New Poll Determines Majority of New Jersey Voters Support Adult-Use Cannabis Legalization

New Poll Determines Majority of New Jersey Voters Support Adult-Use Cannabis Legalization

Multistate cannabis operator Red White & Bloom Brands (RWB) announced July 22 that it had signed a binding letter of intent to acquire Platinum Vape, a producer of vape cartridges, edibles and flower that is spearheaded by father-and-son team George and Cody Sadler.

Previously focused on the Michigan, Illinois, Massachusetts and Florida cannabis markets, RWB will enter California’s market through its first acquisition since going public earlier this year.

Platinum sells its products at more than 700 retailers throughout Michigan, California and Oklahoma, and co-founder and President George Sadler said the company has been building a relationship with RWB for the past few years.

“It was maybe three years ago when [RWB] talked to us about doing a purchase and at that time, it just didn’t work out—[it] just didn’t seem feasible,” Sadler told Cannabis Business Times and Cannabis Dispensary. “This all came along kind of rapidly, but our relationship has been there for quite some time.”

For Sadler and his son, Cody, Platinum Vape has been their baby for the past nine years, since the company’s inception, and both Sadler and RWB CEO Brad Rogers said they view the acquisition as more of a partnership between the two companies.

“It’s not something we want to do in a walkaway deal,” Sadler said. “It was more incorporating us with what their future plans are and growing. Having that freedom for Cody and I has been paramount.”

The acquisition will not change the structure of Platinum’s business, he added, and Rogers agreed that the Platinum team will be critical in the future success of both companies.

“When you buy Jack Daniels, you want Jack to come with it,” Rogers said. “I wouldn’t even look at it as a buy, really. It’s a partnership because these guys aren’t going anywhere. … This is a phenomenal operation. We don’t want to touch it other than [to] give them the resources and the power to go and build.”

Platinum’s roughly 200 employees will continue in their roles, Sadler added, and RWB’s support will allow the company to continue to grow.

“It’s on a path, but I think now, with Red White & Bloom, it’s a much bigger path,” he said. “I think together, we’re going to see a lot of the growth.”

Photo courtesy of Red White & Bloom

RWB has previously focused on the Michigan, Illinois, Massachusetts and Florida cannabis markets, and will now expand into California with the acquisition of Platinum.

The merger reflects the broader M&A landscape in the cannabis industry, Sadler added, pointing to the market’s explosive growth in 2017 versus the slowdown the industry has seen in recent months.

“These companies have been valued at a billion dollars, and look at what some of these companies have done,” he said. “Some have finished off these deals on paper only, and there’s no backbone to any of these deals other than inflated values that go into the market and get people to purchase overpriced stock. … That’s why this deal here, I think, is pretty solid. [It looks] to the truth of where these companies are and … [where they will be in] the future versus just, ‘Hey, you’re worth this much money. We’re going to pay you out and then you’ll be on your way.’ … Platinum Vape is going to be around for a long time, not just [the] next year or two and then get liquidated and thrown off to the side.”

For Rogers, the value of the acquisition lies in reaching Platinum’s broader audience and market share with the Sadlers’ vision leading the way.

“On our end, … there’s no change on the direction, just a lot of backbone from Red White & Bloom,” Sadler said.

Platinum will continue its planned expansion to Arizona’s market, he added, as well as continue with planned product launches in the coming months. However, the company can now lean on RWB’s deeper knowledge of operating in multiple states to more rapidly achieve its goals.

“I just see [these things] happening a lot quicker, and with the depth that we now have, there’s a lot more knowledge behind it,” Sadler said.

RWB is in discussions with Big Box retailers, such as Walgreens and CVS, to expand product distribution across the U.S., and will rely on Platinum’s brand awareness and robust marketing strategies to grow both brands.

“George and Cody are integral in the growth and the pieces of how this is going to play out and what we’re bringing together right now,” Rogers said. “You’re going to see a lot more come from us collectively in a very short order.”

Published at Wed, 29 Jul 2020 15:05:00 +0000

MCBA to Host Webinar on Social Equity and Real Estate

MCBA to Host Webinar on Social Equity and Real Estate

Multistate cannabis operator Red White & Bloom Brands (RWB) announced July 22 that it had signed a binding letter of intent to acquire Platinum Vape, a producer of vape cartridges, edibles and flower that is spearheaded by father-and-son team George and Cody Sadler.

