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Heartland Cannabis Business Update – December 18, 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

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The momentum behind the Green Rush crashed through a giant wall last week. America's pastime became the largest US professional league to drop marijuana from their banned substances list. This was long expected for pro sports, but shocking to hear, nonetheless. We've collected the most useful articles on medical marijuana in the nation and throughout the Heartland just for you! Here's our roundup of the latest news impacting Missouri, Oklahoma and Arkansas that we think is worthy of your time.

Oklahoma Medical Marijuana Business Roundup

Business News

MLB Officially Removes Marijuana From Banned Substances List For Baseball Players - Marijuana Moment

Major League Baseball (MLB) and the MLB players union announced on Thursday that they have reached an agreement to remove marijuana from the list of banned substances and will begin to treat its consumption by players in the same way that alcohol use is handled.

Texas Energy Company Planning Nation's Largest Hemp Facility - Ganjapreneur

"Hemp fiber and cellulose will help manufacturers meet the needs of today's eco-conscious consumers who increasingly require environmentally friendly products and services. … We have concluded that the processing of hemp stalk for industrial uses will be the next multi-billion-dollar business in the United States."

2020 Financial Trends for the Cannabis Industry - Cannabis Industry Journal

Finding new capital investment will become more difficult. While we can expect new markets coming online, we can also expect more regulations as well as considerable M&A activity and consolidation.

A serial tech entrepreneur is trying to create an Amazon-like platform for legal marijuana - CNBC

"Our biggest competitor right now is the illicit market," he said. "We're going after them, and I think that digital payments will really set us apart."

Expert Cannabis Grower Reveals Secrets and Insights - CannaInsider (Podcast)

If you are interested in what it takes to be a profitable, cutting-edge, commercial cannabis cultivator, you'll love this interview with expert grower Nick Hice of Denver Relief.

Leafly launches online CBD store Leafly Market - Leafly

"Shopping for CBD can be an overwhelming experience, so we've taken the extra step of lab testing the products we sell ourselves," said Leafly CEO Tim Leslie. "CBD offers wellness benefits, and in the absence of clear federal regulation, we want to do our part to make sure we're creating a place where people can know what they see on the label is what they will receive in the box."

Health News

WHO Report Finds No Public Health Risks Or Abuse Potential For CBD - Patients For Medical Cannabis

According to a preliminary WHO report published last month, naturally occurring CBD is safe and well tolerated in humans (and animals), and is not associated with any negative public health effects.

How CBD Treats Endometriosis - Cannabis Culture

Apart from offering efficient pain relief from cramps, CBD, in combination with THC, combats other endometriosis symptoms like nausea, low libido, and depression. "A high CBD product – specifically a 1:10 THC:CBD ratio is reported to work best in treating nausea.

Is marijuana use associated with a higher risk of cancer? - Medical News Today

As the use of marijuana is increasing in the United States, researchers are asking whether the use of this substance — particularly smoking joints — is associated with an increased risk of any form of cancer, and, if so, which.

National News

House-Passed Marijuana Amendments Stripped From Congressional Spending Bills - Marijuana Moment

The final Fiscal Year 2020 spending legislation, expected to be voted on by both chambers and sent to the president ahead of Friday's deadline to avoid a government shutdown, also cuts a proposal to shield banks that service the marijuana market from being penalized by federal regulators, which was included in the House bill but not the Senate's.

USDA hemp-production regulations endanger smokable hemp flower market, business leaders say - Hemp Industry Insider

"They basically killed the smokable flower market in this country when it was really starting to build steam," said Ryan Pettigrew, a hemp consultant based in Fort Collins, Colorado, "and it presented no rational positive concern besides the typical government fear-mongering, 'Reefer Madness' nonsense."

Marijuana is a high job-growth industry - Working Nation

"A lot of people overlook the fact this isn't just a job creator in a new legal business, but the cannabis industry is helping to build back industries that are languishing in other parts of the country. And now they're back and some expanding because of the ability to interact with the cannabis industry."

Can you patent weed? - The Roll-up (Leafly Podcasts)

David Bienenstock unveils the wild world of cannabis patent inventors, assignees, and trolls.

Colorado's average price of wholesale marijuana hits 3-year high after record spike - The Denver Post

The median price of a pound of marijuana buds sold or transferred to a retail store from a growing facility was $1,316...That's the largest single-quarter price increase in the history of the state's recreational marijuana program. It's also 68.5% higher than the average market rate that took effect Jan 1. 2019, then just $781 per pound.

