Is Your Weed Buying History Safe from the Feds?

Copyright © 2017 All Rights Reserved
by Erik Muenker D.C. |  Exclusive CBDbusinessBlog.com

Federal Marijuana Crackdown Coming?

Is a federal crackdown on marijuana coming in 2017? After all, the Feds locked up over 3,500 people for marijuana related drug offenses, in 2016 alone. No one knows for sure what the new administration will do.

Should you be worried that your marijuana buying history could end up in the wrong hands?

Just think about all of the potential conflicts:

– You could be denied purchase of a firearm!
– It could jeopardize your health insurance coverage?!
– You could be denied employment!
– You might even be denied citizenship!
– Involved in a child custody proceeding?

Well Oregon legislators aren’t waiting around to find out. Oregon legalized recreational cannabis in July of 2015, and a new Oregon Bill that just passed the legislature (53-5) will prohibit marijuana retailers from keeping information collected from their customers for more than 48 hours.

Perhaps it’s time to start asking some questions.

Continue reading “Is Your Weed Buying History Safe from the Feds?”

Silver Leaf Investment: An upstart marijuana investment company to watch in 2017

Copyright © 2017 All Rights Reserved
by Erik Muenker D.C. |  Exclusive CBDbusinessBlog.com

Marijuana is Growing Fast

The legal cannabis (marijuana) industry is booming. According to Forbes.com, it was worth an estimated $7.2 billion in 2016. With double digit annual growth, adult recreational sales alone are expected to jump from $2.6 billion in 2016 to $11.2 billion by 2020.

In addition to recreational sale, medical marijuana sales are expected to more than double to $13.3 billion by 2020. That’s a combined annual market of over $24 billionanticipated in just the next 3 years.

Does AG Sessions worry you?

Jobs, state’s rights, and taxes. That’s right. Jobs, state’s rights and tax revenue are the cannabis industry’s secret weapons against marijuana detractors in the Trump administration and elsewhere.

According to a survey conducted by Marijuana Business Daily, the marijuana industry already employs over 100,000 people in the U.S. alone.

Along with billions in sales, comes millions in tax revenue. Motley Fool estimated that in 2016, Colorado’s marijuana tax haul likely exceeded $200 million. That’s a lot of green. And it’s only going to continue to grow each year.

Continue reading “Silver Leaf Investment: An upstart marijuana investment company to watch in 2017”

Marijuana News: Feds Locked Up 3,500 for Weed | Cost: $28 Billion

Copyright © 2017 All Rights Reserved
by Erik Muenker D.C. |  Exclusive CBDbusinessBlog.com
3,500 Sentenced to Marijuana Related Offenses in 2016

According to report release by the U.S. Sentencing Commission, over 3,500 people were sentenced to marijuana related federal offenses in 2016 – more than either Crack Cocaine (1,582) or Heroin (2,830). View the entire  breakdown here.

The good news is that these numbers have dropped in half since 2012, and continue to fall year after year.

The vast majority of those sentenced went to prison, with the average prison term of 28 months.

When the statistics for marijuana offenses are broken out by race, it’s clear that Hispanics loose big.

77% of all marijuana offenders sentenced were Hispanic.

12% White

8% Black

The trend is promising, but the numbers are still highly disturbing. How long will we continue to jail people for selling a flower?

$28 Billion: Annual Cost
o
f Federal Prohibition on Marijuana

The Tax Foundation is a leading Washington D.C. -based nonpartisan, non-profit think tank whose mission since 1937 has been to change the world through tax policy.

Continue reading “Marijuana News: Feds Locked Up 3,500 for Weed | Cost: $28 Billion”

Spotlight: Marijuana company Canopy Growth now in S&P/TSX Index

Copyright © 2017 All Rights Reserved
by Erik Muenker D.C. |  Exclusive CBDbusinessBlog.com

 

Canopy_Growth_Corporation_logo.svg

SMITH FALLS, Ontario – Another milestone for the cannabis industry was reached today

Canopy Growth [TSX:WEED], Canada’s largest and arguably most successful marijuana company – has been added to the S&P/TSX Composite Index. The index represents nearly 70% of the total market capitalization on the Toronto Stock Exchange and is considered a key benchmark for the Canadian equity market.

