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MondayMay 23, 2022 4:20 pm

420 with CNW — DOJ Urges US Supreme Court to Reject Cannabis Case

The U.S. Department of Justice has asked the U.S. Supreme Court to decline taking up a lawsuit regarding claims for medical marijuana treatment reimbursement for injured employees. A section of the arguments given by the DOJ for its recommendation include a statement that the federal legislature is moving to resolve the conflict between federal marijuana law and state law. The specific question put before the Supreme Court arises from two cases in Minnesota. In both cases, employees wanted compensation after being injured at work. For both of these cases, the supreme court of Minnesota decided that the law at the…

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MondayMay 23, 2022 9:00 am

Flora Growth Corp. (NASDAQ: FLGC) Year-end Report Shows Significant Revenue and Profit Growth, with Expectations for Further Rapid Growth in 2022

Cannabis cultivator and distributor Flora Growth has announced its annual financial and operating results, showing “significantly higher” revenues and profit gain for 2021 over the previous year Flora maintains an outlook for 2022 of an additional 288 to 400 percent revenue growth by year end, largely driven by the company’s acquisition of consumer wellness brand JustCBD The JustCBD acquisition increased Flora’s reach to more than half a million consumers through 14,000 retail stores in the United States Flora’s operations are centered at its Cosechemos cultivation facility in central Colombia, where the company enjoys ideal growing conditions year-round and has easy…

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MondayMay 23, 2022 4:20 am

420 with CNW — US Marijuana Sales in 2021 Exceed Those of Starbucks

People in North America have grown to expect to see a Starbucks outlet almost on every street corner. However, available information on cannabis sales suggests that marijuana could overthrow this coffee giant as legal sales of marijuana exceeded those recorded by Starbucks by a wide margin. This is no small feat by the marijuana industry, given the fact that only 39 of all the states in the U.S. have legalized marijuana in some form, either for medicinal or/and for recreational purposes. In contrast, Starbucks has been around since the early ‘70s, and coffee has always been legal, while the legal…

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FridayMay 20, 2022 4:20 pm

420 with CNW — Governor Newsom Proposes Cannabis Tax Cuts to Combat California’s Illicit Market

Last week, Gov. Gavin Newsom of California unveiled a modified budget proposal whose approval would revise the state’s marijuana tax revenue allocations and eliminate the state’s cannabis cultivation tax. The governor’s announcement comes just months after officials in the state announced that California had allocated $100 million in funding for the development of local cannabis markets, which would involve getting marijuana businesses fully licensed. Newsom’s plan will maintain the 15% excise tax rate on cannabis sales and shift the point of collection and remittance for excise tax to retail from distribution, effective Jan. 1, 2023. This updated budget will also…

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FridayMay 20, 2022 4:20 am

420 with CNW — Poll Finds That Majority of Biden Voters Support Federal Cannabis Legalization

A new poll has discovered that a majority of people in America support letting states set their own marijuana policies, including the legalization of cannabis. The YouGov poll found that 7 in every 10 individuals who voted to elect President Joseph Biden support the nationwide legalization of cannabis, despite Biden’s opposition to the change in policy. This survey emphasizes how unpopular cannabis prohibition is in the United States, with none of the demographics surveyed showing majority support for federal marijuana prohibition. The survey found that 25% of respondents felt that states needed to be able to decide whether or not…

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ThursdayMay 19, 2022 4:20 pm

420 with CNW — Congressional Legislators Voice Support for Cannabis Banking

A bicameral conference charged with negotiating the final text of a large-scale bill intended to make the U.S. competitive against China saw many conferees express support for including cannabis banking language in the manufacturing bill. This was during the first sitting of the conference. At least half a dozen conferees took to the floor to mention the marijuana banking issue when debate on the manufacturing bill started. The majority of these members spoke in support of including the banking bill in the final document agreed upon during the conference. For example, Rep. Earl Blumenauer from Oregon stated that several overdue…

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ThursdayMay 19, 2022 9:45 am

Flora Growth Corp. (NASDAQ: FLGC), A Company Revolutionizing the Plant-Based Wellness and Lifestyle Industry

Flora Growth has been building a design-led collective of plant-based wellness and lifestyle brands Through the work done by its pharma division, the company earned over $31.5 million in gross proceeds in the year ended November 2021 The company still maintains its revenue guidance projection of $35-45 million for 2022, attributed mainly to product diversification initiatives, strengthening its supply chain, and adoption of cost-effective cultivation practices Since its inception, Flora Growth (NASDAQ: FLGC) has remained committed to building a design-led collective of plant-based wellness and lifestyle brands. This objective has defined Flora Growth’s three central pillars- wholesale cannabis, pharmaceutical cannabis,…

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ThursdayMay 19, 2022 4:20 am

420 with CNW — Washington State Offers Cannabis Shops Free Security Checks

In the wake of the recent armed robberies targeting marijuana businesses, Washington state has partnered with a private company to give cannabis businesses access to a free security check so that experts can advise the businesses about what specific steps each company needs to strengthen in order to reduce the likelihood of being adversely affected by this crime wave. This security assessment is an offer from the Liquor and Cannabis Board ("LCB") of the state, and the program will be implemented by Setracon, a security firm based in Tacoma. Currently, there are 180 retail marijuana businesses registered in Washington. All…

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WednesdayMay 18, 2022 4:20 pm

420 with CNW — New Device Could Provide More Accuracy in Measuring Cannabis Impairment

The use of marijuana, whether for medicinal or recreational purposes, has grown rapidly within the United States during the past few years. This growth is said to be due to the wave of legalizations that has swept through several states as well as the changing public attitudes towards this controversial plant. The growing use of marijuana has presented a huge challenge to both law enforcement agencies and employers as they work to detect and prevent cannabis impairment on the roads and at workplaces. Many have looked to breathalyzers to provide a way to quickly identify someone who is acting under…

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WednesdayMay 18, 2022 11:15 am

NECANN Illinois Cannabis Convention

Date: June 10-11, 2022Venue: McCormick Lakeside Center, 2301 S. Lake Shore Drive, Chicago, IL Exhibit Hall Hours10:00 AM – 4:00 PM The 2nd annual NECANN Illinois Cannabis Convention is scheduled for June 10-11, 2022, at the McCormick Lakeside Center, 2301 S. Lake Shore Drive, Chicago, IL The event promises an excellent resource for the cannabis industry and a platform for stakeholders to connect, learn and grow together This convention is ideal for those looking to launch a new cannabis business, start a new career in the cannabis space, or promote their existing cannabis business All stakeholders in the Illinois cannabis…

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