Canada is in the process of regulating recreational marijuana so the geniuses in the government of Ontario have declared that all marijuana will be distributed through “Ontario Cannabis Retail Corp.” On the other hand, the western provinces are open to pretty much anybody who meets the legal criteria.
I’ll give you three guesses where the money is going.
This is from Markets Insider
CALGARY, Nov. 21, 2017 /CNW/ – Inner Spirit Holdings Inc. (“Inner Spirit” or “the Company”), a specialty retailer and franchisor establishing recreational cannabis dispensaries across Canada, today announced that it has executed 55 franchise agreements ahead of the country’s planned recreational cannabis legalization in July 2018
“Realizing the significant opportunity associated with Canada’s legalization of recreational cannabis, we created the Spiritleaf brand and began marketing franchises in May of 2017 with the goal of recruiting 100 qualified entrepreneurs who want to work together to build an iconic Canadian brand,” said Darren Bondar, CEO of Inner Spirit. “I am very encouraged by the interest we have received so far, and it has increased significantly given the cannabis framework announced by the Government of Alberta last week.
Meanwhile back in Ontario:
Before Cannabis Culture co-owner Jodie Emery was arrested in March, she had big plans for her lounge and dispensary franchise model.
Now most of them are shut down, and Emery is on bail facing charges related to trafficking and other allegations.
Something else that I find interesting is that on Ontario’s legalization page there’s no mention of “Ontario Cannabis Retail Corporation”, only an unnamed subsidiary.
We are proposing that the Liquor Control Board of Ontario (LCBO) oversee the sale and distribution of recreational cannabis through a subsidiary corporation, taking advantage of its experience in distributing controlled substances and commitments to social responsibility.
Is it just me, or does this whole thing simply reek of the “old boy network?”
CPA’s in Arkansas can now serve licensed medical marijuana firms.
LITTLE ROCK (KFSM) — Arkansas accountants might have been given the all clear to provide professional services to medical marijuana businesses in the state, but some of the largest accounting firms in Northwest Arkansas and the Fort Smith metro are weighing their options on whether they’ll serve them anytime soon.
On Aug. 18, the Arkansas State Board of Public Accountancy concluded accountants who provide professional services to medical marijuana businesses that are licensed or in the process of being licensed to operate in Arkansas will not be perceived as lacking “good moral character,” and the service provided won’t be “considered an act discreditable to the profession.”
From the Cannabist:
CARSON CITY, Nev. — Nevada moved Thursday to reduce supply problems at recreational marijuana stores that have faced overwhelming demand for newly legal pot and the possibility of their shelves going empty.
Regulators approved emergency rules that would speed up licensing for pot distributors, a sticking point that launched a legal battle and threatened the flow of supplies after dozens of retailers started selling recreational marijuana on July 1.
Nevada’s law is unique among legal pot states, dictating that only alcohol wholesalers can transport the drug from growers to storefronts for the next 18 months. But the state rewrote the rules Thursday used to enforce the state’s pot law to make it clear that it’s legal under certain circumstances to license some retailers to transport pot from growers to storefronts.
Hawaii legalized medical marijuana nearly 17 years ago, they started licensing dispensaries in 2015, but they still haven’t approved any labs to perform the required tests on the product.
This is from the associate Press:
HONOLULU (AP) — Medical marijuana dispensaries are beginning to open in Hawaii, but they’re not allowed to sell their products.
Instead, the leafy medicinal greens they’ve harvested are sitting on a shelf unsold because nearly a year after dispensaries were legally allowed to open, the state has not yet certified any labs to run required safety tests.
That means dispensaries such as Aloha Green on Oahu have no income despite payroll, rent and operations expenses that top $100,000 a month.
The dispensaries were supposed to open in July 2016, but legislators haven’t approved any software to track product from seed to shelf.
The labs haven’t been able to test the product because the regulations were changed.
With both politicians and bureaucrats involved nothing can possibly get done quickly.
According to this article in Leafly, the former Seminole chairman, Jim Billie is trying to bring the MMJ industry to Indian lands.
On Tuesday, Nevada-based Electrum Partners announced a partnership with MCW, a company owned by Billie, the longtime Seminole leader who lost his official tribal position in October 2016. The Seminoles, one of the most well-known names in Indian Country, currently own and run five Seminole Casinos in addition to two Hard Rock Hotel & Casino facilities in Florida.
Judging by their success in the gambling industry, once it gets through the courts they should do well.
The passage of the Indian Gaming Regulatory Act in 1988 eventually led to a dispute between the Seminole Tribe and the state of Florida, with Billie spearheading the effort to have the case heard by the United States Supreme Court. The court found in favor of the tribe’s right to apply sovereignty to gaming operations. Thanks to that decision, the tribal gaming industry has grown into a $27 billion industry, or more than twice the annual revenue of the National Football League.