Planned pot plantings for Winchester Canyon Road raised objections from the city of Goleta in 2019, as the county finalized its cannabis rules, with the city pleading for a mile between crops and homes. Now that a cannabis farm just outside the city’s borders has received county approval, Goleta has signaled his intention to appeal the project.

The applicant, White Light Cannabis Cultivation, plans to plant 17 acres of cannabis at 222 Winchester Canyon Road, both in nurseries and outdoors. The 349-acre property sits approximately half a mile from the Winchester Canyon and Winchester Commons neighborhoods along the west side of Cathedral Oaks Road, and it has registered cannabis odor complaints in 2019 and 2020. The canyon is also known for the occasional drift of hydrogen sulfide, a gas which is “extremely flammable” and “highly toxic” and whose effects “can occur even at low concentrations,” said Peter Imhof, planning director of the town of Goleta.

Hydrogen sulfide (H2S) has a strong rotten egg smell because of the sulfur it contains. Dangerously, the human nose quickly adapts to the smell, which has resulted in fatalities in industrial refineries from accidental releases. The property held permits related to oil and gas well exploration in the 1980s, and the last high-profile hydrogen sulfide release from Goleta in 2016 was attributed to an agricultural well being drilled in Winchester Canyon. People up to Ellwood Bluffs, about a mile and a half away, got sick and reported headaches and nausea.

Although White Light has offered to add H2S monitors to the cannabis farm, the city believes the monitors are inadequate and that an environmental impact report specific to this property is needed.

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To accommodate the hundreds of ongoing cannabis projects, the county has drafted a Programmatic Environmental Impact Report, or PEIR, to cover them all as it prepares its land use regulations for cannabis, that do not set any buffer between homes and properties zoned AG-II. Imhof observed that the county PEIR considered all AG-II plots to be away from residential uses; However, he said, “this project is next to a large existing residential area.” He added that “continued drought can exacerbate H2S odors with less readily available groundwater and a need to pump from deeper sources and / or for longer periods.”

In addition to the smell of H2S, the project’s odor reduction plan only affects its drying and processing buildings, Imhof said. The odors are also believed to come from sources other than produce, argues the city, as well as nursery and waste storage areas. Traffic impacts were another feature of the project that was not adequately addressed for this area of ​​the PEIR, he said, which only offered a “one size fits all†condition for management. of transport demand.

Discern who owns what is opaque in the world of land use, as partnerships form, dissolve and are frequently renamed. The cannabis applicant for canyon ownership is Winchester LLC, according to County Planning records. The LLC shares an address with Paul Garrett, a name that appears on the property’s permit file dating back to 2003; Garrett is a Temecula-based real estate investor. The claimant, who is locally represented by private developer Jay Higgins, did not respond to requests for comment.

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The marijuana industry is upside down, there is no doubt about it. When it comes to legalization, everything is skyrocketing and headed for the moon. And then, when nothing has happened and growth investors are bored and look away, cannabis stocks seem to crash quickly. This is what is happening now, with the Horizons Marijuana Life Sciences ETF fall of more than 15% in just three months. It’s a bizarre situation, especially given the industry‘s long-term growth potential.

But investors shouldn’t be put off, as the recent downward spiral in stock prices simply means that there are attractive investments in cannabis today. Three of the most promising to examine are Jushi Holdings (OTC: JUSHF), Village Farms International (NASDAQ: VFF), and MariMed (OTC: MRMD).

1. Jushi Holdings

What I love about Jushi Holdings is that the company operates in some of the most attractive cannabis markets in the country. These markets include Illinois, Massachusetts, Nevada and California, where Jushi has operational dispensaries and where potty is legal for recreational use. However, most of its dispensaries (16) are in Pennsylvania, which has yet to legalize recreational pot.

Additionally, Jushi owns a cannabidiol store in New York City – a state that recently legalized adult marijuana and could be one of the hottest new markets of 2022.

Jushi is not overly aggressive in his growth and chooses the locations of his stores carefully. In October, it only opened its 26th store nationwide. By comparison, the multistate operator Truly has over 100 locations just in the state of Florida.

And Jushi’s strategy has paid off for the company. For the period ending June 30, sales of $ 47.7 million increased 15% from the prior period and the company reported profit of $ 4.8 million, more than 10% of its turnover. Marijuana growers generally struggle with profitability, and the fact that Jushi is already there is impressive.

Jushi’s stock has fallen over 24% in the past three months, but I think the decline is unwarranted. Given its growth potential in some strong markets, it may only be a matter of time before Jushi takes off.

2. Village farms

Normally I wouldn’t put a cannabis company that operates in Canada on a list like this. And that’s because the market is so saturated – there are over 700 licensed producers in Canada, so you don’t wonder why marijuana companies love it. Aurora Cannabis and Canopy growth fight profitability and generate constant revenue growth.

