Latest Cannabis News: July 7, 2023

Latest Cannabis News: July 7, 2023

Maxime Kot
JULY 7TH, 2023

Stay up to date with the latest legalization and cannabis news with the C.B. Advisors. Every week, we will release a snippet of what’s happening with each state in the cannabis industry. Did you miss last week? No worries – click here for last week’s cannabis news.

Medical 

Alabama: A Montgomery judge has postponed a July 13 hearing in lawsuits by two companies over licensing by the Alabama Medical Cannabis Commission. The AMCC and the companies — Alabama Always LLC and Hornet Medicinals LLC — jointly asked for the continuance.

Montgomery County Circuit Judge James Anderson has not rescheduled the hearing but will hold a status conference Thursday at 1:30 p.m. at the Montgomery County Courthouse.

Source: https://www.al.com/news/2023/07/judge-postpones-hearing-on-alabama-medical-cannabis-licenses.html-

 

Recreational

Minnesota: Minnesota’s governor is looking to hire a director to oversee the state’s new marijuana regulatory agency that’s being established under a legalization law he enacted last month.

A job posting went live on Friday for the executive director of the Office of Cannabis Management (OCM)–a position that Gov. Tim Walz (D) will personally appoint. The office itself will officially be created on Saturday under the law—with legal possession and home cultivation for adults set to officially roll out on August 1.

Source: https://www.marijuanamoment.net/minnesota-governor-seeks-director-for-states-new-marijuana-regulatory-agency-to-oversee-legalization-rollout/

 

New York: New York has finally secured an investor to help fully fund the $200 million in startup capital promised to social-equity marijuana entrepreneurs to open “turnkey” dispensaries, Gov. Kathy Hochul has announced.

Chicago Atlantic Admin, a publicly traded, Illinois-based investment firm that’s funded marijuana businesses across the country, has agreed to invest “up to $150 million” in the New York State Cannabis Social Equity Investment fund, Hochul said in a news release issued Friday.

The state itself has agreed to pony up $50 million to help bankroll the fund.

Chicago Atlantic’s commitment “reinforces New York’s commitment to building partnerships that benefit New Yorkers and setting right the wrongs of the past,” Hochul said in a news release issued Friday.

Source: https://mjbizdaily.com/investor-for-200-million-new-york-cannabis-fund-finally-found/

 

 

The Cannabis Business Advisors have more than thirty years of combined industry experience, spanning across the U.S. and around the globe. C.B. Advisors offers a comprehensive suite of services, including application and licensing preparation, operational analysis, merger and acquisition support, policy and procedures, exit strategy guidance, and business development planning.

Contact Info@thecannabisbusinessadvisors.com for more information on how to apply for a cannabis business license.

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