• Home
  • MJNews | PRNewswire
  • CBDNews | BusinessWire
  • MJBA.net
  • MJHeadlineNews
  • MJChannelOne
  • MJADNET
  • MJBA PR
  • Subscribe

MJNews Network

"The Voice of Legal Cannabis Since 2013"

  • MJNews | PRNewswire
  • CBDNews | BusinessWire
  • MJ Business
  • MJ Legal
  • MJ Events
  • BlPOC in Cannabis
You are here: Home / Archives for Texas

Texas Voters Pass All Five Ground Game Texas Marijuana Decriminalization Ballot Initiatives

November 10, 2022 by MJ News Network Leave a Comment

Seven communities in Texas have approved or adopted initiatives launched by Ground Game Texas

TEXAS: On Tuesday, voters in Texas overwhelmingly passed all five ballot initiatives launched by Ground Game Texas to decriminalize low-level marijuana use.

Ground Game Texas issued the following statement in response to the results:

“From day one, Ground Game Texas has said that progressive change doesn’t come from the top down, it comes from the ground up,” said Julie Oliver, Executive Director and Co-Founder of Ground Game Texas. “With the support of an army of organizers, volunteers, donors, and everyday Texans, we put progressive change directly on the ballot in five communities–and all five passed with flying colors. Now it’s the job of lawmakers in these communities to enforce the will of the people. Ground Game Texas will continue to use direct democracy to pass popular policies, bring more voters into the fold, and mobilize them behind progressive change.”

Below are the final tallies for the initiatives:

Denton – 71.35%
Killeen – 69.45%
Harker Heights – 64.02%
Elgin – 74.01%
San Marcos – 81.84%

With the passage of these initiatives, seven communities in Texas — Austin, Alton, Denton, Killeen, Harker Heights, Elgin, San Marcos — have approved or adopted initiatives launched by Ground Game Texas.  In May, Ground Game Texas passed an initiative in Austin to decriminalize marijuana and ban “No-Knock” warrants by local police. Additionally, last weekend the city clerk in El Paso approved a Ground Game Texas initiative for the May 2023 ballot to amend the city charter to adopt a citywide climate policy.

Filed Under: Decriminalization, Homepage, Legal Tagged With: Austin TX, decriminalization, Election 2022, Ground Game Texas, Julie Oliver, legalization, mainstream marijuana, MJ Legal News, mjnews, Texas, TX

Coalition Launches San Antonio Justice Charter Initiative 

October 18, 2022 by MJ News Network Leave a Comment

New charter initiative would decriminalize abortion care and marijuana possession, ban no-knock police warrants and chokeholds, and encourage citations instead of arrests for nonviolent crimes.

TEXAS: On Tuesday, October 18th at 11 AM, Ground Game Texas, Act 4 SA, SA Stands, and ILRC will hold a press event to announce the launch of petitioning efforts for the San Antonio Justice Charter Amendment. 

The San Antonio Justice Charter will amend the City Charter of San Antonio to adopt a justice policy that will reduce unnecessary arrests, mitigate racial bias, and save scarce public resources through a comprehensive set of popular reforms, including:

  • Ending enforcement of low-level marijuana possession
  • Ending enforcement of abortion “crimes”
  • Banning no-knock police warrants
  • Banning police chokeholds
  • Prioritizing citations instead of arrests for low-level nonviolent crimes

“The San Antonio Justice Charter is a groundbreaking suite of extremely popular reforms that would improve public safety, reduce unnecessary arrests, promote transparency and accountability in law enforcement, and end the criminalization of fundamental rights like abortion,” said Julie Oliver, Executive Director of Ground Game Texas. “Ground Game Texas is proud to partner with ACT 4 SA and other local San Antonio organizations to continue our success in putting popular reforms in front of voters—and we look forward to San Antonio becoming a model for improving public safety and protecting basic rights through direct democracy.”

“Across the community we have heard the same thing from community members: They want to reduce overcrowding in the jails, stop dangerous policing practices that harm community and officers alike, prioritize city resources for greater public safety needs, and implement programs that can be rehabilitative and address crime prevention — just like cite and release does by lowering the re-offender rate,” said Ananda Tomas, Executive Director of ACT 4 SA. “We know these are popular policies — so we are taking these issues directly to the community to put the Justice Charter on the ballot next May.”

The initial launch of petitioning efforts will be celebrated on Sat. Oct 22nd @ Friendly Spot from 5:30-7:30PM.

