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How do i industry sign banking new jersey living will

coming up on weedjock news the garden state goes green new jersey's governor phil murphy signs the adult news legalization bill we've got reaction ex-ceo of a weed delivery service in california pleads guilty to bank fraud deborah borchardt has that story shipping of vape pen products will become an issue in the next 30 days threatening an entire industry all that and more on we talk news this week we are pro cannabis media hi everyone welcome to this week's we talk news i'm jimmy young from pro cannabis media our top story has been anticipated since november when new jersey voters flocked to the polls to vote in adult use and sale of legal cannabis this week governor phil murphy signed the bill and tweeted out this week we made history by reforming a decade's old approach to marijuana that failed the meaning of justice at every level let's continue building on the progress and move forward together so now the big question facing many new jersey residents is when will the first stores open many advocates were frustrated with the delays in moving this forward even since november but this is supposed to be the beginning of a huge one billion dollar market three plus years we've been waiting for this bill to be signed so it's really historic i'm really relieved um it's really been a great week for me and for the people in new jersey so um i now the work begins though it's you know now we roll up our sleeves and we have to get the crc being uh finalized and we have to start getting some regulations in place before we can open up to new licenses and also worth mentioning our biggest lawsuit our class action lawsuit from our last cannabis round settled and that's been going on for a year and a half which was also holding up the licensing process so in one week we had two big wins we had a settled lawsuit and a bill signed but overall you know it's a good day i'm relieved it's a good time you know i thought this would be done a little sooner but you know all good things come to those who wait new jersey will still have to wait to open their first adult use recreational dispensary give it at least nine months uh to a year depending on how fast you really can get more dispensaries online with a lot of products we have a population of 9 million with 15 dispensaries to give you a sense of perspective the state of colorado has about half our population and the city of denver has 400 dispensaries so if we're talking about ratios here it's absolutely absurd we cannot serve our population right now so the arizona model while it would be great and i do hope we grandfather in our dispensaries i do believe we would i've heard nothing saying we won't and that's the quickest way to get this adult use out the door um they're going to be massively overwhelmed and the the access just isn't there so we need to get this licensing round going and going fast so now all eyes turn to new york where the battle over legalization is right in the middle of governor andrew cuomo's budget that battle is ongoing in the meantime let's go to new york for the green market report with deborah borchardt deborah this week james patterson the former ceo of california cannabis company ease pleaded guilty to one count of conspiracy to commit bank fraud and that's according to a report at law 360. now the plan was a scheme to deceive banks into processing more than 100 million dollars worth of credit card and debit card payments for cannabis purchases you may recall that visa and mastercard will not work with cannabis companies because it is still federally illegal so all of these transactions were committing bank fraud now it's expected that patterson is working with prosecutors to testify against the other defendants in an effort to lower his punishment privately held multi-state cannabis company parallel and the spak sarah's acquisition corp have entered into an agreement that would result in parallel becoming a public company this could happen this summer in 2021 the deal values parallel at 1.8 billion dollars with an expected net revenue of 447 million in 2021. acreage holdings sold acreage florida to red white and bloom brands for 60 million dollars now you may remember that acreage has said it was going to scale back from its initial plan to be in as many states as possible instead they're just going to focus on nine states and that's the big news this week i'm deborah borchardt from the green market report for we talk news [Music] there's been a lot of action lately on the legalization front in many states we're going to start in new york we already talked a little bit about their governor andrew cuomo who's building a fund sure enough he's trying to use social justice as a rallying cry to build out his plan to launch a legal adult use cannabis market he's now put on an amendment to his original plan by adding a 100 million dollar social equity fund for delivery services workforce education and the refinement of past criminal charges in new hampshire the house of representatives there has approved a legalization bill that will allow personal use growing and gifting of cannabis but not commercial sales getting it past their governor chris sununu will still be the biggest hurdle in the live free or die state in another new england state connecticut their governor ned lamont has introduced an adult use legalization plan with sales to begin may of 2022 but it too has a long way to go before it becomes law in alabama yes alabama the legislature there has passed a bill that approves a medicinal marijuana law with 20 medical conditions that would qualify you for your card the north dakota house of representatives have passed a bill to legalize adult use of cannabis and it now goes to that senate meanwhile the battle continues in south dakota as their governor christie gnome is not a fan of the voters wishes there who passed both a medical and an adult use question in the november election now advocates are negotiating a compromise while the court challenges continue in south dakota now it seems to me there's a lot of political movement on cannabis issues in many states while the federal government continues to focus on the covid relief fund no such issue in canada where that country continues to have a vibrant legal cannabis market here's mj biz daily's international bureau reporter solomon israel with the canadian cannabis report solomon i'm solomon israel from marijuana business daily international and this is the weed talk news canadian cannabis report canada's government statistics agency has released the grand total for legal sales of recreational cannabis in 2020. annual sales were 2.6 billion canadian dollars or about 2.1 billion us dollars in dollar terms that's a hundred and twenty percent more recreational cannabis than canadians bought in 2019. december sales of adult use marijuana in canada picked back up after a sluggish november and canadian marijuana producer canopy growth is looking to fill up its war chest canopy has filed a preliminary prospectus that would allow it to raise up to 2 billion by issuing new securities over a 25-month period the company had 825 million canadian dollars of cash on hand at the end of 2020. you can read those stories and more at i'm solomon israel for marijuana business daily here's this week's factoid courtesy of mj biz daily's factbook did you know that for every single dollar that is spent in the legal cannabis market two dollars and fifty cents gets injected into the economy that fact and more available in the mj biz daily factbook available on their website now you might remember the last coveted relief bill had a clause attached that might have a devastating effect on the vape market here in the u.s now it's okay if you missed it since it was on page 5136 of that bill i got up to about 3 500 and packed it in i'm only kidding the preventing online sales of e-cigarettes to children act that basically will stop the delivery of all components and elements used in any vaporizing device ups and fedex say they will ease delivering vape products beginning in march and on april 5th respectively the u.s postal service will cease residential delivery of vape products on april 26th these restrictions will quite possibly end the vaping industry in the u.s and needless to say that industry is pretty upset on friday's green rush live show at four on our pcm network we will interview dana shoked ceo of o2 vape who will explain how this happened it could have devastating effects on this part of the industry and for those who use a vape for their medicinal titration this is a big deal so remember to like share and subscribe to pro cannabis media and also tune in on friday for the green rush live for now that'll do it for this week's we talk news i'm jimmy young from pro cannabis media remember it's a whole new world of wheat out there use it responsibly thanks for watching thanks for listening [Music] hi i'm ben shower new england rep for sailing video management systems let me tell you what makes us different in the security space we're your trusted advisors for all your security needs i know how complicated the regulations are in cannabis and working with salient systems will be the polar opposite of that i give free consultations and will walk you through every step of the process so that you can get what you need at the price you can afford we're robust or simple and scalable we're salient systems your solutions to all your security needs please contact me at the information below and i'm looking forward to being your trusted advisor [Music] weed talk and in the weeds are two productions of pro cannabis media supported by revolutionary clinics one of the top medical cannabis dispensaries in the massachusetts area now with three locations in greater boston two in cambridge and one on broadway in somerville rev clinics has a patient first mission they will customize your needs as a medical patient with the proper titration and combination of strains flavors and products rev clinics where the patient comes first cannabis media programming is available live and on demand on our facebook page at pro canon media on instagram at pro cannabis media on linkedin also at pro cannabis media on youtube and youtube live on pro cannabis media twitter at procannamedia and on backslash pro cannabis media so like share and subscribe to all of our content newsletters and shows live or on demand we are pro cannabis media

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