CalCPA Cannabis Industry Symposium Examines Impact Of COVID-19, Regulation & Economic Outlook On CA’s $3 Billion Cannabis Sector

CALIFORNIA: COVID-19 has wreaked havoc on the California economy, and the cannabis sector has not been immune. Supply chains have been disrupted, revenues have taken a hit, and labor has been impacted. California’s cannabis industry is feeling the pain and seeking a path to recovery through economic stimulus, innovation and new business models, and solid advice from key advisors like CPAs who guide them through complex tax, accounting and auditing matters.

On August 7, 2020, CalCPA will again bring together leading experts and thinkers at its annual Cannabis Industry Virtual Symposium, where attendees will learn about the latest tax, legal and accounting updates impacting cannabis industry businesses and the professionals who advise them. Speakers will provide insight into new, recently implemented policies, outcomes from the COVID-19 stimulus legislation, interpretation of tax law, review of banking rules, trends in federal legislative actions, how to handle bankruptcy and receivership, and valuation of cannabis businesses.

Cannabis Nurses Network Conference 2020 With Focus On How Cannabis Has Caused A Revolution In Healthcare

Virtual Educational Session and Panels Devoted on New and Promising Cannabis-based Therapeutics

Conference expected to be in person in 2021 with Ticket in 2020 to include both Events

CALIFORNIA: Noted medical cannabis experts and health professionals will be leading educational panels and continued education programs at this year’s Cannabis Nurses Network Conference (CNNC), the annual professional development and education conference designed exclusively for Registered Nurses and wellness professionals to advance their understanding of cannabis medicine, the endocannabinoid system, and practical applications in day-to-day patient care & practice.

This year’s conference will be held virtually on September 3rd and 4th. This year’s ticket includes an in-person ticket for 2021’s CNNC conference, expected to be held in San Diego once it is safe to do so.

CNNC 2020 is an advanced, unique, and empowering 2-day education experience; the program is designed for nurses, healthcare and licensed wellness professionals who are serious about advancing their expertise in cannabis medicine. According to Cannabis Nurses Network, the speakers, education content and programming schedule for September will continue as planned, and for the in-person experience will be built upon the virtual event with even more advanced education, and additional speakers.

“We will take the “Revolution in Healthcare” theme of our conference very seriously – so we are taking this opportunity to continue with our conference, by innovating on the CNNC experience. We have moved the conference into a virtual space for the September 3rd-4th 2020, with special experiences designed to take advantage of online technology. Once large events have been given the “all clear” by the State of California, we will be rescheduling our in-person event for an appropriate time in 2021,” said CNN Founding Member, Heather Manus, RN.

Tickets to CNNC 2020 will get attendees admission to TWO full scale cannabis education conferences for medical professionals. According to CNN management, this is a great opportunity for new cannabis nurses to participate in the privacy of their own home, making connections and new friends they can join at the in-person event when it is rescheduled.

Nurse Heather Manus is founder of the Cannabis Nurses Network

TOPICS FOR 2020 VIRTUAL CNNC: ESSENTIAL EDUCATION AND EXPERT PANEL SESSIONS

CNNC 2020 offers two full days delivering accredited continuing nurse education credits (CEU) in cannabis medicine education. Healthcare professionals are encouraged to register to learn about cannabis science, research, and clinical applications related to the human endocannabinoid system and cannabinoid therapeutics from world-class experts.

This year’s topics include:

  • Cannabis and Cancer Care – Can Cannabis offer Quality of Life
  • The Emergence of Cannabis Nurses
  • New and Promising Cannabis Therapeutics
  • Overcoming Roadblocks to Effective Care
  • Pharmaceutical considerations for Nurses
  • Supporting Patient Empowerment
  • Healing with a Tender Touch
  • Nurturing Nursing Partnerships
  • Advancing Nursing Practice
  • Elevating Sports Medicine
  • New Approach to Elder Care
  • Lessons from Plant Messengers
  • Hemp Healing: Planet, Progress and People
  • Political Nature of Healthcare and Research

“Patients are using cannabis legally, with or without medical oversight. Nurses are being encouraged by the National Council State Boards of Nursing (NCSBN) to seek and gain knowledge regarding Cannabis Patient Care. I believe we are witnessing a revolution in healthcare, and Nurses are among those at the forefront,” adds Nurse Manus. For more information on purchasing tickers for both the 2020 and 2021 events, please log to Cannabis Nurses Network.

