As a newly minted medical marijuana state, Missouri is a brand new area of opportunity in an extremely rewarding and competitive sector that’s likely to change the nation’s business landscape.
Within six months, entrepreneurs hoping to get one of 3 permits to develop, procedure or distribute health-related marijuana will have the ability to apply. Meanwhile, they might need to navigate a brand regulatory environment as they build the foundations of the future companies.
These people, like growers and dispensary owners, will probably find the counsel of lawyers and advisers trained in medical marijuana legislation to help them wade through the red tape.
Medical marijuana, by its own nature, is much more controlled than recreational marijuana, given that the fact that patients should first be certified by a physician that they have at least one of the requisite conditions outlined in Amendment 2 and then can obtain a permit in the Missouri Department of Health and Senior Services.
Experts say greater regulation is valuable since it retains markets secure in the first phases of the business’s development.
Peter Andreonea marijuana firm attorney based in Kansas City, said it is tough to state how controlled Missouri’s medical marijuana sector will be compared with other nations because”these regulations have not been established yet.”
“From the wide spectrum of matters, I believe (Missouri will) be in the center of the street” in comparison with other nations, stated Andreone, founder and owner of Andreone Law and adviser using Hoban Law Group at Colorado.
Small business owners in Missouri who aspire to obtain a permit and get started growing/dispensing medical marijuana will almost certainly be in fierce competition with individuals that are well-funded and that have funding from people with expertise opening dispensaries and beginning grow operations in different nations.
All permits for medical marijuana cultivation, testing and manufacturing centers, in addition to for dispensaries and entities together with transport certificates, must be kept by entities which are majority owned by Missouri taxpayers.
There’ll be Missouri residents that are 51-percent owners of these operations, which makes them bulk owners, but that possess the extra benefit of capital coming from outside the country.
Just getting started on a huge scale in the business will need massive quantities of capital, Andreone explained.
Cultivation licenses will be the most highly sought after and aggressive from the 3 different types of licenses, ” he said, given they are limited in amount and permit growing marijuana in bulk amounts.
“If you would like a whole seed-to-sale company, in which you are growing it, you are selling it, you are distributing it, you are selling it at a storefront, you are perhaps even creating your own edibles, you are likely to want certainly six figures,” he explained. “And if you would like to do all, you are looking at seven amounts in investment simply to begin and fully financed,” Andreone explained.
Business owners will also need to negotiate with towns, that have the capability to establish local zoning legislation ascertaining where marijuana grow operations and dispensaries may and can’t be established, however, it’s anticipated that cities may also greatly benefit significantly in the structure, Andreone explained.
Andreone stated every state with medical or recreational marijuana legislation governs cannabis otherwise, also in Missouri, each cannabis seed implanted will need to be controlled, a method called a seed-to-sale monitoring program.
Given that this amount of law, growers will require expert guidance on not just the very best means of growing marijuana, for example, what sorts of nutrition to utilize and just how far apart the plants must be dispersed, but on how to pick the suitable real estate, whom to employ to guard the harvest, and the number of cameras they’re needed to set up to track grow operations.
Andreone expects this law to make opportunities for property agents, security businesses, CPAs, tax advisors, PR companies, lawyers and consultants, amongst others, who have the regulatory understanding about Missouri’s medical marijuana business that will shortly be in high demand.
George Nolen is a cannabis adviser and Missouri native presently working in the marijuana industry in Portland, Oregon.
Nolen was included in New Approach Missouri’s failed 2016 bid to pass medical marijuana and stated that the Department of Health and Senior Services has 180 days to discharge regulations and rules pertaining to medical marijuana.
“It would not surprise me if people view that the regulations introduced and the software published ,” he explained.
Nolen intends to come back to Missouri and set himself at the St. Louis area for a cannabis adviser that specializes in the technicalities of big marijuana grow operations.
Given the farming licenses in Missouri demand large grow surgeries, Nolen stated that scalability is going to be the largest issue for prospective cultivators.
“I hope to start some people’s eyes regarding the quantity of dedication and work that it is going to take to construct a thriving company,” he explained.
Adam Raleigh intends to set up shop in the country and also to begin a surgery growing cannabis to the medical marijuana market.
Raleigh is a St. Louis native, a Navy veteran and has been developing cannabis for more than ten decades, an experience that gave him considerable knowledge on the cannabis cultivation process from seed to harvest.
