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The Mexican Senate approves Cannabis Legalization

  After long months of waiting, the Mexican Senate on Thursday approved the bill to legalize cannabis in Mexico. Before it becomes…

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After long months of waiting, the Mexican Senate on Thursday approved the bill to legalize cannabis in Mexico.

Before it becomes law, the text must also be adopted by the country’s other congressional body, the Chamber of Deputies.

The future law, released in draft form earlier this month, will establish a regulated cannabis market in Mexico, allowing adults 18 years and older to buy and possess up to 28 grams of cannabis and grow up to 6 plants for personal use.

There were some technical late-breaking changes incorporated into the bill. Like increasing the limit to 6 plants from the initial limit of 4 self-cultivated plants per person to ensure that people who grow cannabis for personal use are not forced to report their plants to regulators.

A further change requires the government to erase the criminal records of people who have already been convicted of cannabis within 6 months.

Legislators also removed the prohibition on possessing more than one type of cannabis license, allowing for the vertical integration of cannabis companies. An earlier version of the bill would have only allowed people from vulnerable communities to hold more than one type of license.

Another amendment stipulates that non-profit consumer associations, such as the Cannabis Social Clubs that collectively grow cannabis, must be located at least 500 meters from schools, sports, and recreation centers and any place where third parties who have not given their consent could be exposed to smoke.

The Senate voted in favor of the bill by 82 votes to 18, with 7 abstentions.

The Mexican Senate approves Cannabis Legalization
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Source: https://www.cbd.ci/news/the-mexican-senate-approves-cannabis-legalization/

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Mississippi Supreme Court Allows Opponents of Medical Cannabis To Challenge Vote Results

Opponents of legalizing medical cannabis had the chance to argue against a voter-backed ballot initiative in the Mississippi Supreme Court this week.

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The Mississippi Supreme Court heard arguments this week challenging the state’s overwhelming vote in support of medical cannabis last November but advocates still have their high hopes. 

The Mississippi Cannabis Trade Association released a statement following Thursday’s oral arguments that would determine the industry’s fate. If the challenge is successful it would essentially nullify the election night win for compassion in Mississippi. 

The idea behind the challenge is an old law that says you need 20% of your signatures to come from each of the state’s congressional districts. The problem? Mississippi lost a congressional district in 2003 and officials never updated the law. Now the opposition is attempting to use it as a de facto ban on ballot initiatives. 

“The Mississippi Cannabis Trade Association (MSCTA) looks forward to reviewing the Mississippi Supreme Court’s imminent ruling on the recent legal challenge to Initiative 65. At its very core, this is a matter of upholding the will of the citizens of Mississippi and their constitutional right to propose and enact amendments through the ballot initiative process,” the statement reads. “The state constitution expressly prescribes certain enumerated rights to the people of Mississippi, and therefore, its provisions should be interpreted in a manner that preserves these rights, not destroys them.”

The wildly high number of 75% of Mississippians voted in favor of medical cannabis for a list of 22 qualifying debilitating medical conditions last fall. To put it in perspective, that’s a 20-point larger victory margin compared to when California passed Proposition 215 in 1996

Regardless of the stress of court, The MSCTA is excited to see regulators get the ball rolling on for the deadlines mandated by the vote. 

“The MSCTA is encouraged by the recent moves by the Mississippi Board of Health to enact regulations that will lead to the creation of a vibrant and responsible cannabis marketplace in Mississippi,” they noted. “The MSCTA also would like to emphasize that legal cannabis, whether medical or adult use, is a thriving industry that is growing at breakneck speed.” 

MSCTA also argued the new economic sector would create thousands of jobs the state, stating that, “As more states formally recognize the medical and economic realities behind legalized cannabis, Mississippi should not be left behind—and its people chose not to be.”

Should The Mississippi Supreme Court Even Be Entertaining Challenges?

MSCTA Executive Director Jessica Rice talked with High Times on Thursday about where things now stand. 

“You know, we are excited about what’s happening with the Mississippi Department of Health and how they’re moving forward,” Rice said, “ And just, you know, we thought both the arguments were good and strong in support of upholding the initiative and we’re excited to put this chapter behind us and move forward.”

We asked Rice if she had ever seen another ballot initiative in Mississippi face this kind of scrutiny.

“Not to my knowledge,” she replied. “There have been controversial initiatives in the past, but nothing that has overwhelmingly been supported by Mississippians and then still faced so many challenges afterward.”

