Marijuana Business Magazine May-June 2019

Marijuana Business Magazine | May-June 2019 32 Massachusetts Regulators in the Bay State are scrutinizing whether cannabis companies Acreage Holdings and Sea Hunter Therapeutics violated Massachusetts limits on how many marijuana business licenses a single entity can own. The investigation comes on the heels of a report fromThe Boston Globe that questioned whether the two companies controlled an excess of licenses through complex business networks, high-interest loans and other methods. Michigan State regulators permitted roughly 50 unlicensed medical marijuana dispensaries to remain open past a March 31 deadline, in compliance with a judge’s decision. The state’s Bureau of Marijuana Regulation said in a statement that “until further order of the court,” it wouldn’t enforce the deadline against the temporary operating facilities. Missouri Regulators in the state will license more medical cannabis businesses if the first wave of more than 300 doesn’t satisfy demand. Lyndall Fraker, medical marijuana program director for the Missouri Department of Health and Senior Services, said the state is willing to take any necessary steps to provide adequate supply to patients. However, a new economic study conducted by the University of Missouri predicts the state will need only 24 to 29 medical marijuana cultivators and 114 to 132 dispensaries to meet patient demand. The study predicts demand will fall far below expectations. Nevada A group of Nevada marijuana businesses has sued the state, alleging a recent recreational marijuana licensing round wasn’t transparent and was “ripe for corruption.” Six lawsuits have been filed since the state issued 61 provisional licenses in December without disclosing the identities of the license winners or the scoring criteria. A state Senate panel wants to open up the process. New Hampshire The state House of Representatives approved a full-fledged adult-use marijuana legalization bill, sending the measure to the Senate for its consideration. The legislation would tax cannabis cultivators at 5% and retailers at 9%. Industry Developments | International & State