Cannabis Briefs for June 21, 2022June 21, 2022
•Sales of recreational cannabis in Colorado totaled $131.7 million in April, according to data from the state’s Department of Revenue. That figure is down about $8 million from the prior month but is within the general range of sales for the preceding six months and is higher than January and February’s totals. That being said, the figure is also well off of the $166.5 million of sales in April last year and even further from the state’s monthly record of $183.1 million, set in July 2020. Nonetheless sales remain above pre-pandemic levels. An additional $21.3 million went to medical sales in the state.
•Pre-roll brand Jeeter has launched in Michigan. Its product lineup includes both infused pre-rolls and vape cartridges featuring Liquid Diamonds cannabis concentrate in strains including Peach Ringz, Watermelon Zkittlez, and Thin Mint. They’re available now at more than 45 retailers around the state. Jeeter is also opening a new, 17,000 square foot headquarters in Detroit to support operations in the state. The brand launched in California in 2019.
•U.S. Attorney General Merrick Garland said his department will address issues pertaining to cannabis policy soon. Senator Brian Schatz asked if Garland planned to reinstate the Cole Memo, the Obama-era guidance that established a hands-off approach to states that have legalized cannabis, that was officially tossed when Jeff Sessions was Attorney General. In written responses, Garland said, “The Justice Department’s enforcement resources are not put to their best use prosecuting nonviolent, low-level marijuana offenses, even in jurisdictions where marijuana use remains illegal. The Department is examining a range of issues that relate to marijuana and its production, sale, and use, and we intend to address these issues in the days ahead.”
•Recreational cannabis sales in Michigan dipped to $163.2 million in May, down from $167.9 million in April. Sales of flower accounted for nearly half the total at $80.8 million, followed by vape cartridges at $35 million. Edibles accounted for $19.2 million, shake and trim for $12.8 million, and concentrates $10.5 million. The state has licensed more than 600 cannabis growers, 149 processors, and 511 retailers.
•An Illinois judge lifted a restraining order preventing 88 social equity applicants from beginning cannabis cultivation. The courts put operations on hold pending a lawsuit from applicants who weren’t selected. The complaint from those applicants is still ongoing but it will now take place through an administrative review protocol rather than a lawsuit, with the state attorney general’s office arguing that further delays would unfairly hurt those that were selected. Now those businesses can begin to prepare to join the state’s booming market.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning. You will also receive the Cannabis edition as part of your subscription.