While the early Prop 215 market in California barely resembles today’s industry, it’s important to remember where we came from. Namely, our understanding of the contemporary cannabis business results from everyone who came before us. As the industry progresses, we will continue to complement established best practices with the requisite innovations that come with new opportunities.
Over the long run, compliance is key to tracking the consistency and safety of products to avoid long-term liability and costs on consumers. Consumers would be wise to gravitate towards compliant brands and companies that focus on consistent quality and safety to minimize potential long-term negative impacts and costs.
This high-level overview should provide some considerations for license holders to think about as they work with advisors to make entity selection decisions or tax elections. Then we’ll take a look at some of the major advantages and disadvantages for C-corporations and S-corporations.
In November 2020, Arizona voters approved Proposition 207, ushering in a new adult use cannabis program, placing Arizona among the 13 fully-legalized cannabis states in 2021. In Arizona, the existing medical cannabis license holders will have the first opportunity to apply for and acquire an adult use license, operating as dual licensed dispensaries in the new Arizona market.
This article takes a comprehensive look at the overall importance and requirements of designing secure buildings for this high-value, at-risk industry and explores how to design them in a way that will protect not only the material assets within the building, but more importantly provide safety, security, and peace of mind to occupants.
Cannabis businesses continue to grow even though conflicting state and federal laws cause major challenges. The COVID-19 pandemic simultaneously advanced and pushed back the growth of the cannabis industry, and security and risk management remained a top priority for business owners and operators across the country. R&D on extraction moves into the spotlight as businesses seek cutting-edge techniques to increase yields, giving them a competitive advantage.
The two companies merging forms the world’s largest cannabis company worth over $3.9 billion. Tilray’s stock climbed 21% earlier this week following the announcement. Aphria shareholders will own 62% of the company.
Praxis Laboratory had their license suspended earlier this month for inflating numbers on potency test results, giving samples higher THC levels than the state actually found.
Major changes have occurred at the international level on cannabis in the last month. But what do they really mean going forward? And how do such decisions also interact with regional case law? Find out these answers and more in this year’s 2020 legislative and legal global cannabis roundup.
In the 15th episode of the 2020 Cannabis Quality Virtual Conference, check out “Creating an Industry-Wide Standard for CBD Quality and Efficacy” and “Heavy Metals in Hemp Extract Products.”
