Arizona Legalize Extracts, Tilray gets EU Certification and Colorado Marijuana Prescriptions

In Colorado, a new bill passes which will allow medical marijuana to be prescribed for any condition in place of painkillers. Many see the trade of opioids for cannabis as a huge positive for patients, but some physicians see it as a risky substitute of a highly regulated medication. Let us know your thoughts online at Cannabis Broadcast Station.

In Maine, a public hearing reveals residents value small businesses for the state’s recreational market, proposing rules that would limit licenses to state residents for the first two years. Adult-use cannabis was voted to be legalized in Maine in 2016 but still needs a regulatory framework before being implemented.

Also on the East Coast, a new report reveals that New Yorker’s may account for up to half of recreational cannabis sales in Massachusetts. A dispensary near the state’s border, Theory Wellness, says they have about a thousand customers a day, and double their expected sales, due in large part to consumers from neighboring states without a legal market.

In Arizona, the state’s supreme court rules that cannabis extracts, including concentrates, vape cartridges and edibles are legal, after confusion over the issue. The ruling is seen as a big win for the state’s booming medical marijuana industry.

In international finance, New-Brunswick-based cannabis producer Organigram begins trading on the Nasdaq, joining other major Canadian companies such as Aurora, Canopy, Cronos and Tilray. Organigram trades on the Nasdaq and the Toronto Stock Exchange under the ticker symbol OGI.

In Canada, a subsidiary of Canopy Growth and Canopy Rivers portfolio company Vert Mirabel received its final cultivation license from Health Canada, increasing its operating space to 700,000 square feet. The Quebec facility will bring Canopy’s Canadian licensed production footprint to about 4.6 million square feet total, further establishing the company as a major player in the Canadian market.

Overseas, a Tilray subsidiary has received its EU Good Manufacturing Certification for its facility in Portugal, allowing them to export dried cannabis for medicinal products. With it, the Canadian cannabis industry giant plans to expand their export capacity to the European Union and other international markets.

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Directed by: Micah Tatum @arbitrageent
News Anchor: Jacqui Verdura

William Bradley

William Bradley

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