Cannabis news guides: Illinois gov. introduces a proposal on recreational use, North Dakota declines, AGB Governor Conference on a banking bill, and much more

If everyone falls into effect, Illinois enters into June as the 11th State-used leisure U.S. This is the vision of the new democratic governor, JB Pritzker, who, along with two other Chicago lead Senators (Sen. Heather Steans and Kelly Cassidy, both Democratic), debated a debate on RMJ until the end of the Illinois session. slated for May 31.

To date only a handful of House members have been opposed to the bill. Drawing from the best ideas related to many bills across the United States, the Steans-Cassidy measure will allow legal possession of 30 grams of flower and 5 grams density (or 500 mg of inflected products by THC).

The tax bill proposes 10 per cent for products under 35 percent of THC, with 25 percent tax on products more than 36 percent. Gross tax growers will pay receipts of 7 per cent.

[How cannabis advocates are turning bad science into the next anti-vaccination movement]

Looking at $ 170 million in license fees in the first year, tax receipts are reserved for substance misuse and mental health programs, law enforcement, and the general state fund.

Current MMJ licensees will have first priority on applications, and local cities can reject the entire program.

It is interesting to note that the proposal would prohibit large-scale commercial growers and focus on small “craft” growers. The move was designed to create thousands of new entrepreneurs in the state, with an emphasis on minorities and communities most affected by a ban and the so-called Drugs War.

This proposal would create a new position for a cannabis regulatory supervisory officer who will be responsible for the ongoing development of rules, as well as coordinating the efforts of agricultural, income, financial, and professional departments, state police, public health, commerce and economic opportunity. , and human services as they relate to legal marijuana.

Recreational sales could begin on January 1, 2020.

Read more about this story.

AGS Conference on banking legislation

The Attorney General wrote from 33 states to the Conference to encourage the legislation on cannabis banking, the SAFE Banking Act, pending U.

The letter argued that over $ 8 billion in legal money, annually driven by operators, inviting the crime, and cutting back on adequate supervision against potential money laundering.

As well as California, general states were at Alastair, Arizona, Arkansas, Connecticut, Delaware, Hawaii, Illinois, Iowa, Kentucky, Maine, Maryland, Massachusetts, Minnesota, Mississippi, Nevada, New Jersey, New Mexico, New York, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, Utah, Vermont, Virginia, Washington, West Virginia, and Wisconsin.

North Dakota 25 states U. to disinfect cannabis

North Dakota Gov. Doug Burgum signed a bill in law making his 25th state in the nation to eliminate jail time threatening to hold small amounts of marijuana.

HB 1050 resumes possession of up to half an ounce of marijuana by adults 21 and older as a punishable violation without imprisonment and a maximum fine of $ 1,000. Previously, it was a punishable misconduct up to 30 days in prison.

[Texas decriminalization bill gets gutted, but penalties for possession remain lowered]

The bill gives guidance to the Legislative Assembly “to consider the study of the implications of the possible use of adult North Dakota.” T

A ballot issue for the RMJ passage in a vote failed in November 2016. North Dakota also extended its MMJ program this month and approved the processing of CBD from adult hemp.

GW Pharmaceuticals reports sales of $ 39.4 million

GW Pharmaceuticals has reported sales of $ 39.2 million in the first quarter – an increase of six times on its previous quarter which reported sales of $ 6 million.

The Epidiolex GW drug helped the company reduce its operating losses for the quarter to $ 59 million, down from the $ 72 million in advance, which suffered at the end of 2018.

The analysts were bullish that GW would not suffer with the volatility given to many pharmaceutical companies. "This is a marijuana company that does not pharmacy around it. So these shares don't have the same catalysts" as a medicine, they wrote Investor Place analysts.

Acreage investors advertise Holdings plans to vote against a canopy deal

San Francisco's investment manager, Marcato Capital Management LP, provided an open letter to the Monday Canopy Growth Board in line with a possible legal pending merger. In the letter, Marcato called on the transaction “a valuable transaction not in the interests of shareholders,” and states that his company intends to vote against the deal.

The firm owns 575,000 shares of Acreage, or just under 2.7 per cent of the outstanding voting sub-shares. According to the statement, the price tag of $ 3.4 billion is much lower than Marcato believes that Acreage could only be ordered based on current value to future cash flows.

Brandon Dorfman at PotNetwork is more on this story.

HerbForce releases a report on cannabis jobs

Cannabis industry recruiters, HerbForce, have compiled a report on salaries and benefits packages in the industry. The report examines how the cannabis industry is approaching talent acquisition and retention strategies with benefit and compensation packages.

[Transitioning the cannabis business into a cashless one: A conversation with CannaTrac CEO Tom Gavin IV]

Some main food bring from the report:

  • Cannabis offered the highest average percentage increase in 2018 at 14% very high – more than the national average increase.

  • More time for a holiday than any other CPG sector (almost twice as much as the wine industry and spirits offer)

  • Across all departments, VP compensation shows low of $ 175,000 a year and a high of $ 250,000.

  • The main marketing officers are paid from $ 250,000 to $ 300,000 per year.

  • Plant / retail operations managers show compensation of $ 75,000 to $ 120,000.

Read all about the Cannabis Talent Marketing Report here.

Download a copy of the report here.

HiGrade analyzes uncanny AI weeds

The team at HiGrade has developed an AI application which is being called “Shazam of weed” because of its incredible power to tell marijuana just to a picture. Read the full story here.

Legalization of the New Zealand Referendum on the recreational use of convenience

New Zealand is in line with the list of nations moving towards the end of the prohibition on marketers. On May 7, Justice Minister Andrew Little announced details of marijuana plans in New Zealand to be made lawful and regulated. The minority government's coalition agreed with the basic elements of a referendum that would allow 20-year-old adults from New Zealand to use, hold, sell, and nurture cannabis.

The referendum will be on the 2020 New Zealand ballot.

Meg Ellis at PotNetwork is more on this story.

Start of the week

Having raised more than $ 400 million to grow their vape class, leading products, PAX CEO Bharat Vasan spent some shadows on CBD.

“The space feels it's too prepared now because it's the only federal form,” said Vasan, speaking at a San Francisco seminar last week. Vasan began working with Pax Labs almost a year ago after Juul (Pax Labs e-cigarette branch) had been spun from the parent company. Vasan said, "I think that one of the open questions with hemp-based CBD is due to the promise? For those who say that this may be restored, it is difficult to restore the gene in the bottle." at this point. "

Link of the Week

I hope that IRS-280E relief will still exist? Well, then take valuable hours and enter the new webinar from West Bridge expert Jim Marty. "How Profits After Improving Tax for Cannabis Business," it is sponsored by law firm DC Offit Kurman and the host attorney Jason Klein. Register for the free webinar, which will take place on 21 May at Noon Eastern by visiting https://register.gotowebinar.com/register/7204430492248034315

Leave a comment

Send a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.