Cannabeat is a weekly digest of news, business, and culture in the cannabis industry curated by members of Emerge Law Group’s distinguished Cannabis Industry Group.
Federal Legalization
House Officially Approves Marijuana Banking Amendment To Large-Scale Bill Set For Final Passage Friday
MARIJUANA MOMENT
The U.S. House of Representatives on Thursday formally attached a marijuana banking reform amendment to a large-scale bill dealing with innovation and manufacturing—the latest development in a years-long effort to protect financial institutions that work with state-legal cannabis businesses. The ame…
The U.S. House of Representatives on Thursday formally attached a marijuana banking reform amendment to a large-scale bill dealing with innovation and manufacturing—the latest development in a years-long effort to protect financial institutions that work with state-legal cannabis businesses. The ame…
Bipartisan Congressional Lawmakers Demand Marijuana Legalization Bill ‘Expeditiously’ Get House Vote
MARIJUANA MOMENT
A bipartisan coalition of House lawmakers on Wednesday sent a letter to congressional leadership, demanding that a bill to federally legalize marijuana be “expeditiously” taken up by Congress.
A bipartisan coalition of House lawmakers on Wednesday sent a letter to congressional leadership, demanding that a bill to federally legalize marijuana be “expeditiously” taken up by Congress.
Pot Industry Faces Lukewarm Prospects for U.S. Reform in 2022
BLOOMBERG
Last year was a rough one for the cannabis industry — it started with high hopes pinned on the incoming administration of President Joe Biden and ended with gridlock and an extended decline in stock prices. This week, Bloomberg Intelligence analyst Kenneth Shea talks about the key areas to watch in 2022.
Last year was a rough one for the cannabis industry — it started with high hopes pinned on the incoming administration of President Joe Biden and ended with gridlock and an extended decline in stock prices. This week, Bloomberg Intelligence analyst Kenneth Shea talks about the key areas to watch in 2022.
Social Equity
Schumer Gives Update On Federal Marijuana Legalization And Banking In Meeting With Equity Advocates
MARIJUANA MOMENT
Senate Majority Leader Chuck Schumer (D-NY) held a meeting with a variety of marijuana reform and other advocacy groups last week to discuss social equity issues as he prepares to introduce a much-anticipated cannabis legalization bill this year.
Senate Majority Leader Chuck Schumer (D-NY) held a meeting with a variety of marijuana reform and other advocacy groups last week to discuss social equity issues as he prepares to introduce a much-anticipated cannabis legalization bill this year.
Arizona judge upholds rules for social equity marijuana licenses
ASSOCIATED PRESS
The licenses were set aside for people from communities disproportionately impacted by the enforcement of previous marijuana laws.
The licenses were set aside for people from communities disproportionately impacted by the enforcement of previous marijuana laws.
California
Provisional cannabis licenses ending in California, signaling higher barriers to market entry
MARIJUANA BUSINESS DAILY
When California’s provisional license program ends, barriers to entry for newcomers will sharply increase, industry insiders say..
When California’s provisional license program ends, barriers to entry for newcomers will sharply increase, industry insiders say..
Sonoma County gives marijuana farms more time to pay local tax
PRESS DEMOCRAT
The temporary measure comes as local growers and industry advocates have been engaged in a monthslong push for tax relief, with a recent tax hike at the state level adding to the urgency of their campaign.
The temporary measure comes as local growers and industry advocates have been engaged in a monthslong push for tax relief, with a recent tax hike at the state level adding to the urgency of their campaign.
Supervisors to accept resolution to postpone cannabis tax payments, get report from RCRC leadership
LAKE COUNTY NEWS
The Board of Supervisors this week is expected to accept a resolution to postpone cannabis tax payments, and will get a report from an organization that advocates for rural counties and consider several committee and board appointments.
The Board of Supervisors this week is expected to accept a resolution to postpone cannabis tax payments, and will get a report from an organization that advocates for rural counties and consider several committee and board appointments.
Monterey County Board of Supervisors to consider cut to commercial cannabis taxes
MONTEREY HERALD
With local cannabis businesses reportedly facing permanent closure, the Monterey County Board of Supervisors at its meeting Tuesday will consider taking the first step in providing them relief by cutting commercial cannabis business tax rates.
With local cannabis businesses reportedly facing permanent closure, the Monterey County Board of Supervisors at its meeting Tuesday will consider taking the first step in providing them relief by cutting commercial cannabis business tax rates.
