420 with CNW — City Data Shows Denver Has Collected $500M in Cannabis Taxes

According to recent city data, Denver has reached a new cannabis milestone: since 2010, tax income from recreational and medical cannabis has exceeded $500 million. While Colorado celebrates exceeding $15 billion in cannabis sales since legalization, Denver’s report highlights the substantial tax dollars generated locally, supporting various public programs and services.

For more than a decade, Denver has added an impressive $501,538,144 to its coffers through marijuana tax revenue. The city has already collected around $33 million in marijuana taxes this year alone.

The revenue stems from various sources, including medical and retail marijuana sales tax, affordable housing tax, retail special tax, state share-back and cannabis business licensing fees. These revenues can be attributed to approximately $5.7 billion in cannabis sales since 2010, with the figure for 2023 standing at just more than $300 million as of August 2023.

Consequently, Denver has played a significant role in Colorado’s broader cannabis economy, which has earned more than $2.5 billion in taxes since recreational cannabis legalization in 2014.

According to city officials, Denver has used $61.7 million of its marijuana revenue to fund affordable housing, $30 million for services for the homeless, $27 million for education, $10 million for investments in small businesses and $4 million to address the opioid crisis.

Colorado became the first state to begin selling recreational marijuana after voters approved a legalization issue on the ballot in 2012. Sales reached a peak of more than $2.2 billion in 2021, but since then, sales have decreased, essentially leveling off during the last two years. Denver’s experience has also been consistent with that general trend.

A different Denver analysis released earlier this year showed that the city’s marijuana laws have significantly shrunk the extent of the black market, with law enforcement in 2022 processing a record low quantity of illegal cannabis.

Meanwhile, Governor Jared Polis, a vocal advocate for legalization, has been working to strengthen the existing cannabis industry while advocating for federal reforms. He recently commended President Joe Biden for his administration’s recommendation to reschedule cannabis but emphasized the need for further action to address concerns related to federal enforcement, marijuana banking, immigration and criminal justice reform.

In May, the governor approved legislation establishing restrictions for substances such as ayahuasca and psilocybin. Since then, he has called on lawmakers to take action to enable him to grant mass pardons for individuals with past convictions related to psychedelics. In June, Polis also ratified a bill authorizing the sale of marijuana online. The change became operative in August of this year. Additionally, he has supported legislation that will strengthen the state’s restrictions against marijuana use for working professionals, essentially codifying an executive order he made the previous year.

These benefits that the city of Denver is enjoying are being replicated in some form in other jurisdictions and countries where licensed marijuana companies such as Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) have been given leeway to serve customers interested in cannabis for recreational or medical use.

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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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420 with CNW — Study Concludes Set and Setting Impact Mental Health Benefits of Cannabis

A recently published study shows that engaging in yoga after using cannabis can lead to improved mystical experiences and mindfulness. The study suggests that the surrounding environment and activities can significantly influence a person’s cannabis experience. The study, which forms part of a psychology dissertation submitted at the University of British Columbia, was intended to investigate how contextual factors during marijuana consumption impact overall well-being.

Study author Sarah Elizabeth A. Daniels stated that when using psychoactive substances intended for mental-health treatment, researchers frequently take into account contextual factors outside the direct effects of the drug, such as one’s behavior, mindset and setting. These factors are known to have a substantial impact on therapeutic outcomes, a principle well-recognized in psychedelic research but less so in the context of therapeutic marijuana use. The study’s findings suggest that, similar to psychedelics, the concept of “set & setting” during marijuana use may profoundly influence the therapeutic benefits of the drug.

To assess how context affects the marijuana experience, Daniels conducted a study with 47 participants who self-administered cannabis on two separate occasions, one week apart. In one session, the subjects practiced yoga, and in the other, they took part in their routine activities, which often involved doing housework, eating, socializing or watching TV. The subjects were evaluated on measures including state effect, mystical experience, as well as state mindfulness.

The results showed a significant increase in mystical experiences and mindfulness when participants practiced yoga while using cannabis. On the other hand, there wasn’t a noticeable difference in the participants’ mood and emotional states between the two sessions.

The study findings have potential implications for enhancing the therapeutic use of cannabis as well as recommendations for clinical practice. Daniels pointed out that providing specific behavioral guidelines and psychoeducation on the role of set & setting may be beneficial. The study further suggested that the altered state of consciousness experienced while using cannabis should not be disregarded as it holds significant therapeutic value.