Previously focused on the Michigan, Illinois, Massachusetts and Florida cannabis markets, RWB will enter California’s market through its first acquisition since going public earlier this year.

Platinum sells its products at more than 700 retailers throughout Michigan, California and Oklahoma, and co-founder and President George Sadler said the company has been building a relationship with RWB for the past few years.

“It was maybe three years ago when [RWB] talked to us about doing a purchase and at that time, it just didn’t work out—[it] just didn’t seem feasible,” Sadler told Cannabis Business Times and Cannabis Dispensary. “This all came along kind of rapidly, but our relationship has been there for quite some time.”

For Sadler and his son, Cody, Platinum Vape has been their baby for the past nine years, since the company’s inception, and both Sadler and RWB CEO Brad Rogers said they view the acquisition as more of a partnership between the two companies.

“It’s not something we want to do in a walkaway deal,” Sadler said. “It was more incorporating us with what their future plans are and growing. Having that freedom for Cody and I has been paramount.”

The acquisition will not change the structure of Platinum’s business, he added, and Rogers agreed that the Platinum team will be critical in the future success of both companies.

“When you buy Jack Daniels, you want Jack to come with it,” Rogers said. “I wouldn’t even look at it as a buy, really. It’s a partnership because these guys aren’t going anywhere. … This is a phenomenal operation. We don’t want to touch it other than [to] give them the resources and the power to go and build.”

Platinum’s roughly 200 employees will continue in their roles, Sadler added, and RWB’s support will allow the company to continue to grow.

“It’s on a path, but I think now, with Red White & Bloom, it’s a much bigger path,” he said. “I think together, we’re going to see a lot of the growth.”

Photo courtesy of Red White & Bloom

RWB has previously focused on the Michigan, Illinois, Massachusetts and Florida cannabis markets, and will now expand into California with the acquisition of Platinum.

The merger reflects the broader M&A landscape in the cannabis industry, Sadler added, pointing to the market’s explosive growth in 2017 versus the slowdown the industry has seen in recent months.

“These companies have been valued at a billion dollars, and look at what some of these companies have done,” he said. “Some have finished off these deals on paper only, and there’s no backbone to any of these deals other than inflated values that go into the market and get people to purchase overpriced stock. … That’s why this deal here, I think, is pretty solid. [It looks] to the truth of where these companies are and … [where they will be in] the future versus just, ‘Hey, you’re worth this much money. We’re going to pay you out and then you’ll be on your way.’ … Platinum Vape is going to be around for a long time, not just [the] next year or two and then get liquidated and thrown off to the side.”

For Rogers, the value of the acquisition lies in reaching Platinum’s broader audience and market share with the Sadlers’ vision leading the way.

“On our end, … there’s no change on the direction, just a lot of backbone from Red White & Bloom,” Sadler said.

Platinum will continue its planned expansion to Arizona’s market, he added, as well as continue with planned product launches in the coming months. However, the company can now lean on RWB’s deeper knowledge of operating in multiple states to more rapidly achieve its goals.

“I just see [these things] happening a lot quicker, and with the depth that we now have, there’s a lot more knowledge behind it,” Sadler said.

RWB is in discussions with Big Box retailers, such as Walgreens and CVS, to expand product distribution across the U.S., and will rely on Platinum’s brand awareness and robust marketing strategies to grow both brands.

“George and Cody are integral in the growth and the pieces of how this is going to play out and what we’re bringing together right now,” Rogers said. “You’re going to see a lot more come from us collectively in a very short order.”

Published at Wed, 29 Jul 2020 21:38:00 +0000

Why CLKA Embodies a New Theme in this Bull Market

Why CLKA Embodies a New Theme in this Bull Market

Uncomfortable facts are still facts. You don’t necessarily want to think about them, but they are still true. And, to be a responsible investor, you have to look at the world with a computational self-honesty.

A good example of this is the number of millionaires and billionaires in the world. Even as we wallow in a pandemic recession, the number of super-rich people grows and grows.

According to recent economic research, the rich are likely to get much richer from the current turmoil because balance sheets are everything: If you don’t have enough capital to maintain your capital structure for any organization, you may have to let it go to someone who has the cash to see it through.