But what makes Village Farms special is its low-cost cannabis greenhouse that it operates through its subsidiary Pure Sunfarms. For 11 consecutive quarters, Pure Sunfarms posted positive earnings before interest, taxes, depreciation and amortization (EBITDA). And it is the best-selling brand of dried flowers in several provinces (based on data at the end of June). Focusing on dried flowers is key to the company’s strategy, as it encompasses over two-thirds of retail pot sales in Canada.

If you’re a little worried about investing in Canadian pot stocks, Village Farms may be the safest route to take right now, as it’s still primarily a production business. North America, with operations in Canada, the United States and Mexico. In the first six months of 2021, Village Farms reported more than $ 42 million in revenue from its cannabis operations (Pure Sunfarms), but the bulk of its revenue came from product revenue, which s ‘amounted to $ 80 million.

Village Farms shares are down 18% in three months and their shares have not traded this low since November 2020.

3. MariMed

MariMed is another multi-state operator to put on your watchlist. Like Jushi, MariMed is not running a very large operation at the moment. It has only seven operational dispensaries, including four in Illinois, one in Massachusetts, and two in Delaware.

The company reported its last earnings on Aug. 16, when sales for the period ending June 30 totaled $ 32.6 million and were up 239% year-over-year. Increased production in Massachusetts helped improve results, as did the growth of its retail outlets. What is impressive is that MariMed reported net income of $ 7.6 million on these revenues, which is a profit margin of over 23%.

During the quarter, the company also generated positive cash flow from operations totaling $ 10.8 million. Not only does MariMed generate profits, but it accumulates cash that can facilitate more growth opportunities in the future.

MariMed shares have fallen about 3% in the past three months, the smallest loss on this list. The company is in a strong financial position, and with MariMed still in the early stages of its growth, now is a good time to add it to your portfolio.

Payday loans are one of the easiest loans to get, but they’re also manipulative. In case of urgent need for money, there is no doubt that you will be able to obtain a loan quickly. However, if you are not careful, you may find yourself trapped in an endless cycle of debt. Your debt term will last much longer due to the huge interest rate you will pay on your loan. You can also continue a particular loan more than once to avoid a repayment burden.

Quick access, on the other hand, is an expensive habit, and the amount you use to repay these loans will keep you from regaining your footing.

If you fail to arrange for a payday loan, your credit score could be affected and it will then be very difficult for you to apply for a loan in the future.

In the event that you are locked into a cycle of high debt, there are alternatives available that can prevent you from being trapped in the cycle of debt. Acting quickly can help you reduce your expenses and get better and more attractive financing terms.

Can borrowers avoid the debt trap when using payday loans?

It’s hard, but not impossible.

We have come up with ways you can simply stop the debt trap when using a payday loan.

1. Establish a contingency fund for unexpected expenses:

Until you accumulate assets, put in place a good investment strategy to meet your emergency fund needs.

There are several investment options available to you, such as insurance plans, etc., which can help you in an emergency and save you from having to take out this loan.

2. Reduce expenses:

There are times when you will have no choice but to apply for a payday loan due to an unforeseen emergency, and that’s understandable; nevertheless, if you develop a practice of frequently taking out payday loans to satisfy your unreasonable needs, your budgeting will require considerable attention. Be conservative with your budget, cut the budget and only buy what you really need.

3. Make a long-term plan:

Set up emergency savings and contribute to them on a consistent schedule. You must take inflation into account and be absolutely sure that your funds will be sufficient to cover future needs. Improve your credit score to qualify for cheaper loans from lending institutions. This will surely reduce the possible need for payday loans in the future.

4. Request a loan from a new lender:

If your payday loan is piling up and you still don’t want to be trapped in the same cycle of debt, you can apply for a loan from a new lender other than payday lenders. To obtain a private loan, you can contact various official lenders in your vicinity.

You can also choose to consolidate your debts. You can also apply for a loan from another lender to settle your payday loan.

If your credit score is one of the things that bothers you, you can ask a friend or family member to take out the loan on your behalf. People close to you who also have a great credit history may be able to help you get a loan to pay off your payday loan and end the debt trap.

5. Consult your payday loan institution

Those who give out payday loans will always want to get a refund. Therefore, if you let the payday lenders know that you are having trouble repaying the loan, they might be able to generate a particular solution that benefits both parties. These lenders may allow a debt settlement strategy or give you a longer payment term to accommodate your financial situation. In any case, you will have no problem repaying your personal loan in a short time.

6. Seek help from relatives and friends.

Your relatives and friends are the ones you can just turn to when you need help. However, now is a good time to visit them. Find out if you can borrow money from them in order to stop the debt trap of payday loans. You can simply assure them that you will pay back in no time, they should be able to understand your current situation. Your relatives or friends might not even charge you interest on the loan they give you.

7. If you have a reserve fund, put it to good use.

Using your savings or investments for emergency purposes can be a great idea if you have some set aside for that purpose. However, stopping your payday debt trap will also allow you to avoid the high interest that comes with the loan. You will be able to collect your rescue money quickly. If possible, spend some of the money to give yourself some breathing room while you wait for additional sources of income to settle your payday loan debt.

