Cannabis Companies Seek Strong Strategies to Meet Growing Demand

CannabisNewsWire Editorial Coverage: With demand outstripping supply, successful cannabis companies are following smart core strategies and reporting strong revenues.

Golden Developing Solutions Inc. (OTC: DVLP) (DVLP Profile) has used a mix of acquisitions, diverse brands and products, and increased production footprint to meet customer demand and report significant revenue increases, including its strongest second-quarter numbers ever. Industry giant Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) has followed a similar path, though some change may follow the recent departure of its co-CEO. Tilray Inc. (NASDAQ: TLRY) has invested heavily in increasing production while reaching into new markets such as the United Kingdom. Medmen Enterprises Inc. (CSE: MMEN) (OTCQX: MMNFF) and Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) have both shown the potential for growing multistate businesses in the United States, despite the challenges created by federal legislation.

Increasingly liberal laws have allowed demand to show in the legal market, but supply has not yet caught up.
To meet this demand, the industry needs to increase production.
Individual companies are using acquisitions and diversification to improve their revenues.

To view an infographic of this editorial, click here.

Expanding Business

The cannabis, hemp and CBD sector is experiencing a period of huge expansion. With medical cannabis now legal in 60% of U.S. states, recreational cannabis legal in many states as well as Canada, and hemp production legalized on a federal level, North America has become home to a thriving industry. What was relegated to illegal markets and fringe cases only 20 years ago is now the source of an economic boom.

In this brave new world of legal business, cannabis companies are looking for ways to maximize their profitability and ensure a strong position as the market keeps expanding. So what are the strategies bringing success for the growing cannabis companies, both big and small? And how are those strategies contributing to the development of the sector?

Expanding Production

For the companies working in this sector, such as Golden Developing Solutions Inc. (OTC: DVLP), their work in the space is producing strong growth and sales numbers. From March 2018 to March 2019, Golden Developing Solutions saw an 800% jump in performance. Further growth was announced in May, as the company went from strength to strength.

“As we projected, top-line performance is accelerating across all metrics following our recent investments,” said Triant. “Everything is clicking right now.”

For Golden Developing Solutions, some of its growth is coming by expanding production. With the cannabis industry being so new and tightly regulated, production is relatively limited. And with demand rising rapidly, especially for hemp-derived CBD, the industry is currently struggling to meet customers’ needs. This demand supports high prices but still means that producers are missing out on opportunities, as there is untapped potential in the market.

Golden Developing Solutions is just one of the companies expanding its production capacity in response to this trend. The expansion is a complex undertaking, as a hemp or cannabis production facility requires a specially adapted building, hydroponic equipment to grow the plants, security and other support facilities, and an appropriate license from the relevant local authority. When a new growing space is established, such as Golden Developing Solutions’ recently announced 25,000-square-foot facility in Denver, Colorado, it’s big news for both the company and the industry.

This move in Colorado by Golden Developing Solutions was a direct response to that gap between supply and demand. Already equipped with much of the equipment it needs, and with licensing in place to produce marijuana infused products, DVLP has identified an ideal space with promising potential.

“Our CBD Infusionz segment is bursting at the seams right now,” said CEO Stavros Triant. “Demand already vastly outstrips supply capacity. This new facility directly addresses that issue, and should provide the necessary room for the explosive growth that we anticipated when we made that acquisition in March.”

Acquisitions and Subsidiaries

Increasing production space is the only way for the industry as a whole to address supply shortages. But for individual companies, other options to increase their presence in the sector are available.

The past two years have seen a huge surge in acquisitions in the cannabis sector. These acquisitions have allowed companies to grow in size, resulting in increased supplies and sales. Though it doesn’t directly lead to an increase in overall supply, the benefits in scale and efficiency mean that, in the long term, this coming together of companies could lead to better supplies.

For Golden Developing Solutions, its most important recent acquisition has been Infusionz LLC, a manufacturer of CBD products. Completed in March, the acquisition gave Golden Developing Solutions control not just of Infusionz’s production base but also of its established brands and retail links. Building relationships with customers is a tricky business in an industry where licensing limits marketing options and where brand allegiances are just starting to form. Acquiring a brand for which demand already outstrips supply is invaluable.

