Chicago allows some adult-use cannabis sales downtown

October 16, 2019
 

Chicago’s City Council approved a zoning ordinance that bans recreational marijuana stores from the central business district but allows them to locate in part of the popular River North area downtown. Mayor Lori Lightfoot initially had proposed a ban covering nearly all of downtown, but she recently had a change of heart that unlocks some

Chicago allows some adult-use cannabis sales downtown is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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420Investor Alan Brochstein & Harvest Health and Recreation (CNSX:HARV) - Midas Letter RAW 272

October 16, 2019
 
420Investor Alan Brochstein & Harvest Health and Recreation (CNSX:HARV) - Midas Letter RAW 272
Midas Letter RAW highlights the stocks and stories to watch in the Canadian markets today. James West and Ed Milewski provide comprehensive fundamental & technical analysis on all trending business and investment news, while interviewing the top CEOs of all public companies and analysts with the highest reputations in the business. ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

addiitional information, George Scorsis

Harvest Health & Recreation (CNSX: HARV) on Track To Become Largest Vertically Integrated MSO in USA

October 16, 2019
 
Harvest Health & Recreation (CNSX: HARV) on Track To Become Largest Vertically Integrated MSO in USA
Harvest Health & Recreation (CNSX:HARV) CEO, Steve White ************************ Check out our website: https://midasletter.com ************************ SUBSCRIBE to our YouTube: http://bit.ly/MidasLetterYoutube SUBSCRIBE to our 2nd YouTube Channel - Midas Letter Clips: https://bit.ly/2rtQzgy SUBSCRIBE to our Newsletter: http://bit.ly/MidasLetterNewsletter Download Our Podcast on iTunes: http://bit.ly/MidasLetterPodcast ************************ Follow Us on Twitter: http://bit.ly/MidasLetterTwitter Like Us on Instagram: http://bit.ly/MidasLetterInsta Like Us on Facebook: http://bit.ly/MidasLetterFacebook ************************ #WeedStocks #MidasLetter

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Former IRS attorney warns of upcoming ‘tsunami’ of marijuana-related 280E audits

October 16, 2019
 

A tax expert who spent six years as an IRS trial lawyer is sounding a new 280E alarm bell that many cannabis businesses might need to answer soon. Nick Richards, a Denver-based tax attorney who now works in the private sector with a clientele that includes marijuana firms, is calling attention to changes in IRS policy that

Former IRS attorney warns of upcoming ‘tsunami’ of marijuana-related 280E audits is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis website

Colorado proposes rules to ban additives in cannabis vape products

October 15, 2019
 

Colorado regulators are finalizing rules to ban certain ingredients from marijuana vaping products, following the lead of other states with legal cannabis programs in the wake of a health crisis that has sickened more than a thousand and killed over two dozen people. At a public hearing Tuesday, Colorado’s Marijuana Enforcement Division discussed the proposed rules

Colorado proposes rules to ban additives in cannabis vape products is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

Aphria’s latest results highlight positive outlook for marijuana industry

October 15, 2019
 

Recent skepticism of the cannabis sector may be overblown, especially for companies that are fully funded - as highlighted by Aphria’s latest quarterly results.

Aphria’s latest results highlight positive outlook for marijuana industry is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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george scorsis

Big banking shows more interest in serving cannabis clients after recent SAFE Act passage by U.S. House

October 14, 2019
 

Banks and other financial institutions are gearing up for potential massive involvement with the marijuana industry after last month’s passage of the SAFE Banking Act by the U.S. House of Representatives. While it remains unclear how the measure might fare in the Senate and if President Trump would sign it into law, the bill’s eventual passage

Big banking shows more interest in serving cannabis clients after recent SAFE Act passage by U.S. House is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs


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George Scorsis

Hemp-CBD Across State Lines: Louisiana

October 13, 2019
 

louisiana hemp cbd

The Agriculture Improvement Act of 2018 (“2018 Farm Bill”) legalized hemp by removing the crop and its derivatives from the definition of marijuana under the Controlled Substances Act (“CSA”) and by providing a detailed framework for the cultivation of hemp. The 2018 Farm Bill gives the US Department of Agriculture (“USDA”) regulatory authority over hemp cultivation at the federal level. In turn, states have the option to maintain primary regulatory authority over the crop cultivated within their borders by submitting a plan to the USDA.

This federal and state interplay has resulted in many legislative and regulatory changes at the state level. Indeed, most states have introduced (and adopted) bills that would authorize the commercial production of hemp within their borders. A smaller but growing number of states also regulate the sale of products derived from hemp.

In light of these legislative changes, we are presenting a 50-state series analyzing how each jurisdiction treats hemp-derived cannabidiol (“Hemp CBD”). Each Sunday, we summarize a new state in alphabetical order. Today, we head to the bayou: Louisiana.