Raleigh is presently operating in the market in Colorado. Considering just how saturated the market is in Colorado, Raleigh stated, it is sensible to visit a recently established medical condition like Missouri.
Raleigh said that given Missouri’s new health care standing, “it behooves the growers to proceed with significantly less synthetics” and also to develop a more natural and finally healthier product.
Raleigh said the amount of marijuana is relatively low in Colorado, and therefore it’s hard to acquire the startup capital needed to perform the sort of job he would love to perform.
“So the only real way to do a natural product would be to take action in a new marketplace,” Raleigh said.
Raleigh also stated that being a medical marijuana condition, and much more highly regulated than nations with recreational cannabis legislation, is a fantastic factor for the growth of Missouri’s sector in the long term.
Medical cannabis, Raleigh stated, being regulated permits for more growers concentrated on natural or organic products to benefit from the higher costs that this sort of product would bring for the initial two to three decades. As the market grows and costs return, manufacturers can flip those economies over to patients,” he explained.
Andreone explained that beginning a marijuana business in a health condition is very different than setting up one in a recreational condition.
So far as a cultivation of marijuana goes, the government will begin accepting program fees 30 days after the legislation takes effect on Thursday, Nolen said.
Nolen said he’d urge anyone interested in receiving a permit to place those funds apart and also to”cover their application fees up front, or so the nation has some usable funds to execute this application since it is definitely not going to be economical for them”
Right now, Nolen relies on media with prospective permit holders at Missouri and has been attempting to build relationships with cultivators and people beforehand that are thinking about launching retail places and/or extraction centers, where marijuana could be processed into goods.
Nolen added that he anticipates a lot of individuals from outside the country to enter which he expects there to be a push for recreational marijuana use in Missouri from 2020. He expects his solutions can help companies establish a market in the business in order to be ready for what’s to come.
A former drug addict who recovered with cannabis and one dad who lost his wife to that which he calls the”overprescription of opioid medication in the state of Missouri,” Nolen is excited about coming home to Missouri to operate in a sector he’s enthusiastic about.
Raleigh explained that how Missouri’s medical marijuana legislation is written”is very conducive to enabling open competition and allowing for distinct kinds” of marijuana to be increased. Additionally, it may take until 2020 for Missouri’s medical marijuana system to really kick, Andreone explained.
“From January of 2020 is if a Missourian is going to have the ability to walk into a dispensary and purchase medical marijuana. It is going to have a year for a lot of this to perform ”
Andreone stated he anticipates great things to come from the future provided that Missouri’s medical marijuana sector is wide open.
“I think that it’s likely to have a huge effect on Missouri’s economy,” he explained.
“According to what we have in the Missouri constitution, I think that it sets to get a very powerful, wide medical marijuana market,” Andreone added.
First Legal Harvest Season for Michigan’s Thousands of Acres of Hemp
While Michigan’s recreational market is nearly shaping up, farmers and processors across the state are busy working with another strain of Cannabis sativa L. for its first legal harvest season.
The 2018 Farm Bill spurred this turn of events following the legalization of industrial hemp. Michigan established a pilot program not long after, wherein registered and licensed 572 growers planned to grow 32,614 acres, with 423 hemp processors at the helm.
After cultivating during spring and summer, many farmers are almost to harvesting their first hemp crop legally.
Hemp in Michigan
Vice President Dave Crabill, for the state association comprising farmers, manufacturers, and processors, iHemp Michigan, said that they are looking into scaling hemp to process CBD and the plant fibers.
The group met on Monday in Lansing to discuss hemp’s introduction to the agriculture industry in Michigan.
Although the state’s Department of Agriculture and Rural Development are still unsure whether the planned acreage has been planted with hemp, Michigan Industrial Hemp Program Director Gina Alessandri stated that the prospective yield at the end of the year determines what kind of the first crop will be produced.
David Connor planted 26 acres of hemp to replace his blueberry farm in Paw Paw. He has since harvested 20K pounds of industrial hemp. The said crop is split between the stalk, which is commonly used for fabric, paper, and building materials, and the flower from which CBD can be extracted.
Connor noted that the ROI for hemp shows promise. According to USDA, an acre of corn is valued at $543, while an acre of hemp can go as high as $10K to $20K. However, Connor said that the process is labor-intensive, and the market value is still a big question since harvest season is still ongoing.