The U.S. government has previously acknowledged the consciousness-changing potential of hallucinogens as a significant side effect, which led to research into pharmaceutical products that mimic their effects without hallucinations. Meanwhile, the combination of yoga plus marijuana has been a long-standing practice within the marijuana community, with classes offering this pairing emerging as early as the initial stages of state-level legalization. These activities have often been praised anecdotally for their benefits.

The findings of this study can help marijuana industry players, such as Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), to find novel ways in which to position their products in a way that shows customers how best they can get maximum benefits while using those products for different purposes.

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420 with CNW — MasterCard, Bank of America, NRA Lobby in Support of Marijuana Banking

The Bank of America, MasterCard and the National Rifle Association are among a group of institutions that have disclosed lobbying activities related to legislation that would grant the cannabis industry access to banking services. Despite generating billions of dollars in sales, America’s state-legal cannabis industry has had no access to financial services for most of its existence.

Cannabis businesses cannot access financial aid, and they are forced to operate on a cash-only basis, making them prime targets for criminals looking for liquid assets to steal.

After lawmakers failed to advance cannabis banking past the U.S. Senate several times, an amended version of the bill titled the Secure and Fair Enforcement Regulation (SAFER) Banking Act has gained bipartisan support and has a high chance of reaching President Joe Biden’s desk.

The three institutions recently included the SAFER Banking Act in their lobbying disclosure for Q3 2023. This measure would finally allow financial institutions such as banks to serve state-legal cannabis businesses without fear of reprisal from federal authorities. The measure was recently subject to a historic vote at the Senate Banking Committee, representing the first time the U.S. Senate addressed cannabis banking legislation. Although the bill’s previous iteration passed the House multiple times, it failed in the Senate each time.

While the Bank of America has disclosed lobbying activities for both the SAFE Banking Act and the SAFER Banking Act, which recently received the Senate’s approval, the National Rifle Association (NRA) has only disclosed lobbying activities related to the SAFER Banking Act. Since neither institution has discussed its position on the legislation, it still isn’t clear if they intend to lobby against or in favor of cannabis banking legislation.

Even so, we can use their past positions on the controversial drug to surmise whether they will lobby for or against expanding the marijuana industry’s access to financial services.

The Bank of America has shown interest in the cannabis industry in recent years, with Bank of America Merrill Lynch initiating equity research coverage for Canadian cannabis companies in 2019.

While the National Rifle Association hasn’t expressed an official stance on cannabis, former NRA president David Keene has noted that federal restrictions that criminalize Americans for medical marijuana use are causing major issues. The former president said in a 2018 op-ed that the dissonance between federal and state cannabis laws was creating significant problems for gun owners across the country.

MasterCard is actively lobbying in support of the SAFER Banking Act and lobbied for cannabis banking in 2019 and 2020.

These efforts are a welcome development to marijuana enterprises such as Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) that are invested in seeing marijuana policies reformed not just at state level but preferably federally.

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420 with CNW — MSO’s Foray into Marijuana Delivery Business Births Expansion Plans

Two years ago, MariMed, a Massachusetts-based multistate cannabis operator, decided to establish a cannabis delivery service within its home state. Following comprehensive research on existing marijuana carrier services, the company contemplated two primary strategies: initiate a delivery service from scratch or look into acquiring an existing delivery company in Massachusetts.

Ultimately, MariMed opted to invest in Little Dog Delivery, and the two entities formed a strategic partnership. The essence of the partnership was MariMed’s aspiration for Little Dog to function as an extension of Panacea Wellness, the trio of retail establishments that MariMed owns in eastern Massachusetts.

Presently, Little Dog boasts a fleet of three delivery vans, each assigned to one of the Panacea Wellness locations, and operates under the moniker Panacea Delivery Powered by Little Dog. The delivery radius encompasses a 25-mile span around MariMed’s three dispensaries, covering eastern Massachusetts from the New Hampshire border down to Cape Cod. To incentivize customers, there is a nominal $10 delivery fee, which is waived for orders exceeding $200.

Operating the delivery service involves specific requirements stipulated by the state. These include equipping the delivery vehicles with GPS and a partition segregating the cannabis products from the driver. Moreover, the law mandates that a second employee accompany the driver in the passenger seat.

