Canadian Senate Deal on Cannabis Bill Timeline Means No Sales Before August

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Leaders in the Senate have reached a deal on a timeline for the legalization of cannabis — a schedule that pushes the start of retail sales past July 1, the date that has been floated in the past as the government’s target.

Peter Harder, Prime Minister Justin Trudeau’s point-man in the Senate, and Larry Smith, the Conservative leader in the upper house, have agreed on a path forward for Bill C-45, CBC News has confirmed.

While Harder had wanted a vote at third reading in May — the last legislative stage before a bill receives royal assent — that vote will now be held on or before June 7.

Health Minister Ginette Petitpas Taylor told members of the Red Chamber last week that it will take 8 to 12 weeks to get the retail system up and running after the legislation receives royal assent. That means Canadians probably can’t expect to buy legal weed before early August.

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Source: Cannabis Business Times

Inadvertent Error Caused Ohio Medical Marijuana Grower to be Denied a License, State Says

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COLUMBUS, Ohio — A state employee’s “inadvertent error” caused one medical marijuana company to receive a lower score than it earned and prevented it from receiving one of 12 available grow licenses, the Ohio Department of Commerce said Thursday.

The scores from one section of the application review process were inadvertently recorded a second time for a different section, affecting 10 of the 110 large grower license applicants, agency spokeswoman Stephanie Gostomski said.

PharmaCann Ohio LLC would have scored 8th and been awarded a provisional license had the correct scores been downloaded from the secure server where reviewers saved the scores. 

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Source: Cannabis Business Times

California Special Needs Students Would Be Allowed to Use Medical Marijuana in School Under New Legislation

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California minors with special needs or severe disabilities who rely on marijuana for medical purposes would be allowed to use the drug at their school under legislation introduced this week by state Sen. Jerry Hill (D-San Mateo).

The measure would allow a parent or guardian to administer the drug in the form of oil, capsules, tinctures, liquids or topical creams on school campuses where the practice has been approved by the county board of education, Hill said.

Students in kindergarten through 12th grade are currently prohibited by law from taking medical cannabis on school campuses, so parents have to take their children off campus to administer the medicine.

“This legislation is about giving students access to the medicine they need so they have a better chance for success in the classroom and in the community,” Hill said.

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Source: Cannabis Business Times

Canadian securities regulators publish revised disclosure expectations for issuers with U.S. marijuana-related activities

PRESS RELEASE

TORONTO, Feb. 8, 2018 /CNW/ – The Canadian Securities Administrators (CSA) today published CSA Staff Notice 51-352 (Revised) Issuers with U.S. Marijuana-Related Activities, which sets out CSA staff’s disclosure expectations for specific risks facing issuers with marijuana-related activities in the U.S.

“In light of political and regulatory uncertainty surrounding the treatment of U.S. marijuana-related activities, CSA staff have updated our disclosure expectations for issuers in this space,” said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. “Today’s notice also follows CSA staff’s consideration of the rescission of the Cole Memorandum and our conclusion that a disclosure-based approach remains appropriate in the current circumstances.”

The revised notice includes additional disclosure expectations that apply to all issuers with U.S. marijuana-related activities, including those with direct and indirect involvement in the cultivation and distribution of marijuana, as well as issuers that provide goods and services to third parties involved in the U.S. marijuana industry. Issuers are expected to provide these disclosures in prospectus filings and other required documents, such as their Annual Information Form and Management’s Discussion and Analysis.

The CSA will continue to monitor developments in the U.S. marijuana industry.

The revised notice can be found on CSA members’ websites and replaces the prior version issued on October 16, 2017.

Additionally, CDS will continue to clear the securities of issuers with U.S. marijuana-related activities.

The CSA, the council of securities regulators of Canada’s provinces and territories, coordinates and harmonizes regulation for the Canadian capital markets.

SOURCE Canadian Securities Administrators

For further information: Kristen Rose, Ontario Securities Commission, 416-593-2336; Hilary McMeekin, Alberta Securities Commission, 403-592-8186; Alison Walker, British Columbia Securities Commission, 604-899-6713; Sylvain Théberge, Autorité des marchés financiers, 514-940-2176; Jason (Jay) Booth, Manitoba Securities Commission, 204-945-1660; Erin King, Financial and Consumer Services Commission, New Brunswick, 506-643-7045; David Harrison, Nova Scotia Securities Commission, 902 424-8586; Steve Dowling, Government of Prince Edward Island, Superintendent of Securities, 902-368-6288; John O’Brien, Office of the Superintendent of Securities Newfoundland and Labrador, 709 729-4909; Rhonda Horte, Office of the Yukon Superintendent of Securities, 867-667-5466; Jeff Mason, Nunavut Securities Office, 867-975-6591; Tom Hall, Office of the Superintendent of Securities Northwest Territories, 867-767-9305; Shannon McMillan, Financial and Consumer Affairs Authority of Saskatchewan, 306-798-4160

The post Canadian securities regulators publish revised disclosure expectations for issuers with U.S. marijuana-related activities appeared first on Cannabis Business Executive – Cannabis and Marijuana industry news.

