Chris@CNW, Author at CannabisNewsWire

FridaySep 27, 2024 4:20 pm

420 with CNW — FIVE Ways to Keep Finances Healthy in Marijuana Industry

Marijuana leaders need to use sound financial techniques when operating in the cannabis sector. Given the complexities of the space, companies must devise strategies such as establishing relationships with field experts and looking for fresh revenue streams to differentiate themselves and remain competitive. Here are five crucial financial pointers for marijuana company owners: Focus on increasing cash flow Maintaining a healthy cash flow is essential for any marijuana company. This entails keeping a careful eye on earnings and outlays in addition to monitoring key performance indicators such as yield per square foot for growers or average sales per customer for…

FridaySep 27, 2024 10:00 am

Missouri Plagued by Predatory Contracts in Marijuana Social Equity Program

Last year, Destiny Brown was told that she had been recruited to operate and own a small marijuana dispensary in Missouri. Michael Halow, a marijuana investor, informed Brown that the cannabis crime on the criminal record of her father and her status as a disabled veteran made her qualified for a microbusiness license. These qualifications had been designed for licenses like these to be awarded to disadvantaged owners of businesses, such as individuals with nonviolent cannabis offenses and lower incomes, as well as those who are disabled veterans. Brown, a Black woman, was also under the impression that she would…

FridaySep 27, 2024 9:45 am

NY Cannabis Insider Completes Successful NY Conference

The NY Cannabis Insider conference was hosted at the Crowne Plaza, The Desmond Hotel, in Albany, New York, on September 25, 2024. The state’s premier cannabis event saw a great turnout of over 100 enthusiasts, entrepreneurs, marketers, traders, attorneys, and consultants, from throughout the cannabis industry. The entry ticket covered all access to the all-day conference, happy hour and lunch, entry to the vendor fair, and offered wonderful opportunity to connect directly with leaders in the cannabis industry. Select vendors arranged for complimentary consultation sessions for attendees. With evolutions imminent in the cannabis industry, the NY Cannabis Conference provided a…

ThursdaySep 26, 2024 4:20 pm

420 with CNW — Washington State Marijuana Industry Readies for Change as Feds Mull Reclassification

Cannabis industry leaders in Washington State are contemplating the implications of reclassification for researchers and local customers. President Joe Biden disclosed in May that the U.S. Department of Justice (DoJ) was considering a substantial change to the classification of cannabis. The U.S. Drug Enforcement Administration (DEA) currently classifies marijuana as a schedule I substance, classing it with methamphetamine and heroin. This classification suggests that there is little to no medicinal benefit to marijuana. The Biden administration’s proposal suggests moving marijuana to a less severe schedule 3 status, indicating a lower potential for abuse or addiction. Dr. Susan Ferguson, director of…

ThursdaySep 26, 2024 9:45 am

420 Expo: New Jersey’s Largest Consumer Cannabis Convention Ends the Summer Season with 3-Days of Industry ‘Edutainment’; Announces Winners of the First-Ever Legal Statewide Cannabis Cup

The 420 Expo (https://www.420expo.com/) recently concluded its third annual three-day event series with over 14,000 cannabis enthusiasts making their way to the New Jersey Convention and Exposition Center, in Edison, September 13-15, 2024. Presented by Wakit Grinders (https://wakitgrinders.com), the B.Y.O.C. (bring your own cannabis) public event featured access to a large variety of cannabis-friendly vendors and dispensaries, cultivators, CBD businesses, accessories, and beverages, clothing and apparel, jewelry, art, food trucks, celebrity guests, glass blowers and lots of other brands and products. Guests had the opportunity to attend a variety of seminars and engage with canna-focused nonprofits and advocacy groups, as…

WednesdaySep 25, 2024 4:20 pm

420 with CNW — Study Shows Users of Medical Cannabis Report Short-Term Benefits in Quality of Life

A recent study involving hundreds of individuals using medical cannabis has shown significant and rapid improvements in overall health during the first three months of use, according to research from the Philadelphia College of Osteopathic Medicine (PCOM). The findings, published in the “Cannabis Research Journal,” followed almost 400 adults in Pennsylvania who were new to medical marijuana treatments. The participants, who were 46 years of age on average, used medical cannabis to address more than 20 health conditions recognized under Pennsylvania’s qualifying medical cannabis program. The most common conditions treated were severe chronic pain and anxiety disorders. The research revealed…

WednesdaySep 25, 2024 10:00 am

Cannabis Sales in New York Could Exceed $1B This Year Despite Rocky Market Launch

Marijuana retailers in the state of New York raked in more than $429 million in revenue between January and August of this year. Just last month, sales made each week exceeded $20 million for the first time ever. New York made marijuana legal in March 31, 2021, following the approval of the Marijuana Regulation and Taxation Act. However, the state’s first sales were recorded in December 2022. The Office of Cannabis Management’s deputy director of policy, John Kagia, stated that while some momentum had been lost in 2023, the office had known that with enough effort and time, the market…

TuesdaySep 24, 2024 4:20 pm

420 with CNW — Michigan Cannabis Sales Boom as Recreational Sales Begin in Ohio

Last month, Ohio kicked off its recreational cannabis sales, raising questions about how this would impact Michigan’s already thriving industry, which attracts many Ohio customers. Michigan had become a popular destination for Ohio residents seeking cannabis, with many dispensaries conveniently located near the state border in cities such as Morenci and Monroe. Ohio’s dispensaries sold close to $55 million worth of product in the first month of the state’s legal cannabis sales, which got underway in August. Despite this, the Michigan Marijuana Regulatory Agency has released new data indicating that the state’s dispensaries have not suffered. In actuality, sales kept…

MondaySep 23, 2024 4:20 pm

420 with CNW — Nebraska Certifies Ballot Measures to Legalize Medical Cannabis

Efforts to legalize medical cannabis in Nebraska have officially been approved for the November election, despite a lawsuit and a statewide review of the validity of collected signatures. Bob Evnen, the secretary of state, announced on Sept. 14, 2024, that the group Nebraskans for Medical Marijuana had gathered an estimated 90,000 legitimate signatures. The announcement was made precisely one year from receiving the signature initiative’s third effort in 2023, which coincided with the finalization of the November 5 ballot. Evnen mentioned that the procedure for gathering signatures had sparked questions, which the office of Attorney General Mike Hilgers was looking…

MondaySep 23, 2024 10:00 am

Bipartisan Cannabis Legalization Bill Filed in Pennsylvania

Last week, Democratic Representative Emily Kinkade and GOP Representative Aaron Kaufer filed a measure that would legalize the use of recreational cannabis by adults in the state of Pennsylvania. The measure, dubbed HB 2500, was cosponsored by 15 additional legislators in the House of Representatives. The measure also places the state’s agriculture department in charge of the production and sale of medical cannabis and adult-use marijuana. The state legalized medical cannabis in 2016. If approved, the legislation would permit the regulated sales of recreational cannabis to individuals 21 years of age and older, and adults would be allowed to purchase…