This is a common pattern for mergers and acquisitions in the cannabis and CBD space. Though brands may be relatively small scale compared with other industries, they are often not folded into existing lines on acquisition. The benefits of experimenting with new brands and tapping into their customer base outweigh what might be gained by merging output to supply a smaller number of brands.

A More Diverse Approach

Infusionz isn’t the only subsidiary in Golden Developing Solutions’ armory. In addition to Where’s Weed, a core pillar of the company since 2011 connecting medical and recreational cannabis consumers with local dispensaries, delivery services, strains and more, the company is also focusing its attention on Where’s CBD.

Similar in nature, Where’s CBD is a new technology resource and future online marketplace connecting CBD consumers with local businesses, brands and educational content across the United States, helping people quickly find the right products for themselves or their loved ones.

Providing a powerful opportunity to capture both customers and purchasing data while providing distribution channels for brands, Where’s CBD is a diverse addition to the company that inherently adds more value to the overall ecosystem and foundation that has been built thus far.

By increasing production, acquiring smaller competitors, and diversifying their products and services, cannabis companies are becoming stronger than ever.

Among these strengthening companies is Canopy Growth Corporation (TSX: WEED) (NYSE: CGC). If any company can be considered an established giant in such a young industry, it’s Canopy Growth. Emerging from the Canadian market in 2013, Canopy Growth quickly rose in power off the back of the Canadian medical cannabis sector. As of April 2019, Canopy Growth was the largest cannabis company in the world as measured by market capitalization and showed no sign of faltering. Like Golden Developing solutions, it has followed the three main paths to growth in the sector, including diversifying its product line to suit a market that now includes recreational cannabis and CBD derivatives as well as medical cannabis. The recent departure of co-CEO Bruce Linton has caught observers by surprise but is unlikely to disrupt Canopy Growth’s ongoing rise.

Another of the big Canadian companies, Tilray Inc. (NASDAQ: TLRY) recently announced the investment of $32.6 million in expanding its cultivation and manufacturing facilities. The expansion work, taking place over three sites, will increase the company’s production and manufacturing footprint to 1.3 million square feet. The company’s growth includes reaching into new markets, with the recent announcement that it has exported bulk amounts of cannabis oil into the United Kingdom. The United Kingdom only allowed the use of cannabis oils recently — with stringent restrictions. Some expect this to become the thin end of the wedge, as many in the country would like to see cannabis rules liberalized, especially where the drug can meet medical needs. By being one of the first bulk providers in the country, Tilray could establish itself as an important name before the British market is even fully formed.

Of course, there’s still room for improvement in the legal situation in the United States, and Medmen Enterprises Inc. (OTCQX: MMNFF) (CSE: MMEN) has established itself as one of the largest financial supporters of progressive marijuana laws. The gap between federal laws and those in individual states is an ongoing problem for companies working in North America, making it hard to carry out cross-state operations. Despite this, Medmen has managed to establish a multistate business working across 19 facilities that, through a move into Arizona, bring business to five states.

Another U.S. company, Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) is a vertically integrated medical and wellness cannabis company whose strategic focus is specifically on areas where demand is most likely to go unmet. Working in states such as Florida, Massachusetts, New Jersey and New York, which are highly populated but have limited licensing, the company is bringing its products to customers who may struggle to get the cannabis and CBD derivatives they are looking for. Curaleaf has used acquisitions to help with this strategy, with the recent acquisitions of Emerald Dispensary.

By diversifying, increasing production and acquiring other companies, cannabis businesses are expanding to meet previously unmet demand.

For more information on Golden Developing Solutions, visit Golden Developing Solutions Inc. (OTC: DVLP)

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420 with CNW – Teen Marijuana Use Reduces When Recreational Use Laws Are Passed, Study Finds

A newly published research paper is suggesting that while the overall number of young people who use marijuana has increased over the years, there appears to be a reduction in teen marijuana use in states where recreational cannabis has been legalized.

