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Minnesota aims to issue adult-use marijuana retail licenses in 1 year

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Minnesota regulators will start issuing adult-use marijuana retail licenses one year from now if they’re able to stick to their planned timeline.

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A request for vendors posted by the state noted that license applications are scheduled to begin in May 2024 and sales would start in January 2025, MPR News reported.

Gov. Tim Walz still must sign the recently passed adult-use cannabis legalization bill into law, but he has indicated he plans to.

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The law, which legislators narrowly passed in April, also allows adults 21 and older to grow their own cannabis.

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Marijuana Business Daily

Texas medical marijuana expansion fails in state Senate

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An effort to expand Texas’ medical marijuana program beyond low-THC CBD oil failed in the state Legislature.

And a move to reduce criminal penalties for marijuana possession also was unsuccessful, Austin TV station KXAN reported.

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House lawmakers approved both bills, but the measures then stalled in Senate committees.

House Bill 1805 would have increased the amount of THC allowed in products manufactured and sold in the state’s MMJ program from 1% by dry weight to 10 milligrams of THC by “dosage unit.”

HB 128 would have reduced possession of up to 1 ounce to a citable misdemeanor punishable by no more than a fine of $500.

May 24 was the last day this session for bills passed in one chamber to also be approved in the other.

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Despite living under some of the most draconian drug laws in the United

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Q1 cannabis sales in California fall to $1.25M, lowest level since pandemic

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First-quarter cannabis sales in California slid to $1,249,584,223, the lowest quarterly total since the onset of the COVID-19 pandemic, according to the latest statistics from the state’s Department of Tax and Fee Administration.

Sales were down 5.9% from the same quarter a year ago and the lowest since the second quarter of 2020, when sales were $1,153,285,028.

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The first-quarter statistics put California’s marijuana operators on track to generate just less than $5 billion in sales this year, or 7.1% less than 2022, when taxable sales of recreational and medical marijuana eclipsed $5.3 billion.

If projections hold true, cannabis sales would fall for the second consecutive year in the world’s largest regulated market.

It’s the first time that has happened since regulations for adult-use retail sales were established in 2018.

Sales last year decreased 8.6% from roughly $5.8 billion in 2021, according to state data.

Beyond high

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Organigram makes THCV investment in US cannabis genetics company Phylos

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Canadian producer Organigram Holdings is investing as much as $8 million in Portland, Oregon-based cannabis genetics and seeds company Phylos Bioscience.

Under the deal, Organigram will shift to producing cannabis from seed and create new products containing the minor cannabinoid THCV.

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Organigram also will become “the first Canadian licensed producer to release high potency whole plant derived THCV in Canada based on Phylos’ genetics platform,” the Moncton, New Brunswick, company said in a news release.

Organigram said the deal will:

Allow the company “to modernize cannabis production and employ seed-based production at scale.” Provide access to “proprietary genetic identification tools” to boost development of proprietary cannabis cultivars. Permit Organigram to develop new genetics for its brands such as Shred, “providing future opportunities to offer ‘turn-key’ U.S. and international licensing of seed-based genetics and an established cannabis brand when and where legal.”

“We know

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