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Marijuana Business News

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Tue
30
Aug

Marijuana use is outpacing Cigarette use for the first Time on Record

More people in the U.S. are now smoking marijuana than cigarettes, according to a Gallup poll.

Cigarette use has been trending downward during the past decades, with only 11% of Americans saying they smoke them in a poll conducted July 5 to 26, compared to 45% in the mid-1950s.

Sixteen percent of Americans say they smoke marijuana, with 48% saying they have tried it at some point in their lives. In 1969, only 4% of Americans said they smoked marijuana.

Attitudes around both substances have also shifted dramatically.

Mon
29
Aug

Langley plant propagation facility signs deal with major Cannabis Provider in Canada

langley

Bevo Farms’ parent company was acquired by Aurora Cannabis for more than $45 million.

Bevo Agtech, which owns and operates 63 acres of greenhouses on more than 160 acres of land across the Lower Mainland, has recently sold a controlling interest of their company to Aurora Cannabis.

This Canadian cannabis company has operations in 25 countries around the world and has now grown their presence in Western Canada even further by purchasing 50.1 per cent of Bevo.

Currently, Bevo has limited its propogation of agricultural plants to Langley, Aldergrove, and Pitt Meadows. However, as part of this new deal, Bevo will now gain control of the Aurora Sky facility in Edmonton, Alta.

Mon
29
Aug

Financial entities seek to expand California Cannabis banking efforts

cali flag

Abaca, a financial platform for cannabis operators, and Pacific Valley Bank are partnering as a means of expanding cannabis banking access within the California market.

This marks the first time since California legalized medical marijuana 26 years ago that legal operators in the industry have access to such a combination.

“Many operators across the state have been let down by unsophisticated, unreliable, and unnecessarily burdensome banking solutions,” Abaca CEO Dan Roda said.

“Now, operators have access to the best of both worlds – the human touch of a California community bank with a deep understanding of the unique needs of the market and the powerful technology of a financial platform that enables operators to seamlessly manage their finances online.”

Mon
29
Aug

What happens when you Legalise Cannabis?

legal cannabis

Countries all over the world are debating whether to legalise cannabis; but what really happens when legislators make the recreational drug legal?

Recreational cannabis has been legalised in a number of states in America. A study published in the scientific journal Addiction has evaluated the impact that this law has had on cannabis use in these states. Recreational cannabis use increased by 20%

Researchers found that when you legalise cannabis, more individuals begin using the drug recreationally. For example, recreational cannabis use in the U.S. states where cannabis has been made legal has increased by 20%.

Mon
29
Aug

How minor Cannabinoids and Marijuana are Impacting the Wellness World

hand cannabis

For use only by adults 21 years of age and older; 18+ for medical states. Keep out of reach of children.

Do not operate a vehicle or machinery while under the influence of this drug. Laws governing the legality, availability and use of marijuana vary by state.

These days, everyone seems to be talking about cannabis. While the plant has been around for thousands of years, we’re constantly learning more about it beyond its euphoric reputation. As more research becomes available and our understanding of wellness evolves, not only has the conversation surrounding cannabis changed, but consumers are thinking about it differently too. 

Mon
29
Aug

Will Biden Legalise Marijuana? Democrats remain split on the Issue of Weed

Calls to enact meaningful reform to cannabis laws are growing in the US, but is there enough support in Congress to pass the proposals?

In his year and a half in the White House, President Biden has largely remained quiet on the subject of marijuana legalisation. This is despite many Democrat-held state legislatures pushing for the legalisation of cannabis during the current session and widespread support for loosening the law.

The two most senior Democrats in Congress, House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer, have stated that they want marijuana reform to be passed as a priority, but the issue continues to divide the party.

Fri
26
Aug

Cannabis licenses top 1,000 in New Mexico

CANNABIS BUSINESS

The state has hit a milestone in the approval and issuing of cannabis licenses, surpassing 1,000 since the Cannabis Control Division began issuing them last fall.

To date, 1,027 total licenses have been approved and issued.

Those numbers were shared by the division on Tuesday in a presentation to lawmakers on the Legislature’s interim Courts, Corrections and Justice Committee.

The update comes nearly half a year into the sale of adult-use cannabis, which has so far generated nearly $88 million in recreational sales for cannabis businesses. And it comes at a time when lawmakers and industry leaders are raising questions about equity in the cannabis industry.

Fri
26
Aug

State begins taking applications for retail Cannabis Dispensary Licenses

PIPE

NEW YORK—The state Office of Cannabis Management is taking applications for people interested in applying for a retail marijuana dispensary license, the board said Thursday at a virtual news conference. 

The launch of the application portal for CAURD, Conditional Adult-Use Retail Dispensary Licenses, the first adult-use retail cannabis dispensaries to open, is part of the state’s effort to give business opportunities to those affected most by the state’s once-strict marijuana laws.

Fri
26
Aug

NY to take social equity Marijuana Applications

ny

The Hochul administration has begun accepting applications from “justice-involved” individuals for retail cannabis dispensary licenses as officials prepare to provide some of those awarded licenses with “state of the art” storefronts constructed and furnished by the state Dormitory Authority.

In response to questions from CNHI, Chris Alexander, executive director of the state Office of Cannabis Management and a Hochul appointee, acknowledged that his agency has no plans to conduct credit checks on so-called social equity applicants seeking to enter what he said is poised to become the world’s biggest marijuana market.

‘THE BEST OPERATORS’

Fri
26
Aug

Cannabis drinks market value set to grow by US$8.3 billion in 2032

green beer

The global cannabis drinks market is set to grow by a value of $8.3 billion in 2032, with a compound annual growth rate (CAGR) of 37.3%, according to Future Market Insights.

Cannabis is becoming more commonly used in various markets across the world to treat a variety of illnesses, including neurological disorders, epilepsy, cancer, and pain management. Cannabis consumption has also been fully legalised for recreational use in 19 US states, and the drug is gaining traction within health-conscious communities.

Demand for cannabis drinks is predicted to rise as a result of legalisation of recreational or medicinal cannabis.

The cannabis drinks market is worth of US$ 0.4 billion sales in 2022 and expand at CAGR of 3% between 2022 and 2032.

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