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Venture capital eyes legal cannabis sector —warily

Posted on April 25th, 2017 by Bill Weinberg and tagged , , , , , , , , , .

leafIt is certainly a sign of the times that a partnership of major California media—led by Bay Area News Group, owner of the San Jose Mercury News—has launched a website entitled The Cannifornian, "Covering the Golden State of Cannabis." That means it's dedicated to reportage on the fast-growing cannabis sector in post-legalization California. An April 25 offering, "Venture capital investors betting big on cannabis," notes that financial consultancy firm New Frontier Data is predicting nationwide legal cannabis sales will balloon to more than $24 billion by 2025.

Sessions pledges crackdown on Latin gangs

Posted on April 21st, 2017 by Bill Weinberg and tagged , , , , , , , .

Shadow WatchAttorney General Jeff Sessions, speaking to the Justice Department's Organized Crime Drug Enforcement Task Force (OCDETF) on April 18, pledged that the Trump administration will have "zero tolerance for gang violence" from "transnational criminal organizations"—particularly singling out MS-13, the Central American narco-network that has its roots on the streets of Los Angeles.

High NY hosts canna-biz networking confab

Posted on March 22nd, 2017 by Bill Weinberg and tagged , , , , , , , , , , , .

New York cannabisThe group High NY, "New York's Cannabis Community," hosted an event on "How to Apply Your Skills in the Cannabis Industry" at a Lower Manhattan venue the evening of March 22, featuring speakers with background in the biz from California, Massachusetts and the District of Columbia. Unlike these three polities, New York state has not legalized. But organizers took heart that on that very same day as their meet-up, chronic pain was added to the qualifying conditions under the Empire State's burgeoning if still limited medical marijuana program.

China launches first CBD research firm

Posted on March 20th, 2017 by Bill Weinberg and tagged , , , , , , , .

ChinaChina is to get its first company dedicated to research, development and marketing of medicinal products based on cannabidiol, or CBD. The firm, dubbed XiBiDi Biotechnology Co, is to operate out of Pudong Technology Park, part of the Shanghai Pilot Free-Trade Zone. It will initially offer hemp-derived CBD oil, as well as hemp-based foods and beverages, according to a press release from ChineseInvestors.com, or CIIX. The Chinese character "XiBiDi" is homophonic to "CBD" in English.

Massachusetts to get country's biggest legal grow

Posted on December 29th, 2016 by Global Ganja Report and tagged , , , , , , , , .

MassachusettsDenver-based AmeriCann is planning to develop what will be the United States' largest medical marijuana facility in Freetown, Mass. At one million square feet, the Massachusetts Medical Cannabis Center is planned for a tract in the Bristol County town formerly slated for a brewery by the Boston Beer Co. Boston Business Journal reports that AmeriCann bought the property this fall for $4.475 million. AmeriCann CEO Tim Keogh said the facility will be "the place in the northeast US for the creation of a wide variety of exciting new advanced products for medical cannabis patients."

Martin Lee speaks on CBD in New York City

medical marijuanaA little New York-California cross-fertilization of herbal consciousness took place as Martin Lee, the author of Smoke Signals: A Social History of Marijuana, spoke in Manhattan's East Village the night of Nov. 10 on "The Future of CBD and Medicinal Cannabis." Lee discussed his current work with California-based Project CBD, dedicated to promoting and publicizing research into the medical uses of cannabidiol, and Emerald Pharms, his CBD-oriented dispensary in Hopland, southern Medocino County. The event was hosted by The Alchemist's Kitchen, a New Age-flavored herbal apothecary—or "botanical dispensary"—on East 1st Street. Under New York state's medical marijuana law, the Kitchen recently launched a Bowery Cannabis Club, which specializes in CBD products.

The cannabis question in Trump's America

BlackLivesMatterThe results of the Nov. 8 elections really indicate the schizophrenic nature of American political culture at this moment. Amid the fear and loathing over the election of the fascistic Donald Trump as president, big gains were registered for cannabis freedom. Voters in California approved Proposition 64, legalizing  up to an ounce for those 21 and older, and allowing individuals to grow up to six plants. The measure also permits retail sales and imposes a 15% tax. Similar measures passed in Massachusetts, Maine and Nevada, bringing the percentage of Americans living in states where cannabis is legal for adults up from five to 20 percent. Only Arizona's Proposition 205 was rejected by the voters.

California: billions seen from cannabis boom —amid dissent

Posted on October 18th, 2016 by Bill Weinberg and tagged , , , , , , , , .

CaliforniaAs Californians prepare to vote on a cannabis legalization initiative, bullish predictions mount of an imminent windfall. The state capital region alone could reap 20,000 jobs and generate $4.2 billion in business if it becomes a hub for a legal cannabis industry, according to a new study by the University of the Pacific in Stockton. Reuters reports Oct. 17 that the study was commissioned by cannabis investment firm Truth Enterprises. "The Sacramento region should be to cannabis what Detroit is to automobiles in terms of both a center of innovation as well as production," said Truth Enterprises partner Daniel Conway. "This region has the ability to be to cannabis what Sonoma and Napa are to wine." Conway is certainly confident. He just left his job as chief of staff to Sacramento mayor (and former NBA star) Kevin Johnson to pursue his future in the cannabis sector.

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