The Daily Hit: Today's Cannabis Briefs

Here are the day’s cannabis news briefs for March 23, 2018.

A spending bill passed by Congress early Friday contains language that renews restrictions on the use of federal funds to interfere with state medical marijuana programs. While the president made it sound like he wouldn’t sign the bill, the latest news is that he does intend on signing the legislation. The rider called the Rohrabacher-Blumenauer amendment will continue to prevent the Department of Justice from spending any money to go after medical marijuana patients and providers who comply with laws in states where medical marijuana is legal. The budget is good until September 30 and the rider would need to be renewed in the FY2019 spending bill. This language was originally approved in 2014 and has been included in every subsequent budget agreement.

What didn’t happen was a separate piece of legislation that would have protected recreational marijuana businesses. That was not approved by House Republicans to go to the floor for a vote.

InMed Pharmaceuticals Inc.

Biopharmaceutical company InMed Pharmaceuticals (IMLFF) that specializes in the research and development of novel, cannabinoid-based drug therapies announced that is has received final approval for the listing on the Toronto Stock Exchange.

Maricann Group Inc.

Maricann Group (MRRCF) announced that on March 20, 2018, it received an occupancy permit from Norfolk County for Phase One of its new grow facility in Langton, Ontario. The company is now ready to begin cultivation in its Canadian expansion subject to receipt of Health Canada approval.  Phase One is expected to increase the Company’s annual growing capacity to 25,000 kg of dry cannabis flower per year. Phase One is the first 217,000 square feet of a planned 942,000 square foot facility.

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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


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