EDITOR’S NOTE: On May 20, NJ Cannabis Insider in collaboration with Advance Media New York hosts a virtual business networking event, featuring some of New York state’s most prominent industry leaders. Tickets are limited.
Social equity — a factor that has become a centerpiece for conversations surrounding access to the cannabis space, will remain a complex challenge as a new industry tries to ingratiate the concept into its daily operations.
Barriers to entry are going to play a big role for social equity applicants, said Harvest 360 co-founder David Serrano, who owns and operates a cannabis-friendly farm in Shawangunk, New York.
“Applicants are going to need support from their municipality, and unfortunately, folks with the most money have historically been given more attention and consideration,” he said.
For its upcoming May 20 half-day industry event, NY Cannabis Insider Live has partnered with Harvest360 to support 50 qualified equity applicants to provide free tickets to this special event and individual consultations to help their chances of succeeding in the space. (To apply to the program, fill out this form.)
The event, presented by Hance Construction, will feature New York State Assembly Majority Leader Crystal Peoples-Stokes, cannabis czar for the City of Portland, Oregon and founding chair of the Cannabis Regulators of Color Coalition Dasheeda Dawson, Ngiste Abebe, president of the New York Medical Cannabis Industry Association, Allan Gandelman, founder and president of the New York State Cannabis Growers and Processors Association, and more.
As New York sets up its legal market, it’s poised to potentially become one of the largest on the East Coast alongside its Garden State neighbor, which is home to some of the most densely packed municipalities in America.
Density also comes with competitive real-estate demands, something that has been cited as a barrier to entry in an industry where license holders, including ones in New Jersey, have often been required to hold onto millions in property before being approved to pursue a license — a requirement that can lead to big corporations dominating the market.
Serrano hopes New York does something to address the dynamic.
“If the state requires real-estate control before licensing, this will create a major barrier. We are hoping New York takes a page from Illinois on this one, and urges the state to simply not include real estate as a requirement for the micro applications,” he said. “Another major barrier for applicants is required proof of funds. This is another area where the state can support, by simply not including proof of funds as a pre-licensing requirement.”
Giving license holders one year to secure cash and real estate after a viable plan is presented could level the playing field for social equity applicants, Serrano said.
“This will give social equity license holders a position of power and minimize state-sponsored exploitation of social equity applicants by landlords and financiers,” he said. “For now, we have to wait and see. I urge everyone to engage in the open commenting period when the commission is formed and ask for these considerations. If we don’t activate and ask, they won’t give.”
To apply for the fellowship program and free tickets click here. The deadline to apply is by Saturday, May 15, at midnight. Winners will be announced on Monday.
The half-day conference is hosted by Advance Media New York, the company that publishes The Post-Standard, syracuse.com and NYUP.com, in collaboration with NJ Cannabis Insider, a weekly online trade journal and events group covering New Jersey and the Northeast region.
Click here for more details to purchase tickets.
Read more on New York cannabis at syracuse.com:
Curaleaf Holdings Inc. is selling cannabis at an annual rate of a billion dollars a year, and executives expect that to keep increasing.
Analysts on average were expecting Curaleaf to report a loss of a penny a share on sales of $254 million, according to FactSet. They were also projecting second-quarter revenue of $289 million on average, but Curaleaf’s chief executive forecast a bigger gain Monday.
“With our revenue projected to increase to $305 million to $315 million in the second quarter, we also expect to generate significant improvements in terms of achieving positive net income and positive operating cash flows in the back half of 2021,” CEO Joe Bayern said in a statement.
Curaleaf is one of the largest multistate operators, or MSOs, in the U.S., where marijuana is still federally illegal but states have been legalizing the drug for recreational and medicinal purposes. The company now operates more than 100 retail pot stores across the U.S., including four in Illinois and Pennsylvania that have opened since the end of the quarter, and is approaching 2,000 wholesale partner accounts, according to disclosures made Monday.
“The recent approvals of adult-use cannabis in New Jersey and New York, which are states where Curaleaf has a leading market share, will unlock vast new markets, worth an estimated $2.1 billion and $5 billion in sales, respectively,” Executive Chairman Boris Jordan said in a statement.
The company’s revenue from its retail operations grew to $187.7 million in the first quarter from $56.6 million a year ago, while wholesale revenue — which focuses on the company’s Select brand of cannabis products — grew to $72.2 million from $20.4 million. Management fee income fell from $19.4 million to less than $450,000, Curaleaf reported.
