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Tag: SAFER Banking

  • These 5 Woman Are Changing 4/20

    These 5 Woman Are Changing 4/20

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    The marijuana industry is still driven by men – but these 5 woman are changing 4/20 and upending the industry by focusing on the future.

    Since it started becoming legal, the marijuana industry has been filled with bros trying to run everything.  Some smart, some shysters – they have had an oversized say in the direction of where legal marijuana is going.  But woman are having a moment, and a huge impact in the millions of newly legal consumers.  Be it in imagine, politics, or products, woman are making game changing changes on how cannabis is mainstreaming.  When 4/20 started in, the landscape was way different, the 5 woman are changing 4/20 today to a bigger, more mainstream celebration.

    RELATED: Can Marijuana Consumers Donate Blood

    Nancy Whitman

    Nancy co-founded Wana Brands in 2010, elevating it from her kitchen to an international cannabis edible powerhouse. With North America’s largest distribution footprint, it is a top international brand available in 17 U.S. states, the U.S. territory of Puerto Rico and nine Canadian provinces and territories, generating close to $300 million in retail sales annually across more than 3,000 dispensaries.

    As a pioneer in the legal cannabis market, she has shown again and again commitment to research and crafting safe, innovative products. She understands the millions of canna-newbies who is looking for something to pair perfectly with the their non-stoner lifestyle.  Under her leadership, Wana was acquired by Canopy Grow, which is owned in part by alcohol behemoth Constellation.

    Nancy’s inclusive vision led to an executive team that is 70% female, a rarity in the industry and reflective of her dedication to diversity. Her unique insights have given Wana an advantage as she understand the average consumer, which makes up the bulk of the market.

    Senator Patty Murray

    Sen. Patty Murray
    Photo by Anna Moneymaker/Getty Images

    In the old boys club of Congress, Senator Patty Murray (D-WA) has risen in the ranks thanks to a willingness to focus on a solving problems, thinking of the average citizen and wielding her knowledge and strength.  As the third most powerful person in the Senate, she is working with Senate Leader Schumer (D-NY) and a bipartisian group to make significant inroads into federal marijuana policy. Long a champion of veterans, this will benefits those who have served who suffer from PSTD.

    Shawna Seldon McGregor

    Shawna

    In a sometimes rough and tumble industry with some wacky players, it is good to have a public relations firm you can trust. Mirroring the mainstream industry, Maverick PR, has helped the industry move past the old stoner, bro imagine and move into today. Founded by Shawna Seldon McGregor, she has become the consul to industry executives and a media whisper to keep the good players growing. Shawna’s ability to make marijuana messaging mainstream has been a hallmark of her career. Since the inception of adult use in Colorado, she has led effective publicity campaigns for top brands including Wana, Native Roots, Deep Roots Harvest and Botani.  Trusted by leaders, she has been able to understand and guide companies into changes like California sober.  Her understand of consumers and media has been invaluable to leaders.

    Debra Borchardt

    Debra Borchardt

    Debra Brochardt was a respected media voice on Wall Street when she jumped in the marijuana world founding Green Market Report. Premiering at time when the industry was still shady and, as one executive said, people would come to meetings and put a gun down, she brought reason and truth to the table. Known for her straight reporting, she has taken on corruption, crazy leaders, and complicated financial deals. Venerable media company, Crains, recognizing the growth of market, acquired the asset and has only helped Brochardt reach her vision. Highlighting legit good companies, Green Market Report has become a must read for investors, politicians, and executives.

    RELATED: California or New York, Which Has The Biggest Marijuana Mess

    Pamela Hart

    Pamela Hart

    With a talent for organization and building infrastructures, Hart jumped into the industry in 2015. Seeing an opportunity to be build infrastructures and platforms she brought her management skills to a variety of companies. As COO of Keneh Ventures She has helped review, fund and partial advisement for some of the investments including GoFire and AI startup WeDream World. Understanding the mainstream appeal, she has been a champion of Cannabition, a state of the art cannabis immersive experience opening next to Planet 13 in Las Vegas. She now has added Managing partner and operations manager of the exhibition alongside her other duties. She shared over the last 8 years the priorities of entrepreneurs and investors have matured as the market for cannabis has grown and become accepted by the general population. 