The legalization of recreational cannabis has been linked to an 8 percent drop in the number of high school teens who confessed that they had used marijuana in the past 30 days. There was also a 9 percent drop in high schoolers who reported that they had used cannabis a minimum of 10 times in the past 30 days.

Mark Anderson, the lead author of the study which was published on Monday this week, said that it was important for people reading the research findings to note that the researchers didn’t find any link between the prevalence of teen marijuana use and the passing of medical cannabis laws in different states.

The researchers also stressed that the study doesn’t suggest that when recreational marijuana laws are passed, then teen cannabis use drops. The study only points to an association, not causation.

The findings of the study were arrived at after analyzing the annual Youth Risk Behavior Surveys done by the U.S. CDC. The researchers specifically looked at the data collected between 1993 and 2017. This data included information on 1.4 million high schoolers.

The researchers zeroed in on the responses about marijuana use before recreational cannabis laws were passed and after legalization. The same was done for areas where medical marijuana laws were enacted.

The researchers believe that their findings are the most reliable on the matter, but they also added that many states didn’t have recent self-reported data on teen marijuana use since legalization laws had only started being implemented recently. They therefore vowed to update their statistics after a few more years to reflect the data sets on the states where recreational marijuana has recently been legalized.

However, this study seems to contradict what other studies have found. For example, the Criminal Justice Department in Colorado found that there was no change in teen marijuana use from the time recreational marijuana was legalized five years ago.

Commenting on this recent study, scientists have wondered why that drop in high schoolers using marijuana has been observed. Some suggested that when adult-use marijuana is legalized, it becomes harder to get cannabis off the streets, and this could limit teen access to the substance. It would be interesting to hear what marijuana companies like Net Element Inc. (NASDAQ: NETE) and Nabis Holdings (CSE: NAB) (OTC: NABIF) (FRA: 71P) have to say about this potential explanation for the drop in teen marijuana use.

More research needs to be done to establish what exactly is causing the drop in teen marijuana use in places where recreational marijuana is legal.

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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 – Congress Considers Stopping Denying Veterans Home Loans Due to Cannabis Industry Work

The House Rules Committee of Congress is going to consider an amendment this week that seeks to stop the Department of Veterans Affairs (VA) from denying the home loan requests of veterans who derive all or part of their income from work in state-legal marijuana industries.

Rep. Katherine Clark (D-MA) filed the measure that, if passed, will be attached to the National Defense Authorization Act.

Previously, it wasn’t known to the public and lawmakers that the VA had a policy of denying any home loan application of a veteran who worked in a marijuana company in a state where the industry is legal. However, one constituent of the mover of this amendment drew the attention of the lawmaker to this issue early this year and Clark immediately started working to correct this practice.

In May, Rep. Clark spearheaded a move to get lawmakers to sign a letter addressed to the VA on this unfair policy. In their letter, they noted that a significant number of veterans work in the marijuana industry and more will join them as more states legalize the industry.

The bipartisan group of legislators urged the VA to acknowledge and clarify that veterans will not be denied their benefits just because of the industry in which they work.

At about the same time, the House Appropriations Committee wrote a report highlighting the lack of clarity on the rules of the VA on home loans for veterans who work in the state-legal cannabis industry. The panel went ahead to impose a 180-day deadline within which the department should clarify what its official position on this issue is.

Clark’s amendment has language to the effect that the VA will not use a veteran’s employment in a state-legal cannabis business as a basis to determine the suitability of that person for a housing loan.

Last month, another Congressional committee approved another amendment to the spending bill of the Department of Defense. That amendment permitted the reenlistment of members even if they had used or been convicted of misdemeanor marijuana offenses while off-duty.

However, the VA has a history of pushing against any pro-marijuana amendments that come up for discussion, and the latest amendment filed by Rep. Clark is likely to get the same treatment. It would be enlightening to know what the different industry players like MustGrow Biologics Corp. and Marijuana Company of America Inc. (OTCQB: MCOA) would suggest as a way to get around this brick wall of VA resistance to marijuana policy reform.

