Connect with us

Cannabis News

Idaho Medical Marijuana Campaign Says Legalization Ballot Measure Would Generate $100 Million In Annual Sales

Published

on

Idaho could see more than $100 million in medical marijuana sales and up to $28 million in new revenue for state coffers under a legalization measure activists are working to put on the November ballot, according to a new economic analysis released by the campaign.

The Natural Medicine Alliance of Idaho (NMAI) announced this last week collected enough signatures for an initiative to legalize medical cannabis To pass the statewide threshold for ballot qualification, it commissioned the firm Younger Associates to do two fiscal projections of the proposal, using Utah’s medical marijuana program as a model.

“Based on Utah’s participation trajectory, Idaho supports approximately 63,000 active patients and $108.5 million in annual retail sales by Year 6,” the analysis states.

Under the first revenue scenario, a 6 percent state sales tax would be applied to marijuana sales and there would also be a $100 annual patient registration fee, which would generate about $6.5 million in sales tax revenue and $6.3 million by the program’s sixth year.

The second revenue scenario includes the same patient registration cost and sales tax, but also adds an additional 14 percent fee collected at the point of sale. It would generate about $21.7 million a year in tax and fee revenue, in addition to about $6.3 million in annual patient card fees, to bring in $28 million a year from the state.

“Actual revenue will ultimately depend on the final program design and implementation decisions made by the State.” the report he says

In addition to the economic analysis, the NMAI also released a new short video this month saying the measure proposes “strictly regulated market access” for cannabis and treats patients “with dignity rather than fear or stigma.”

The video also features medical marijuana as an “alternative to the devastating effects of opioids” and the initiative “supports local jobs, Idaho agriculture and generates tax revenue while maintaining strong enforcement standards to prevent misuse.”

“This is not about recreation, it’s about care,” he said he says. “The law provides medical freedom to patients to consult with their physician about their health conditions and assert their right to make choices about their own care.”

But since it’s unclear how many signatures the campaign has collected so far and whether activists have met another requirement for petitions to be distributed regionally, NMAI continues to hold signature-gathering events across the state to expand its coalition of supporters ahead of the May 1 submission deadline.

Amanda Watson, communications manager for NMAI, told Marijuana Moment on Wednesday that organizers “feel very confident that we will qualify for the ballot in November.”

As of this week, NMAI has collected more than 73,000 total signatures — surpassing the statewide requirement of 70,725 for valid petitions — according to the campaign’s website.

To be certified on the ballot, the group must also submit the signatures of at least 6 percent of registered voters in at least 18 of the state’s 35 legislatures. Marihuana Moment reached out to NMAI for a status update on progress toward that goal, but a representative was not immediately available.

Meanwhile, groups of paid and volunteer applicants they are expanding across the state to high-traffic areas to collect signatures, and the NMAI website has a map showing where registered voters can go to sign.

The Idaho Medical Cannabis Act, introduced by NMAI last October, would provide patients with access to marijuana from a limited number of dispensaries and provide a regulatory framework for the market.

Here are the main provisions Idaho Medical Cannabis Law:

  • Healthcare practitioners may recommend medical cannabis to patients with conditions including cancer, anxiety and acute pain.
  • Medical marijuana patients or designated caregivers can purchase up to 113 grams of cannabis for smoking or 20 grams of THC extract for vaporization per month.
  • The state would issue three vertically-integrated cannabis business licenses, and then potentially six licenses in total.
  • Marijuana would be reclassified under state law, Title II.
  • State and local law enforcement would be prohibited from assisting in drug enforcement activities related to the state’s illegal cannabis program.
  • There would be anti-discrimination protections for those who use or sell marijuana in compliance with state laws, preventing adverse actions by employers, landlords and educational institutions.
  • There does not seem to be any equity-based reform, nor will the initiative be given the opportunity to grow at home.

“We believe Idahoans deserve access to legal, compassionate and natural care right at home,” NMAI’s website states. “Our mission is to provide patients with a legal path to natural medicine to relieve suffering and restore dignity without the fear of addiction.”

“The Idaho Medical Cannabis Act is our first step. It creates a safe and strictly regulated medical program that allows qualified Idahoans to seek medical treatment for cannabis with a valid diagnosis from a health care provider.” he says. “It supports Idaho agriculture, generates tax revenue to reinvest locally and ensures patients can find natural relief.”

Last month, the campaign also released the results of a statewide poll shows that 83 percent of likely voters support the legalization of medical cannabisincluding 74% of Republicans, 95% of Democrats and 92% of independents.

When asked how they would vote if the current legalization of cannabis appears on the November ballot, 76% of respondents said “yes”. Of that cohort, 50 percent said they would “definitely” vote yes, while only 21 percent said they would vote “no.”

