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Colorado Marijuana Sales Continued Hot Streak in August

Colorado marijuana sales continued their hot streak in August, according to the state Department of Revenue, reaching the highest monthly total ever.

Medical and recreational dispensaries accounted for over $ 173.2 million in sales in August, DOR data shows. That number is easily the highest for monthly sales since recreational pot stores opened in January 2014, passing July 2019’s previous high mark (approximately $ 166.3 million) by about 4 percent. This is the third straight month that dispensary sales have broken Colorado’s monthly record.

Recreational sales on their own also set another record, hitting nearly $ 141.87 million in August. Medical sales, while still hovering in the $ 30 million range, saw a slight bump, increasing just under $ 1 million from the previous month to hit $ 31.3 million.

August is one of three months in 2019 to have five Fridays and five Saturdays on the calendar, and weekends are extremely important to dispensary sales, according to marijuana-industry sales trackers. With cooler weather and fewer weekend days in September, don’t be surprised if the next monthly sales figure drops.

Through the first eight months of 2019, Colorado has already seen over $ 1.15 billion in dispensary sales, and it’s on a clear path to breaking last year’s overall sales of $ 1.55 billion.

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Colorado Marijuana Sales Continued Hot Streak in August (2)EXPAND

Colorado Department of Revenue


Toke of the Town

Marijuana Stocks Get Absolutely Crushed

While I’m not quite the savviest of investors, I do have a keen eye for stocks in emerging markets, and for many years, I’ve considered “pot stocks” to be an emerging market as legalization grows across the USA and Canada.  With marijuana becoming more mainstream, there are no shortage of stocks that allow the average armchair investor to get some skin in this lucrative game.

However, yesterday provided a massive speed bump to all of us who do indeed have skin in the game.  I’ve surfed many investment sites and financial portals, and have a lot of stuff to say about what happened.

Note:  I don’t offer financial advice.  Invest at your own risk.

Again, I read a lot about this, as I have a few companies I’m invested in.  This report on Market Watch was a good read.

This sort of gut punch that happened yesterday was explained in great detail, and according to Market Watch’s article, the average investor has lost 75% of it’s value over time in the marijuana space.

A big catalyst for this was an announcement by marijuana company Hexo, which goes by HEXO on the ticker.  Net revenue for the fourth quarter will be about $ 14.5 – $ 16.5 million, and net revenues will be between $ 46.5 and $ 48.5 million for the year.  These are both below expectations.

  • HEXO alone fell over 20% yesterday.

Other news that has not been so helpful is that MedMen decided NOT to purchase Pharmacann, which would have been a $ 600 million deal.

  • The vaping crisis is NOT helping the cause either.   Consumers are jumping ship on buying vape pens and devices that were otherwise strong sellers.

The article continues to go on and suggest that you pick points when the selling of marijuana stocks is at a high, and buy stocks that have concepts that will work long term.  Trends, (which could be vaping related) are not a reason to buy a stock.  If there are spikes off these lows, it’s best to sell.  It’s going to be a rocky road coming up, which is entirely my take and not related to the article’s articulation of the sell off yesterday.

Strap up, it’s going to be wild for anyone who has money in this space.

Shane Dwyer
Author: Shane Dwyer
Shane Dwyer is a cannabis advocate who isn’t afraid to tell the world about it! You can find his views, rants, and tips published regularly at The 420 Times.

Marijuana & Cannabis News – The 420 Times

6 Ways How Legal Marijuana Has Affected Nevada

To say that there has been a lot of controversies as regards the legalization of marijuana in many states within the US is an understatement. 

That is not to say that the debate is no longer in play, especially for a sate like Nevada with so many dispensaries in las vegas.

As if the city that is already famed for it’s extravagant casinos and luxurious hotels that are styled with a theme of class and unapologetic splendour, doesn’t have enough on her plate to deal with.

But what are all these rouses really about? There is no straight answer to that, but we do know is that hard facts are leaning to more advantages for the government and the people of Nevada. And here are the reasons why……!

Lesser Consumption of Cannabis by Kids and Adolescents

The use of psychoactive drugs has been a tradition that has been practised since the earliest recorded history, both for medicinal and recreational purposes and it isn’t necessarily a bad thing. 

But when it comes to kids and teenagers using any type of psychoactive substance, it can be a danger, as their brains are not fully developed and as a result, might suffer detrimental impacts arising from consistent use.

That is where the legalization of cannabis plays a huge role. How? Well just let’s take a look at the facts from just one county in Nevada—Washoe county.