Curaleaf stock, which trades on a smaller Canadian exchange and over-the-counter because of federal rules blocking U.S. pot companies from trading on most larger exchanges, closed Monday with a 4.3% decline at $14.36. The company has a market capitalization of more than $10 billion, according to FactSet.
The BioTrade Initiative of the UN Conference on Trade and Development (UNCTAD), in cooperation with the Secretariat of the Convention on Biological Diversity (CBD), held an online workshop on how legal and sustainable trade can support the post-2020 global biodiversity framework. The workshop issued a set of recommendations on how to include trade in the new framework.
The workshop convened on 24 March 2021, under UNCTAD’s Global BioTrade Facilitation Programme, with the financial support of the Swiss State Secretariat for Economic Affairs (SECO).
The workshop gathered more than 180 representatives, including government negotiators, business representatives, and other stakeholders to explore the interrelation between trade, biodiversity, and the post-2020 global biodiversity framework.
According to the workshop report, the sustainable and legal trade of biodiversity-based products and services “creates incentives for the conservation and sustainable use of biodiversity and benefit sharing, supports cross-sectoral cooperation, mobilizes resources, and increases awareness for biodiversity.” It promotes sustainable consumption and production patterns, and supports the livelihoods of communities that rely on natural resources.
Online group discussions focused on sustainable and legal trade as a way for business engagement, measuring trade and biodiversity, standards and guidelines for trade and biodiversity, and achieving legal and sustainable trade through the post-2020 global biodiversity framework. Recommendations included:
- Capitalize on the interest of the business community to engage in the framework by: using business-friendly language; providing the space for business platforms, networks, and associations to engage in the development, implementation, and review of the framework; and embedding business engagement in the revised National Biodiversity Strategies and Action Plans (NBSAPs);
- Design the monitoring framework that would serve multiple purposes at global, regional, and national levels, and would include: conducting ex ante assessments; informing environmental impact assessments (EIAs) and strategic environmental assessments of trade policies; and ensuring that trade- and biodiversity-related information is part of the monitoring frameworks at global and national levels;
- Use standards and guidelines for trade and biodiversity to help raise consumer and business awareness on biodiversity and to contribute to outreach and communication, as well as to capacity development, especially for small and medium-sized enterprises (SMEs) along the value chains; and
- To make trade more sustainable, ensure that the post-2020 global biodiversity framework addresses the issue of perverse incentives and the generation of positive incentives, recognizes the importance of trade in supporting sustainable use and management of biodiversity, and improves legal frameworks, including for domestic trade standards and for implementing the Nagoya Protocol on Access and Benefit-sharing.
Acknowledging that if done legally and sustainably, trade can contribute to a successful post-2020 global biodiversity framework, participants stressed that the BioTrade Principles and Criteria can serve as a “compass” for the engagement with the post-2020 global biodiversity framework. They noted two approaches in the BioTrade Principles and Criteria that are “not featuring very strongly” but should be reflected in the updated zero draft: 1) the value chain approach; and 2) the adaptive management approach.
The outcomes of the workshop provide input to the third meeting of the CBD’s Subsidiary Body on Implementation (SBI), the 24th meeting of the Subsidiary Body on Scientific, Technical, and Technological Advice (SBSTTA), and the third meeting of the Open-ended Working Group on a post-2020 global biodiversity framework. The post-2020 global biodiversity framework is expected to be adopted at the 15th meeting of the Conference of the Parties (COP 15) to the CBD in Kunming, China, which is currently scheduled for October 2021. [Publication: Report of the Online Workshop on Trade and Biodiversity for the Post-2020 Global Biodiversity Framework] [Workshop UNCTAD Webpage]
CBD products are among the hottest items you can buy at grocery stores everywhere right now. Derived directly from the hemp plant, cannabidiol (CBD) has been shown to help people alleviate chronic pain, manage stress levels, and even improve sleep.
Since the market for CBD products is quickly becoming vast, we wanted to call out just five products that recently debuted that you may have missed. From dissolvable powder to squares of chocolate, here are the five new best CBD products to add to your diet right now.
And after, don’t miss This Is the Best Supermarket in America, New Survey Says!
Every morning you take your vitamins in the form of either a capsule, supplement, or chewable gummy, right? Now, you can add your CBD gummy with THC to the morning mix as well thanks to Medterra’s True Full Spectrum citrus gummies. Or, if you prefer to take your CBD before bed, you can try the brand’s Deep Sleep Berry gummy to help lull you into a deep slumber.