After introducing the medical cannabis initiative last year, a separate 2024 campaign, Kind Idaho, told supporters it would cancel its signature drive. ballot initiative to legalize the personal possession and cultivation of marijuana the adults

Pleasant Idaho previously put medical marijuana ballot measures before voters Both in the 2022 and 2024 elections, but the efforts were unsuccessful.

Meanwhile, this year voters will see a different type of proposal on the ballot: the constitutional amendment approved by the legislature to make it so. only members of the legislature can legalize marijuana or other controlled substances.


It’s Marijuana Time tracking hundreds of cannabis, psychedelic and drug policy bills in state legislatures and Congress this year. Patreon supporters by pledging at least $25/month, you’ll get access to our interactive maps, charts, and audio calendars so you never miss a development.


Learn more about our marijuana bill tracking and become a Patreon supporter to gain access

Lawmakers held a separate hearing last March to discuss it bill to legalize medical cannabisbut in the following months there has been no significant action on the matter.

Separately, it would be a bill from last year by Rep. Bruce Skaug (R). set a mandatory minimum fine of $420 for possession of cannabisremoving judges’ discretion to apply lower sentences. Skaug said the bill, which ultimately stalled in committee, would send a message that Idaho is tough on marijuana.

Members of the House of Representatives were also admitted bill to ban marijuana adsalthough the Senate later defeated the measure.

user photo Max Pixel.

Marijuana Moment is made possible with the help of readers. If you rely on our pro-cannabis journalism to stay informed, consider a monthly Patreon pledge.

Become a patron on Patreon!

Cannabis News

Entourage Health, formerly WeedMD, enters creditor protection

Published

on

By

Entourage Health Corp. has entered creditor protection. The company and six related entities filed on June 17 under the Companies’ Creditors’ Arrangement Act owed approximately $240.1 million to the sole affiliate of the LiUNA Pension Fund, its owner, its secured creditor and the lender that is now funding the money (First Report pp. 3-6-9

That affiliate, 2437653 Ontario Inc. No. 1 company, Entourage, secured a 2024 deal that took the former WeedMD private and off the TSX Venture Exchange (December 2024 PR). Shareholders were paid half a Canadian cent per share, or C$0.005, and the board recommended a sale in December 2024 (December 2024 PR).

Jason Alexander, head of the special committee of independent directors, recommended to shareholders. “The transaction ensures that shareholders will receive immediate tangible value while positioning the Company for future growth and flexibility,” Alexander said (December 2024 PR). The company took on $167.6 million in debt in that sale, having already breached the covenant with the same guarantee (December 2024 PR). Eighteen months later that debt was $240.1 million when it was filed, and the growth promised by the sale is a settlement (First Report 6-18 p.

Adult use is off, medical is still running
The leisure business is closing, not saving. Entourage laid off about 53 workers in early June before the order, and 22 remain (First Report p. 6 Adult use inventory is being cleared, finished products are shipped to provincial distributors, and flowers are sold in bulk to the market to other licensed growers (First Report p. 12 Color Cannabis, Dime Bag and Saturday Cannabis are the brands going down with it (First Report p. 5

What remains open is the doctor’s arm as the exclusive supplier of cannabis under the Starseed brand to local residents of the Workers International Union of North America (First Report p. 5 The pension fund that funds the procedure is tied to the same union that the medical brand serves, and the part of Entourage that serves union members is the part that is kept alive while the rest is sold for parts.

At the end of July the money runs out with no new money (First Report p. 11 The money comes again from the pension fund affiliate, a $1.1 million debtor-in-possession facility at 5% per annum, no commitment fee, no exit fee (First Report pp. 10-11). The monitor, Ernst & Young, checked terms against other DIP loans in the cannabis sector from January 2024 and concluded that a third-party lender would not lend on better terms given the state of the business (First Report p. 11 The lender, which already owed $240 million, is the only one willing to advance another million to keep the lights on through the sale.

Health Canada is the largest unsecured creditor, owed $494,505, ahead of all suppliers and competitors on the company’s books (List of Creditors p. 1 Supreme Cannabis is owed $262,133, medical platform HelloMD is owed $169,564, the Town of Aylmer is owed $144,815, the Independent Retail Cannabis Board is owed $137,098 and High Tide is owed $124,583 (List of Creditors p. 1 Unsecured claims total $3,288,333 in more than 100 names, many of which have yet-to-be-determined amounts by medical clinics (List of Creditors 1-5 p. Against $240 million guaranteed, none of them will see much.

