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Author: Johnny Green

Kai-Friedrich Niermann, Chris Husong, Roman Dobrina, Philipp Weber, Rebecca Wiegartner Kai-Friedrich Niermann, Chris Husong, Roman Dobrina, Philipp Weber, Rebecca Wiegartner Kai-Friedrich Niermann, Chris Husong, Roman Dobrina, Philipp Weber, Rebecca Wiegartner Kai-Friedrich Niermann, Chris Husong, Roman Dobrina, Philipp Weber, Rebecca Wiegartner Kai-Friedrich Niermann, Chris Husong, Roman Dobrina, Philipp Weber, Rebecca Wiegartner Kai-Friedrich Niermann, Chris Husong, Roman Dobrina, Philipp Weber, Rebecca Wiegartner Kai-Friedrich Niermann, Chris Husong, Roman Dobrina, Philipp Weber, Rebecca Wiegartner Kai-Friedrich Niermann, Chris Husong, Roman Dobrina, Philipp Weber, Rebecca Wiegartner Kai-Friedrich Niermann, Chris Husong, Roman Dobrina, Philipp Weber, Rebecca Wiegartner Kai-Friedrich Niermann, Chris Husong, Roman Dobrina, Philipp Weber, Rebecca Wiegartner

Report: U.S. House To Vote On Cannabis Banking Bill Later This Month

Written by Johnny Green on . Posted in Politics.

In order for the emerging cannabis industry to reach its full potential comprehensive federal banking reform will be required. The legal cannabis industry in the United States is conducting billions of dollars worth of transactions annually, with a vast majority of them being cash-based.

Consumers would likely prefer to pay for their cannabis via electronic methods, similar to how they do with almost every other good and service. However, that is not an option in many cases.

Cannabis companies would prefer to be able to make deposits into bank accounts like every other legal business and pay their taxes with a check instead of huge bags of cash. Unfortunately, many cannabis companies have had their bank accounts involuntarily closed or were not allowed to open a bank account to begin with.

It’s a ridiculous situation that is born out of cannabis being prohibited at the federal level. Banking reform is desperately needed to help cannabis consumers and cannabis companies.

A reported vote in the House of Representatives is expected later this month on the SAFE Banking Act, which would help matters considerably. News regarding the expected vote was first reported by Marijuana Moment:

A bipartisan bill to protect banks that service marijuana businesses will get a House floor vote by the end of the month, the office of Majority Leader Steny Hoyer (D-MD) confirmed to Marijuana Moment on Friday.

House leadership announced the decision to Democratic lawmakers at a closed-door meeting on Thursday.

“Mr. Hoyer said at the Whip meeting yesterday that he intends to move it this month,” a Hoyer staffer said in an email. “We’re discussing it with Members, but it hasn’t been scheduled just yet.”

The SAFE Banking Act has bipartisan support in the House and is expected to pass if/when it is put to a vote. It’s unclear what the odds are of the bill passing if it eventually gets sent to the Senate.

Current political forces in the Senate have resulted in most bills that were passed by the House being dead on arrival once they get to Senator Mitch McConnell’s chamber. Will that be the case for this cannabis banking reform measure? Only time will tell.

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Four Reasons Why The Cannabis Industry Could Become Larger Than The Alcohol Industry

Written by Johnny Green on . Posted in Business.

Alcohol sales in the United States topped $250 billion dollars in 2018. By comparison, the legal United States cannabis industry sold roughly $10 billion dollars worth of cannabis in 2018.

Without some context, that might seem like the cannabis industry is small potatoes, however, the numbers are misleading. The alcohol industry is legal in every state in one form or another (regulations vary at the local level), whereas the cannabis industry is still prohibited in many states, particularly when it comes to adult-use cannabis.

The alcohol industry has also been operating legally across the country for many decades after alcohol prohibition was lifted, and even longer prior to alcohol prohibition having been temporarily in effect.

Legal cannabis is still in its infancy and is undergoing a lot of changes on a regular basis. The legal cannabis industry will continue to evolve for the foreseeable future, and we won’t truly know how large the legal cannabis industry will get until a lot of the dust has settled. That will take some time.

