Cannabis Industry News

According to state law, the tracking system is required to provide “Data points for the different stages of commercial activity, including, but not limited to, cultivation, harvest, processing, distribution, inventory, and sale.” It’s also intended to help the state keep track of taxes. California’s electronic monitoring system is seeing just fragments of the legal market - not the rigorous seed-to-sale oversight envisioned when voters approved Proposition 64, the law that opened the way for broad legal sales.

A clearer timeline for the complete implementation of Washington state’s cannabis traceability system, Leaf Data Systems, is beginning to emerge after more than a year and a half of delays and setbacks. Meeting for the first time since January, the Washington State Liquor and Cannabis Board Traceability Advisory Committee rescheduled the latest update, version 1.37.5 from June 14 to July 1. The process to implement a new seed to sale traceability system in Washington has been plagued with problems since 2017 when long-time vendor Bio Track THC’s contract was not renewed by the LCB.

SAN DIEGO - When California voters legalized recreational marijuana, they were told there would be a system to track and trace every legal marijuana product. Greg Magdoff, who owns PharmLabs, a cannabis testing lab in the Morena District said he doesn’t understand why the State has been so slow to implement the tracking system. Lincoln Fish, the CEO of Outco, a cannabis company near El Cajon said without a tracking system, the State is losing tax revenue.

Senate Majority Leader Mitch McConnell toured a Kentucky hemp company on Tuesday-the latest victory lap for the senator, who is hoping his role in federally legalizing the crop through last year’s Farm Bill will turn out voters to support his 2020 reelection bid. In the last week, McConnell has gone to great lengths to tout the hemp legalization provision of the 2018 Farm Bill. “Kentucky is making a hemp comeback thanks to the tireless work of Senator McConnell,” Matty Mangone-Miranda, CEO of GenCanna, said.

The state Office of Medical Cannabis is getting things into place with plans to move forward once a financial institution is hired. “The banking institution will house the Medical Cannabis Fund that will be a home for the permitting fees and taxes derived,” Jason Frame, director of the West Virginia Office of Medical Cannabis, told MetroNews. The Medical Cannabis Act, approved by lawmakers in 2017, allows cannabis to be used for certified medical use by state residents with a serious medical condition.

The West Virginia State Treasurer’s Office on Thursday released a request for proposal related to the search for a financial institution responsible with handling money related to the state’s medical cannabis law. Financial institutions must provide the office with deposit, disbursement and receipt processes related to the sale and other functions of the medical marijuana law. State lawmakers had hoped to have the medical cannabis program operational by July 1.MetroNews Staff.

Lawmakers and staffers watched speakers discuss issues such as diversity in the legal cannabis industry, the long-term consequences of criminalization and barriers to accessing medical marijuana. The panel is “Another indication of how seriously that Dems are taking the issue around marijuana reform and their centering of marijuana reform having to be a conversation that’s broader than just descheduling,” Queen Adesuyi, policy coordinator at the Drug Policy Alliance and one of the event’s speakers, told Marijuana Moment.

PRNewswire/ - Helix TCS, Inc., through its leading seed to sale software and cannabis point of sale subsidiary, BioTrackTHC, has been awarded a one-year contract extension with the State of Hawaii. Cannabis traceability system 72 days later, the first known government cannabis tracking system to be deployed in a FedRAMP authorized cloud-hosting environment. About Helix TCS, Inc.BioTrackTHC is a wholly-owned subsidiary of Helix TCS, Inc. Helix TCS, Inc. is a leading provider of critical infrastructure services, helping owners and operators of licensed cannabis businesses stay competitive and compliant while mitigating risk.

Voting on a bill seeking to legalize recreational marijuana use by adults could happen as early as Wednesday after senators debated and approved about a dozen amendments to the measure until about 7:35 Tuesday night. “Why don’t we just put all kinds of fees on this bill and basically kill the bill? If that’s the intent then don’t kid us. If you’re gonna support the bill then support it for its intent.

You must keep records of everything for at least seven years, and you must report certain events within hours or days. You must report a revocation of a local license or permit within 48 hours. You need not report changes to your operating procedures until you renew, but you must report changes to your trade name, legal name, ownership, or financial information within fourteen days. You must record all commercial cannabis activity in the state’s online track-and-trace system within 24 hours.

TRENTON, N.J. - Lawmakers are poised to vote on making New Jersey the 11th state to legalize recreational marijuana. New Jersey would join the District of Columbia and 10 other states with legalized recreational use of the drug for adults if the vote succeeds. The measure calls for setting up a five-person cannabis regulatory commission, which would set the ground rules and oversee marijuana regulation in New Jersey. Medical marijuana in New Jersey is currently subjected to the state’s 6.

A community discussion will happen next week to put a marijuana cultivation center in the Eastfield Mall. Now, the Eastfield Mall in Springfield may expand their options to include a retail marijuana shop. At the Eastfield Mall, empty store fronts are an unfortunate and common sight, but the mall is always working to bring more business in. That’s why David Mech of Cannaworld hopes to open a marijuana cultivation and recreational facility in the large vacant spot where Macy’s once stood.