Canopy Growth Announces Changes To Global Operations To Drive Strategic Focus

 

The Company continues to expect to incur approximately $700-800MM pre-tax charge in Q4 Fiscal 2020.

CANADA: Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX:WEED, NYSE:CGC) today announced a series of global operational changes designed to further optimize production, better align supply and demand, and improve efficiencies in its global operations. As part of its ongoing strategic review of the business, the Company announced today the following changes to its operations:

  • Africa: Canopy Growth has exited its operations in South Africa and Lesotho, transferring ownership of all of its African operations.
  • Canada: The Company will shut down its indoor facility in Yorkton, Saskatchewan, to further align production in Canada with market conditions.
  • Latin America: Canopy Growth will cease operations at its cultivation facility in Colombia, moving to an asset-light model that leverages local suppliers for raw materials and Procaps for formulation and encapsulation activities as outlined in the previously announced agreement between the two companies. These activities will support the position of Colombia as the Company’s LATAM production hub and the ongoing development of its cannabis industry.
  • United States: Canopy Growth will cease its farming operations in Springfield, New York, due to current market demand for hemp.

“When I arrived at Canopy Growth in January, I committed to conducting a strategic review in order to optimize our cost structure and reduce our cash burn,” said David Klein, CEO, Canopy Growth. “I believe the changes outlined today are an important step in our continuing efforts to focus the Company’s priorities, and will result in a healthier, stronger organization that will continue to be an innovator and leader in this industry. I want to sincerely thank the members of the teams affected by these decisions for their contributions in helping build Canopy Growth.”

The Company continues to expect, based upon information currently available to management, to record estimated pre-tax charges of approximately $700-800MM in the quarter ending March 31, 2020. This relates to this announcement and previous announcements, as well as any additional changes made during the organizational and strategic review. The organizational changes announced today include a headcount reduction of approximately 85 full-time positions.

All figures reported above with respect to the quarter ending March 31, 2020 are preliminary and are unaudited and subject to change and adjustment as the Company prepares its consolidated financial statements for the year ending March 31, 2020. Accordingly, investors are cautioned not to place undue reliance on the foregoing information. The Company does not intend to provide preliminary results in the future. The preliminary results provided in this news release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation, are based on several assumptions and are subject to a number of risks and uncertainties. Actual results may differ materially. See “Notice Regarding Forward Looking Statements”.

The Arcview Group Launches First Member-Based Fund

Cannabis-Focused Investor Network Announces The Arcview Collective Fund; Members to Participate in Investment Decisions

CALIFORNIA:  The Arcview Group, the leading cannabis investment and market research network, announces the launch of its first member-based fund: the Arcview Collective Fund. Arcview members will have exclusive access to the fund led by Arcview Ventures Chief Investment Officer, Jeanne M. Sullivan and its CEO, Jeffrey Finkle. Their deep experience in the cannabis sector, professional investing and venture capital uniquely position them to lead Arcview Ventures and this first member-based fund.

The Arcview Collective Fund will uniquely and effectively allow Arcview cannabis investors to collaborate on investment decisions, providing exposure to a portfolio of diverse companies in this exciting space.

“Starting a member-based fund is a natural, logical step for us,” remarked CIO Jeanne Sullivan. “For years, Arcview has been introducing its members to viable investment opportunities in the cannabis space. In that time, members have asked for a way to combine their individual resources into something more substantial – a fund which enables them to be both diversified and dedicated to the cannabis sector.”