Rice spoke to how Mississippi voters feel watching this all play out. “I think frustration. People want to be able to be a part of the civic process,” she said, “And when they feel like they have engaged in the proper avenues and have their vote or decision undermined, it will lower their confidence in the process.”

While the namesake of the organization is technically hanging in the balance, MSCTA’s membership is actively trying to get their ducks in a row for whatever the licensing process will end up looking like. 

“I think, despite the challenges that we’ve seen by the legislature and through the Supreme Court, people are still really excited about having a medical marijuana program in the state, and they are just excited to see this industry come here,” Rice said. 

NORML State Policies Manager Carly Wolf also gave her take on the current legal proceedings. 

“Legalization opponents have shown time and time again that they cannot succeed in either the court of public opinion or at the ballot box,” Wolf told High Times. “Thus, they are now asking judges to set aside the votes of over a million Americans in a desperate effort to override undisputed election outcomes. Whether or not one supports marijuana legalization, Americans should be outraged at these overtly undemocratic tactics, and the [Mississippi Supreme Court] should reject them.”

We’ll keep you posted on the ruling by the Mississippi Supreme Court when it happens.

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Source: https://hightimes.com/news/mississippi/mississippi-supreme-court-cannabis/

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New Poll Shows Almost 70% of Americans Want Legal Cannabis—More Than Ever Before

The polled people have spoken: Americans want legal cannabis.

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According to a recent poll, across the country, more Americans want legal cannabis now than ever before.

The national polling data was put together by Quinnipiac University. This is the highest level of support ever reported in a nationwide survey and marks an even bigger shift in cannabis acceptance. The poll was directed by Doug Schwartz, Ph. D., and was based on random samples of adults using random digit dialing with live interviewers. The study has been conducted this way since 1994 and is considered independent and non-partisan.

According to the numbers, about seven in ten Americans believed that cannabis should be legal in the U.S. at the time of polling. Sixty-nine percent of those polled shared their support, and when looking just at registered voters, 70 percent are in favor. This number is up 19 percent from 2012 when the poll was first taken. 

“There is no buyer’s remorse on the part of the American people. In the era of state-level legalization, voters’ support for this issue has grown rapidly—an indication that these policy changes have been successful and are comporting with voters’ desires and expectations,” NORML’s Executive Director Erik Altieri said. “Today, voters of every age and in virtually every region of the country agree that marijuana should be legal. We have a mandate from the American people and we intend to make sure that elected officials abide by it.”

This poll is also a big deal because support for legalization is more and more becoming a non-partisan issue in the United States. Sixty-two percent of Republicans, 67 percent of Independents and 78 percent of Democrats back legalizing cannabis. While Democrats are still in the lead in terms of legalization support, the other two groups are quickly catching up. 

However, this non-partisan split is not being reflected through elected officials, as Democrats are still by and large the only group to support issues. Republicans still often vote against cannabis legislation. The recent legalization efforts in New Jersey, New York, Virginia, and New Mexico were all thanks to Democrats and received almost no Republican support.

Still, despite that setback, the Quinnipiac data showed that cannabis is increasingly being supported by Americans of all ages, not just young people. While the percentage of support is the highest among young and middle-age people, at 78 percent for those between the ages of 18 and 49, there is still support from older groups. Those 50 to 64 support cannabis at a rate of 72 percent, and even folks 65 and older give 51 percent support to legalization.

This is not the first time this data is being offered up. Other polls have shown similar results, and the national push for federal legalization, as well as more and more states becoming legal, is also proof of the growing acceptance for cannabis in America. However, this poll is significant because it shows more support than any data before. Since the numbers seem to indicate that Americans want legal cannabis, elected officials would do well to take note and start to implement changes that reflect the will of the people.

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Source: https://hightimes.com/news/poll-americans-want-legal-cannabis/

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Icanic Brands Enters into Definitive Agreement to acquire THC Engineering

VANCOUVER, British Columbia, April 15, 2021 (GLOBE NEWSWIRE) — Icanic Brands Company, Inc. (CSE: ICAN, OTCQB: ICNAF) (“Icanic Brands” or the “Company”), a multi-state brand operator in California and Nevada, is pleased to announce that it has entered into a share exchange agreement dated April 7, 2021 (the “Definitive Agreement”) among the Company, THC Engineering, […]

The post Icanic Brands Enters into Definitive Agreement to acquire THC Engineering appeared first on CannabisFN.

