New Jersey Gov. to Expand Medical Program if Cannabis Not Legalized By May

4/01/2019

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New Jersey Gov. Phil Murphy is “prepared to hold off a short amount of time” for lawmakers to approve a recreational cannabis law before he expands the state’s medical cannabis program, NJ Spotlight reports.

The Democratic governor indicated “the month of May would be the edge” of that timeline. Murphy included cannabis legalization in his election campaign platform.

“I’m still confident we can go on and get it done legislatively. I’m open-minded and supportive for the legislature to go back at it and find those last few votes we couldn’t get. But it can’t be an unending calendar. We owe too much to the folks; in some cases, it’s a question of life or death.” – Murphy, in the report

Legislative leaders had packaged the medical cannabis and recreational bills together hoping to garner more ‘yes’ votes for legalization. The legalization bill passed two state legislative committees two weeks ago and lawmakers were expected to vote on the measure the following week; however, the bill was tabled by Democratic state Senate President Stephen Sweeney, who said he didn’t have the 21 votes to pass it.

Sweeney said the “optimum goal” for lawmakers is to get both the expansion and legalization bill passed legislatively and that he has no plans to split the two bills.

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New York Village Promises to Sue State if Cannabis Legalized

4/01/2019

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The village board of Islandia, New York unanimously voted to allow the village attorney to sue the state if cannabis is legalized, according to a Newsday report. Mayor Allan Dorman indicated that while he is not against medical cannabis use, he – and the board – strongly oppose recreational use.

“The problem is they want to legalize it for recreation. So for all you old people in the ’60s, this is not your marijuana. It’s very, very, strong. Passing this gives our attorney the authorization and the consent of this board to immediately file a lawsuit against the State of New York. … The day they pass this, the day they pass this, the next day he’s in court.” – Dorman, in the Newsweek report

Under the legalization measure being considered in the state legislature, municipalities with more than 100,000 residents would be allowed to opt out of legal cannabis sales. The Town of North Hempstead has already approved a prohibition on legal cannabis sales. At least two downstate counties are considering moratoriums or outright bans, while other towns on Long Island are also considering prohibiting legal sales.

Legalization was pulled from the Gov. Andrew Cuomo’s Executive Budget last week after Assembly Speaker Carl Heastie told the governor he wanted the legislation to move through the legislative process, rather than via the budget.

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Michigan Judge Gives Two-Week Extension to Unlicensed Dispensaries

4/01/2019

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Unlicensed medical cannabis dispensaries in Michigan have been granted a two-week extension after a judge blocked another attempt by the state to shut them down, the Associated Press reports.

The restraining order signed by Court of Claims Judge Stephen Borello saves about 50 shops throughout the state that had been ordered to close by yesterday. Officials had previously set a Dec. 31 deadline for unlicensed dispensaries but that was also blocked by a judge. Borrello issued a similar injunction last September that saved nearly 100 dispensaries from state closure.

The case was brought against the state three days before the deadline by Detroit-based Green Genie who successfully argued that they were denied a license because the state erroneously recorded their tax payments, according to an MLive report. Five other dispensaries had joined Green Genie with lawsuits against the state. Borrello decided that all of the businesses would likely receive state licenses and would suffer harm by closing, along with the patients they serve. Green Genie serves about 20,000 patients.

In a statement to the Detroit Free Press, the Bureau of Marijuana Regulation said, “until further order of the court, BMR will maintain the status quo and not enforce the March 31 deadline with respect to both temporary operating facilities and caregiver products.”

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Walgreens to Sell CBD in 10 States

3/29/2019

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Walgreens is set to begin selling CBD topical products in about 1,500 stores in 10 states, according to a CNBC report. The news comes on the heels of its competitor CVS announcing last week it would begin selling similar products in its stores throughout eight states.

“This product offering is in line with our efforts to provide a wider range of accessible health and wellbeing products and services to best meet the needs and preferences of our customers.” – Walgreens spokesperson Brian Faith, in an email to CNBC

Walgreens will roll out the products in Colorado, Indiana, Illinois, Kentucky, New Mexico, Oregon, South Carolina, and Vermont. The company did not specify which brands it would carry.