Connecticut
Connecticut Adult-Use Cannabis License Lotteries Start this Month
EMERGE LAW GROUP
Connecticut’s adult-use cannabis license lotteries kick off in in a few days – here’s what you need to know. Under Connecticut’s Responsible and Equitable Regulation of Adult-Use Cannabis Act (“RERACA”) and the policies and procedures implementing RERACA, there are nine different types of new cannabis licenses that will be issued by the Department of Consumer…
Connecticut’s adult-use cannabis license lotteries kick off in in a few days – here’s what you need to know. Under Connecticut’s Responsible and Equitable Regulation of Adult-Use Cannabis Act (“RERACA”) and the policies and procedures implementing RERACA, there are nine different types of new cannabis licenses that will be issued by the Department of Consumer…
Mississippi
Mississippi becomes 37th state to legalize medical marijuana
CNN
Medical marijuana for certain patients with debilitating conditions is now legal in Mississippi after the state's Republican governor signed a bill into law on Wednesday.
Medical marijuana for certain patients with debilitating conditions is now legal in Mississippi after the state's Republican governor signed a bill into law on Wednesday.
New York
New York Senator Files Marijuana Recycling Bill To Mitigate Environmental Impact Of New Industry
MARIJUANA MOMENT
A New York senator filed a bill on Wednesday that would promote recycling in the marijuana industry once retail sales officially launch.
A New York senator filed a bill on Wednesday that would promote recycling in the marijuana industry once retail sales officially launch.
New York makes medical marijuana more accessible
WKTZ - UTICA, NY
New York’s much-anticipated legal pot shops could be a year away from opening. But the state is making medical marijuana much more available now.
New York’s much-anticipated legal pot shops could be a year away from opening. But the state is making medical marijuana much more available now.
Oregon
The Potential Expansion of OLCC Marijuana License Moratoria: A Look at House Bill 4016
EMERGE LAW GROUP
A bill – HB4016 – was recently introduced in the Oregon Legislature’s 2022 short session, which, if passed with one or more amendments, could provide the Oregon Liquor and Cannabis Commission (“OLCC”) with the discretion to stop issuing new marijuana producer, processor, wholesaler, and retailer licenses. The initial version of the bill would also provide the…
A bill – HB4016 – was recently introduced in the Oregon Legislature’s 2022 short session, which, if passed with one or more amendments, could provide the Oregon Liquor and Cannabis Commission (“OLCC”) with the discretion to stop issuing new marijuana producer, processor, wholesaler, and retailer licenses. The initial version of the bill would also provide the…
International
Two Canadian cannabis issuers put on notice by Nasdaq over low stock prices
MARIJUANA BUSINESS DAILY
At least two large Canadian cannabis companies have been notified by the Nasdaq that their shares do not meet the stock exchange’s listing standards. Quebec-based Hexo Corp. and Calgary-headquartered Sundial Growers said they both recently received notices from the Nasdaq that they are not compliant with the exchange’s continued listing standards.
At least two large Canadian cannabis companies have been notified by the Nasdaq that their shares do not meet the stock exchange’s listing standards. Quebec-based Hexo Corp. and Calgary-headquartered Sundial Growers said they both recently received notices from the Nasdaq that they are not compliant with the exchange’s continued listing standards.
Business
The risky financial deals that shook up one of America's most promising weed companies
POLITICO
In the heady days of the green rush, iAnthus emerged as one of the most ambitious U.S. companies seeking to cash in on the booming legal marijuana industry.
In the heady days of the green rush, iAnthus emerged as one of the most ambitious U.S. companies seeking to cash in on the booming legal marijuana industry.
Culture
The NFL is funneling $1 million into research on whether cannabis can speed post-game recovery
YAHOO NEWS
A new study, funded by the NFL, is exploring whether cannabis could provide pain relief and faster recovery for injured athletes.
A new study, funded by the NFL, is exploring whether cannabis could provide pain relief and faster recovery for injured athletes.
Reggae-Punk Legends Sublime Announce New California Cannabis Brand
FORBES
The legacy of reggae-punk sensation Sublime announced on Thursday that it has entered an exclusive partnership to market marijuana products for California’s regulated cannabis market beginning later this year. Under the deal, Costa Mesa-based licensed cannabis manufacturer The Healing Plant will produce and distribute a curated line of Sublime-branded cannabis products focused on the healing properties of marijuana, with an expected launch date of summer 2022.
The legacy of reggae-punk sensation Sublime announced on Thursday that it has entered an exclusive partnership to market marijuana products for California’s regulated cannabis market beginning later this year. Under the deal, Costa Mesa-based licensed cannabis manufacturer The Healing Plant will produce and distribute a curated line of Sublime-branded cannabis products focused on the healing properties of marijuana, with an expected launch date of summer 2022.
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