The simple example is to imagine a mom-and-pop breakfast restaurant up the street. They may have to shut their doors and sell the business to Denny’s or IHOP in the months ahead because they don’t have deep enough pockets to survive for enough months with basically no revenues during the pandemic crisis. As such, the lease, the kitchen equipment, the location, and its relationship with the community – all of that is still a business. But it just becomes a new Denny’s because Denny’s has the deep pockets necessary to make it to the other side of this virus.

Take that as a metaphorical map of what’s happening right now. It’s happening in everything. It happened in the stock market rapidly in March. Stocks fell so fast that overleveraged, shallow-pocketed investors were forced to dump positions into the hands of richer people at distressed prices, who are now much, much richer for that transition. It’s not an everyone-hurts cyclical downturn. It’s a wealth transfer, plain and simple.

It’s not fun to think about it that way. But as investors, we need to examine the bloodless verdict of the marketplace and act accordingly. In this case, there are a number of rich-get-richer trades to be had – with big tech being the most obvious, and most played out. But we want to focus on a relatively new angle on this dynamic that may be relatively underappreciated: the rare custom luxury goods by-appointment consumer market.

And the stock that may most perfectly capture this theme right now is small-cap Clikia Corp (OTCMKTS:CLKA).

The Model… and the Money

Clikia Corp (OTCMKTS:CLKA) engages in the sale of extremely high-end watches and jewelry, with plans to expand into a number of other product categories, potentially including rare custom luxury cars, clothing, electronics, and possibly even real estate. The model is the key point to understand. It is based on access to a network of suppliers and buyers. That amounts to “being in with the super-rich”.

The company’s founder and CEO, Anil Idnani, has established those relationships and brings them to the table in the form off Maison Luxe, which is now a wholly-owned subsidiary of Clikia.

The establishment of this model has instantly turned around the fortunes of this left-for-dead stock, and we’re not sure the market has priced in the transition, which is a key reason we point it out here.

Clikia is suddenly doing solid seven-figure sales seemingly overnight, after booking basically nothing in sales for the prior few years.

We get this impression straight from the company’s official materials, which suggest CLKA is on pace for well north of $2 million in sales in 2020. That is coming from Maison Luxe individual sales deals with very-high-net-worth clients, as well as its negotiated relationships with duty-free sellers in Colorado, Alaska, and the US Virgin Islands.

That last point was brought up in a recent press release in which the company noted that it had already booked over $300K in sales in recent weeks on a wholesale basis with its duty-free partners.

The combination is a great start. But the ceiling looks to be quite a bit higher even for this small part of the equation.

“The idea is to grow a brand that sources retail markets with responsibly sourced and priced watches,” remarked Idnani. “That’s typically nearly impossible to find. This is now more the case than ever due to a supply shock as factories shut down or halt production of luxury goods. However, demand hasn’t dropped at all this year despite the health crisis and resulting economic turbulence. The result is rising prices on inventory we have in-house.”

The Path Ahead… and the Money

The vision for the company is to leverage its superior market positioning and experienced leadership in the domestic US custom luxury watch and jewelry space as a launching point for expansion into the global custom luxury goods marketplace, with potential for expansion into high fashion, exotic custom automobiles, luxury accessories, and other by-appointment, rare luxury items.

The model that Maison Luxe has developed, in managing by-appointment disruption in market inefficiencies in custom high-end luxury goods, has wide applicability to geographic and product category expansion. Additionally, the Company believes that this model has not been widely developed in terms of market competition, creating a strong opportunity for return on invested capital in expansion.

Expansion in both geographic and product category creates the potential for strong expansion in total addressable market for Maison Luxe in the future.

The other key here to appreciate is the feedback loop of success available to a company in this space that starts with the right connections.

As a company like CLKA sees greater access to capital, management believes margin expansion will become a function of volume purchasing for key items that carry little risk of long-term demand shortfalls and are also capable of price appreciation over time – which is a feature of inventory factors in the high-end custom luxury goods market.

Future capital deployment is anticipated to emphasize margin expansion through optimizing held inventories, creating volume input price advantages for any company in this position.

Additional core investments will be made in multifaceted marketing strategies, including the development of key influencer relationships, with an emphasis on social media networking. In addition, significant investments are expected to go toward developing additional product sourcing relationships outside of the US market and in multiple additional product categories.

