The Global Alliance for Cannabis Commerce (GACC) provides policymakers and legislators with the guidance necessary to take the nascent cannabis industry from the gray market into a global provider of medical and adult-use cannabis products.
Recently, the Company announced the launch of a nationwide, voluntary industry certification standard for safety and purity in cannabis product testing. The aim of this program is to provide licensed sellers and consumer confidence that the legal products are safe and they meet the purity standards. By the end of 2020, this program will be available to all state-licensed cannabis operations.
The Executive Director at GACC, Randal John Meyer says that with the current laws it is impossible to make sure that there are uniform standards for purity. Furthermore, GACC President Rezwan Khan added, ”GACC wants to establish a means by which consumers can have confidence in the products they buy and to provide the industry the tools to give this assurance.”
GACC and the member of the companies believe in establishing standards for safety and purity, and in creating a serious and effective testing program. Nominations for membership on the Standards Committee (terms are two years) will be open to the public beginning on Thursday, December 5, 2019, and closing on January 30, 2020.
The Board of GACC will determine the initial composition. Future members will include public nominations and will be determined by the GACCAST Standards Committee and reviewed by the GACC Board of Directors. It is expected that the GACCAST Standards Committee will take approximately nine months to establish the initial standards and protocols so that implementation can begin in 2020.
Brands such as Raw Garden, DNA Genetics, Crockett Family Farms, Urbn Leaf, La Familia, and Team Elite Genetics, and all derivative cannabis products from DNA Genetics’ and Crockett Family Farms’ genetic have pledged to support the development of the standards setting protocol and to adopt and implement it as well when it is effective.
To accommodate the entire legal cannabis industry’s access to this program, GACC will be creating a membership class, the Standard Membership, which involves minimal costs for participation, and that will provide access to the GACC Certified™ Program. GACC is also planning to arrange for testing discounts for members who use the GACC network of laboratories. The GACC President Rezwan Khan added, “Our goal is to ensure this program isn’t cost-prohibitive for any cannabis companies of any size.”
Solo sciences will be offering GACC members a substantial discount on anti-counterfeiting, instant product recall solo*CODE™ technology as they have previously partnered with GACC to ensure that medical patients and adult consumers do not unwittingly purchase counterfeit or illicit vape products.
On this account, the Executive Director of GACC added, “The combination of the voluntary GACC Certified™ consumer safety standard, particularly when combined with members’ access to substantially discounted solo*CODE™ anticounterfeiting technology, allows GACC members to provide their consumers with the confidence they need that anywhere in the United States they legally purchase a participating cannabis product, our blue leaf means it’s safe and genuine.”
Investment In Marijuana Industry May Become Easy After Renewing UK Legislation
Investments in the marijuana industry and businesses relating to cannabis have been limited as the UK legislation has limitations. The investment policies for investing money in the national cannabis business and international weed activities differ for every country. The authorities of a country or state determine and formulates laws according to their locality needs, demands, and requirements.
RizeETF Founders Progress in Marijuana Industry
The company Rize Medical Cannabis and Life Sciences Ucits ETF has been doing business regarding marijuana, reports Ft. Since 2016 the company is focusing on potentials of earnings through legal, medical marijuana sales. Rize ETF has also analyzed the possible increase in profits if the investment is permitted in the marijuana industry.
The company RizeETF lists funds in the Stock Exchange of London. Funds are also listed by companies in Deutsche Borse Xetra and Six Swiss Exchange. Rules for the stock investments for the marijuana industry vary. There is a greater chance of many countries legalizing cannabis business activities. TrackInsight elaborates that funds for marijuana increase from $792 million to $4.4 billion.
ALSO READ: Update: Cannabis Stocks Reaching New Heights
According to current legislation regarding the marijuana industry or business and investment, investment in marijuana involving business can occur only if it is legal. The marijuana business has to be legal at the national level within the United Kingdom and outside as well.
Changes in Investment Trends and Marijuana Usage
In the last year, investment trends in the legal marijuana industry and businesses have increased immensely. Those who have been investing in the industry were able to generate huge profits.