8. Seek professional assistance

You should keep in mind that it is necessary for you to seek expert help if you are unable to achieve positive results despite following any of the measures outlined above. There are several credit counseling agencies available to help you with your payday loan debt. They will contact the lender and work with you to find a way to settle the debt. Seeking professional assistance will definitely go a long way in stopping the debt trap when using a payday loan.

In conclusion

The tips provided above will surely help to stop the debt trap when using payday loans. Do not forget that it is quite possible to stop the debt trap when using a personal loan.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes

Prosecutions for possession of cannabis for personal use in Ireland have almost halved over the past year, according to figures from An Garda Síochána.

he number of people charged or summoned for simple possession of cannabis until mid-December 2021 has decreased significantly from the previous year, largely due to offenders being given a warning instead of a warning. appearance in court.

The numbers show that Ireland is on a global shift towards drug decriminalization.

Malta made history in mid-December when it became the first country in Europe to allow limited cultivation and possession of cannabis for personal use, following a vote in parliament.

It should be followed by a wave of similar plans across Europe, with Luxembourg due to give the green light to a comparable measure.

Several other countries, including Germany and the Netherlands, are also on the verge of adopting a more lenient approach to cannabis possession.

Garda figures show 11,127 prosecutions in Ireland for possession of cannabis in 2020, but the figure had fallen to 5,957 for 2021 through the week ending December 14.

Gardaí attributes the main reason for the reduction in prosecution to the addition of possession of cannabis and cannabis resin for personal use to the adult warning program at the end of 2020.

Caution is administered in a guard station where there is evidence of the commission of an intended criminal offense and prosecution of the offense is not required in the public interest.

New figures also reveal number of prosecutions for cultivation of cannabis plants or opium poppy in Ireland fell from 197 in 2019 to 310 in 2020. Prosecutions for the sale and supply of cannabis in Ireland fell from 1,968 cases in 2020 to 1,283 in mid-December 2021.

Prosecutions for importing or exporting cannabis in Ireland peaked at 16 in 2020, while there were less than 10 incidents relating to 2021.

Uruguay was the first country in the world to legalize the production and sale of marijuana, while it is legal for recreational use in many states in the United States.

Cannabis is the most widely used illicit drug in Europe and the world, according to the European Monitoring Center for Drugs and Drug Addiction.

In its most recent report this year, the European Union agency said regulatory responses are also becoming more variable and complicated, as several countries allow the availability of cannabis products under certain circumstances for therapeutic purposes. , and some suggest the tolerance of certain forms of recreational consumption. .

“While most health and social issues remain focused on illicit cannabis use, it becomes a more complex area in terms of definition and response,†he said.

The report states that cannabis use can lead to or worsen a range of physical and mental health, social and economic problems. He said cannabis use is highest among young adults and the age of first cannabis use is lower than most other illicit drugs.

It is estimated that around 16 million young Europeans between the ages of 15 and 34, or around 15% of this age group, have used cannabis in the past year, with the figure rising to around 20% in the age group. ages 15 to 24.

He pointed out that cannabis use is often experimental, usually lasting only a short period in early adulthood.

But the report added that a minority of people develop more persistent and problematic consumption patterns, with these problems associated with regular, long-term, high-dose cannabis use.

These issues can include poor physical health, such as chronic respiratory symptoms, and mental health issues such as cannabis addiction and psychotic symptoms.

Social and economic problems were also mentioned due to poor school performance, failure to complete education, decreased performance at work or involvement in the criminal justice system.

When: July 14, 2021 at 12:00 p.m. – 1:00 p.m. PT / 2:00 p.m. – 3:00 p.m. CT

Where: Online

Cannabis in the Midwest is expected to grow at a breakneck pace in what is widely considered to be one of the hottest markets over the next 12-18 months. A market in which operators juggle complex regulatory, operational and financial obstacles. These industry players seek to make sense of the uncertainties that will undoubtedly come with the next evolution of cannabis in the Midwest, while focusing on short and long term profitability, fundamental strength and expansion.

This free webinar will provide financial strategies, regulatory updates and unique market insights into the Midwestern cannabis industry. In our 45-minute panel (followed by a 15-minute Q&A), a panel of industry experts will provide insight into the Midwestern cannabis landscape, discuss market trends, and share key considerations for successful growth. .

Topics include:

• How Chicago became a cannabis capital and what makes the MidWest special?
• Market trends and recent regulatory developments
• Data-driven insights and consumer behavior
• Key financial considerations in optimizing operational strategies
• What will US legalization, interstate commerce, and legal import / export mean for the Midwest?

Loudspeakers:

• Sarah McGuire, Partner, MGO
• Jessica Lukas, Senior Vice President of Business Development, BDSA
• Eric Berlin, partner, Dentons

Moderated by Javier Hasse, CEO of Benzinga Cannabis and CEO of El Planteo.