Ryan Crandall, MariMed’s chief revenue officer, reveals that the company has observed a consistent uptick in transactions each month. He states that the delivery consumer base is high-value and more loyal, with their average order value typically surpassing that of in-store shoppers.

To boost the delivery business, MariMed fosters partnerships with local businesses, such as yoga studios, to whom it gives discount codes to distribute among employees. According to Crandall, the keys to success in cannabis delivery include punctuality, effective communication, discounts and establishing loyalty reward programs.

Following the success of its venture in Massachusetts, MariMed expanded its delivery services to Delaware, another market under its purview. However, unlike in Massachusetts where MeriMed partnered with an existing business, the company established the Delaware delivery service from scratch, seamlessly integrating it into its existing medical retail model.

Despite maintaining a semblance of standard operating procedures across delivery services, certain variations arise due to differing state regulations. Delaware, for example, only mandates one employee per delivery vehicle, in contrast to Massachusetts, which necessitates a driver be accompanied by a second person.

Though MariMed has yet to introduce delivery services in Illinois, its third operating state, Crandall anticipates the eventuality of offering delivery to consumers in the state and seeks to be well prepared for that opportunity.

MeriMed’s evolution shows how numerous marijuana companies, such as Canopy Growth Corp. (NASDAQ: CGC) (TSX: WEED), are nimble and leverage any opportunities that come their way in order to deepen their penetration of the market.

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Lexaria Bioscience Corp. (NASDAQ: LEXX) Grows List of Licensed Partners Following Exclusive Collaboration and License Agreement with SulfoSyn

Lexaria, a global innovator in drug delivery platforms, just announced an exclusive license to SulfoSyn Limited to use its patented DehydraTECH(TM) technology
Lexaria will also perform specific DehydraTECH-related manufacturing operations on SulfoSyn’s behalf for an initial term of 2 years
The license agreement adds to Lexaria’s growing list, which, as of the last two years, includes BevNology LLC, Premier Wellness Science Co. Ltd., and Dehydr8, LLC, among others
It highlights the superiority of Lexaria’s technology, as further compounded by the 37 patents granted so far

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, just announced its latest global, exclusive license to SulfoSyn Limited to use its patented DehydraTECH(TM) technology. This license will allow SulfoSyn to use Lexaria’s technology in non-pharmaceutical uses of sulforaphane worldwide, with the ability to sub-license its rights to other companies (https://cnw.fm/O8yxc).

This agreement is the product of months of research for the two entities. In late 2022, both Lexaria and SulfoSyn started exploring the applicability of DehydraTECH upon sulforaphane. This Sulphur-rich composite molecule is commonly found in vegetables such as broccoli, kale, and cabbage. The testing established that DehydraTECH did have certain superior qualities on the sulforaphane molecule, a result that showed the technology’s commercial viability, specifically for SulfoSyn.

As a result, SulfoSyn will be at liberty to use the DehydraTECH technology for various non-pharmaceutical uses, including supplements, foods, additives, dietary ingredients, and more. In addition, Lexaria has also been contracted by the company to perform specific DehydraTECH-related manufacturing operations on behalf of SulfoSyn for an initial term of 2 years, an engagement that will see Lexaria increase its revenue.

An up-front cash payment has since been paid by SulfoSyn, with minimum future payments already agreed to. In addition, the licensing agreement will see an ongoing royalty payment generated once the minimum payments are exceeded.

This license agreement with SulfoSyn adds to Lexaria’s growing list, which, in the last two years, includes BevNology LLC, Premier Wellness Science Co. Ltd., and Dehydr8, LLC, among others. Given the company’s focus on licensing its technology to companies worldwide, this latest addition marks a significant milestone while highlighting its current growth trajectory, particularly as it continues to create value for its shareholders.

In addition, this milestone highlights the superiority of Lexaria’s DehydraTECH technology, as further compounded by the patents received so far and the pending patents worldwide. On August 29 and September 26, the company received its latest new patents in Canada, bringing the total number of granted patents to 37. Even so, Lexaria continues to invest heavily in its research and development (“R&D”), exploring the potential usage of its technology in various areas of application, including nicotine replacement, antivirals, cardiovascular drugs, human hormone delivery, CBD, PDE5 inhibitors and more.