Louisiana lawmakers recently adopted House Bill 138 (HB 138) and  House Bill 491 (HB 491) in light of the 2018 Farm Bill. HB 138 amends Louisiana’s definition of marijuana to exclude “industrial hemp that is in the possession, custody, or control of a person who holds a license issued by the Louisiana Department of Agriculture and Forestry, or is cultivated and processed in accordance with the U.S. Agriculture Improvement Act of 2018.” In turn, HB 138 defines industrial hemp as “the plant Cannabis sativa and any part of that plant, including the seeds thereof and all derivatives, extracts, cannabinoids, isomers, acids and salts of isomers, whether growing or not, with a delta-9-tetrahydrocannabinol concentration of not more than 0.3 percent on a dry weight basis and cultivated and processed in accordance with the U.S. Agriculture Improvement Act of 2018, or the plan submitted by the Louisiana Department of Agriculture and Forestry that is in compliance with the U.S. Department of Agriculture rules.” In Louisiana, hemp is only legal if it meets the THC concentration outlined in the 2018 Farm Bill and also was cultivated and processed legally, either in Lousiana or elsewhere.

HB 491 lays out the details of Louisiana’s hemp cultivation plan. The Louisiana Department of Agriculture and Forestry (LDAF) oversees the program. LDAF issues the following licenses:

  • Grower License – authorizes the licensee to cultivate, handle and transport industrial hemp;
  • Processor License – authorizes the licensee to handle, process and transport industrial hemp;
  • Seed Producer – authorizes the licensee to produce, transport and sell industrial hemp seed; and
  • Contract Carrier – authorizes the licensee to transport industrial hemp (required when the transporter is not the licensed grower or processor of the plant material).

LDAF has not yet begun issuing these licenses as the USDA has yet to approve any state plan, including Louisiana’s. With regards to hemp cultivation, HB 491 tracks the farm bill closely. It is worth mentioning that any person transporting or delivering hemp in Louisiana must carry a dated invoice, bill of lading, or manifest which shall include the seller and purchaser’s name and address, the specific origin and destination, and the quantity of hemp. That’s important to note for anyone traveling through Louisiana with hemp.

HB 491 also covers Hemp-CBD products. No person may process or sell (1) any part of hemp for inhalation, (2) any alcoholic beverage containing CBD, or (3) any food product or beverage containing CBD unless the FDA approves CBD as a food additive. All Hemp-CBD products must be labeled and registered in accordance with Louisiana’s  Food, Drug and Cosmetic Law (R.S. 40:601 et seq.). Hemp-CBD may not be marketed as a dietary supplement. In addition, Hemp-CBD labels must meet the following criteria and be approved by the Louisiana Department of Health:

  • Contain the following language: “This product has not been evaluated by the Food and Drug Administration and is not intended to diagnose, treat, cure, or prevent any disease.”
  • Contain no medical claim
  • Have a scannable bar code, QR code, or web address linked to a Certificate of Analysis (COA)

COAs for Hemp-CBD products in Louisiana must contain the following:

  •  The batch identification number, date received, date of completion, and the method of analysis for each test conducted.
  • Test results identifying the cannabinoid profile by percentage of dry weight, solvents, pesticides, microbials, and heavy metals.

Retailer sellers of Hemp-CBD must (1) register with the Office of Alcohol Tobacco Control (OATC) and (2) meet the above specific labeling and testing requirements. Hemp-CBD may only be sold by businesses holding a CBD Dealer Permit from OATC, which requires a location in Louisiana where products are stored and/or sold. CBD Dealer Permit applicants must also have been residents of the state of Louisiana for two years prior to applying. These provisions make the online sale of Hemp-CBD in Louisiana impractical in most cases. 

Stay tuned to the Canna Law Blog for developments on hemp and Hemp CBD in Louisana and other states across the country. For previous coverage in this series, check out the links below:


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George Scorsis

Quebec Precious Metals (CVE:CJC) Exploration Plans for Highly-Prospective James Bay Territory

October 12, 2019
 
Quebec Precious Metals (CVE:CJC) Exploration Plans for Highly-Prospective James Bay Territory
Quebec Precious Metals Corporation (TSX.V:CJC) (OTC-BB:CJCFF) CEO Normand Champigny joins Midas Letter to discuss the highly-prospective Eeyou Istchee James Bay territory in Quebec, which it describes as "the next Eleonore Mine". The Eleonore Mine is 90 kilometres from the Eleonore mine, which is one of Canada's largest gold mines producing over 350,000 ounces of gold annually. The project already has infrastructure in place to be able to explore and drill all-year round. The CEO states Quebec Precious Metals is planning on drilling at least 10,000 meters. The company have recently announced exploration plans for the first phase of the 2019 program in the James Bay territory. The program will primarily focus on advancing its flagship project Sakami and the La Pointe deposit. As of the interview date, a total of 100 diamond drill holes have intercepted the deposit.

George Scorsis

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