And, again, the results so far are actually on track to be almost astonishingly good – as far as we can tell from company materials – in terms of turning Clikia around from a relative nothing to a company now driving huge topline growth and millions of dollars of cash flowing in the door.

This article is part of JournalTranscript.com Networks. Read the JournalTranscript.com Networks Disclaimer.

Published at Wed, 29 Jul 2020 06:12:10 +0000

Mydecine Building Its Psychedelics Footprint

Mydecine Building Its Psychedelics Footprint

Denver-based Mydecine Innovations Group (CAN:MYCO / US:MYCOF) is turning heads in the emerging psychedelics industry. Some important recent announcements are helping to position Mydecine as one of the leaders among publicly-listed psychedelics companies.

Specifically, one key acquisition and one high-profile appointment have elevated the company’s status in the psychedelics industry.

Acquisition of NeuroPharm Inc

On June 10th, Mydecine announced the acquisition of NeuroPharm Inc. A definitive agreement was signed on July 14, 2020.

Much of the new clinical research on the medicinal potential of psychedelic drugs has focused on depression (and anxiety) or addiction.

However, another significant mental health issue where psychedelics are showing great potential is in the treatment of Post-Traumatic Stress Disorder (PTSD). This is the focus of NeuroPharm.

NeuroPharm’s management is comprised of research scientists and military personnel.

In other words, it’s a team divided between experts on the issue of PTSD (military personnel) and experts on treating it (the scientists).

A recent article on NeuroPharm in High Times provides additional details here.
 

“Our mission is to develop and bring to market treatments addressing the mental health conditions frequently experienced by veterans, including PTSD, depression and anxiety,” said Colonel (Ret’d) Pucci, CEO of NeuroPharm. “We understand the unique circumstances of the veteran community and are devoted to treating these substantial unmet needs. Our collaborative partnership with Mydecine will accelerate our ability to address the enormous challenge of restoring the overall wellness in the veteran, EMS and frontline personnel communities. We are most pleased to be part of the Mydecine family of companies.”

NeuroPharm itself is based in Canada, so that is where this PTSD research is originating. But the big market for any PTSD treatment is obviously the United States.

In the U.S. military, an estimated 11 – 20% of veterans are affected by PTSD in any given year. Currently, over 8 million Americans suffer from PTSD.

Globally, a 2018 article projected that the PTSD treatment market would reach $10.7 billion by 2026. That is based upon an estimated CAGR of 4.5%.

NeuroPharm isn’t Mydecine’s only recent acquisition.

The company has also completed its acquisition of MindLeap. MindLeap is developing a digital health platform dedicated to psychedelic drug applications.

Mydecine Health Sciences is the company’s original psychedelics division. Based in Denver, it operates out of a 7,500 square foot research center.

Stellar appointment to research team

On July 7, 2020, Mydecine announced the appointment of Dr. M.S. Reddy to its Scientific Advisory Board.

To most people, Dr. Reddy will be known as a 7-time nominee for the Nobel Peace Prize. Factoids like that will help to immediately put Mydecine on the map for new investors.

However, this is not the mere appointment of some high-profile figurehead.

Dr. Reddy is also an internationally renowned biotech research scientist.
 

  • Holder of over 150 U.S. and international patents
  • More than 100 of these patents have already been commercialized

Dubbed “the Cheese King” because of his success in dairy and cheese biotechnology, Reddy is also a best-selling author. In addition, Dr. Reddy boasts a long list of research honors and awards on his illustrious resume.

This is far from Mydecine’s only significant management appointment.

The company has recently announced other notable additions on May 26th, June 23rd, and June 30th.

At this early stage of evolution in the psychedelics industry, most publicly-listed companies are still at the stage of simply laying out their future intentions with respect to psychedelics-based operations. Mydecine Innovations Group has already established a strong operational foundation from which it can move forward on its psychedelics-based initiatives.

For psychedelics investors, Mydecine appears to be one of the new contenders in this emerging industry.
 

Published at Mon, 27 Jul 2020 06:00:06 +0000

New York Senate Passes Bill Protecting Medical Marijuana Patients From Eviction

New York Senate Passes Bill Protecting Medical Marijuana Patients From Eviction

The New York State Senate approved a bill on Tuesday that would grant housing protections for registered medical marijuana patients. The measure, S.4117, “prohibits the eviction of tenants for using medical marijuana for a certified medical use,” according to a summary of the bill.