Extraction of various chemicals from different parts of the cannabis plant is possible. These various types of chemicals are classified depending upon their properties. In November, it was made clear by the European Court of Justice that cannabidiol is not a narcotic. The UN Commission on Narcotics Drugs also removed marijuana from the list of detrimental drugs.
Changes are occurring on an international level, and chances of increasing progress of the marijuana industry are high as new legislation is under discussion. The passing of a bill suggesting the legalization and decriminalization of marijuana in New York has already occurred. In New York, people are free to use marijuana for medicinal and recreational purposes.
The US Secure and Fair Enforcement Banking Act is yet to pass. When the House of Representatives passes this bill banking industry will provide services to people of the marijuana industry. Hence, cannabis business owners will handle cash easily and get sufficient investors if they require investment.
ETFs Earnings and More
The investment in the marijuana industry is made by cannabis-focused ETFs. There are many alterations in business trends involved; companies are exploring new markets for the sale of their medicinal and recreational cannabis products.
Many companies that were have signed agreements have canceled them as one of the companies begins to invest in recreational cannabis products. Recreational marijuana products are still to get approval from the international market to get maximum profits in this field. However, investing in it will be highly profitable when national legislation regarding allowing cannabis for recreational use will get approval. The ETFs owning the marijuana industry will generate sufficient income as long as their business activities are legal on a national and international level.
Some people have concerns that ETFs that have been investing or have to experience in investing in the marijuana industry are generating maximum capital. According to Morningstar’s Lamont, ETFs shall not invest in retail setups as they will not generate sufficient income. Lamont recommends investing in sectors including the marijuana industry and cannabis-related businesses. But he suggests that cannabis retail investment is risky.
Minnesota Cannabis Legalization Bill All Set For Approval
The cannabis legalization bill has been represented in different states, including Minnesota. The House of Minnesota has been having discussions regarding the subject. After considering every aspect of the bill, the House will soon pass and implement it, reports Kare11.
Cannabis legalization and decriminalization bills in different states aim to enhance the flourishing of the marijuana industry. Other objectives include providing equal opportunity to people of color and minorities to start their businesses. Possession of a certain amount will not lead to imprisonment as possessing marijuana up to a certain amount for individuals above 21 will be legal.
The Efforts of Minnesota Legislature for Passing the Bill
Legislatures have been trying for many years to formulate and pass a bill allowing recreational or adult use of marijuana. On Thursday, the Minnesota House will vote regarding approving the legislation. If the cannabis legalization bill gets approval on Thursday, then people in Minnesota above the age of twenty-one can easily use marijuana for recreational purposes.
DFL leaders to legalize marijuana have been making efforts and presenting bills. But there has been a delay in passing these bills due to the opposition of Republicans. According to Rep. Winkler, the opposition does not want to vote and is not interested in passing the cannabis legalization bill in any way. Winkler further adds that opposition is the main reason for delaying legalization and decriminalization of cannabis.
According to state DFL leaders, every detail about the cannabis legalization bill has been discussed. The topic of discussion includes the possible outcome of passing the bill and the benefits it will generate for Minnesota. Leaders are highly hopeful that the bill will get approval during a House meeting scheduled for Thursday at 4:30 p.m.
Why Republicans Oppose Cannabis Legalization Bill in Minnesota
Republicans highlight that they intend to manage the budget without increasing taxation. Paul Gazelka is the Republican Senate Majority Leader. According to Paul, improving the economy by safely reopening schools and business activities is better than legalizing cannabis for people.
Besides, Republicans have doubts and concerns regarding the side effects of the recreational use of marijuana. Republicans elaborate their perspective by saying that adverse effects to recreational use of cannabis have appeared in some areas. Thus, according to them, it is better to learn more before passing the cannabis legalization bill in Minnesota.
But Rep. Winkler disagrees with the Republican point of view. According to Paal Carter, the tobacco and alcohol industries are working effectively within regulations, and the cannabis industry will work likewise by following cannabis legalization and decriminalization bills.
Winkler clarifies that the formulation of the cannabis legalization bill represented in the House took over two years. After completing research, talking to law enforcement, and considering public health officials’ opinions and concerns, the bill formulation occurs. Thus, there is nothing to worry about, and the bill is all set to pass.