Walgreens tied the decision neither to the announcement by its rival nor last year’s passage of the federal farm bill.

CVS is planning to carry CBD products in Alabama, California, Colorado, Illinois, Indiana, Kentucky, Maryland and Tennessee.

Faith indicated the decision by the company was made following “a thorough review and analysis” of the market and available products; although, he did not offer any exact dates on when the products would be available and whether they would be available via the company’s online store.

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Massachusetts Cannabis Regulators Launch Probe into Potential Licensing Rule Violations

3/29/2019

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Regulators in Massachusetts are investigating whether large licensed cannabis companies are thwarting state rules on the number of licenses that can be controlled by a single firm, the Boston Globe reports. The inquiry comes following the newspaper’s report that two companies – Sea Hunter Therapeutics and Acreage Holdings – have bragged to investors about holding a large number of licenses.

Under the state’s legalization law, firms are only allowed to own or control up to three medical cannabis and three recreational cannabis licenses.

The Globe had requested Cannabis Control Commission records relating to allegations about companies flouting the rules, which were ultimately denied by the commission who cited an ongoing investigation, according to the report. The Globe has, however, received a Department of Public Health memo dated last August that indicated the agency was aware of potential licensing problems with the two companies, including “using loopholes” hide their affiliations and creating shell companies.

The Globe report alleges that the companies accumulated provincial medical licenses through complex networks of different companies – some they owned outright, others they wield power over via high-interest loans and management contracts. Sea Hunter is reportedly affiliated with 12 stores throughout the state, while Acreage is linked to at least four.

Alex Coleman, chief executive of Tilt Holdings, Sea Hunter’s parent company, told the Globe they have “no knowledge of a DPH or CCC review.”

End

Maine Gov. Signs Bill Aligning State & Federal Hemp Definitions

3/29/2019

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Maine Gov. Janet Mills, a Democrat, has signed legislation making it clear that the production and sale of hemp-derived food is legal in the state, the Associated Press reports. The measure is designed to align the state’s definition of hemp with the federal definition outlined in last year’s Farm Bill.

The measure does introduce hemp cultivation licenses and fees. Application fees are capped at $100, license fees at $500, and fees for “monitoring, sampling, and testing” at $100 per acre, according to the bill text.

The bill passed the House 116-1 last week and the Senate 32-1 on Tuesday.

The governor, who signed the bill as emergency legislation, said it preserves “the continued growth of the legal hemp industry” in Maine. Democratic Rep. Craig Hickman, an organic farmer, sponsored the measure after state regulators had ordered retailers to stop selling food products containing CBD in January.

“We heard from farmers, processors, retailers, health care practitioners and people who have found relief in the medicinal qualities of the nutrient dense whole food that is the hemp plant. They needed us to act.” – Hickman, to the Portland Press Herald

The bill opens the door for the sale of CBD-infused animal food but, because the law considers it food and not medicine, retailers and producers cannot make any health claims about the products.

End

SAFE Banking Act Passes Key Congressional Committee

3/28/2019

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The Secure and Fair Enforcement (SAFE) Banking Act was approved by the House Financial Services Committee in a sweeping 45-15 vote this morning.

The bill is the first piece of major cannabis reforms to pass committee at the federal level; it was introduced by Reps. Ed Perlmutter (D-Colorado) and Denny Heck (D-Washington) but has been cosponsored by 152 lawmakers — including 12 Republicans — which is more than one-third of the Democrat-controlled House of Representatives.

If fully approved, the bill would allow banks to work with state-legal cannabis companies, improving safety and easing business woes for the currently cash-only cannabis industry.

“This is a big day for the businesses, employees and communities who have been forced to operate in cash-only for many years.” — Rep. Ed Perlmutter, on Twitter

The banking bill has not yet been scheduled for consideration by the full House, but that vote — and other cannabis-related House legislation — is expected in the coming weeks.

“This is a positive step forward to address an untenable tension between state-legal cannabis marketplaces and federal marijuana prohibition,” said Justin Strekal, political director for the cannabis advocacy group NORML, in a press release. “No industry can operate safely, transparently, or effectively without access to banks or other financial institutions.”