With the addition of Canopy Growth to the index, more and more investors will now be buying and holding weed.

Canopy Growth has a market capitalization of $780.6 million and a year-to-date stock price change of +192%. Canopy Growth is definitely a cannabis company to watch in 2017.


Update – March 27th, 2017
Legal Marijuana in Canada by 2018
Legal Marijuana in Canada by 2018

According to the CBC, PM Tradeau will announce legislation on April 10th – to legalize marijuana for recreational use in Canada by July 1, 2018!

Shares of Canopy Growth Corp. jumped 11% in trading on the news.

Continue reading “Spotlight: Marijuana company Canopy Growth now in S&P/TSX Index”

Celebrating Powerful Women in Weed on International Women’s Day

Copyright © 2017 All Rights Reserved
by Erik Muenker D.C. |  Exclusive CBDbusinessBlog.com

The CBD Business Blog

would like to celebrate

International Women’s Day

by celebrating

Powerful Women In Weed

Women in Weed Lg
Powerful Women in Weed

Is GOP led 115th Congress Shifting Views on Marijuana with new Legislation?

Copyright © 2017 All Rights Reserved
by Erik Muenker D.C. |  Exclusive CBDbusinessBlog.com

Breaking News: Multiple Marijuana Legislative Bills could Signal Shift IN GOP

At least two bills have been introduced by Republican lawmakers in the past 6 weeks, that would end federal marijuana prohibition.

I’m Just a Bill – H.R. 715

On January 27th, 2017 – House Republican Rep. Griffith Morgan from Virginia introduced H.R. 715 to the 115th Congress. Legislation that would reschedule marijuana from a Schedule 1 Controlled Substance, AND exclude cannabidiol (CBD) from the definition of marijuana

Read more by clicking the image below.

HR715 De-schedules CBD

 

I’m Just a Second Marijuana Bill!

On February 27th, 2017 – House Republican Rep. Thomas Garrett of Virginia introduced legislation entitled, Ending Federal Marijuana Prohibition Act of 2017.

Rep. Garrett’s legislation, if it becomes law, would end federal prohibition by removing marijuana from the Controlled Substances Act. This would in effect, leave marijuana legality/policy up to the states.

Rep. Garrett has been a vocal Trump Supporter and the timing of his bill is worth noting. AG Sessions himself suggested during his confirmation hearings – that if congress didn’t like his approach to marijuana law enforcement, they should change the laws accordingly.

Perhaps the Republicans are attempting to do just that?! First with a stick, then with a carrot?

Garrett’s office released a press release to coincide with the legislation’s introduction:

WASHINGTON, D.C. – Today 5th District Congressman Tom Garrett introduced legislation aimed at federally decriminalizing marijuana.

The short title for this legislation is cited as the “Ending Federal Marijuana Prohibition Act of 2017.” If passed, this bill would take marijuana off the federal controlled substances list – joining other industries such as alcohol and tobacco.

Garrett went on to say,

“this step allows states to determine appropriate medicinal use and allows for industrial hemp growth, something that will provide a major economic boost to agricultural development in Southside Virginia. In the coming weeks, I anticipate introducing legislation aimed at growing the hemp industry in Virginia, something that is long overdue.”

Senators on Marijuana in 2017

Take a listen to Senator Schatz as he blasts AG Sessions on the Senate floor, February 8th, 2017 – over his comments disparaging marijuana.