S.4117 was originally introduced in the New York State Senate by Democratic Sen. Anna Kaplan in February 2019. The bill was approved by the Senate in April of that year and referred to the State Assembly, where it died in January 2020.

That sent the measure back to the Senate, where it was passed again by the chamber this week by a vote of 58 to 2. The bill has been referred again to the State Assembly, where it has been assigned to the Housing Committee for consideration as A.7764.

“This legislation would seek to ensure that tenants lawfully using medical marihuana are protected from eviction proceedings,” a memo accompanying the Assembly version of the legislation cites as justification for its passage.

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Published at Fri, 24 Jul 2020 19:58:35 +0000

House Approves Legislation Allowing CBD Use By Military

House Approves Legislation Allowing CBD Use By Military

The U.S. House of Representatives approved an amendment to a defense spending bill on Monday that would allow members of the military to use CBD. The amendment to the National Defense Authorization Act (NDAA), from Democratic Rep. Tulsi Gabbard of Hawaii, was approved by a vote of 360 to 71 as part of a package of amendments to the House version of the bill.

“The Secretary of Defense may not prohibit, on the basis of a product containing hemp or any ingredient derived from hemp, the possession, use, or consumption of such product by a member of the Armed Forces,” the amendment from Gabbard reads.

The amendment is a response to a Department of Defense policy issued in February by Under Secretary of Defense for Personnel and Readiness Matthew P. Donovan that directed all branches of the military to enact prohibitions on CBD and other hemp products, despite the crop being legalized with the passage of the 2018 Farm Bill. The memo from Donovan said that CBD use posed “a serious risk to the viability of the military drug testing program,” which is unable to distinguish between THC from hemp and other forms of cannabis.

Read More

Published at Fri, 24 Jul 2020 20:04:27 +0000

Pure Harvest Corporate Groups Elevated Harvest CBD Products Now Available in Colorado Wellness Clinics, Sculpted MD

Pure Harvest Corporate Groups Elevated Harvest CBD Products Now Available in Colorado Wellness Clinics, Sculpted MD

Pure Harvest Corporate Group, Inc. (OTC: PHCG), an emerging cannabis and hemp-CBD holding company, is pleased to announce that its wholly-owned subsidiary, Pure Harvest Hemp, Inc., has partnered with Sculpted MD to carry Pure Harvest Hemp’s Elevated Harvest line of hemp-CBD products in Sculpted MD health clinics.

Sculpted MD is a chain of health clinics dedicated to providing professional medical services in Colorado and Wyoming. Pure Harvest Hemp and Sculpted MD are implementing a retail pilot program to introduce Elevated Harvest products in four of Sculpted MD’s current health clinics. Upon successful completion of the pilot program, Sculpted MD will carry the Elevated Harvest product line in the remainder of its existing health clinics.

“We are thrilled to be partnering with Sculpted MD health clinics because their client base is a perfect fit for our product line. Sculpted MD has an aggressive expansion plan that complements our business model and should result in both entities achieving success,” stated Daniel Garza, CEO of Pure Harvest Hemp.

“Elevated Harvest offers a complete suite of CBD products that effectively matches our dedication to providing the highest quality care for our patients,” said Spencer Carrado, CEO of Sculpted MD.

The full line of Elevated Harvest products can now be purchased at select Sculpted MD health clinics.

About Pure Harvest Corporate Group

The Pure Harvest Corporate Group, Inc. (OTCQB: PHCG) is a publicly traded holding company operating in various segments of the cannabis and hemp-CBD industries. The PHCG team is committed to formulating, manufacturing, and distributing high-quality cannabis and hemp-CBD consumer products in markets where it is legal to do so. The Company has developed numerous retail brands and product lines that are currently available for purchase in select markets. Pure Harvest intends to grow its cannabis and hemp-CBD operations and expand globally as the laws regarding cannabis and hemp-CBD are reviewed and rewritten to repeal their prohibition.

Forward-Looking Statements

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933, are subject to Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbors created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate. Future events and results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements.