Rep. Maxine Waters (D-Missouri), who chairs the House Financial Services Committee, commented, “I have long fought for criminal justice reform, and deeply understand the need to fully address the historic racial and social inequities related to the criminalization of marijuana. While H.R. 1595 is the only aspect of these efforts that are within the committee’s jurisdiction, as the bill moves forward, it must be a part of holistic approach to considering these reforms.”

Rep. Earl Blumenauer (D-Oregon), founder and co-chair of the Congressional Cannabis Caucus, called it “the most significant step we’ve seen” in addressing outdated federal cannabis policies.

“I applaud the outstanding work of Chairwoman Waters and Representatives Heck and Perlmutter for making this possible,” Blumenauer said. “The SAFE Banking Act solves a major problem for the state legal cannabis industry and its success moving through the committee is a signal of how we can move forward with other critical proposals.”

Ten U.S. states plus Washington D.C. and the Northern Mariana Islands have legalized cannabis for adult-use. Meanwhile, a strong majority of American voters — including 77 percent of Democrats, 62 percent of Independents, and 57 percent of Republicans — support cannabis legalization, according to Gallup.

End

Guam Legalization Bill Sent to Gov.

3/28/2019

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Guam Gov. Lou Leon Guerrero will decide on whether or not cannabis will be legalized in the U.S. territory after senators narrowly approved the legislation on Wednesday night, the Pacific Daily News reports. Guerrero indicated she supports the measure, which passed 8-7, but needs to review the final version of the bill which received multiple floor amendments.

Cannabis use and possession of less than an ounce is already decriminalized on the island and voters approved medical cannabis legalization in 2014; however, due to a lack of testing facilities, the program is not yet operational. Last year, Guam lawmakers legalized home cultivation to give patients some access.

Sen. Clynt Ridgell, a Democrat and the bill’s sponsor, said he researched the pros and cons of legalization and that “data and science … paved a clear route towards the passage” of the legislation.

“The community has been engaged in every step of the process, and the legislative process was followed precisely,” he said during the debate. Vice Speaker Telena Nelson, also a Democrat, had accused lawmakers of rushing the vote and “shoving [legalization] down [constituents’] throats” because they refused to delay the vote until after some community members could hold a town hall meeting on the issue. Nelson ultimately voted ‘no’ on the bill.

Republican Sen. Wil Castro, who opposed the measure, told reporters after its passage that “the next only logical step is to strengthen…the rules and regulations that go with the bill.”

If signed by the governor, Guam would be the second U.S. territory to legalize cannabis for adult use. The Commonwealth of the Northern Marina Islands passed legalization in 2018.

End

Canopy Growth Partners with ‘Pineapple Express’ Makers Seth Rogen and Evan Goldberg

3/28/2019

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Canopy Growth has announced a partnership with Seth Rogen and Evan Goldberg on a cannabis company called Houseplant. Rogen and Goldberg worked on ‘stoner’ comedy films “Superbad” and “Pineapple Express.”

“Houseplant is a passion we’ve brought to life through drive and dedication. Every decision we’ve made for the business reflects the years of education, first-hand experience and respect we have for cannabis.” – Rogen, in a press release

The company plans to offer three strains – Houseplant Sativa, Houseplant Hybrid, and Houseplant Indica – over the coming months. Their first product, Houseplant Sativa, is expected to be available in stores and online in British Columbia, Canada. Both Rogen and Goldberg are from Vancouver.

“We are so proud to be launching in Canada, our home,” Goldberg said in a statement. “After spending five years diligently preparing for the launch of this company, we’re excited to be able to share our passion for cannabis with Canadians in this way.”

Under their agreement with Canopy, Houseplant “will lean on the production and distribution capabilities of Canopy” and its subsidiaries. In the announcement, Canopy said Houseplant products would be available in flower, pre-rolls, and Softgel.

“We could not be more excited to partner with Seth, Evan and the entire Houseplant team,” Canopy President Mark Zekulin said in a statement. “Together we will make Houseplant a cannabis brand synonymous with quality everywhere it is available.”

