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Heartland Cannabis Business Update – July 13, 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
Free

Do you know who the most influential women are in the cannabis industry? Read through to the bonus section and you will!  We've swept through the weeds to uncover the good stuff. Here's our roundup of the week's stories impacting Missouri, Oklahoma and Arkansas that we think are worth your time.

Medical Marijuana and Recreational Cannabis Business Roundup

USA! Americans Spent $400M on Cannabis for Fourth of July - Green Entrepreneur

To put the cannabis purchases in perspective, according to WalletHub in 2018 Americans spent $1B on beer, another billion on fireworks and $568M on wine.

No, states haven't legislated marijuana users lose their guns - Politifact

While federal law prohibits marijuana users from owning a firearm, states are not legalizing cannabis and then passing legislation that requires marijuana users to forfeit their gun rights.

Youth Marijuana Use Declined In States That Legalized, Study Finds - Marijuana Moment

The research, which analyzed federal data on marijuana use trends among 1.4 million high school students from 1993 to 2017, showed that self-reported past-month youth cannabis use declined by an average of eight percent in states that legalized recreational marijuana.

Taxing Based on THC: What It Means for Concentrates - Cannabis Now

Most states tax cannabis products based on weight, but one state has recently decided to tax cannabis products based on how much THC they contain. This will have big ramifications for potent concentrates — and other states might follow along.

US Growing Largest Crop Of Cannabis For Research In 5 Years - Marijuana Retail Report

The government is the only source of pot for nearly all research in the U.S., while it still considers it illegal and dangerous.

When You Don't Know What You Don't Know: Debunking Cannabis Insurance Myths - Cannabis Industry Journal

Reviewing the existing insurance policies of today's cannabis businesses uncovers some serious gaps in coverage that could be financially crippling if not downright dangerous should a claim be triggered.

CBD May Take Up the Majority of Cannabis Industry Sales if Current Trends Continue - Green Market Report

Average item price (AIP) and the number of products people are adding to their basket in the CBD category (basket penetration) are rising concurrently.

Oklahoma News

Education plays an important role in medical marijuana - The Oklahoman

"With not having an education about what's going on, you run a lot of risks and can end up in jail," McMahan said. "There's still a lot of regulations you have to follow, and if you don't follow those regulations, you can end up in a lot of trouble."

Driver Impairment Awareness Day tests marijuana users, drinkers and texters with Muskogee law enforcement - Tulsa World

In Oklahoma, it's legal for licensed medical marijuana patients to drive with cannabis in the car, but it's illegal to drive while impaired by THC. However, marijuana intoxication isn't easy to measure like alcohol.

SOONER JUSTICE – The Will Foster Story: From a 93-year Prison Sentence to Growing Norma's Dream - Ounce Magazine

Not only have Oklahomans shown the rest of the country what is possible when grassroots activists work in the same direction towards a common goal, they are now pushing for sweeping changes in the state's criminal justice system.

Cannabis conglomerate sinks roots in Muskogee - Muskogee Phoenix

"We're like a small factory, bringing 100 jobs to town," said Patrick Cale, a principle partner and state license holder. "And that, to me, is one of the biggest wins for Muskogee."

Missouri News

Applications show strong competition for medical pot licenses - Columbia Tribune

The list of pre-applicants is now public, as a result of Sunshine Law case brought by the St. Louis Post-Dispatch. Of the Boone County proposals, 31 want to operate in Columbia, with 22 dispensaries, six cultivators and three manufacturers.There are also a pre-filed applications for a Centralia dispensary, a Hallsville dispensary and a cultivator in Rocheport.

Medical marijuana licenses sought for nearly 30 Southwest Missouri locations - The Joplin Globe

Among the more prolific applicants is Sarcoxie Nursery, which is run by retired Joplin-area cardiologist Paul Callicoat. He wants to open several locations across the state.

As Medical Marijuana Comes to Missouri, the ‘Green Rush' Is On - Riverfront Times

The Missouri Cannabis Industry Association estimates that Missouri's medical cannabis market could exceed Colorado's, which in 2017 was worth $440 million.

Kansas City committee approves compromise on cannabis buffer zones - FOX4KC

Under state regulations, Jackson County will have 24 cannabis dispensaries. The local regulations also would apply to cultivation and manufacture of marijuana.

Arkansas News

Arkansas Medical Cannabis Sales Top $2M In 2 Months - Ganjapreneur

The sales are higher than Ohio's first two months, which, according to the Ohio Medical Marijuana Control Program, were just shy of $2 million. Ohio has a significantly larger population than Arkansas.

Group plans ballot attempt to legalize recreational marijuana in Arkansas - Fayetteville Flyer

"Other states have seen better, safer outcomes by removing the black market elements created by the illegal sale of cannabis," said Melissa Fults, the group's executive director, in a statement. "The truth is that cannabis is safer than alcohol while prohibition is ineffective and racially biased. It has done far more harm in our community than cannabis."

6th pot dispensary approved to open - Northwest Arkansas Democrat Gazette

Fiddler's Green will be the second dispensary opened in Zone 2 in north Arkansas. The Arkansas Medical Marijuana Commission divided the state into eight zones with four dispensaries per zone.

Bonus Section

23 of the Most Influential Women in Cannabis - Civilized

The cannabis space wouldn't be what it is today without a number of female trailblazers paving the way in all sectors of the industry, from activism to politics to entrepreneurship.

These Are the Skills That Will Get You a Job In the Cannabis Industry - Green Entrepreneur

Your lack of experience specifically in the cannabis industry is likely not nearly the obstacle you fear it may be.

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

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