HOME CANNABIS CULTIVATION
Washington lawmakers approve bill to allow home cannabis cultivation
A bill to allow Washington State adults to grow cannabis at home cleared its first legislative hurdle on Thursday, passing out of the House Regulated Substances and Gaming Committee on a seven to four vote, reports Marijuana Moment.
The bill will enable:
- People 21 and older can grow up to six plants for personal use.
- A maximum of 15 plants per household.
- Plants would need to be labeled, grown out of public view and not “readily smelled” outside the premises.
- Landlords could prohibit homegrow by renters and lessees under the bill.
- Fine of up to $500 if a minor uses or obtains a grower’s cannabis (unless the products were stored in a secured area or container).
- If a minor is involved in a DUI after consuming unsecured cannabis, the grower would face a fine of up to $750.
BUSINESS OF CANNABIS: NYC SESSIONS
New York 2033: The next 10 years in New York
Only 1 week left until Business of Cannabis NYC Sessions relaunch on 23 February.
NYC Sessions is an ongoing series to dive deep into the social implications, regulatory hurdles and business opportunities in New York’s emerging cannabis industry. This month’s event is brought to you and the New York cannabis business community by Business of Cannabis, in collaboration with our partners, Leafly and Lucid Green.
We have now finalised our speaker line up! On 23 February, we will be joined by:
- John Kagia – Director of Policy, New York Office of Cannabis Management
- Jessie Young – Global Lead, New Verticals, Uber
- Bruce Barcott – Senior Editor, Leafly
- Paul Botto – Co-founder and President, Lucid Green
- Calvin Stovall – East Coast Editor, Leafly
There are still limited tickets remaining for next weeks event, secure yours here.
CANADA’S FEDERAL CANNABIS FEES
Canada’s federal cannabis fees ‘make industry unsustainable’, group says
MJ Biz Daily reports that Canadian cannabis executives are pleading with the federal government to offer relief to the fee and excise regime it imposes on the industry amid mounting job and financial losses.
With the industry seeing almost 1,000 job cuts already in 2023, George Smitherman, CEO of the industry group Cannabis Council of Canada, suggested that there should be an easing in the regulatory fee.
Mandesh Dosanjh, CEO of Pure Sunfarms in British Columbia, also stated: “We are an industry consistently overlooked. A sector subject to crushing taxes and enormous regulatory burdens, and for producers who can afford to pay these taxes and fees, there’s nothing left over to invest back in our businesses.”
AURORA CANNABIS EARNINGS REPORT
Aurora cannabis prepares for global legalization wave, analyst’s thoughts post Q2 earnings
Benzinga writes that Cantor Fitzgerald’s Pablo Zuanic took a closer look at Aurora’s earnings report and quarterly performance, highlighting that cash burn “remains a concern,” while “lower interest costs (debt paydown) and better working capital management will likely help OCF trends going forward.”
Zuanic highlights that the company is preparing for a recreational sales launch in Germany, which is anticipated by spring 2025, and is seeing “the possibility of a “pilot program” in the early stages.”
In addition to expanding internationally, the company is seeking to position itself in an adjacent business line, given its recent acquisition of a controlling interest in Bevo, a supplier of propagated vegetables and ornamental plants in North America.