In the statement, Houseplant said the company also has an “obligation to build an industry that commits to changing everything that’s been wrong about cannabis,” noting the racial injustices caused by prohibition and that the company plans to work “to help those unjustly incarcerated.”

End

Lines of commercial-grade cannabis plants in pots inside of an indoor grow site.

Maryland Firm Sues Cannabis Commission Over Proposed License Expansion

3/28/2019

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Maryland licensed producer Curio Wellness has filed a lawsuit in an effort to prevent the state Medical Cannabis Commission from awarding additional cultivation licenses in an effort to foster more minority participation in the state’s industry, the Baltimore Sun reports. The company argues that the commission is violating its own rules by soliciting applications without first completing a supply and demand survey.

David Nevins, a Curio spokesman, said the company was “compelled to file the action to protect their business and investments and rights and to enforce the promises made by the state of Maryland and the Maryland Medical Cannabis Commission to induce private sector growers to invest and operate in this important public health program.”

The lawsuit alleges that the regulations promised to strictly limit the number of licenses. In addition to Curio, there are 12 other licensed producers in the state.

“Those promises include the state not expanding the number of cultivator licenses without first conducting a demand study to determine if additional supply is necessary to meet the demand for this newly established public health program.” — Nevins, to the Sun

Curio is owned by prominent Democratic donor Michael Bronfein.

Maryland Del. Cheryl Glenn, a Democrat who has advocated for social equity in the state’s cannabis industry, said the commission conducted a “disparity study” which found that none of the state’s 15 licensed producers were minority-owned. After the study was released a spokeswoman for Republican Gov. Larry Hogan told the Sun there was “clear and unequivocal evidence” of disparity in the industry.

Glenn, who chairs the state’s Legislative Black Caucus, called Curio’s position “unfortunate.”

“I would be ashamed to file such a lawsuit,” she said in the report. “It’s saying that you want to maintain the lack of diversity like we have in the rest of the country in this industry.”

The Maryland Wholesale Medical Cannabis Trade Association said the state should continue with the new licensing process.

End

Connecticut Committee Advances Cannabis Legalization

3/27/2019

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The Connecticut Legislature’s General Law Committee voted across party lines, 10-8, in favor of a cannabis legalization bill that would create a regulated adult-use market and provide equity opportunities for citizens who were most negatively affected by the War on Drugs, CT News Junkie reports.

The social equity provisions included in the legislation were hotly debated during the committee meeting; Democratic Sen. Dough McCroy called the nation’s drug policy “probably the last” policy left over from the Jim Crow era. The representative from Hartford indicated he would not support any legalization bill that is anything less than the gold standard for social equity.

The legislation defines social equity as “individuals or communities disproportionately impacted by high rates of arrest and conviction, as well as individuals who can demonstrate, via affidavit and other documentation as the commission may require … requisite experience with cannabis cultivation, distribution or the sale or manufacture of cannabis products.”

Other Democrats on the committee voiced support for the social equity provisions and a regulated market, while most Republicans on the committee stood opposed due to public health concerns.

The committee also advanced legislation to add opioid use disorder to the state’s medical cannabis qualifying conditions list – which the state’s Board of Physicians voted against last year – and eliminate the $25 program registration fee.

Both bills need to be approved by both legislative bodies before being sent to the governor.

End

A close-up shot of a cannabis plant grown under Washington's I-502 market regulations.

Multiple Sclerosis Society of Canada Investing $1.5M for Cannabis Research

3/27/2019

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The Multiple Sclerosis Society of Canada is investing $1.5 million in funding to the nation’s Institutes of Health Research for research into the use of cannabis to manage MS symptoms and its effect on the condition, the organization announced on Sunday.

The investment will span five years and will consider applications for basic science, clinical, health services, and policy research.