According to the Associated Press (article), Senators from eight states with legal recreational marijuana (Washington, Colorado, Nevada, California, Oregon, Massachusetts, Maine, Alaska), sent a letter to Attorney General Jeff Sessions on March 2nd, 2017 – asking him to uphold the Department of Justice’s existing enforcement policy toward marijuana.

Among those who signed this letter where Senators Elizabeth Warren and Edward Markey.

United States Marijuana Map Twitter
2017 Election  Marijuana Map

Related: Election 2016 – Marijuana Legalization Spreads Across the U.S.

Trump on Marijuana

Republican Presidential Candidate Donald speaks in front of a crowd in Reno, Nevada on October 29th, 2015.

Listen to Trump’s answer, when asked how he would approach medical and recreational marijuana.

Continue reading “Is GOP led 115th Congress Shifting Views on Marijuana with new Legislation?”

Breaking News: House Republican Bill Would Reschedule Marijuana and De-Schedule CBD

 

Copyright © 2017 All Rights Reserved
by Erik Muenker D.C. |  Exclusive CBDbusinessBlog.com

115th Congress 1st SessionHouse Republican Rep. Griffith Morgan from Virginia, has introduced a bill to the 115th Congress that would reschedule marijuana from a Schedule 1 Controlled Substance, AND exclude cannabidiol (CBD) from the definition of marijuana.

Part I – The Big News | Reschedule Marijuana!

Marijuana Bill Becomes Law
Introduced in the House of Representatives on January 27, 2017, H.R. 715 would reschedule marijuana under section 202 of the Controlled Substance Act (21 U.S.C. 812) to a schedule under section 202 other than the dreaded schedule I.

 

Schedule I is reserved for substances that have a high potential for abuse, have no currently accepted medical use, and demonstrate a lack of acceptable safety when used under medical supervision.

No accepted medical use?

Not so fast! Clearly, marijuana does not belong under Schedule I. Marijuana has demonstrated health benefits. CBD oil, from marijuana and hemp, is used by many people to treat joint inflammation and the pain and stiffness associated with arthritis. And CBD is not psychoactive, meaning it won’t get you high.

Science is just now beginning to explore the potential health benefits of cannabis. Recent clinical research suggests applications in the treatment of anxiety and schizophrenia, and even cancer. The THCV and terpenes in marijuana and hemp may even help you maintain healthy blood sugar levels and possibly even help you avoid serious health problems such as diabetes

This bill, if passed, would be truly historic. It would completely alter the landscape for the cannabis industry nationally and perhaps even globally. Although rescheduling alone would likely not immediately end Federal prohibition, it would drive a huge crack in the wall of ignorance surrounding medical and recreational marijuana.

Part II – Equally Great News | CBD Excluded from CSA!

H.R. 715 would also remove cannabidiol (CBD), famous for its efficacy in treating intractable childhood epilepsy (e.g. Dravet Syndrome, Lennox-Gastaut Syndrome), from governance under the Controlled Substance Act!

Learn why cannabidiol (CBD) and how the industry is expecting 700% growth.

An End to Federal Prohibition?

H.R. 715, by itself, would not prevent the FDA from restricting and regulating marijuana, but it would remove the DEA from the conversation.

Passage would also likely permit banks and other financial bodies to engage with state-compliant marijuana companies. This would bring much needed capital and financial security to an industry producing billions of dollars outside of mainstream financial institutions and poised to be crowned the #1 most valuable legal cash crop in the U.S.

Update: House Republicans have introduced a second marijuana Bill that would end Federal prohibition Click for info

2-GOP Bills Feature-new-03





I’m Just a Bill – A Marijuana Bill

Continue reading “Breaking News: House Republican Bill Would Reschedule Marijuana and De-Schedule CBD”

Trump Pick For FDA Could Help Marijuana Industry | But At What Cost?

