Hemp Farmers Face Prison for .06 THC Crop

LOS ANGELES - July 20, 2020 - PRLog -- In California, the Los Angeles City Council doubles the number of social equity permits for the city's last cannabis retail licensing round from 100 to 200, in response to a lawsuit regarding the process. The April suit, filed by actor-turned marijuana entrepreneur Madison Shockley III, along with the recently-formed Social Equity Owners and Workers Association, sought a redo of the fall licensing round, after some were able to log into the online application system early for the first-come, first-serve permits.

In Missouri, marijuana track-and-trace company Metrc appeals a court decision blocking them from charging MMJ dispensaries service fees for radio-frequency ID tags. The ongoing dispute follows an accusation from rival BioTrackTHC, that the Florida-based company was planning to charge hidden costs after they were awarded the state's 5 million dollar traceability contract last year. Despite assurances from regulators that the contract terms prohibited such fees, Metrc is now arguing they do not.

In finance, Florida-based multistate operator Jushi Holdings raises 17.4 million dollars through a 10 percent debt offering. They plan to use the capital for the 16.3 million dollar cash portion of a previously-announced deal to acquire Vireo Health's Pennsylvania Medical Solutions. It includes a 90,000 square foot cultivation and processing facility in Scranton, as well as the option to purchase equity in another Vireo subsidiary, Pennsylvania Dispensary Solutions, for another 5 million in cash.

In Canada, regulators in the country's Northwestern Territories cut all marijuana product prices by 10 percent in an effort to combat the black market. The government-run Liquor and Cannabis Commission are in charge of legal sales in the territory, through five liquor stores and an online platform. The agency determined the cuts were possible after evaluating operating costs during the two years of Canada's legal adult use program. While private producers in some provinces, such as Canopy and Organigram, have launched discount brands to stay competitive with the illicit market, some are arguing the government monopoly on sales in other areas, like the Northwestern Territories, will only bolster it due to lack of access and competition.

Overseas, Israel becomes the world's largest importer of cannabis flower for the first six months of 2020, at more than 8800 pounds, surpassing former frontrunner Germany, who imported 6600. Decriminalization reforms last year, as well as a lack of domestic marijuana led the country to relax import restrictions, such as the GMP-certification requirement, in comparison to other EU countries. Ongoing agreements are leading industry experts to predict an even higher increase in imports for the second half of the year, which could decline later on as domestic production ramps up.

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