“The MS Society is pleased to invest in this first-of-its-kind funding opportunity in Canadian MS research. As an organization, we have a mandate to provide information that is rooted in evidence. Cannabis is still a relatively unknown substance from the perspective of evidence-based research, so investing in research on cannabis use is an important first step for determining its applicability and efficacy towards managing MS.” – Dr. Pamela Valentine, president and CEO of the MS Society of Canada, in a statement

The announcement is part of an Integrated Cannabis Research Strategy involving six agencies, including: the Institute of Cancer Research; Institute of Circulatory and Respiratory Health; Institute of Human Development Child and Youth Health; Institute of Indigenous Peoples’ Health; Institute of Musculoskeletal Health and Arthritis; and the Institute of Neurosciences, Mental Health, and Addiction.

Along with the MS Society, the Arthritis Society, Canadian Cancer Society, and Mental Health Commission of Canada are collaborating with the Institutes of Health Research on the cannabis research project.

The agency is accepting letters of intent for research programs until May 15.

End

Florida Ag Committee Advances Industrial Hemp Bill

3/27/2019

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The Florida Senate’s Agricultural Committee has advanced legislation setting up a framework for farmers and other businesses to cultivate and sell industrial hemp, the Orlando Sentinel reports. Sen. Rob Bradley, a Republican and bill sponsor, said the measure is necessary following changes in federal law last year that legalized industrial hemp.

“The intent here is to get this emerging industry to be viable in the state of Florida and for us to be as cutting edge as possible while also respecting the guide rails … that the federal government has provided in this situation. We’re going to push it. We’re going to keep pushing it.” – Bradley in a Sentinel interview

Under the legislation, oversight of the hemp industry would be relegated to the state Department of Agriculture and Consumer Services. Agriculture Commissioner Nikki Fried includes hemp – and medical cannabis – on her list of priorities.

The bill would require licensed producers and sellers to submit a background check every two years, require a state-certification hemp seed program, and create an industrial hemp advisory board.

Bradley said the proposed regulations “are not meant to be onerous.”

“This is not a reflection of the medical-marijuana system. That is a medicine, a controlled substance, and this is different,” Bradley said in the report. “But it’s also not the same as growing apples or oranges, either, until we evolve this industry and get to a point where perhaps it will be that one day.”

The majority of U.S. states allow some form of hemp production and more are considering comprehensive programs after the federal law changes last year.

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Survey: 40% of U.S. Adults Interested In Trying CBD Products

3/26/2019

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According to a survey from High Yield Insights, about 40 percent of adults 21-and-older are interested in using CBD “under the right conditions.” The majority of those that indicated willingness in trying CBD were 35-and-older (64 percent), female (56 percent), with some college experience (79 percent).

The survey found that about half of current CBD users are under 35 and 54 percent had used CBD for less than one year.

Mike Luce, co-founder of High Yield, said CBD seems “to be benefitting from greater acceptance of cannabis.”

“Seven in 10 current CBD users have also used cannabis containing THC in some form in the past three months. This indicates that for some users, CBD-only products are serving a complementary function.” – Luce, in a statement

The survey found that 30 percent of respondents reported using products with CBD only, while the remaining preferred products with both CBD and THC. Forty-two percent indicated they had tried CBD because they could easily access the products, 34 percent had a physician’s recommendation and 44 percent believed there was available “unbiased research.”

The complete data, which includes responses from more than 2,000 consumers – 1,500 who had used a CBD product in the last three months and 500 who had not – will be published by High Yield in a report titled CBD Consumer Experience: Part One.

End

New Jersey Lawmakers Table Legalization Bill Due to Lacking Senate Support

3/26/2019

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Lawmakers in New Jersey have called off the vote on a measure to legalize cannabis because they did not have enough votes in the Senate to pass the bill, NJ.com reports.

State Senate President Stephen Sweeney, a Democrat, indicated the vote would be held “as soon [as he has] 21 votes for sure. Sweeney had previously said that if the bill failed to make it to the floor they would table it until after next year’s elections.

“We’ll be back at this. Anybody who thinks this is dead is wrong. This is not an issue that’s going away. Marijuana will get passed in the state of New Jersey one way or another.” – Sweeney at a news conference via NJ.com

The vote was expected this week after the legislation passed two legislative committees last week. It was reported that Gov. Phil Murphy had made “dozens of calls” to lawmakers urging them to back the bill. Legalization was included in the Democratic governor’s campaign platform. Sweeney noted on Monday that Democratic lawmakers had been working throughout the week to whip the votes.

