Is the Golden State indeed facilitating cannabis cross-state trading? California marijuana regulators have had extensive discussions with the state’s attorney general. Top state officials from the Cannabis Control Department (DCC) laid out the lawsuit over how California might avoid federal restrictions if state authorities decide to approve marijuana exports throughout state boundaries in an eight-page memo to the state AG’s office on Jan. 27, 2023.

Executives in the cannabis sector and legal professionals expressed their opinions about the memo, labeling it a significant development that, if realized, would require more time.

Matthew Lee, DCC chief lawyer, and Nicole Elliott, DCC executive director, have requested that attorney general Rob Bonta express an opinion on whether exporting cannabis to other states would pose a significant legal risk to California, given the state’s law on controlled substances. They pointed out that Congress is prohibited from limiting how states manage their imports and exports by the constitution.

The move follows the September signing of Proposed Bill 1326 by California Governor Gavin Newsom, which might establish interstate trade agreements if the following factors were satisfied:

• Nationwide legalization, which won’t happen anytime soon.
• A law is passed prohibiting the government from allocating funds to stop cannabis shipment between states.
• The United States Justice Department issues a statement or memo approving interstate marijuana trade.
• The completion of an examination of the applicable legislation, which includes federal court rulings and executive regulations, incuding the attorney general providing a reasoned report stating that state laws enforcing clinical or adult-usage commercial cannabis activity would not pose a major legal hazard to California under the federal CSA law.

Several states have made efforts to allow interstate commerce, including Oregon, New Jersey and Washington, DC. The specifics of how interstate commerce may operate are not known, despite the fact that California’s move represents a significant stride toward permitting cannabis businesses to sell cannabis outside of the state.

Outdoor-grown marijuana has long been a staple of the Emerald Triangle area of California, and a number of those cultivators have gone legitimate to participate in the legal sector. To help reduce excessive production, those marijuana growers want to see the whole nation opened up to legal trading.

Additionally, they want to create an appellations system that would enable California marijuana to be handled and promoted similarly to the celebrated Champagne of France.

At the moment, since marijuana air travel is subject to federal regulation, California would have to find a neighboring state to be a willing trading partner. Additionally, even if the state succeeds in gaining a partner, it must accept all of the conditions outlined in SB 1326. The new law mandates, among other things, that the partnering state adhere to all of the same testing, packaging, and labeling requirements as California’s marijuana market.

Should interstate commerce commence, there is likely to be a flurry of activity among companies sending inquiries to companies such as REZYFi Inc. which specialize in providing alternative funding to marijuana entities in need of a cash injection to boost operations and take advantage of market opportunities.

NOTE TO INVESTORS: The latest news and updates relating to REZYFi, Inc. are available in the company’s newsroom at https://cnw.fm/REZY

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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• REZYFi is a real estate-oriented mortgage company that primarily targets licensed and permitted cannabis companies and owners of real estate who lease to cannabis companies
• The company is keen on capitalizing on possible opportunities brought by new and pending cannabis legislation
• Recently, the California Department of Cannabis Control sought the legal opinion of the state Attorney General’s office on whether or not interstate cannabis commerce will be viable, given the signing of a state bill to allow the transportation and distribution of cannabis products to other states
• Should the letter yield a positive opinion, legal interstate cannabis commerce could be a game-changer for the California cannabis industry

As states, which have been largely responsible for every advance in legal cannabis, of course, backed by the tolerance of the US Department of Justice, continue to evermore inch the industry forward, companies in the space are keenly watching. One of these is REZYFi, a real estate-oriented mortgage company that primarily targets licensed and permitted cannabis companies and owners of real estate who lease to cannabis companies.

The bills, which expand the opportunities and market for REZYFi and other players in the space, have been introduced and/or signed into state law in a number of states, including California. In September 2022, Governor Gavin Newsom signed several bills to expand the legal cannabis market and remedy the harmful effects of bygone cannabis prohibition. Among these bills was Senate Bill 1326, which set the stage for licensed California marijuana companies to transport or distribute cannabis or cannabis products outside the state (https://cnw.fm/owUuS).

