FL Supreme Court
On Thursday, the Florida Supreme Court rejected a ballot measure that proposed regulating marijuana like alcohol; the second time in two months, the conservative court rejected pot-related ballot measures. Details: In a 5-2 decision, justices said the proposal pushed by the political committee Sensible Florida included misleading ballot language and should not be placed on the 2022 ballot. The proposal was one of two ballot measures proposed ahead of the 2022 election cycle, both of which the Florida Supreme Court has struck down over what justices said was misleading language. By the same 5-2 margin in April, justices ruled a proposal to legalize recreational marijuana included “affirmatively misleading” ballot language. The court said that the proposal, authored by the group Make It Legal, was misleading because the proposed ballot language did not acknowledge that marijuana would remain illegal under Florida law.
CT Legalized
After Gov. Ted Lamont threatens to veto the legalization bill, a new bill that removed the stipulations he found unattractive was passed and will be signed into law by Lamont. The bill will allow the cultivation, sale, and possession of cannabis by individuals 21+ in the state. Possession will be fully legal as of July 1st, and retail sales will be targeted to begin May of next year. “I look forward to signing the bill and moving beyond this terrible period of incarceration and injustice,” Gov. Ned Lamont said in a written statement shortly after the vote. CT becomes the 19th state plus DC to legalize recreational use. The 300-page bill contains several provisions which set limits on THC content and provisions which will provide funding to programs to address addiction and mental health. Gov. Lamont was getting tripped up over the social equity section, which originally provided individuals arrested on marijuana-related charges preference to others to receive licensing. This provision was removed from the bill, which will get signed into law.
The following companies have footprints in the state of Connecticut and will have revenue drivers when recreational sales commence next year:
TILT to Manufacture Old Pal
TLLTF is a US MSO long.
Tilt Holdings entered into an agreement to be the exclusive manufacturer and distributor of select products by Old Pal, an LA-based lifestyle cannabis company. Old Pal is one of the most recognizable and top-selling brands in the cannabis lifestyle space, focused on providing value to consumers through quality product consistency. One of TILT's subsidiaries, Commonwealth Alternative Care (CAC), will bring Old Pal's products into their distribution platform in Massachusetts. The products manufactured will include a THC-infused brownie, a ready-to-roll kit, and 510 oil cartridges for vapes. Old Pal Co-Founder and CEO Rusty Wilenkin said, "Our mission is unwavering when it comes to bringing high-quality cannabis to consumers at accessible prices. As we scale our business, our team has worked hard to identify like-minded partners with established manufacturing, packaging, and distribution platforms -- and TILT was a clear-cut choice for us.”
Trulieve Expungement Clinics
TCNNF is a US MSO long.
Trulieve announced that it would be sponsoring expungement clinics in Pittsburgh, PA, to celebrate the Juneteenth holiday. Minorities will host the clinics for Medical Marijuana, a long-standing partner of Trulieve. "It's important to recognize, especially on the Juneteenth holiday, the history of disenfranchisement and racism associated with cannabis prohibition and enforcement, and as a leader, in the legal cannabis industry, we have a responsibility to take steps to address that past," said Kim Rivers, CEO of Trulieve. "Trulieve takes pride in our efforts to acknowledge and ensure the equity of all Trulieve patients, customers, and employees, and provide support to our communities however possible." In addition to this, a portion of revenues from Trulieve stores on June 19th will be donated to the Last Prisoner Project, an organization fighting against criminal convictions which are no longer illegal.
