Republican state of North Carolina senator Bill Rabon refiled a medical cannabis legalization bill in late January that would allow patients with cancer, post-traumatic stress disorder, and other conditions to buy and possess cannabis from a licensed dispensary.
The bill was approved by the Senate Judiciary Committee despite being blocked last year. House Speaker of Congress Tim Moore said in an interview that he would not be surprised at all if the bill moved.
North Carolina is making great progress towards establishing its medical cannabis market, according to early looks at the bill.
The initial plans within the state are for ten vertically integrated licenses to be approved, holding up to eight dispensary licenses and allowing for 80 doors statewide. Operators born from a similar tight license count model have been successful in the past.<br />Better informed investors are more intelligent.
The Florida market has grown a lot over the years. There is a chance that adult-use weed will be legalized in Florida in 2024.
When this is all in place, there will be a lot of interest. There is more legislative progress in South Carolina. This week, the Senate passed a bill that would allow medical cannabis in the state. The absolute potential for this bill to progress earlier this year was covered by James Tayler's song "Carolina in My Mind," one of the best songs ever. We want the Carolinas to bring jobs, tax revenue, and legal choice to the people of both states. The South will rise again as a growth engine for cannabis.
Legal cannabis companies can run ads on social media sites.
.Speculation swirled around the possibility of the social media platform becoming more cannabis-friendly while Musk owned it. Last week, the cannabis industry received a good confirmation of that, as Twitter announced a policy change that will allow US cannabis companies to advertise on its platform. We are very excited by the move of the social media platform to create a path for legal marijuana advertising.
Mainstream advertising platforms have been reluctant to market an illegal cannabis industry and have expressed concern about ensuring potential advertisers are legit.
We expect more growth as Twitter ensures procedures are compliant and comfortable. There were over 20 million mentions of cannabis on social media in the year 2000. Most conversations about cannabis are from people between the ages of 35 and younger, but the most significant increase in conversations is from people over 45. Advertisers see a growing consumer base with potentially more disposable income as the growth within this older cohort is intriguing. A survey found that 76% of people said they purchased a product from a conversation on a social networking site. Amy Deneson, the co-founder of the Cannabis Media Council, said that it was a "groundbreaking thing for many marijuana advertisers to be able to reach their markets and their audiences without doing any type of workarounds." Our very own "Cannabis Closing Bell with Poseidon" is hosted on Tuesdays and Thursdays at 4 p.m., and is one of the many cannabis-focused conversations that can be found on social media. There is an hour and a half later. The TPCO and GoldFlora merged. After a deep freeze, cannabis M&A is starting to thaw.
The conditions for M&A returning is one of the top cannabis trends we're watching for the next five years.
The legal cannabis industry needs M&A to create operational efficiencies and improve bottom-line fundamentals. There was a merger of equals between public and private companies. We have known about GoldFlora for a long time, and they have a good reputation as a flower producer. Troy Datcher, a current CEO of TPCO, will become chair of the "New Parent" company's board, while Laurie Holcomb will become CEO. Datcher said in the press release that the merger is the next stage in the company's evolution. More consumer brands and broader consumer reach will be spurred by this vertical integration.
We had a mixed reaction. The transaction notes savings in the $20-million-plus range, which means many redundant parts must be closed. The Parent Company has been cleaning up assets that made sense. As the new footprint is centralized, we expect to see staff reductions.
We don't think creating an unbalanced structure with too much capacity is a good idea. The proforma company has a gross margin of 32%. The Parent Company's retail footprint needs to be better balanced, and a better margin profile needs to be achieved.
There is a heightened degree of execution. The New Parent was able to execute its strategy by using the cash on its balance sheet. The inherited debt, issued a line of credit, transaction costs, and likely longer than expected duration of synergy realization look less bright. The Parent Company will likely get a better outcome from this deal than the challenges that come with it. We will watch this evolving story to see how well the team can achieve this endeavor.
The cannabis research bill was approved by the Veterans Committee.
There are more research opportunities in the U.S. The Senate Veterans Affairs Committee passed a bill to conduct further research on cannabis treatments for chronic pain and post-traumatic stress disorder. The study will look at the positive and negative health outcomes of cannabis use by veterans and other aspects of cannabis use.
There should be a choice on how to recover from the service. Legalizing this bill would be great if it were to move quickly. The bill would show that specific legislation is the best way to progress cannabis legalization.
The Cannabis Experience in Denver is the first marijuana consumption bus in the nation. Local marijuana users can enjoy safe, legal cannabis tours, airport transportation, and private cannabis-friendly party buses.
Private party bus rentals with food and art themes will be offered by the Cannabis Experience.
Tours of the city and tourist attractions are provided by the service. The cannabis industry is stringent. Sarah Woodson said they are excited to be the country's first licensed mobile business. We are both social equity and black.
Over the next 24 months, we will expand our fleet into other local cities such as Aurora. The legalization fight is moving in a positive direction. We're proud to be in the industry.
The grand opening of the cannabis grows and dispensary will take place on March 1.