Specifically, it “would authorize the Governor to enter into an agreement with another state or states authorizing medicinal or adult-use commercial cannabis activity, or both, between foreign licensees, who are licensed under the laws of other state or states, and entities operating with a [California] state license…” (https://cnw.fm/P8zxo).

However, the bill stipulated that an agreement entered by the Governor can only take effect if one of four criteria is met, one of which requires the state Attorney General to issue a written opinion that the interstate cannabis trade “will not result in significant legal risk to the State of California under the federal Controlled Substances Act.”

It is pursuant to this criterion that the California Department of Cannabis Control (“DCC), through General Counsel Matthew Lee and Director Nicole Elliott, wrote a letter in late January asking the state Attorney General’s office its opinion on the matter. On their part, Lee and Elliott argued that interstate cannabis commerce would not result in significant legal risk to California (https://cnw.fm/kg7az).

The letter has spawned a lot of excitement, with major players in the legal cannabis space calling it a significant development. Should it yield a positive opinion, legal interstate cannabis commerce is poised to be a game-changer, with some observers noting it could indeed prove profitable (https://cnw.fm/vytft). It would, for instance, allow producers in California to access markets in new states, giving the state’s cannabis industry the tools it needs to drive growth.

According to an article in Forbes (https://cnw.fm/YVyAy), which quotes the head of Alliance for Sensible Markets, Adam Smith, interstate cannabis commerce bills “are indicative of a realization among forward-looking state leaders that state-siloed markets are unsustainable. In natural producer states like California, thousands of small farms and businesses are on the verge of collapse due to a lack of access to the markets these growing regions have traditionally served. In consumer states, where cannabis is more difficult or expensive to grow at scale, thousands of existing and potential small businesses will wait years for a still-limited and overpriced supply chain. Opening these markets will give those businesses immediate access to thousands of existing, world-class suppliers at more competitive pricing.”

REZYFi is uniquely positioned to benefit from the ever-evolving legal cannabis space. The company is led by a management team that has extensive experience in the cannabis and hemp marketplaces. This, REZYFi believes, allows it to understand the changing landscape of the cannabis industry and source the best opportunities in the sector. Additionally, the team holds significant managerial expertise and experience in a diverse range of real estate and financing subsectors, which allows the company to tailor financing packages to meet the unique needs of cannabis businesses. REZYFi is licensed in 36 states with offices in West Covina, California and Miami, Florida.

For more information, visit the company’s website at www.REZYFi.com.

NOTE TO INVESTORS: The latest news and updates relating to REZYFi are available in the company’s newsroom at https://cnw.fm/REZY

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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• San Diego Planning Group grants approval recommendation to Prime Harvest Inc. to open retail cannabis outlet in Mount Hope
• Community planning groups often appeal retail cannabis applications, resulting in long delays, court cases, and project abandonment
• Prime Harvest received local support by meeting with community stakeholders, revealed plans to integrate community’s needs into project
• Prime Harvest is a member of the Community Alliance Program, provides financial assistance for educational programs, homeless veterans, urban farms, and the arts

Opening a cannabis retail outlet in San Diego is not an easy process, but Prime Harvest, a legal tech-focused cannabis enterprise and parent company to JAXX Cannabis, is now one step closer with an approval recommendation from the San Diego Planning Group (https://cnw.fm/suOaj).

Most cannabis companies aiming to open a retail shop are not as fortunate due to the overwhelming resistance from community planning groups across San Diego. Appeals are rampant, and typically result in long delays, court cases, and project abandonment.

Despite the arduous process, some cannabis companies – like Prime Harvest Inc. – manage to break through and gain an approval.

On November 14th, the Southeastern San Diego Planning Group voted 8 to 2 to recommend approval of a conditional use permit for Prime Harvest Inc. to open a retail cannabis outlet in the city of Mount Hope. This is in sharp contrast to previous applications opposed by local grassroots organizations such as Millennium Hippie and Paving Great Futures, where “lack of engagement with the community and no plan for equity” were cited as reasons for the appeals.