We invite you to register here.

Why participate

According to Lukas, 72% of adults in the Midwest are either current cannabis users or open to cannabis use.

The BDSA predicts that legal sales in the Midwest will be around $ 3 billion this year, rising to around $ 6 billion in 2026, when they will represent 15% of total legal cannabis sales in the United States.

She adds that Michigan and Illinois are and will remain the “powerful” states of the Midwest, in the top 10 states for legal cannabis sales until 2026.

McGuire continues: MGO is seeing a growing number of Midwest clients preparing for M&A activity. However, she notes that “acquirers are more selective in their targets and strive to focus on greater efficiency by strengthening their presence in their core geographic footprint.”

Finally, Berlin stresses that the Midwest is of crucial importance for cannabis.

“It contains two major states of adult use, and Chicago is the headquarters and roots of many of the nation’s largest MSOs, including GTI (OTC: GTBIF), Cresco (OTC: CRLBF), Verano (OTC: OTC: VRNOF), Columbia Care (OTC: CCHWF), Pharmacann and Grassroots – now Curaleaf (OTC: CURLF), ”he says.

“I want everyone to understand how Chicago became the Silicon Valley of cannabis and the future of cannabis in the Midwest,” he concludes.

About MGO LLP

One of the top 100 CPA firms in the country, MGO has provided reliable accounting and consulting services to many leading public companies, private companies and government agencies for 30 years. MGO was one of the first national accounting firms to develop and provide targeted accounting and consulting services to the cannabis and hemp industries. Today, MGO offers cutting-edge experience and a suite of proven solutions to help operators, regulators and institutional investors navigate the complexities of the cannabis and hemp industries. For more information, visit MGO.

About Benzinga

What is Benzinga.com? Benzinga is a content ecosystem that makes it easy to consume information. Our mission is to connect the world with the news, data and education that facilitate the path to financial prosperity for everyone, every day. From breakouts to unusual volumes, analysts’ ratings, futures and options, Benzinga is the leading full-service one-stop-shop for investors of all backgrounds and styles.

About BDSA

BDSA helps companies improve revenues, reduce innovation risks, and prioritize market expansion through accurate and actionable cannabis market insights, consumer research, and strategic advice. The company provides a holistic understanding of the cannabis market by generating insights from point-of-sale data, consumption studies, and market-wide industry projections. Retailers, manufacturers, brands, wholesalers and investors can now make better strategic decisions that drive profitability, increase revenue and market share, and reduce expenses. BDSA is headquartered in Boulder, Colorado. To learn more, please visit bdsa.com.

About Dentons

Dentons is the world’s largest law firm, connecting top talent to the challenges and opportunities of the world with 20,000 professionals, including 12,000 lawyers, in over 200 locations, in over 80 countries. Dentons’ multidisciplinary cannabis team provides vital expertise and knowledge to help business owners and stakeholders seize any opportunity and overcome any challenge. Our capabilities and experience are second to none, from providing strategic legal advice and ongoing regulatory compliance, to advice on entity formation and corporate governance, to advice to companies from start-up to start-up. ‘Initial Public Offering. For more information about Dentons, please visit https://www.dentons.com.

About El Planteo

El Planteo is a medium focused on green and youth issues such as cannabis, hemp, psychedelics, music, ecology, cryptocurrencies, gender and sexuality issues, etc. Our content has frequent economic or financial angles.

El Planteo is funded by Benzinga, a dynamic and innovative Detroit-based financial medium that provides unique, high-quality content for investors coveted by top Wall Street traders.

Key theme AND F transmitter AND F Group of managers SARL (ETFMG®) announced the launch of a new fund in its lineup of cannabis ETFs, the ETFMG 2x Daily Reverse Alternative Harvest AND F. MJIN is designed to seek daily leveraged investment results, before fees and expenses, of twice the inverse (-2x) (or inverse) of the performance of the Prime Alternative Harvest Index, offering investors access to the global cannabis ecosystem and directly benefiting medicinal and recreational legalization initiatives.

“The launch of MJIN marks another first in the market for ETFMG and complements our full range of cannabis investment offerings, â€said Sam Masucci, CEO and founder of ETFMG. “We are a one-stop-shop for investors looking to capitalize on the global and US cannabis sectors.”

MJIN is ETFMG’s fourth cannabis exchange-traded fund. He joins the ETFMG Alternative harvest AND F (MJ) – the first cannabis listed in the United States and the largest in the world AND F – as good as ETFMG American Alternative Harvest AND F (MJUS) and the ETFMG 2x daily alternative harvest AND F (MJXL). The fund also joins the company’s line of 2x daily leveraged ETFs, which are structured to provide investors with short-term and amplified exposure to high-growth themes already offered by ETFMG.