“This is the cannabis fund best positioned to source and evaluate early stage deals because every member is highly motivated to find the best. I’m so pleased that Arcview members have already responded so positively to this opportunity,” said Troy Dayton, Founder and Chief Strategy Officer of The Arcview Group.

“This new fund gives investors the benefit of an experienced team guiding a member-led investment process,” commented CEO Jeffrey Finkle. “I have been involved with this structure for a few years now and have seen how successful it can be. The Arcview Collective Fund is a great way for cannabis investors to put money to work in this emerging industry.”

Please reach out to info@arcviewventures.com for more information.

Grassdoor Provides Fastest Cannabis Delivery Service In Los Angeles

CALIFORNIA: Grassdoor is offering fast and efficient cannabis delivery in Los Angeles and the Orange County area. It’s a relief to people in the county who need access to cannabis and related products easily and to tight deadlines.

The Grassdoor marijuana delivery app in Los Angeles is dedicated to delivering cannabis products door to door within 40 minutes. A further advantage that comes with using the app is that all products are a top brand, so a good user experience is guaranteed.

Fast service from a local provider

Grassdoor is dedicated to providing the fastest available cannabis delivery service in Los Angeles and Orange County. However, the company recognizes that it’s not just speed of delivery that is important.

It’s also making sure that the service it provides is friendly and efficient and that its products are fresh and safe to use. This is something that the people of Los Angeles have been waiting for. They get access to top brand cannabis products without ever having to leave home. They are also guaranteed to receive the products in a timely and safe manner.

Tried and tested products that can be trusted

The best news about this fast cannabis delivery provision from Grassdoor is that all the products that the company delivers are tried and tested.

The owners of the company are connoisseurs of the cannabis industry. This means that they have chosen the highest quality flowers for customers while keeping the products at an affordable cost.

All of the cartridges and pens that are delivered by Grassdoor have been tested for effectiveness and safety of use. The testing and guarantee of quality apply to all of the products that are delivered by Grassdoor. These products include oil cartridges, vape pens, blunts, edibles, THC concentrates, CBD products and accessories.

Customers at the forefront of a cannabis delivery service

This delivery service is big news for the people of Los Angeles and Orange County. They are being provided with a way of getting the cannabis-related items that they need, quickly and with no fuss.

They are also at the receiving end of some of the best customer service in the cannabis delivery industry. This customer service is delivered by the experienced customer service team at Grass Door that is on hand 10 am to 9:30 pm, 365 days a year. The team is dedicated to providing answers to customer questions and helping people get the products they need.

Anyone in the Los Angeles and Orange County area, who needs access to high-quality marijuana-related items can now get what they need to be delivered straight to the door.

The biggest change that Grass Door has made to the cannabis delivery industry in this part of the country is increased speed. There is no doubt that a delivery time of no more than 40 minutes is a major advantage to anyone who needs to have cannabis, and related accessories, within a tight timeframe.

 

 

 

 

 

 

U.S. District Court Dismisses TCPA Lawsuit Against Eaze, Upholding The Ability Of Legal Cannabis Industry To Enter Binding Contracts

eaze

Ruling sets important precedent for both California’s legal cannabis market and legal cannabis industry in America

CALIFORNIA: Eaze Technologies, Inc. today announced that it obtained a complete dismissal of Williams v. Eaze, Inc., a putative nationwide class action lawsuit brought under the Telephone Consumer Protection Act (“TCPA”), by successfully enforcing the arbitration agreement in its Terms of Service.

In her lawsuit, Plaintiff Farrah Williams, attempted to circumvent the arbitration agreement in Eaze’s Terms of Service by arguing that cannabis contracts cannot be “formed” because cannabis is illegal under federal law. The court rejected this claim, thus preserving the ability of cannabis businesses, operating where cannabis is legal under state law, to enter into and enforce basic contracts with customers, individuals, and other businesses.

