Such degrees are likely to become more common, as the number of countries, cities and states in America with legal marijuana — be it recreational or medicinal — continues to multiply. Seller Green Thumb [Barron’s], Naperville’s medical pot dispensary open with new precautions during stay-at-home order [Naperville Sun], $850 million acquisition of Chicago marijuana company Verano Holdings called off [Chicago Tribune], Coronavirus: Here's how marijuana businesses are adapting to COVID-19 [Evansville Courier & Press], Yes, Illinois Cannabis Dispensaries Are Still Open Amid The Coronavirus Outbreak [St. Louis Public Radio]. In short, every cannabis company is experiencing an extra intense pandemic cash crunch right now. “A better reaction from the state should have been: If you don’t have an important component, apply with an explanation and we’ll send you a deficiency notice, but then show how the COVID-19 shutdown prevented you to get that component. The post Israeli College Offers Medical Cannabis Degrees appeared first on High Times. LICENSE AND REGULATION OF DISPENSING ORGANIZATIONS (Illinois Cannabis Regulation & Tax Act), HB1438: ARTICLE 20. Well, as you can see above, many U.S.-based public cannabis companies are burning through their cash piles pretty quick. Pam Altoff, Executive Director of the Cannabis Business Association of Illinois (CBAI), which represents most of the existing growers and dispensaries, applauded the Governor’s weekend announcement and says she was working with his team. 40 craft grower licenses, 40 infuser, and an unlimited number of transporter licenses will be issued starting July 1. Hoping to get a jump on things before this month’s expected announcement of Illinois’ craft grow licenses, craft grow applicant and cannabis attorney Scott Redman is announcing the launch of the Illinois Independent Craft Grower Association.. Aiming to serve craft growers unaffiliated with existing vertically integrated cannabis companies, Redman says, “There is power in numbers. Making things harder for U.S.-based cannabis companies is lack of access to debt capital. Please, extended application deadlines for craft grower, cannabis infuser, and transporter licenses to April 30, the busted $850 million acquisition of Verano Holdings by Harvest Health & Recreation, PharmaCann’s planned $682 million purchase of MedMen collapsed last October, Curaleaf’s acquisition of Grassroots Cannabis for $875 million in stock and cash, Cannabis license application deadline extended due to COVID-19 pandemic, Illinois extends cannabis application deadlines, Legalizing pot deliveries gains momentum during coronavirus crisis, How recreational weed went from illegal to essential in 3 months, Why Green Thumb Industries' Marijuana Sales Soared in Q4, Cannabis Has Gone From Illegal to Essential, Says U.S. “And in my estimation, that’s where we needed to focus. GENERAL PROVISIONS (Illinois Cannabis Regulation & Tax Act), HB1438: ARTICLE 60. Cannabis license application deadline extended due to COVID-19 pandemic [ABC7 Chicago], Illinois extends cannabis application deadlines [KFVS], Legalizing pot deliveries gains momentum during coronavirus crisis [Sun-Times], How recreational weed went from illegal to essential in 3 months [Sun-Times], Why Green Thumb Industries' Marijuana Sales Soared in Q4 [Motley Fool], Cannabis Has Gone From Illegal to Essential, Says U.S. “I know there were a number of teams that had problems securing property in time and getting the appropriate zoning sign offs. The current health crisis really didn’t kick in, in terms of business restrictions, until nearly the first deadline [March 16]. HB1438: ARTICLE 1. Predictably, the news has attracted widely diverging views, depending on your position in the industry. We are proud to be the first to develop an academic specialization in the field of medical cannabis.”. The Illinois Department of Agriculture (IDOA) has released the applications for Cannabis Infuser, Transporter and Craft Grower licenses, and will begin accepting completed applications Feb. 14, according to a local WGEM report.. A college in Israel will soon offer an undergraduate degree in medical cannabis, becoming the first institution in the country to offer such a program. Since equity markets are not a good place to get more money these days, public cannabis companies have had to get creative, through private debt offerings, or real estate leaseback programs with REITs specifically created for the purpose. TRANSPORTING ORGANIZATIONS (Illinois Cannabis Regulation & Tax Act), HB1438: ARTICLE 45. CANNABIS CULTIVATION PRIVILEGE TAX (Illinois Cannabis Regulation & Tax Act), HB1438: ARTICLE 65. “Nobody would have anticipated the stay-at-home order, but it did prohibit a lot of applications for companies incubating social equity companies from finishing their application process,” said Altoff. Then, starting July 1, 2021 up to 60 more craft growers and 60 more infusers could receive licenses. Findings. Because it’s a compulsory-obsessive habit, we scour the news across Illinois for what’s going on with cannabis. 