According to the report, the measure had the 41 votes required to pass it in the Assembly but had only received support from 17 or 18 of Senate members.

Assembly Speaker Craig Coughlin, a Democrat, said in a statement he was “disappointed” and echoed Sweeney’s statements that the bill would eventually make it to the floor in both chambers.

“We moved closer to the goal than ever before,” Coughlin said in a release. “Today does not mark the end of the process and effort. I remain committed to enacting the legislation.”

The move also delays two other cannabis measures tied to the legalization measure: an expansion of the state’s medical cannabis program and expunging low-level cannabis convictions.

End

Medical Cannabis Bill Introduced In Alabama House

3/26/2019

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A medical cannabis bill has been introduced in the Alabama House of Representatives by state Rep. Mike Ball (R-Huntsville).

HB 243 would extend Carly’s Law, which allowed a study at the University of Alabama Birmingham on using CBD-rich cannabis to treat children with intractable seizure disorders, for another two years, while clarifying a CBD-rich decriminalization bill known as Leni’s Law. The bill has twenty co-sponsors, including state Rep. John Rogers (D-Birmingham) and Republican Speaker of the House Mac McCutcheon.

Additionally, the bill would establish the Alabama Medical Cannabis Commission, which would be tasked with setting up a patient registry, issuing medical cannabis cards, and licensing the production, processing, and distribution of medical cannabis in Alabama. Patients would be required to be over nineteen and be suffering from one of a limited number of debilitating conditions to qualify for medical cannabis under the proposal.

“Carly’s law expires, and we need to extend that. There need to be clarifications on Leni’s Law. This is about helping sick people,” said state Rep. Mike Ball in an interview with AL.com. “The research is paying off. Some of the doctors want to do a medical card procedure. I’m doing one bill that will take care of that. We want to give doctors latitude on this.”

The study commissioned at UAB by Carly’s Law started dispensing cannabidiol oil to patients in 2015 and issued their findings in September 2018. The study which included 132 participants, 72 children, and 60 adults, found that CBD reduced the mean number of seizures from 144 every two weeks to 55 every two weeks — a “highly significant” reduction of two thirds, according to study authors.

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House-Approved Idaho Hemp Bill Moves to Senate

3/26/2019

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A bill to legalize hemp in Idaho unanimously passed the Senate State Affairs Committee on Monday, paving the way for it to be voted on by the full Senate, the Associated Press reports.

Gov. Brad Little indicated that if the measure passed the legislature he would sign it so long as it includes amendments sought by law enforcement officials.

The measure already passed the House. The Republican governor told the AP he was “a little chagrined” it passed the chamber without those amendments. The amendments would include language that would allow police to intercept illegal cannabis – containing more than .03 percent THC – without being stymied by the new hemp law.

Scott Bandy of the Idaho Prosecuting Attorneys Association indicated his group opposed the bill because, he says, it would prevent law enforcement officials from detaining potential criminals or using drug-sniffing dogs to locate illegal crops.

State Sen. Chuck Winder also said he was concerned about legalizing hemp while THC-rich cannabis remained outlawed.

This isn’t about an Ag issue out there, at least to me. This is about how do you provide a balance of allowing for potentially a crop that could be beneficial, without the disadvantage of the THC. So if there’s a balance that can be struck between the sponsors and law enforcement, I think that’s how we ought to go.” – Winder, via the Associated Press

His colleague Sen. Abbey Lee, who presented the bill to the committee, said lawmakers “really needed to do something this session” with regard to hemp legislation due to recent changes legalizing hemp at the federal level.

End

Canadian Government Proposes THC-Based Tax Rate for Edibles

3/25/2019

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Canada’s Liberal government has included a THC-based tax rate for edibles and topical products in its 2019 budget, which are set to be allowed for sale in the state’s recreational market on or before Oct. 17, Investing News reports.

The plan is based on recommendations from the nation’s cannabis task force.