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

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

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420 with CNW — Marijuana Successes on Capitol Hill Galvanize Protagonist Groups

The past two decades have seen a dramatic shift in attitudes toward cannabis among both the American public and lawmakers. Millions of Americans now have access to marijuana through dozens of medical and recreational cannabis markets, and the controversial plant has strong support in legislative circles.

Several polls also show that a majority of Americans support legalizing or decriminalizing the plant in some capacity. For example, a 2022 study by Pew Research Center found that 88% of American adults say medical and recreational cannabis use should be legal for adults while only 10% said cannabis shouldn’t be legal.

With cannabis drawing incredible support from both Americans and their representatives, fighting the wave of cannabis reform sweeping across the country can seem nigh impossible. In fact, anticannabis legalization groups at Capitol Hill are having an exceedingly hard time keeping the fight alive now that several top lawmakers are seriously considering federal cannabis legalization.

Even so, a small but persistent group of lawmakers mostly drawn from the Republican Party are still fighting against procannabis policies in Washington, and they seem to be pushing back. The group of lawmakers has won several important victories against cannabis reform policies in recent months including halting progress on a critical cannabis bill.

Republican Senator James Lankford heavily criticized the methodology and necessity of research proposed by a bill on marijuana-based treatments for conditions such as post-traumatic stress disorder (PTSD). Pressure from conservative factions eventually caused the bill to be passed out of committee unanimously.

According to Justin Strekal, the National Organization for the Reform of Marijuana Laws (NORML) former director in charge of political affairs and founder of a procannabis legalization PAC, cannabis reform has reached the “fight you” stage. With drug reformists in the nation scoring major wins in recent years, Strekal said the recent losses to anti-legalization factions showed that things can go wrong at the last moment.

More than a dozen lawmakers led by Lankford and Representative Pete Sessions also sent a letter to the U.S. Drug Enforcement Administration asking it to reject a proposal to reduce federal cannabis restrictions by the Biden administration. This came after President Joe Biden directed the U.S. Department of Health and Human Services to recommend a review of marijuana’s status under the Controlled Substances Act.

The lawmakers argued that cannabis rescheduling decisions should be based on science and proven facts rather than popular opinion or legislative changes at the state level.

Senators Cynthia Lummis and Steve Daines were also quick to respond and introduced a bill that would require Congressional approval before the Biden administration could make any changes to federal cannabis policy.

These unfolding political developments are likely to be kept on the radars of cannabis companies such as Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) since the outcome could impact the trajectory of the industry in the United States.

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420 with CNW — Cannabis Regulators Find Retail Outlets Have 99% Compliance Regarding Checking Age

A recent investigation by Colorado marijuana regulators has found that 99% of state-legal cannabis stores were compliant with underage sales checks. Out of 285 checks, cannabis regulators found only four failures, representing a “very high” compliance rate of around 99% for 2023.

The state Department of Revenue’s Marijuana Enforcement Division (MED) noted in its latest quarterly Weeds newsletter that while any failure is unacceptable, the state still had an extremely high compliance rate for underage cannabis checks. Cannabis retailers in Colorado also had a 99% compliance rate in 2022 up from 95% in 2021, and 97% in 2020 and 2019.

While many cannabis reform opponents argued that legalizing marijuana would increase youth access to the controversial plant, data shows that age verification laws are limiting youth access to legal cannabis across the country.

Colorado residents who would like to buy legal cannabis have to show photo IDs before they can even enter a recreational cannabis retail location, meaning minors have little chance of accessing regulated cannabis products. Adult-use cannabis retailers also have to go through a training program to receive a “Responsible Vendor” certification, which further encourages company compliance while significantly limiting youth access.

Colorado legalized recreational cannabis in December 2012 and launched retail sales in January 2014. The state’s adult-use industry soon ballooned in size, thanks to significant demand for cannabis within and outside the state, reaching a whopping $1.537 billion in 2022.

With more than 20 states legalizing recreational cannabis, tens of millions of Americans have access to recreational cannabis. Consequently, most states with recreational cannabis markets only allow adults aged 21 and older to access cannabis markets and require that cannabis retailers verify their customers’ ages before selling cannabis products.

A Journal of Safety Research study from last May used underage operatives to investigate if 90 cannabis retailers in California followed state-mandated age restrictions and discovered a 100% compliance rate. Another study showed 100% of cannabis stores in Oregon passed the underage check test in a 2017 sting operation, indicating that a majority of cannabis businesses follow underage cannabis consumption restrictions deadly serious.