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Source: GlobeNewswire (July 24, 2020 – 9:00 AM EDT)

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Published at Fri, 24 Jul 2020 13:11:00 +0000

FDA Submits ‘Cannabidiol Enforcement Policy’ Draft to White House

FDA Submits ‘Cannabidiol Enforcement Policy’ Draft to White House

On July 22, the Boston Cannabis Board (BCB) adopted new rules and regulations. They state that the BCB’s role is to grant licenses to applicants “for cannabis establishments within the City of Boston while ensuring Licenses are granted in such a manner so as to ensure equity, quality, and community safety.

“Specifically, the BCB is the siting authority for such establishments evaluating the proposed time, place, and manner in which these establishments are approved, open, and operate.”

Cannabis Business Times and Cannabis Dispensary spoke with Lydia Edwards, councilor of Boston’s District 1, about the rules and regulations, and she shared several points of contention.

The BCB noted in its new rules and regulations that it “does not have the authority or ability to negotiate host community agreements.” However, Edwards said host community agreements (HCAs) should be part of the applications that come before the BCB and should be approved by the board. Those agreements are part of the local approval process that the Massachusetts Cannabis Control Commission mandates in its licensing scheme.

“Negotiations are currently happening “in the dark,” she said. “So, to what end? To whose benefit? The whole point and the spirit of the law and the reform that Councilor [Kim] Janey was trying to put in, was that a public process with people representing the community would be the ones negotiating and finalizing and getting the HCAs done for everyone to see. And instead, they decided to interpret the regulations to allow for a song and dance.”

The BCB also didn’t address in its rules and regulations the topic of potential disparities between people who are granted brick-and-mortar and delivery licenses. The city previously established a 1:1 ratio for granting social equity and other licenses. However, due to the state setting aside delivery licenses to social equity applicants for the next two years, Edwards wrote in public comment prior to the adoption of the new rules, this could “create an industry with a disproportionate number of dispensaries being operated by non-equity license holders.”

Edwards proposed the BCB issuance of separate license classes for delivery businesses than brick-and-mortar dispensaries and a separate fee structure. Another idea she proposed in public comment is for the BCB to “create an additional license class for cultivation and manufacturing businesses.”

These changes don’t appear in the new rules and regulations, Edwards told CBT and CD. “The whole point of this damn statute is equity and race analysis,” she said. “I am telling you, we are set up so that there are going to be a bunch of white owners, and they’re not incentivized now to get any people of color to own with them if they can just go get Black folks to deliver for them.”

In addition, Edwards said the city needs to provide license applicants with a distinct timeline, which is something that isn’t in the new rules and regulations. “That, I think, is by far the biggest frustration most people have, because they are still paying rent, they put up time, they put up money, they quit their jobs, they’ve done whatever pursuing this—and like, any other business, they would have a predictability.

“Their lawyers or their consultants would be able to say, ‘This is how long it takes to get this part, this part, this part, then you get your decision, and if it’s for you, you go this way; if it’s against you, you go this way.’”

Edwards also weighed in on Massachusetts lawmakers’ efforts to pass a police reform bill. She said she thinks the main issue that needs addressed relates to qualified immunity, a process that protects police from lawsuits and has become a part of the ongoing debate surrounding racism and police brutality.

When asked what the cannabis industry should know about these discussions in Boston and Massachusetts more broadly, Edwards said: “I believe that this industry needs to take a long, hard look at who’s involved and who’s running it, and also needs to be holding them accountable. You cannot just walk in the middle of the most pained history on war on drugs on certain communities and then say, ‘I’m here to make money, and I’ve got nothing to do with that.’ And that’s what I’m seeing too much of.”

Published at Fri, 24 Jul 2020 17:57:00 +0000

Nevada Compliance Board Holds Inaugural Meeting, FDA Issues Much-Anticipated Report: Week in Review

Nevada Compliance Board Holds Inaugural Meeting, FDA Issues Much-Anticipated Report: Week in Review

On July 22, the Boston Cannabis Board (BCB) adopted new rules and regulations. They state that the BCB’s role is to grant licenses to applicants “for cannabis establishments within the City of Boston while ensuring Licenses are granted in such a manner so as to ensure equity, quality, and community safety.

“Specifically, the BCB is the siting authority for such establishments evaluating the proposed time, place, and manner in which these establishments are approved, open, and operate.”

Cannabis Business Times and Cannabis Dispensary spoke with Lydia Edwards, councilor of Boston’s District 1, about the rules and regulations, and she shared several points of contention.

