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ARMADAIn the days of the Armada, a fleet of warships, the scuttlebutt was the rumor or gossip that would spread throughout the ship. Today, Armada Law Corp presents The Scuttlebutt, a daily summery of news articles that people within the cannabis, hemp and plant medicine industries are chatting about along with links to the full articles.
In today’s news:
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#cannabisindustry – “New York regulators have eliminated marijuana testing limits for contaminants bacteria, mold and yeast after outdoor cannabis cultivators complained that the original rules were too restrictive.
The Office of Cannabis Management (OCM) emailed growers earlier this week saying it had updated its laboratory testing limits to remove the pass and fail limits for products that weren’t made via extraction, including flower and pre-rolls, according to The (Syracuse) Post-Standard’s NY Cannabis Insider.”
#cannabisindustry – “A Nevada federal judge ordered a CBD company fighting with its co-founder over who should pay a $5 million tax bill to resolve the issue in arbitration, saying federal laws and contracts the parties signed require it.
The decision to order arbitration and close the case, issued Thursday, denied a request by CV Sciences Inc. for summary judgment against its ousted co-founder Michael Mona Jr., who claimed the company stuck him with the bill when it failed to withhold taxes from his stock package.”
#psychedelic – “While some may be tempted to offer the Sonoran Desert toad a kiss, the National Park Service urged visitors to leave the potentially deadly amphibians alone….
It might appear strange that anyone would be tempted to lick an amphibian outside of a fairy tale, but this particular toad has been in high demand, according to a New York Times report this year.
People have exploited the toad’s toxin as psychedelic, smoking it to experience euphoria and hallucinations, according to the Oakland Zoo.
The toxin is a defensive measure from the toad, and it can be deadly to other animals, including dogs, according to the Arizona-Sonora Desert Museum.”
This is an example of what goes on your label matters….
#productliability – “A California federal judge won’t let YummyEarth Inc. escape a suit alleging its organic fruit snacks mislead consumers into thinking they contain real fruit, finding that the complaint sufficiently alleges that the labels violate federal labeling requirements.
In an order filed Thursday, U.S. District Judge Vince Chhabria gave the go-ahead to Jennifer Marino’s proposed class suit, saying the labeling for the products in question “clearly” doesn’t comply with U.S. Food and Drug Administration regulations based on allegations in the complaint.
In the suit, Marino said she relied on the labeling of YummyEarth’s products — which include depictions of various fruits and advertise vitamin content — and bought them based on the belief that they were made from and contain real fruit.”
#cannabisindustry – “Retail cannabis sales in the U.S. are projected to exceed $33 billion by the end of 2022. As the industry continues to boom, retail landlords have increased opportunities to diversify their retail spaces by leasing to cannabis tenants. However, with these new opportunities come unique challenges and important considerations landlords should address as they prepare to lease to tenants in this new sector of the market.”
https://www.jdsupra.com/legalnews/so-you-want-to-rent-to-a-cannabis-8797363/
#californiacannabis – “In August last year, Santa Ana-based Unrivaled Brands acquired a small retail chain, People’s California, which owned three operational cannabis shops and two additional retail permits in Southern California that hadn’t yet been built out at the time of the deal.
The deal, worth $76 million in a mixture of cash and stock, closed in November 2021.
But in July 2022, People’s California filed a nearly 300-page lawsuit against Unrivaled in Orange County Superior Court for breach of contract, alleging that Unrivaled had not been making monthly payments that it agreed to under the terms of the agreement. The acquisition terms called for $24 million in cash at closing, along with 40 million shares of Unrivaled – worth $16 million at the time – and another $36 million in cash to be paid in monthly installments….
In September, Unrivaled filed its own 387-page countersuit, alleging in turn that it was People’s California and its executives who were in the wrong, and accused People’s executives of fraud, negligence, and breach of contract.
Specifically, Unrivaled alleged that People’s executives Frank Kavanaugh, Jay Yadon, and Bernard Steimman stole at least $5 million from Unrivaled “through backdated accounting entries and write-offs” in the People’s company books.”
#cannabisindustry – “On Tuesday, voters in Arkansas, Maryland, Missouri, North Dakota and South Dakota will decide whether to legalize cannabis for adult recreational use, while Colorado — a pioneer in cannabis legalization — will decide whether to decriminalize and regulate certain psychedelics.
The majority of legalization efforts during this midterm cycle have come about through voter-led ballot initiatives, which reformers say have been tailored to fit the laws and norms in each of the states as well as survive a potential legal challenge from legalization opponents.”
#californiacannabis – “The deal, which grants 1,363,654 shares of Hightimes voting common stock to the Moxie organization, includes Moxie’s 11,000 sq. ft. manufacturing facility as well as 46,000 sq. ft. of flowering canopy cultivation, which is capable of producing up to 3,500 lbs of dry flower and more than 25,000 lbs of fresh frozen cannabis for High Times and its associated branded products per year.
As part of the transaction, the deal also includes an exclusive 99-year license to use the Moxie, MX and HighNow brands in California.”