“Investor interest in the cannabis sector has continued to increase as the industry has grown thanks to strong fundamentals and the growing prospect of legislative reform. While most investors are primarily focused on capturing the long-term potential of the cannabis industry, many are looking for a short-term trading vehicle to help hedge, from time to time, the downside volatility that can occur. support investment in an emerging sector. . As the cannabis industry continues to grow and diversify, so should its investment options. It is a privilege to be able to offer cannabis investors a full range of investment options, including the ability to gain long or short exposure to the sector, â€said Jason Wilson, banking and research expert at cannabis at ETFMG.

Kris Manaco, Managing Partner and Co-Founder of Prime Indexes, said: “We are proud to extend our relationship with ETFMG by launching another essential investment product for the cannabis industry. ETFMG’s new fund strengthens the Prime Alternative Harvest Index as a key benchmark for investors in a sector that is still in its infancy.

For more news, information and strategy visit AND F Tendencies.

About ETFMG®

ETFMG is a provider of exchange-traded funds (ETF), founded in 2014 with a vision of developing innovative thematic ETFs that provide investors with unique exposure to new markets. Today the ETFMG The range of funds provides access to a diverse collection of global themes and is made up of 75% leading products. We transform portfolio management strategies into successful ETFs by partnering with market segment experts to provide long-term growth opportunities for investors. ETFMG funds are proof of the power of AND F wrapper and that thematic products can have their place in investors’ portfolios. To learn more about ETFMG and our portfolio of exchange traded funds, please visit www.etfmg.com.

Carefully consider the investment objectives, risk factors, fees and expenses of the Fund before investing. This and other information can be found in the Fund’s statutory and summary prospectus, which can be obtained by calling 1-844-383-6477, or by visiting www.etfmg.com/MJIN. Read the prospectus carefully before investing.

Investing involves risks, including the possible loss of capital. Actions of everything AND F are bought and sold at market price (not NAV), can be traded at a discount or a premium for NAV and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Closely targeted investments tend to exhibit higher volatility. Possession and use of marijuana, even for medical purposes, is illegal under federal and some state laws, which can negatively impact the value of the Fund’s investments. The use of marijuana is regulated by both the federal and state governments, and federal and state laws regarding marijuana are often in conflict. Even in states where the use of marijuana has been legalized, its possession and use remains a violation of federal law. Federal law criminalizing the use of marijuana prevails over state laws that legalize its use for medicinal and recreational purposes. Cannabis companies and pharmaceutical companies may never be able to legally produce and sell products in the United States or other national or local jurisdictions.

Invest in a ETFMG 2x daily and reverse leveraged AND F may be more volatile than investing in broadly diversified funds. The use of leverage by a AND F increases the risk for the AND F. The ETFMG Daily Leverage and 2x Reverse ETFs are not suitable for all investors and should only be used by sophisticated investors who understand the risk of leverage, the consequences of seeking out leveraged investment results. daily leverage or daily reverse leverage and intend to actively monitor and manage their investment as often as possible. Daily.

The use of derivatives such as swaps is subject to additional risks which may lead to price fluctuations over time and include the effects of composition, market volatility, leverage risk, risk associated with trading techniques. aggressive investment, counterparty risk and intraday investment risk. Please consult the summary and the full prospectus for a more complete description of these and other risks associated with investing in the Fund.

The Fund’s investments will be concentrated in one industry or a group of industries to the extent that the Index is so concentrated. In such a case, the value of the shares of the Fund may rise and fall more than the value of the shares of a fund that invests in securities of companies from a wider range of industries. The consumer staples industry may be affected by the authorization to use various components of products and production methods, marketing campaigns and other factors affecting consumer demand. Tobacco companies, in particular, can be affected by new laws, regulations and litigation. The consumer staples sector may also be affected by changes or trends in commodity prices, which may be influenced or characterized by unpredictable factors.

The Fund is intended to be made available only to residents of the United States. Under no circumstances is the information provided on this website intended for distribution or use by, or to be an offer to sell or a solicitation of an offer to buy the Fund or any investment product or service of , any person or entity in a jurisdiction or country, other than the United States, where any such distribution, use, offer or solicitation would subject the Fund or its affiliates to any registration requirement or be illegal under laws on securities of that jurisdiction or country.

The Fund is distributed by ETFMG Financial SARL. AND F Group of managers SARL and ETFMG Financial SARL are wholly owned subsidiaries of Exchange Traded Managers Group SARL (collectively, “ETFMG“). ETFMG is not affiliated with Prime Indexes.

The Fund is intended to be made available only to residents of the United States. Under no circumstances is the information provided on this website intended for distribution or use by, or to be an offer to sell or a solicitation of an offer to buy the Fund or any investment product or service of , any person or entity in a jurisdiction or country, other than the United States, where any such distribution, use, offer or solicitation would subject the Fund or its affiliates to a registration requirement or be illegal under the laws of securities of that jurisdiction or country.

See the source version on businesswire.com

(The Center Square) – A key Republican senator has expressed support for the legalization of recreational cannabis in Pennsylvania as a way to reduce pressure on the criminal justice system and increase funding for state police.

