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South Dakota Medical Marijuana Advocates Alarmed After Lawmakers Give Prohibitionists A Platform

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4 months ago

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“There’s a shock wave going through our community right now with guest speakers, most of them from out of state.”

By Joshua Haiar, South Dakota Searchlight

Representatives of South Dakota’s medical marijuana companies said they were concerned Wednesday after the state board that oversees the industry spent a day-long meeting listening to guest speakers who warned about health and other risks.

Emmett Reistroffer, of Genesis Farms in Sioux Falls, spoke during the public comment session at the end of the meeting.

“My phone has been blowing up with text messages,” she said. “There’s a shock wave going through our community right now with guest speakers, most of them from out of state.”

Reistroffer also said he fears the commission is participating in a coordinated effort to limit or repeal the state’s medical marijuana program, which was approved by voters in 2020 and implemented by the state in 2022. Currently 16,477 sick cards have been issued in the state.

Reistroffer’s comments were cut short by the chairwoman of the Medical Marijuana Oversight Committee, Rep. Josephine Garcia, R-Watertown.

“There was no intention at all to make the agenda of this meeting, other than to continue what was not done when this program was first opened,” said Garcia. “That was my only intention here. If you’re implying that I, as chair, said something or orchestrated something, I didn’t do that. It’s public awareness. This is a public safety issue.”

The panel of speakers included medical professionals and retired officials from other states who shared concerns about overprescription, youth access, mental health impacts and the mix between medical and recreational use.

Ed Moses, a retired Missouri law enforcement officer, spoke about the various dangers of marijuana. He believed medical marijuana to be a “Trojan horse” for recreational marijuana.

“Marijuana can change who we are and our values,” he told the committee.

Karen Randall, an emergency medicine physician in Colorado, said she sees both adults and children entering the emergency room due to marijuana-related incidents. He told a story about a kid who, without any identification, popped a marijuana candy product in the back of a dispensary and ended up in the emergency room.

Randall said Colorado has become overloaded with various marijuana products, and it’s now the drug of choice for kids there.

“They don’t drink, they don’t smoke like they used to; they use marijuana,” he said.

University of Oklahoma Professor John Duncan, who works in the School of Medicine, recommended to the committee that medical marijuana be treated in the same way as traditional medicine, including the prescribed dosage. He also said that the commission should pay attention to synthetic forms of marijuana that come with many other side effects.

Colorado addiction psychiatrist Libby Stuyt told the commission that medical marijuana is not the solution to traumatic stress disorder that medical marijuana advocates claim. He said patients prescribed medical marijuana for mental health disorders often confuse the feeling of withdrawal with needing more medicine — blurring treatment and addiction.

Wednesday’s lineup also included Sioux Falls Superintendent James Nold. He said marijuana has become a problem in schools, with students getting the product through adults.

Jeremiah Murphy, who lobbies for the medical marijuana industry, told commissioners during the public comment period that they should be proud of the state’s program.

“If you think about what you’ve heard today, they hardly hit the South Dakota program,” he said. “They showed us real, significant problems in Oklahoma.”

Reistroffer said the medical marijuana industry is taking heat for locals “smoke shops” that sell illegal products, including those derived from hemp but chemically modified ingredients. According to him, they are the ones selling high-dose “sweets” and products that attract children.

“We’re not, we’re still painting with their brush,” he said.

The committee made no formal recommendations and did not vote at the meeting. of the committee the members They are appointed by the Board of Directors of the Parliament. Membership includes legislative and non-legislative, state law requires membership in the medical, counseling, law enforcement and patient communities.

This story was first published by the South Dakota Searchlight.

user photo Brian Shamblen.

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General Assembly advances cannabis retail framework

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23 hours ago

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February 21, 2026

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After years of vetoing the General Assembly, legislation to create a legal adult cannabis market in Virginia passed both chambers on Tuesday, this time ready for a governor’s signature and retail sales to begin in November. The votes provide the clearest sign yet that Virginia is ready to move from legal ownership to a fully regulated no-sale market, a transition that has eluded the commonwealth since 2021, when lawmakers legalized simple ownership.

On Tuesday morning, the House passed House Bill 642, Del. Paul Krizek, D-Fairfax, by a vote of 65-32. A few hours later, the Senate passed House Bill 542 by Sen. Lashrecse Aird, R-Petersburg, by a narrow 21-19 margin, after a failed initial vote.

Similar proposals have cleared the General Assembly in recent years—often with bipartisan support—but were repeatedly vetoed by former Gov. Glenn Youngkin. This year, the political calculation has changed. Democratic Gov. Abigail Spanberger has vowed to sign legislation establishing a regulated retail market.

Under Krizek’s bill, the Virginia Cannabis Control Authority would administer the retail system, with no retail sales permitted before November 1, 2026. “It’s about fixing a situation that isn’t working,” he said, noting that while it is legal for adults to possess cannabis, retail sales remain unregulated.

Read more at Virginia Mercury










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Rhode Island Marijuana Regulators Weigh How To Award New Dispensary Licenses

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23 hours ago

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February 21, 2026

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“It is unfair to everyone who has invested time, money and attention in this process. We ask that there be no delay.”

By Christopher Shea, Rhode Island Currant

State cannabis regulators have yet to decide how they will handle the allocation of 20 retail cannabis licenses to applicants selected by lottery before May.

The state planned to issue 24 licenses but reduced the number based on the distribution of applicants among the state’s six geographic areas. A total of 98 applications were submitted by the Rhode Island Cannabis Control Board’s December 29, 2025 deadline. One has since been withdrawn, Rhode Island Cannabis Administrator Michelle Reddish told the board at Friday’s monthly meeting.