Copyright © 2017 All Rights Reserved
by Erik Muenker D.C. |  Exclusive CBDbusinessBlog.com
Jim O’Neill Could Bring Disruption and Marijuana to the FDA
Jim O'Neill - FDA-candidate
Jim O’Neill Courtesy Mithri Capital

According to Bloomberg News and TheHill, President Donald Trump is strongly considering Jim O’Neill, an outspoken marijuana supporter and libertarian, to be the next head of the FDA. Jim O’Neill has been a staunch critic of the FDA for years and if appointed to lead the agency, he is likely to usher in dramatic changes that could shake the agency to its core. And maybe, just maybe, that’s not such a bad thing.

Peter Thiel
Peter Thiel – Trump transition team

Jim O’Neill is reportedly a close business associate of key Trump transition team member Peter Thiel – a tech financier worth more than $2 Billion. Theil was named #246 on the Forbes 400 List of Richest People in America in 2016. Theil spokesman Jeremiah Hall was quoted recently in an email reported by Bloomberg Politics, “Jim O’Neill has extensive experience in government and in Silicon Valley. He is a strong candidate for any of several key positions.”

Mr. O’Neill is currently the Managing Director of Mithril Capital Management LLC,

mithril

a global investment firm cofounded by Peter Thiel. Previous to Mithril Capital, Mr. O’Neill spent just under six years working in various roles for the Department of Health and Human Services during the George W. Bush Administration, from 2002 – 2008. O’Neill first served as the Director of the Speech and Editorial Division, then as Associate Deputy Secretary and ultimately as the Principal Associate Deputy Secretary contributing to policy and regulatory matters affecting the FDA.

In addition to working for the Dept. of HHS, O’Neill also served on the Board of Directors (and was a founding member) for the Coalition for Cannabis Policy Reform. CCPR is a nonpartisan organization which opposes prohibition and supports reasonable marijuana regulation. O’Neill is likely to bring big changes to the FDA, easing research and perhaps access to cannabis based pharmaceuticals and nutraceuticals.

Continue reading “Trump Pick For FDA Could Help Marijuana Industry | But At What Cost?”

Will Trump Bring Back War on Drugs with Sessions AG Pick?

 

Copyright © 2017 All Rights Reserved
by Erik Muenker D.C. |  Exclusive CBDbusinessBlog.com

Will Trump wage a new War on Drugs?

President-elect Donald Trump’s hard-right pick of Alabama Senator Jeff Sessions for U.S. Attorney General has marijuana advocates across the nation sounding the alarm – and for good reason.

Just two weeks ago today, Americans in four states (California, Nevada, Maine, Massachusetts) joined Colorado, Washington, Oregon and Alaska by passing ground-breaking legislation to end marijuana prohibition and instead put in place a regulatory system to provide recreational access to marijuana for adults over the age of 21. There are now a total of eight states in the U.S. with legal recreational marijuana.

Get the details – Election 2016: Marijuana Legalization Spreads Across the U.S.

  Video: CBS News reports on the Trump pick for Attorney General

All this progress could be undone by one man – Senator Jeff Sessions, should he become the next Attorney General of the United States. As Attorney General, Mr. Sessions could rescind two key Justice Department directives. These directives, known as the Cole and Ogden memos, told federal investigators to lay off medical marijuana (learn more at Simple Justice – A Criminal Defense Blog) and step back from prosecutions.

According to the New York Times and John Hudak of the Brookings Institution:

The only person that could stop a newly appointed Attorney General Jeff Sessions – from dismantling medical and recreational marijuana laws across this country – is, well, President-elect Trump.

Buy John Hudak’s recent book on Amazon: Marijuana: A Short History.

Throughout Mr. Sessions’ 19 years in the Senate, he has been a rabid opponent of any legislation that smacks of drug reform. Senator Sessions is an outspoken opponent of medical marijuana, denying cannabis possesses any medical value – despite the voluminous evidence to the contrary. Learn more about the War on Drugs with this interesting and fact filled infographic and dig into the details on Vox.com.

Read more: Cannabidiol: Good for You and Your Brain?

