WeedLife News Network
The debate over legalizing marijuana for adult, recreational use in New York has been brewing for the last two years after Democrats took control of the state Legislature, but disagreements on the issue coupled with a global pandemic have kept it out of reach for lawmakers.
That could change next year as the Legislature returns to Albany, but Democrats still remain divided on certain aspects of the issue that are likely to complicate negotiations.
Chief among them is what the state will do with the tax revenue from the marijuana industry, which is expected to generate around $300 million annually when the program is stabilized, according to projections from the state.
City officials Mayor Mike Duggan and councilman James Tate have just announced the licensing scheme that will be launched on the 19th of January 2021, with the first licenses expected to be issued by June.
“It’s by far the most controversial provision,” said Duggan. “The city will not issue a license to any business unless 50% of the licenses in that category are Detroiters. Which means if you’re from outside the city, you can’t get a license unless a Detroiter already has one. We’ll never go below 50%.”
Australia is a legal cannabis market that rarely receives the attention it deserves and is a market that we are bullish on in 2021.
In 2019, we noticed a slowdown in interest in the Australian cannabis market as companies started to focus on the opportunity in Latin America. Since then, the Latin American cannabis market has not grown as much as expected while the Australian market has shown signs of strength. Article originally published on technical420.com
Tilray and Aphria, two of the biggest marijuana companies in Canada, announced plans to merge on Wednesday and create the world’s largest cannabis outfit.
With existing medical and recreational cannabis businesses in Canada and Europe, the new conglomerate is positioning itself to eventually enter the biggest weed market in the world: the U.S.
As 2020 comes to a close, Prohibition Partners' international team of analysts, consultants and thought-leaders have come together to analyse the top trends set to define the cannabis industry in 2021 and beyond.
From the impact of Brexit and COVID-19 to the rapidly developing legislation in the US and Latin America, find out what is in store for one of the world's most dynamic sectors.
1. The Impact of COVID-19
The COVID-19 pandemic has had a profound impact on the global economy as lockdown measures, and economic uncertainty caused many companies, including those in the cannabis industry, to downsize and re-evaluate strategies. COVID-19 undoubtedly raises opportunities for the cannabis industry at large.
The bill would raise THC limits from 0.3 per cent to one per cent.
Kentucky Senator Rand Paul introduced a bill on Tuesday that could raise the THC limits on industrial hemp in the U.S. from 0.3 per cent to one per cent.
In a statement, Paul said conversations with Kentucky hemp farmers and processors informed the Hemp Economic Mobilization Plan (HEMP) Act of 2020.
Currently, any hemp crops that test above 0.3 per cent must be destroyed.
Historically, Kentucky has been the U.S.’s leading hemp producer, though production was mostly banned for nearly 45 years following federal policies introduced in 1970.
The big news this week of course was the announced merger between Aphria and Tilray. Aphria will own over 60% of the combined entity and Irwin Simon, Aphria’s CEO will take on the same role at the new company. However, it will be known as Tilray and use the Tilray symbol.
Mind Medicine (MindMed) Inc. (NEO: MMED) (OTCQB: MMEDF) raised C$80 million in an upsized bought deal. the company said the net proceeds will be used for investment in Project Lucy, Albert (the company’s digital medicine division), additional microdosing research and development, Project Layla (18-MC) as well as general working capital. The original raise was planned for $50 million.
Bees Love Cannabis Too!
In the American agricultural landscape, industrial hemp, Cannabis sativa (Cannabaceae), is a newly developed and rapidly growing crop. Hemp lacks nectar but, as an exclusively wind-pollinated crop, produces an abundance of pollen in agricultural landscapes during a period of time referred to as floral dearth. Researchers have found that a number of bee species are attracted to these pollen plumes, yet the diversity of floral visitors and their use of hemp in a variety of agricultural contexts remains uncertain.