State auditors found frequent discrepancies between the amount of sales that are logged into the seed-to-sale tracking software METRC, and those reported on state tax returns. “Inaccurate entry, confusion over batching and tagging during the program’s rollout and destruction of unusable marijuana are likely responsible [for] a vast majority of the discrepancy between Department of Taxation sales data and METRC data,” association representatives wrote, emphasizing that auditors uncovered no instances of diversion to the illegal market in their review.

John Hickenlooper, the former governor of Colorado and a current Democratic presidential candidate, says that the federal government shouldn’t stop states from decriminalizing drugs like heroin and cocaine or allowing for supervised consumption facilities where people can inject illegal substances more safely. Hickenlooper didn’t immediately answer the question and instead talked about the failure of the war on drugs in general. “Would you decriminalize harder drugs than pot?” Smith asked. Smith pressed again and asked if the former governor thinks the federal government should be allowed to tell states that they can’t decriminalize heroin or cocaine.

“Perhaps the major consequences has been millions of young people, generally from communities of color from lower income communities, have not only gone to prison but they’ve been made felons. I think that has made lives unbelievable harder for people that we should’ve been trying to lift up.” Smith pressed again and asked if the former governor thinks the federal government should be allowed to tell states that they can’t decriminalize heroin or cocaine.

New Jersey Governor Phil Murphy on Tuesday reached an agreement in principle with Democratic lawmakers for the state to potentially become the second in the country to legalize the recreational use of cannabis though legislation. New Jersey is among more than 30 states that allow marijuana for medical use. Last year, Vermont became the first state in the United States to legalize weed for recreational use through state-level legislation. Legislators in New Mexico are considering a bill to legalize adult use of pot and create the nation’s first state-operated stores for selling weed.

While the Senate recommended certain modifications to the legal cannabis proposal first introduced by Gov. Andrew Cuomo, the Assembly’s resolution seemed to approach the issue with less urgency. That stands in contrast to the governor’s proposal, which bans home growing of recreational cannabis in line with the wishes of a New York-based medical cannabis industry association as detailed in a memo that Marijuana Moment obtained through a public records request. Instead, the chamber “Proposes to continue discussion with the Executive and the Senate to provide for the regulation of hemp-derived cannabis products, to expand the existing medical cannabis program and to provide for the regulation of cannabis and cannabis products for adult-use.

Canopy Growth to partner with Martha Stuart on CBD Canopy Growth Corp. has further expanded its hemp-derived CBD footprint, this time signing TV host Martha Stewart “To advise the company” on CBD products. Facebook to lighten up on weed Facebook is currently weighing whether to change its rules related to the promotion of marijuana, saying, “Our policies at the moment do not allow for the sale of marijuana on the platform.

PRNewswire/ - Helix TCS, Inc., through its leading seed to sale and cannabis point of sale subsidiary, BioTrackTHC, has been awarded a 2-year contract extension with the State of Delaware. “As more states and countries launch medical cannabis programs, and the real, beneficial outcomes of those programs are understood, medical programs often then evolve into adult-use programs, and Helix TCS is ideally positioned to support this transition to ensure that it is safe, transparent, and efficient,” said Zachary L.

DENVER, Feb. 28, 2019 - via OTC PR WIRE - Golden Developing Solutions, Inc., an emerging leader in the Cannabis, Hemp, and CBD marketplace, is thrilled to announce that its Where’s Weed division has entered into a strategic partnership with FlowHub, one of the largest and fastest growing point-of-sale systems in the cannabis industry, with over $1 billion in cannabis transactions processed annually across eleven states. Management notes that this partnership carries the potential to allow Where’s Weed users to access real-time updated inventory levels for cannabis products across the entire massive FlowHub member network of dispensaries, vastly increasing the utility of the Where’s Weed portal and app.

Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: that laws and regulations may become more onerous; the ability of the Company to obtain necessary financing; the economy generally; the future growth, results of operations, performance and business prospectus and opportunities; changes in and the effect of government policies; demand for products; competition; anticipated and unanticipated costs; reliance on management; claims and legal proceedings; conflicts of interest; and market price and volatility of the Common Shares.

The bill has not yet been assigned to a committee by House Speaker Mitzi Johnson, though Rep. Sarah Copeland-Hanzas of Bradford said it is likely to come before the House Committee on Government Operations, which she chairs. The House’s Committee on General, Housing and Military Affairs is holding on to H. 196, a separate tax and regulate bill, authored and introduced by Young and cosponsored by more than a third of the House’s membership.

He is a partner in Freedman & Koski, the Colorado firm that initially lost and then won a $189,000 consulting contract to write Maine’s marijuana regulations that map out how the state will oversee key marijuana issues, such as a track-and-trace inventory system. In December, Maine awarded the consulting job to BOTEC, but Freedman & Koski appealed, claiming the state had unfairly scored the contract and failed to give it credit for partnering with a local firm.

Government medical cannabis traceability system that will track and trace the state’s entire medical cannabis supply chain for compliance and regulatory oversight. As the leading provider of seed to sale tracking and point of sale software to the legal cannabis industry, BioTrackTHC currently holds 9 government cannabis traceability contracts across 7 states, the city of Arcata, CA., and Puerto Rico. “As legal cannabis programs take shape, implementing sound and proven cannabis tracking technology, on time and on budget, with the required functionality and security, is essential to ensuring patient safety and allowing the industry to operate effectively,” said Zachary L.