Last-minute California cannabis industry Hail Mary to delay July 1 transition
A group of California cannabis companies and trade associations have sent a formal letter to Gov. Jerry Brown and the state Bureau of Cannabis Control BCC in a last-ditch attempt to push back the upcoming July 1 deadline for new required lab testing and packaging rules.
The letter warns of dire consequences for licensed marijuana businesses if the regulatory changeover isnt delayed.
Right now, were looking at an estimated loss of about $350-$500 million in an industry that has already been regulated to the brink of destruction, said Jerred Kiloh, owner of The Higher Path....
This weekend is perfect for trying Californias recreational marijuana for the first time
Whether youre a seasoned cannabis consumer or have never tried purchasing pot legally, this is likely the best weekend to take advantage of Californias recreational marijuana market.
Dispensaries throughout the state are drastically reducing prices on products that will no longer be compliant with new industry regulations set to take effect on Sunday, July 1, reports CNBC.
Retailers are offering markdowns over 50 percent off of current stock, as all inventory that doesnt meet quality standards must be either destroyed or sold before the new safety laws and regulations tak....
Vermont: Law Legalizing Adult Marijuana Use Takes Effect Sunday, July 1
Adults in Vermont will be able to possess and grow personal use quantities of cannabis legally under state law, beginning this Sunday, July 1.
Vermont joins Alaska, California, Colorado, the District of Columbia, Maine, Massachusetts, Nevada, Oregon, and Washington in legalizing the adult possession and use of marijuana. It is the first state to enact legalization via an act of the legislature rather than by the passage of a voter initiative.
The majority of Vermonters, like the majority of the American public, desire to live in a community where responsible adults who ch....
July 1 could be extinction event for some California cannabis businesses
Starting July 1, licensed operators in Californias marijuana market must be in compliance with the states readopted and updated emergency regulations.
Retailers will no longer be able to sell product that hasnt passed testing lab standards mandated by regulators.
They were given six months to exhaust their supplies of cannabis products made before the new requirements, and the deadline is now looming.
July 1 might even prove an extinction event for businesses struggling to comply, observed Pamela Epstein, founder of Los Angeles-based Green Wise Consulting.
California cannabis market transition period about to end; price spikes, shortages may occur
The end of the beginning is coming. The formal end of the six-month transition period for Californias newly regulated marijuana market, that is and it could be a bumpy ride for some MJ business owners.
Come July 1, retailers will no longer be able to sell product that hasnt passed testing lab standards mandated by regulators, which will be a serious shift for many companies and could be a major disruptor for retailers, growers and other businesses, such as edibles manufacturers.
Some retailers in particular could face supply shortages if:
They didnt line up reliable....
California Senate Approves Bill to Establish Marijuana Banks and Credit Unions
Legislation that would allow for the creation of a special class of state-chartered banks and credit unions that could service Californias legal marijuana industry has been passed by the full Senate.
The status quo for our growing legal cannabis industry is unsustainable, says SenatorRobert Hertzberg D, who filed Senate Bill 930. Its not only impractical from an accounting perspective, but it also presents a tremendous public safety problem. This bill takes a limited approach to provide all parties with a safe and reliable way to move forward on this urgent issue.
The measure was approved by the full Senate yesterday in a 29 to 6 vote. The vote sends the bill to the House of Representatives, where passage would send it to the desk of Governor Jerry Brown.
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