Vaping is quickly becoming a preferred way to smoke for many people. And for good reason, vaping has some advantages. It is more discreet than other forms of smoking as here is little to no order to mask. A vape pen can be slipped into a pocket or purse and smoked easily without requiring a bunch of extra supplies. These are just a few examples as to why vaping is trending up. However, the rise in popularity has created a saturated market leaving it difficult for consumers to choose.
To help you navigate the vaping selection, we’re sharing four of our favorite vaping products from four of our favorite brands and offering tips for choosing the ones that are right for you. Without further ado, let’s dive into the top vaping products to rise above the crowded market.
Merger and acquisition activity is what has the stocks moving. Pot producers Tilray and Aphria announced an all-stock business combination creating what the pair calls the largest cannabis company in the world, with annual sales of roughly $675 million.
Tilray stock was up about 30% in premarket trading. Aphria stock was up about 13%.
If you are looking to do a business with marijuana or hemp products, you can do so after preparing yourself with the rules, limitations, and processes involved. Since several states in the United States are legalizing the use of cannabis, the business has a future. However, you have to go through a lot before setting up your dispensary. You have to take care of several factors such as the licenses and permits required, rules and regulations for the use of cannabis, and a lot more. Apart from these, you have to concentrate on the constituents of the cannabis products you are about to sell. There will be some rules on these constituents also.
As we head into a new year—amidst a global pandemic, no less— hundreds of thousands of American citizens are unemployed nationwide. But legal cannabis businesses, from seed-to-sale, ancillary to multi-state operators, are still hiring in droves. The industry is poised to be the largest creator of jobs over the next decade, driving a workforce mobilization not seen since World War II.
Operating on the frontlines of this hiring blitz, we see opportunities and trends continue to crop up. Here is a countdown of five jobs that will be of the utmost importance in 2021.
The U.S. Cannabis Industry In 2020 And Its Future Potential In 2021
Although 2020 has been a year filled with stock market volatility and economic struggle marijuana stocks have pulled through for investors. As Monday’s trading comes to a close cannabis stocks continue to produce gains in the market in December. So, the question for investors now is should you buy pot stocks now or wait until 2021? Currently, most cannabis companies like Curlaleaf Holdings Inc. (CURLF Stock Report) are reaching their high of the year in December.
Whether you are an experienced home grower, a longtime outdoor farmer, or just starting with a small plant in your closet, cannabis farming is a nuanced operation. If done wrong, you’ll be left with a crop that is dry...but not high. Here are some tips to save you time, money, and a headache when dealing with a cannabis grow of any size.
Start With Choosing the Best Soil for Cannabis
From January to the end of September, Nevada's cannabis dispensaries made more than $588 million in sales.
That's according to a new report by the Nevada Dispensary Association. The industry group that represents cannabis sellers in Nevada said over last year, they have recorded a 14% increase in sales. In September alone, Nevada dispensaries reported $82.6 million in sales — a 43% increase over the same month last year.
September is the latest month that data is available.
Nevada voters legalized recreational marijuana in 2016. The state puts a 15% excise tax on wholesale sales, then a 10% tax on recreational sales to consumers. According to Nevada's Department of Taxation, the state took in nearly $37 million from July through September.
MONOGRAM, Jay-Z's much-hyped weed brand, finally makes its debut after a buzzy introduction back in October.
Back in October, not much was known about the brand, other than it was the brainchild of Jay-Z and Caliva, one of the largest cannabis brands in California, and that it had a mysterious, vibey website with Fela Kuti, Bob Marley and the Wailers, and OutKast snippets playing as "Sounds from the Grow Room."
Today, MONOGRAM announced that after 18 months selecting and cultivating strains, “MONOGRAM is finally ready to introduce its core collection of products to the world,” according to a press release.
Recreational marijuana is now legal in Arizona after voters approved Proposition 207, and that will pose some new challenges for employers, said Julie Pace, a Phoenix attorney who specializes in employment and cannabis law.
There also is confusion about what the implications are for both employers and employees, said Pace, an attorney with Gammage & Burnham, who spoke with Chamber Business News about what business owners need to know in moving forward.