#californiacannabis – “The Hermosa Beach City Council voted unanimously this week to proclaim it is officially opposed to the resident-led initiative on the Nov. 8 ballot that, if passed, would allow up to two commercial marijuana dispensaries in the city. City officials said it was important to send a strong signal to its residents that it is not in favor or retail cannabis sales. And, unlike nearby cities where competing city-sponsored cannabis measures are being considered by councils, Hermosa Beach likely will not put a competing measure on the ballot.”
#hempproducts – “A three-judge panel of the United States Court of Appeals for the Ninth Circuit upheld the United States District Court for the Central District of California’s ruling in AK Futures LLC v. Boyd Street Distro, LLC, finding that the 2018 Agricultural Improvement Act (the “Farm Bill”) legalized delta-8 THC. Delta-8, one of the 100-plus cannabinoids produced in the cannabis plant, has recently garnered heightened interest and attention for its ability to deliver psychoactive effects similar to (but milder than) those delivered by delta-9 THC, and because it can be sold in several states outside of the regulated cannabis marketplace in retail outlets like CBD shops. While legal controversy has swirled around delta-8, the Ninth Circuit has now ruled that it is federally legal.”
#cannabisindustry – “On the surface, the fundamentals of the cannabis industry are relatively straightforward, which is one reason it appeals to both operators and investors. For example, participants at every stage of the cannabis business cycle – growing and harvesting, processing and packaging, shipping and distribution, and ultimately marketing and retailing – can readily apply well-established practices from their counterparts in more conventional product lines. The major exception to this rule, of course, is the area of regulatory compliance, which is still shifting and likely will continue to do so for the foreseeable future. Outside of this obvious and significant exception, however, most other aspects of the industry are relatively predictable and manageable.”
Law Office of Dale Schafer 