Source: Cannabis Business Executive

Mycorrhizal Applications Expands Sales and Customer Service Capacity

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Grants Pass, OR: The team at Mycorrhizal Applications (MA) has recently grown with the addition of Amy Schroeder and Morgan Reed. MA is the world’s leading supplier of mycorrhizal inoculants, and with the growing interest and demand for these sustainable soil solutions, Amy and Morgan will each be serving MA in newly formed roles in order to support the continued growth and development of this Southern Oregon based manufacturing company. These additional roles will help support growers coast-to-coast in the United States and Canada, and also provide additional support to the increasing number of horticulture distributors who are selling the MycoApply® mycorrhizal products that MA produces, as well as the additional biological solutions that MA distributes, such as Actinovate® Biofungicides, MGK® Botanical Insecticides, and Valent BioSciences’ Plant Growth Regulators (PGRs).

Amy Schroeder is Mycorrhizal Applications’ newest Sales Account Manager, and she is based in the Ohio Valley, which will give MA a presence in the Midwest and East Coast regions of the US. Amy’s top priority is to support growers and distributors in Ohio, Michigan, and Indiana, and her territory will expand to include Illinois, Kentucky, West Virginia, Tennessee, Missouri, Iowa, Wisconsin, and Minnesota. Amy received her Bachelor of Science in Biology from Shawnee State University and her Master of Science in Soil and Water Science from the University of Florida.  For the past 5 years of her professional career, Amy has worked with growers in the turf and agriculture industries to maximize fertilizer efficiency. With her rich scientific background, Amy is able to provide in-depth technical assistance with mycorrhizal applications in a variety of types of horticulture production and professional mycorrhizal uses.

Morgan Reed has also taken on a newly developed position at MA, in the role of Sales & Marketing Support Specialist. Morgan’s main responsibilities revolve around customer service and support for MA’s distributors.  She is fielding customer and distributor phone calls, providing customer service, handling inquiries, processing sales orders, and even helping to manage the logistics of MA’s busy trade show calendar.  Morgan recently graduated from Southern Oregon University with her Bachelor of Science Degree in Business. This new Sales & Marketing Support Specialist position represents another expansion to the MA sales team, and provides additional capacity to handle customer questions and provide distributor support.

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Source: Cannabis Business Times

Marijuana Industry In California Is Poised To Be A Leader In Job Creation

California is poised to become the largest recreational cannabis market in the world. It’s also a great place to get a job helping marijuana growers, processors, and sellers or work in adjacent services including legal advice, marketing and security for the nascent industry.

That’s according to ZipRecruiter, an online employment marketplace, whose data shows that Los Angeles and San Francisco advertised the most marijuana-focused jobs in the legal marketplace. “When it comes to growth in this industry, we see the most significant growth in states that recently loosened their marijuana laws,” said the report.  California’s recreational cannabis market just opened, but it’s already topping the list of marijuana-related help-wanted postings. The next biggest employment centers are Denver and Seattle, major hubs in the longer-established recreational markets of Colorado and Washington.

The opening of the California market is proceeding slowly as each municipality rolls out its own regulations, but predictably, business are looking to locate near large concentrations of consumers. According to the Cannabis Marketplace Report published by Consumer Research Around Cannabis, there are approximately 13.7 million adults over the age of 21 in the Los Angeles Greater Metropolitan Area and approximately 5.3 million of those people are cannabis consumers. California’s legal medical marijuana was already 3.8B$ in 2017 according to Ackrell Capital, an investment and research firm. [Read more at Forbes]

The post Marijuana Industry In California Is Poised To Be A Leader In Job Creation appeared first on Cannabis Business Executive – Cannabis and Marijuana industry news.

