Cannabis Briefs for April 18, 2023

•Maryland is set to begin recreational cannabis sales July 1 following the governor’s expected signature on a bill setting up the regulatory framework. Maryland voters approved recreational cannabis by a 2:1 margin on last November’s ballot. The regulations set some baseline expectations for how the industry will operate in the state, stating, for instance, that licensees of all types will be limited to four retail locations. Other stipulations include an initial 50 permits for on-site consumption lounges. Sales will be subject to a 9% tax. Recreational sales in Maryland are projected to reach into the billions of dollars within a few years.

•Los Angeles, California’s Nowadays has launched its first two cannabis-infused non-alcoholic spirits in 35 markets in the U.S. The two varieties are Micro Dose and Low Dose, with Micro coming in at 33mg of THC per bottle, with each 1.5-ounce serving containing 2mg of THC. Nowadays Low Dose comes in at 100mg of THC per bottle and 6mg per serving. The two retail for $40 and $60, respectively, and are now available through the brand’s website and in select retailers across the U.S.

•The Chicago Cubs have partnered with Mynd Drinks as their official CBD beverage. The sponsorship makes Mynd the first CBD partner of a Major League Baseball team. The deal will see Mynd featured in various in-ballpark signage including on-field baseline signage, as well as other in-game features and international marketing rights in the U.K. for the 2023 regular season. Mynd Drinks’ hemp-based CBD drinks currently come in the three flavors Elderberry Passionfruit, Orange Mango, and Lemon Ginger, available from the company’s website and at select Chicagoland retailers.

•Recreational cannabis sales in Michigan climbed to $239.9 million in March, according to the monthly report from the state’s Cannabis Regulatory Agency. Around half of that was sold in the form of flower, with $117.7 million sold. Consumers also purchased $44.7 million of vape cartridges, and $25.5 million of edibles. The continued ascent of Michigan’s market value is even more astounding when the industry’s price crunch is factored in–this record was achieved even as an ounce of cannabis has fallen to $87 in the state when two years ago it would have cost $255.

•Santa Barbara County, California-based Sunstone Estate is releasing Sunstone Spritz, a cannabis beverage. Available in four flavors—Grapefruit Orange, Peach Passionfruit, Pineapple Coconut, and Watermelon—the sparkling drinks are made with single-origin, sun-grown cannabis rosin from the company’s home county and contain 5mg of THC. Additionally, the wine brand is launching Sunstone Splash, a water-soluble cannabis emulsion meant to be added to a drink of the consumer’s choice. Sunstone Spritz is currently available DTC for delivery within Santa Barbara County, with expansion planned soon. The company is also working on opening the brick and mortar Sunstone Cannabis Market, targeting an opening early next year.

Tagged : cannabis, Chicago Cubs, Maryland legalization, Michigan sales, Mynd Drinks, Nowadays, Sunstone Estate

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