West Virginia Archives - Green Market Report

StaffOctober 11, 2022
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The Daily Hit is a recap of cannabis business news for Oct. 11, 2022.

ON THE SITE

More MSOs Move Into West Virginia’s Medical Marijuana Market

As the medical cannabis industry in West Virginia begins to bear fruit, the state is finding more multistate tenants vying for a slice of the pie. Canadian-based Heritage Cannabis Holdings (OTCQX: HERTF) said that has officially begun operations in the state alongside its production partner, Harvest Care Medical, joining the likes of Trulieve (OTC: TCNNF), Verano Holdings (OTC: VRNOF) and Columbia Care, which is now owned by Cresco Labs (CSE: CL). Read more here.

Michigander Sues New York Over Residency for Cannabis Licenses

Variscite NY One, an LLC owned by Kenneth Gay, is suing the state of New York, the New York State Office of Cannabis Management, and its executive director, Christopher Alexander, over the state’s decision to award its first cannabis licenses to New Yorkers who have been incarcerated or arrested for the plant. Read more here.

Vermont Launches Adult-Use Sales, Dozens More Retailers Yet to Open

Vermont launched recreational cannabis sales the first day of October, and though the operators who did open their doors were delighted by the customer turnout, they also know more competition is right around the corner as additional stores continue to open. Read more here.

Court Ruling Could Pave Way for Cannabis Paraphernalia Imports, Exports

According to Above the Law, Canada-based Eteros Technologies was stopped by Customs and Border Protection while importing automated trimming machinery to Washington state last year. Eteros sued, arguing that there’s an exemption written into the Controlled Substances Act for localities that have legalized cannabis where paraphernalia is concerned. Read more here.

IN OTHER NEWS

Cansortium

Cansortium (CSE: TIUM.U) (OTCQX: CNTMF), a vertically integrated cannabis company operating under the Fluent brand, announced that Patricia Fonseca will resign as chief financial officer of the company, effective Nov. 21. Fonseca has been with the company since March 2021. Read more here.

Fire & Flower Holdings Corp.

Fire & Flower Holdings Corp. (TSX: FAF) (OTCQX: FFLWF), a cannabis consumer retail and technology platform, entered into an amended and rested option agreement with an option to acquire Fire & Flower U.S. and an amended licensing agreement to deploy the Hifyre technology platform in the United States. Fire & Flower U.S. is also in the final stages of submitting applications for five cannabis retail store locations in the state of New Mexico. Read more here.


Debra BorchardtApril 13, 2021
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Florida-based Trulieve Cannabis Corp .  (OTCQX: TCNNF) is continuing its expansion efforts and the latest state to plant its flag is West Virginia. Trulieve has acquired Solevo Wellness West Virginia LLC (“Solevo”) and its three West Virginia dispensary permits for $650,000. Solevo was awarded two permits in Morgantown and one in Parkersburg in January 2021 as part of the West Virginia application process.

“This acquisition enables Trulieve to broaden and solidify our position in the newly created West Virginia market. Solevo was granted three dispensaries as part of the application process entered by the company before becoming part of the Trulieve family. Adding Solevo to our production and dispensary permits, as well as our recently announced definitive agreement to acquire Mountaineer Holdings and its cultivation and dispensary permits, will create a fully vertical presence in the state with nine dispensaries,” said Kim Rivers, CEO of Trulieve. “We look forward to providing the highest level of cannabis products and customer experience through authentic and reciprocal relationships to West Virginia patients.”

West Virginia Has  A Long Way To Go

West Virginia is currently a medical-only state and at this time residents can only register for access to medical marijuana. The state still needs to partner with a testing lab before any products will be available for sale. Patients have to have approval from a doctor and so far, only 30 physicians in the state are eligible to approve a person for medical marijuana. It was four years ago that medical marijuana was legalized in the state, but patients still can’t get it. The state has managed to issue licenses for growers, processors, and dispensaries.

Recently legislators were unable to pass a law decriminalizing adult-use cannabis as fears of such a move meant full legalization.

