The Associated Press

Saturday Jul 14, 2018 at 12:01 AM

OKLAHOMA CITY — Civil lawsuits have been filed in two Oklahoma counties accusing state health officials of improperly imposing strict rules on the state’s recently approved medical marijuana industry.

Separate lawsuits were filed Friday in Cleveland and Oklahoma counties over the policies that were adopted this week by the State Board of Health and then quickly approved by Republican Gov. Mary Fallin.

The board of Fallin appointees voted 5-4 on Tuesday to approve a ban on the sale of smokable marijuana and requiring pharmacists at dispensaries, infuriating activists who had worked for years to get medical marijuana on the ballot. The measure passed June 26 with nearly 57 percent of the vote.

Interim Commissioner of Health Tom Bates said Tuesday his office anticipated legal challenges and was prepared to defend the new rules.

Read More Here...

Nevada’s tax income is on a hot streak, with increases in tax revenue from traditional sources, like sales tax, as well as from less traditional ones, like marijuana. Nevada Department of Taxation Director Bill Anderson appeared on this week’s episode of Face the State to discuss the numbers.

The majority of the state’s income comes from sales tax, and Nevada has seen an increase month over month in taxable sales for 94 straight months.

“What we are seeing right now is really an unprecedented run-up in taxable sales,” Anderson said. “I think that’s reflective of the broad-based strength in the economy as a whole.”

If you do the math, that’s nearly eight years of continuous growth in taxable sales. And that’s important, because sales tax revenue makes up about two thirds of the state’s total revenue, most of which then gets redistributed to the counties and cities to pay for their expenses.

Anderson also discussed the tax incentives that the state has been using to attract businesses like Tesla, and whether Nevada is still coming out on top, even with the lost tax income.

“When we look at the overall picture,” Anderson said, “the positives right now obviously outweigh the negatives.”

To see the full interview, including a discussion of the new marijuana industry’s tax revenue, tune in for Face the State this weekend. It airs Saturday at 4:30 a.m. and 3:30 p.m., and on Sunday at 6:30 a.m. and 3:30 p.m.

Read More Here...

When two-time World Series of Poker bracelet-winner Michael Mizrachi signed a six-figure deal with cannabis dispensary Blüm this summer, neither Mizrachi nor Blüm executives thought it would land the two parties in hot water.

‘Nobody had a problem with’ the Blüm logo until the WSOP Main Event hit ESPN last week.

After cruising to his third-ever WSOP bracelet at Las Vegas’ Rio Casino & Hotel last month – and a $1.24 million paycheck – Mizrachi, 37, smiled as he posed for a championship photo next to his chip stack, proudly displaying the dispensary’s logo on the chest of his black collared shirt.

“Nobody had a problem with it,” he said.

For the nationally-televised WSOP Main Event, which started July 2, Mizrachi and Blüm agreed to move the dispensary logo from his chest to the front of his hat, where it’d be more visible to an estimated 615,000 daily viewers watching the tournament on ESPN and hundreds of additional viewers in attendance.

Where’d the Logo Go?

But after just three days, during a July 5 evening break in the main event poker tournament, Mizrachi was confronted by a tournament official.

Mizrachi and hat in action.

His cannabis advertisement had to be concealed as part of the host venue’s “no-tolerance” policy toward marijuana, the official said.

Blüm Director of Operations Mikel Alvarez watched the drama unfold on a live stream from one of the company’s three Las Vegas dispensaries.

Alvarez, who oversees Blüm’s four stores across Nevada in addition to its two locations in California, was shocked to see his client – after weeks of representing the company – suddenly wearing the Blüm hat backward with a piece of duct tape over the logo for which they had paid the poker player so handsomely.

“All of a sudden when they came

Read More Here...

VANCOUVER, British Columbia, July 13, 2018 — / D.M.O. Newswire / —  CROP Infrastructure Corp. ( CSE:CROP ) ( OTC:CRXPF ) (“CROP” or the “Company”) announces that its tenant grower “The Hempire Company, LLC” has been issued a formal Nevada hemp licence covering all 240 pivoted acres of CROP’s Nye County, Nevada farm. Planting has been completed on 120 acres and is now underway on an additional 120 acres, consisting of only approved organic and natural materials in agriculture production in order to be deemed an Organic operation.

The Nye County agricultural Hemp farm is located in central Nevada and was selected for its temperate climate which is ideal for greenhouse and outdoor growing. The property totals over 315 acres and includes 300 acres of private water rights, with 240 acres under automatic irrigation pivots that also have automatic fertilizer injection systems installed.

The genetics selected, BaOx and Cherry BaOX have a THC content of <0.3% and a CBD content of >15%. It is estimated that the 240 acre pivots will yield 240,000 pounds of hemp flower. Cost of production is not expected to exceed $700,000 USD.  The first harvest is expected in early Q4 this year.