Senator Sessions was even described as a militant prohibitionist by NORML Executive Director Erik Altieri in his recent blog post about the Sessions pick.

April 5th, 2016 – Senate Hearing with Jeff Sessions discussing his views on Marijuana.

Let’s take a listen to our possible future Attorney General.

U.S. Senate Hearing – April 5th, 2016 | Senator Jeff Sessions

Skip forward to 8min 45 sec into the video (8:45) and hear the now famous line from Senator Sessions: “good people don’t smoke marijuana.”

The nation’s leading organization advocating an end to the war on drugs, the Drug Policy Alliance (drugpolicy.org), believes marijuana prohibition inflicts far more harm than good on a society and strongly resists a return to the Reagan-era drug policies.

The DPA has even started a “Stop the Jeff Sessions Nomination” petition, as they fear Sessions will not only go after the legal recreational marijuana in Alaska, California, Colorado, Washington, Oregon, Nevada, Massachusetts, Maine and D.C., but also look to squash medical marijuana now available in half the states in the U.S.

Continue reading “Will Trump Bring Back War on Drugs with Sessions AG Pick?”

Election 2016: Marijuana Legalization Spreads Across the U.S.

Copyright © 2017 All Rights Reserved
by Erik Muenker D.C. |  Exclusive CBDbusinessBlog.com

2016 Election – A Game-Changer for marijuana

Voters across 5 states considered ballot measures legalizing the recreational use of marijuana for adults. Prior to Nov. 8th, just four states in the U.S. had decriminalized marijuana and setup a regulatory system for its legal production and sale – Alaska, Colorado, Oregon and Washington.

Cannabis measures rocked the vote in 2016!

Four states passed measures legalizing recreational marijuana for adults over 21 – California, Nevada, Massachusetts and Maine, bringing the total in the U.S. to eight states!

Arizona defeated Proposition 205, which would have legalized recreational marijuana. Better luck next time!

California

California, the sixth largest economy in the world (larger than France or India) just legalized recreational marijuana! Prop 64 passed by 56% of the vote.

What does this mean to California residents?

CA Prop 64 establishes a legal limit of one ounce of marijuana for adults over the age of 21. It also allows residents to grow as many as 6 marijuana plants at home (indoors). Rules regarding outdoor cultivation will be up to local governments.

No public consumption of marijuana will be allowed. However, consumption will be allowed in private clubs and at private events, given the event is permitted and licensed properly.

Learn more about California’s new law by checking out this article in The Sacramento Bee.

Nevada

With the passage of Question #2, Nevada also legalized the adult recreational use of marijuana. Beginning Jan. 1, 2017, residents can posses up to an ounce of marijuana. Sales at recreational dispensaries are expected to begin operations before Jan. 2018.

Learn more by reading the Las Vegas Review Journal.

Maine

The referendum to legalize recreational marijuana in Maine passed – but just barely. And its future is not at all certain. It took 2 days to count all of the ballots, with the measure ultimately passing by less than one percentage point.

According to the Portland Press Herald, opponents of legalization are moving ahead with a request for a recount. The “No on 1” campaign has until next Wednesday to collect the signatures needed in order to formally request the Secretary of State’s office to undergo an official recount and tally of the votes – something that would likely take weeks.

Read more about Maine’s new law and the politics surrounding the recount at The Washington Times.

Massachusetts

Voters in Massachusetts broke new ground last week by becoming the first New England state to legalize the recreational use of marijuana. Maine’s delayed tally and potential recount place it as the second New England state to legalize recreational marijuana.

Massachusetts has an opportunity to become a bellwether for Marijuana decriminalization and commercialization on the east coast. Residents of Massachusetts have the winds at their back and all of the east coast is watching to see how this new industry unfolds – in a state not unlike their own.

The new Massachusetts law allows adult residents to possess up to an ounce of marijuana AND keep up to 10 ounces of marijuana at home and grow up to six plants!

