MJIN NEWS Report: Two Marijuana Stocks Suspended Temporarily by SEC
On May 19, 2017, the U.S. Securities and Exchange Commission announced the temporary suspension of two marijuana stocks that trade on the OTC Markets, with both orders of suspension related to the companies neglecting to provide accurate and up-to-date information.
The SEC has suspended trading of Eco Science Solutions, Inc. (OTC:ESSI), a Hawaii-based alternative wellness tech company, from May 22 to June 5. The suspension is the result of a questionable press release issued by Eco Science Solutions on May 5 regarding the company’s announcement that it had signed a letter of intent to acquire Ga-Du Bank, Inc., with the bank aiming to potentially provide banking services to the marijuana industry.
The SEC has suspended trading of the Holy Grail Company (OTC:HGRL), a manufacturer and distributor of Holy Grail Hemp Lifestyle products based in Temecula, Calif., from May 22 to June 5 for a lack of company information made available to the public, particularly regarding the company’s controlling interests.
Full report at link above
Harris Bricken Cannabis Blog: Cannabis Case Summary: An Arizona Appeal for PTSD Patients
Lawsuit: Cannabis grower sues Expo New Mexico officials
ALBUQUERQUE, N.M. — A medical cannabis grower filed a federal lawsuit this week alleging that Expo New Mexico officials violated the firm’s free-speech rights by barring a wide variety of items from a booth at the 2017 New Mexico State Fair.
Ultra Health Inc., which owns a growing facility in Bernalillo, filed the lawsuit in U.S. District Court of New Mexico alleging that restrictions placed on the firm would prevent it from displaying photos or drawings of marijuana plants, or equipment used to cultivate or process the plants.
Ultra Health this year applied for an informational booth at the 2017 New Mexico State Fair that would include “education materials on the medicinal and economic benefits of cannabis,” the lawsuit said.
Expo New Mexico officials in May sent Ultra Health an email containing a list of prohibited items, including anything used to grow or manufacture cannabis, or images of plants, the lawsuit said.
The State of Marijuana in Texas After the 2017 Legislative Session
At the close of the 2017 legislative session, marijuana remains illegal to produce, possess, use or sell in Texas. While cities like Dallas have moved to implement cite-and-release policies, which allow police to send people holding marijuana home with a court summons, the state maintains its stiff penalties for drugs.
This year, however, legislators on both sides of the aisle made progress toward loosening and removing those restrictions. While Texas Gov. Greg Abbott won’t have any bills coming across his desk in 2017 to reform the state’s marijuana policies, there are signs that he or his successor might get an opportunity to do so in 2019. With an eye toward what’s coming, let’s take a look at how several marijuana bills performed this session.