A second applicant withdrew after the meeting, Cannabis Control Board spokesman Charon Rose confirmed Tuesday.

Commission staff are still reviewing applicants’ qualifications before they enter the final lottery that will award retail licenses. A breakdown of applicants available on the commission’s website shows that more than half — 56 — are seeking general retail licenses. Another 19 were cooperative workers and the remaining 23 were for social equity applicants, or those affected by the war on drugs.

State regulations passed last year set a maximum of four retailers zoneat least one license designated for a social equity applicant, and for a worker-owned cooperative.

Nearly a third of all retail license applications — 31 — were in Zone 6, along with all of Pawtucket, East Providence, Bristol and Newport counties.

Zone 1, which covers Burrillville, Cumberland, Glocester, North Smithfield and Smithfield, saw only two applications, both for social equity licenses. Applicants that did fall back were Die of Laughter, which applied to Zone 5, and Green Dolphin, which applied to Zone 4.

At the committee’s Friday meeting, the committee raised the possibility of phasing out the license release.

“Many stakeholders have raised the issue that if all potential licenses come online at the same time, the price of the product could drop so quickly that no one would win,” said Commissioner Robert Jacquard.

Kevin Rouleau, chief operating officer of Portsmouth-based Newport Cannabis Company, warned that a rapid saturation of the state’s small market could lead to a “race to the bottom” as more established businesses like his try to survive the new competition.

“This is going to hurt everybody, especially farmers who get pennies on the dollar for their produce,” Rouleau said.

The cultivators who participated in the meeting did not feel that way.

“We’re absolutely fine moving forward with the retail stores and we’re not concerned about that outcome,” Rhode Island Growers Association representative Nicholas Lacroix told the commission during the public comment period.

However, Reddish was concerned that the rapid expansion could lead to problems that have occurred in other states.

Cannabis revenue in Michigan fell in 2025, despite record total sales, driven by falling prices. The Oregon market has come under increased pressure from large harvests and low wholesale prices. In Massachusetts, merchants describe a “race to the bottom” that has wiped out many businesses from their market.

“Based on these examples, there is a need to discuss whether the commission should use its ability to take proactive steps to support a stable and successful cannabis industry, prepare to respond to market changes in real time and adjust course if necessary,” he said.

But attorney Allan Fung, a former Cranston mayor and former GOP congressional and gubernatorial candidate, appeared on behalf of several candidates. the applicantshe said that the market should ultimately be the entity that dictates price and competition.

“It’s unfair to everyone who has invested time, money and attention in this process,” Fung told commissioners. “We ask that there be no delay.”

It has already been a slow road for the state to establish its own recreational cannabis market. More than a year passed before the three-member committee was inaugurated in June 2023. The commission had to hire staff to write proposals and review rules adopted in other states. Rhode Island’s rules governing retail cannabis were finally approved in May 2025. Chairman Kim Ahern stepped down last October to become attorney general, and Gov. Dan McKee (D) has yet to name a successor.

Meanwhile, eight medical dispensaries in the state have been authorized to sell recreational cannabis under hybrid licenses.

“The only people who benefit from these dispensaries being slow are the current dispensaries who have a monopoly on the cannabis market,” said Spencer Blier, director of Warwick-based Mammoth Inc. CEO and founder of cultivator.

Because few applications were submitted for Zone 1, Reddish informed the board on Jan. 16. the meeting that regulators would issue up to 20 licenses statewide.

“Depending on how the application process is completed, that number may decrease,” Reddish said Friday.

Starting Jan. 1, the state Office of Cannabis had 90 days to review applications and confirm they met eligibility requirements before entering a lottery, according to a schedule approved by the commission at its Oct. 20 meeting.

Applicants must still obtain the necessary local approvals to enter the random drawing. Regulators aimed to start issuing licenses before May, although the regulations do not specify how many will be issued at one time.

The commissioners did not vote on Friday. The board decided to decide how many licenses to grant at a time for a future meeting.

The next meeting organized by the committee is Friday, March 20, at 1:00 p.m.

This story was first published by the Rhode Island Currant.

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Curaleaf secures $500M financing, extends debt maturity to 2029

Published

2 days ago

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February 20, 2026

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Curaleaf Holdings has closed a $500 million private debt financing, refinancing existing obligations and extending the maturity of the debt by more than two years.

The company issued senior secured notes with an interest rate of 11.5%, due in February 2029. At the same time, Curaleaf repaid $475 million in prepayments due in December 2026. According to the company, the transaction is non-dilutive and was completed at par.

The refinancing effectively pushes Curaleaf’s near-term debt obligations further down the road, giving the company additional runway as it continues to operate in multiple international cannabis markets. The net proceeds from the offering will be used to support global growth initiatives, as well as to cover transaction-related costs.

© Curaleaf

“This financing strengthens our balance sheet and gives us greater flexibility to execute our long-term strategy,” said Boris Jordan, President and CEO of Curaleaf. He described the deal as the largest bond offering completed in the cannabis sector to date, and pointed to renewed interest from institutional investors as a sign of increased confidence in the industry.

The notes pay interest annually and are secured against the company’s assets. The financing structure also allows for debt issuance under certain leverage conditions, along with $100 million in senior bank financing.

The private placement was conducted under existing securities law exemptions in Canada and the United States and was led by Seaport Global Securities, with ATB Cormark Capital Markets acting as placement agent.

For more information:
Curaleaf
(email protected)
curaleaf.com



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