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    Amy Hansen

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  • More Marijuana Rescheduling Hints

    More Marijuana Rescheduling Hints

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    Rescheduling is important to states and the marijuana industry…and people are looking for clues

    States with legal marijuana want the tax revenue.  Cannabis businesses need relief and help to continue and grow. The marijuana industry needs to move to the next level of legitimate industry. And consumers and patients need reliable, safe products which are the same from store to dispensary.  This is the role of the federal government, but for the first two years, the Biden industry dithered.  But the wheels have started turning and now they are more marijuana rescheduling hints.

    RELATED: California or New York, Which Has The Biggest Marijuana Mess

    The biggest hint is the breaking news came today during a short email sent from HHS. “Good afternoon and thank you for your patience,” a Department of Justice attorney said in an email on Thursday. “The agency has advised that it will release the letter and its enclosures in their entirety.”

    The letter and its enclosures mean The Department of Health and Human Services (HHS) has agreed to release documents related to its recommendation to federally reschedule marijuana in its entirety. This seems to be  do to potential litigation over a Freedom of Information Act (FOIA) request regarding the findings.  The release adds pressure if the DEA plans to break precedent by not following HHS’s recommendation.

    SAFER Banking advocate Senate Majority Leader Chuck Schumer shared HHS has recommended marijuana be moved from a Schedule I to a Schedule III controlled substance.

    According to the DEA, Schedule I drugs have no currently accepted medical use in the United States, a lack of accepted safety for use under medical supervision, and a high potential for abuse.  The National Institute of Health disagrees on their website.  And with rescheduling, the Food and Drug Administration (FDA) would become involved, while it is more of an onerous process, it would establish guidelines to make it more acceptable to major mainstream retailers and, more importantly, the medical community.

    Additionally, rescheduling the drug would reduce or potentially eliminate criminal penalties for possession. Marijuana is currently classified as a Schedule I drug, alongside heroin and LSD.

    RELATED: The Most Popular Marijuana Flavors

    The industry agrees with Schumer who made a clear appeal when he shared the “DEA should now follow through on this important step to greatly reduce the harm caused by draconian marijuana laws.”

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    Terry Hacienda

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  • Did Matt Gaetz Put A Knife In The Cannabis Industry

    Did Matt Gaetz Put A Knife In The Cannabis Industry

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    People are consuming more marijuana than ever, but the industry is still suffering significant growing pains.  As the industry expands, bad players are being weeded out but New York and California have truly botched the legal system.  The marijuana industry is primarily filled with small businesses like dispensaries, craft product makers, farmers and more. On the key issues preventing them from moving to profitability is banking and taxes. After a 3 year downturn (despite increased sales), the cannabis industry saw a ray of hpe in the SAFER Banking bill….but then the US House of Representatives devolved into one of the hottest messes in its storied history.  So did Matt Gaetz (R-FL) put a knife in the cannabis industry?

    RELATED: Unlicensed Shops in NYC Are Doing Better Than The Naked Cowboy

    The Biden administration has been extremely slow in delivering on his campaign promise of increased federal legalization and an easier way to do business.  The House passed SAFE Banking 7 times in bipartisan fashion, all failing in the Senate.  This year, the Senate, with key sponsors of Senators Chuck Schumer (D-NY) and Patty Murray (D-WA) wrote the bill SAFER Banking and managed to get it out of committee.

    WIth some bipartisan support, including Senator Tommy Tuberville (R-AL), the bill looked like it will pass the Senate and head to the House before going to the White House with hopes of Biden’s signature.  The industry crossed fingers with hope and cannabis stocks inched upwards.

    Then Representative Matt Gaetz ousted Rep. Kevin McCarthy (R-CA) as speaker and shut down Congress. For the last two weeks, GOP Representatives have been caught up in a vortex of a floor fight which shows little hope of abating soon.  After twice losing, Rep. Jim Jordan (R-OH) announced he is pushing for a third floor vote for speaker.  Until a speaker is elected, House bills remain stalled.

    Senator David Daines (R-MT) is saying the the Senate will hold off on floor action until there’s a sense the House can pass a bill. But if they year ends, everything starts back at the beginning, and adds months of waiting to the beleaguered cannabis industry.

    RELATED: Why Gen Z Is Putting Down Beer And Picking Up Marijuana

    One issue around the lack of a SAFER Banking act is it makes it harder on the regular workers of businesses to get car, house and other traditional loans.  Without SAFER Banking, this is seen as a negative and count against a regular worker who is holding onto a steady job.  Even with a well paying job, banks are more likely to look at through a “no” lens.

    So in a way, Matt Gaetz is also harming the working man and small business owner.

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    Terry Hacienda

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