Follow along to receive more information that can be found on newly launched social media platforms:

  • Facebook and Instagram- @sajusticecharter

  • Twitter – @justicecharter

Filed Under: Business, Events, Homepage Tagged With: 2022 grassroots, cannabis event, Cannabis News Network, decriminalization, Ground Game Texas, MJ Events, mjnews, MJNews Network, politics of pot, Texas, the business of cannabis, the business of marijuana

Austin City Council Adds Ground Game Texas Ballot Measure to Decriminalize Marijuana and Ban No-Knock Warrants to May 7th Ballot

January 18, 2022 by MJ News Network Leave a Comment

Voters in Austin will cast vote to end enforcement of marijuana possession and ban dangerous “no knock” police warrants

TEXAS: On Tuesday, January 18th, 2022, the Austin City Council voted to add the Austin Freedom Act—a ballot measure authored by Ground Game Texas to decriminalize low-level marijuana offenses and ban dangerous ‘no-knock’ police warrants—to the May 7, 2022 uniform ballot.

The Austin Freedom Act was launched by Ground Game Texas in June of 2021 in partnership with local organizations. Ground Game Texas secured more than 30,000 signatures for the initiative, surpassing the 20,000 signature threshold needed to place the initiative on the upcoming citywide ballot. Ground Game Texas also identified more than 10,000 Austin residents in need of updating or changing their voter registration information, which the organization will assist voters in completing. With the Austin City Council’s vote today, voters will have the opportunity to adopt it into the Austin City Code on May 7th.

Ground Game Texas also recently launched a ballot campaign to raise the wages of employees and contractors in Mission, Texas, and will soon launch several additional campaigns throughout Texas to drive voter turnout and enact progressive change.

“The City Council’s vote to schedule an election on the Austin Freedom Act is a testament to the incredible work of our organizers and volunteers who are fighting for progressive change in their community,” said Mike Siegel, Political Director of Ground Game Texas. “Thanks to their tireless efforts, voters will have the opportunity in May to end the criminalization of marijuana possession and the dangerous practice of no-knock police raids.”

Filed Under: Homepage, Legal Tagged With: Austin, ballot 2022, cannabis news, decriminalization 2022, Ground Game Texas, legal marijuana, legalization, Marijuana Possession, mjnews, MJNews Network, Texas, TX

City of Austin Certifies Ground Game Texas’s Ballot Initiative to Decriminalize Marijuana and Ban No-Knock Warrants

January 10, 2022 by MJ News Network Leave a Comment

TEXAS: Voter engagement and mobilization organization, Ground Game Texas, announced that the City of Austin has certified the Austin Freedom Act of 2021, a ballot initiative launched by the organization to decriminalize marijuana and ban ‘no knock’ warrants by police. The full text of the city’s certification can be found here. 

The Austin Freedom Act of 2021 would amend the Austin City Code to decriminalize low-level marijuana offenses and end the practice of ‘no knock’ warrants by Austin police. In partnership with local organizations, Ground Game Texas secured more than 30,000 signatures for the initiative, surpassing the 20,000 signature threshold needed to place the initiative on the upcoming citywide ballot. Ground Game Texas also identified more than 10,000 Austin residents in need of updating or changing their voter registration information, which the organization will assist voters in completing.

Ground Game Texas recently launched a ballot campaign to raise the wages of employees and contractors in Mission, Texas, and will soon launch several additional campaigns throughout Texas to boost local turnout and created progressive change.

“We’re so proud of the tremendous work of our organizers and volunteers who secured more than 30,000 signatures to put progressive change on the ballot in Austin,” said Mike Siegel, Political Director of Ground Game Texas. “With the certification of the Austin Freedom Act, voters in Austin will soon have the ability to use their vote to end the criminalization of cannabis in their community and eliminate the dangerous practice of no-knock warrants by Austin police.”

“From day one, Ground Game Texas has said that progressive change starts from the ground up,” said Julie Oliver, Executive Director of Ground Game Texas. “In community after community, we are partnering with local groups to put progress on the ballot, bringing new voters into the fold and mobilizing them to get involved. We’re so proud of the success of the Austin Freedom Act and look forward to launching similar efforts across Texas in the year ahead.”

According to recent polling, at least 87% of Texas voters support legalizing marijuana for medical and/or recreational use, and at least 75% of Texans support banning “no knock” warrants that allow police officers to break into someone’s home without identifying themselves beforehand.

