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Illinois officials recently released the Annual Cannabis Report for Fiscal Year 2024. The 144-page report, compiled by the Cannabis Regulation Oversight Office (CROO), incorporates data from several state departments. Hemp Rules on second notice to be approved by end of 2024. Begin implementation of updated USDA Hemp Rules.
12, 2024, meeting in Springfield. percent THC the cultivator may remediate the lot by shredding, blending, or sorting the plant material in a manner that reduces the THC concentration to an acceptable level, and then have it retested. These rulemakings will be considered at the Nov. Samples that test higher than 0.3
For 2024, we have added more advertising options, new services, and updated our logos and website. The continuous feedback, concerns, and questions received from Illinois cannabis insiders keeps our finger on the pulse of the industry, consumer interests, latest data, latest trends, and medical patients needs.
With our educational Know Your Brand series, we are trying to let our readers and followers know about the many new brands and products coming to Illinois in 2024. One of those brands with new products is Cannect Wellness , a premium craft cannabis cultivator and product manufacturer. Cannect Wellness was founded in Illinois in 2020.
percent THC the cultivator may remediate the lot by shredding, blending, or sorting the plant material in a manner that reduces the THC concentration to an acceptable level, and then have it retested. Industrial hemp cultivators must file their final annual reports by Dec. percent by dry weight. Samples that test higher than 0.3
22, 2024, for “establishing a process through which craft cannabis growers may apply to DOA ( Illinois Department of Agriculture ) to increase canopy space in increments of 3,000 square feet up to the maximum allowed under the Act for craft growers (changed since 1st Notice from a maximum of 14,000 square feet).”
Illinois proposed the new rule that allows craft grower to request an increase of 3,000, 6,000 or 9,000 square feet of canopy space in October 2023 and the new rules were adopted Feb. 1) A craft grower may request an increase of 3,000, 6,000 or 9,000 square feet of canopy space.
California Cannabis Cultivation Tax Eliminated. The budget trailer bill eliminated the cannabis cultivation tax beginning July 1, 2022. The harvested cannabis was first sold or transferred by a cultivator to a distributor on or after July 1, 2022. Delivery Data Required to be Reported in Metrc.
A study from Ohio State University , using Michigan’s first-year cannabis sales data in 2021, projects Ohio could generate between $275-403 million in annual cannabis taxes within five years of launching its own recreational market. Legal recreational sales won’t solely reflect economics—social values matter too.
For example, by the year 2024, more than 1 million German patients will be able to get their hands on medicinal-grade cannabis. Under existing German law, cannabis can be cultivated, sold, owned, imported, and exported. Cansativa is acknowledged as the only distributor of domestically cultivated cannabis in Germany.
So beyond speculations and armchair theories, there is ample evidence, from report statistics and from empirical data from the field, to conclude that the sue of illicit substances is a contributing factor to the worsening security situation in Nigeria. billion dollars by 2024,” he said, according to the Nigerian Tribute.
Over $140 Million in Revenue Expected Over the First Three Years of Cultivation and Over $400 Million in Total Revenue Projected for the 10-Year Term of the Agreement. Gold Leaf is one of only 22 licensed centers and one of only 16 active operators in Florida, and the organization is planning to open 20 dispensaries in the state by 2024.
NASDAQ: FLGC) (“Flora” or the “Company”), an all-outdoor cultivator and manufacturer of global cannabis products and brands, today announced it has closed the previously announced € 2M (two-million Euros) investment in Hoshi International Inc. MIAMI & TORONTO–(BUSINESS WIRE)–Flora Growth Corp. of the market. billion by 2028.
However, new polls have suggested that recreational cannabis might face a lot of opposition on the 2024 ballot. If Smart & Safe Florida’s request eventually qualifies to be on 2024’s ballot, it has to receive a minimum of 60% votes. We don’t really know the answer from these data in terms of how that vote might turn out.”
The new law legalizes cannabis possession up to one ounce, as well as cultivation of up to four personal plants per household, but requires that the grower tags their plants with their driver’s license/ID and a note saying that they are being grown for personal use.
Tilray” or the “Company”) (NASDAQ | TSX: TLRY), a global pioneer in cannabis research, cultivation, production, and distribution, today held its first Annual Meeting of Shareholders as the ‘new’ Tilray, the leading cannabis-lifestyle and consumer packaged goods company with the largest global geographic footprint in the industry.
The launch plans of HANF SWISS coincide with the recent announcement by EuroLife on November 22, 2019 whereby the Company entered into a binding letter of intent for a participation interest in a large-scale advanced staged hemp cultivation project near Dresden, Germany.
Cultivation. Based on 2022 cannabis salary data , industry salaries are expected to slightly increase over last year’s salaries. Cultivation Technician. Director of Cultivation. Expect a flurry of new cannabis jobs across all sectors (cultivation, manufacturing, retail) this year. Manufacturing. Distribution.
Simon, Tilray’s Chairman and CEO, said, “Backed by accelerating trends towards legalization globally, we are focused on building the world’s leading cannabis-focused consumer branded company with a goal of $4 billion of revenue by the end of our fiscal 2024. market when legalization allows.”. federal laws.
