Cannabis News Update January 19, 2021
Today in the world of cannabis: The first free cannabis social equity program in the country launches in Arizona, the USDA issues federal hemp regulations two years after hemp was legalized, and Molson Coors enters the CBD market in Colorado.
The Morning Buzz presented by TRICHOMES brings you late-breaking news that tells you what’s happening within the cannabis industry.
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** First up: In a report by Cannabis Business Times, MITA, Arizona’s Cannabis Trade Association, has announced the launch of its 16-week Social Equity Applicant Mentorship Program, sponsored by Copperstate Farms, Weedmaps and Scottsdale Community College.
The free mentorship program is designed to assist social equity applicants in obtaining licenses reserved for minorities under Prop. 207. This is the first program of its kind in the country and can be used for other states to adopt their own versions.
“The industry has a greater duty to help those who will come next especially those who are in the social equity category,” said Demitri Downing, executive director of MITA.
https://www.cannabisbusinesstimes.com/article/free-social-equity-mentorship-program-mita/
** And next: Marijuana Moment reports that about two years after the 2018 Farm Bill federally legalized hemp, the USDA has finally announced finalized federal hemp regulations, to take effect on March 22, 2021. Earlier versions of federal regulations drew sharp criticism from hemp advocates and industry personnel, leading the USDA to reopen its public feedback period in September 2020.
“With the publication of this final rule, USDA brings to a close a full and transparent rule-making process that started with a hemp listening session in March 2019,” USDA Marketing and Regulatory Programs Under Secretary Greg Ibach said in a press release.
“USDA staff have taken the information you have provided through three comment periods and from your experiences over a growing season to develop regulations that meet Congressional intent while providing a fair, consistent, science-based process for states, tribes and individual producers,” Ibach said. “USDA staff will continue to conduct education and outreach to help the industry achieve compliance with the requirements.”
** Last up: In a report by Business Wire, the beer and beverage company Molson Coors has entered the CBD market with the release of its line of alcohol-free, CBD-infused sparkling water, Veryvell. The products are now available in Colorado both online and in select retail stores.
“Truss’ entry into the CBD market in Colorado and the launch of Veryvell™, a brand we believe will resonate well with Colorado consumers, is another example of Molson Coors’ expansion into new beverage categories,” said Pete Marino, president of the emerging growth division for Molson Coors.
“Each beverage in the product line offers a unique blend of CBD and adaptogens, giving consumers the freedom to pick the combination that best meets them in the moment. We are thrilled to bring our beverage expertise and commitment to quality to this emerging wellness category,” said Jane Armstrong Hockman, Truss CBD USA general manager.
Currently, Veryvell comes in three flavors: Focus (grapefruit tarragon), Mind & Body (strawberry hibiscus) and Unwind (blueberry lavender).
https://www.businesswire.com/news/home/20210113005291/en/Truss-CBD-USA-a-Molson-Coors-and-HEXO-Corp-Joint-Venture-Launches-Veryvell%E2%84%A2-Sparkling-CBD-Water-in-Colorado
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