Filed Under: Decriminalization, Homepage, Legal Tagged With: Austin TX, ballot 2022, decriminalization, Ground Game Texas, MJ Legal News, mjnews, mjnewsnetwork.com, no-knock warrant, Texas, TX

Ground Game Texas Delivers 30,000 Signatures to Austin City Hall to Secure Ballot Initiative that would Decriminalize Marijuana and Ban “No Knock” Police Warrants

November 30, 2021 by MJ News Network Leave a Comment

TEXAS: On Wednesday, December 1, 2021, the voter engagement and mobilization organization Ground Game Texas will hold a media event at Austin City Hall to announce the success of their campaign to secure a citywide ballot initiative. The initiative, known as the “Austin Freedom Act of 2021,” would amend the Austin City Code to decriminalize low-level marijuana offenses and ban ‘no knock’ warrants by police officers in Austin. 

“Thanks to the tireless efforts of on-the-ground organizers from Ground Game Texas and partner organizations, Austin residents will soon have the ability to make lasting change to our antiquated and racist criminal justice laws,” said Mike Siegel, Political Director of Ground Game Texas. “With successful campaigns like these, Ground Game Texas will continue to empower and excite communities around progressive change — and deliver for the marginalized communities that too often get left behind.”

Representatives from Ground Game Texas will deliver more than 30,000 signatures to city officials, surpassing the 20,000 signature threshold needed to place the initiative on the upcoming November citywide ballot. According to recent polling, at least 87% of Texas voters support legalizing marijuana for medical and/or recreational use, and at least 75% of Texans support banning “no knock” warrants that allow police officers to break into someone’s home without identifying themselves beforehand. The media availability will be held outside the Austin City Clerk’s office on Wednesday at 11:00am CT (details below).

Through their campaign, Ground Game Texas also identified more than 10,000 Austin residents in need of updating or changing their voter registration information. In addition to the Austin ballot initiative campaign, Ground Game Texas is using the ballot initiative process to raise the wages of city employees and contractors in Mission, Texas, and will launch several more campaigns throughout Texas in 2022.

The following organizations and individuals supported the Austin Freedom Act of 2021:
Austin Justice Coalition
Just Liberty
Ground Game Texas
Austin City Council Member Greg Casar
Austin City Council Member Vanessa Fuentes
Texas Criminal Justice Coalition
Texas Fair Defense Project
Planning Our Communities

Details for Wednesday Media Event
WHAT:  Media event announcing Austin ballot initiative

WHO: Representatives from: Ground Game Texas, Austin City Councilwoman Vanessa Fuentes, Mayor Pro-Tem Natasha Madison-Harper (District 1 Council Member)

WHERE:  Austin City Clerk’s Office – 301 W. Second St., Suite 1120, Austin, TX 78701

WHEN:  Wednesday, December 1 at 8:45 am CT (Organizers will turn in forms at 8:45am and be available to media at 9:00am)

RSVP:  Email press@groundgametexas.org to RSVP for the media event or request interviews. Representatives from Ground Game will be available for interviews after delivering the signatures to the city clerk’s office.

Filed Under: Events, Homepage Tagged With: activism, Austin, cannabis news, Ground Game Texas, legalization, marijuana news, MJ Biz, MJ Events, mjnews, MJNews Network, Smoke The Vote, Texas, TX, voter initiatives

Texas: Pharr PD to Implement “Cite-and-Release”

November 18, 2020 by MJ News Network Leave a Comment

Adopted policy allows officers to cite and release a person in possession of less than 2 oz. of marijuana, as allowable by state law

TEXAS: The City of Pharr Police Department will be implementing a new Cite-and-Release policy, which allows officers in the field an option to release a person with less than 2 oz of marijuana. This is a Class B misdemeanor where normally a person is arrested at the scene and transported to jail.

The policy adopted by the Pharr Police Department is governed by Article 14.06 of the Texas Code of Criminal Procedure, enacted as HB 2391 by the 80th Texas State Legislature in 2007, and allows for law enforcement officers to cite and release individuals who commit certain offenses. Due to the COVID-19 pandemic, the Pharr Police Department decided to adopt the “Cite and Release” policy and implement it department-wide to minimize the number of individuals being jailed for certain low-level misdemeanor offenses, in this case, possession of less than 2 ounces of marijuana, Misdemeanor B.

