Week In Review – November 1st-7th

Multimillion-Dollar US Cannabis Deals Near Completion

Though both of the deals are set to improve the two multi-state operators’ (MSOs) market share across the US and could represent a newfound interest in the regulated cannabis industry at the state level by federal powers, cannabis deals overall have been downsized in the face of a struggling market. Read more 

N.J. Farmers May Be Able To Grow Hemp Next Year

The U.S. Department of Agriculture announced Tuesday it has established a Domestic Hemp Production Program, bringing long-awaited guidelines to what many believe will be a burgeoning and profitable industry. Read more

How Might Brexit Impact The UK’s Cannabis Industry?

While the UK’s CBD market is huge, the fact that UK hemp farmers are prohibited from processing flowers and leaves from their crops requires them to rely on imports to sustain that market. A recent study from the UK’s Centre For Medicinal Cannabis priced the 2018 market as worth £300 million (347.7 million EUR), with double-digit compounded growth-boosting it to £1 billion (1.16 billion EUR) by 2025. Read more

Health Canada Releases Final Regulations For New Classes Of Cannabis

In 2018, Canada legalized the sale of five classes of cannabis. This year will now see the addition of three new permitted classes of cannabis: (a) edible cannabis, (b) cannabis extracts, and (c) cannabis topicals. Accordingly, Health Canada has released the order and targeted regulations amending the Cannabis Act and Cannabis Regulations (collectively, the Amending Regulations) governing these new classes of cannabis, coming into force on October 17, 2019. Read more 

CBD Products Are Flying Off The Shelves — So Why Are Banks So Reluctant To Offer Financing?

While a majority of states have legalized or decriminalized recreational marijuana use, and the 2018 Farm Bill gave legal status to growers and sellers of hemp, cannabis is still classified as a Schedule I drug at the federal level — which means most financial services providers won’t do business with marijuana-related ventures. Read more

Wisconsin Lawmakers File Marijuana Decriminalization Bill

The legislation, introduced by Reps. David Crowley (D) and Shelia Stubbs (D), would decriminalize possession of up to 28 grams, which amounts to about one ounce. Currently, possession is treated as a misdemeanor offense that can carry up to six months in jail and a $1,000 fine. Read more

Purdue Receives First USDA Grant To Study Organic Hemp Production

When the 2018 Farm Bill legalized production of hemp, the deluge of phone calls from potential growers to scientists and state administrators quickly made it clear how little information is available for those hoping to plant the crop. Read more

Utah Hemp Farmers Find Success And Struggles In Their First Year Of Growing

Though he hasn’t sold much of it yet, the Utah County farmer is proud of how his 10-acre experiment turned out. Paging through pre-harvest cellphone photos, he shows off his neatly lined plants, some with stalks soaring above shoulder-height and crowned with what he calls the “filet mignon” of hemp buds. Read more 

iCAN, Headquarters Partner Up To Bring Israeli Innovations To California Cannabis Market

Headquarters (HQ), a Los Angeles-based company set out to solve a fundamental problem for international companies and brands looking to do business in California, has teamed up with Israel-based iCAN Israel-Cannabisto bring innovative cannabis companies from Israel to the US market, particularly California. Read more 

Kraft Heinz Leads $23m Investment In Cannabis Startup Flowhub

Kraft Heinz has made its first move into the cannabis sector, as its Evolv Ventures venture capital arm has co-led a $23 million funding round in cannabis technology startup Flowhub. Read more

Senate Approves Bill Protecting Medical Marijuana States From Federal Intervention

The Senate approved spending legislation Thursday that extends a provision protecting medical marijuana states from federal interference, but the question remains as to whether a House-passed version with broader protections for all state cannabis programs could still be adopted in the final bill that’s sent to the president. Read more 

Could Ireland Be Softening Its Stance On Cannabis?

Prevailing attitudes in Ireland still consider the marijuana plant as dangerous, in contrast to the support of strictly controlled medical cannabis. Nonetheless, personal possession and consumption is treated as a minor offence. But could the Irish be softening its stance on cannabis and be in the early stages of legalization? Read more

Retail Investors Are Getting Blamed for Cannabis Slump

With large institutions still reluctant to invest in pot, Canadian retail investors continue to dominate the public floats of many cannabis companies, especially those that operate in the U.S. where marijuana remains federally illegal. Read more

Curaleaf Opens First Adult-Use Dispensary In Massachusetts

The location shares a space with Curaleaf’s medical dispensary, which opened in April 2018. Curaleaf touted the significance of the increased access the store provides. The Massachusetts company called itself the “most accessible cannabis brand in the country.” Read more 

Switzerland: Federal Council Wants To Facilitate Access To Medical Cannabis

More than a year ago, the Swiss National Council adopted a tacit motion facilitating access to medical cannabis for the sick. The Federal Council, the executive body of the Confederation, now wishes to amend the law on drugs to include it in the legislative marble. Read more

With M&A Heating Up In Aus Cannabis, Is It International Land Grab Time?

Not only were many cannabis companies in limbo thanks to a large backlog of licensing applications, but all the exciting mergers and acquisitions in the industry were happening overseas. Read more 

Farmers With A License Can Grow Hemp But Cannot Sell Hemp Products To The Public

Monday, the Alabama Political Reporter talked with Gail Ellis with the Alabama Department of Agriculture and Industries about industrial hemp and complaints from hemp farmers that their state licenses are too restrictive. Read more

By |2019-12-18T11:44:26-07:00November 7th, 2019|Hemp|