LOCAL NEWS

CALIFORNIA

California Cannabis Sales On The Rise Despite Pandemic

California’s legal Cannabis market continues

to grow year over year. In Q2 2020, California reeled in more than $208 million

in weed derived tax dollars. Adding in the $84 million from Q1 tax revenues, and the state has seen just shy of $300 million this year. Since the beginning of the state’s adult-use market in 2018, California has brought in nearly $1.5 billion. However, this is only a fraction of the revenues the state could potentially derive. Currently, about 75% of the state’s cities and counties maintain a moratorium on Cannabis businesses, hindering the legal market’s success and bolstering the illicit market, particularly within those jurisdictions. Other states like Oregon and Illinois are seeing similar trends and posting record numbers for both sales and tax revenues.

Cannabis Research Lab Coming to Desert Hot Springs

The first research company to land a government contract to study Cannabis will be headquartered in Desert Hot Springs, California. Royal Emerald

Pharmaceuticals secured a former K-Mart, a three million square foot space, and plans to employ over 400 individuals

to operate the facility. The company’s focus will lie in research and development, with the goal of producing the first non-addictive medicine that can be used to treat veterans and first responders that suffer from Post Traumatic Stress Disorder, known commonly as PTSD. The site will be primarily used for cultivation and laboratory space, however it will also house a 200 bed opiate addiction recovery facility, slated for launch in 2021. While the terms of the Drug Enforcement Agency sponsored contract weren’t disclosed, Royal Emerald Pharms announced it plans to spend $400 million over the next five years to develop these facilities.

THE LAB HAS THE GOAL OF PRODUCING THE FIRST NON-ADDICTIVE MEDICINE THAT CAN BE USED TO TREAT VETERANS AND FIRST RESPONDERS SUFFERING FROM POST TRAUMATIC STRESS DISORDER.

Fire Destroys Cannabis Farms, Threatens More

The hellish year that is 2020 continues to unleash devastating event after

devastating event. In late August, a group of thunderstorms occurring across California sparked hundreds of fires that claimed several Cannabis farms, and with limited containment and a waning workforce due to COVID-19, it’s likely they won’t be the only losses sustained this season. More than 11,000 lightning strikes SMOKE IS ALSO A SIGNIFICANT ignited more than 300 FACTOR WORKING fires in a 72-hour period. Beyond the threat of AGAINST OUTDOOR CANNABIS FARMERS ACROSS THE STATE. losing additional farms to fire, smoke is also a significant factor working against outdoor Cannabis farmers across the state. Not only can smoke diminish a plant’s exposure to the sun, if it’s bad enough, it can translate to the end product and lessen the quality - or even render it largely unusable.

Long Beach City College Adds Cannabis Curriculum B eginning in September, Long Beach City College will be launching the first Cannabis-focused class in their curriculum. All 42 slots for the eight week long course covering all aspects of the Cannabis industry were filled in under two hours. The course is being taught by state licensed analytical testing facility BelCosta Labs VP of Strategy and Operations, Nate Winokur. The course will take place remotely and is designed to assist those looking to enter the industry, educating students on everything from the history of legalization to cultivation to retail. This development signifies the continued and growing need for mainstream organizations such as universities and research laboratories to accommodate the ongoing demand for enhanced education on Cannabis.

CANNABIS CO-MANUFACTURING & DISTRIBUTION

PERMISSION TO COME ABOARD TO PRODUCE EDIBLES • HARD CANDY • GUMMIES • CHOCOLATE • BEVERAGES TOPICALS • TINCTURES • BEAUTY PRODUCTS • VAPES • FLOWER • PRE-ROLLS

& ANYTHING ELSE YOU CAN DREAM UP!

WE CAN HELP BRANDS NAVIGATE: RECIPE / FORMULATION DEVELOPMENT, LABEL COMPLIANCE, PACKAGING OPTIONS, DISTRIBUTION & TESTING.

WE HAVE YOUR NEXT EVENT SPACE!