There are prerequisites to this option, and include the following:
1.  The offense must be possession of marijuana.  The marijuana must weigh less than two (2) ounces, Misdemeanor B.
2.  The offense must occur in Pharr, Texas
3.  The suspect must reside in Hidalgo County, Texas.
4. The suspect must be in possession of a valid driver’s license or identification.
5.  The suspect must be 17 years of age or older.
6.  Possession of marijuana must be the only offense in which the suspect is subject to arrest.

Officers will have the discretion to arrest or release at the scene. This policy simply gives them another alternative. If released, the person will still have to be arraigned at our municipal court within 14 days of the incident and will be released on a PR bond. The Possession of Marijuana Class B case will still be completed by our detectives and sent to the District Attorney’s office as any other case.

“This gives our officers a reasonable alternative to an arrest at the scene if the requirements are met,” said Pharr Police Chief Andy Harvey. “I believe this is another step in our efforts to police in a manner that adds value to community,” he continued.

“It’s important to note that this policy does not decriminalize anything, rather can provide a more dignified option for a low-level offense,” Harvey added. “We are partnering with the Hidalgo County DA’s office and our own municipal judge to make this possible. These are critical partnerships that when working together, can make a difference in our communities,” continued Harvey.

Hidalgo County District Attorney Ricardo Rodriguez stated, “Our office supports the efforts of the Pharr Police Department, and any other law enforcement agency, to implement this policy as allowable by state law.” He continued, “It is important that our community understand that the offense is not excusable and is still punishable by law, but this adds a level of flexibility to reduce our jail population.”

Mayor Ambrosio Hernandez, M.D., praised the leadership of Chief Harvey for implementing smart policing strategies as allowable under state law that will help provide fair alternatives for low-level offenses. “The offenders will still be held responsible for the offenses committed, but this will help to expedite justice in a fair and responsive manner,” Hernandez ended.

The new Cite-and-Release policy will begin implementation this week.

Filed Under: Decriminalization, Homepage, Legal Tagged With: cannabis law, Cite and Release, decriminalization, legalization, Mayor Ambrosio Hernandez, MJ Legal News, mjlegal, mjnews, mjnewsnetwork.com, normalization, Pharr, politicians on pot, politics of pot, Texas, TX

Latest Research On Blockchain In The Legal Cannabis Supply Chain Highlighted At SXSW

March 11, 2019 by MJ News Network Leave a Comment

Blockchain in Legal Cannabis: Weeding Out Supply Chain Inefficiencies is latest addition to research firms’ eBook series

TEXAS: Worldwide spending on legal cannabis is growing rapidly, but the market will not realize its full potential without efficient supply chains to deliver an expanding array of products. Blockchain technology could address this issue by providing greater visibility, traceability and transparency as well as facilitating regulatory compliance.

This is according to a new eBook titled Blockchain in Legal Cannabis: Weeding Out Supply Chain Inefficienciesfrom Chain Business Insights, an independent research firm focused on the application of blockchain and related technologies in supply chain management and trade finance. The eBook’s author, Sherree DeCovny, will present her findings at SXSW in Austin, TX on March 15, 2019.

Uruguay and Canada were the first countries to fully legalize cannabis, and more nations are following suit as its medical and recreational uses gain wider acceptance. Countries such as Colombia, Israel, Lebanon, Mexico and Thailand, where there are optimal growing conditions for cannabis, are looking to establish substantial legal export markets for the product. The potential economic benefits are vast considering the potential to fuel business growth, create jobs and raise tax revenue.

Blockchain in Legal Cannabis: Weeding Out Supply Chain Inefficiencies analyzes the cannabis market and the legal and structural issues that impede operational performance, particularly in the U.S. Cannabis is illegal at the federal level, which means that interstate commerce is prohibited. As a result, there is an imbalance between supply and demand across the country. Other constraints such as a lack of standards, limited access to banking services, and transportation restrictions including limits on when trucks carrying cannabis products can operate, create supply inefficiencies that drive up prices and disrupt supplies.

“For the cannabis industry to succeed, companies will need to build and manage efficient supply chains in a fragmented, highly regulated market,” says DeCovny, co-founder of Chain Business Insights. Blockchain could be a key enabler.”

The cannabis supply chain is inherently complex. Many national and international growers cultivate cannabis, which has to be tested and approved before being manufactured into various products and distributed to end customers. The patchwork of legal jurisdictions adds another layer of complexity.