However, the unknowns of the legal cannabis industry have not stopped many from speculating that the legal cannabis industry will someday surpass the alcohol industry. Below are four reasons why.

Cannabis is Medicine

The cannabis plant is one of the most versatile plants on earth. It has been used as medicine for thousands of years, and for good reason. Many studies have found that cannabis can treat a number of conditions, from chronic pain to diabetes. Worth noting – no one has ever died from THC toxicity in the history of humanity.

Alcohol, on the other hand, is another story. Alcohol is the third leading preventable cause of death in the United States, with roughly 88,000 people dying from alcohol every year.

Cannabis, like alcohol, can be used as a recreational intoxicant. However, use of cannabis for medical purposes is widespread, and will no doubt increase as the years go by and cannabis stigma continues to fade away. More and more people are realizing the medical benefits of cannabis every year, and that is not something that can be said about alcohol.

Pets

The sector of the cannabis industry that is focused on helping pets is going to grow exponentially in the coming years. Just as the cannabis plant can help humans, it can also help pets. Dosage is obviously different for pets compared to humans and has to be adjusted to match each type of pets’ size and biology.

But the main principle of cannabis being medicine for all types of living creatures is valid. A lot of research needs to be conducted for cannabis products for pets to become more effective. As the demand for cannabis pet products rises, so will research and development for cannabis products for pets.

The pet care market in the United States was valued at over $70 billion dollars in 2018. Not all of that was specifically for pet medications and wellness products, but a good chunk of it was. Cannabis products for pets are going to be a very lucrative sector of the cannabis space in the future, whereas the same is not true for alcohol pet products.

Sports

Sports cannabis is very much in its infancy. The sports cannabis revolution was put into motion by retired NBA All-Star Clifford Robinson when he announced his entrance into the cannabis space in late 2015. Since that time a number of other professional athletes have followed suit, and more amateur athletes are getting on board every year.

Cannabis can absolutely be a part of an active lifestyle and can provide a number of wellness benefits to athletes. It’s no secret that athletes of all backgrounds experience bumps and bruises, and aches and pains. Cannabis is safer and more effective than a lot of wellness products and medicines that are marketed to athletes so it is only logical that many amateur athletes will switch to using cannabis and cannabis products.

Alcohol is popular among athletes for recreational purposes, which is also true of cannabis. However, cannabis has the ability to help treat conditions and help athletes stay healthy, which is a major reason why cannabis will likely be more popular with people that live an active lifestyle than alcohol will be in the future.

Cannabis is a safer alternative

Cannabis has been found to be 114 times safer than alcohol. As previously mentioned, alcohol kills roughly 88,000 people annually in the United States whereas cannabis toxicity has never killed anyone, ever.

Cannabis is a safer alternative to alcohol. It also doesn’t result in a hangover the day after a lot of consumption and is more desirable in a lot of ways compared to alcohol.

People will continue to consume alcohol in the future, and that is their right. However, many millennials have reported substituting cannabis for alcohol, and if that trend continues for millenials and subsequent generations of adults, not only will the legal cannabis industry’s numbers catch up to the current alcohol industry’s numbers, it will also lower the alcohol industry’s numbers in the process.

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How Worried Should Cannabis Consumers Be About Vape Cartridges?

Written by Johnny Green on . Posted in Business, Medical, Science.

The United States has been in the middle of a cannabis vape pen hysteria of sorts for the last week or two. Mainstream media and cannabis opponents seem to be obsessed with the story, insinuating that full blame for the unfortunate deaths that have occurred should be placed completely on cannabis vape pen cartridges.

Every one of the deaths is sad and unfortunate, which is why it has been frustrating for the cannabis community to see many mainstream media outlets and cannabis opponents using the deaths of these individuals to help spread misleading anti-cannabis propaganda.

In recent weeks hundreds of illnesses and half a dozen deaths have been reported across the country, with e-cigarette device usage being pointed to as the likely cause. Some cases involve consumers that have reported using cannabis vape pen cartridges and some involve consumers that reported having only used nicotine-based vaping products.

For whatever reason, THC vape pen cartridges have largely become the focus of mainstream media coverage and accusations from opponents. The fact of the matter is that no one at this point is 100% positive what is causing the illnesses and deaths. Consumers and cannabis companies have to wait for more information to become known.