In the years 2015 and 2016, about 514 students were outrightly suspended or expelled from school (mind you, these were high-school kids). 

Coming further up to 2016 through 2017 (when marijuana was legalized in Nevada), 397 students within the same county were also either suspended or kicked out of school for the illegal possession of cannabis.

From those statistics above we can see a decline in the number of students that had issues because of cannabis.

Sales Prospects

Going by the financial estimate of sales as regards the retail cannabis market in Nevada in the year 2017, in which over one hundred million dollars was estimated to be made, in sales alone.

But surprisingly, the actual data of sales attained in the year 2017 in the state of Nevada was in the range of two to two hundred and fifty million dollars.  

So judging by the actual sales figure in 2017, it was estimated that sales are going to reach a record high of one billion dollars by 2025.

We all know the benefit of that much sales and what it is going to do for the state’s Gross Domestic Product earnings and her economy.

Tourist Attraction

Like we said earlier, Nevada already has a lot of side attractions (such as the las vegas strip, museums, easy marriages,—-just to name a few—-) which makes her a huge tourist attraction.

But with all these already existing tourist attractions in place, and with the introduction of cannabis as a legal drug and with so many marijuana dispensaries, the number of people trooping in there on a daily basis has tripled, thereby creating not only employment for citizens on Nevada but also a substantial income for them.

Tax Revenue

It is only natural that the government should tax the cannabis industry like every other industry. But perhaps the most shocking thing about the cannabis industry in Nevada is that it exceeded the expected tax margin by 40% within the first year it was legalized.

The tax return within the first year was seventy million dollars. And then In the early months of 2018, the tax returns exceed the whole revenue generated for tax in the year 2017. That is just an indication of the untapped potential embedded in the production, distribution, and sales of marijuana.

Community Support

With the amount of income generated within the cannabis industry and judging by how lucrative it has been. It has not only made investors and the state rich but also has put both government and large corporations involved in the marijuana business in a generous disposition.

Nye county allocated roughly about two million dollars from the cannabis industry revenue to handicapped communities.

While Clark County (which is where Las Vegas is situated), on the other hand, voted in favour of allocating one million, eight hundred thousand dollars towards combatting homelessness and treating those with critical medical conditions.

As if that is not enough, Clark county also went ahead to make arrangements for seventy-six new beds at the Shannon West Homeless Youth Centre in Southern Nevada, alongside another sixty new beds as part of a program called rapid rehousing—which is meant for persons with very critical health challenges that have just been discharged from the hospital.

Lastly – Protection of Job Applicant

It is a known fact that many organizations and companies do carry out some form of medical tests (either via blood, urine, hair, saliva) in order to ascertain the presence of any narcotics as part of their employment process.

But with the legalization of cannabis, accompanying laws have also been passed against denying any job applicant based on the fact that some traces of marijuana were found in their system.

Prior to the legalization of cannabis, workers were rejected solely for the fact that traces of marijuana were found in their system. But the reserve is the case now, not only are people more eligible to work but also there are some laws protecting an individual in the workplace with exceptions to firefighters and people operating moving vehicles or machines, or people in a role that might constitute a risk to other people’s safety.

Shane Dwyer
Author: Shane Dwyer
Shane Dwyer is a cannabis advocate who isn’t afraid to tell the world about it! You can find his views, rants, and tips published regularly at The 420 Times.

Marijuana & Cannabis News – The 420 Times

Ask a Stoner: Do Humans (and Bees) Get High From Marijuana Honey?

Dear Stoner: Can bees pollinate marijuana? Would it get them high if they did?
Weed Keeper

Dear Weed Keeper: According to the beesearch we’ve read, insects don’t have endocannabinoid systems — the receptors we have in our bodies that react to CBD, THC and other cannabinoids from the plant. Without those receptors, bees don’t get stoned from pollinating weed (unfortunately for them, because bees could sure use a little stress relief right now), but that doesn’t stop them from doing it.

Like orange blossom, clove and other flowers that beekeepers use for persuading bees to make honey, the cannabis plant can also be a main source of nectar or pollen for bees, though further beesearch shows that they view the plant as more of a last resort. Still, there are companies popping up with hemp and marijuana honey, claiming to be made from bee nectar collected off cannabis plants. While these CBD- and THC-infused honeys usually have cannabinoids added to the honey before they’re packaged and sold to consumers, legit beekeepers say the straight-from-the-hive stuff is still very much infused. You can find THC honey in Colorado dispensaries and CBD honey in health food stores.