The industry has started to develop the infrastructure and best practices that will underpin future supply chains, using cutting edge technologies such as Internet of Things sensing and machine learning. Blockchain technology is a key component of this effort.

“Blockchain is an excellent fit for the cannabis business, where numerous trading partners need to exchange information securely and have it updated instantaneously when product changes hands,” explains DeCovny. “Also, blockchain-based solutions can provide levels of supply chain traceability and visibility that the industry and regulators need.”

Smart contracts – computer code hosted on blockchains – can automatically implement business processes and execute contract terms. These capabilities can help companies to manage the transactional traffic created by the cannabis business.

The new eBook details existing and emerging blockchain solutions, and examines blockchain technology’s potential role in the industry. A case study shows how a blockchain platform in combination with other innovations is being used by a leading player in California to develop an efficient, end-to-end supply chain for cannabis products.  

“In addition to providing a guide to blockchain-related applications and developments for any company with an interest in the cannabis business, the eBook offers important market intelligence for supply chain practitioners outside the industry,” says DeCovny.

Supply chain management is one of the most promising application areas for blockchain technology. The way in which the “greenfield” cannabis industry is harnessing the technology in supply chains provides valuable insights for any practitioner.

To download the eBook, please visit https://www.chainbusinessinsights.com/blockchain-in-legal-cannabis-weeding-out-supply-chain-inefficiencies.html.

Attend session at SXSW – Blockchain in Cannabis: Boosting Market Efficiency.

Filed Under: Events, Homepage Tagged With: blockchain and cannabis, Blockchain in Legal Cannabis: Weeding Out Supply Chain Inefficiencies, cannabis supply chain, ebook, SXSW, Texas, the business of cannabis, the business of marijuana, TX

Alternative Health Secures $20 Million In Debt Financing For Expansion Of California Cannabis Operations

November 8, 2018 by drheins Leave a Comment

TEXAS: Alternate Health Corp., an international leader in technology solutions for the regulated cannabis industry, announced that the Company has signed a binding letter of intent with Agincourt Ventures, LLC to secure funding of $20 million, structured as a debt finance and limited stock purchase agreement, with the option to increase the total financing in the future with an additional note.
“This agreement solidifies our financial position as we aggressively expand into California’s lucrative adult-use cannabis industry,” says Dr. Michael Murphy, Chairman and CEO of Alternate Health. “We are eager to move forward, equipped with the financial power to secure inventory from cultivators, acquire revenue-producing assets and expand our licensed distribution and extraction facilities.”Capturing the California Market

On October 17, 2018, Alternate Health announced that the Company had obtained permits for cannabis manufacturing, distribution, cultivation, and processing, and leased a 14,800 square foot facility in Humboldt County, California. With stricter state regulation coming into effect in January 2019, Alternate Health sees a unique opportunity to acquire assets, inventory and significant market share from “grey market” businesses that do not hold valid California licenses.

With the initial $20 million, Alternate Health plans to ramp up operations at the Humboldt County facility and begin developing its signature Humboldt Ave. Cannabis artisan brand. In addition, the Company will produce manufactured products, including cannabis concentrates and infused edibles for wholesale and retail delivery. Distribution will target Greater Los Angeles and rapidly expand across the state. Alternate Health is currently in the process of retaining highly experienced industry professionals to lead distribution and manufacturing operations with state-of-the-art supply chain and inventory management solutions.

Alternate Health already has established relationships with a significant number of top cannabis cultivators in the Humboldt County region and expects to secure exclusive deals for up to 50,000 pounds of cannabis flower with an estimated retail value of approximately $160 million.* The Company will also leverage its relationships with dispensary locations in Los Angeles County to establish strong retail distribution channels in the most dynamic cannabis market in the world.

*Based on estimates from the California Growers Association’s report, Cumulative Tax Analysis, published in March 2018.

“The California adult-use cannabis industry is at a turning point as the state seeks to legitimize the industry and limit black market and grey market sales,” says Dr. Murphy. “With $20 million in initial funding and the opportunity to access additional capital, this agreement strategically positions Alternate Health to capture market share in the cannabis distribution and manufacturing sectors while continuing to develop additional business verticals.”