In short, the law proposes that Massachusetts legalize and regulate marijuana similar to alcoholic beverages.


What about D.C.?

The residents of the District of Columbia (D.C.) also decriminalized marijuana back in 2014 – take a look at the D.C. Metropolitan Police Department’s Facts on DC Marijuana Laws.

dcmj_legalization_ends_discriminationHowever, Congress has (each year) re-introduced a provision to the Omnibus Spending Bill – that effectively blocks the District of Columbia from taxing or regulating its marijuana sales. The Omnibus spending bills of 2014, 2015 and 2016 all maintained this provision and the trend is unlikely to improve with our next session of Congress.


About the Author
Erik Muenker D.C. – Portland, OR
Founder and Editor of CBD Business Blog |  Twitter: @CBDbusinessBlog

CBD-BB Logo and URLDr. Erik Muenker D.C. is the Publisher and Editor of the CBD Business Blog, an online blog and journal – your source for exclusive business, scientific, health and political news impacting the recreational and medical marijuana industries.

Our focus is on cannabidiol (CBD), a non-addictivenon-psychotropic and medically powerful cannabinoid found in marijuana and hemp. 

New Studies Show: CBD from Cannabis Reduces Schizophrenic Behaviors

Copyright © 2017 All Rights Reserved
by Erik Muenker D.C. |  Exclusive CBDbusinessBlog.com

Five Separate Medical Studies Indicate: CBD from Cannabis Reduces Schizophrenic Behaviors

− Schizophrenia effects more than 1 in 100
− 1.5 million new cases each year
− 10% commit suicide within 10 years

− cannabidiol (CBD) is the principle non-psychoactive ingredient in marijuana

Online Resources: NIMH | MHA | NAMI | MedlinePlus | APA

In study after study…
It takes as little as four weeks of treatment with CBD (a cannabidiol phytochemical obtained from cannabis), for researchers to begin to observe a reduction in the signs and symptoms of schizophrenia.

Schizophrenia is a serious brain disorder – the majority are diagnosed during late adulthood; although that is up for dispute, as late-onset schizophrenia is now believed to be a real schizophrenic disorder surfacing much later in life – often after the age of 45.

No one knows what causes schizophrenia. Symptoms range from moderate to severe and effects the way one thinks, talks and even moves. Some effected are helped through available anti-psychotics such as Risperidal, Abilify, Zyprexa, Compazine, Clozapine and others. But a large segment of patients experience severe and unpleasant side-effects from these pharmaceuticals and often refuse taking their medication.

schizophrenia-infograph1v3

New treatment options with fewer side-effects are needed and researchers are looking to CBD as a possible new treatment modality, one that appears to come with little or no adverse side-effects.

Cannabis to the rescue?

Cannabis contains two principle phyto-chemicalsTHC and CBD. THC is highly psychoactive and evidence suggests that alone and in high doses, THC might actually increase psychotic behavior and thoughts, this worsening schizophrenic or psychotic episodes.

Click here for more exclusive articles from the CBD Business Blog.

As luck would have it, nature has a built-in mitigator for the negative effects that can be brought on by THC. As it turns out, CBD (cannabidiol), is an excellent counter-weight to the potential adverse effects of THC. CBD acts as a modulator, a traffic cop of sorts, to limit many of the potentially adverse effects of THC.

Even in the absence of THC, CBD is a powerful neuro-protectant, anti-inflammatory, and anti-oxidant agent. All important factors in modulating a complex neurobiological disorder such as schizophrenia.