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Send questions to marijuana@westword.com.


Toke of the Town

Shooting at Rancher’s Son Leads to Extensive Marijuana Bust

A sheriff’s department in southern Colorado is putting illegal marijuana growers on notice. In an announcement issued September 16, the Las Animas County Sheriff’s Office says that it had found and eradicated over forty illicit pot cultivations over the past several months, and warns that even more raids will follow.

According to LACSO, local sheriff’s deputies and members of several other law enforcement agencies collaboratively investigated and eradicated over forty growing sites in Las Animas County alone in the spring and summer; the street value of the destroyed marijuana is estimated at around $ 5.76 million.

The initial investigation started after a Colorado rancher told the Otero County Sheriff’s Office that his thirteen-year-old son was shot at while rounding up cattle grazing on property that his family was leasing. According to the LACSO announcement, the rancher believed his son had come across an illegal marijuana grow, and the Colorado Bureau of Investigation‘s Black Market Marijuana Team began investigating the area shortly after.

“Two sites were located that investigators believed were used to cultivate illegal marijuana in the eastern part of Las Animas County, in the Las Animas Ranch’s Subdivision,” the report reads, adding that 486 marijuana plants and six firearms were seized. Four suspects were arrested in connection with the two grows: Ronnie Thursby, Deven Thursby, Denis Street and Christopher Huxtable.

According to local sheriffs, over forty grows have been identified in Las Animas County this year.EXPAND

According to local sheriffs, over forty grows have been identified in Las Animas County this year.

Courtesy of the Las Animas County Sheriff’s Office

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That operation is just the tip of the iceberg, according to the LACSO, which says that 5,000 to 15,000 additional plants worth an estimated $ 5 million were found at more grow sites in the area. However, the LACSO report also notes that officials halted the raids after discovering that a toxic pesticide, Carbofuron, had been sprayed on the plants. “Officials are currently working with environmental specialists to safely remove and eradicate these grow sites and remaining chemicals,” the report reads.

Law enforcement officials also located and destroyed around 120 marijuana plants from a separate illegal grow site in the Fishers Peak Ranches subdivision of Las Animas County during the summer, and are “currently working to investigate and eradicate” a handful of other grows, according to LACSO.

The LACSO and Colorado Bureau of Investigation called upon over a half-dozen more law enforcement agencies to aid in the investigation and raids, including the OCSO, Bent County Sheriff’s Office, Baca County Sheriff’s Office, Huerfano County Sheriff’s Office, Colorado Parks and Wildlife, Pueblo County Sheriff’s Office SWAT and Pueblo Police Department SWAT. 


Toke of the Town

Colorado Reviews New Social Equity Marijuana Business Licenses

New marijuana business licenses reserved for low-income demographics are set to launch in Colorado in 2020, but questions remain about who should receive these licenses and how they should be regulated.

Created by Senate Bill 224, a 2019 law that overhauls the state’s medical and recreational marijuana regulations, the new licenses are intended to add more diversity to Colorado’s cannabis space while providing opportunity to entrepreneurs who don’t have traditional training or funding outlets. Also known as micro licenses, the new permits would require the new businesses to use the facilities of established pot companies as they research and create their own cannabis products.

Colorado cannabis regulators and industry members began addressing the upcoming accelerator licenses during a state Marijuana Enforcement Division stakeholder meeting Friday, September 13. But instead of the usual roundtable discussion, the group of cannabis organization leaders, business owners and regulators broke into working groups to discuss issues such as how long the agreements should last between the accelerator and endorsing businesses, how the state could incentivize potential endorsers, and what criteria should qualify the new licensees.

“People from around the world look to us as an example on how to do things right,” MED director Jim Burack said during the meeting. “What exactly is this relationship between endorser and accelerator? How do we ensure this business relationship is mutually beneficial?”

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Per the new law, applicants would have to be from or living in low-income areas (identified by the Colorado Office of Economic Development and International Trade) for at least five of the past ten years, but could operate outside of the community once the license is issued. The licenses would allow for cultivation, extraction and infused-product manufacturing opportunities, but not dispensary operations.

The new licenses are intended to help spur minority participation in the industry, but skin color or gender won’t necessarily define who receives a license, insists Shawn Coleman, a cannabis lobbyist who helped write the language creating the new licenses. Victims of the War on Drugs will, however, receive serious consideration.

“If you’re white and you grew up in a trailer and your dad went to jail for ten years for selling meth, I can see why you’d think you’d be fit for this,” he said. “This isn’t exclusive to any certain group.”