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420 with CNW – Study Finds Most People Buy Marijuana to Get Some Sleep

Contrary to the common perception that most people buy marijuana in order to get stoned, a new study done by the University of Miami and the Albert Einstein College of Medicine has found that the majority of those who buy marijuana in Colorado use the substance as a sleep aid. These findings are significant because recreational marijuana has been legal in the state for about 5 years now.

In the survey, 1,000 customers of two recreational marijuana stores in Colorado were asked a variety of questions about their motivation for using cannabis. 74 percent of the respondents revealed that they buy marijuana as a sleep aid while 65 percent confessed that they buy marijuana to combat pain.

About 80 percent of the survey participants who said they use marijuana for pain relief admitted that the substance was very helpful in that regard, and 88 percent of these people who had ever used opioids reported that because of using cannabis, their use of prescription opioids had reduced.

It isn’t altogether surprising that people are using cannabis to get some sleep. For long, marijuana has been known to have soporific (inducing sleep) effects and some research even suggests that CBD (cannabidiol) is responsible for expediting sleep and enhancing the overall quality of sleep that one has.

Additionally, while limited research is still available on the pain-relief effects of cannabis, some small studies indicate that marijuana may be a viable alternative to the traditional pain medication available on the market. Researchers think this is a strong possibility since the nerves which detect pain also have a large number of cannabinoid receptors.

The researchers who surveyed the cannabis buyers in Colorado wrote that if cannabis is legalized federally, there is a possibility that people’s dependence on strong prescription pain medications which have serious side effects could be reduced.

It has also been suggested that marijuana could be a good alternative if it is used as a harm reduction agent for people who are addicted to opioids.

The findings of this Colorado study are in line with another 2014 study whose findings appeared in JAMA showing that there was a reduction in the level of opioid use after marijuana was legalized.

While more research still needs to be done, industry experts think that the findings of the latest research in Colorado aren’t anything new to companies like Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) and Hemptown USA since the cannabis industry has been talking about the different benefits of cannabis to different groups of people.

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420 with CNW – 6 Highlights of Michigan’s Newly Released Recreational Marijuana Rules

More than half a year after Michigan voters approved a ballot measure to legalize recreational marijuana, the authorities have released emergency rules which will shape the recreational industry in the state. Here are some of key takeaways from those rules.

Local Authorities Have Until Nov. 1 to Opt Out of Hosting Cannabis Businesses

State authorities will start accepting recreational marijuana business license applications on Nov. 1 this year. Until that date, local authorities (townships and cities) can make up their minds whether they will or will not allow marijuana businesses to operate within their jurisdictions. Currently, 600 communities have opted out, but many of those were waiting to review the rules released by the state government before making a final decision on the matter.

Social Use is in the Offing

The state plans to issue special licenses to establishments that wish to have the social consumption of pot on their premises. However, those social consumption lounges will not be allowed to sell food or alcohol. If organizers of festivals and special events apply for a permit, marijuana consumption will also be allowed at such gatherings. Industry analysts wonder what industry players like Green Hygienics Holdings Inc. (OTCQB: GRYN) and Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) would make of this provision given the fact that marijuana lounges won’t be allowed to sell food or alcohol, but cannabis can be availed at festivals (where food and alcohol are also available).

Starting a Recreational Cannabis Business Will Be Easier Than Starting a Medical Cannabis Business

It will be easier for those interested in starting recreational pot business when compared to the requirements for starting a medical cannabis company. For example, those opening recreational cannabis businesses will not be required to prove that they have funds while those who start medical cannabis companies have to prove that they have between $200,000 and $500,000 in cash and assets before obtaining a license. It is also more affordable to get a license to grow recreational marijuana than get one for growing medical marijuana.

One Store Can Sell Both Medical and Recreational Marijuana

The emergency rules also have clauses allowing medical cannabis provisioning centers to sell recreational marijuana as well if the two types of products are stored or displayed in different sections of the store. The entrance and points-of-sale systems can be the same for both types of buyers.

