Cannabis Briefs for June 28, 2022June 28, 2022
•Following Rhode Island’s legalization of recreational cannabis last month, the state’s Department of Administration projects that sales will total approximately $41 million in the first seven months after they begin. That opening day is expected to be December 1. The state is expected to collect about $7 million in sales and excise taxes, with cities and towns garnering another $1.2 million in local tax revenue. As was recently the case in New Jersey, sales on opening day will probably be limited to existing medical dispensaries that will be cleared to serve the general public, with dedicated recreational shops arriving sometime next year.
•Curaleaf expanded its partnership with B Noble in New Jersey to bring the brand to Curaleaf retail locations. B Noble was founded by artist and rapper Fab 5 Freddy and Bernard Noble; it launched in July 2021 in conjunction with Curaleaf’s corporate social responsibility program Rooted in Good. The brand’s signature pre-roll 2-packs will now be available at Curaleaf locations in New Jersey in three different strains at launch: Azazel (sativa), Bittersweet (hybrid), and Apple Sundae (indica). The brand is now available in nine states including Arizona, Colorado, Illinois, and Massachusetts, among others.
•Major League Baseball informed teams they will be allowed to accept sponsorships from CBD companies beginning next year. The Commissioner’s Office made the distinction that sponsorships from companies producing hemp-derived CBD are allowed, but not if their products contain THC. MLB removed cannabis from its list of banned substances two years ago.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.