“Budget 2019 proposes that edible cannabis, cannabis extracts (including cannabis oils) and cannabis topicals be subject to excise duties imposed on cannabis licensees at a flat rate applied on the quantity of total tetrahydrocannabinol (THC), the primary psychoactive compound in cannabis, contained in a final product.” – Canadian federal budget

Avtar Dhillon, president and executive chairman of Emerald Health Therapeutics, said the revised taxation structure could lead to reduced taxes on low-THC products and those derived from hemp.

“We expect that this proposed revision to the excise tax calculation will enhance our opportunity to utilize our purchased hemp in an economically viable way as feedstock for new cannabinoid-containing ingestible products.” — Dhillon, in a press release

The changes are expected to take place on May 1. The changes would not have an impact on the current taxes for flower, seeds, and seedlings sold in Canada.

End

Louisiana Officials: CBD Illegal Despite Federal Law Changes

3/25/2019

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The Louisiana Office of Tobacco Control plans to issue citations to state retailers selling CBD products out of their shops, the agency announced on Friday. Juana Marine-Lombard, the commissioner for the office, says that — despite federal approval for products containing .03 percent THC under the Agriculture Act of 2018 — products containing even trace amounts of THC remain illegal under state law.

“…The Louisiana Board of Pharmacy has issued guidance its Guidance Document re Cannabidiol (CBD) Oil that any product extracted from a marijuana plant is classified as a schedule I under the Louisiana Controlled Dangerous Substance Law.” — Lombard, in a March 21 guidance document.

Lombard said the state Drug Policy Board is expected to issue an opinion and officials are awaiting an opinion from state Attorney General Jeff Landry “on the possible conflict between federal and state law.” The Tobacco Office guidance directs enforcement officials to order the removal of CBD products from shops; and while they will “continue to process pending CBD store applications,” they will not issue any permits until receiving guidance from the Drug Policy Board and Landry.

CBD-rich cannabis products were legalized for medical use in Louisiana in 2015. The Louisiana Board of Pharmacy guidance requires all cannabis products must comply with the legislature-approved medical cannabis law.

“Louisiana law does not make a distinction between CBD extracted from hemp and CBD extracted from marijuana,” the Nov. 2018 guidance says. “CBD is a compound of marijuana and therefore is considered marijuana under Louisiana law.”

The state does not have a program permitting hemp cultivation.

End

Cleveland School of Cannabis Triples Revenues

3/25/2019

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Ohio’s Cleveland School of Cannabis more than tripled their revenue last year after operating with a deficit for its first 18 months, according to a Crain’s report. The school reported $1.125 million in revenues last year after logging $360,000 the year prior.

The school has graduated 111 and currently has 115 students enrolled in its programs with about 16 instructors and 10 full-time staff. Sixty-five percent of CSC graduates are currently employed or in paid, industry, internships, according to school tracking figures. The CSC partners with Ohio cannabis firms, including cultivators Buckeye Relief and Cresco Labs; and dispensaries Terrasana and The Botanist. It counts cannabis horticulture, dispensary training, and medical applications – along with an “executive” program combing the three – among its course offerings.

“Many of these students could be employed if they were willing to move, but they are waiting for licensees to open closer to their homes. More licensees are passing inspections every week, and we expect the demand for employees to grow rapidly.” – Cleveland School of Cannabis founder and CEO Austin Briggs, to Crain’s

Briggs said the school is planning to expand into Columbus with classes expected in the summer. Briggs indicated a plan to expand into two more states – possibly New Jersey and Florida – by 2021.

End

Legalization Pulled from New York Executive Budget

3/22/2019

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Cannabis legalization will not be included in the upcoming state budget, but New York Gov. Andrew Cuomo is expecting lawmakers will come together on a deal in the summer, according to a CNN report.

“If we could get it done by the budget, that would be great,” Cuomo said. “But there’s a whole legislative session after the budget and my take is it will be done during the legislative session post budget and therefore I took the revenue out of the budget.”

Cuomo did not attribute the change to counties who have threatened to opt-out of the market, noting that those communities would not get a share of the cannabis-derived state revenues. The Democratic governor – whose party controls both legislative houses – said Assembly Speaker Carl Heastie “was quite clear” he thought it was better to do it outside of the budget.

