Governor wants California to ‘legally supply the rest of the nation’
Marijuana Moment reports that California Governor Gavin Newsom (D) wants to see cannabis federally legalized, in part so that California cannabis farmers can “legally supply the rest of the nation.”
Interstate cannabis commerce is currently illegal under federal law, and the publication points out that unlocking this ability could be beneficial for California, as it has an ideal climate for outdoor cultivation that could help meet demand in other states.
In anticipation of this development eventually transpiring, the Governor has already signed a bill that would let him enter into agreements with other legal states.
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Cannabis producers and retailers funded legal weed campaigns
Cannabis farms, manufacturers and retailers have provided millions of dollars that footed a petition to put an initiative to legalize recreational cannabis for adults on the November ballot, reports Associated Press.
Provisions in the proposed amendments would give established medical cannabis licensees a leg up in the new recreational marketplace, the publication states, and CEO of cannabis company, Greenlight, John Mueller told the publication that the bill would create more jobs, more tax revenue and get cannabis off the black market.
To date, legal cannabis campaigns have raised an estimated US$23 million across Arkansas, Maryland, Missouri, North Dakota and South Dakota.
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Will US companies follow Canopy to the Toronto Stock Exchange?
Canopy Growth’s plans to launch Canopy USA to accelerate its acquisitions of three American cannabis companies and remain listed on a major stock exchange might have provided a blueprint for U.S. companies, writes MJ Biz Daily.
Due to the federal legality of cannabis, plant-touching cannabis companies in the U.S. have so far been unable to raise capital on major exchanges. Listing on the Toronto Stock Exchange could provide companies with the opportunity to attract more investment.
Speaking to the publication, MJBizDaily, Catherine Kee, spokesperson at the Toronto Stock Exchange parent TMX Group, said: “We are aware that legislation applicable to the marijuana sector is evolving. TMX continues to monitor the developments with interest, and we remain committed to supporting the enduring success of the cannabis industry.”
Swiss joint venture initiates first medical cannabis import
In collaboration with Solumedics AG, Astrasana Holding AG has initiated the first import of medical cannabis into Switzerland, reports BusinessCann.
The publication highlights that the strategic partnership opens up new market perspectives with regard to the use of medical cannabis products in Switzerland and Europe.
Speaking to BusinessCann, CEO of Astrasana Holding, Yves Antoniazzi, said that the liberalization of the cannabis market creates conditions for committed companies that have done the necessary groundwork.
“Now two companies are coming together that have joint control over all steps from cultivation of the plants to patient care. From our side, in addition to our own customer network, we are primarily contributing extensive know-how in order to offer high-quality raw materials from sustainable production. Solumedics, in turn, supports us with the narcotics license to enable the import of medical cannabis for the first time.”