Tennessee Marijuana News

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Illinois marijuana dispensaries sold more than $47.6 million worth of products in June, according to the Illinois Department of Financial and Professional Regulation.

During that time, 994,545 items were sold, averaging almost $48 per purchase, not including taxes. Tax figures will be released later this month by the Illinois Department of Revenue.

The state most recently received $12.5 million in marijuana taxes and associated sales taxes in May, according to IDOR. That brings the state’s tax collections from marijuana legalization to $52.7 million for the five months of operation. That’s well above the $28 million estimated in this year’s budget, which ended June 30.

Towns and counties that allow marijuana sales began adding their own taxes at the beginning of this month for the first time, which will generally increase the purchase price between 3% and 3.75%.

Since legalization began…

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Bud Digest

If you thought the stock market has been on a wild ride in 2020, pan out a bit and take a gander at the volatility that marijuana stock investors have contended with over the past couple of years. Through March 2019, you could practically have thrown a dart at a list of cannabis stocks and come out a winner. However, over the past 15 months, most pot stocks have lost half or more of their value.

As is the case with all next big thing investments, the industry needs time to mature. The good news, though, is that there is light (and plenty of green) at the end of the tunnel for cannabis stocks.

Perhaps what’ll truly vindicate marijuana as a viable investment opportunity is a publicly traded pot stock generating $1 billion in annual sales. While our neighbors to the north have their work cut out, there are three pot stocks focused on the U.S. market that do have the potential to reach $1 billion in annual sales within the next couple of years. The question is, which cannabis stock gets there first?

GW Pharmaceuticals

If the definition of “cannabis stock” includes a company whose….

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Israel is among the world’s leaders in the medical and non-medical cannabis research and development (R&D). Israeli scientists made breakthrough discoveries in the mid-twentieth century, paving the way for the country being one of the early adopters of a medical cannabis program. Now, Israel is gearing up to legalize recreational cannabis and export cannabis across the globe and become one of the leading nations in the global cannabis trade. In this post, I briefly examine the history of cannabis in Israel and what the future may hold for the country.

While cannabis has been used for thousands of years in ancient sites in Israel, the country’s developments in the last few decades have been extremely significant. In the 1960s, Israeli chemist Raphael Mechoulam began making breakthroughs in researching cannabis, becoming the first researcher to isolate the THC compound. Fast forwarding a few decades, in the 1990s, the Israeli government began researching and studying potential reforms for cannabis in Israel.

Cannabis in Israel has long been regulated under the Dangerous Drugs Ordinance as a dangerous drug (sort of like cannabis in the US and the Controlled Substances Act). Nevertheless, the first medical cannabis authorizations were allowed in Israel in the

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A cross-party group of MPs has written to Health Secretary Matt Hancock demanding action.

Health Secretary Matt Hancock was tonight urged to tear up red tape campaigners say is hampering prescriptions of medical cannabis for children with rare epilepsy.

There have been no new NHS prescriptions for full-extract cannabis oil since the medicinal use of the drug was legalised more than 18 months ago, it emerged this month.

Experts say strict guidelines make it difficult to get hold of the treatment on the NHS.

– Read the entire article at Mirror.

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The Canadian cannabis sector was absolutely savaged in 2019 as fundamental issues with demand and sky-high expectations from retail investors collided.

With the hot air largely out of Canadian cannabis stocks by year-end, investors started buying many of the beaten-down names in early 2020 expecting the next few months to be the bottom before a multi-year uptrend began.

Things haven’t worked out as expected so far and with the release of new data from Health Canada, we now know why.

– Read the entire article at Grizzle.

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On Wednesday, July 8, 2020, a bipartisan group of sixteen state treasurers, led by Oregon Treasurer Tobias Read, sent a letter to congressional leaders requesting that the next piece of COVID-19 relief legislation include the SAFE Banking Act.

The letter prominently cites both the well-known and new safety issues that come into play when forcing so many to operate on a purely cash basis:

This provision would not only address new safety issues created by the COVID-19 crisis, but also those caused by the existing conflict between federal  and state cannabis laws. The 28,000 cannabis related legitimate businesses and their 243,700 employees, who already faced significant burdens before the pandemic, are now confronting dangerous new obstacles as they attempt to address the changed circumstances. To keep workers, patients and consumers safe, it is essential that we reduce the use of cash by creating access to financial services for these state-licensed businesses.

Those new obstacles include forcing cannabis businesses and users to continue engaging in all-cash transactions without the option of “no-contact exchanges” – which obviously gives cause for concern given CDC and WHO guidance that suggests the coronavirus can live on surfaces for extended periods of time.

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Elise McDonough, an eighteen-year veteran of the cannabis industry, is one of the first people who took the time to dig a bit deeper into my nascent background in cannabis. After all, she interviewed me for High Times back when my book Cannabis Cocktails was launched. Her ready smile and deeply journalistic skills put me at ease, and I’ll always be appreciative of her efforts on my behalf. She, too, is an author — check out her Bong Appétit cookbook from Vice, The Official High Times Cannabis Cookbook and Marijuana for Everybody!. Recently, I discovered that Elise has created a new chapter in her life. She is now a Brand Manager at CannaCraft, responsible for confections marketing within California’s largest cannabis company, dipping into her knowledge base with everything she has at her disposal. She epitomizes the term class act.

Warren Bobrow: You’ve had a fame filled career in cannabis, and I see you have an important job with CannaCraft— What ambitions do you have with your new role?

– Read the entire article at Forbes.

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Second Cup Ltd.’s parent company has opened its first recreational cannabis dispensary.

Mississauga, Ont.-based Aegis Brands says it welcomed guests to a Hemisphere Cannabis Co. location on Avenue Road in mid-town Toronto today.

The location was previously home to a Second Cup and will be joined by six more dispensaries Aegis has planned to open in Toronto, Orleans, Ont. and Ottawa in the coming months.

Second Cup said in 2018 that it has more than 130 locations across Ontario that it plans to leverage to enter the cannabis space.

– Read the entire article at CP24 News.

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