“This ruling is enormously important for the entire industry, as contracts across California and nationally could have been invalidated had the court found for the Plaintiff,” said Andrea Lobato, Chief Risk Officer at Eaze. “We are pleased to have successfully defended the basic right of legal cannabis companies to enter into contracts.”

After substantial briefing and argument led by Boies Schiller Flexner partners, Albert Giang and Michael Roth, the district court concluded that a proper contract had been formed, delegated other disputes to the arbitrator, and dismissed Plaintiff’s nationwide class action. Specifically, while noting that the case raises interesting issues about “ganjapreneurship,” the Court concluded that Eaze’s business “is legal under California state law” and arbitration was required under the Federal Arbitration Act (“FAA”).

“The court correctly found that cannabis companies are not barred from forming and enforcing basic contracts, and that Eaze’s business is legal under California state law,” said Giang. This ruling sets an important precedent for California’s legal cannabis market, and more broadly for the legal cannabis industry in America.

 

Eaze Partners With Fairmont Miramar Hotel & Bungalows Santa Monica And Recreational Embassy To Debut Eaze Hospitality

CALIFORNIA: Eaze, California’s leading cannabis delivery marketplace, announced a new partnership with Recreational Embassy, an elemental curator of cannabis and hemp solutions for the luxury hospitality market, to bring high-touch cannabis experiences to luxury hotel guests with the launch of Eaze Hospitality. The Eaze Hospitality concierge service will debut at the Fairmont Miramar Hotel & Bungalows Santa Monica, marking a first-of-its-kind intersection of tourism and the cannabis industry.

“The partnership with the Fairmont and Recreational Embassy is another proof point that cannabis is normalizing,” says Sheena Shiravi, Senior Director of Marketing at Eaze. “Offering adults in-hotel access to safe and legal cannabis at California’s luxury tourism destinations reinforces how beneficial it is to incorporate cannabis into every aspect of your life.”

Eaze Hospitality is designed to meet the needs, tastes, and lifestyle of the luxury cannabis consumer. Features include a concierge service that serves as a resource for guests’ questions and supports a positive cannabis experience. Eaze Hospitality is committed to educating both new and existing customers about the benefits of cannabis and the innovative products available to them.

“Hotels should have a safe, legal and thoughtful approach to meet the needs of the modern luxury hotel customer,” says Fairmont Miramar Hotel & Bungalows Director of Sales and Marketing, Rebecca Huetter. “By partnering with Recreational Embassy, we are able to provide the contemporary level of hotel amenities our guests have come to expect.”

“Being present is what the new modern luxury travel experience is all about, and cannabis is the key wellness product to help you get there,” said Lauren Rogers, Chief Executive Officer of Recreational Embassy. “As we guide the hospitality industry along this fresh customer journey with integrity, Eaze Hospitality reinforces the overlap between the new cannabis consumer and the modern luxury traveler.”

The Fairmont Miramar Hotel & Bungalows in Santa Monica, California is the first property to leverage Eaze Hospitality to facilitate access to legal, compliant and brand-aligned hemp and cannabis products and services. Guests aged 21+ will have access to customized in-room menus that feature low-dose and non-inhalation hemp and cannabis products. Through Recreational Embassy, the hotel will also offer bespoke CBD products including a custom scented fig CBD-infused bath bomb inspired by the property’s signature fig tree.

The potential to holistically reshape the signature elements of a luxury property hotel-stay by integrating hemp, cannabis and CBD products offers an unprecedented opportunity for hotels to drive incremental revenue. “We bridge the gaps between both those experienced with cannabis and those we call ‘canna-curious’ who are interested to learn more,” says Brian Applegarth, Chief Education Officer of Recreational Embassy. “The most common questions we hear from visitors are about how to get cannabis products and where to enjoy them. Our goal is to minimize confusion for hotels and their guests while maximizing on-property experiences and driving incremental value.”

