NewsRoom Articles - Page 29 of 593

FridayOct 04, 2024 10:00 am

Kentucky Issues First Medical Cannabis Business License

Last week, the state of Kentucky awarded the first license for its medical marijuana program to KCA Labs. The state legalized medical marijuana in March 2023, following the signing of SB 47 into law by Governor Andy Beshear. SB 47 legalized the use of medical marijuana for individuals suffering from various debilitating diseases, including multiple sclerosis, cancer, epilepsy, post-traumatic stress disorder, chronic nausea and chronic pain. Following the legislation’s passage, the governor signed a follow-up measure in April that reduced the timeline for licensing marijuana businesses, allowing the licenses to be awarded this year. Governor Beshear announced that granting this…

ThursdayOct 03, 2024 4:20 pm

420 with CNW — Kentucky Officials Prepare to Hold Medical Cannabis License Lottery

Kentucky will begin its lottery for medical cannabis business licenses next month, marking a key milestone in launching the state’s medical marijuana program. There has been an overwhelming response to the program, with Kentucky officials receiving close to 5,000 applications for business licenses before the Aug. 31, 2024, deadline. Most of these applications, around 4,096, came from individuals and groups wanting to open dispensaries. However, only 48 of those dispensaries will be granted licenses. Governor Andy Beshear commented on the significant interest, stating, “The results speak for themselves. There is amazing, even overwhelming, interest, particularly from Kentuckians. This demonstrates that…

WednesdayOct 02, 2024 4:20 pm

420 with CNW — IRS to Keep Applying 280E Until Marijuana Reclassification Completed

The U.S. Internal Revenue Service (IRS) intends to continue seeking tax payments from cannabis businesses that have taken deductions in anticipation of possible federal changes, according to an attorney with the agency. Even if marijuana is rescheduled federally, the IRS could theoretically seize assets from marijuana companies that fail to meet their tax obligations. Luke Ortner, IRS senior counsel, spoke about the possible effects of rescheduling marijuana from schedule 1 to 3 under the Controlled Substances Act (CSA) in a recent discussion at the American Institute of Certified Public Accountants (AICPA) marijuana conference in Denver. The change, if enacted, would…

WednesdayOct 02, 2024 10:00 am

Premium Cannabis Brands See Steady Sales Amid Unstable Economy

Amid a shaky economy, the marijuana industry seems to be thriving, with many premium brands raking in huge profits. Brand Marketing VP at Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF), Dana Mason, argues that consumers want the best and individuals who appreciate premium products are willing to pay more. Exclusivity, which is characterized by limited availability and high prices, is the primary element of luxury goods. In a recent interview, representatives from different premium cannabis brands operating in various categories revealed how they were doing in today’s economy. Under the marijuana edibles category, there is Cresco Labs, which produces Mindy’s…

TuesdayOct 01, 2024 4:20 pm

420 with CNW — Delaware, Ohio Temporarily Ban Adult-Use Marijuana Businesses

Delaware, Ohio, has put a temporary pause on recreational cannabis businesses operating within its city limits; the city council voted 5 to 2 to enforce a six-month moratorium. This decision halts recreational marijuana businesses from opening in the city, giving officials time to consider how to best regulate them. The move follows the approval of Ohio’s Issue 2, which legalized recreational marijuana in November 2023. The ban applies strictly to businesses and does not affect residents using cannabis in their homes. Although the council has the authority to lift the moratorium before the six-month deadline, opinions on the matter varied.…

MondaySep 30, 2024 4:20 pm

420 with CNW — AMA Study Finds Working Memory, Other Brain Processes Unaffected by Cannabis Use

A recent federally funded study published in the “Journal of the American Medical Association (JAMA) Network Open” has revealed that cognitive functions such as inhibitory control, reward response and working memory do not change significantly after a year of cannabis use. The study refutes the long-held notion that marijuana use impairs memory and brain function. It involved adults who typically used cannabis for issues such as depression, anxiety, pain or sleep problems. The research team conducted the study on 57 patients who had recently received medical cannabis certification in the Boston area. Brain activity was monitored using functional magnetic resonance…

MondaySep 30, 2024 10:00 am

Federal Agency Looks into Questions Regarding Marijuana Use by Cancer Patients

The National Cancer Institute recently published scientific articles on cancer and cannabis to help individuals better understand questions they may have on how patients perceive marijuana. The articles, which were published in a special issue of the “JNCI Monographs,” discuss the results from federal surveys on patients from cancer centers in different parts of the country. This includes areas where marijuana is still outlawed, allowed for medical use only or is legal. In the introduction, the National Cancer Institute explained that the project’s objective was to address major gaps in knowledge in our understanding of marijuana and cancer. This would,…

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…