Medical Cannabis Plants May Be Transferred to Recreational Marijuana Grow Facilities

In the beginning, plants originally cultivated for the medical marijuana market may be transferred to a facility cultivating weed for the recreational market. This provision has been created in order to minimize supply kinks as recreational marijuana sales are launched.

A Plan for Social Equity in the Industry is Being Drafted

The state authorities have also indicated they will release a social equity plan later this month (July) outlining how communities which were hit hard during the days of cannabis prohibition can be supported to benefit from the legal industry. This support could include license fee waivers.

On paper, these rules seem logical and practical enough, but the true test will come once their implementation begins later this year before recreational sales begin next year.

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420 with CNW – 4 Ways to Spot the Best CBD Products

The exploding popularity of CBD as a health and wellness product in a largely unregulated market (so far) creates a need for each buyer to vigilant when deciding where to spend their hard-earned money on CBD products. Here are some tips that can help you to sort the great products from those that may not be so great.

Buy from Licensed Dispensaries/Brands

There’s a reason why McDonalds, Starbucks and other major brands attract thousands to their doors each day; buyers are sure that the products they purchase will be of the same quality that they have learned to expect. Similarly, known brands in the cannabis space, such as Golden Developing Solutions Inc. (OTC: DVLP) and Geyser Brands Inc. (TSX.V: GYSR), go to great lengths to provide high-quality products. Consequently, you stand a high chance of getting the best CBD products if you shop from such establishments when compared to another person who takes their chance with any random supplier online or offline.

Scrutinize Online Reviews

Product sellers know that the opinions of buyers matter when potential customers are making a buying decision. Some sellers will therefore do everything they can to tip buyer opinions in their favor, including writing fake reviews. It is therefore helpful for you to read through the product reviews with a critical eye. Do you see many reviews posted at approximately the same time? Are the names or photos of the people who posted those reviews questionable? These may be pointers that the reviews aren’t authentic, so be wary of buying that product. You can also go a step further and use an online tool that ranks sites on how genuine their product reviews are so that you are sure that the reviews upon which you make your buying decision are genuine.

Compare Product Prices

The CBD industry is relatively new, so most manufacturers use the same methods to extract and package products. This means that there shouldn’t be a big variation in the price of comparable products. If a certain product has a price which is significantly lower than the price charged by other sellers, investigate further to ascertain the authenticity of that product. Beware of products whose price seems too good to be true!

Analyze the Product Benefits on the Packaging

While there is still limited scientific research about the health and wellness of benefits of marijuana and its derivatives like CBD, the benefits listed on the packaging shouldn’t be too outlandish either. For example, how will you know that a given product has provided “emotional cleansing” as the package claims? Do your research and only buy products whose stated benefits are realistic given the available information on the subject.

There are indications that the FDA will draft rules to regulate CBD products which are added to food and drinks, and individual states are also drafting their own rules. Until these come in force, the tips above will go a long way in ensuring that you buy the best CBD products available.

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420 with CNW – Alzheimer’s Patients Can Now Register for Medical Marijuana in Minnesota

Starting from July 1, patients suffering from Alzheimer’s can start enrolling for medical marijuana in Minnesota. Once these patients are registered, they will be permitted to buy medical marijuana from the two licensed manufacturers in the state.

The Department of Health first announced in December last year that Alzheimer’s would be added to the list of qualifying conditions for medical marijuana.

While a review panel had recommended that seven conditions be added to the list, only Alzheimer’s was approved by Jan Malcom, the Health Commissioner. The others which had been proposed include traumatic brain injury and opioid use disorder.

The addition of Alzheimer’s now brings the number of medical marijuana qualifying conditions to 14. This number has been growing every year since the medical marijuana program started five years ago with just 9 qualifying conditions.

Currently, statistics put the number of patients on the state’s medical marijuana program at 15.687 by March 31. The inclusion of Alzheimer’s among the qualifying conditions has the potential to increase the number of registered patients significantly since the Alzheimer’s Association estimates that there are at least 94,000 people who are living with Alzheimer’s in the state. Even if just one tenth of this number signs up for medical marijuana, the patient numbers on the program will swell by a huge percentage.