If you’d rather take your daily dose of CBD in the form of a capsule, consider trying Nuleaf’s plant-based CBD soft gels, which contains 15 milligrams a piece of a full spectrum of naturally occurring, synergistic cannabinoids and terpenes.
Compounding pharmacist Chris Adlahka founded Elevated Wellness in an attempt to „break through the clutter” of untested and unregulated CBD products. Among his latest releases includes a flavorless, water-soluble powder that consumers can put into their morning cup of coffee, tea, or even blend in their smoothie. You could even cook with it!
Um, who doesn’t appreciate eating a square of chocolate from time to time (every day)? As of December 2020, FIVE CBD began offering two varieties of Full Spectrum CBD chocolates (milk chocolate and sea salt dark chocolate) each of which packs 50 milligrams of CBD and 2 milligrams of THC. Get your chill on with one of these sweet treats.
The question is, do you prefer mint chocolate or citrus? Medterra’s new line of Full Spectrum CBD Drops now includes 2 milligrams of THC so you can take a deeper dive into the CBD experience.
For more, be sure to check out CBD for Anxiety: Does It Work?
CBD dabs are concentrated products that are extracted from Hemp seed oil or hemp plants. They come in forms such as shatter, crumble, budder, or wax, which you can dilute to your preferred strengths.
These concentrates can be added to a dab rig, e-rig or e-nails, lit up, and the vapor inhaled for dabbing. The crystals or powders are suitable for adding to your favorite foods and beverages. They are helpful for anxiety, insomnia, pain management, muscle soreness, and so on.
Here you will find some of the best brands with trusted CBD Wax for sale for the ultimate CBD experience.
1. Girl Scouts Cookies CBD Shatter
This USA-based company grows its hemp in Colorado and extracts it using the supercritical CO2 extraction system. This is to maintain the high standards of their hemp extract. Moreover, they provide this high-quality hemp in a comprehensive catalog and at very affordable rates.
They also carry out tests on their products to ascertain the high quality. For every 1 gram of their shatter, there is 900mg of CBD. It is rare to find this kind of potency at their prices anywhere else.
To show you how they go all out for their customers, they offer discounts to students, people with low income, and veterans. They also ship for free on orders above $99. They are your best bet on affordable quality products.
2. Cannabidiol Life OG CBD Dabs
This company has been manufacturing CBD wax for over three years and is rated the best for its excellent customer service. It sources its CBD from high-quality Colorado hemp extracts.
Their CBD content is 850 mg for every gram unit of their product. They also boast a wide range of terpenes and provide flavor choices of blueberry, popsicle, cotton candy, etc.
3. Hemplucid Whole Plant CBD Wax
They grow and process their wax in the USA, ensuring a THC content of below 0.3% as stipulated by the law. Their resin extraction is through the supercritical CO2 extraction process. Where compounds like phytocannabinoids, terpenes (such as beta-caryophyllene), and other phytonutrients are maintained. It ensures that their products are highly potent and fast-acting.
This also potentiates the entourage effect, which occurs when all the cannabinoids are active in the body. Their products undergo intense scrutiny by the 3rd party lab tests guaranteeing a high-quality product.
They offer free shipping for CBD products for all USA orders and a full 30-day refund for all their products.
This company has a rich and reputable history in the manufacture of CBD products. Their cultivation process is GMO-free and extraction is via the supercritical CO2 extraction process to ensure high-quality standards.
This produces a full spectrum CBD line consisting of CBD, terpenes, amino acids, and other cannabinoids. They are mainly preferred because their products are potent and not too sticky.
1gram of their wax has about 300mg of CBD.
5. Chakra Extracts
This company has been a feature on many news websites, and its CBD concentrates are suitable for dabbing. They offer a choice variety between pure CBD isolates, full-spectrum hemp oil, or one infused with extra terpenes.
Their products are lab tested to ensure they are highly potent as advertised and free from residual solvents, heavy metals, and pesticides. They come in various flavors, such as mango, pineapple, and lemon.
6. Highland Pharms
They cultivate their hemp in Colorado following the strict agricultural organic farming methods. Their catalog of products includes waxes, shutters, and crystals. They come in a wide range of concentrations and flavors, including; mango, strawberry, and banana.
Their products have more CBDa compared to CBD, with 65-85 mg of CBD per gram. Dabbing can be done in a vape cartridge, pipe, or bowl.
7. Diamond crystal dabs
They are a very reputable company in the CBD community, and their products are lab tested to ensure they reach high-quality standards.