The BCB noted in its new rules and regulations that it “does not have the authority or ability to negotiate host community agreements.” However, Edwards said host community agreements (HCAs) should be part of the applications that come before the BCB and should be approved by the board. Those agreements are part of the local approval process that the Massachusetts Cannabis Control Commission mandates in its licensing scheme.

“Negotiations are currently happening “in the dark,” she said. “So, to what end? To whose benefit? The whole point and the spirit of the law and the reform that Councilor [Kim] Janey was trying to put in, was that a public process with people representing the community would be the ones negotiating and finalizing and getting the HCAs done for everyone to see. And instead, they decided to interpret the regulations to allow for a song and dance.”

The BCB also didn’t address in its rules and regulations the topic of potential disparities between people who are granted brick-and-mortar and delivery licenses. The city previously established a 1:1 ratio for granting social equity and other licenses. However, due to the state setting aside delivery licenses to social equity applicants for the next two years, Edwards wrote in public comment prior to the adoption of the new rules, this could “create an industry with a disproportionate number of dispensaries being operated by non-equity license holders.”

Edwards proposed the BCB issuance of separate license classes for delivery businesses than brick-and-mortar dispensaries and a separate fee structure. Another idea she proposed in public comment is for the BCB to “create an additional license class for cultivation and manufacturing businesses.”

These changes don’t appear in the new rules and regulations, Edwards told CBT and CD. “The whole point of this damn statute is equity and race analysis,” she said. “I am telling you, we are set up so that there are going to be a bunch of white owners, and they’re not incentivized now to get any people of color to own with them if they can just go get Black folks to deliver for them.”

In addition, Edwards said the city needs to provide license applicants with a distinct timeline, which is something that isn’t in the new rules and regulations. “That, I think, is by far the biggest frustration most people have, because they are still paying rent, they put up time, they put up money, they quit their jobs, they’ve done whatever pursuing this—and like, any other business, they would have a predictability.

“Their lawyers or their consultants would be able to say, ‘This is how long it takes to get this part, this part, this part, then you get your decision, and if it’s for you, you go this way; if it’s against you, you go this way.’”

Edwards also weighed in on Massachusetts lawmakers’ efforts to pass a police reform bill. She said she thinks the main issue that needs addressed relates to qualified immunity, a process that protects police from lawsuits and has become a part of the ongoing debate surrounding racism and police brutality.

When asked what the cannabis industry should know about these discussions in Boston and Massachusetts more broadly, Edwards said: “I believe that this industry needs to take a long, hard look at who’s involved and who’s running it, and also needs to be holding them accountable. You cannot just walk in the middle of the most pained history on war on drugs on certain communities and then say, ‘I’m here to make money, and I’ve got nothing to do with that.’ And that’s what I’m seeing too much of.”

Published at Sat, 25 Jul 2020 12:30:00 +0000

HEXO Vapes Now Available Across Canada

HEXO Vapes Now Available Across Canada

HEXO Corp (TSX: HEXO; NYSE: HEXO) is proud to launch its line of vape products to both adult-use and medical consumers, across Canada.

“At HEXO, we pride ourselves in ensuring our consumers have access to high-quality, reliable and consistent cannabis products,” said Sebastien St. Louis, CEO and co-founder of HEXO Corp. “We are thrilled to launch our vape products across Canada as we continue to focus on innovation and launching additional 2.0 products across all of our brands.”

Prior to releasing its line of vapes, the Company conducted testing to evaluate the taste, tolerability of effects and short-term undesired effects of its proprietary terpene blends.

HEXO’s vape products currently include three ready-to-use vape pens and four 510-thread cartridges, in popular strain-inspired terpene blends. HEXO vapes are available across Canada to both adult-use and medical consumers.

About HEXO Corp

HEXO Corp is an award-winning consumer packaged goods cannabis company that creates and distributes innovative products to serve the global cannabis market. The Company serves the Canadian adult-use markets under its HEXO Cannabis, Up Cannabis and Original Stash brands, and the medical market under HEXO medical cannabis. For more information please visit hexocorp.com.

Investor Relations:
invest@HEXO.com
www.hexocorp.com

Media Relations:
(819) 317-0526
media@hexo.com

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Source: GlobeNewswire (July 23, 2020 – 4:30 PM EDT)

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Published at Fri, 24 Jul 2020 02:13:25 +0000