In the June 29 return, the lender asks the judge to extend the stay until August 28, approve the DIP facility, and double the Administrative and Directors fees to $500,000 each (First Report 4-8-12. p. The directorship is rising as directors face payroll, holiday pay and excise duties over a longer period of time, and the company’s directors and officers insurance expires at the start of July (First Report p. 12

The sales process starts on the same day, based on a marketing effort that started around May and was presented before the deal that sparked interest but no one could make a deal (First Report p. 13 Insiders and affiliates have until July 6th to say they intend to bid, the bid deadline is July 30th, the successful bid must be received by August 7th, and the outside deadline is August 28th (First Report p. 15 The affiliate of the pension fund has written to the Monitor that it will not make an offer (First Report p. 16), and any other affiliate that does so must be removed from the process (First Report p. 16 The settlement request for non-cannabis equipment and the sale of the Aylmer facility, a 26,000-square-foot extraction and processing facility that has been the company’s production base at 250 Elm St.

the source

For more information:
Neighborhood Health
1.844.933.3636
(email protected)
entouragehealthcorp.com

Continue Reading

Cannabis News

DEA And FDA Highlight How Marijuana Is Safer Than Alcohol And Opioids During Rescheduling Hearing’s Opening Day

Published

on

By

Attorneys for the Drug Enforcement Administration (DEA) on Monday highlighted testimony about the medical benefits of marijuana and its relative safety compared to other substances such as alcohol and opioids in the opening day of a hearing. The Trump administration’s cannabis rescheduling proposal.

Marijuana Moment spoke with several people in the audience for Monday’s hearing to find out how the testimony is going, despite the proceedings not being broadcast live to the public at the request of one congressman and others.

According to those sources, DEA attorney James J Schwartz stated that the government is the proponent of the proposed rule to formally move cannabis from Schedule I to Schedule III of the Controlled Substances Act (CSA), stating that the hearing is “not about the recreational use of marijuana” and “about regulation, not about legalization.”

“The government has presented no evidence to suggest that marijuana is not dangerous. All controlled substances are dangerous,
he said “However, controlled substances must be evaluated against the risks they pose, balanced against the medical benefits they provide.”

Dominic Chiapperino, director of the Food and Drug Administration’s Center for Controlled Drug Evaluation and Research and one of two DEA witnesses, testified about how federal health officials formed their recommendation to reschedule cannabis.

Opponents of the reform have used a new two-part test that they argue is a bad departure from a previous analysis, although a DEA lawyer said the hearing is not about that issue, and Chiapperino said the new test is now considered “every time” a new analysis is done on a drug.

The FDA official said the agency compared marijuana to alcohol, opioids and other substances in its scheduling analysis, and found that marijuana’s daily harms were lower than all or most of those comparators.

Cannabis is associated with fewer overdose deaths than comparable substances, Chiapperino said, and when reports of cases involving deaths mention marijuana, the deaths are often attributed to secondary incidents such as accidents or self-inflicted harm. Marijuana’s potential for overdose deaths is “much lower” than other Schedule I drugs and Schedule II drugs. Rather than opioids, the FDA official said.

As for withdrawal in regular users, Chiapperino testified that cannabis has symptoms similar to tobacco, including irritability, but alcohol has “more of a withdrawal syndrome,” which can include seizure and death.

Also on Monday, the lawyers of some of the parties against the reorganization had the opportunity to cross Chiapperino.

Kevin Sabet, president and CEO of the prohibitionist organization Smart Approaches to Marijuana, who was also invited to attend the hearing, said in a video posted on social media that it is “surreal” to see the government arguing that cannabis’s medical uses and relatively minor harms are “just lying through their teeth.”

The DEA “is in a very awkward position to argue the opposite of what it’s been arguing for the last 50 years, the opposite of what the science says, the opposite of what the evidence is,” he said, “which is, of course, to argue against the government that marijuana is more harmful than we thought, not less harmful.”

On Tuesday, opponents of the review will have an opportunity to cross-examine the FDA official, and the government’s second witness, Corey Burchman, a doctor from New Hampshire, will begin his testimony. The DEA announced in a filing last week that it will do so Testify on “How Medical Marijuana Provides Medical Benefit to Pain Patients.”

On Monday, a DEA attorney said Burchman would “describe the real-world impacts of treating pain with marijuana instead of opioids” based on his experience with both and discuss how he has “personally transitioned patients from opioids to marijuana for their pain.”

The witness will also testify about the differences between cannabis and opioids in terms of withdrawal and overdose, he said.

Before the hearing began, marijuana reform activists rallied They held a press conference outside DEA headquarters to highlight how they feel of the process – criticizing the fact that supporters of the reform were not invited to participate and that the proceedings are not reproduced live, despite the “transparency” oath of the officials.

DEA Administrator Terrance Cole only organizations and individuals opposed to marijuana reform have been invited to the hearing as a designated participant – telling followers that they do not meet the definition of “interested person” to participate because they are not “affected or prejudiced by any rule or proposed rule that may be issued.”

last week, Marihuana Moments sent petitions to DEA Chief Administrative Law Judge Derek Julius and DEA Administrator Cole asking for them reverse the decision to ban the public from tuning into the cannabis hearing via live stream. A Congressmen and other journalists later joined that request.