Their CBD dabs also come in a variety of strengths from 250 – 10,000 mg of CBD content.
8. Cannabidiol Life Wax and Crystal Dabs
Sourced from the highest quality organic industrial hemp in Colorado, this company provides specifically flavored terpenes and a broad CBD dab spectrum. It contains CBD and other cannabinoids such as CBC (cannabichromene), CBG (cannabigerol), and many others.
They also have various delicious flavors you can choose from, including; pineapple express, blueberry OG, and StrawNana. When you visit their website, it is very user-friendly, and their customer service is very prompt.
Those are some of the CBD dabs you should try out in 2021. They have been vetted in terms of how the companies grow their product and maintain high-quality standards. How good their products are, their CBD concentration, and the variety of flavors provided. This scrutiny ensures that you are getting a high-quality product from any brand you choose from.
It is important to note that you should check for analysis certificates on each of the brands before buying to make sure their products are free from pesticides, heavy metals, and other harmful contaminants. Finally, please consult a medical professional to recommend the proper dosages to take as each product comes with its unique strength.
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A bill to legalize marijuana in Minnesota has been approved by its final House committee and will now advance to the floor.
The road to get to this position has been long and winding, with 12 panels hearing and voting on the measure since it was introduced in February.
House Majority Leader Ryan Winkler (D), Speaker Melissa Hortman (D) and other lawmakers filed the proposal, which would allow adults 21 and older to purchase and possess up to 1.5 ounces of cannabis and cultivate up to eight plants, four of which could be mature.
Members of the House Ways & Means Committee approved the legislation in a 16-10 vote on Friday.
Winkler previously said that he expects a floor vote this month, though that has yet to be scheduled. The legislature is slated to adjourn on May 17.
The bill “helps to correct wrongs that have been done for too long in Minnesota to communities who’ve been over-policed who have been targeted for cannabis enforcement to further a prohibition of cannabis that does not work,” the majority leader said in opening remarks.
Winkler said that “legalizing and creating a safe marketplace by taxing cannabis and using the proceeds from those taxes to pay for cannabis regulation to help invest in a cannabis industry” would reflect “the values of Minnesotans and help to address the harm that is caused by cannabis prohibition on our black and brown communities.”
The panel adopted an amendment from Winkler that expands the definition of social equity applicants to include those from communities disproportionately impacted by prohibition and makes changes to how regulators would address rules violations by businesses. It would also revise the amount of funding for various state agencies, including a reduction in appropriations for the Department of Corrections.
A proposal to require that the label on marijuana products include information about the maximum dose that is considered safe within a 24-hour period was also approved.
An additional amendment that would have required marijuana products to be labeled with a warning that cannabis remains illegal under federal law was rejected.
Prior to taking up the legalization bill, members adopted an amendment to separate budget legislation that would provide funding for the implementation of the cannabis program for the first biennium, after which time marijuana tax revenue would more than cover costs.
It the measure does clear the full House chamber, it’s still expected to face a significant challenge in the Republican-controlled Senate, where lawmakers have signaled that they’re more interested in revising the state’s existing medical cannabis program than enacting legalization of adult use.
That said, a GOP member of the Taxes Committee, which approved the legalization bill on Wednesday, indicated that he felt an amendment he introduced and that was adopted could bolster Republican support.
That revision from Rep. Pat Garofolo (R) directs remaining cannabis revenue to a tax relief account after implementation costs are covered and substance misuse treatment and prevention programs are funded.
“The adoption of this amendment is a gamechanger,” Garofalo said in a press release. “The Democrat majority accepting this amendment means that if signed into law, this bill will result in lowering taxes Minnesotans are FORCED to pay, financed with the revenue generated from taxes that people are CHOOSING to pay.”
Before the Taxes Committee, the bill passed the Health Finance and Policy Committee, Public Safety and Criminal Justice Reform Finance and Policy Committee, Education Finance Committee, State Government Finance and Elections Committee, Judiciary Finance and Civil Law Committee, Environment and Natural Resources Finance and Policy Committee, Agriculture Finance and Policy Committee, Workforce and Business Development Finance and Policy Committee, Labor, Industry, Veterans and Military Affairs Finance and Policy Committee and Commerce Finance and Policy Committee.
It’s official: for the first time in Minnesota history, the full House will vote on cannabis legalization & expungement.