“When it’s not done in the budget, then it is, in my opinion, harder to do as a standalone bill because it’s now just marijuana with a capital M. I said from day one that the marijuana issue was going to be controversial. There’s no doubt about that.” – Gov. Andrew Cuomo, in the interview

New York is bordered by cannabis legalization in Canada, Massachusetts, and Vermont; while New Jersey lawmakers are set to take up a legalization bill next week.

End

CVS Carrying CBD Topicals in Eight States

3/22/2019

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CVS has started carrying CBD products in eight states, the company announced on Wednesday. The pharmacy chain will not carry CBD-containing supplements or food additives, opting instead for topicals.

According to a CNBC report, the products are available in Alabama, California, Colorado, Illinois, Indiana, Kentucky, Maryland and Tennessee.

“We have partnered with CBD product manufacturers that are complying with applicable laws and that meet CVS’s high standards for quality.” – CVS spokesperson, in a statement to CNBC

During an earnings conference call, Curaleaf CEO Joseph Lusardi said the company has been having “dialogue with national retailers for many months now” and they had reached a deal with CVS to sell its products at more than 800 stores.

CVS has not confirmed the partnership with Curaleaf; but stocks of the company jumped 17 percent on the Toronto Stock Exchange after the announcement. Curaleaf operates 40 dispensaries throughout the U.S.

Under the Farm Bill signed by President Donald Trump in December, hemp-derived CBD is legal but the Food and Drug Administration does not allow it to be added to food or beverages because it’s the active compound in the pharmaceutical Epidiolex.

Curaleaf indicated the products would be available on the CVS website.

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Canadian Cannabis ETF Considers Adding U.S. Firms

3/22/2019

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Horizons ETFs Management Canada Inc., which provides cannabis exchange-traded fund Horizons Life Sciences Index ETF, is hoping to add U.S. firms to its roster of publicly traded Canadian cannabis companies, according to a Bloomberg report.

CEO Steve Hawkins said the company, which holds C$1 billion in assets, is also considering a roster of U.S.-only cannabis companies. The Toronto Stock Exchange currently does not allow HMMJ to hold any companies with U.S. operations because they conflict with federal U.S. laws. The firm did add Colorado-based Charlotte’s Web Holdings Inc. earlier this week because their business is only hemp-derived products, which were legalized via the 2018 farm bill.

According to Bloomberg, the Horizon’s cannabis fund has returned over 60 percent so far this year – the best performing equity ETF in Canada. Hawkins said the U.S. ETF wouldn’t be traded on the TSX. Several cannabis companies with operations in the U.S. are listed on the Canadian Securities Exchange.

HMMJ is considering leveraged and inverse offerings for the U.S. ETF.

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House Committee to Vote on Cannabis Banking Bill Next Week

3/21/2019

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The House Financial Services Committee is set to vote on Tuesday on legislation to protect banks that work with the cannabis industry, according to a Marijuana Moment report.

The bi-partisan SAFE Banking Act, which carries 138 cosponsors, was discussed by the committee last month. The proposal calls on the Federal Financial Institutions Examination Council to issue “uniform guidance and examination procedures for depository institutions that provide financial services to cannabis-related legitimate businesses,” according to the report.

Rep. Maxine Waters, a California Democrat who chairs the Financial Services Committee, is one of the bill’s sponsors. The markup session is expected for 2:00 p.m. EST and will be live streamed. It will be the first Congressional cannabis vote of 2019.

In a statement, Aaron Smith, executive director of the National Cannabis Industry Association, noted the “unprecedented support” in the Democratic-led House.

“The fact that the SAFE Banking Act … is getting the serious consideration of a markup is a huge step in the right direction for the safety and transparency of the legal cannabis industry. We urge every member of Congress to support this legislation and help ease the unfair burdens facing cannabis businesses, their employees, regulators, and law enforcement due to current federal banking restrictions.” – Smith, in a press release

The measure would prevent federal regulators from punishing banks who work with cannabis-related businesses that are working within state laws. It would prevent them from limiting access to the Deposit Insurance Fund and protect ancillary businesses that work with cannabis businesses from being charged with money laundering and other financial crimes.

 

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