MED deputy director Dominique Mendiola leads one of four discussion groups during a stakeholder meeting September 13.

MED deputy director Dominique Mendiola leads one of four discussion groups during a stakeholder meeting September 13.

Thomas Mitchell

Deciding who qualifies for an accelerator permit is just one of many questions the MED has to figure out before 2020. The relationship between the new licensee and endorsing business — which includes privacy and liability agreements, potential equity shares and royalties, equipment use and more — is still up in the air.

Connor Lux, founder of cannabis event and co-working space Cultivated Synergy, said collaboration during the early years of legal cannabis led to stolen ideas, techniques and technology in an industry in which securing copyrights or patents is difficult. “Sharing [intellectual property] caused huge issues for some people right off the bat, from them not protecting their IP,” he explained.

It’s not just the micro-licensee who’d be at risk, according to several cannabis business owners who are considering becoming hosts to new potrenepeurs. “Let’s say there’s mold or yeast left over [in shared equipment] that affects an accelerator’s product. How do we handle that?” asked Allison Robinette, an assistant state attorney general who specializes in Colorado revenue and utilities.

Kayvan Khalatbari, a boardmember of the Minority Cannabis Business Association and co-founder of cannabis consulting firm Denver Relief, suggested that shared facilities adopt similar rules to commissary kitchens, where multiple food producers use the same facility at different times.

The new law already requires MED approval of any new micro licenses, but Khalatbari suggested the MED monitor the micro license relationships.

“If I’m an endorsement holder, I don’t want to get sued because someone used my equipment incorrectly…. Someone should be available to manage these relationships,” he said, adding that Colorado’s seed-to-sale tracking technology mandated by the MED would help show missteps.

Perhaps the most important challenge to the new license’s success rate is getting established cannabis companies to participate. Suggestions to entice them included reducing licensing fees, launching certain excise-tax credits and giving priority designation for licensing transfers and updates. However, the larger potential endorsers who are already set financially would likely want the accolades the most, according to Andrew Livingston, director of economics and research for cannabis law firm Vicente Sederberg.

“For some of the bigger businesses, [decreased] license fees won’t be as big of an impact,” he said, explaining that some sort of good-actor seal of approval could help participants further connect with their communities as well as their chances of earning licenses in other states with legal pot industries.

The final rulemaking hearings will take place through September 20. According to the bill’s drafters and several stakeholders at the meeting, further legislation to update the license program and address the finer details is likely.


Toke of the Town

Ask a Stoner: Which Marijuana Concentrate Is Strongest?

Dear Stoner: What’s the strongest kind of cannabis oil I can buy? How much does it cost?
Marcie

Dear Marcie: The list of cannabis concentrates available today is much longer than it was before commercialization and new extraction techniques took off. Now you can find concentrates that are considerably stronger than the kief or bubble hash you likely grew up with, or even the wax and shatter that invaded dispensaries and stoner culture five years ago.

See all that goopy yellow stuff? Terps, baby. Terps.

See all that goopy yellow stuff? Terps, baby. Terps.

Jake Holschuh

Cannabis distillate, isolate and crystalline are all forms of concentrate than can reach upwards of 90 percent CBD or THC, depending on which cannabinoid you’re looking for. All of them are about as close to pure THC or CBD as you can get, with varying levels of terpenes left in or added for flavor. The cost of THC distillate and crystalline typically runs from $ 60 to $ 90 per gram based on the quality and amount of terpenes added (pure distillate with no terpenes is cheaper), while hemp-derived CBD isolate can cost less than $ 20 per gram at head shops.

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Send questions to marijuana@westword.com.


Toke of the Town

Marijuana Use Among College Students Rising Fast

FRIDAY, Sept. 6, 2019 — Marijuana use by U.S. college students in 2018 was the highest in 35 years, researchers report.

Their survey of about 1,400 respondents, ages 19 to 22, found that about 43% of full-time college students said they used some form of marijuana at least once in the past year, up from 38% in 2017, and previous month use rose to 25% from 21%, the Associated Press reported Thursday.

The 2018 rates are the highest found in the annual University of Michigan survey since 1983.

About 6% of college students said they used marijuana 20 or more times in the past month, compared with 11% of respondents the same age who weren’t in college, the AP reported.

“It’s the frequent use we’re most worried about” because it’s associated with poor school performance and can harm mental health, researcher John Schulenberg said.

In the United States, marijuana use is greater among college-age adults than any other age group, the AP reported.