Matt Simon, a senior legislative analyst for the Marijuana Policy Project, told The Center Square, “Patients in West Virginia have been waiting a long time for safe, legal access to medical cannabis. It has been nearly four years since Gov. Justice signed the medical cannabis bill into law, and there’s no reason the rollout should have taken this long. Other states have been able to implement similar programs in a fraction of the time it has taken West Virginia. Still, the fact that dispensaries have finally been licensed and patients are finally able to register for the program is an important step forward. We look forward to the day that patients will finally be able to obtain medical cannabis from dispensaries in West Virginia.”


Cynthia SalarizadehOctober 12, 2017
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For anyone who truly understands the art of influence, they understand that the most effective form of communication for any brand, idea or movement is grassroots based and best achieved through basic word of mouth, and ideally in person. That is the secret sauce to influential bodies for anything I can think of.  This is also what defines our nation’s capitol, Washington D.C. This is the heart of where our federal government resides and therefore where cannabis requires the most influence and lobbying effort on a federal level.

In our fourth study for the Green Economics series, analyzed in collaboration with our partner data provider Consumer Research Around Cannabis, we took a look at the consumer profile and opinions of those who live and operate in the D.C. Market. We dove into what the patterns and data provided on their opinions and behavior. What we found was a little more than interesting indeed.

The data that was collected used a sample size of 1,368 survey respondents within the D.C. Market that representing an estimated 5,187,362 adults and includes adjacent portions of Virginia, Maryland, and West Virginia along with the District of Columbia. Of that group 8.0% of the market responded that they had purchased cannabis from a legal retailer/dispensary.

In response to what the numbers revealed for this market, Jeffrey Stein of Consumer Research Around Cannabis stated that, “I think it’s clear that the data debunks many of the negative connotations attached to cannabis use – whether for medicinal or recreational use.  They are well educated, have good jobs and are financially sound.  Cannabis consumer data like this should be a wake-up call to government officials and companies that have thus far ignored this growing consumer group.”

The legal cannabis consumer was 30% more likely to be employed full-time versus the average adult in the D.C. market. As far as the occupations for this consumer, we found that almost 32.3% are considered professional, 55.3 % are labeled “white collar” while only 7.5% were considered “blue collar”, 30.5% own businesses, are a partner in a business or are at the level of corporate officer. These are occupations that are far from what the old stereotype of a “stoner” was thought to be doing with their careers.

In regard to political affiliation, 48% of the D.C. market cannabis consumer consider themselves as Independents, which is 16% higher than the local DC market average.  They are less likely than average to have voted Democrat last time around (77 index, 23% less likely vs. the average DC market adult).  They are also slightly less likely to consider themselves liberals than the average (96 index, 4% less likely vs. the average DC market adult).

When looking at the income of cannabis consumers in the D.C. Market, we see that almost 76% of them make a household over $50,000 a year or more, with 37% saying they are making over $100,000. As far as education, the numbers were impressive. 68.3% have at least an undergraduate degree or more with 36.3% have advanced degrees, which is 47% higher than the market average for D.C.

What we found extremely interesting in this study, was that that 38% are more likely to have a government job than the average person. Of that amount of government employees, 64% approve of either legalized adult use or medical only regulation, with 11% disapproving of legalization of both. Almost 25% are of no opinion on the issue.

“Considering Washington DC is where our federal legislation is created, results that indicate a significant number of government employees favoring the legality of its consumption as well as consuming it themselves, is clear indication that prohibition is outdated,” said Stein.

Government employees represent 17.9% of cannabis consumers who use cannabis for relaxation when alone, 20.5% purchase cannabis to enhance their experiences on their free time and with friends, and 18.1% buy cannabis to use it for its ability to suppress depression and anxiety.

Of the people who visited a cannabis retailer or dispensary 3 or more times a month. 34.1% were government employees. This same group represented 31.2% of customers who visited 3 or more times a week. 37.3% spending between $100-299 on flower and 50% spending $300 or more on concentrates are government employees.

So, we can conclude that a large segment of the D.C market cannabis consumer is smart, comfortably employed, educated, a government employee or professional, and loves their concentrates! Let’s hope this sophisticated group can help influence on federal policy toward cannabis prohibition in a positive way. They are arguably positioned best to help influence advance the industry with better legislation best.


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