Updated April 25, 2018
Cannabis laws in California have been growing and evolving at a rapid fire and frenzied pace. In 2017, you may have seen Cheech Marin’s public service announcement regarding the launch of Cannabizfile Online Cannabis Business Portal. Since then, it’s become the wild west throughout the state of California as cities and counties have either chosen to embrace cannabis businesses or to ban marijuana from their towns completely. Here are a few things cannabis entrepreneurs, business owners, clients, patients, and the public should know about location, construction, owner restrictions, local regulations, and security requirements for both existing and future cannabis businesses.
As more and more cannabis consumers are purchasing extracts, processors are continuously striving for better and safer extraction methods. While various extraction methods still exist, the current winner seems to be supercritical CO2 extraction for cannabis products.
Supercritical CO2 extraction involves using controlled temperature and pressure to create phase (or state of matter) changes in CO2 (carbon dioxide) for the purpose of extracting cannabis plant material while maintaining the integrity and amounts of terpenes found in the plant material. At the same time, it protects cannabinoids from decarboxylation during the extraction process. The phase changes (for example, from gas to liquid) in CO2 allow you to separate out plant material of different weights during the extraction process.
Just like any other industry as cannabis companies mature, valuable collaborations become apparent and big businesses enter the space. Mergers and acquisitions (M&A) are already happening in the cannabis industry and more cannabis business mergers and acquisitions are inevitable in the near future. Case in point, in October, 2017, Constellation Brands purchased a 10% stake in Canopy Growth Corporation for $191 million. Constellation Brands owns Corona and other beer brands. Canopy Growth Corp. sells medical marijuana in Canada and is planning to sell it for recreational use as soon as it becomes legal there in the summer of 2018. According to a recent article, “Canada’s cannabis players are looking to mergers to scale up and stave off competition.”
There is strong interest among pharma, agricultural and tobacco businesses to enter the cannabis market. In the U.S., however, federal law is currently keeping the majority of these large businesses on the sidelines. Cannabis businesses in the U.S. have a unique opportunity to prepare for potential mergers and acquisitions that will certainly get underway as soon as federal regulations allow.
With the cannabis industry on the rise, many new initiatives are making marijuana-related subjects increasingly mainstream. Normalization of cannabis’ use, both medical as well as recreational, has been on its proponent’s agenda for decades.
What is different now is that, through legalization in several states, legitimate occupations are emerging to service the fledgling cannabis industry. With employment growing rapidly in the field, it should not be surprising that many cannabis courses are becoming available. Ready to get started with your cannabis education?
As more states have legalized cannabis for recreational or medical purposes, opportunities continue to grow for entrepreneurs who might be considering starting a cannabis business. But, as in all new industries, timing is everything. Here are some of the reasons you should consider getting into the legal cannabis market now.
As cannabis laws continue to change around the world, a plethora of opportunities have opened up for professionals who are considering starting a legal cannabis business. The marijuana industry is appealing to many entrepreneurs as it offers a largely untapped legal market with a well-established customer base. But in order to be one of the successful few to enter this growing market and be granted a cannabis business license (as well as to scale and grow your operations over the long term), there are a number of things you need to consider and plan for from the beginning. To make sure you are well-prepared to apply for a cannabis business license, consider the following questions:
New York Governor Andrew Cuomo announced on Veterans Day that the state had added post-traumatic stress disorder (PTSD) to the current list of medical ailments treatable under New York’s Medical Marijuana Laws. The new bill allows police officers, firefighters, military veterans, and survivors of domestic violence who have PTSD to possess and use cannabis with a doctor’s authorization. In his statement, during Saturday’s Veterans Day Parade, Cuomo said that the “medical community has determined that marijuana can be a helpful treatment” and that New York is committed to doing everything possible “if there are veterans who are suffering.”
California’s commercial cannabis legalization will take effect on January 1, 2018, and the state legislature is hard at work making final revisions and considering complementary cannabis legislation. Here’s a look at what’s on the table:
January, 2018 will mark the fifth anniversary since Colorado legalized recreational cannabis use. In just a few short years, the state has enjoyed substantial benefits from passing this historic legislation. To date, only seven other states, Alaska, Oregon, Massachusetts, Nevada, Washington, Maine, California, as well as Washington D.C. have legalized the use of recreational marijuana. Several states which recently legalized cannabis are still working on implementing their new cannabis programs. Unfortunately Maine’s governor, Paul LePage, recently vetoed a bill that would have regulated and initiated their adult-use cannabis industry, citing continued illegality at a federal level. California will begin recreational cannabis sales in the first month of 2018. Below, we’ll explore six ways cannabis legalization in Colorado has been beneficial.
Canada, likely to be second country in the world to legalize recreational marijuana at a nationwide level, has become the frontrunner for medical marijuana exports. Although Health Canada claims it did not intend to position itself as the leader, it has continued to issue international exporting permits to its medical marijuana companies. Tilray began exporting medical marijuana in the form of liquid capsules to Croatia in June of 2016 with an export permit provided by Health Canada.