Missouri Cannabis Business

Springfield-area man says police wouldn't accept his medical marijuana card - Springfield News-Leader

Marijuana card problems are cropping up repeatedly around the Show-Me State as officials work to implement the medical marijuana law voters approved last year.

From brownies to ‘pot roast': Missouri is learning how to get medical marijuana - The Kansas City Star

Moms are swapping information in private Facebook groups. People are walking into head shops for the first time and gathering in VFW halls to find out how to get an ID card from the state of Missouri, which they can only do online.

A Business With Lake Of The Ozarks Roots Hopes To Grow Medicinal Marijuana Here - Lake Expo

Cannabis is about to be big business in Missouri, and the Lake of the Ozarks area will likely have its fair share of cultivators, manufacturers, and distributors, if license applications submitted to the Missouri Dept. of Health and Senior Services are any indication. One of those applications—to cultivate and manufacture medicinal cannabis—comes from Missouri Oz: a family business with Lake roots.

Arkansas Cannabis Business

Shoulda Known Better (Gwen Moritz Editor's Note) - Arkansas Business

The best thing about legalizing marijuana use, medicinally or otherwise, is the fact that it's been used by so many people in so many places for so many years that the drawbacks are well understood.

Chart: Lack of dispensaries doesn't limit first six months of Arkansas medical marijuana sales - Marijuana Business Daily

Comparing the first six months of medical marijuana sales in Arkansas to other states, it outperformed Illinois ($2.2 million average monthly sales) and is on pace with Ohio ($3.6 million).

Medical marijuana comes to Northeast Arkansas as first regional dispensary opens - Talk Business & Politics

"We will have a full spectrum of products currently offered by Arkansas cultivators," said NEA Full Spectrum General Manager Lance Huey. "As we join this growing sector, we do so with a commitment to learning every day what we can do to provide an unmatched experience and product to our patients."

Texarkana cannabis dispensary Red River Remedy close to opening - Texarkana Gazette

State inspectors last week told the company that some changes must be made before the Arkansas Medical Marijuana Commission would approve the facility's opening, Mash said. Those changes could be completed by the end of the year, though an exact timetable is difficult to specify.

Fort Smith medical marijuana dispensary set for Friday inspection - 40/29 News

Fort Smith card holders have had few options for getting medical marijuana, other than driving to Northwest Arkansas or paying for a temporary license in Oklahoma.

Oklahoma Cannabis Business

Petition filed to legalize recreational marijuana in Oklahoma - The Oklahoman

Comparing the first six months of medical marijuana sales in Arkansas to other states, it outperformed Illinois ($2.2 million average monthly sales) and is on pace with Ohio ($3.6 million).

Oklahoma Law Would Fast-Track Medical Marijuana Licenses For Terminally Ill Patients - High Times

"If somebody has six weeks or a few months to live, certainly we ought to get them relief faster," said Standridge [Republican state Sen. Rob Standridge of Norman]. "I'd like them to get it within five days."

DEA Finds Hundreds Of Pounds Of Illegal Marijuana In Oklahoma Stash Houses; 2 Suspects Named - News on 9

While no arrests have been made, court documents filed by the DEA Wednesday named two individuals, one of them as the head of a major drug operation, the other as the person responsible for the deliveries.

Bonus Section

The Emerald Cup 2019 winners and where to buy them - Leafly

The Emerald Cup 2019—the world's largest commercial outdoor cannabis contest—wrapped last Sunday in Santa Rosa, California, when judges awarded the Cup to Ridgeline Farms of Humboldt County for their version of the cannabis variety Runtz, out of 700 entrants in 14 categories.

In one year, Canadians spent $908M on legal cannabis - Global News

Canadians spent $907,833,000 on non-medical cannabis between October 2018 and September 2019, the agency said, which works out to $24 per capita.

Thailand Prime Minister Uses Medical Marijuana At Event With Ganja Mascot - Marijuana Moment

Top officials in Thailand are getting the word out about medical marijuana—in part by distributing cartoon cannabis dolls and publicly using marijuana oils.

Season's Greenings! These Are The Best Cannabis And CBD Gifts Of 2019 - Green Entrepreneur

With diverse and high-quality products that are packaged and marketed in sophisticated ways, cannabis is no longer solely within the purview of your stoner cousin. It's for everyone. To help you sort through the plethora of brands out there, we present you with this curated list of recommendations for that special person in your life.

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