Terms of the Agreement
Under the agreement, Agincourt Ventures, LLC  will loan Alternate Health $19,600,000USD in two tranches of $9,600,000 on or prior to November 30, 2018 and $10,000,000 on or prior to December 20, 2018. Interest on the loan will accrue at a rate of 5.102% per annum and a maturity date of 12-months from the date of the closing.

Agincourt Ventures, LLC will also purchase one million (1,000,000) shares of Alternate Health Corp common stock at a purchase price of $0.40 per share, for an aggregate purchase price of $400,000USD as part of the agreement.

Filed Under: Business, Homepage Tagged With: Agincourt Ventures, Alternative Health, California, canna.tech, cannabis technology, Humboldt County, LLC, mjnews, pot stocks, potstocks, Texas, the business of cannabis, the business of marijuana, TX

Alternative Health Inks Multi-State Lab Deal

August 8, 2018 by MJ News Network Leave a Comment

TEXAS: Alternate Health Corp., an international leader in software solutions for the medical cannabis industry, announced today that the Company signed a binding contract on August 6, 2018, to provide laboratory services for a large multi-state laboratory provider. 
 
Alternate Health expects to begin testing samples in August and is targeting a ramp up to a monthly sample rate of 25,000 – 30,000 by December 2018. August is forecasted to begin with approximately 5,000 to 6,000 samples monthly with an increase of 5,000 to 6,000 additional samples per month. The assumptions on sample volumes, both to start in August and the December projections, were made after carefully reviewing the current needs and future growth projected by the referring entity.
 
Regional fees per sample run between US$50.00 to US$250.00, with averages falling into the US$130 to US$150 range. Costs and expenses associated with performing the tests certainly vary with volume, with Alternate Health’s historical numbers falling between US$35.00 to US$70.00 per sample.
 
“This is a major step forward for the Company and Alternate Health Labs,” says Dr. Michael Murphy, Chairman and CEO of Alternate Health. “This deal represents the culmination of all the hard work and dedication we have put into our laboratory strategy.”
 
In late 2017 through 2018, the Company completed a program of upgrades at Alternate Health Lab’s San Antonio facility. As a result, Alternate Health Labs now has the capacity to run blood, toxicology, allergy, pharmacogenetics, respiratory pathogen panels and women’s health panels. 
 
“With this agreement, Alternate Health will benefit from the investments we have made in our laboratory business,” says Dr. Murphy. “We are excited to build a stable financial foundation to move forward with our mission to be the technology leader in the international cannabis industry.”
 

Filed Under: Business, Homepage Tagged With: Alternative Health Corp, canna.tech, medical cannabis industry, software, Texas, the business of cannabis, the business of marijuana, TX

Alternative Health CEO Updates Shareholders On Spinoff Plans

May 10, 2018 by MJ News Network Leave a Comment

TEXAS: The CEO of Alternate Health CEO this week provided further details about the company’s spinoff plans and key milestones for the upcoming quarters.

“The Company has been very active this year adjusting our business for revenue generation and growth, including developing our potential spinoff plan for Alternate Health’s non-cannabis assets,” says Dr. Michael Murphy, Chairman and CEO of Alternate Health. “We are excited about this plan, but we want to assure our shareholders that we will only act on this plan when the right conditions are met across the business.”

According to a company press release, management has received board approval to explore a spinoff plan for the company’s non-cannabis assets; it is estimated to take at least three to four months to complete this due diligence process. In the meantime, there are at least four key milestones Alternate Heath plans to meet before acting, including:

  • Laboratory referrals back above 10,000 samples per month and growing.
  • Our payment engine for non-cannabis transactions has at least 2 contracts with testing and implementation underway.
  • Cannabis payment engine fully integrated to the CanaPass/StatePass system and revenue has started.
  • Recreational cannabis sales have started with a good business plan and prospects for future growth.

Should the above criteria be met, and final decision made, the Board expects to seek shareholder approval and that all shareholders would receive their pro rata share of ownership in both companies, on a 1:1 ratio.  Tax implications must also be considered prior to a final decision being taken.

Alternate Health’s focus continues to be on maintaining shareholder value, therefore: Only equity dilution to be based on any capital raise associated with the Newco offering.

Part of any newly raised capital would be used to hire management to oversee and expand each new primary division in the company.

No decision has been made on the final division of company assets between the NewCo and Alternate Health. In particular, Alternate Health is exploring different options for the Company’s laboratory business. The Lab could move to the non-cannabis NewCo or stay in Alternate Health. Another option could see the Lab move to the NewCo and pay a long-term royalty to Alternate Health.