Learn more: Cannabidiol: Good for You and Your Brain

Medical studies referenced for this article:
  • GW Pharmaceuticals Announce Positive Proof of Concept Data in Schizophrenia
    GW Pharma Press Release 2015 | Link: http://bit.ly/2dOIGM6 
  • Cannabidiol, among other Cannabinoid Drugs, Modulates Prepulse Inhibition of Startle in the SHR Animal Model: Implications for Schizophrenia Pharmacotherapy
    Peres et al. 2016 | Link: http://bit.ly/2dOKp40


About the Author
Erik Muenker D.C. – Portland, OR
Founder and Editor of CBD Business Blog |  Twitter: @CBDbusinessBlog

CBD-BB Logo and URLDr. Erik Muenker D.C. is the Publisher and Editor of the CBD Business Blog, an online blog and journal – your source for exclusive business, scientific, health and political news impacting the recreational and medical marijuana industries.

Our focus is on cannabidiol (CBD), a non-addictivenon-psychotropic and medically powerful cannabinoid found in marijuana and hemp. 

 

Pennsylvania’s First Marijuana Farm?

CBD News Pick – Pittsburg Post Gazette

Laurel Green Medical aims to get state approval to supply medical marijuana

Denise Gargasz-Mueller and David Knepshield were checking out a 6.5-acre dirt lot at an Armstrong County industrial park last week, all the while envisioning a future in the cannabis growing industry.

In a matter of months, this bare flat could be the site of one of Pennsylvania’s first legal cannabis growing facilities, the home base of a company that’s already lining up medical marijuana dispensary locations in Sewickley, Cranberry and possibly Mt. Lebanon and the Strip District.

Just a few years ago, these two entrepreneurs would have made an unlikely pairing:

Mr. Knepshield is the former CEO of Ford City-based Klingensmith Healthcare, a home medical equipment supply company, while Ms. Gargasz-Mueller, who comes from a farming family, has spent the last four years lobbying to get medical marijuana legalized in Pennsylvania.

With legalization now on the books and the first dispensaries due to open in 2018, their partnership “brings all the right ingredients together,” she said.

Their fledgling company, Laurel Green Medical, has already done a lot of things right — meeting with local officials to line up community support, bringing legal and scientific specialists onboard, and setting out a detailed business plan for attracting investors.

The company is applying for one of the five state-allowed “seed-to-sell” licenses that would allow the partners to grow, process and dispense. They expect to find out if their application is approved around March of next year.

Their goal is simple, said Ms. Gargasz-Mueller: To provide high-quality medical cannabis in a safe, compassionate and discreet environment.

But they also know that while the medical marijuana industry has seen explosive growth the past five years, lurking in the background is a federal law that still considers their product illegal.

So far, Mr. Knepshield said, no major banks here want to touch the medical marijuana business, even though federal officials have indicated they will leave it to state and local agencies to enforce their own narcotics laws.

“Any bank that is federally regulated will not have anything to do with this. It’s not illegal for them to do it. They just don’t feel comfortable with it yet.”

Diane Czarkowski, who with husband Jay started one of the first cannabis dispensaries and cultivation operations in Colorado in 2009, said that’s not uncommon.

“We went through eight banks, but we did finally find one that realized they could get some new business by addressing this industry,” said Mrs. Czarkowski, who has since left the dispensary business and now offers consulting services for cannabis startup businesses through the couple’s company, Canna Advisors.

Laurel Green hopes to work with smaller, state-chartered banks and credit unions to the extent they can; to the extent they can’t, this will be a cash business handling millions of dollars. So, yes, security will be a priority.

“This place will be Fort Knox,” promised Mr. Knepshield.

Like other states that have recently legalized medical marijuana such as New York, New Jersey and Maryland, Pennsylvania is going to require applicants to show they have the financial wherewithal to make a go of it.

Just to apply for the license to grow, process and dispense medical marijuana, Laurel Green Medical has to produce a non-refundable $10,000 payment. The company has to put down another $200,000, which is refundable if the application is denied, for the license. And the partners must demonstrate they have the capital backing to pull the whole thing off, including documentation they have another $500,000 in the bank and another $2 million in assets.

Click here to continue reading the published article.


CBD-BB-Logo10

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