The marijuana industry will “continue to grow,” a federal economic committee said in a new series of recommendations, and that means steps need to be taken to ensure that it’s tracked more diligently under a system that enables analysts to follow markets and publish statistical data.
In proposal published in the Federal Register last week, the White House Office of Management and Budget (OMB) described policy recommendations for the 2022 update of the North American Industry Classification System (NAICS), which is used to categorize businesses and compile data on markets across the U.S, Mexico and Canada.
The suggestions include a proposal to move cannabis retailers out of a miscellaneous category and index them separately under a new category where they will be grouped with tobacco, e-cigarette and smoking shops. There were further recommendations on indexing cannabis, hemp and CBD agriculture and wholesaler companies into specific NAICS categories as well.
Read more from Marijuana Moment.
Florida Cannabis Festival returns to Mount Dora in November
Mount Dora is about to get conspicuously mellow once again as the Florida Cannabis Festival returns in early November.
For a second year, Renninger’s Twin Markets will be host to the Festival, assembling a small army of vendors, along food options, live music and cannabis advocacy.
Currently, there are 200 vendors scheduled to table over that weekend.
Live Active Culture’s Seth Kubersky went to last year’s inaugural event and took a bundle of photos to give you a taste of the action.
Read more from Orlando Weekly.
Florida-based Trulieve acquires Harvest, creating nationwide cannabis empire
The $2.1 billion acquisition of Harvest Health & Recreation by Florida cannabis behemoth Trulieve Cannabis Corp. has finally been consummated, creating the largest marijuana company in the U.S., with a combined 149 dispensaries and operations in 11 states.
Harvest has 39 operating shops in five states, including one in Tucson at 2734 E. Grant Road, and was the first operator to sell adult-use marijuana in the state after the Arizona Department of Health Services gave the green light to legal sales in Arizona on Jan. 22.
“We are excited to move forward as part of Trulieve,” Harvest co-founder and CEO Steve White wrote in a recent email to the Weedly. “The combined organization has the resources and talent to continue expanding access to cannabis and deliver outstanding customer experiences.”
Read more from Inside Tucson Business.
Miami-based Amazonas Florestal, Ltd. announces acquisition of Colombia Dreams Marijuana (CDM)
MIAMI, Fla. — Amazonas Florestal, Ltd. (OTC:AZFL) advised its shareholders today that a Memorandum of Understanding has been completed and signed for the acquisition of 51% of the total issued and outstanding shares of Colombia Dreams Marijuana (CDM), a Colombian company based out of Ciénaga, Magdalena. CDM is fully licensed in Colombia and dedicated to the cultivation, product manufacturing and distribution of High-CBD Hemp and Medical Marijuana flower, and its many derivative products. Formal acquisition agreements will be signed this week.
Since 2016, CDM (www.cdmcolombia.co) has focused primarily on the research and development of home grown hybrid cannabis plant genetics, keeping the company a step above its local competition. The company has developed hybrid genetics that are testing to some of the highest cannabinoid content levels found anywhere in Colombia.
CDM breeds several strains of hybrid genetics, producing an active fully licensed femenized seed bank in several promising strains and then utilizing the home bred seeds to further develop super mothers and clones customized to the local climate and other environmental factors for their cultivation outdoors. These unique genetics have positioned CDM to become an important supplier of original top-shelf cannabis products that include: Medical Marijuana and High-CBD flower, high cannabinoid content oils, standardized and femenized seeds, food supplements, pain balms, creams, lubricants and cosmetics.
AZFL CEO Ricardo Cortez stated: “I am thrilled to make this announcement as we continue to take important steps towards establishing our company as a leader in the industry with focus on gaining a market share of the emerging markets here in South Florida and overseas. Colombia is an incredibly biodiverse country that possesses the most favorable climate, PH in the water and soil, natural irrigation systems and the perfect light, temperature and humidity mix—mother nature’s kitchen at its finest. These elements are the foundation that make these unique Colombian strains of the highest quality and chemical content found anywhere and the Colombian cannabis crops a step above most of the rest of the world.”
Cortez further expressed: “CDM has built an experienced management team, own all of the most important licenses and production farms and have an active agreement with the National University of Colombia that allows for industry-leading scientists to form part of their research and development team.”
“At CDM we had for some time now been searching for an organization that shares our common vision for the future of the cannabis business in Colombia. I am confident that our combined efforts with the AZFL team will result in the production of innovative cannabis products in Colombia that in turn will develop interesting global markets,” said CDM’s CEO Jairo Danilo Moreno.
Moreno went on to say, “CDM’s production centers are located in Guamo, Tolima and Sierra Nevada de Santa Marta where some of the world’s best cropping locations for cannabis are found with historically proven results. Our properties are in the same region where during the 1970s, Colombia became the largest exporter of native Marijuana strains to the world markets that were not covered then by the laws and regulations that our country has in place today—and has completely legalized the activity.”
About Amazonas Florestal Ltd.
Amazonas Florestal, Ltd.—headquartered in Miami, FL—is a natural resources company dedicated to the research and development of innovative products and projects to process Industrial Hemp into legal cannabinoid concentrations that include High CBD, THC-Free and Delta-8 products. The company also promotes the sustainable management of large tracts of land in the rainforest state of Amazonas, in Brazil, and sustainable projects that promote the certification and sale of carbon credits from the registered preservation of rainforest properties in areas that UN studies reveal to be in danger of extinction.
In 2017, the company shifted gears to concentrate their efforts on growing, harvesting and research and development of Industrial Hemp and related derivative products in the U.S.A. for market both domestically and internationally. In 2021, the company is building a state-of-the-art high CBD Hemp extraction facility in Miami, FL The laboratory titled Green America Laboratories is dedicated to the production of premium bulk T-Free cannabinoid concentrates. Amazonas Florestal’s goal is to become a leader in the field of cannabinoid extractions, serving labs in the USA and overseas that use these distillates as raw material for human and animal health/wellness and beauty products.
Disclaimer: Forward Looking Statements
Forward-looking statements in this release regarding Amazonas Florestal Ltd. are made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the company’s products, increased levels of competition, new products and technological changes, the company’s dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the company’s periodic reports filed with the Securities and Exchange Commission.
Amazonas Florestal Ltd.