Possible Changes that Can Occur After Approval of Cannabis Legalization Bill
The passing of this bill will enable the legal business and sales of cannabis products. The cannabis legalization bill will result in anyone above the age of 21 purchasing cannabis for recreational purposes from an authorized marijuana retailer. Record-keeping regarding cannabis users and the demand or sales of cannabis products will be easy.
After passing and putting the marijuana legalization bill into action, Minnesota will be able to earn large tax revenues. Other states that legalized marijuana last year were able to obtain huge tax revenue. According to the Tax Foundation, Colorado and Washington successfully earned more than $300 million through tax revenue from legal cannabis activities.
Twelve of the House committees have approved of marijuana legalization, and the final decision will occur on Thursday after the vote.
Marijuana Cultivation in Colombia by Flora Growth Becomes Public
Marijuana cultivation within any state has to be per the cannabis laws of that state. In Colombia, some cannabis cultivators can grow cannabis outside within a certain area.
There are chances of the introduction of new cannabis reforms at the federal level. Investors are making their moves while observing the situation closely as their profit or loss depends upon new regulations. Marijuana cultivation usually takes place in indoor greenhouses. In Canada, mostly cannabis companies cultivate marijuana through the controlled environment in greenhouses.
Some cannabis companies have their set up in Canada and different states of the United States. Production units can be found in Canada and the US, and the types of methods used for cannabis cultivation can vary.
Marijuana Cultivation Methods and Cultivation Preferences
Cannabis cultivation can occur inside greenhouses and outside in an open environment if temperature and other growth factors are appropriate for its growth. Moreover, marijuana cultivation in the outside or open fields is cost-effective and requires traditional methods for this process of cultivation.
Indoor greenhouse cultivation of cannabis occurs in a controlled environment, and it yields the best marijuana product qualitatively and quantitatively. Latest technologies are used in this method of cultivation. The cost for marijuana cultivation using new technologies is much greater than the cost-spends at its growth using traditional methods.
Some growth tricks used to increase the yield of cannabis include topping, super cropping, flushing, low-stress training, and monster chopping. Other cutting methods can increase the growth of marijuana.
Flora Growth is a cannabis company in Colombia, USA, and has headquarters in Toronto, Canada. The company cultivates marijuana for producing its medicinal products via traditional methods.
In Colombia, cannabis companies do not quickly get a license to register and grow marijuana within companies’ premises. According to CEO Luis Merchan, Flora Growth has the approval of the Colombian government for legal marijuana cultivation, and cultivating a gram of marijuana dry flowers costs only 6 cents. The cost of indoor cultivation of cannabis in North America is about $1.25.
Despite being cost-effective, companies are not racing to get Colombian government approval as these companies prefer cultivating marijuana closer to home.
Alterations in Flora Growth Shares
Investors are not interested in investing in Flora Growth, and company shares continue to fall up to four percent, reported CNN. Traditional marijuana cultivation costs remarkably low, and Flora Growth can generate high-quality cannabis-based foods. Flora Growth also formulates beauty products using cannabis.
The increase in share prices is slow, and the company is still small as compared to other companies involved in the cannabis business on an international level. Flora Growth has to make many efforts to improve its share price and grow to become a bigger cannabis company like Altria, Tilray, and Canopy.
Flora Growth has made a public offering to make mergers or sign contracts with other companies and investors. The CEO is confident that Flora Growth will successfully increase its share prices. The company can earn sufficient earnings by selling good quality products produced at low cost as it uses traditional marijuana cultivation methods.
The company has a partnership with Miss Universe of 2014, Paulina Vega. As a result of this partnership, the launch of Flora Growth cannabis-infused topical products has become easy and effective in increasing stock prices. The skincare cannabis product formulation occurs by extracting CBD and other non-psychoactive phytochemicals from the cannabis plant. The extraction of components occurs by utilizing plants grown through traditional marijuana cultivation methods.
According to Merchan, Flora Growth has remarkable cultivation facilities, infrastructure, marketing team, cooperative working team, and efficient sales team across the globe.
Changes in reforms to marijuana cultivation, sales, possession, and other marijuana activities will increase competition, and Flora Growth has the potential to flourish in a highly competing environment.
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