Prime Harvest Inc.’s application took a different turn due to multiple meetings between the company and community stakeholders. During those engagements, Prime Harvest Inc. representatives demonstrated a plan to integrate the communities’ needs into its project, such as neighbourhood security and park beautification.

Social initiatives and philanthropy have always been a part of Prime Harvest Inc.’s mission. The company is a proud member of the Community Alliance Program (“CAP”), which provides assistance for educational programs, veterans, urban farms, and the arts. In addition, the CAP advocates for safe access of cannabis medicine to individuals in need.

Scientific research continues to validate therapeutic cannabis use for numerous conditions, including multiple sclerosis, anxiety, chronic neuropathic pain, resistant pediatric epilepsy, chemotherapy-induced nausea, and insomnia (https://cnw.fm/OhLhT). Prime Harvest Inc. is dedicated to helping patients affected by these conditions. Further, to complete its retail offerings, the company plans to market a range of cannabis-based products targeted at recreational and health-conscious consumers.

“From our humble beginnings in 2017 as San Diego, CA cannabis producers to our position today as a leader within the state’s cannabis industry, we’ve delivered excellence in legal access to cannabis, and best-in-class experiences that our community loves and supports,” said Prime Harvest CMO JM Balbuena (https://cnw.fm/C4YWI).

Prime Harvest Inc. is a full-service cannabis company that focuses on licensing, acquisition, compliance management, and direct-to-consumer operations. The company aims to provide first-in-class cannabis experiences while enriching local stakeholders with programs that support vulnerable communities, healthcare, education, and the arts.

For more information, visit the company’s website at www.PrimeHarvestInc.com.

NOTE TO INVESTORS: The latest news and updates relating to Prime Harvest are available in the company’s newsroom at https://cnw.fm/PRIME

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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Only a few weeks after facing Republican opposition and being excluded from the fiscal year-end expenditure bill, Senate Democrats are reconsidering cannabis banking legislation. Senator Charles Schumer, the majority leader in the Senate, met with a small group of Senate Democrats on Feb. 1, 2023, to discuss how they would plot out the bill in the next Congress despite what appears to be a likely stalemate with Republicans in control.

The proposed bill would enable banks to provide services to marijuana-related businesses in states where it is permitted.

Last year, Senators Cory Booker (N.J.) and Ron Wyden, who was unable to attend the most recent meeting due to a prior engagement, uncovered an exhaustive cannabis reform package. However, to win the support of the GOP, Schumer oversaw negotiations that resulted in an agreement called Safe Banking Plus.

Although the leaders are optimistic, they are aware that the road to getting the bill past the GOP-controlled House is difficult.

In December, Patrick McHenry, the chairman of the House Financial Services Committee, stated that while he opposes SAFE Banking, he would not obstruct the bill’s passage if Congress supported it unanimously. However, it doesn’t seem to be at the top of the House Republicans’ priority list.

Senators Dan Sullivan (Alaska) and Steve Daines, who spearheaded the effort to have Safe Plus in either the omnibus spending or annual defense bills during the previous Congress, were conspicuously absent from the discussion this week. Mitch McConnell, the leader of the Senate minority, slammed any door that might have allowed the bill to be attached to either of the two bills in the past.

It was intended for the SAFE Banking Plus legislation to be introduced alongside the Harnessing Opportunities Act, initiated by Representatives Alexandria Ocasio-Cortez and David Joyce (R-Ohio), which would have funded state expungement initiatives with grants.

Democrats are, however, divided over how to get SAFE Banking Plus signed into law by the president.

Senators who support the bill point out problems that have arisen as a result of cannabis businesses being excluded from the contemporary banking system, such as a recent wave of robbery attacks on dispensaries that have become easy targets because they are compelled to carry liquid cash.