— Ryan Winkler (@_RyanWinkler) May 7, 2021
“At the beginning of the year, a House committee had never passed a legalization bill. Now, we’re on the verge of passing a bill off the House floor,” Winkler said in an email to supporters on Friday. “We have the ability to change laws in a way that improves people’s lives, whether it’s expunging cannabis-related records, targeting economic opportunity for those impacted most by the war on drugs, providing relief for veterans suffering from PTSD and serious health conditions, and more.”
Marijuana Moment is already tracking more than 1,100 cannabis, psychedelics and drug policy bills in state legislatures and Congress this year. Patreon supporters pledging at least $25/month get access to our interactive maps, charts and hearing calendar so they don’t miss any developments.
The litany of committees the bill has gone through makes it perhaps the most thoroughly vetted legalization measure to move through a state legislature—and it means that a solid portion of the House has already had the chance to review, propose amendments to and vote on the legislation it as it advances to the floor, presumably increasing its chances of passage in the chamber.
The majority leader’s bill as introduced was identical to a proposal he filed last year, with some minor technical changes. Winkler, who led a statewide listening to gather public input ahead of the measure’s introduction, called it the “best legalization bill in the country” at the time. It did not advance in that session, however.
Under the legislation, social equity would be prioritized, in part by ensuring diverse licensing and preventing the market from being monopolized by corporate players. Prior marijuana records would also be automatically expunged.
On-site consumption and cannabis delivery services would be permitted under the bill. And unlike in many legal states, local municipalities would be banned from prohibiting marijuana businesses from operating in their areas.
Retail cannabis sales would be taxed at 10 percent. Part of that revenue would fund a grant program designed to promote economic development and community stability.
The bill calls for the establishment of a seven-person Cannabis Management Board, which would be responsible for regulating the market and issuing cannabis business licenses. It was amended in committee month to add members to that board who have a social justice background.
People living in low-income neighborhoods and military veterans who lost honorable status due to a cannabis-related offense would be considered social equity applicants eligible for priority licensing.
Cannabis retails sales would launch on December 31, 2022.
Gov. Tim Walz (D) is also in favor of ending marijuana prohibition, and in January he called on lawmakers to pursue the reform as a means to boost the economy and promote racial justice. He did not include a request to legalize through his budget proposal, however.
Walz did say in 2019 that he was directing state agencies to prepare to implement reform in anticipation of legalization passing.
Winkler, meanwhile, said in December that if Senate Republicans don’t go along with the policy change legislatively, he said he hopes they will at least let voters decide on cannabis as a 2022 ballot measure.
Heading into the 2020 election, Democrats believed they had a shot of taking control of the Senate, but that didn’t happen. The result appears to be partly due to the fact that candidates from marijuana-focused parties in the state earned a sizable share of votes that may have otherwise gone to Democrats, perhaps inadvertently hurting the chances of reform passing.
In December, the Minnesota House Select Committee On Racial Justice adopted a report that broadly details race-based disparities in criminal enforcement and recommends a series of policy changes, including marijuana decriminalization and expungements.
Photo courtesy of Mike Latimer.
The U.S. Better Business Bureau (BBB) has issued a warning to consumers about questionable “free trial” marketing practices for CBD products. BBB said it has received dozens of reports from consumers who responded to online pitches offering CBD samples for the cost of shipping and handling through credit cards.
Consumers complained that they were unknowingly enrolled in subscription programs, and were billed for hundreds of dollars after responding to the offers.
BBB said the consumer complaints, which came through its Scam Tracker system, mention “free trial” pitches ostensibly offered up by celebrities such as popular TV ministers Joyce Meyer and Joel Osteen. “Be skeptical of celebrity endorsements. Resist being swayed by the use of a well-known name. Scammers often fake celebrity endorsements,” the BBB warned.
Consumers also reported that scammers used numerous excuses to avoid issuing refunds. Some blamed computer problems while others said consumer claims were past the cancellation deadline for the offer.
How the scam works
“You don’t find out until three weeks later that you have signed up for a subscription and you are charged $99,” one victim reported to Scam Tracker. “They will not refund your money. They say you had 14 days to cancel, but there is no description of that on the website.”
BBB said some victims also reported on Scam Tracker that the charges continued even after they cancelled their subscription.
Numerous victims of the CBD free trial con reported not seeing the terms and conditions for the offers. “This is a huge red flag,” BBB said in the warning. “If you can’t find them or can’t understand what you’re agreeing to, don’t sign up.”
BBB also urged consumers to report any problems with CBD marketing scams to credit card companies, through which they can dispute fraudulent charges.