As previously mentioned, some of the cases involve THC cartridges and some do not. Some cases involve the dilutant additive vitamin E acetate and some do not. Vitamin E acetate and other additives are the most likely suspect, and if that proves to be true, then THC has nothing to do with the situation other than the cannabinoid was also present (in some of the cases).

Illegal, unregulated cannabis cartridges have been flooding the United States, especially in illegal jurisdictions. It’s easy to understand why vape pen cartridges are popular among consumers – they are very convenient, indiscrete, and easy to pack around and use. However, for some consumers, those illegal cartridges have come at a terrible cost to their personal health, and in certain cases, potentially their lives.

When someone purchases a cannabis vape pen cartridge from an unregulated source, there’s no telling what could be contained inside of the cartridge. It’s not the THC that is the issue, it’s whatever else may be in the cartridge. The list of ingredients may or may not even include THC.

Even from regulated sources, there are a lot of compounds that can be used that are not prohibited, including dilutants that are used to make the vape pen oil thinner and therefore easier for devices to turn into vapor.

Consumers should definitely be concerned about vape pen cartridges, and about what they inhale in general. However, that concern needs to be tempered. If you live in an illegal state, you should probably avoid vape pen cartridges altogether since there’s no real way to know what is inside of them.

People may claim to have acquired the cartridges from regulated sources, but that is not always the case, with the most obvious sign being that the packaging has cartoon characters on it. Packaging that could be appealing to children is not allowed in legal markets.

For consumers that purchase vape pen cartridges from legal, regulated dispensaries where they live the best approach is to know where the oil inside of the cartridge came from, what ingredients were used, and specifically if any additives have been put into the cartridge such as ‘natural terpenes’ or dilutants.

Terpenes can be sourced from something natural but that doesn’t necessarily mean that they are safe. After all, you inhale it in vapor form if you are consuming it via a vape pen cartridge, and not eating it in its original form. That’s not to say that every additive is unsafe, but until more research is conducted and definitive scientific conclusions are reached it’s best to err on the side of caution.

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About the International Cannabis Business Conference

International Cannabis Business Conference events are the premier cannabis events for entrepreneurs across the globe. With events in Canada, the United States, Switzerland, Spain, and Germany the International Cannabis Business Conference is where the world meets cannabis. Find out more at InternationalCBC.com and on Twitter, Facebook, and Instagram.

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Banking Association CEO Makes A Big Prediction About Cannabis Banking Bill

Written by Johnny Green on . Posted in Business.

Lack of access to the nation’s financial system has been an ongoing issue for the cannabis industry for many years. The issue is not as big as it once was, and friendly credit unions have been helping fill the void, however, cannabis banking reform is still greatly needed.

The emerging cannabis industry will never reach its full potential if comprehensive banking reform at the federal level remains elusive. Cannabis advocates were hopeful that banking reform would have been passed by Congress by now, but unfortunately, it hasn’t happened yet.

The CEO of the American Bankers Association (ABA) provided new hope for banking reform recently when he made a significant prediction during an interview about the Secure and Fair Enforcement (SAFE) Banking Act, as reported by Marijuana Moment:

“This is legislation that already passed in the House Financial Services Committee early in this calendar year by a huge bipartisan margin, and this is something that I predict…as early as September—probably no later than than October—will pass the full House of Representatives by a bipartisan majority, which is exciting,” he said.

It is somewhat puzzling that the House of Representatives has thus far failed to pass this sensible measure. The cannabis industry is a multi-billion dollar industry and requiring it to be largely based on a cash-only model creates logistical nightmares for cannabis companies and potential public safety issues for society.

SAFE Banking Act has strong bipartisan support, so hopefully the House passes it soon and the Senate does the same quickly thereafter. Large piles of cash are an obvious target for robbers and thieves.

Anyone in the area of a robbery attempt has their personal safety involuntarily put at risk, and because of that banking reform for the cannabis industry is something that everyone should support, regardless of if they are in the cannabis industry or not.

Many cannabis consumers and cannabis companies would prefer to make cash-less transactions rather than all-cash transactions. A banking system is already in place. It shouldn’t be this difficult and Congress needs to get it in gear.

