CAURD Archives - Green Market Report

StaffDecember 13, 2022
daily-hit.jpg?fit=700%2C394&ssl=1

6min10020

The Daily Hit is a recap of cannabis business news for Dec. 13, 2022.

ON THE SITE

Green Thumb Taps New Executives in C-Suite Shuffle

Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF) has chosen four new executives to help spearhead the Chicago-based operator’s management team, the company said in a Tuesday release. The news comes a couple months after three of Green Thumb’s four independent board members departed in in October, along with company’s general counsel and corporate secretary, Beth Burk. All three directors were part of the company’s audit committee. Read more here.

High Tide Begins Selling Cannabis Seeds to US After DEA Signs Off

Canadian-based marijuana company High Tide (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA) has commenced online sales of cannabis seeds directly to U.S. consumers, now that the U.S. Drug Enforcement Agency clarified earlier this year that it considers seeds to be akin to hemp, which is federally legal. Read more here.

Laid-Off Trulieve Worker Files Possible Class Action Suit

Florida-based Trulieve (CSE: TRUL) (OTCQX: TCNNF) may have a class-action lawsuit on its hands now that one ex-worker has filed suit against the business and is claiming she and “other similarly situated employees” didn’t receive a mandatory 60-day notification prior to losing their jobs. Read more here.

New York Hosts Dispensary Showroom in The Bronx

Bronx Community Foundation, partners, and CAURD applicants launched The Bronx Dispensary Showroom: A Cannabis Retail Pop-Up Experience recently. It featured a built-out model of a New York State-compliant dispensary, demonstrating the entire cannabis retail experience. Educational and workforce programming focused on opportunities to build generational wealth in under-resourced communities harmed by cannabis prohibition. Learn more here.

Could Residency Lawsuits Upend Social Equity in Cannabis?

A series of lawsuits challenging residency requirements in at least three states has some advocates of cannabis industry social equity programs worried that those programs could be in jeopardy. And they have good reason to be concerned. Read more here.

Earnings:

IN OTHER NEWS

New Hampshire

The Democratic and Republican leaders of the New Hampshire House of Representatives announced on Monday that they will be jointly filing a bill to legalize marijuana for the 2023 session – a bipartisan effort that’s backed by key advocacy and industry stakeholder groups. Read more here.

Massachusetts

Cannabis prices in Massachusetts have been steadily decreasing for more than a year, and those running businesses in the burgeoning industry expect them to keep dropping. While customers may be rejoicing over greater access to marijuana, the lowering of prices has some concerned about the ramifications for cultivators, small businesses, and the employees that make it all run. Read more here.

Washington state

Looking to the new year, some of Washington state’s cannabis businesses are focused on safety challenges, including ongoing store robberies, and preparing for the potential of interstate marijuana commerce. That’s according to the Washington CannaBusiness Association (WACA), a trade association in the state that represents marijuana retailers, producers, processors, transporters and banks. Read more here.


Video StaffDecember 13, 2022

3min10310

Bronx Community Foundation, Partners, and CAURD Applicants launched The Bronx Dispensary Showroom: A Cannabis Retail Pop-Up Experience recently. It featured a built-out model of a New York State-compliant dispensary, demonstrating the entire cannabis retail experience. Educational and workforce programming focused on opportunities to build generational wealth in under-resourced communities harmed by cannabis prohibition.

The Showroom is The Bronx Community Foundation’s latest initiative to provide resources and education about cannabis to CAURD license applicants and other community members. In July 2022, The Foundation partnered with The Bronx Defenders to launch The Bronx Cannabis Hub, which has provided support—including application and legal assistance—to CAURD license applicants. The Hub has worked with hundreds of New Yorkers, helping 35 apply for CAURD licenses.

The CAURD licenses process stems from New York State’s Marihuana Regulation and Taxation Act (MRTA) which passed in 2021 with social equity provisions that include reserving the State’s first 150 retail cannabis licenses for New Yorkers who have been directly impacted by cannabis prohibition.

The MRTA’s social equity provisions were created in recognition of the harms that cannabis prohibition caused, particularly in communities of color. In New York City, in the decades leading up to legalization, well over 90% of the people arrested for marijuana offenses were people of color, despite usage rates being equal across races. In 2011 alone, over 50,000 people — overwhelmingly and disproportionately young men of color — were arrested for low-level marihuana possession in New York City.

Disproportionate policing led to these communities suffering harm, including arrests, convictions, jail time, loss of housing, inability to get student loans, family separation (ACS taking children because of marijuana use), and deportation.

The impact was most harmful in communities like The Bronx. A 2018 Report by NYC Comptroller Scott Stringer examined the neighborhoods with the highest rates of marijuana-related arrests in NYC between 2010 and 2017. Nearly half of all neighborhoods in the Bronx were among the top ten by arrest rate.

In late November 2022, New York State’s cannabis regulators announced the first 36 license recipients (individual businesses and nonprofits) from a pool of 903 applicants. The first of these retail locations is expected to be in operation by the end of the year.


Choose Your News

Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox.

 Subscribe

By continuing I agree to your Privacy Policy and consent to receive relevant newsletters and other email communications on events, editorial features, and special partner offers from Green Market Report. I can unsubscribe or change my email preferences at any time.


About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


READ MORE



Recent Tweets

@GreenMarketRpt – 2 hours

FDA Says CBD Still Can’t Be Dietary Supplement

@GreenMarketRpt – 7 hours

Mind Cure Continues Its Winding Down Process

Back to Top

Choose Your News

Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox.

 Subscribe

By continuing I agree to your Privacy Policy and consent to receive relevant newsletters and other email communications on events, editorial features, and special partner offers from Green Market Report. I can unsubscribe or change my email preferences at any time.