In Colorado, a new governor means another chance for the state’s one and a half billion dollar a year cannabis industry to open its markets to outside investors. The move intends to allow Colorado to compete with less restrictive states like California, Florida and Massachusetts, and as some industry experts say: better late than never.
In California, a class-action lawsuit may proceed against rural Calaveras County, which prohibited marijuana grows only after first collecting taxes and fees from hundreds of cultivators. The MJ farmers are seeking a 16 million dollar settlement, or will take the case to court.
In the Northeast, another state pushes for cannabis legalization. Several house democrats in Connecticut drafted legislation to legalize adult-use marijuana under a tightly controlled framework, but it’s chances of passing are currently unclear.
In New Jersey, there has been a hundred and fifty percent increase in the medical marijuana patient count since Governor Murphy took office last year. It seemed to be bolstered by the addition of five more medical conditions covered under the state’s MMJ program. Previously, the program added twenty five thousand patients since January of 2018 and now has reached a record patient count of forty two thousand.
New market figures out of Canada indicate a decrease in dried adult-use cannabis sales while inventory builds up, despite claims of a national shortage. This may be due to the growing popularity of other products, like oils, but will it lead to the corresponding market development?
Also in Canada, marijuana cultivator Tilray hires former Goldman-Sachs Managing Director Andrew Pucher as chief corporate development officer, illustrating its strategy of hiring executives from diverse corporate backgrounds to heational companies are looking to Africa as the next burgeoning MMJ market.
ad up its management team.
In international news, Zimbabwe approved its first license for a commercial MMJ cultivator, after legalizing cultivation for medical and scientific purposes about a year ago. After Lesotho shipped medical cannabis to Canada last year.
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