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Beginning next month, adults in Connecticut will be able to buy up to half an ounce of marijuana in a single retail transaction—double the state’s current purchase limit of a quarter ounce.

Connecticut’s Department of Consumer Protection (DCP) announced the scheduled increase on Wednesday, explaining that the limit is the result of ongoing analysis of supply and demand and is designed to “ensure businesses are able to maintain adequate supply for both adult-use consumers and medical marijuana patients.”

Limits on medical marijuana purchases, currently set at five ounces per month, will remain unchanged.

“DCP has continually reviewed available supply and demand since prior to the launch of the adult-use cannabis industry in January 2023,” DCP Commissioner Bryan T. Cafferelli said in a statement. “As more retailers, production companies and other supply chain licensees have come online, the capacity of the industry has increased. We are confident this measured approach to adult-use sales has resulted in a healthy market for businesses, and a safe and fair marketplace for adult-use cannabis consumers and medical marijuana patients.”

The half-ounce limit applies to adult-use purchases of marijuana. Cannabis possession, meanwhile, is limited to 1.5 ounces for adults, plus up to five ounces that must be kept in a locked container at home or a locked glovebox or trunk, DCP said. Purchased cannabis must be kept in its original packaging, locked up and out of reach of children.

Purchase limits on products besides raw cannabis flower are set by equivalence. For example, DCP said the new limits would limit adults to buying no more than 14 prerolled joints that way a gram apiece, four to eight vape cartridges or about 170 servings of edibles, which are limited to no more than 5 milligrams of THC per serving.

Home cultivation of marijuana for personal use, meanwhile, became legal in Connecticut this past July.

Connecticut legalized marijuana for adults through the legislature in 2021, and two years later, sales numbers are still growing quickly. This year, the adult-use market has seen multiple consecutive record-setting months of legal purchases. September, the most recent month for which sales numbers are available, saw $14.4 million worth of adult-use sales and medical cannabis sales of $10.8 million.

The state also launched a new fund in August to help support social equity marijuana businesses. The loan program will provide financial assistance to help people who’ve been disproportionately impacted by prohibition expand their operations in the legal industry.

In July, meanwhile, the state adopted tax breaks for legal cannabis businesses that are currently prohibited for making federal deductions under an Internal Revenue Service (IRS) code known as 280E. Giving marijuana businesses the state-level 280E workaround is expected to translate into $4.7 million in industry relief for the 2024 fiscal year, which will increase to $6.2 million in the 2025 fiscal year, the governor’s office said.

Home Values Have Increased Significantly More In States That Legalized Marijuana Than Those That Kept Criminalization, Real Estate Study Finds

The post Connecticut Officials Double The State’s Marijuana Purchase Limit For Adults appeared first on Marijuana Moment.

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Cannabis used by brain tumor patients

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Cannabis News October 31, 2023

• Medical Cannabis News
• Marijuana Business News

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A Pennsylvania House committee is convening an informational meeting to hear from experts about adult-use marijuana legalization as legislators chart a path for the reform, which the panel’s chairman said may involve consideration of a state-run cannabis sales model.

While the House Health Subcommittee on Health Care won’t take up any specific legislation on Wednesday, members will have the chance to listen to testimony from professors, advocates and addiction specialists about the health considerations of moving forward with legalization in the Keystone State.

The subcommittee is chaired by Rep. Dan Frankel (D), who has previously sponsored cannabis legalization legislation and circulated a cosponsorship memo earlier this year previewing plans to file another reform bill this session.

Watch the committee hold the marijuana legalization information meeting live in the video below: 

Frankel told Marijuana Moment in a phone interview last week that the measure he’s planning to introduce early next year will likely be “quite different” from the version he previously sponsored, and it will be partly informed by the meetings members hold in his panel. The lawmaker expects there will be two or three meetings to discuss the reform before a bill is brought to the full committee.

“My framework for addressing this overall, which is what we’ll try to fit into this hearing, is as we move forward with an adult-use bill, focusing on for safety, equity—particularly with respect to restorative justice—and also revenue for the state and access for folks,” Frankel said.

“My goal would be to find something that that our entire conference can support—and I would expect that there would be some bipartisan support for this legislation,” he said. “I think it’s very important that we have bipartisan support if we’re going to send something over to the Senate, which is controlled by my Republican colleagues.”