Marijuana Moment’s journalism is made possible by readers like you, who value this work enough to support us Patreon Monthly Pledges. If you rely on our reports to stay informed of important developments in cannabis, please help us do this becoming a permanent subscriber today.

Backed by us at the $25/month level, you’ll have access to our Bill Tracker so you don’t miss any important marijuana legislation in your state.

The opponents who are participating in the hearing submitted statements last week anticipate the anti-marijuana arguments they intend to make during the procedure.

The hearing it will end before July 15.

Acting Attorney General Todd Blanche in April He issued an order that immediately reclassified the state’s licensed medical cannabisas well as marijuana products approved by the Food and Drug Administration (FDA) under Schedule I through Schedule III of the Controlled Substances Act (CSA).

According to a separate order signed by the acting attorney general, the upcoming hearing will include Class III marijuana.

Preliminary hearing process on the marijuana redistricting process initiated by the Biden administration It was halted last year amid allegations of improper communications and witness selection.

the current The marijuana redistricting process is being challenged in several ways which have been upheld by a federal Court of Appeals. those pieces of State attorneys general have filed lawsuits against cannabis reform, Opponents of marijuana legalization and a a cannabis-based biopharmaceutical corporation.

Meanwhile, the reorganization of state-licensed medical cannabis is already having a major impact.

The Congressional Research Service published a report on the current rescheduling of cannabis Certified patients with medical marijuana from state licensed dispensaries are now eligible for Class III. “The order appears to allow end users to use marijuana medically without a CSA prescription,” he says.

The Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) has published a Draft update to a gun purchase form to recognize the legal status of medical marijuana in the reprogramming. The revised section of the question states that only the “recreational use or possession of marijuana” is federally prohibited, omitting the prior form’s mention of medical cannabis.

The US Treasury and Internal Revenue Service (IRS) said they plan to issued new tax guidelines for the marijuana industry after reprogramming. The reform will benefit state-licensed marijuana businesses by allowing them to take federal tax deductions that are currently prohibited under IRS Code Section III, known as Section 280E.

Even the DEA, which has long opposed cannabis legalization and accused the Biden administration of stalling the initiative in the reorganization process, has done so. It launched a registration process for legal marijuana businesses in the state to take advantage of the federal benefits that come with the reform.

The Department of Transport, on the other hand, issued guidelines stating this use Legal medical cannabis in the state is still no excuse for truck drivers to test positive for drugspilots and other safety-sensitive personnel.

A congressional committee recently Federal officials voted to block further steps to reschedule cannabishowever lawmakers from both parties told Marihuana Moment they don’t think that provision will be enacted become law

user photo Carlos Gracia.

Marijuana Moment is made possible with the help of readers. If you rely on our pro-cannabis journalism to stay informed, consider a monthly Patreon pledge.

Continue Reading

Cannabis News

cbdMD welcomes White House call for fair treatment of hemp-derived products

Published

on

By











cbdMD welcomes the Administration’s call for Congress to ensure fair treatment of hemp-derived products under federal law and calls for immediate action to revise hemp regulations to ensure fair treatment of hemp products under federal law.

In a letter to congressional leadership this week, the White House Office of Management and Budget identified hemp reform as a priority strongly supported by the Administration. The petition calls on Congress to ensure fair treatment of hemp-derived products by maintaining access to appropriate full-spectrum CBD products, and by maintaining Congress’ intent to reduce products that pose health risks. The administration also urged Congress to pass a responsible federal framework or at least extend the current implementation period to give lawmakers time to get policy right. The request builds on the president’s previous public statements urging lawmakers to protect access to full-spectrum CBD products that millions of Americans rely on.

“We are encouraged to see the administration so clearly championing the responsible, scientific hemp products that consumers depend on every day,” said Ronan Kennedy, CEO of cbdMD. “cbdMD has always believed that the future of this category is built on quality, transparency, and clear rules that separate them from bad actors. A federal framework that protects consumer access, promotes safety, and provides certainty to companies that provide certainty is what this industry and the people it serves deserve. We applaud the policymakers who are working to achieve this outcome.”

“We believe CbdMD is purpose-built for this next phase of the market,” added Kennedy. “Our focus remains on serving our customers with reliable and effective products, supporting responsible regulation and building long-term value for our shareholders as the category continues to evolve. Along the way, we will continue to evaluate the opportunities this evolving environment holds.”

For more information:
cbdMD
cbdmd.com/










Continue Reading
Advertisement

Trending

Copyright © 2021 The Art of MaryJane Media