We will be discussing cannabis banking reform and a number of other important topics at our upcoming event in Vancouver, British Columbia September 15-16. A limited number of tickets are still available. Grab yours before they run out!

About the International Cannabis Business Conference

International Cannabis Business Conference events are the premier cannabis events for entrepreneurs across the globe. With events in Canada, the United States, Switzerland, Spain, and Germany the International Cannabis Business Conference is where the world meets cannabis. Find out more at InternationalCBC.com and on Twitter, Facebook, and Instagram.

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Hemp Acres Licensed To Grow In The U.S. More Than Quadrupled This Year

Written by Johnny Green on . Posted in Business.

Hemp is making a comeback in the United States in a major way. Favorable reform provisions in the 2014 Farm Bill paved the way for farmers in a number of states to take advantage of research and pilot programs. Since that time the U.S. hemp cultivation industry has grown exponentially, as demonstrated by statistics.

In 2016 U.S. farmers grew 9,770 acres of hemp. By 2017 that number increased to 25,713 acres of hemp. Some hemp opponents claimed at the time that the dramatic year-over-year increase was due to states just starting their programs and that growth would level off quickly. Time has proven those naysayers to be completely wrong.

Farmers in the United States grew an astonishing 78,176 acres of hemp in 2018 – more than triple the number of acres from the previous year. The 2018 Farm Bill included significant reforms specifically for hemp farmers.

Hemp industry observers have been waiting to see statistics for 2019’s licenses to see what impact the 2018 Farm Bill would have. According to a recently released report, the U.S. hemp industry is growing faster than ever. Per Vote Hemp:

Since the passage of the 2018 Farm Bill, hemp cultivation in the U.S. has grown rapidly. The number of acres of hemp licensed across 34 states totaled 511,442 in 2019—more than quadruple the number of acres licensed from the previous year. State licenses to cultivate hemp were issued to 16,877 farmers and researchers, a 476% increase over 2018.

The hemp plant would have likely been a popular crop for U.S. farmers to cultivate regardless of CBD because of the hemp plant’s versatility. However, the explosion in CBD’s popularity in recent years among consumers has definitely contributed to the exponential growth of hemp cultivation in the United States.

It’s worth noting that just because acreage is licensed to cultivate hemp by a state’s Agriculture Department does not mean that the acreage will successfully produce a harvest and make it to the marketplace. A number of factors could prevent the harvest from occurring.

However, no one can deny that the hemp industry in the United States is experiencing significant growth and that there’s no end to that growth in sight currently. It will be very interesting to see what acreage numbers look like a year from now, five years from now, and beyond.

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About the International Cannabis Business Conference

International Cannabis Business Conference events are the premier cannabis events for entrepreneurs across the globe. With events in Canada, the United States, Switzerland, Spain, and Germany the International Cannabis Business Conference is where the world meets cannabis. Find out more at InternationalCBC.com and on Twitter, Facebook, and Instagram.

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Will Colombia Dominate The Legal Cannabis Export Market In The Future?

Written by Johnny Green on . Posted in Business.

The South American nation of Colombia has been a major exporter of cannabis for many decades, albeit in an illegal fashion. The country is more commonly associated with the illicit cocaine industry, however, Colombia has also long been home to a vibrant cannabis cultivation community.

Colombia is now poised to be a major legal exporter of cannabis to countries around the world due to a number of reasons, not the least of which is its climate which is ideal for cultivating cannabis. Per NPR:

Colombia sits near the equator, giving it 12 hours of daily sunlight year-round. By contrast, countries with seasonal variations require the extensive use of artificial lights, which drives up production costs.

As an emerging venture it’s unclear how the medical marijuana business will play out. For example, it remains illegal to import marijuana-based products into the United States. Due to government bureaucracy in Colombia, it can take months or years for startups to secure the proper permits and licenses.

Yet the uncertainty hasn’t stopped companies from betting big on cannabis.

Land and labor are cheap in Colombia compared to other countries that permit the legal production of cannabis. That, combined with the country’s ideal cultivation conditions, makes the nation the perfect place to cultivate an enormous amount of cannabis that can be supplied to other countries around the world.

