In this week’s edition:
Cannabis CEOs discuss pricing license values, branding and the economy at our May 7 Globalization of Cannabis webinar SAFE Banking Act included in House’s COVID-19 relief bill Maine to drop residency requirement for cannabis businesses Florida now accepting hemp license applications New Zealand publishes final draft of Cannabis Legislation and Control Bill And more… Federal
Marijuana Banking Access Included in House Leadership’s Coronavirus Relief Bill – The House of Representatives has included in its latest COVID-19 legislation language from the Secure and Fair Enforcement (SAFE) Banking Act that would allow state-legal cannabis businesses to access more banking services and products. Additionally, the bill includes language that could help people with prior convictions to become eligible for the SBA’s Paycheck Protection Program (PPP). However cannabis businesses, most of which have been deemed “essential businesses” during the pandemic, did not get any legislative fix to their ineligibility under the SBA’s policies.
One Doctor vs. the DEA: Inside the Battle to Study Marijuana in America – Scientists have successfully forced the Drug Enforcement Administration to release an internal document that was allegedly used to justify delaying the approval of additional cannabis manufacturers for research purposes. The 2018 memo raised questions about the existing arrangement with the University of Mississippi, and whether it was in compliance with international treaties (determining ultimately, that it was not). Read the memo here.
CA – A study conducted in California found that “the loss of cannabis that must be destroyed if a batch fails testing accounts for a larger share of total testing costs than does the cost of the lab tests,” estimating that, in 2019, assuming an average batch size (8 pounds) and failure rate (4 percent), testing cost $136 per pound of dried cannabis flower, or about 10 percent of the