INVITE - THE FUTURE OF CANNABIS IS INTERSTATE COMMERCE
CALL DETAILS:
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We will host a call with Adam J. Smith, the Alliance for Sensible Markets president. To talk about how he sees the future of interstate commerce in the Cannabis industry. California's governor is reshaping the industry by beginning to give a lifeline to all the "consuming" states by lowering the cost of goods to allow for the industry's success and jump-start the failing state-led social equity programs.
CBD IN DC
A pair of Republican members of Congress are asking US FDA Commissioner Robert Califf to answer questions on why there is a lack of regulations on CBD, a compound found in cannabis and some food products and supplements. Reps. Morgan Griffith (R-Va) and Brett Guthrie (R-Ky) noted in a recent letter that while CBD, a cannabinoid derived from hemp, became legal on the federal level due to the 2018 Farm Bill, there has been a lack of rulemaking on it from the FDA. The letter was first reported by Marijuana Moment. "The United States currently has a robust but largely unregulated CBD market, which leads to an unsafe marketplace for consumers," the congressmen wrote. "Consumer products that contain CBD — such as dietary supplements, food, and beverages — are currently sold across the country under a patchwork of state laws and regulations that have been developed and promulgated in light of FDA's inaction," he added. Griffith and Guthrie noted that the lack of regulation has led to instances of children purchasing CBD gummies with unsafe levels of delta-8 THC -- a psychoactive compound in cannabis -- leading to injury. The two men want several questions answered by Califf by Oct. 17. They include: What scientific data and research into CBD has the agency gathered since 2018? What scientific questions has it asked other federal agencies regarding CBD that it needs answers to establish a regulatory framework? What analysis has the FDA conducted comparing the risks of a regulated CBD marketplace with those of an unregulated one?
Planet 13 Expansion Plans
Plante 13 Holdings (PLNHF) earlier today announced the receipt of the necessary approvals to operate its 22,000 square foot Nevada cultivation expansion and the planting of the first harvest from new grow rooms ahead of the previously forecasted timeline of Q4 2022.“We are thrilled to be able to expand our supply of premium quality flower for our popular Medizin, TRENDI, and Leaf & Vine flower lines. The expanded cultivation will also support our TRENDI vape and concentrates and HaHa edibles which are among the top-selling brands in their respective categories in Nevada,” said Larry Scheffler, Co-CEO of Planet 13. “I commend the team for their work getting this project done ahead of schedule enabling us to increase vertical integration,share of shelf at both the SuperStore and in the wholesale market, and ultimately profitability.”
