New Jersey will allow adult-use marijuana sales beginning on April 21
NJCRC, the state's Cannabis Regulatory Commission, said last Thursday that licenses would be issued to seven companies that operate medical marijuana dispensaries. Those companies have 13 locations across the state. Publicly traded companies that will receive licenses and operate in the NJ are ACRDF, CURLF, VRNOF, AAWH, TRSSF, GTBIF, and AYRWF will likely be granted their adult-use license next month.
watch what I do, not what I say
Senator Schumer has promised cannabis reform since April 2018. Now four years later, he has control of the senate and has not done the heavy lifting to get a bill into law. To make matters worse, he blocked the first real chance of incremental cannabis reform late in 2021 during the SAFE/NDAA process. Now he needs more time? If Senator Schumer does not allow SAFE to pass in the China Bill, there will likely not be any cannabis reform under the current administration.
Senators Chuck Schumer, Ron Wyden, and Cory Booker provided an “update” on Thursday regarding their Cannabis Administration and Opportunity Act draft, which was expected to be formally introduced this month. Broad national Cannabis reform is desperately needed, but lawmakers are not in a place to be able to execute a bill. The CAOA is a comprehensive federal legalization bill, which they said “is being drafted with the assistance of nearly a dozen Senate Committees and input from numerous federal agencies,” but it still remains a work-in-progress after four years of talking about reform.
The Senators stressed their intent to introduce the legislation "by" the August recess to "continue building momentum for cannabis reform." (LOL) What @SenSchumer is doing by releasing his bill (with no chance of passing) just months before the midterms looks more like a political stunt than anything else? As of now, August recess is scheduled for Aug 8-Sept 5.
However, the delay gives rise to potential added momentum for SAFE Banking, but @SenSchumer is in control. Does the Democratic base feel there is an unfulfilled campaign promise on cannabis reform that will cause him to have a change of heart? We know the Republicans don't care about reform. The press release updated “key” policies that are “currently being resolved in advance of introduction.” They are:
- They are removing unnecessary federal employee pre-employment and random drug testing for cannabis while preserving appropriate drug testing in transportation-related fields, other sensitive areas of employment, and investigations of accidents and unsafe practices.
- We specify the membership and duties of the Cannabis Products Advisory Committee, an entity created in the legislation that the FDA would convene and consult before promulgating regulations.
- Clarifying market competition rules is meant to protect independent retailers and prevent anti-competitive behavior. These rules do not unintentionally undermine state programs that provide access to capital for social equity businesses.
- A broad review of agricultural and environmental laws applicable to cannabis and working to ensure that appropriate environmental protections apply to cannabis production.
- Ensuring worker protections for those employed in the cannabis industry.
- Ensuring regulatory bodies and law enforcement have the resources and tools they need to protect the integrity of the legal cannabis marketplace.
- Strengthening cannabis business protections and opportunities under Small Business Administration programs.
- Clarifying the relationship between state governments and Indian tribal governments with respect to cannabis.
- Broad review of existing law to cannabis throughout the government, and developing a variety of additional policies to ensure consistent and appropriate treatment of cannabis.”
MariMed gets approval
MariMed (MRMD) said the Maryland Medical Cannabis Commission approved the transfer of 100% of the ownership of cannabis company Kind Therapeutics U.S.A. to MariMed. In January, MariMed said it was acquiring Kind for $20M, which is to be paid via a combination of cash and promissory notes. The company said the parties will now move forward to complete the closing of the transactions. Kind operates under its cannabis cultivation and production licenses in its Hagerstown, Maryland manufacturing plant. The company said Kind’s cannabis products, including MariMed brands, are distributed to 100 medical dispensaries in the Maryland medical cannabis program.