It isn’t just the Alzheimer’s patients who will benefit when medical marijuana is available. Approximately 254,000 family members and friends are involved in taking care of these patients. When marijuana brings improvements in the behavioral effects of Alzheimer’s, it get easier for caregivers to look after their loved ones.

The Department of Health in Minnesota will use the month of July to process the applications of Alzheimer’s patients and these people will start accessing medical marijuana on August 1. The details of what patients require in order to be certified on the program have been availed on the department’s website.

While no scientific studies have provided any conclusive proof that marijuana can cure, prevent or slow the progress of Alzheimer’s, some recent studies suggest that this could be possible. A small study recently showed that marijuana inhibits the formation of the protein plaque which has been associated with the onset of dementia, one of the leading symptoms of Alzheimer’s.

Minnesota now joins the ranks of states and territories which have included Alzheimer’s among the conditions for which patients may use medical cannabis. Marijuana industry advocates speculate that while the industry players like Earth Science Tech Inc. (OTCQB: ETST) and Choom Holdings Inc. (CSE: CHOO) (OTCQB: CHOOF) may have been disappointed that only one condition was added, they could be pleased that thousands of patients and their families will benefit from medical marijuana.

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420 with CNW – Colorado Governor Unveils Online Tool to Track Cannabis Achievements

Colorado Gov. Jared Polis (D) launched an online tool on Monday that will enable members of the public to keep track of what the state government is doing to attain its goals, which include taking the marijuana industry to greater heights.

The goals have been categorized into six groups. These are marijuana, education and workforce, criminal justice, tax reform and economic development, and energy and renewables.

The online tool, called “the governor’s dashboard,” outlines targets or priorities for each of those six areas. For example, under the cannabis category, the governor undertakes to operationalize the home delivery of marijuana in accordance with the law he signed last month. He also promises to see marijuana companies listed on stock exchanges, as well as working for a 20 percent increase in the number of financial institutions serving cannabis companies. Gov. Polis also wants to establish the state as a national leader in research, production and processing of industrial hemp.

Speaking at the launch of the dashboard, the governor revealed that he is happy to avail that platform since it will ensure accountability and transparency on all matters affecting Coloradans.

The agriculture department will do a lot to facilitate the attainment of the goals on hemp. A three-year development plan for this sector shows that the governor wants to see the indoor production of hemp increase to 10 million square feet from the current 7.67 million square feet. The plan also states that outdoor cultivation should increase to more than 60,000 square feet from the current 21,000 square feet.

To attain these lofty goals, the state plans to submit a plan for the regulation of hemp to the U.S. Department of Agriculture for approval so that large scale production can begin. The state will also support farmer-owned cooperatives in addition to other interventions to encourage industrial hemp value addition.

Polis has always believed that the marijuana industry is yet to reach its full economic potential in Colorado and he has done what he can to promote the industry. For example, he signed bills to allow social consumption sites and regulate home delivery of marijuana products.

Last month, the state government released a report showing that more than a billion dollars had so far been collected by the state as cannabis taxes, fees and other collections. It is therefore expected that the working group formed to steer the state towards attaining all the goals listed on the dashboard will not have any excuses for not doing the work assigned to them.

Industry analysts can only guess how far players like ChineseInvestors.com Inc. (OTCQB: CIIX) and Chemistree Technology Inc. (CSE: CHM) (OTCQB: CHMJF) would be if all the markets they operated in were as proactive as Colorado.

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420 with CNW – Congress Schedules Hearing on Ending Marijuana Prohibition

A major Congressional subcommittee plans to hold a hearing next week on ending cannabis prohibition. The Crime, Terrorism and Homeland Security Subcommittee will discuss a number of proposals that are aimed at passing legislation to protect states which have enacted marijuana laws.

Considering the list of people who are expected to be invited to speak to the subcommittee on Wednesday (July 10), one is left to conclude that the subcommittee is interested in learning how prohibition can be ended rather than gathering views on whether reform should happen.