Nevada hemp growers surveyed by Marijuana Business Daily report that the market is fetching:

$200 or more per pound for flower, depending on CBD content and quality

Approximately $10 per pound of food-grade seed, or $45 per gallon for seed oil

Approximately $200 per ton of baled fiber

Approximately $10,000 per Kg of CBD isolate

CROP Infrastructure Director and CEO, Michael Yorke stated: “Our licensed tenant Hempire has doubled the planned hemp growing acreage from 120 acres to 240 acres for the last crop of the 2018 season.  This is great news for our fourth

Read More Here...

NEW YORK, July 13, 2018 /PRNewswire/ —

According to data published by Marijuana Business Daily, cannabis retail sales continue to grow year-over-year, as new markets emerge, and more states legalize medical and recreational cannabis. Sales this year alone are expected to increase by about 50% when compared to 2017, meaning sales value is on track to reach USD 8 Billion – USD 10 Billion by the end of this year. The data also estimates that by 2022, annual retail sales of cannabis products in the United States may cross the USD 20 Billion mark, representing a 200% increase from 2017. As for the economic influence that the new budding market is likely to have, the report projects an estimated USD 28 Billion – USD 34 Billion in economic impact this year. CLS Holdings USA Inc. (OTC: CLSH), mCig Inc. (OTC: MCIG), MPX Bioceutical Corporation (OTC: MPXEF), United Cannabis Corporation (OTC: CNAB), Future Farm Technologies Inc. (OTC: FFRMF)

As a result of the strong sales figures across the industry, investments in cannabis are piling up. A report by Business Insider indicates that, “Venture-capital investors from around the world spent USD 355 Million on 100 marijuana-industry deals in 2017, and 2018 is on pace to break last year’s record. By the end of February, there were 19 venture-backed deals in the industry worth USD 176 Million alone, and that doesn’t factor in the money investors have poured into hedge funds set up to take advantage of the budding industry.”

CLS Holdings USA Inc. (OTCQB: CLSH) just yesterday provided, “an update to the first complete year of adult use cannabis in Nevada, the first state the Company is operating in. According to the Nevada Department of Taxation, marijuana flower/bud accounted for roughly 50% of all combined medical and adult-use marijuana purchases by consumers in Nevada, followed by concentrates at about 25% and infused edibles

Read More Here...

IRVINE, Calif., July 12, 2018 (GLOBE NEWSWIRE) — Terra Tech Corp. (OTCQX:TRTC), (“Terra Tech” or the “Company”), a vertically integrated cannabis-focused agriculture company, is pleased to announce it has agreed to sell 100% of the assets of its cannabis dispensary located at 1921 Western Avenue in Las Vegas, to Exhale Brands Nevada, for a total consideration of $6,250,000.

Located adjacent to the Las Vegas Strip, the 3,900 square foot facility for the Western Avenue dispensary was initially opened by Terra Tech in April of 2015. Terra Tech is confident that a sale is the best way to realize value for shareholders, given the significant increase in value the property has seen since it was purchased by the Company.

Terra Tech retains a significant, focused presence in the Nevada market, to which it remains committed. The Company operates its Blüm, Desert Inn Road and Blüm, Decatur Boulevard dispensaries, both of which are located in Las Vegas, as well as its Blüm Reno dispensary, in Northwest Nevada. The Company also recently opened a new, 30,000 square foot cultivation facility in Sparks, Nevada and is awaiting State approval for a 15,000 square foot extraction lab in Reno, Nevada, both of which it owns 50%, which is expected to drive a ramp in production of its premium quality cannabis for the medical and adult-use markets.

As owners of medical and adult-use cannabis business licenses in Las Vegas associated with these dispensaries, the Company has the ability to apply for additional licenses based on its grandfather status. The company will be pursuing additional permits in new locations with better proximity to major tourist attractions in Las Vegas.

Derek Peterson, CEO of Terra Tech, commented, “The valuation of the Blüm Western Avenue location has increased significantly since the store opened, driven primarily by our ability to

Read More Here...

Terra Tech Corp. Announces Sale of Western Avenue, Nevada Retail Dispensary for $6.25 million

IRVINE, Calif., July 12, 2018 (GLOBE NEWSWIRE) — Terra Tech Corp. (OTCQX:TRTC), (“Terra Tech” or the “Company”), a vertically integrated cannabis-focused agriculture company, is pleased to announce it has agreed to sell 100% of the assets of its cannabis dispensary located at 1921 Western Avenue in Las Vegas, to Exhale Brands Nevada, for a total consideration of $6,250,000.

Located adjacent to the Las Vegas Strip, the 3,900 square foot facility for the Western Avenue dispensary was initially opened by Terra Tech in April of 2015. Terra Tech is confident that a sale is the best way to realize value for shareholders, given the significant increase in value the property has seen since it was purchased by the Company.

