Day: January 29, 2019

California still has a major problem with black market cannabis

It’s been a year since the California State Legislature passed the legislation legalizing recreational cannabis, however the black market is still more tempting to the everyday user than the legal one.

Around this time last year, residents of California were celebrating legalization of recreational cannabis by lighting up on the streets.

The regulators in California made sure that all those growing illegal cannabis had time and incentives in order to move into the legal system.

Processors and retailers were given time to move towards legally produced cannabis by summer and at one point a huge glut of cheap illegal cannabis was sold for $1 per gram.

You could literally buy an ounce of “legal weed” for 30 dollars because retailers were trying to sell as much as they could, otherwise they’d have to dump all the stuff they had in stock in just a few days.

The combination of those things led to the unexpectedly low numbers in the financial department, and the legislators in California need to do something about it as soon as possible.

Taxes came in short

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Proposing Practical Regulations for Edibles

Health Canada’s 10 mg limit per package for edibles will be creating many limitations. Medical cannabis patients, at the very least, should be granted other options. Like individually portioned edibles, but not individually packaged. In fact, this should be a model for all edibles. Although, a further solution exists. Reading through the Cannabis Act many months ago, my […]

The post Proposing Practical Regulations for Edibles appeared first on Cannabis Life Network.

Source: https://cannabislifenetwork.com/proposing-practical-regulations-for-edibles/…

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Supreme Cannabis’ 7ACRES Facility Approved for Additional Production Capacity

7ACRES receives Health Canada approval for approximately 30,000 sqft of additional production space. Licensed space at 7ACRES increases to 120,000 sqft and target annual production capacity is expected to increase to approximately 17,500kg. 7ACRES also received Health Canada approval for its plant micropropagation space. Supreme Cannabis anticipates further Health Canada approvals in the near term. […]

The post Supreme Cannabis’ 7ACRES Facility Approved for Additional Production Capacity appeared first on Cannabis Life Network.

Source: https://cannabislifenetwork.com/supreme-cannabis-7acres-facility-approved-for-additional-production-capacity/…

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Organigram Reports Record Net Revenue of $12.4 Million

Net revenue growth due to first shipments of adult-use recreational product during the period Consists of gross revenue of $14.4 million less excise taxes and returns of $2.0 million Adjusted Gross Margin (a non-IFRS measure)1 equal to $8.8 million up from $1.6 million in prior quarter Cash cost of cultivation (a non-IFRS measure)1 equal to $0.56/dried flower […]

The post Organigram Reports Record Net Revenue of $12.4 Million appeared first on Cannabis Life Network.

Source: https://cannabislifenetwork.com/organigram-reports-record-net-revenue-of-12-4-million/…

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