California

Fri
22
Mar

A California-based company has released chewing cannabis

A new cannabis company, Cannadips, is selling a line of chewable cannabis pouches modeled after old fashioned chewing tobacco, or snus. Composed of monk fruit, essential oils, and a dry cannabis tincture enclosed in a small coconut fiber pouch, the cannabinoids absorb through the mouth’s lining and directly into the bloodstream, bypassing the liver altogether, allowing for a faster high that also doesn’t last as long.

Wed
20
Mar

MJIC closes $15 million raise ahead of plan to go public

California-based  MJIC, Inc. successfully closed a private round of financing resulting in gross proceeds of U.S. $15 million. The company said it is planning on becoming a publicly traded company in 2019 and recently entered into a financial advisory agreement with Haywood Securities.

“This financing will significantly accelerate our growth strategy as we continue to build MJIC’s integrated distribution and retail platform across the entirety of the cannabis ecosystem,” said Sturges Karban, Chief Executive Officer and Board Member of MJIC.

Wed
20
Mar

California is growing so much marijuana it could crash the market

California has too many marijuana farms — growing too much product — and if nothing is done it will devastate the industry, according to a 2019 cannabis harvest projection.

Vessel Logistics, a San Francisco-based cannabis distribution company, found that more than 1,142 acres of cannabis farms hold state permits. They can produce up to 9 million pounds of crop every year, but the permitted wholesale market can realistically support 1.8 million to 2.2 million pounds.

“Thus, even when a 50 percent cut in production is accounted for, a significant oversupply is unavoidable in 2019,” the report concluded.

Mon
18
Mar

California is awash in cannabis cash. Some is being used to bribe public officials

Sheriff Jon Lopey was startled when the mysterious stranger offered him $1 million if he would keep deputies away from certain illegal cannabis farms in Siskiyou County.

Lopey called in the FBI, and, later, deliveries of envelopes stuffed with thousands of dollars in cash were recorded by cameras and microphones hidden on the sheriff's cluttered, wooden desk. Two people were later indicted by a federal grand jury for attempting to bribe the elected sheriff.

"I was surprised and offended that a citizen would believe a law enforcement administrator would compromise his ethics and morals by accepting money,” said Lopey, whose rural county abuts the Oregon border and strictly outlaws outdoor pot farms.

Fri
15
Mar

Marijuana is a lot more than just THC - a pharmacologist looks at the untapped healing compounds

Medical marijuana is legal in 33 states as of November 2018. Yet the federal government still insists marijuana has no legal use and is easy to abuse. In the meantime, medical marijuana dispensaries have an increasing array of products available for pain, anxiety, sex and more.

The glass counters and their jars of products in the dispensary resemble an 18th century pharmacy. Many strains for sale have evocative and magical names like Blue Dream, Bubba Kush and Chocolope. But what does it all mean? Are there really differences in the medical qualities of the various strains? Or, are the different strains with the fanciful names all just advertising gimmicks?

Thu
14
Mar

In battle of hoop houses, cannabis wins

To the extent the battle over hoop houses is, in reality, a showdown between wine growers and a new wave of outdoor cannabis growers just now discovering the sublime virtues of the Santa Ynez Valley, Sara Rotman should be regarded as a warrior queen for Santa Barbara’s newest yet oldest industry ​— ​marijuana. In previous incarnations, Rotman had successfully invented herself as an icon of iconhood, a one-woman hi-glam fashionista branding machine. Over the years, she became world famous as the ass-kicking, globe-trotting, but brutally down-to-earth triple-A-plus personality marketing executive. Her company ​— ​My Own Damn Company (MODCo) ​— ​had offices in New York, Los Angeles, and Buenos Aires.

Wed
13
Mar

Acreage Holdings fourth quarter revenue increases 380% as company enters California

Acreage Holdings, Inc. (CSE: ACRG.U) (OTCQX: ACRGF) delivered fourth-quarter revenue of $10.5 million for an increase of 380% over the previous year’s $2.1 million. Acreage reported a whopping fourth-quarter net loss of $217.6 million. The pro forma revenue* for the fourth quarter was $22.9 million and the pro forma adjusted net loss*, which excludes certain non-cash charges and non-recurring items, for the fourth quarter was $10.8 million.

Tue
12
Mar

Los Angeles Cannabis Regulations Commission announces recommendations for Phase 3 processing

The Cannabis Regulations Commission met on March 5th and presented their recommendations to the City Attorney that would establish policies for processing phase 3 applications. Phase 3 would begin with a 60-day pre-vetting process of social equity applicants to verify Tier 1 or Tier 2 qualification. Verified Tier 1 or 2 applicants will then be eligible to move forward into the first phase of the licensing process. The DCR will issue 100 licenses in this initial phase allocating 75 to qualified Tier 1 applicants. Qualified Tier 1 applicants would receive priority receiving 75% of the available licenses during this initial phase so long as all basic application requirements are met including:

Wed
06
Mar

Report: Legal marijuana industry employs over 200,000 full-time workers

The state-licensed cannabis industry gained over 64,000 new employees in 2018, and now employs over 200,000 full-time workers, according to data compiled by Whitney Economics and the online content provider Leafly.com.

Commenting on the new findings, NORML Executive Director Erik Altieri said, “The federal government needs to deschedule marijuana to allow states to better and more fully benefit from the economic growth engine that is the legal marijuana industry. Further, state regulators need to ensure as this sector expands its economic benefits are shared by all, including and most especially by those who suffered most under the failed policy of criminal prohibition.”

Mon
04
Mar

Israeli approves compassionate use of MDMA to treat PTSD patients

The popular party drug, MDMA, also known as ecstasy, has officially been approved in Israel as a treatment for Post-traumatic stress disorder.

An Israeli government representative learned about the benefits of using MDMA to treat PTSD from the Multidisciplinary Association for Psychedelic Studies (MAPS), a California-based organization. Following their research, Israel has approved using MDMA to treat 50 patients suffering from PTSD.

“The ministry is taking this seriously and with appropriate caution, an in-depth investigation has been carried out,” Ministry of Health official Bella Ben-Gershon told sources. “There is a considerable population in Israel of people suffering from PTSD that is resistant to other treatment.”

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