Following important cannabis news articles every day can be a real burn-out, we know. That’s why the Emerald rolls up a chronicle of the headiest news hits, and passes them to you at the end of each week. We Bring You: The Dime.
Al Harrington’s Viola is First Black-Owned Multinational Cannabis Brand to Launch in Canada
On Tuesday, March 23rd, former NBA player Al Harrington announced that his cannabis products will be hitting Canada. That thanks to a partnership with Avannica, a cannabinoid-focused biopharmaceutical company. It will license the brand for a royalty fee to make medical and recreational products in Canada, Forbes reports. CEO of Avannica, Aras Azadian, told the publication that partnering with a brand that emphasizes social equity like Viola, was a no-brainer. In the interview, Azadian also said that the launch of Viola in Toronto, “lay[s] the foundation for Viola’s mission of representation and reform in the Canadian cannabis space.”
Social Equity Bill Signed by Colorado Governor as Lawmakers Vote to Increase Possession Limit
On Sunday, March 21, Colorado Gov. Jared Polis, a democrat, announced bill SB21-111. The bill increases the legal possession limit from one to two ounces. Polls also signed legislation creating a social equity fund to support minority-owned businesses in the cannabis industry. The fund sets aside $4 million from cannabis tax revenue for licenses, job training, etc. according to Marijuana Business Daily. The publication also said Colorado’s Office of Economic Development will conduct annual reports on how these funds are spent.
White House Backtracks on Cannabis, Fires Five Staffers for Using Plant
On Wednesday, March 19th, White House press secretary, Jen Psaki confirmed that the Biden administration fired five staffers for cannabis use, AP reported. Moreover, the news comes the same week that democrat and republican house reps re-introduced the Secure and Fair Enforcement (SAFE) Banking Act. But, President Biden previously said he thought it would be a mistake to legalize. He has since acknowledged the need for a plan with a “commonsense” approach to cannabis. However, firing staffers for using the plant has many questioning whether he ever intended to follow through.
New York is Ready to Legalize Adult-use Cannabis
After several attempts, state officials are finally ready to legalize recreational cannabis in New York, reported Bloomberg News. An agreement was reached between Gov. Andrew Cuomo and legislators, consequently paving the way for a multi-billion dollar state market. It creates an Office of Cannabis Management, and includes a 13% tax on retail sales, wrote CNN. It also eventually allows for home cultivation.