down, 'collateral damage' from B.C. General Employees Union strike

“The economic impact is large. It just doesn't seem fair that an entire industry is going to get destroyed as collateral damage for someone else's decisions.”

B.C. cannabis stores have already begun shutting down as their only supply source has been cut off by a 10-day-old B.C. General Employees Union strike at government distribution warehouses.

On Wednesday, Burb, which has five retail outlets, shut down one of its two Port Coquitlam stores and another in Port Moody, which will put about 20-to-25 people out of work. The remnants of inventory at those two stores are being transferred to its other Port Coquitlam store. Depending on volumes of customers it might keep that store open another week.

Office of Cannabis Policy hosts town-hall Discussion on Industry

To take the temperature of stakeholders involved, the office hopes to open up a conversation to better meet industry needs.

BANGOR - To open up a conversation about the industry, the Office of Cannabis Policy hosted a listening event on Wednesday to speak on policy and questions with the public. 

The town-hall style event aimed to gain a diverse perspective of stakeholders in the industry and to answer any questions or concerns the public may have. 

From small businesses to public health workers and even local government officials, attendees at the meeting came from a variety of fields; all effected by the industry.

County eases strict Marijuana Zoning Requirements

The new zoning rules make it easier to gain Pima County approval for new marijuana dispensaries, manufacturing facilities and cultivation businesses.

“It aligns more closely with the city’s (Tucson) codes, as in the dimensions and setbacks,” said Chris Poirier, deputy director of Pima County development services. “Even with the Type III permits, it is still much easier than what had to be done to start one of these businesses.”

The proposal for reducing restrictions for marijuana business permits passed the Pima County Board of Supervisors 3-2 earlier this month. 

Looks like Massachusetts is getting LIT

There’s a new cannabis flower brand in Massachusetts, and it’s LIT. 

Ayr Wellness, one of the largest publicly traded cannabis companies in the United States, recently announced that it partnered with Lit to bring its line of cannabis genetics to its Massachusetts dispensaries.

Lit is the latest West Coast cannabis flower brand that is trying to make the jump to the East. Short for Lost In Translation, the brand was co-founded by Ray Schiavone, who originally launched it in Nevada with Tahoe Hydroponics Company.