For example, one of the witnesses who is expected to testify during the subcommittee hearing is Malik Burnett, a leading physician at the Bloomberg School of Public Health at Johns Hopkins Hospital. Previously, Burnett worked with the Drug Policy Alliance as its National Policy Advisor. In that role, he helped to secure success for a voter initiative to legalize recreational marijuana in Washington, D.C. in 2014.

Marilyn Mosby, the Baltimore State Attorney, is also on the list of those to testify. She is noted for announcing in January this year that her department would no longer prosecute any marijuana possession case.

David Nathan, a doctor and board president of Doctors for Cannabis Regulation (DFCR) is also set to make an appearance before the subcommittee. DFCR is a pro-legalization group of physicians.

As you can see, the people who are lined up to talk to the subcommittee all share a desire to see the end of marijuana prohibition.

While the legislators will not be voting on any specific bill, it is nonetheless an important hearing since it marks the most important Congressional sitting on matters of marijuana policy reform. The information that they gather is expected to be passed on to the powerful House Judiciary Committee under which this subcommittee falls.

The importance of this committee explains why Rep. Earl Blumenauer (D-OR) earmarked that committee as the one that will deliver the end of prohibition in his roadmap to cannabis legalization.

Worth noting is the fact that every Democrat on the full Judiciary Committee cast his or her vote in favor of the recent amendments preventing the Justice Department from taking action in states where marijuana laws have been passed. Six Republicans also cast their votes in support of the spending riders, and this is regarded as a positive sign that broader cannabis law reform can win bipartisan support in this crucial House committee.

It is widely expected that the entire cannabis industry, including entities like Canopy Rivers Inc. (TSX.V: RIV) (OTC: CNPOF) and Cannabis Strategic Ventures Inc. (OTCQB: NUGS), will be keenly following what transpires in the subcommittee.

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420 with CNW – Maine Recreational Marijuana Regulations Signed

Back in 2016, voters passed a measure to legalize recreational marijuana in Maine. Since then, residents have been waiting for the state government to draft and pass regulations which would operationalize recreational cannabis cultivation, manufacture and sales. Gov. Janet Mills has now signed the regulations and brings the long wait to an end.

These guidelines will take effect in September and the first recreational cannabis sales could begin early next year.

Speaking at the signing ceremony, Gov. Mills remarked that the rules show what can happen when the government works with legislators, industry players and members of the public to attain a common goal. She added that this law brings the state ever so close to making the people’s wish of legalizing recreational marijuana a reality.

One of the clauses in the regulatory framework states that any marijuana company which wishes to be licensed in the state must have a resident who has lived in Maine for at least four years as the majority shareholder with an ownership stake that isn’t less than 51 percent. This requirement will remain in force until June 2021.

The law also contains restrictions on who can sell marijuana in the state. Anyone who has been convicted for any offense related to drugs (even if that drug isn’t marijuana) within the past 10 years and those who have ever had their marijuana license revoked anywhere in the U.S. aren’t eligible for a marijuana sales license in Maine.

Local authorities have also been allowed to decide whether recreational marijuana businesses can open within their jurisdictions or not. So far, only a paltry 15 out of the 455 municipalities in the state have expressed interest in licensing recreational cannabis businesses.

This low interest is understandable from two key perspectives. First, the ballot measure which saw the legalization of marijuana was passed by a slim majority of voters. If voter sentiments haven’t changed much since 2016, it is reasonable to expect that a sizeable number of municipalities (and the residents therein) will be opposed to recreational marijuana.

Secondly, many municipalities have been waiting on the state government to pass the regulatory framework before they can decide whether to opt in or out of the recreational industry. Now that the rules are out, the vast majority of municipalities in this category will make their position known by the time recreational sales officially begin.

Marijuana industry watchers are wondering what industry players like Youngevity International Inc. (NASDAQ: YGYI) and Willow Biosciences Inc. (CSE: WLLW) think about this regulatory framework, which has become law in Maine.

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