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🌿 Leaflet 🌿 November 5, 2019 🌿

🌿 Leaflet 🌿 November 5, 2019 🌿

We’re back this month to reintroduce our (now) weekly newsletter outlining the important cannabis topics you need to know about. The industry experienced a busy October with drastic changes in the market as well as new developments from governing bodies. Advancements in cannabis medicine, science, and technology also propel the industry forward. CannaGather had a big October with networking events all over the U.S. including a discussion with New York State Senator Liz Krueger covering the state’s cannabis report and prospects for 2020. Be sure to join us at a CannaGather in November as we continue to network and explore the latest progress in our communities as the reach of cannabis increases. 

Know someone who is just as cannacurious as we are? Be sure to share this post to keep them in the loop!

// CannaGather Calendar

November 5 // Los Angeles, CA // CGLA November: Backed By Science

November 6 // New Haven, CT // The Medical Benefits Of CBD & THC

November 14 // Baltimore, MD // Maryland Medical: Prioritizing the Patient

November 20 // New York, NY // Vaping Crisis: The Good, the Bad, and the Ugly

November 20 // Orange County, CA // Green Bits: Part 2

November 21 // Denver, CO // The Future of Edibles: Keynote Q&A with Nancy Whiteman

// Entrepreneurship

Social Equity at the Forefront of the Northeast Legalization Conversation

This month’s Regional Cannabis Regulation and Vaping Summit, where governors from New York, Connecticut, New Jersey, and Pennsylvania (with representatives from Massachusetts, Rhode Island, and Colorado) convened to discuss legal cannabis programs for 2020, shows that officials in the region are taking legalization and social equity seriously.

The Minority Cannabis Business Association (MCBA) announced this week that they will be hosting a Tri-State Cannabis Equity Summit on December 7th in NYC. The event was organized to ensure that new cannabis laws address social equity and focus on the inclusion of communities negatively impacted by the war on drugs. The summit “will take what the governors agreed to in principle, and provide them with concrete policy recommendations on how to put those principles into practice,” says MCBA President Jason Ortiz. Back in March, the MCBA released their Minority Cannabis Business Association Model Municipal Social Equity Ordinance to guide policymakers as they grapple with equity aspects of legislation.

What This Means and Why You Care:

Current and aspiring cannabis entrepreneurs should stay up to date as new equity rules and regulations begin to form around legal cannabis policy. Opportunities such as the upcoming MCBA event in NYC provide a platform for local businesses in communities weighed down by cannabis prohibition to make sure that they can benefit from upcoming policies. Likewise, we need to make sure that social equity is a key part of legalization legislation.

// Finance

The Canadian Market One Year After Legalization

Following a hot start, Canadian cannabis companies have seen a steep sell-off in recent months, some having their values sliced in half when expected returns did not come to fruition, leading to an industry-wide re-rating of risk. This sent ripples through the U.S. market as well and large deals announced last year have since been terminated, including Med Men’s (OTC: MMNFF) $682 million proposed acquisition of PharmaCann. A major issue facing the Canadian legal market is the shortage of retail outlets, allowing the black market to dominate with prices per gram that go for almost half of the legal price average. Many analysts and investors say the government is instituting excessive red tape and making it difficult for licensed producers to operate competitively.

What This Means and Why You Care:

Canada provides a valuable test-case for the effects of federal cannabis legalization. U.S. lawmakers and players in the space can use this as an opportunity to learn while paving a path forward for full-scale or state-level legalization.

// Legal

USDA Drafts Interim Hemp Regulations

A draft of the U.S. Hemp Production Program was announced this week by the U.S. Department of Agriculture (USDA) after it was approved by the White House Office of Management and Budget (OMB). These guidelines would help licensed hemp businesses maintain relationships with banks and insurance providers, a venture that has been difficult given the lack of legal clarity within the industry since the 2018 Farm Bill passed.

Under the proposed plan, hemp could be grown under federally-approved agricultural programs. It also provides a gateway for the USDA to approve state and Native American tribe hemp regulations, and includes provisions for land maintenance, THC-level testing, plant disposal, and licensing requirements. The public will be invited to comment on the rules once they are published in the Public Register and become effective.

What This Means and Why You Care:

Federal plans for hemp production will enhance the status of businesses at every level, from farming to retail. Various interpretations of hemp laws have caused a murky legal environment, but the proposed program provides important safeguards and benefits that other agricultural program participants have, which is a major turning point for the industry.

// Medicine, Science, & Technology

New Cannabis Studies and Advancements

A new effort to develop THC eyedrops for glaucoma treatment was announced this week by the head of the University of Mississippi’s Marijuana Research Project (the only federally-approved cannabis farm in the country). Clinical trials are underway to create drops that relieve the interocular pressure in the eye, without causing the high from THC. The Drug Enforcement Administration recently announced that they are “moving forward to facilitate and expand scientific and medical research for marijuana by increasing the number of qualified growers for research,” so there is optimism surrounding the prospect of other cannabis farms being opened up to federally-approved trials in the future.

In other news, scientists at the University of British Columbia created microscopic images of trichomes (“cellular factories”) of cannabis plants, exposing that those with mushroom-shaped hairs contain the highest cannabinoid levels. These “stalked” trichomes seem to be uniquely capable of making cannabidiolic acid, a precursor of CBD.

Lastly, Texas-based detection system manufacturer DetectaChem developed a field test kit for law enforcement that can distinguish between THC and CBD. This type of technology is vital for officials looking for a way to “cut through the legal quagmire of multi-state trafficking [and] grow farm regulations.”

What This Means and Why You Care:

Staying on top of advancements in medicine, science, and technology are key when navigating the industry. The referenced trichome study provides insight on the specific genes related to the production of cannabinoids and terpenes, which growers can structure to create desirable traits.

// Community

CannaGather Events in Full Swing from Coast to Coast

October proved to be another busy month for exciting CannaGather events. In New York, State Senator Liz Krueger shared unrivaled insight into the state’s cannabis report and prospectus for 2020. Over in Los Angeles, Charlie Wilson of Green Bits joined Rico Tarver to discuss Metrc, SAFE Banking Act, and much more. Kat Feuerstein and Nathalie Cone of Gilah Press + Design and Maryland Leaf Co-Owner Wyatt Early sat down in Baltimore to discuss marketing in the cannabis industry. Medicine Man Co-Founder and CEO Andy Williams participated in a CannaGather Colorado Q&A covering acquisitions in the state. Orange County hosted Green Bits CEO and Founder Ben Curren, SnapSlide COO Chason Sordoni, CannaSafe VP Antonio Frazier, and Ian Rassman of Chosen Payments.

Missed out on all the fun? Check out exclusive recaps of our New York and Los Angeles events below:

  • NYS Cannabis Report & Prospects for 2020
  • CGLA October: Entering The Age of METRC

Do you want to get involved and join the CannaGather team? Reach out to us, we would love to have you on board as we grow!

Written by Justin Bernstein

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