We hope you enjoy this edition of Cannabis Business Weekly Review and Newsletter, where we cover a range of pertinent, cannabis industry topics.
All that and more in this week’s Cannabis Business Weekly Newsletter.
According to Nicola Dowling from the CTA: “Victim of ignorance or savvy profiteer? If you believe Mark Rivers, he didn’t know any better. After reviewing all the information at hand, the more cynical amongst us may suspect he willingly tried to pass off illegal products. Already known to the police for selling Class B synthetic cannabinoids, he continued to sell formerly legal highs long after they were banned.”
Following the Elavon/Visa issues from June, cannabis companies have been scrambling to find a way to sell their products online. But that struggle seems to be coming to an end now with ViaBill. Many major names – especially companies selling CBD flowers like Secret Nature, Plain Jane, and Tweedle Farms – are turning to ViaBill too keep their customers happy and business operations running smoothly.
Although British politicians rarely agree on anything, they seem to have surprisingly reached a tri-partisan agreement regarding cannabis legalization in the UK. One Labour party representative, David Lammy, even changed his stance during his visit to Canada, against the tide of his own party.
As Cuomo explained after signing legislation S.6579A/A.8420, making cannabis possession no longer a criminal offense and expunging some cannabis convicts, “Communities of color have been disproportionately impacted by laws governing marijuana for far too long, and today we are ending this injustice once and for all.” As of August 28th, the penalty for cannabis possession has been reduced to a fine of $50 to $200 depending on the amount.
The final stages of cannabis legalization are in place in Canada, as cannabis edibles are set to become legal within a few months. However, some provincial authorities, like those in Quebec, are taking a more conservative approaches to legalization efforts by preemptively banning the sale of THC-infused edibles and topicals.
As anyone in the cannabis industry already knows, getting a loan or any kind of funding can pose a challenge. Due to the federal regulations against cannabis, banks are often wary of giving out loans for these types of businesses. Backers who support the industry and are willing to help you accomplish your financial goals are a valuable asset for any business, and fortunately, word is getting around about what a wise move it is to invest in cannabis.
OTHER TRENDING NEWS
In another disturbing news headline for the vaping industry, health officials in Wisconsin are reporting at least eight cases of “severe lung damage” among teens, believed to be caused by vaping E-cigarettes. Doctors from the Children’s Hospital of Wisconsin reported their findings to the Department of Health Services earlier in July.