Data on underage cannabis checks has been so positive that former Colorado Governor John Hickenlooper said he was wrong to think that legalizing cannabis in Colorado could result in increased drug use by the youth. He explained that there has been no change in the frequency of cannabis use among teenagers, no increase in cannabis experimentation and no change in rates of driving under the influence.

This goes to show that the rise of marijuana companies such as Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) may have in some way actually helped to avert teen access to cannabis due to the stringent age verification requirements retailers adhere to.

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420 with CNW — Lessons for Ohio from Michigan’s Recreational Cannabis Launch

Ohio may soon be the latest state in America to legalize recreational cannabis. Reform activists collected enough signatures for a legalization initiative titled Issue 2, and Ohioans are on track to vote on the measure in November.

Multiple polls have found that most Ohio residents plan to vote in favor of the initiative to legalize and regulate recreational cannabis in the state. For example, a September poll by the Coalition to Regulate Marijuana Like Alcohol found that 55% of voters would “probably” or “definitely” support the recreational cannabis legalization initiative.

Before Ohio potentially launches the latest recreational cannabis market in the country, the state could learn from neighbor Michigan, which legalized recreational marijuana in 2019. Soon after, border towns such as Adrian, Michigan, were home to dispensaries that regularly served customers from Ohio.

Amazing Budz dispensary general manager Chris Jacobson notes that half of his customers drive from Ohio, many of them wearing Ohio State University jerseys. Jacobson says some customers come in search of a sleep aid while others are looking for something to boost their appetites.

Ohio Issue 2 will legalize the cultivation, processing, distribution, sale, purchase, possession, home cultivation and use of cannabis for adults aged 21 years and older. It would allow adults to possess up to 15 grams of cannabis concentrates and up to 2.5 ounces of cannabis while also allowing the cultivation of up to six cannabis plants at home.

Local and state taxes on cannabis sales would be divvied up between social-equity and job programs, addiction treatment and education, funding for dispensary host communities, and administrative and regulatory costs.

If Ohio does legalize recreational cannabis, the state could learn some lessons from Michigan’s adult-use industry as well. This could include the average onboarding process for customers at cannabis dispensaries.

Jacobson says his dispensary serves all adults aged 21 and older regardless of their state of origin and uses state-issued IDs to verify customer identity and age. Like Michigan, Ohio first started with a medical cannabis industry and could copy Michigan’s format of dispensaries selling both recreational and medical cannabis.

For instance, Amazing Budz started out as a medical cannabis dispensary, incorporated adult-use marijuana two years later, and now serves both medical and recreational cannabis customers. Jacobson says the creation of cannabis testing standards reduced the risk of tainted products hitting the market, something that could also benefit the Ohio market and protect Ohioans from consuming contaminated cannabis products.

However, recreational cannabis operators in Ohio will also have to deal with the drawbacks of federal prohibition, such as lack of access to banking services.

If and when Ohio eventually launches its recreational marijuana market, opportunities will open up for many companies to potentially grow to the levels that other cannabis enterprises such as TerrAscend Corp. (TSX: TSND) (OTCQX: TSNDF) have risen to in the years that they have been in operation.

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420 with CNW — Marijuana Contaminants Could Have Health Risks for Users

Cannabis use, whether for medical or recreational purposes, may have adverse effects due to the presence of harmful fungi contaminating the plants, according to a recent peer-reviewed study. The study, published in the “Frontiers in Microbiology” journal, employed data derived from earlier studies, combined with U.S. and international regulations related to the marijuana industry. The researchers examined various contaminants, including mucor, fusarium, penicillium, aspergillus and other fungi capable of infecting cannabis plants and generating mycotoxins.

The findings showed that specific fungi could induce infections in lung and skin tissues, with such infections being more prevalent when marijuana is smoked compared to when it’s ingested. Cancer patients using marijuana to alleviate nausea and enhance their appetite, along with transplant recipients and individuals with type 1 diabetes or HIV, are particularly susceptible to these infections. Additionally, the findings suggest that individuals involved in cannabis harvesting might be at risk.

