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Heartland Cannabis Business Update – June 28, 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

What a great week for the Heartland! Oklahoma's cannabis industry marked one year since legalization. Missouri's DHSS revealed proposed dispensary locations. Arkansas' 4th medical marijuana dispensary was approved to open... The Green Wave is rolling. We've read all the cannabis business 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

The Midwest Is About to Have a Weed Revolution - Vice

"This is the biggest domino yet to fall," said Jim Higdon, a Louisville, Kentucky–based hemp entrepreneur, and the author of Cornbread Mafia. "This puts legal retail marijuana within driving distance of vast swaths of the Midwest and Upper South. States like Kentucky, Indiana, and Tennessee are about to lose millions in tax revenue to Illinois border-town dispensaries."

Breaking Down Congress's Vote To Protect Legal Marijuana States From Federal Enforcement - Marijuana Moment

A closer look at the vote tally reveals subtle trends, dissents, individual vote flips and developments that paint a fuller picture of the state of marijuana politics in the Democratic-controlled chamber.

Oregon has too much cannabis. Two laws may help the state manage its surplus - Los Angeles Times

"You have people using water in the desert in Nevada to grow mediocre cannabis, or in Florida, where they have to dehumidify giant spaces, consuming twice the energy, Oregon wouldn't have an oversupply problem if we could access legal markets like these." - Adam J. Smith, founder and director of the Craft Cannabis Alliance.

Congressional Bill Would Allow Marijuana Imports And Exports Between Legal States - Marijuana Moment

States would be able to legally import and export marijuana under a bill introduced by Sen. Ron Wyden (D-OR) and Rep. Earl Blumenauer (D-OR) on Thursday. The novel legislation, which would also codify a policy prohibiting the Justice Department from interfering in state-legal cannabis activities, would let states that have legalized marijuana enter into affirmative agreements to engage in interstate transportation.

Role of Colorado in the Cannabis Retail Market - Cannabis Health Insider

Colorado's program for legalizing cannabis is growing at a stable rate. In May, the governor signed bills for the legalization of cannabis for services relating to delivery and social use regions. Moreover, the bills involved the legislative bodies to allow traded companies on a public scale for holding business licenses for cannabis.

U.S. Postal Service: Yes, Hemp and Hemp-Based Products Can Be Shipped by Mail - Cannabis Business Times

"I think that the USPS stepping up to clearly lay out their policy was wise given the movement towards the acceptance and legalization of hemp in the U.S. post 2018 Farm Bill," said Jason Mitchell, co-founder and president of Hemp Fusion, a provider of hemp-based products. "This move also provides additional support for this movement and thus helps to create a sense of acceptance by other organizations."

Inside the House Committee on Small Business Hearing: Q&A With the Minority Cannabis Business Association's Shanita Penny - Cannabis Business Times

Penny discusses the House Committee on Small Business hearing aimed to ease rules on small cannabis businesses, as well as challenges for small and minority-owned companies.

National Sheriffs' Association Calls For Marijuana Rescheduling - Marijuana Moment

"NOW, THEREFORE, BE IT RESOLVED, the National Sheriffs' Association supports the reclassification of marijuana as a Schedule II drug under the Controlled Substances Act in order to remove those impediments and allow greater research."

Hemp: A Growing Market Ripe for Protection - Cannabis Industry Journal

Now is the time for farmers, researchers, and hobbyists alike to take advantage of the expanded opportunities available for protecting intellectual property for proprietary hemp varieties.

Social media challenges continue for cannabis firms – sometimes costing thousands in lost investment - Marijuana Business Daily

After what seemed to be a brief hiatus, social media giants are once again suspending – and outright deleting – the accounts of marijuana companies.

4 Reasons Why Community Relations is Critical to Cannabis Industry - Cannabis Industry Journal

As the cannabis industry continues to grow and competition increases, you'll feel good about setting the bar high as a responsible and thoughtful invested member of your local business community.

How Big Data and AI Help Drive The Cannabis Industry - Forbes

The U.S. legal cannabis market was valued at $11.9 billion in 2018 and is expected to be worth $66.3 billion by the end of 2025. With this kind of growth, data collection and use are essential to the Cannabis industry in many ways.