Senate Law and Justice Committee Chairman Mike Regan R-Dillsburg wrote in a editorial Monday that he circulated a co-sponsorship note to authorize adult use statewide and direct a portion of the $ 1 billion planned tax revenue to support state policing.

“Our law enforcement agencies and our justice system have neither the manpower nor the time to deal with these minor marijuana-related offenses that clutter our courts and produce little return,” he said. -he declares. “Instead, police and prosecutors must focus on protecting our residents from violent criminals and large-scale drug importers who also sell heroin and fentanyl, who kill thousands of Pennsylvanians each. year.”

The idea offers a long-term solution to a funding problem that has plagued the legislature for years – how to break the agency’s reliance on transfers from the Motor License Fund, which is intended to fund the maintenance of roads and bridges.

In 2020, lawmakers embezzled more than $ 800 million from the account to supplement state policing as the Pennsylvania Department of Transportation grapples with rising maintenance costs and launched a unpopular interstate bridge toll plan to close the gap.

Regan said his plan eliminates this need while building a solid infrastructure “that will lead to more job creators and entrepreneurs to invest in Pennsylvania’s economic future.”

The proposal would also address the application of the DUI for cannabis users, protect the possession of firearms “regardless of one’s choice” to use the drug, establish a new regulatory control board, develop educational programs that deter the use of minors and would provide “social equity, inclusion and assistance to companies entering the industry.”

Regan, who spent more than two decades serving in the US Marshals Service, said he has seen first-hand the “seriousness of illicit drug use,” but believes that legalizing recreational cannabis will not only alleviate it. pressure on law enforcement, but will bring additional benefits to the state. successful medical program serving 365,000 active patients.

Regan’s editorial does not mention any component of restorative justice that erases non-violent beliefs – unlike one measure presented by Sens. Dan Laughlin, R-Erie, and Sharif Street, D-Philadelphia, in February. Both senators have expressed interest in running for a statewide post, with Street considering an offer for the US Senate and Laughlin eyeing the governor’s mansion.

Governor Tom Wolf first expressed his support for recreational cannabis in 2019 as his second in command, Lieutenant Governor John Fetterman, embarked on a statewide tour to discuss the politics with residents. On Monday, Wolf tweeted that he was “doing everything to legalize adult marijuana use in Pennsylvania.”

“For me to sign, the bill must include efforts to restore justice for Pennsylvanians who have been over-punished for marijuana-related offenses,” he said. noted.

Regan’s bill is the second Republican-backed plan presented to the upper house this year, signaling a shift among party members long opposed to politics.

VSannabis is federally illegal in the United States. This makes it difficult for Canadian companies to expand into the market. But that hasn’t stopped domestic players from extending their roots. Even with a limited legal market, U.S. cannabis companies are thriving as state legalization continues to intensify. Among them, based in Illinois Cresco Laboratories (OTC: CRLBF), with a market cap of $ 2.1 billion, is making its way into the list of top competitors in the cannabis business.

Although Canopy growth (NASDAQ: CGC) is a solid company and also a bigger one (with a market cap of $ 5.3 billion), there are other factors to consider before investing. Let’s take a look at which pot stock is the right one to put your money in right now.

Image source: Getty Images.

The case of Cresco Labs

With 40 dispensaries in 10 states, this jar stock is getting all the attention. This vertically integrated multi-state operator has steadily increased revenue by targeting key cannabis markets like Pennsylvania, Illinois and Ohio which offer limited licenses. These states cap the number of licenses they issue and the number of stores that can operate in a state. This allowed Cresco to build a loyal following for its popular brands like Mindy’s Edibles, High Supply, etc. which contributed to its $ 101 million just through retail revenue in its second year. quarter ended June 30. Illinois, a rather new recreational market (legalization in January 2020), is experiencing exceptional sales.

The company’s total revenue was $ 210 million, a whopping 123% year-over-year increase. Cresco also reported second quarter net profit of $ 2.7 million, up from the huge loss of $ 41 million in the prior year period. Cresco expects to generate total revenue of $ 1 billion by the end of 2021, with gross profit margins exceeding 50% in the next two quarters.

We’ll know more about Cresco’s plan for this year and beyond when it releases its third quarter results on November 11.

The case of Canopy Growth

Canopy Growth, a reputable name in the cannabis arena, is making investors skeptical due to its lag in profitability. The company is increasing its income, but the growth is not sufficient to generate profits. Net sales for its first quarter (ended June 30) were C $ 136 million, an increase of 23% year-over-year. The company has experienced strong growth in the Canadian recreational and medical markets. Awning wide range of cannabis derivatives (additional recreational products that Canada legalized in October 2019) has been a hit with consumers, driving recreational sales.

Financially, Canopy is in a secure position for now mainly because Constellation brands the support. The U.S. beverage giant partnered with the company in 2018 and owns a 39% stake in Canopy after exercising its warrants. He ended the second quarter with $ 2.1 billion in cash and short-term investments.