1-5. No amount of Federal Reserve liquidity actions will likely impact cannabis, as CFOs clamp down on every out-going cash flow item they can find. by the. Seller Green Thumb, Naperville’s medical pot dispensary open with new precautions during stay-at-home order, $850 million acquisition of Chicago marijuana company Verano Holdings called off, Coronavirus: Here's how marijuana businesses are adapting to COVID-19, Yes, Illinois Cannabis Dispensaries Are Still Open Amid The Coronavirus Outbreak. And then you could provide that feature by the 30th of April,” said Redman. The other big Illinois news was the busted $850 million acquisition of Verano Holdings by Harvest Health & Recreation, the second big acquisition deal to fail, after PharmaCann’s planned $682 million purchase of MedMen collapsed last October. The school, Max Stern Yezreel Valley College, made the announcement Monday, saying that incoming students will be able to earn a bachelor of arts degree in behavioral sciences with a specialization in medicinal marijuana. CANNABIS PURCHASER EXCISE TAX (Illinois Cannabis Regulation & Tax Act), Social Equity in Illinois Cannabis Industry, Illinois Craft Grower License – Craft Cannabis, Illinois Cannabis Advertising, Promotion, Packaging, Labeling, Israeli College Offers Medical Cannabis Degrees. Also by december 21, 2021, the department of agriculture shall issue up to another 60 craft grower licenses in Illinois. Illinois Compiled Statutes Table of Contents. LABORATORY TESTING (Illinois Cannabis Regulation & Tax Act), HB1438: ARTICLE 55. If there’s a choice on where to draw the line, we should be working to increase access rather than limiting it over a situation we had no control over.”. Even when it did kick in, recorders’ offices, title companies, and so on, were still functioning, and largely still are to some degree. Medical marijuana has been legal in the country since the 1990s, and in the spring, the Israeli government decriminalized pot, though it remains illegal. ENFORCEMENT AND IMMUNITIES (Illinois Cannabis Regulation & Tax Act), HB1438: ARTICLE 50. “This industry is already characterized by many new ventures and technologies, and it is already clear that its economic potential can reach tens of billions of dollars. SOCIAL EQUITY IN THE CANNABIS INDUSTRY (Illinois Cannabis Regulation & Tax Act), HB1438: ARTICLE 10. We’ll take another look next week. Craft growers and infusers had already seen one extension, from March 16 to March 30, whereas transporter licenses were due today, March 30. Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. Scott Redman, an attorney who is part of an independent craft grower applicant group, says moving the craft grower deadline a second time was unfair to applicants like his team, who he says was ready for the first, March 16, deadline. The big Illinois news is that over the weekend Gov. Normally, we’d round up some of the more interesting cannabis events coming up around Illinois. But for now, cancellations are coming fast and furious, so we aren’t listing any events. “These craft grower, infuser and transporter licenses are vital to the success of Illinois’ emerging cannabis industry,” said Jeff Cox, Bureau Chief of Medicinal Plants at IDOA. While regular American companies have been frantically drawing down on their credit lines, cannabis companies, hobbled by their semi-legal status, are forced to bank with state chartered banks, which tend to have less ability to lend than say Citibank, and often charge high interest rates for the legal risk of working with cannabis companies. The Israeli scientist Raphael Mechoulam is recognized as one of the first individuals to both isolate the psychoactive property of marijuana and realize its potential therapeutic benefit. Information maintained by the Legislative Reference Bureau, Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process. Craft growers and infusers had already seen one extension, from March 16 to March 30, whereas transporter licenses were due today, March 30. Don't worry; we respect your inbox and won't flood it with meaningless fluff. But those projects take time to close, unlike credit lines which are instantly accessible, or bank debt, which can take a week or two, if that, to close. But also, if you’re running an event and YOU’RE POSITIVE it’s still going to run, drop a line to mike@grownin.com. This site requires JavaScript to run correctly. Good Morning! Altoff disagrees. Medical cannabis, the school said, represents one of Israel’s “most prosperous industries.”, Israel has a long, meaningful history with cannabis. J.B. Pritzker extended application deadlines for craft grower, cannabis infuser, and transporter licenses to April 30. AUTHORITY (Illinois Cannabis Regulation & Tax Act), HB1438: ARTICLE 7. “It’s a process that if you’re able to get it all done by the original deadline, shows your ability to accomplish a task,” said Redman.
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