Hemp and CBD
Hemp is a cannabis plant, as is marijuana; however, hemp contains significantly lower amounts of THC or tetrahydrocannabinol, which is the psychoactive compound causing the addictive nature of marijuana. It is a controlled substance since 1970 and is illegal for recreational use based on federal laws.
There wasn’t any difference in the definition of both varieties up until the 2018 Farm Bill, which legalized hemp for cultivation and processing. Moreover, the bill permits the transportation of hemp and its related products across different states, provided that the THC content is less than 0.3%.
There are many CBD products in the market today, ranging from a variety of industries, from skincare to pet health and even food tech.
CBD is famous for supposedly having therapeutic benefits, such as to provide pain relief and alleviate anxiety. In 2023, the Brightfield Group forecast study projects the CBD industry to grow at $22B.
How it helps farmers
GTF Llc. CEO Gary Schuler noted that farmers benefit significantly from choosing hemp as their crop because the entire plant can be processed and used. His firm dries and then processes hemp waste to be used in food products, biodegradable plastic, animal feeds, and building materials.
Schuler further added that growing hemp decreases carbon footprint because hemp-based plastics are biodegradable, as opposed to petroleum-based plastics.
While waiting for the Food and Drug Administration to layout the final rules for CBD, Michigan plans to proceed with the hemp program in 2020. They are looking to hand out licenses to interested parties.
On the other hand, recreational marijuana use is another emerging cannabis business that will commence after business license applications on November 1 will be accepted and evaluated before awarding licenses at the end of 2019.
Pilot CBD Store Opens Its Doors to Dawson County Residents
Your CBD Store Dawsonville became the first-ever store in Dawson County to sell CBD-containing products when it opened last Friday, September 20. The store put various CBD products on display like oils, tinctures, topical creams, and water solubles, which they promise are some of the best in the market today.
Offering CBD Products to the Public
Jaime Buice, Your CBD Store general manager, stated that the incidence of getting high from their various products is highly unlikely. He reiterated that their products do not possess any psychoactive property and thus does not cause an addicting high.
He further said that customers come to their store to seek help for many different health conditions. Whether it is to focus more like in attention-deficit/hyperactivity disorder (ADHD) or attention deficit disorder (ADD), or problems in arthritis or inflammation, people are always looking for a cure to their problems.
The store sells various products like water-soluble CBD oil taken with water, topical creams for inflammation and pain, and tinctures applied by placing a few drops under a user’s tongue.
More About CBD
CBD or cannabidiol, for all its fame, is still misconceived by many individuals today. It is an active compound in the hemp variety of Cannabis sativa L., the same source plant species as marijuana, an addictive and still largely illegal substance.
This simple fact is the reason for the confusion between CBD extracted from industrial hemp and those that are from marijuana.
Industrial hemp is taxonomically similar to marijuana, yet different in a major way. Hemp only has less than 0.3% of tetrahydrocannabinol or THC by dry weight. THC is the culprit for marijuana’s psychotropic properties, which causes the “high” commonly experienced by a marijuana user.
On the other hand, marijuana contains a high THC level of 5-20% by dry weight.
Most CBD oils are produced to have only trace amounts of THC or none of it at all.
It is legal under federal law to sell, produce, and use CBD oil derived from the hemp variety. The 2018 Farm Bill recognizes the lawfulness of hemp and its derived products and is the basis for updates on state laws concerning the said substance.
CBD Laws in Georgia
There are specific circumstances that dictate the state of CBD laws in Georgia, which Your CBD Store Dawsonville and other CBD companies have to respect. For instance, their stipulations use the term low-THC oil instead of CBD oil.
Haleigh’s Hope Act or the House Bill 1 of 2015 permit access to CBD oil for residents who are suffering from severe health conditions like cancer or epilepsy. It also grants universities the privilege to conduct studies on CBD that aim to alleviate child seizure disorders. The condition is that the CBD-containing product must not have more than 5% THC content.
Anyone who wants to purchase low-THC oil in Georgia must have an identification card proving that they are in the registry. Other than epilepsy, CBD is also believed to treat other illnesses such as inflammation, arthritis and even anxiety.
CBD Water Might Just Be the Next Big Thing Since White Claw
Sparkling water that comes in different flavors are a big hit this month, and it was only a few weeks ago when White Claw suffered shortage nationwide due to its rising popularity.