To get an idea of where Colombia will likely rank in the global cannabis industry in the future, consider the fact that sungrown cannabis can be cultivated at a cost of roughly $7 per pound in Colombia. Virtually no other nation can match that cost of production, especially at a quality level that matches Colombian cannabis.

Colombia is still dealing with a large amount of stigma due to the drug war, and while a lot of that is born out of Colombia’s cocaine trade, the country’s cannabis industry gets caught in the crossfire. That, in turn, makes Colombian lawmakers and regulators hesitant to open up the industry in a more significant fashion.

However, as time goes by Colombia’s leadership will no doubt see the global demand for legal cannabis increasing, the stigma surrounding the cannabis plant diminishing, and will recognize that Colombia is uniquely positioned to take advantage of the opportunities in the global cannabis market.

When that happens Colombia may very well become the top cannabis exporting nation on the planet.

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About the International Cannabis Business Conference

International Cannabis Business Conference events are the premier cannabis events for entrepreneurs across the globe. With events in Canada, the United States, Switzerland, Spain, and Germany the International Cannabis Business Conference is where the world meets cannabis. Find out more at InternationalCBC.com and on Twitter, Facebook, and Instagram.

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Canadian Attorney Is Preparing A Court Challenge Against Incoming Rules For Cannabis Edibles, Extracts, And Topicals

Written by Johnny Green on . Posted in Business, Medical.

In June, Canadian cannabis industry regulators published their final rules regarding THC limits for cannabis edibles, extracts, and topicals. The rules, which are set to take effect in October, leave a lot to be desired. That is especially true for cannabis edibles, which have a limit of 10 mg of THC per package.

To put that number into perspective, the state of Oregon permits 50 mg of THC per edible package for adult-use cannabis products, and 100 mg of THC per edible package for medical cannabis products.

Prominent Canadian attorney John Conroy is reported to be preparing a court challenge to the new rules, as first reported by Georgia Straight:

In a phone interview with the Georgia Straight, John Conroy said the looming limits of 10 milligrams of tetrahydrocannabinol (THC) per package of edible cannabis, 10 milligrams of THC per unit of cannabis extracts, and one gram per package of cannabis extracts fall far short of what’s required by some medicinal users.

The prospective case involves an unnamed mother of a young child who requires high-end extracts to treat multiple seizures.

“You’ve got kids with significant medical issues whose parents have got them medically approved for high-end concentrate extracts—and they still won’t be able to get them legally,” Conroy said. “So the government is once again failing to prevent the violation of the constitutional rights of medically approved patients.”

From the very beginning of the legal cannabis industry launching in Canada, and many parts of the United States, cannabis opponents and regulators have made a huge push to limit the amount of THC that a consumer or patient can purchase.

A lower THC limit may be fine for new cannabis consumers that have a low tolerance, however, for even semi-regular cannabis users a 10 mg THC limit is unreasonably low, and as John Conroy points out in the linked-to article, it can be devastating for patients.

Incoming Canadian rules and going to be covered in depth at our upcoming International Cannabis Business Conference in Vancouver, B.C. September 15-16. John Conroy is a scheduled speaker and you will not want to miss out on hearing what he has to say.

Canada’s cannabis industry is at a critical juncture with a lot of moving parts and a shifting landscape. Join us in Vancouver later this month to learn about the vital, timely information that you need to know!

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About the International Cannabis Business Conference

International Cannabis Business Conference events are the premier cannabis events for entrepreneurs across the globe. With events in Canada, the United States, Switzerland, Spain, and Germany the International Cannabis Business Conference is where the world meets cannabis. Find out more at InternationalCBC.com and on Twitter, Facebook, and Instagram.

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USDA’s Canada Hemp Industry Report Demonstrates Regulatory Hurdles

Written by Johnny Green on . Posted in Business.

The United States Department of Agriculture (USDA) recently published a report containing the agency’s assessment of Canada’s hemp industry. The report illustrates ongoing regulatory hurdles that hemp farmers are facing in Canada, some of which are similar hurdles that hemp farmers are experiencing in the U.S and others being unique.