Terra Tech retains a significant, focused presence in the Nevada market, to which it remains committed. The Company operates its Blüm, Desert Inn Road and Blüm, Decatur Boulevard dispensaries, both of which are located in Las Vegas, as well as its Blüm Reno dispensary, in Northwest Nevada. The Company also recently opened a new, 30,000 square foot cultivation facility in Sparks, Nevada and is awaiting State approval for a 15,000 square foot extraction lab in Reno, Nevada, both of which it owns 50%, which is expected to drive a ramp in production of its premium quality cannabis for the medical and adult-use markets.

As owners of medical and adult-use cannabis business licenses in Las Vegas associated with these dispensaries, the Company has the ability to apply for additional licenses based on its grandfather status. The company will be pursuing additional permits in new locations with better proximity to major tourist attractions in Las Vegas.

Derek Peterson, CEO of Terra Tech, commented, “The valuation of the Blüm

Read More Here...

IRVINE, Calif., July 12, 2018 (GLOBE NEWSWIRE) — Terra Tech Corp. (OTCQX:TRTC), (“Terra Tech” or the “Company”), a vertically integrated cannabis-focused agriculture company, is pleased to announce it has agreed to sell 100% of the assets of its cannabis dispensary located at 1921 Western Avenue in Las Vegas, to Exhale Brands Nevada, for a total consideration of $6,250,000.
Located adjacent to the Las Vegas Strip, the 3,900 square foot facility for the Western Avenue dispensary was initially opened by Terra Tech in April of 2015. Terra Tech is confident that a sale is the best way to realize value for shareholders, given the significant increase in value the property has seen since it was purchased by the Company.  Terra Tech retains a significant, focused presence in the Nevada market, to which it remains committed. The Company operates its Blüm, Desert Inn Road and Blüm, Decatur Boulevard dispensaries, both of which are located in Las Vegas, as well as its Blüm Reno dispensary, in Northwest Nevada. The Company also recently opened a new, 30,000 square foot cultivation facility in Sparks, Nevada and is awaiting State approval for a 15,000 square foot extraction lab in Reno, Nevada, both of which it owns 50%, which is expected to drive a ramp in production of its premium quality cannabis for the medical and adult-use markets.As owners of medical and adult-use cannabis business licenses in Las Vegas associated with these dispensaries, the Company has the ability to apply for additional licenses based on its grandfather status. The company will be pursuing additional permits in new locations with better proximity to major tourist attractions in Las Vegas.Derek Peterson, CEO of Terra Tech, commented, “The valuation of the Blüm Western Avenue location has increased significantly since the store opened, driven primarily by our ability to secure a business

Read More Here...

LAS VEGAS (AP) — Federal law officers have seized more than 4,000 marijuana plants at a growing operation in Death Valley National Park thanks to a tip from hikers in the area along the California-Nevada line.

Rangers for the National Park Service and Bureau of Land Management raided the site July 3 after the hikers encountered three men installing irrigation hose near a spring in the Mojave Desert’s Hanaupah Canyon.

The hikers thought the men were working on a park project but when they asked what they were doing, one told them they were growing marijuana. He reportedly said, “You won’t tell the cops, will you?”

No arrests have been made.

Park Superintendent Mike Reynolds says even though California and Nevada have legalized recreational marijuana, it remains illegal at the federal level. He says grow sites decimate vegetation around springs and poison wildlife.

Read More Here...

Total Sales and Tax Revenue Higher than Initial Forecasts

LAS VEGAS, July 12, 2018 (GLOBE NEWSWIRE) — CLS Holdings USA, Inc. (OTCQB:CLSH) “CLS,” a diversified cannabis company operating as Cannabis Life Sciences and a fully licensed integrated cannabis producer and retailer in Nevada, today is pleased to provide an update to the first complete year of adult use cannabis in Nevada, the first state the Company is operating in.

According to the Nevada Department of Taxation, marijuana flower/bud accounted for roughly 50 percent of all combined medical and adult-use marijuana purchases by consumers in Nevada, followed by concentrates at about 25 percent and infused edibles at 13 percent.  Oasis Cannabis announced that packaged marijuana flower/bud and pre-rolled joints represented 67 percent of the total sales, followed by concentrates at 20 percent and infused edibles at 9 percent.

The co-founder of Oasis Cannabis, Ben Sillitoe commented on the sales mix, “Convenience items like disposable vapor pens and pre-rolled joints are very popular with our tourist customers and together they make up about 25% of total sales at Oasis.”

Oasis Cannabis served over 127,000 customers in its 1st year of adult-use sales. About 13% of those orders and 22% of total sales were to medical patients. The average order from a medical customer was $73 whereas a typical recreational customer spent $41 per order. “A medical patient will typically consume more cannabis than an average retail customer, so we expect to see larger average purchases from that group,” explained Sillitoe.

Home deliveries made up 5 percent of the total orders and 11% of total revenue, reflecting a higher average order of $98 versus $42 from in-store customers. The average delivery order from a medical customer was $114 and the average delivery to a recreational customer totaled about $87. “Medical customers make up about

Read More Here...