Lead author Kimberly Gwinn said, “Cannabis and hemp are relatively new crops, and our comprehension of their interactions with pathogens is in its infancy. Many pathogens produce mycotoxins, which are compounds known to have detrimental effects on human health and are closely monitored in other crops.

“In our review, we provide a comprehensive overview of the current literature regarding mycotoxins in cannabis and hemp products,” she continued. “We also highlight the existing research gaps regarding potential mycotoxin contamination in these crops, drawing from insights gained in other crop systems.”

While cannabis research has predominantly focused on the substance and its medicinal applications, there is an imperative need for a more extensive examination of potential health hazards associated with its consumption, according to the study. The authors noted that the absence of standardized human health-risk assessment methodologies applicable to the emerging hemp and cannabis industries has resulted in fewer studies focused on their risk. Additionally, the diverse array of consumer uses for these substances, including medicinal use by patients with specific medical conditions, presents a unique challenge in evaluating and mitigating the health risks associated with contaminants.

The differing cannabis regulations from state to state, particularly in the United States, also pose a challenge to mitigating risks. Notably, fusarium mycotoxins, a common class of fungal contaminants that result in vomiting when consumed, currently lack regulatory oversight in most states.

In light of these discoveries, the authors strongly advise immunocompromised consumers to opt for products that have undergone sterilization, at least until more comprehensive data becomes available. The study’s authors also recommend further exploration and possible regulatory adjustments to safeguard consumers, particularly those with compromised immune systems.

This risk of consuming tainted cannabis products is the reason why it is better for consumers to access their products from licensed companies, such as SNDL Inc. (NASDAQ: SNDL), as opposed to riskier black-market products, which don’t adhere to specific standards.

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420 with CNW — Seasonal Marijuana Harvesters in Demand Amid Layoffs

The competition for seasonal workers for this year’s outdoor cannabis harvest has been relatively fierce. Many marijuana growers have downsized their full-time workforce in recent years in response to inflation, high-interest rates and the substantial capital required to compensate for this labor shortage.

Over the past one and a half years, there have been numerous layoffs in the industry, resulting in slimmer crews that require additional assistance during the harvest season, according to Viridian Staffing CEO Kara Bradford. An April report from Vangst showed that total cannabis job numbers have declined by 2% since 2022, marking the first decline in the industry since the legalization of marijuana in various states.

EzHire Cannabis CEO and cofounder Jacob Carlson noted that cannabis companies struggled to establish full-time cultivation teams with competitive salaries and benefits, resulting in the need for temporary workers.

The demand for seasonal employees has also surged due to increasing competition from mainstream industries grappling with similar economic challenges.

Viridian has seen a surge in requests for temporary workers during the fall’s “Croptober,” when most outdoor harvests occur. However, Bradford stated that companies are often deterred by the costs associated with hiring a recruitment firm, as they mistakenly assume that temporary workers are cheaper than full-time employees.

In reality, factors such as inflation and rising wages have made temporary workers costly. Currently, the average hourly pay for a marijuana trimmer is $16, which can go up to $40 depending on experience. In addition to this, recruitment companies have to cover expenses such as workers’ compensation, unemployment insurance and workplace safety training, which many operators overlook, making the hiring cost high.

The work involved in cannabis harvesting is more demanding than regular retail jobs, leading to higher turnover rates. Additionally, in some states, growers face obstacles such as background checks and criminal record checks when hiring temporary marijuana workers.

Larger companies, especially multistate operators, have a financial advantage and can afford to pay higher wages to attract seasonal workers. Smaller operators, on the other hand, may find it challenging to compete, given the cost constraints.

In the past, full-time, noncultivation employees were used for outdoor harvests; today, more companies are seeking temporary workers with experience. Trimmers, in particular, require knowledge and experience because the job can be isolating, with long hours spent alone. For small companies, this means higher costs, which can be hard for some to meet.

Karson Humiston, CEO of Vangst, views the increased demand for seasonal workers as a sign of a maturing market. She stated that companies have become more adept at predicting the labor needs, particularly during the fall harvest season, which necessitates additional workers. “The early demand for autumn harvest workers as early as April is a positive sign, indicating that businesses are adopting more sophisticated HR strategies to better forecast their labor needs,” she said.

The labor changes being seen regarding harvesters shows how the marijuana industry and its players like Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY) will adjust their systems in order to stay afloat even when the market experiences headwinds like the current high inflation.

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