But unless Canopy starts making a profit, that backup might not be able to keep it any longer. The company’s international cannabis revenue fell 8% year-on-year to C $ 19 million in the first quarter due to coronavirus lockdowns in many countries. The US market is still a long shot for the company. Meanwhile, Canopy can use its global presence (Europe, Africa and South America) and its strength in Canadian markets to grow revenues and generate profits. Management affirmed in the first quarter results that the company is on track to accelerate revenue growth and achieve positive earnings before interest, taxes, depreciation and amortization (EBITDA) by the end of fiscal 2022. It succeeded in reducing its EBITDA loss to C $ 64 million, compared to $ 92 million in Q1 2021.

Which pot to choose?

Between these two, Cresco Labs is the more secure option. Canopy offers many opportunities in the US market due to Constellation’s presence in the market, but when federal legalization takes place, domestic companies will be the first to benefit. In addition, Cresco Labs is already profitable, while Canopy is still struggling to achieve positive EBITDA. Cresco Labs is a safe option for investors who want to grow their money. Growth is not impossible for Canopy, but it could take some time. Considering all the positives of Cresco Labs this is the best cannabis stocks to buy now for the long term.

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Cannabis legalization is sweeping across North America – 15 states plus Washington, DC, have all legalized recreational marijuana in recent years, and full legalization arrived in Canada in October 2018.

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Sushree mohanty has no position in any of the stocks mentioned. The Motley Fool owns stock and recommends Constellation Brands and Cresco Labs Inc. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

“I can guarantee you’ve never been in a culture like this,” said Lloyd Owens, 65, the company director who owns part of the business and operates it with his son. , Jack Owens. “This is the craziest growth you…have ever been.

Aquaponics is a common method used to grow more forgiving vegetables, like lettuce, but rare in the marijuana world, Lloyd Owens said.

The efficiency of aquaponics makes economic sense. There is much less waste. The need for expensive fertilizers and custom-made, nutrient-rich soil becomes obsolete. The water in the 10,000-gallon system is reused, but the upfront costs are so high and the science so complex that most investors avoid aquaponics, the Owens said, using more proven soil-based culture instead. but wasteful. methods.

“Basically, that’s about $80 worth of fish food per month versus tens of thousands of dollars in chemicals each month,” Lloyd Owens said. “The other thing is: all these other shoots, they’re wasting all this water.

“We eliminated all the media, because our media is reusable, we eliminated all the fertilizer, and the fact that we don’t have to transplant and that, we minimized our employees… We had the even water in these reservoirs for about a year and a half.

Aquaponics uses the symbiotic relationships between bacteria and animal waste to produce nutrient-rich water that is absorbed by the hanging roots of thirsty plants.

In the case of Thumb Genetics, thousands of blue Nile tilapia of varying ages swim through dark waters in 4-foot-tall blue tanks. Older larger ones have safety nets suspended above their pools to thwart the occasional suicidal leap to the concrete below.

“We had a few suicide bombers,” Lloyd Owens said.

The fish eat. They digest. The nutrients in their feces leach into the water which is filtered through a series of white PVC pipes into various pools covered in bacteria and slime algae, with a pit stop in a water tank of 1,200 gallons filled with red wiggler worms that further refine the H2O in the sludge that collects at the bottom before the cleansed and invigorated water is pumped into the grow rooms and eagerly sucked in by hundreds of growing plants under bright lights.

“You never run out,” Jack Owens said. “You recirculate your water and the plants are constantly feeding and grabbing all the nutrients they want from that water.”

A few years ago, Lloyd Owens took a road trip to Pennsylvania and picked up buckets with hundreds of tiny “fry” fish from a breeder. They are no longer small.

“We have four tanks, about 1,600 fish in total,” Lloyd Ownes said.

Each tank is approximately 1,200 gallons and the fish are divided according to size and age.

The breed is chosen, in part, because they won’t breed, as long as the water temperature is kept below 82 degrees, but they grow too old to serve their purpose: to poop frequently.

“We have different life cycles right now,” Jack Owens said, and points to a tank with larger fish approaching 1.5 pounds. “We can probably keep them for another six months, but they’re definitely getting to the size where they’re not pooping as often as the little ones.”

Once they are about two years old, their digestion is not conducive to the aquaponics system which is constantly transforming and recycling. Fish relieve themselves in higher volumes, but do so less frequently.

They all started small, as “fingerlings,” the Owens said. So far, they have avoided any serious illness. Aside from losing a few to death falls on the ground, larger tilapias eating their smaller brethren, or males eager to chase females to death exhaustion, the shoals have mostly remained in good health.

The company hasn’t had to renew the fish stock, but when it does, the Owens hope to one day be able to donate fish to the needy for meals.

“When we’re at full scale, we anticipate around 20,000 meals a year that we can donate to the homeless,” Lloyd Owens said. “We are not in the fish business. I will not get a license to sell fish.

