In California: a short-term solution to an administrative backlog crisis. The state senate passes a bill to extend temporary cannabis licenses to marjuana growers who have been waiting on their annual permits from the state. With nearly 7,000 licenses set to expire by July, the bill is expected to pass the assembly, seemingly just in time.
In Colorado, autism is added to the list of conditions eligible for medical marijuana treatment. Governor Jared Polis signed off on the bipartisan bill, which may bolster MMJ sales in a market that has declined after the legalization of adult-use cannabis.
In Texas, a house committee approved a marijuana decriminalization bill that would make possession punishable by a fine instead of jail time. With bipartisan support, its chances of passing look favorable.
On the East coast, could New Hampshire be the next state to legalize recreational cannabis? The state house passed the legislation to do so, sending it to the senate for approval.
Let’s take a look at the financial sector:
L.A.-based multistate cannabis firm Vertical Companies closed a fifty eight million dollar funding round. Originally targeting twenty million, the funding was boosted by investor demand, with which the company intends to expand its footprint and bring its brands to market.
In Canada, wholesalers and patients report a shortage of CBD products for both the medical and recreational markets, and imports aren’t filling the gap. An underestimation of demand and strict regulations on imports are to blame, but experts predict producers will rectify the shortage before long.
In international news, Canadian companies Aphria and Aurora, as well as Berlin-based Demecan are the first to be selected for cannabis cultivation in Germany, one of the largest MMJ markets in the world. What does that mean for the future of those companies, and the state of the country’s industry? Share your thoughts with us online at Cannabis Broadcast Station.
Directed by: Micah Tatum @arbitrageent
News Anchor: Jacqui Verdura
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