The chairman said that lawmakers will be looking at a variety of state regulatory models and “what we could do better” in Pennsylvania, noting that certain states have “come forward with some pretty interesting ideas as well that we want to hear about, so we’ll be looking at those as well as we craft something.”

One of those interesting ideas that the chairman said is “certainly an option” is the model of state-run cannabis stores, similar to what’s been proposed and is being actively considered in the New Hampshire legislature as a commission there explores legalization options.

“It has some political challenges to go that way, but in some ways, it makes sense if you want to roll out adult-use quickly and safely,” he said. “That could be part of the retail dispensary operation—having that administered as well, since there’s already that infrastructure there with respect to alcohol,” the sale of which the state currently controls in Pennsylvania.

“So there’s some interest in looking at the state store system as part of it—not necessarily entirely—but as part of the distribution system or dispensary system,” Frankel said. However, he recognized that beside political challenges, with certain conservatives already critical of the state’s alcohol system, there’s also the fact that Pennsylvania purchases much of the alcohol that is sold at retailers from out-of-state companies, which is “not an option with respect to cannabis” under federal prohibition.

With a new, narrow Democratic majority in the House this session and support from Gov. Josh Shapiro (D), the prospects of legalization in Pennsylvania picked up—but there’s still an open question about how the GOP-controlled Senate might approach reform if the opposite chamber delivered it a bill.

That said, more Republican senators have come on board with the policy change, with a bipartisan legalization measure already having been filed in the body this session by Sens. Dan Laughlin (R) and Sharif Street (D), for example.

Last year, the Senate Law and Justice Committee held a series of hearings on marijuana legalization that were meant to inform legislation that the panel’s Republican chairman, Sen. Mike Regan (R), was drafting.

At Wednesday’s meeting, the House panel will hear from Carnegie Mellon University professor Jonathan Caulkins, Penn State College of Medicine professor Kent Vrana, New Frontier Data Chief Knowledge Officer Amanda Reiman and a representative of the addiction prevention community.

A staffer for Frankel told Marijuana Moment last week that issues covered will include the impact of legalization on the illicit market, the health implications of marijuana use and the economic and industry potentials of the policy change.

Cannabis industry stakeholders were intentionally excluded for this initial meeting in order to allow members to hear from those who don’t have a direct investment in the potential market and learn more about “the contours and the landscape that they’re going to be looking at as they consider legalization,” a committee staffer said.

In addition to the more conventional legalization proposal that’s being sponsored by bipartisan senators this session, House lawmakers have also filed separate bills to legalize marijuana sales through state-run stores and to provide permits for farmers and small agriculture businesses to cultivate cannabis once adult-use sales are allowed.

Also, earlier this month, the House approved a large-scale tax reform bill that contains language to provide state-level relief to medical marijuana businesses as they continue to struggle under federal financial barriers. The reform drew the ire of Republican members—who normally champion tax cuts—as a Democratic giveaway to the cannabis industry.

Another measure to allow all licensed medical marijuana grower-processors in the state to sell their cannabis products directly to patients cleared the Senate in September, and it advanced through the House Health Committee on Monday.

Former Gov. Tom Wolf (D), who came around to support legalization near the end of his term, also signed large-scale legislation last year that included provisions to protect banks and insurers in the state that work with licensed medical marijuana businesses.

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Black lawmakers separately discussed the need to ensure equity considerations are at the center of any marijuana legalization plan at a conference last month.

Shapiro, the governor, supports enacting cannabis reform and proposed to legalize and tax adult-use marijuana as part of his 2023-2024 budget request in March.

Meanwhile, Laughlin, who is sponsoring legalization legislation this session, also sent a letter to state law enforcement in February, urging officials to take steps to protect gun rights for cannabis consumers, particularly medical marijuana patients, in light of a federal court’s recent ruling on the issue.

Trump Team Says DeSantis Should Use Marijuana Edibles To Deal With Presidential Campaign Stress

 

The post Watch Live: Pennsylvania House Committee Holds Marijuana Legalization Hearing As Lawmakers Consider State-Run Stores appeared first on Marijuana Moment.

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Christina Lake Cannabis Corp. (CSE: CLC) (OTCQB: CLCFF) reported a revenue increase of 30% in its third-quarter financial results ending Aug. 31, marking a rise to $8.9 million over the same nine-month period last year, the company announced Tuesday.