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Ryan Allway

April 15th, 2021


VANCOUVER, British Columbia, April 15, 2021 (GLOBE NEWSWIRE) — Icanic Brands Company, Inc. (CSE: ICAN, OTCQB: ICNAF) (“Icanic Brands” or the “Company”), a multi-state brand operator in California and Nevada, is pleased to announce that it has entered into a share exchange agreement dated April 7, 2021 (the “Definitive Agreement”) among the Company, THC Engineering, LLC (“THC Engineering”), THC Engineering Holdings, LLC (“THC Holdings”, and collectively with THC Engineering, “THC”), and the unitholders of THC (the “Unitholders”), pursuant to which the Company will acquire 100% of the issued and outstanding units of membership interest (the “Units”) of THC (the “Transaction”).

In consideration for the Transaction and pursuant to the terms of the Definitive Agreement, the Company will issue 3,734,208 common shares in the capital of the Company (the “Consideration Shares”) to the Unitholders pro rata in proportion to their holdings of Units at the time of closing (“Closing”). Further, the Unitholders shall pro rata receive fifteen percent (15%) of net revenue derived from the Company licensing solely the intellectual property rights owned by THC throughout North America for a period ending three (3) years following Closing.

In addition, subject to completion of certain technological milestones, the Company may issue additional common shares in the capital of the Company (the “Technology Shares”) to the Unitholders pro rata in proportion to their holdings of Units at Closing having an aggregate value of USD$2,750,000.

The Consideration Shares and Technology Shares, as applicable, will be subject to escrow and/or resale conditions as required by applicable securities laws and the policies of the Canadian Securities Exchange (the “CSE”).

The Transaction remains subject to certain closing conditions including, without limitation: (a) the receipt of all necessary corporate and regulatory approval; (b) each party’s representations and warranties in the Definitive Agreement being true and correct in all aspects as of the date of Closing; and (c) each party meeting its terms and conditions and completing its covenants and obligations as contained therein. There can be no assurance that the Transaction will be completed as proposed or at all. Closing of the Transaction is expected to occur on or about April 15, 2021.

None of the securities to be issued pursuant to the Transaction have been or will be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and any securities issued pursuant to the Transaction are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Rule 506(b) of Regulation D and/or Section 4(a)(2) of the U.S. Securities Act and applicable exemptions under state securities laws. In addition, the securities issued under an exemption from the registration requirements of the U.S. Securities Act will be “restricted securities” as defined under Rule 144(a)(3) of the U.S. Securities Act and will contain the appropriate restrictive legend as required under the U.S. Securities Act.

About Icanic Brands Company, Inc.

Icanic Brands Company, Inc. is a leading cannabis branded products manufacturer based in California & Nevada, the largest and most competitive cannabis markets in the world. The company’s mission is to make cannabis safe and approachable – that starts with manufacturing high-quality products delivering consistent experiences.

For more information, please visit the company’s website at: www.icaninc.com.

About Ganja Gold

Ganja Gold, Inc., a wholly-owned subsidiary of Icanic Brands Company, Inc. (CSE: ICAN, OTCQB: ICNAF), is the premier brand of infused pre-rolls in the state. Ganja Gold focuses on using only the best available flower and concentrates with state of the art proprietary technology to create connoisseur level pre-rolls unseen in the marketplace. With our flagship Tarantula™, Ganja Gold continues to set the bar in quality and experience.

For more information about Ganja Gold, visit their website at www.ganjagold.com

ICANIC BRANDS COMPANY INC.

Per: “Brandon Kou”
Chief Executive Officer

For further information about Icanic Brands, please contact the Company at:

Email: [email protected]
Phone: (778) 999-4226

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

FORWARD LOOKING STATEMENTS:

Completion of the Transaction is subject to a number of conditions, including receipt of appropriate regulatory approvals. The Transaction cannot close until all such conditions are satisfied. There can be no assurance that the Transaction will be completed as proposed or at all.

Certain information in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the failure to satisfy the conditions of the relevant securities exchange(s) and other risks detailed from time to time in the filings made by the Company with securities regulations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

Ryan Allway

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.


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Source: https://www.cannabisfn.com/icanic-brands-enters-into-definitive-agreement-to-acquire-thc-engineering/

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