Source: Cannabis Business Executive

Colorado Retail Marijuana Industry Continues to Grow With Increasing Sales

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After five years of legalization, cannabis science and industry continues to grow, with Colorado marijuana sales earning over $1.5 billion for the calendar year of 2017 and earning nearly $4.5 billion since 2014, according to the Colorado Department of Revenue.

“The science of cannabis is moving forward at lightning speed, and we’re really seeing developments coming from research that is moving the industry forward,” said Max Poling, the marketing manager of the Fort Collins Infinite Wellness Center.

Infinite Wellness Center is one of a handful of retail and medical cannabis dispensaries owned and operated in Fort Collins.

Even with federal backlash looming over the retail cannabis industry, new implementations including new forms of ingestion, and even things such as online ordering, continue to grow.

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Source: Cannabis Business Times

North Dakota Awards Medical Marijuana Seed-to-Sale Tracking Contract to BioTrackTHC

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FORT LAUDERDALE, Fla., Feb. 15, 2018 /PRNewswire/ — The North Dakota Department of Health, the government agency responsible for implementing the state’s voter-approved medical marijuana program, has awarded the contract to BioTrackTHC to develop and implement the state’s medical marijuana seed-to-sale traceability system. The system will allow designated regulatory officials to enforce compliance across the state’s marijuana seed-to-sale supply chain, providing transparency and accountability over the licensed medical marijuana compassion centers, according to a press release.

“As we begin implementing North Dakota’s medical marijuana program, the state needed a medical marijuana tracking system to assist in implementing a well-regulated program,” said Jason Wahl, director of the Division of Medical Marijuana within the North Dakota Department of Health. “We are excited to begin working with BioTrackTHC who has a successful record in implementing traceability systems in other states.”

Usable marijuana will be available to qualifying patients who have a debilitating medical condition as defined by state law and are registered through the Division of Medical Marijuana.  State law allows for the registration of up to 10 compassion centers: two grower/manufacturing facilities and eight dispensaries in the state.

“We are grateful to have the opportunity to partner with the Department of Health and are excited to collaborate with them to ensure the program gets off the ground transparently, with sound design, and on time,” said Patrick Vo, president and CEO of BioTrackTHC. “We look forward to playing a key role in bringing safe access to medical marijuana for all North Dakotans through a proven and secure track and trace system.”

BioTrackTHC now holds eight state-level government tracking contracts as well as one with the city of Arcata, Calif., making them a leading provider of government traceability systems in marijuana. Having never missed a government traceability system deployment deadline and having demonstrated experience in implementing and maintaining both government and private-sector marijuana seed-to-sale systems in medical and recreational markets, the company looks forward to applying its expertise to maximize the success of another emerging market. BioTrackTHC’s goal is to help the industry to thrive by demonstrating that marijuana programs can operate with transparency and accountability, providing peace of mind to stakeholders and ensuring safety for the patients and the community.

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Source: Cannabis Business Times

Berkeley, Calif., Cuts Its Cannabis Tax Rate in Half to Attract, Keep Businesses

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In a boost to a fledgling industry, the Berkeley City Council slashed the city’s recreational cannabis tax rate in half Tuesday to attract and keep businesses in town.

The tax rate, now 5 percent, is among the lowest in the Bay Area and could put pressure on neighboring cities to cut theirs, too.

Critics decried the move as a relinquishing of vital funds after just six weeks of legal adult-use sales. They pointed out that no formal analysis had been done to show whether the possible benefits spurred by new business creation would offset the losses in city revenue.

But business owners and council members said the legislation, introduced by Mayor Jesse Arreguin, was an attempt to level the playing field and bring cannabis in line with other industries. They said the old rate of 10 percent was arbitrary from its inception.

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Source: Cannabis Business Times

North Dakota's Recreational Marijuana Petitions Run Into Problems

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FARGO— Some of the petitions to legalize recreational marijuana in North Dakota have hit unexpected roadblocks after US Bank refused to notarize them.

Darius Endres said he took six filled packets to the US Bank on South University Avenue to get them notarized, but was shocked when the banker refused to verify the signatures since the petition was about marijuana.

Endres said, “And I said, ‘Well you’re not really signing the petition. You’re just notarizing my signature.’ Aren’t the merits of the petition kind of irrelevant?”

Minutes later, Endres said he went to another bank with no problem.

“I go a block north to Gate City Bank. That guy says, ‘I don’t even care what it’s for. I just need to check your ID, make sure that’s it, that matches the signature, I have no problems.’ Done,” said Endres.

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Top image: © Katherine | Adobe Stock

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Source: Cannabis Business Times