In the meantime, as the company grows, retired fish will likely be harvested and shared with employees.

Lloyd Owens kicks on his plastic prosthetic right leg hidden under blue jeans. He stepped into a hole while jogging, “broke it in half”, he said, contributing to his eventual amputation at the age of 35. A series of other ailments led him to marijuana for pain relief.

He limps slightly and leans against the cinderblock walls to relieve his prosthetic leg whenever the opportunity arises.

Jack Owens turned to marijuana after suffering a ‘real bad’ concussion while playing goalie for the Davenport University football team in Grand Rapids in 2008, the same year the Michigan voters have legalized medical marijuana.

Agriculture is in their blood. Lloyd Owens grew up in rural Madison County, Illinois. His first job was to work in a nursery. Coincidentally, the nursery used aquaponics.

“It was my first paid job,” Lloyd Owens said as he passed ponds of fish recently fed into his marijuana grow op. “I was 15 and it turned out to be a big deal.”

He studied biology at Southern Illinois University and after his amputation returned to college, earning a degree in prosthodontics from Northwestern University. This career path led the family to transplant to Michigan, where Lloyd Owens worked in the prosthetics industry for two decades.

With the advent of medical marijuana, the Owens became caregivers, allowing them to grow marijuana on a small scale. Even then they began to flirt with the idea of ​​aquaponics, but the size of the culture did not make it economically feasible.

In 2017, they decided to upgrade and applied for a medical cultivation license. They finally started operations in August 2020 after building the former Walmart distribution warehouse in which the company currently resides.

There were originally over 30 investors among the Owens’ family and friends.

“It’s been an adventure for us to get here,” said Lloyd Owens. “There is a large group, but not a real cash group, just a group of average citizens who have pooled our money to do this.”

The 43,500 square foot warehouse, just under an acre, is nestled among a series of other growth companies in connected industrial warehouses.

Lloyd Owens opens a metal door leading to the concrete loading dock used for deliveries. The cold rushes inside. He climbs the steel grate stairs and opens a door on the roof and points to the next building. It is also a licensed crop, which uses soil.

See all those air conditioners, he says. There are dozens of them. It draws attention to its side of the roof. It’s naked.

“This culture next to us is exactly the same size as ours,” he said. “And it’s the air conditioning needs that are increasing and his electric bill is about $40,000 to $50,000 a month. Mine hasn’t reached $8,500 yet.

Lloyd Owens said his facility uses three air conditioners. This is the nature of a water-based culture system. Water helps cool down. If a grow gets too hot, microbes are attracted, the marijuana can become contaminated and invaded by pests.

When asked why, if Thumb Genetics’ aquaponics system is so much more efficient, others don’t copy their style, Lloyd Owens said it was a matter of upfront cost and expertise. .

“The initial costs are three to four times higher,” he said. “So that comparable growth could probably be done for about $1 million, a million and a quarter. It cost about $4 million.

Jack Owens said it was also craftsmanship. “There are not enough scientists,” he said. “It is very difficult to keep plants living in the same water for so long. You can make lettuce in 30 days, but when you make marijuana, it’s a lot longer.

The Owens are planning a massive expansion in the coming years. Aquaponics, more than traditional methods, is about the long term. Once the higher initial expenses are paid, the profitability of the system should allow the business to thrive.

“As the price of marijuana goes down, you better cut your operating costs, and that’s the lowest operating cost for any marijuana,” Lloyd Owens said.

The aquaponics method allows Thumb Genetics to reduce the growing cycle by approximately one week, which becomes significant on a large scale. Another characteristic of Thumb Genetics marijuana that they believe will set it apart for years to come is that it is organic. Other growers use pesticides or methods that are not considered organic.

“It’s going to be federally legal,” Lloyd Owens said. “It’s only a matter of time, and cleaner marijuana will be more valuable to the bigger players who get into it.”

Currently, Thumb Genetics operates approximately three grow rooms with 250 plants each that produce approximately eight ounces of marijuana each every eight to 12 weeks, depending on the strain.

They have dozens of strains they created as caregivers and continue to breed as the new company grows. Their primary client is Edgewood Wellness, a medically licensed dispensary at 134 E. Edgewood in Lansing

“He’s probably going to have to retire soon, because he’s getting older,” says Jack Owens of his father. “So the plan is to take that model and copy it across the state in new buildings, and then venture into every other state as well.”

Before crossing state lines, there is still plenty of room for expansion in their current building. As they walk through the largely empty warehouse, Jack Owens points to beams and walls, explaining the vision. They are planning ten new grow rooms, which would expand their cultivation from 3,500 allotted plants to nearly 6,000 plants.

In one of the grow rooms. Three employees wearing hygienic scrubs and slippers tend to the plants.

Lloyd Owen points to a woman wrapped in greenery.

“Look at that girl over there, she’s my daughter,” he said. “My wife is at a seminar with the accountant right now.

“It’s a real family affair.”