Recently, a new kind of sparkling water is starting to make rounds on the internet because of its one ingredient that produces a good feeling once you consume it—CBD.
Cannabidiol, or CBD as it is more commonly known, is being infused in plenty of consumer products like cosmetics, coffee, beer, edibles, and tinctures. Companies are looking to expand to a bigger market by targeting bubble water production with the CBD twist, which offers relaxation effects.
These CBD-infused flavored seltzers are a great alternative to the hard seltzers and are quickly becoming a sensation in the market across the country. Some big distributors of beverages are quickly catching on the trend as well.
However, not everyone knows what CBD is, let alone why it’s growing famous these days. Does it cause the same high as its cousin product, marijuana? Why are CBD-laced refreshments manufactured and where to get them? Here are some of the things you need to know about CBD water.
Is CBD Illegal?
The Farm Bill of 2018 has given licenses to many growers across the US to cultivate and sell hemp and hemp products such as CBD. However, state and federal laws often don’t blend together, causing confusion in many states, particularly those that still have stringent regulations on cannabis.
Hemp is legal under federal laws as long as it has no more than 0.3% THC content. Tetrahydrocannabinol or THC is the active component of marijuana that causes its psychoactive properties.
While hemp and its derivative CBD is lawful in the federal point of view, state laws might still make these products illegal on a certain state, which is also the reason why CBD-containing sparkling drinks may not be legal in all of the US.
Robertson Allen, Ph.D., The Hartman Group senior consultant, advises companies that while CBD is viewed as legal nationwide, infusing it in drinks and food is another regulatory issue that falls under the jurisdiction of the FDA.
Soda-making company Sprig CEO Michael Lewis stated that the FDA stance on CBD is clear, which means that the substance is still now allowed to be incorporated in food and drinks today. It’s contradictory to the federal ruling, which is why the FDA is meeting pressure from both Congress and the general public.
Lewis also said that the FDA may likely allow CBD in consumable products anytime now or until 2020.
Why are Companies still pushing for CBD drinks?
Despite the FDA stance, companies are still interested in considering CBD as their next investment. This is because CBD is claimed to have therapeutic benefits, from pain relief to reduction of anxiety. It could be the next popular product especially for young people who are mostly suffering from anxiety.
Allen revealed that their latest study concerning health and wellness showed that consumers are trying out products that may manage or treat their anxiety. CBD-infused drinks might pique the interest of millennials and the Gen-Z since they are also curious about cannabis.
Benjamin Witte, CEO, and founder of the Recess brand attests to CBD’s effects because he has used it himself. He recalls trying CBD oil around two years back to tone down his anxiety and hyper personality.
Witte also notes how important it is to build a strong impact when establishing a beverage company. Like Mountain Dew and Sprite that advertise a dramatic change like becoming an athlete, the mood-altering effects of CBD can be a positive addition to the marketing strategy.
Another CBD sparkling water manufacturer from Colorado, DRAM Apothecary, incorporates more than the hemp extract since many plants also have great benefits to health.
CBD affects people differently, which is why such drinks may have varying degrees of relaxation if any at all. Witte likened it to coffee, wherein other people can’t tolerate the drink while some can have as much as four cups before bed.
There still isn’t any data on how much manufacturers are cashing in on the CBD water venture, but there are clues to note. Four of DRAM’s sparkling water are out of stock, and they have recently partnered with Coors to expand the business.
Where can CBD sparkling water be found?
The FDA decision on CBD might still be unclear, but beverage companies have started to market their respective products, usually through online stores. Others can already be found in convenience shops and groceries.
Allen says their company is selling to retailers who live in states that allow medical and recreational use of the substance.
Here are some of the brands that have CBD sparkling water in the market today:
Sprig is based in Newport Beach, California and produces 0% THC CBD sodas. They use stevia as a sweetener and are promoting cocktail recipes that use their sodas in the mix.
The said Colorado-based company DRAM markets their CBD-infused Beauty Bubbles mixed with rosewater and hibiscus sparkling water. They sell herbal beverages that come in many flavors.
Another company from Colorado produces sugar-free CBD water and some bite-sized edibles.
Recess is a company from New York with a well-designed brand that makes them an Instagram favorite. Their CBD water is sold in NYC stores as well as in Miami and Southern California.
The present is a brand that is the result of a partnership between hemp manufacturer WAAYB Organics and brewery from Colorado called Left Hand. These also come in many flavors.
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