Federal legislation in Canada resulted in the re-introduction of hemp cultivation in 1998. Canada’s current hemp laws come from the 2018 Cannabis Act. According to the report, 77,800 acres of industrial hemp were planted in Canada in 2018. To put that figure into perspective, 78,176 were planted in the U.S. in the same year.

Major takeaways from the USDA report about Canada’s hemp industry include:

  • Hemp varieties will continue to be strictly controlled by the federal government and producers may only plant varieties from the official List of Approved Cultivars
  • Producers are not allowed to keep hemp seeds for planting, and every growing season producers must purchase government certified seeds
  • High-CBD varieties have yet to be registered for use in Canada
  • All cannabinoids in the cannabis plant, including CBD and THC, are regulated in the same way
  • Currently, the sale of natural health products (NHPs) containing any cannabinoid (including CBD) in Canada is prohibited

As you can see from the list above, Canada’s hemp regulations are not as favorable in some ways compared to the United States. As such, the CBD-industry in the United States is creating better opportunities than in Canada.

That is reflected in the exponential growth found in the data for hemp acres planted in the United States this year. As previously mentioned, last year 78,176 acres of hemp were planted in the U.S. In 2019, Oregon farmers alone have planted over 50,000 acres. Other U.S. states are experiencing similar growth.

Hopefully, Canadian regulators and lawmakers pass measures soon to improve the parameters which hemp farmers and entrepreneurs are bound by. CBD is in huge demand right now and that demand is increasing with every passing day. Hemp is an agricultural crop and should be regulated accordingly in Canada, and everywhere else.

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About the International Cannabis Business Conference

International Cannabis Business Conference events are the premier cannabis events for entrepreneurs across the globe. With events in Canada, the United States, Switzerland, Spain, and Germany the International Cannabis Business Conference is where the world meets cannabis. Find out more at InternationalCBC.com and on Twitter, Facebook, and Instagram.

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Learn The Latest About B.C Cannabis Regulations At Our Event In Vancouver

Written by Johnny Green on . Posted in Vancouver.

The cannabis industry is one of the most heavily regulated industries on the planet. It’s one of many reasons why being a cannabis entrepreneur requires conducting constant research.

It only takes one misstep for a cannabis company to be out of compliance and if that happens the company risks receiving negative media coverage, losing customers, and possibly even being shut down.

In order to know how to be compliant with all laws, rules, and regulations a cannabis company needs to first know what the regulations are in the first place.

That is true for cannabis companies across Canada, including in Vancouver, British Columbia. Cannabis is legal for adult-use in Canada, but industry regulations are still evolving.

The International Cannabis Business Conference is being held in Vancouver, British Columbia September 15-16 and it is the best place to learn the latest about regulations in British Columbia from true experts.

A conference panel dedicated to cannabis regulations in Vancouver and British Columbia will include John Conroy (Conroy & Company), Andrew Gordon (Strategic Partnerships and Community), Dori Dempster (The Medicinal Cannabis Dispensary), and Jamie Shaw (Pasha Brands).

Vancouver and B.C. have a great tradition of pioneering cannabis policies, but regulations pose challenges for the legal market, both for businesses and regulators. This panel will cover the latest regarding local cannabis policies and the hurdles and opportunities of navigating the landscape of a market with such a rich history of unregulated cannabis commerce.

Additional conference topics and panels will include:

  • Regulatory models for edibles, topicals, and extracts

  • Mergers and acquisitions

  • Vetting investments with an eye on emerging international markets

  • Craft cannabis

  • Cannabis exports

  • Extraction science and technology

  • Strategic partnerships

The International Cannabis Business Conference is known for its networking opportunities and our Vancouver event will be no exception.

This year’s Vancouver event will feature a yacht after-party headlined by DJ Muggs of Cypress Hill. You do not want to miss it!

Tickets are available online or by telephone at 541.864.0090.

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About the International Cannabis Business Conference

International Cannabis Business Conference events are the premier cannabis events for entrepreneurs across the globe. With events in Canada, the United States, Switzerland, Spain, and Germany the International Cannabis Business Conference is where the world meets cannabis. Find out more at InternationalCBC.com and on Twitter, Facebook, and Instagram.