“We’ll keep working on it until the end. There is a serious public safety concern here. People in my class don’t understand that, despite having legalized it through a vote, we can’t use banks,” Wyden said, slamming Republicans who frequently support states’ rights but disagree on a specific point.

As lawmakers ponder how to get cannabis banking enacted, innovative solutions like those provided by alternative financiers such as REZYFi Inc. will continue to be the lifeblood of entities looking to scale their operations or launch new products.

NOTE TO INVESTORS: The latest news and updates relating to REZYFi, Inc. are available in the company’s newsroom at https://cnw.fm/REZY

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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REZYFi, a growth mortgage origination and specialized financing company in the United States, is at the forefront of cannabis and real estate. “REZYFi originates, structures and invests in first mortgage loans and alternative structured financing secured by commercial real estate properties. REZYFi’s target market includes licensed and permitted cannabis companies, owners of real estate who lease to cannabis companies, and companies and individual homeowners seeking a variety of real estate-related first and additional mortgage-based financing… REZYFi operates through two wholly owned subsidiaries and is positioned as one of the first cannabis mortgage bankers in the United States, an area most traditional banks are hesitant to serve,” a recent article reads. “REZYFi is using a diversified approach to the real estate lending sector to capitalize on growth in multiple verticals in the years to come. The company’s experience, network of independent brokers, and proprietary technology allow it to leverage the industry and offer a wide range of real estate and financing options that were not readily available.”

To view the full article, visit https://nnw.fm/4UapS

About REZYFi Inc.

REZYFi is a cannabis-focused mortgage origination and specialized financing company in the U.S. The company originates, structures and invests in first mortgage loans and alternative structured financings secured by commercial and residential real estate properties. For more information, visit the company’s website at REZYFi.com.

NOTE TO INVESTORS: The latest news and updates relating to REZYFi are available in the company’s newsroom at https://nnw.fm/REZY

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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The 2023 New England Cannabis Convention, a three-day event being conducted from March 10 – 12, 2023, invites cannabis professionals, investors, entrepreneurs, and growers, for immersive experiences and meaningful interactions.

As the leading cannabis industry event on the east coast, NECANN brings new consumers and relationships to the attendees. The event regularly attracts the largest number of cannabis, MMJ, and hemp industry specialists, and this year will again be the biggest, most significant cannabis industry event on the East Coast!

Home Base for the New England Cannabis Industry

NECANN has been developing appealing conventions for the cannabis industry since 2014, intensifying market opportunities for entrepreneurs, businesses, investors, patients, educators, advocates, and consumers.

This grand Annual Meeting of the East Coast Cannabis Industry features a sold-out exhibit hall including hundreds of businesses spanning the full spectrum of the hemp and cannabis industries. It also embraces five full programming tracks running throughout three days, with several professional speakers covering all the significant news and topics for the New England markets.

The Annual N.E. Cannabis Convention will also honor the key businesses and individuals putting an incredible amount of work into the cannabis industry. The award winners will reveal the best cannabis grown in the northeast. Attendees can leverage numerous separate ticket workshops with incredible networking events and after-parties all weekend.

Who should attend?

Entrepreneurs, cannabis enthusiasts, and the general public can all enjoy the 2023 New England Cannabis Convention, which will offer educational seminars. The informational conferences and panel discussions will provide insights into the cannabis political climate, new/ existing legislation, potential growth, business opportunities, networking and career opportunities, cannabis research, awareness, education, and advocacy.

Cannabis growers and professionals can show you how to nurture your cannabis brand with excellent labelling, representing the newest in vibrant on-demand label media and color printing solutions. Attendees can connect with exhibiting cannabis-related vendors including physicians and doctors, ancillary cannabis product manufacturers, CBD product distributors, local dispensaries and producers, and many others.

Exhibitors will get an opportunity to demonstrate their services and products to a target audience, getting their business noticed while helping to build important collaborative associations with other cannabis business disciplines.

To learn more, please visit https://cnw.fm/dXHmw

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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