CDPH Issues Public Health Advisory Urging Everyone To Refrain From Vaping

Health Advisory Warns About Imminent Public Health Risks

CALIFORNIA: The California Department of Public Health (CDPH) issued a health advisory today urging everyone to refrain from vaping, no matter the substance or source, until current investigations are complete. The health advisory follows an executive order signed by Governor Gavin Newsom last week to confront the growing youth epidemic and health risks linked to vaping.

As of September 24, 2019, CDPH has received reports that 90 people in California who have a history of vaping were hospitalized for severe breathing problems and lung damage, and two people have died. Across the U.S., there are more than 500 reports of lung damage associated with vaping across 38 states and 1 U.S. territory, and more reports are coming in nearly every day.

“We are seeing something that we have not seen before,” said Dr. Charity Dean, Acting State Public Health Officer. “There are numerous unknown factors at this time, and due to the uncertainty of the exact cause, it is our recommendation that consumers refrain from vaping until the investigation has concluded.”

CDPH, along with other states, the Centers for Disease Control and Prevention (CDC), the U.S. Food and Drug Administration (FDA), local health departments, and healthcare providers are working hard to investigate what is in the vape materials that is making people sick.

Although CDPH regulates manufacturers of cannabis vaping products to ensure they are as safe as possible for those who choose to vape, CDPH warns that all individuals put themselves at risk any time they inhale a foreign substance into their lungs. The risk of vaping for any individual may include serious illness and death. “Vaping is not just a concern for youth; the vaping cases under investigation affect youth and adults alike,” said Dr. Dean.

If you experience difficulty breathing after vaping, contact your doctor immediately. You may also experience other symptoms including: cough, shortness of breath, chest pain, nausea, vomiting, diarrhea, fatigue, fever, and weight loss. If this happens to you, do not discard any used vaping cartridges you might have, as CDPH is interested in testing the remaining substance in used cartridges. Those cartridges are being collected by local health departments and sent to CDPH labs for analysis.

In California, licensed cannabis retailers are required to sell products obtained from a licensed cannabis manufacturer that have been tested by a licensed laboratory. Cannabis products sold by licensed sources are tested for a variety of chemicals, pesticides, microbial impurities, and heavy metals. Illegal cannabis dispensaries sell unregulated and untested cannabis products and absolutely should not be used.

CDC continues to warn that any tobacco product use, including e-cigarettes, is unsafe. Furthermore, use of cannabis and tobacco products remains especially unsafe for youth, and for pregnant or breastfeeding women.

The Governor’s executive order directed CDPH to launch a $20 million statewide digital and social media public awareness campaign to educate youth, young adults and parents about the health risks associated with vaping nicotine and cannabis products. CDPH is also tasked with developing recommendations to reduce smoking among young adults and teens by establishing warning signs with health risks where vaping products are sold and on product advertisements.

California Governor Gavin Newsom Signs Executive Order To Confront Youth Vaping Epidemic

Governor directs public awareness campaign to focus on educating youth about the harms of vaping tobacco or cannabis products

CALIFORNIA: Governor Gavin Newsom signed today an executive order to confront the growing youth epidemic and health risks linked to vaping. The executive order directs the Department of Public Health (CDPH) to launch a $20 million statewide digital and social media public awareness campaign to educate youth, young adults and parents about the health risks of vaping nicotine and cannabis products. CDPH is also tasked with developing recommendations to reduce smoking among young adults and teens by establishing warning signs with health risks where vaping products are sold and on product advertisements.

“We must take immediate action to meet the urgency behind this public health crisis and youth epidemic,” said Governor Newsom. “As a parent, I understand the anxiety caused by the deceptive marketing tactics and flavored options designed to target our kids. With mysterious lung illnesses and deaths on the rise, we have to educate our kids and do everything we can to tackle this crisis. There is a broad and bipartisan coalition of legislators seeking to protect our youth, and we are committed to working with the Legislature and stakeholders to build on these executive actions and put forward a strong tobacco reform package in 2020.”