The revenue growth is primarily driven by an 85% surge in distillate volumes sold, despite a decrease in distillate market prices, according to the Vancouver-based cannabis producer.

Gross profit stood at $4 million, or 45.2% of revenue before adjustments to the fair value of inventory, reflecting a decline in profitability from the previous year’s margin of 52.3%. This year’s margin contraction was due mainly to lower wholesale distillate prices, which also led to a 49% increase in cost of goods sold.

General and administrative expenses fell by $137,000 or 4%, a reduction attributed to lower consulting fees, management fees, insurance, marketing, share-based compensation, and repairs and maintenance costs. However, that decrease was partially offset by an uptick in depreciation, professional fees, research and development, salaries, and regulatory fees.

The company’s income for the quarter was $495,000, a significant drop from the $2.2 million reported in the same period last year. The decline is largely due to a $1.1 million increase in the changes in fair value of inventory sold, coupled with a lack of one-time income from settlements and debt modifications that benefited the previous year’s results.

Christina Lake Cannabis’s working capital was reported at $4.14 million consisting of cash, receivables, prepaid expenses, inventory, and biological assets, while facing current liabilities of $5.94 million.

CEO Mark Aiken credited the company’s response to market conditions and the introduction of new product lines for the strong sales performance, highlighting customer satisfaction and repeat business as key factors in the company’s continued success.

“Our continued success is a testament to our relentless pursuit of excellence, our continuous drive for operating efficiency, and our focus on innovation,” Aiken said in a statement Tuesday.

Early morning trading for CLCFF was up nearly 20% on the news.

The post Christina Lake Posts 30% Revenue Jump in Q3 Amid Price Woes appeared first on Green Market Report.

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A new study claims the importance of terpenes in cannabis has been overemphasized.

The study, published in ACS Omega, noted that while cannabis consumers have been taught that there are two types of plants – indica and sativa – the reality is that modern cannabis is mostly a hybrid.

In addition, the terpene profile remained remarkably similar across various cannabis strains, the researchers said, indicating only a minor contribution to the varieties. The team, led by Iain Oswald, principal scientist for Abstrax Tech, analyzed 31 different rosin cannabis extracts to reach their conclusions.

“Our sensory analysis revealed highly divergent aroma characteristics for many samples that we broke down into three primary classes: sweet exotic, prototypical, and savory exotic,” the authors wrote. “We found that varieties across both sweet and savory exotic classes often have very similar terpene profiles, indicating that they are not the driving force behind the unique aromatic differences.”

The study stated that terpenes are generally classified into three varieties:

• Terpinolene/ß-myrcene
• D-(+)-limonene/ß-caryophyllene
• ß-myrcene/pinene.

But the result of the terpene profile isn’t that clear cut.

For example, the study found that “Dogwalker OG, which possesses a skunky and woody aroma, was found in the same D-(+)-limonene/ß-caryophyllene cluster as Tropicana Cookies, which possesses an intense citrus and tropical aroma. Purple Punch, which possesses a sweet, grape-like scent, was also found in this cluster.”

The study also noted that aroma is subjective to the consumer.

New Source for Cannabis Aroma

So what’s behind these results?

The researchers used “detailed chemical analysis using two-dimensional gas chromatography” to reveal that minor, nonterpenoid compounds appear to be responsible.

“While found in low concentration, often accounting for less than 0.05% of the mass of the samples, their odor impact can be substantial,” the study said.

In other words, these substances are small but powerful.

More specifically, the study identified volatile sulfur compounds that generate different aromas. One family resulted in a skunky, gas-like aroma, while another unique class produced “tropical nuances.”

The study said, “Our results yield a more complete understanding of the unique aromas that cannabis produces and help establish these nonterpenoid compounds as an important part of the phytochemistry of cannabis.”

What it Means for Terpenes

While the discovery that terpenes have less influence than originally thought won’t affect the plant, it could have ramifications for cannabis marketing. Consumers have been educated to believe that these terpenes are behind various strain profiles.

Now that science says that isn’t the case, it could affect product development, packaging, and even testing protocols.

At the same time, the introduction of this new class of compounds could present a wholly new marketing opportunity.

The first might be to rename them. “Terpenes” has a much better ring than 3-mercaptohexanol.

The post New Study Says Terpenes Overrated appeared first on Green Market Report.

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