STATE

Title: Former federal prosecutor buys California’s first legal cannabis

Author: Greenstate.com

Date: 1 January 2018

URL: http://www.greenstate.com/news/former-federal-prosecutor-buys-californias-first-legal-cannabis/

Extract: In one of the many surprises from the launch of commercial cannabis sales in California on Jan. 1 was the backstory of the first buyer.

A former federal prosecutor turned legal mastermind of the marijuana industry named Henry Wykowski bought the Golden State’s first legal bag of marijuana. 

 Wykowski paid $20.01 cash for a gram of Neville’s Purple at 6 a.m. on Jan. 1 at the Oakland dispensary Harborside. He didn’t wait in line for hours, either. He’s Harborside’s tax attorney, so the purchase opportunity was a sort of gift from client to counsel for years of effective service.

Not only did cannabis prohibition end in California with a former federal attorney buying marijuana, but Wykowski did it in the very building he saved from federal asset forfeiture.

 Wykowski is one of the world’s top cannabis attorneys and specializes in complex white collar litigation like federal asset forfeiture and tax cases.

 

Title:  Cannabis Czar Lori Ajax Interviewed Ahead of the ICBC in San Francisco

Author: ICBC

Date: 3 January 2018

URL: https://internationalcbc.com/cannabis-czar-lori-ajax-interviewed-ahead-of-the-icbc-in-san-francisco/

Extract: Question: The initial rules for California cannabis businesses are now out, how has the feedback been thus far?

Lor Ajax: So far things have been good. I think people realize the initial regulations are a starting point. We welcome continuing feedback about how things are working as the state begins regulating cannabis businesses starting January 1.

Of course, the California marijuana market needs to satisfy the needs of Californians, but have there been any lessons that you have learned from other legalized states that have impacted some of the initial rules?

Ajax: We were fortunate to learn from the other states that have legalized medicinal and adult-use cannabis prior to legalization in California. An important lesson is that many of these states are continually making changes to their regulatory systems to address requirements that may not work as intended or new emerging business models. Even though we have our emergency regulations in place, in early 2018 we will begin the regular rulemaking process, which includes public hearings across the state and a longer comment period.  

You decided to issue temporary licenses, what was the thought process behind that?

Ajax: Due to the aggressive timeline to issue licenses by January 1, 2018,

 

FINANCE

Title: Marijuana Stocks Soar As California Legalizes Recreational Pot

Author: Fortune

Date: 2 January 2018

URL: http://fortune.com/2018/01/02/marijuana-stocks-california-recreational-weed/

Extract: Companies in the cannabis industry have added nearly $2 billion in value since California dispensaries started to legally sell recreational marijuana on Jan. 1.

Heartened by the reportedly long lines outside Californian dispensaries and a possible wave of legalization in other states, shares in cannabis-related firms soared Tuesday. Canada-based Canopy Growth rose 9%, Vancouver-based Aurora jumped 24%, U.K.-based GW Pharma popped 2%, Ontario-based Aphria grew 8%, Canadian firm MedReleaf climbed 27%, Toronto-based Cronos Group advanced 5%, and while another Canadian company Canntrust increased 5%.

 

Title:  New Marijuana ETF Ablaze As California Legalizes Retail Sales

Author: Forbes

Date: 2 January 2018

URL: https://www.forbes.com/sites/trangho/2018/01/02/new-marijuana-etf-ablaze-as-california-legalizes-retail-sales/#5194b0907f57

Extract: Marijuana stocks skyrocketed on the first trading day after California legalized retail sales, unleashing the largest legal market in the country. Thanks to the new California marijuana laws allowing recreational use for people ages 21 and up as of Jan. 1, imbibers are bombarding dispensaries. Lines snake around the block as if Apple just released a new iPhone.

The new marijuana ETF that rolled out only one week prior — ETFMG Alternative Harvest ETF — blasted 9%. It’s up 18% in just one week. Its Canadian counterpart with many overlapping holdings, Horizons Marijuana Life Sciences ETF, lit up 12%.

 

Exchange-Traded Cannabis Fund Sees Gains in Wake of California Legalization

 

LAKEPOINT CITY

Title:  Lakeport City Council gives final approval to commercial marijuana ordinance

Author: Lake County News

Date: 3 January 2018

URL: http://www.lakeconews.com/index.php/news/53838-lakeport-city-council-gives-final-approval-to-commercial-marijuana-ordinance

Extract: The Lakeport City Council started off the new year by finalizing an ordinance to govern commercial marijuana activities in the city.

The half-hour meeting on Tuesday night dealt primarily with the new ordinance and with mayoral appointments on a variety of committees and boards.

Following a brief discussion, the council gave unanimous approval to the second and final reading of the ordinance governing commercial operations for marijuana, or cannabis. The ordinance and its accompanying staff report begin on page 13 of the agenda packet below.

 

MERCED COUNTY

Title: Weed is legal in California. But this is why you still can’t buy it in Merced County.

Author: Merced Sun Star

Date: 2 January 2017

URL: http://www.mercedsunstar.com/news/local/community/article192574099.html#storylink=cpy

Extract: Any adults in the county can grow up to six plants indoors and are free for smoke or eat it there, but no sanctioned dispensaries exist in the county. And, the city of Merced is the only jurisdiction in the county that currently has plans to allow for dispensaries.

The Merced City Council has agreed to allow four dispensaries to sprout up in designated areas around town, as well as other cannabis-based business. Those are likely months away from opening, according to city leaders.

 

MONTEREY COUNTY

Title: First dispensary for legal cannabis in Monterey County opens

Author: The Californian

Date: 1 January 2018

URL:  http://www.thecalifornian.com/story/news/2018/01/01/legal-weed-now-available-monterey-county/994425001/

Extract: Monterey Bay Alternative Medicine in Del Rey Oaks became the first location in Monterey County to sell recreational marijuana Monday and was greeted with a line of consumers as a result.

“This has been one of those moments that we didn’t know if there would be five people waiting here this morning or 500,” said Cecilia Stock, director of Monterey Bay Alternative Medicine. “People are going to have short wait times and going to have great experiences today and that was what our number one goal.”

 

YUBA COUNTY

Title:  Yuba County to state of California: You are not protecting us from pot-related pollution

Author: Sacramento Bee

Date: 2 January 2018

URL: http://www.sacbee.com/news/state/california/california-weed/article192665729.html#storylink=cpy

Extract:  The day after California launched its first legal sales of recreational marijuana, Yuba County officials gathered on the steps of the state Capitol to criticize the state’s cannabis regulatory system, saying it is not protecting them from destructive illegal grow sites.

County Supervisor Randy Fletcher, Lt. Wendell Anderson of the Sheriff’s Office and Brent Hastey, chairman of the county’s water agency, were among the speakers at Tuesday’s press conference, which also featured photos of pesticides and other pollutants found at illegal grow sites in Yuba County.

The rally came a week after the Board of Supervisors declared a state of emergency in Yuba County because of marijuana. The board said illegal pot grows are causing environmental degradation and the county does not have the resources to stop them.