WebMD News from HealthDay

Copyright © 2013-2018 HealthDay. All rights reserved.

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WebMD Health

Surgeon General: Marijuana Bad for Developing Brain

August 29, 2019 — Marijuana use is risky for young people and pregnant women, a U.S. Surgeon General health advisory warns.

The latest research shows that marijuana is particularly harmful to developing brains and can be passed along to infants in the womb or through breast milk, U.S. Surgeon General Jerome Adams said Thursday, ABC News reported.

Adams said he was deeply concerned about what he called the “rapid normalization” of marijuana and the mistaken belief among young people that because the drug is now legal in some states, it must be safe.

“Not enough people known that today’s marijuana is far more potent than in days past,” Adams said, ABC News reported. “This ain’t your mother’s marijuana,” he added.

The American Academy of Pediatrics has long advised young people not to use marijuana and has said that no amount of marijuana has been proven safe to use while pregnant or breast feeding.

Adams and Health Human Services Secretary Alex Azar said they support additional research on the effects of marijuana, and Azar said the federal government will launch a public awareness campaign, ABC News reported.

Last year, the surgeon general issued a warning about e-cigarette use by young people, called it “unsafe” in any form.

WebMD News from HealthDay

Copyright © 2013-2018 HealthDay. All rights reserved.

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WebMD Health

Best Marketing Ideas for Online Marijuana Dispensaries

More and more states are lifting bans on the production and sale of marijuana, for both medical and recreational reasons. If you have decided to turn your passion for weed into a business, you may not know exactly how to promote your business properly. After all, many people have the same idea as you do. Why would people go to your store over another? Here are the best marketing ideas for online marijuana dispensaries.

1. Have the best product and exclusive products

Many people who enjoy marijuana want the finest product available. There are a lot of really good options out there, so you need to have product that exceeds expectations. Be sure to highlight this product in marketing materials and inside your store. When you do, be sure you let people know why it’s the best.

Next, you need to have something that no one else has. Many times, you can strike a deal with a manufacturer to sell their item exclusively in your store. When you start to grow, you may even try to strike an exclusive deal with a strain promoted by a famous musician or actor.

Marketing starts at the very beginning. The first thing people will see is your name and logo. Make sure these items gran the attention of the potential customer right away. You need to be clear about your product, and you need to be somewhat unique. You may need to go to the professionals to develop a logo that isn’t the same logo people will drive past every day.

3. Utilize social media

This business gives you a great opportunity to utilize social media marketing. Your clientele uses social media heavily, and you have a product that allows you to develop entertaining social media content that might even go viral. Widen your horizons and sign up for a business account on the most popular social media sites. There are plenty of digital assistants that can help you manage all of your social media accounts in one place. Showcase your best products with photos and videos. You can also even post funny memes.

However, it’s important to maintain a certain level of professionalism. Don’t post anything that can get you the wrong type of attention from the wrong type of people. That being said, it’s okay to have a laugh. Be sure to invite people into your store with every post!

4. Have your customers help

People trust friend and family recommendations. Use this to your advantage by asking your most loyal local customers to help support your business by promoting your brand on social media. This will reach people who don’t follow your business yet. People also tend to go to places they see their friends enjoy. You may even consider trading promotion for some product if the person is a significant social media influencer.

5. Loyalty programs

People like to save money. Give people the chance to save money on a product they buy regularly as long as they buy through you. Many stores, such as gas stations and clothing stores, do the same thing, so why can’t a marijuana dispensary do it? Give customers the opportunity to get discounts after they buy a certain amount. The people are sure to come back to take advantage of that offer! You can put a deadline on the offer to ensure that they come back soon.

6. Promote yourself everywhere

Some people only think about work at the office, or dispensary. Don’t take your hat off when you leave for the day. Literally. Get merchandise with your company logo and name on it. Continue to wear this merchandise while you go about your other daily tasks. You can get hats, t-shirts, pens, mugs, and many other items. Always carry business cards with your store’s contact to tell people how to take advantage of your services. Make sure you portray yourself and your business in a positive light while you are wearing your merchandise.

Some people think that marijuana sells itself. However, there are more options than ever today. For that reason, you need to make yourself stand out and reach out to the people. Use these tips, and you’ll watch your business grow just like your plants.

Shane Dwyer
Author: Shane Dwyer
Shane Dwyer is a cannabis advocate who isn’t afraid to tell the world about it! You can find his views, rants, and tips published regularly at The 420 Times.

Marijuana & Cannabis News – The 420 Times