Wisconsin Discloses Vape FDA Test and Governor Gavin Newsom Signs New Cannabis Bill

By: Infinity Broadcast Network
 
RIVERSIDE, Calif. - Nov. 2, 2019 - PRLog -- A federal court dismisses a lawsuit filed by the Scottsdale Research Institute against the DEA for failing to approve applications for research cannabis cultivation. In response to an earlier order by the court, the agency has committed to make progress on the 33 pending applications, on which they must take action by late January. Although the institute has indicated approval of the result, they may return to court if delays persist.

Governor Gavin Newsom signs a bill allowing cannabis companies that file their taxes as sole proprietors or partnerships to claim state deductions starting next year. However, experts estimate that only about 10 percent of California marijuana businesses will benefit, since most are set up as limited liability companies that won't qualify. What do you think? Is the move simply a symbolic gesture or a meaningful step forward for the state's industry? Let us know online at Cannabis Broadcast Station.

In Colorado, an early winter snowstorm freezes about half the cannabis crop of the country's largest marijuana cultivator, Los Suenos Farms, costing them millions of dollars. The loss is expected to significantly reduce the state's supply to retailers and processors, but could, conversely, benefit extractors gaining access to additional salvaged biomass that won't be sold as cannabis flower.

In Wisconsin, state officials become the first to disclose FDA test results of vape products in the country following nationwide health issues, revealing more than half of the products under investigation contained THC. Testing also determined that two thirds of those were cut with Vitamin E, a popular additive in illicit vape cartridges, although with tobacco also in the mix, the harmful culprit is still unclear.

In finance, Chicago-based cannabis company Revolution Global secures 28.75 million dollars in financing from real estate investment firm Freehold Properties. Revolution intends to double the capacity at its flagship cultivation site in Delvan, Illinois in anticipation of the state's recreational sales launch at the start of next year.

In Canada, Ontario cannabis producer Green Organic Dutchman announces an 85 percent scale back of its 2020 production capacity, from over 147,000 down to 20,000 kilograms. Industry analysts predict other Canadian cultivators may face similar problems, such as a lack of sufficient funding and lower than expected revenue due to a sluggish retail location rollout across the country. The company stated they may still easily ramp up production if the market demands.

Overseas, Canopy Growth's medical division, Spectrum Therapeutics, lands a contract to become the exclusive supplier of medical cannabis to Luxembourg through the end of 2021. The country's newly established MMJ market, which was approved just last year, has already begun receiving shipments from Spectrum's licensed facility in Denmark.

Written by:  Jacqui Verdura and Micah Tatum

https://youtu.be/MRhRqS42FC0

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