Tag: Michigan

First Black-owned ‘Detroit legacy’ cannabis dispensary opens

March 20, 2023 · MetroTimes

City of Detroit officials are celebrating the opening of the first adult-use cannabis dispensary that is part of a social equity program designed to ensure that Black residents are represented in the legal marijuana industry. Nuggets Cannabis, a Black-owned family business, opened this weekend at 18270 Telegraph Rd. “This doesn’t happen everywhere,” Deputy Mayor Todd Bettison said. “We fought to ensure legacy Detroiters have an opportunity to grow businesses in the cannabis industry, which has had a disproportionately negative impact… Read more.

$80 Ounces in Michigan and $4 Grams in Oregon – How Low Can You Go Is a Marijuana Industry Problem

March 20, 2023 · Cannabis.net

The 2023 Recreational Marijuana Supply and Demand Legislative report from the Oregon Liquor and Cannabis Commission states that per-gram cannabis prices in Oregon have decreased by 16% from the previous year, reaching an all-time low of $4. According to the OLCC, the market demand for marijuana in Oregon was estimated to be 52% of the supply in 2021 and 63% in 2022. Despite the deteriorating market conditions, 2022 was closer to achieving supply/demand equilibrium than 2021. This was due to OLCC Producers… Read more.

Allen Iverson: ‘Cannabis Changed My Thought Process, I Believe In Plant Medicine’

March 18, 2023 · Benzinga

“I started smoking cannabis in college. During my sophomore year,” discloses NBA legend Allen Iverson. “Entering my rookie year, I got a hold of something quite strong, and that changed my thought process around smoking.” Now a weed connoisseur, Iverson has joined forces with Al Harrington’s Viola Brands to launch a line of cannabis products and merchandise under The Iverson Collection name. But it wasn’t always smooth sailing in the marijuana world for Iverson. In fact, the athlete was arrested for pot possession back in 1997.… Read more.

Michigan Cannabis Flower Price Drops to $80 Per Ounce

March 15, 2023 · Ganjapreneur

Cannabis flower prices per ounce have fallen in Michigan from $152 in January 2022 to $80 in January 2023, WOOD-TV reports. Benham Wrigley Jr., an attorney with CannaLex law, attributed the price decline to “oversupply.” According to a Crain’s Detroit Business report, there are five Michigan cannabis companies that have been placed under receiverships in the state. A receivership is a court-appointed tool that can assist creditors in recovering funds in default and can help troubled companies avoid bankruptcy.   SKYMINT, which has 24 dispensaries in Michigan and has entered into… Read more.

Ferndale decriminalizes magic mushrooms and other psychedelics

March 1, 2023 · Detroit Metro Times

Welcome to the magic mushroom club, Ferndale. We’re glad to see you. On Monday evening, Ferndale City Council unanimously approved a resolution to decriminalize entheogenic plants and fungi like psilocybin mushrooms, Ayahuasca, and Dimethyltryptamine (aka DMT). This doesn’t mean these psychedelic substances are completely legal, but the “investigation and arrest of persons for planting, cultivating, purchasing, transporting, distributing, engaging in practices with, or possessing Entheogenic Plants or plant compounds which are on the Federal Schedule 1 list shall be the… Read more.

Michigan Suspends Processor’s License for Using Illicit Cannabis in Production

February 26, 2023 · Ganjapreneur

Cannabis regulators in Michigan have suspended the medical and adult-use cannabis business licenses of TAS Asset Holdings after discovering the company was adding unregulated cannabis to its products. Michigan regulators have suspended the medical and adult-use cannabis licenses of TAS Asset Holdings after it found its products were combined with unregulated cannabis product before being sold in the regulated market.  The affected products were marketed under the “Fwaygo Extracts” brand and produced between November 10, 2022, and November 17, 2022. … Read more.