The Governor also announced that he signed SB 39 by Senator Jerry Hill (D-San Mateo) today, legislation which will impose stricter age verification requirements for tobacco products sold online or by mail.

Vaping devices are the most commonly used tobacco product in California and more than 80% of high-school teens who consume tobacco use a vaping device. Of the California teens who consume tobacco products, 86.4% report using a flavored tobacco product. There are over 15,500 e-liquid flavors, some of which have proven to cause significant health effects.

From 2016 to 2018, vaping among California high school students rose 27%. In 2018, 10.9% of California high school students reported using e-cigarettes and 14.7% reported using cannabis.“As a state, we can no longer stand by as a new generation falls victim to big tobacco, with vaping products that directly target our children,” said California Health and Human Services Agency Secretary Dr. Mark Ghaly. “The Governor’s action will raise awareness of the dangers of tobacco products and the risks associated with e-cigarettes and vaping, as well as look at enforcement actions that show Californians the gravity of targeting young people and their health.”

CA Gov NewsomThe Governor’s executive order includes:

Increased enforcement of e-cigarettes: The Department of Tax and Fee Administration (CDTFA) will develop recommendations to remove illegal or counterfeit vaping products from stores and reducing youth vaping consumption through increased enforcement and incorporating nicotine content into the calculation of the existing tax on electronic cigarettes. CDTFA shall consider revenues currently derived from taxation of electronic cigarettes and the revenues that may be collected from a nicotine-based tax, the potential for evasion and the feasibility of instituting a stamping requirement to maximize compliance. CDTFA shall submit its recommendations to the Governor’s office by October 29, 2019.

Warning signs at retailers and on advertisements: The CDPH is directed to develop recommendations to reduce the availability of vaping devices to persons under 21 years of age, which includes the establishment of warning signs about the health risks of vaping at retailers where any vaping product is sold and in any vaping advertisements. This includes increased enforcement regarding sales of vaping products and specifically e-liquid flavors, to youth. In addition, the CDPH shall make recommendations regarding the establishment of standards for nicotine content and uniform packaging for purposes of including nicotine content in the calculation of the existing tax on electronic cigarettes. The Department of Public Health shall submit its recommendations to the Governor’s Office by October 14, 2019.

Program Funds for Vaping Awareness Campaign: The CDPH is immediately directed to allocate a total of at least $20 million in tobacco and cannabis program funds for a vaping awareness campaign, including digital and social media messaging focused on youth, young adults and parents. This will build upon the award-wining and longest running anti-tobacco program in the nation.

A copy of today’s order can be found here.

Curved Papers & CWCBExpo Roll Out NORML FORML LA Sept 25th

CALIFORNIA: On Wednesday, September 25th, 2019, Curved Papers will once again partner with CWCBExpo to present NORML FORML LA, An Evening of Art, Music and Fashion.” The fundraiser for The National Organization for the Reform of Marijuana Laws takes place on the eve of the CWCBExpo at The Pattern Bar in the LA’s Fashion District.
NORML-FORML-LA
Michael O’Malley, Curved Paper’s CEO and Founder, told MJNews that attendees will be treated to an enchanted evening of artists, activists and entrepreneurs.  “This fundraiser will be the featured charity event of Cannabis Week in LA.” the entrepreneur said. “NORML has provided leadership for the legalization movement for 50 years. They stand to finish the fight, and to continue to fight for the rights and protection of the cannabis consumer.”
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Attendees will be treated to speeches by Dale Gieringer and Ellen Komp of CA NORML, and Bruce Margolin of LA NORML. as well as a show of music, art and fashion, music by Stunt Double and a Medical Marijuana Series by artist Jacob Wheeler.
“The spirit of cooperation and progress that drives the NORML FORML will bring together .Coms, .Orgs, .EDUs and .GOVs.,” O’Malley said.

Tickets to NORML FORML LA are $75 and available at Eventbrite.