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Heartland Cannabis Business Update – August 2, 2019

Erika Gee
Erika Gee

Partner

Little Rock

Hemp in Arkansas: Grow Your Know 3-6 p.m., January 23
Wright Lindsey Jennings, Little Rock

Tickets
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Let's get into it, universities are starting to take cannabis careers seriously. Some Oklahoma dispensaries sued Facebook. 4,000 Missourians have been approved for medical marijuana licenses. Arkansas marijuana sales hit $4,000,000... What a week! We've read all the news, sweeping through the weeds to uncover the best articles impacting Missouri, Oklahoma and Arkansas. Here's our roundup of the stories we think are worth your time.

Medical Marijuana and Cannabis Business Roundup for Oklahoma, Arkansas and Missouri

Chart: Women account for more than a third of marijuana business executives - Marijuana Business Daily

Although the number of women holding top spots has vacillated since 2015, the percentage of women top executives in the cannabis space is still far higher than the national average of 21% for all businesses in the United States, according to the MJBizDaily survey conducted in June.

Universities Are Finally Starting to Take Cannabis Careers a Little More Seriously - Civilized

These new program offerings are both inspired by the kinds of things students have been asking for but also by a feeling of responsibility among academic centers to help prepare the workforce for the era of legal cannabis.

Nielsen Predicts Legal Cannabis Sales In The U.S. To Reach $41 Billion By 2025 - Green Market Report

This includes all products manufactured from the marijuana plant and the hemp plant and all compounds derived from cannabis sativa.

Chart: Cannabis investors shift from loan financing to equity investment - Marijuana Business Daily

As the perceived risk of investing in the cannabis industry recedes, investors see more upside from investing in cannabis companies’ stock and are less interested in loan financing.

Here are Solutions to the Greatest Tech Issues Facing Dispensaries - Civilized

Since cannabis dispensaries are a new relatively phenomenon, dispensary owners are still figuring out how their shops can serve as all-encompassing providers, addressing the needs of all types of consumers, from the 21-year-old looking to get high to the 80-year-old seeking to mitigate chronic pain.

How FD&C Act Restrictions Impact The CBD Industry - Marijuana Retail Report

Once the FDA approved Epidiolex as a drug, by default they also categorized CBD as a drug instead of a supplement. This has created a myriad of challenges for the CBD industry. SInce most hemp derived CBD products are marketed in a fashion similar to supplements, they are running afoul of the Federal Food, Drug and Cosmetics Act (FD&C Act).

After Legalizing Marijuana, Colorado Saw 'Significant Decrease' In Opioid Prescriptions, Study Finds - Marijuana Moment

"This finding was particularly notable for opioids indicated predominantly for analgesia such as hydrocodone, morphine and fentanyl."

The Situation Has Become Completely Untenable': The Cannabis Industry Reacts to the Senate's Hearing on Banking - Cannabis Business Times

"The entire system makes no sense and it's all based on the federal government treating us like we're an illegal drug cartel, when we're operating legally under state and local law with a high degree of regulation, which is why I say Congress must act."

NAACP, ACLU And Allies Demand Congress Pass Marijuana Bill With Justice Focus - Forbes

"Over the course of this 6-month retrospective study, patients using medical cannabis for intractable pain may have experienced a significant reduction in the average MME available for pain control. A non–statistically significant difference in average benzodiazepine dose was observed. The results of this study add to the currently mixed body of evidence suggesting that medical cannabis may be effective for treating pain."

Oklahoma News

How Cannabis is Transforming Oklahoma - Project CBD

After decades of draconian cannabis policy, Oklahoma is now leading the way on how to regulate cannabis.

Charges dropped against four men accused of hauling thousands of pounds of marijuana - KFOR

Investigators say they believe the seller intentionally tricked the men into transporting the marijuana under the guise of an industrial hemp shipment.

Mark Zuckerberg named in Tulsa dispensaries' lawsuit over 'Facebook jail' harming legal cannabis businesses - Tulsa World

The petition, which alleges discrimination and was filed pro se, says the businesses use platforms such as Facebook to build their brands and make contact with customers. It says Facebook has "a pattern of targeting the Oklahoma medical marijuana industry."

Get Ready: Here’s What You’ll See at the Oklahoma Cannabis Cup - High Times

"Events like the Oklahoma Cannabis Cup are integral in bringing together the local community of cannabis enthusiasts, medical users, and brands in one place, while providing us with the ability to collaborate and connect with key leaders in the industry across the country."

Missouri News

More than 4,000 Missourians approved for marijuana cards in program's first month - Springfield News-Leader

Arkansas, for example, began taking applications in 2017, then started mailing out cards in February, according to reporting by the USA TODAY Network in Arkansas. At that point, about 7,000 Arkansas residents had applied.

Meet the former Walmart manager in charge of Missouri’s medical marijuana program - The Kansas City Star

Fraker’s willingness to crisscross the state talking to industry groups, civic organizations and basically anyone who asks, has been key to making people comfortable with the marijuana program.

Growers see opportunities in hemp - Moberly Monitor-Index

Hemp industry advocates feel bullish about the product because they think it can be used in a wide range of industrial and health uses. Hemp has between 15,000 and 25,000 industrial uses.

Black Entrepreneurs Face Tougher Entry Into Medical Marijuana Industry - St. Louis Public Radio

Just 4% of licensed cannabis companies nationwide are African American owned and operated. For people of color, there are a lot of unique barriers to entry — from a lack of generational wealth and connections, to past history with what’s been an illegal drug.

Arkansas News

Marijuana sales total $4.01 million - Arkansas Times

In the 82 days since medical marijuana sales began in Arkansas, the six open dispensaries have sold a total of 574 pounds of marijuana.

Bentonville medical marijuana dispensaries did not pass inspection; need minor fixes - 40/29 News

Owners of both dispensaries said they had problems with a glitch in the state's tracking software. The facilities' systems have to link with the state's database to measure the amounts of medical marijuana sold.

Two Arkansas medical marijuana dispensaries begin offering delivery services - KATV

A minimum purchase of $100 will be required to qualify the order for delivery, and that doesn't include the delivery fee that depends on where you live. Local deliveries are expected to run between $5-10, while longer hauls could cost upwards of $20 or more.

Bonus Section

A day in the life: Marijuana lab testing (SLIDESHOW) - Marijuana Business Daily

In this slideshow, take a peek into how a Colorado marijuana testing facility identifies yeast and mold in commercial cannabis products.

5 Cannabis Myths Debunked - San Diego Entertainer - Civilized

There are still several myths and questions surrounding cannabis, so we're here to set the record straight.

Thanks for taking time to read the Heartland Cannabis Business Update. See you next week!

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