Simon, Tilray’s Chairman and CEO, said, “Backed by accelerating trends towards legalization globally, we are focused on building the world’s leading cannabis-focused consumer branded company with a goal of $4 billion of revenue by the end of our fiscal 2024. market when legalization allows.”. federal laws.
Under this legislation, adults over the age of 21 are able to possess and cultivate cannabis for their own personal use. However, the legislation did not put forth the requirements to provide commercial access to products until 2024.
The legislation outlines three separate rounds of licensing, with the first round scheduled for the fall of 2023 and the second round in 2024. What are the rules for purchase, possession, and home cultivation? Home cultivation products. Can I apply for a cannabis license? Usable cannabis products (e.g.,
The legislation outlines three separate rounds of licensing, with the first round scheduled for the fall of 2023 and the second round in 2024. What are the rules for purchase, possession, and home cultivation? ounces of cannabis flower, up to 15 grams of concentrate, and up to six cannabis plants per household for personal cultivation.
In addition, it creates five types of licenses that will govern cultivation, manufacturing, testing, wholesale and retail sale. While preliminary work on the regulatory structure will begin this Summer, if reenacted in 2022, the legal commercialization and retail sale of marijuana will not take place until January 1, 2024.
According to recent polling data , nearly seven in ten Americans, including majorities of all major subgroups by gender, age, income and education, and including majorities of Democrats, Independents, and Republicans, believe that the use of marijuana should be made legal. The law took effect on June 29, 2021.
In its offer, the company notes that even though the Australian market only had a modest size of $25 million in 2018, Frontiers Data suggests the total addressable market if the environment were deregulated would be worth approximately $5.5 million medicinal cannabis market value by 2024.
The state’s medical cannabis program did not have dispensaries, meaning there were no cannabis businesses that could transition to adult-use cultivators and retailers. The legislature and governor had legalized personal possession and cultivation only in 2018. Phil Scott (R) allowed S. 54 to go into law without his signature.
The Utah Department of Agriculture and Food (UDAF) is urging all companies that plan to apply for one of the limited number of licenses to cultivate medical cannabis in the state to start the process of obtaining the required background checks now. billion in 2024, nearly triple the US$14.9 billion estimated for this year.
If authorized, medical patients can cultivate up to two flowering and two non-flowering cannabis plants. Patients cannot cultivate without explicit authorization. The measure included cultivation and possession of cannabis without any regulation on taxation or sales.
According to MJBizDaily data, Missouri outsold Maryland, Connecticut and even the chaotic and problem-laden New York cannabis industry. Within the first month of 2024, the total amount of all-time cannabis sales in Missouri easily surpassed $2 billion. Going into 2024, Missouri will remain a state worth watching.
27, after each body passed different measures— Senate Bill 1406 and House Bill 2312 —to legalize cannabis possession, personal cultivation and retail sales for adults 21 years and older. Statewide polling data released Feb. The state’s legislative chambers overcame differences to pass a compromise bill on Feb. The problem?
In total, Oregon has approved an astonishing 3,000 licenses for cultivation, production, or retail sales of cannabis. in February 2024 according to data aggregate site Headset.io. Although this was a unique regulation at first, the aftermath was a gross market oversaturation seen in almost no other state of its size.
The tax structure approved by county voters in 2018 sets a four percent tax on gross sales revenues from cannabis cultivation, as reported every quarter to the county Treasurer-Tax Collector by the growers themselves. That “self-reporting” has led to some loss of tax revenues, county officials say, though they don’t know how much.
27, after each body passed different measures— Senate Bill 1406 and House Bill 2312 —to legalize cannabis possession, personal cultivation and retail sales for adults 21 years and older. Statewide polling data released Feb. The state’s legislative chambers overcame differences to pass a compromise bill on Feb. The problem?
27, after each body passed different measures— Senate Bill 1406 and House Bill 2312 —to legalize cannabis possession, personal cultivation and retail sales for adults 21 years and older. Statewide polling data released Feb. The state’s legislative chambers overcame differences to pass a compromise bill on Feb. The problem?
27, after each body passed different measures— Senate Bill 1406 and House Bill 2312 —to legalize cannabis possession, personal cultivation and retail sales for adults 21 years and older. Statewide polling data released Feb. The state’s legislative chambers overcame differences to pass a compromise bill on Feb. The problem?
The US Department of Agriculture (USDA) has released new data indicating a substantial increase in the growth of US hemp production. Australia is poised to become a leader in cannabis cultivation with the announcement of a partnership between Sydney-based Greenfield MC and Emerald Plants Health Source. billion by 2024.
Historical evidence suggests that humans worldwide have been cultivating and consuming cannabis for tens of thousands of years, but cannabis use has skyrocketed in recent years, especially in the US. Virginia also legalized cannabis in 2021, but residents can expect to wait until 2024 before they can purchase cannabis products.
2024 is going to be a crazy year for cannabis businesses and investors. Today I want to talk about some of the biggest potential risks that I think cannabis businesses and investors will face in 2024. Why will 2024 be different? During that time, we’ve seen the industry face a whole host of problems.
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