Podcast: Serving the cannabis industry - Accounting Today

Marijuana businesses are growing fast, but it's a complicated market that accountants need to really understand before they jump in, according to Dave Roberson and Maureen Ryan of Kukuza Associates.

Cannabis Ingredient CBD Could One Day Become an Antibiotic - Newsweek

"Cannabidiol is already well-characterized in terms of human use, this is important because if cannabidiol is found to be effective in treating infection it could be fast-tracked into clinics."

Oklahoma News

One year after SQ 788 vote, Oklahoma near No. 1 for patients among medical marijuana states - Tulsa World

As of June 24, the Oklahoma Medical Marijuana Authority has already registered more than 3.5% of the population as patients, with little sign of applications slowing.

Medical marijuana in Oklahoma: One year on - KTEN

After 12 months, Oklahoma has become the No. 3 state for medical marijuana usage, and distributors say that figure is only increasing.

Missouri News

DHSS reveals a bit more about where dispensaries and other marijuana companies will locate - Springfield News-Leader

"Because the official application process does not begin until August," state officials said in a news release, "there is no guarantee these numbers will be representative of where actual proposed facilities will be positioned."

St. Louis County has second-most marijuana business applications in Missouri - St. Louis Post-Dispatch

Most of the marijuana business applications are concentrated in the St. Louis and Kansas City areas, with each receiving nearly 90 applications to open marijuana dispensaries.

Group aims to help patients defray costs and get started in Missouri's medical cannabis program - The Kansas City Star

Ayden's Alliance, an advocacy group, is raising money and awareness to help patients as Missouri's medical marijuana program gears up.

Missouri to accept medical marijuana patient applications this week - KMBC

60 cultivation facilities, 192 dispensary facilities and 86 medical marijuana manufacturing facilities will be officially licensed in the state, the department said in a news release.

Arkansas News

Fourth medical cannabis dispensary in Arkansas approved for business - SW Times Record

Since Doctor's Orders first opened on May 10 in Hot Springs, the Department of Finance has tracked a total of 258 pounds of medical cannabis sold with about $1.72 million in total sales. Doctor's Orders has sold 75 pounds as of 11 a.m. Wednesday; Green Springs Medical in Hot Springs opened May 12 and has sold 174 pounds; Arkansas Natural Products opened June 20 and has sold 9 pounds.

GOP lawmakers create hurdles for citizen ballot initiatives - AP News

"Everything they have done has ... the ultimate goal to eliminate the petitioning process so that the people have no voice, and it is outrageous," said Melissa Fults, executive director of the Drug Policy Education Group, who plans to try and get a recreational marijuana proposal on next year's ballot.

Dan Roda Leads Abaca to Capital Investment Amid Changing Attitudes - Arkansas Money & Politics

"It's a double-edge sword," he says, stirring his iced coffee. "Mainstream acceptance of cannabis is very important. The growth segments in the industry aren't going to be your 20-year-olds and your 30-year-olds. It's going to be inventing a cannabis product that gets your average soccer mom interested, or the retiree. That's what they're really looking for to grow the industry. And if it wasn't for that increased acceptance of at least the medical applications of cannabis, this wouldn't be a growth market."

Bonus Section

A 'Museum of Weed' is coming to Hollywood - CNN Business

The Weedmaps Museum of Weed, slated to be open from Aug. 3 through Sept. 29 at 720 North Cahuenga Boulevard, will take visitors on a chronological walk through history — from the early uses of the cannabis plant to the "Reefer Madness" and "War on Drugs" eras through to the present-day legalization efforts.

Martha Stewart On How Snoop Dogg Got Her Into The Cannabis Business, Her New CBD Line, And Aging Well - Forbes

"By 2029, more than half of the U.S. population will be over 65 years old. And if CBD and cannabis can offer an alternative to other kinds of medicines—wow, how great will that be?"

Make Cannabis Queer Again: Inside the Birthplace of the Legal Marijuana Movement - Civilized

"Everyone who is in the cannabis industry right now should work hard to maintain all types of diversity, because there's such an influx of investment money coming in, that [means] less diversity."

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

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