“We believe the proposed spinoff of the Company’s non-cannabis assets is the best plan to maximize the value and revenue potential of the Company’s assets,” says Dr. Murphy. “The Board will be busy performing our due diligence and will update shareholders in time.”

Independent Director Resigns
The Company also announces a change to Alternate Health’s Board of Directors. Kristin Taylor has tendered her resignation as an independent director to focus on her full-time career obligations. The company is actively looking for an independent director to fill Ms. Taylor’s seat on the Board.

Filed Under: Business, Homepage Tagged With: Alternative Health, business news, Dr. Michael Murphy, Kristin Taylor, medical cannabis, mjnews, mmj, Texas, the business of cannabis, the business of medical marijuana, TX

  • 1
  • 2
  • 3
  • …
  • 6
  • Next Page »

Connect with Us!

  • Email
  • Facebook
  • Instagram
  • LinkedIn
  • Pinterest
  • RSS
  • Tumblr
  • Twitter
  • Vimeo
  • YouTube

Top Stories

New WHO Study Shows Tobacco, Alcohol and Cannabis Use Among French Adolescents Went Down During COVID-19 pandemic

FRANCE: Tobacco, alcohol and cannabis use among French adolescents has decreased in the last decade, particularly between 2018 and 2021 and following the COVID-19 outbreak in 2020, finds WHO/Europe’s collaborative Health Behaviour in School-aged Children (HBSC) study.  In France, as across the WHO European Region, measures taken to control the COVID-19 pandemic disrupted the lives Read the full article…

OPINION: The Medical Community Must Embrace Standard Cannabis Education

By Timothy Byars, Director of Cannabis Programs, Pacific College of Health and Science On July 21, 2022, Senate Majority Leader Chuck Schumer (D-NY), and Senator Cory Booker (D-NJ) filed the Cannabis Administration and Opportunity Act (CAOA), a bill that ends federal cannabis prohibition, establishes federal cannabis tax rates, expunges some cannabis convictions, and enables the Read the full article…

Oregon State Research Shows Hemp Compounds Prevent Coronavirus from Entering Human Cells

OREGON: Hemp compounds identified by Oregon State University research via a chemical screening technique invented at OSU show the ability to prevent the virus that causes COVID-19 from entering human cells. Findings of the study led by Richard van Breemen, a researcher with Oregon State’s Global Hemp Innovation Center, College of Pharmacy and Linus Pauling Institute, Read the full article…

Curt’s Cannabis Corner: Cannabis for Inflammation

Welcome to Season 2, Episode 3 in the multi-media educational series Curt’s Cannabis Corner from technical writer Curt Robbins at Higher Learning LV and MJNews Network. This series is intended for cannabis and hemp professionals—and the enterprise organizations that employ them—who wish to gain a better understanding of the nuanced biochemistry, volatile business environment, and Read the full article…

Curt’s Cannabis Corner: CBD For Epilepsy

Welcome to Season 2, Episode 2 of Curt’s Cannabis Corner, an education series from technical writer Curt Robbins at Higher Learning LV and MJNews Network intended for cannabis and hemp professionals—and the enterprise organizations that employ them—who wish to gain a better understanding of the nuanced biochemistry, volatile business environment, and detailed regulatory oversight of Read the full article…

More Posts from this Category

Cannabis and Cannabis-Derived Compounds: Quality Considerations for Clinical Research Guidance for Industry

Switzerland Cannabis Markets Report 2023: Comprehensive Guide to the Size and Shape of this Emerging Market – Forecasts to 2027 – ResearchAndMarkets.com

Global Cannabis Brand Cookies Celebrates Opening of Grand Rapids Flagship Dispensary With Michigan’s NOXX

Tags

CA California Canada cannabis cannabis news CBD changing attitudes CO Colorado DC decriminalization dispensary District of Columbia end failed war on drugs end of failed war on drugs failed war on drugs Hemp I-502 legal cannabis legalization legal marijuana marijuana marijuana business medical cannabis medical marijuana mjlegal MJ Legal News mjnews MJNews Network mjnewsnetwork.com mmj New York NORML NY Ohio OLCC OR Oregon politicians on pot recreational marijuana the business of cannabis the business of marijuana WA Washington WSLCB

Search By State:

  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

© Copyright 2014 MJBA Publishing · MJ News Network · All Rights Reserved ·