NY's $200M Cannabis Fund Inquiry, Switzerland's THC Trial, First Nations' Weed Shops & More Updates

NY Agency Fails To Turn Over Requested Documents In $200M Fund Investigation

New York’s equity-focused rollout of legal recreational marijuana relies on a $200 million Gov. Kathy Hochul pledged to support social equity applicants.

However, the Dormitory Authority of the State of New York (DASNY), which Hochul appointed to oversee the fund, still didn’t turn over the key documents as part of an investigation, reported Syracuse.

The Background

DASNY was responsible for finding a fund manager for the state’s Social Equity Cannabis Investment Fund, tasked to raise $150 million from private investors and use it - with an addition of $50 million coming from the state - to fund leasing and renovating up to 150 Conditional Adult-Use Retail Dispensaries (CAURDs).

The agency opted for Social Equity Impact Ventures’ team comprised of NBA Hall of Famer Chris Webber and entrepreneur Lavetta Willis and a team from the investment banking firm Siebert Williams Shank.

However, according to an investigation published by NY Cannabis, Webber and Willis failed to deliver on several of their claims, in addition to missing a deadline to raise $150 million by Sept. 1. Later that month, NY Cannabis Insider submitted a Freedom of Information Law request to DASNY to get ahold of documents justifying their choice of the fund manager.

To date, DASNY pushed the deadline to submit the requested files several times.

First Legal Rec Cannabis Sale Pilot Project In Basel To Launch

Switzerland opted to be among the first in Europe to launch a THC adult-use cannabis trial, reported BusinessCann.

The ‘Weed Care’ pilot program is scheduled to launch on Jan. 30, 2023, after Pure Production AG was granted renewed approval from Swiss health authorities to supply the trial. The company’s initial 30kg batch didn’t meet quality standards.

Now, following a four-month delay, the study is expected to pave the way for more recreational cannabis trials to take place across Switzerland and Europe. A few hundred people in the city of Basel will be allowed to buy cannabis from pharmacies for recreational purposes.

In 2021, an amendment to the Federal Narcotics Act came into force in Switzerland, allowing pilot trials involving the dispensing of cannabis for non-medicinal purposes.

Oregon Wants To Put An End To Illegal Cannabis Production With Tougher Laws

Oregon lawmakers are seeking a way to put an end to the illegal production of recreational cannabis, which continues to grow, even though adult-use cannabis is legal statewide, reported Oregon Public Broadcasting.

Year-to-date police have seized more than 105 tons of illegally grown marijuana, according to the Oregon-Idaho High Intensity Drug Trafficking Area task force.

Now, a draft bill for the state’s 2023 legislative session seeks to double the maximum prison sentence and fine for producing over 100 plants and possessing more than 32 times the legal limits to 10 years in prison and $250,000, respectively.

Oregonians can legally possess 2 ounces of marijuana in a public place and 8 ounces at home.

Employees Can Get Fired For Using Marijuana In South Africa

Marijuana in South Africa is decriminalized for personal use by adults in private following the Constitutional Court’s 2018 decision. However, that doesn’t mean that employees can go to work under the influence, according to the Labour Court’s recent ruling, reported BusinessTech.

Those using cannabis can lose their jobs if testing positive for weed while at the workplace, Legal experts Kerry Fredericks and Bradley Workman-Davies from Werksmans Attorneys said.

The two employees who got fired for testing positive while on duty are arbitrating commissioner’s decision on review at the Labor Court. The court found no merit to each of the grounds in the NUMSA v PFG Building Glass case.

First Nations To Oversee Its Cannabis Stores In Saskatchewan

Saskatchewan lawmakers have introduced a measure to grant First Nations more self-governance in the retail cannabis sector, reported Marijuana Business Daily.

Saskatchewan’s Cannabis Control Amendment Act, 2022 seeks to set up a legal framework for First Nations to license and regulate the distribution and sale of recreational cannabis on reserve.

“Our government supports First Nations exercising their authority over on-reserve distribution and retailing of cannabis through a legal framework with SLGA,” said Lori Carr, the minister responsible for Saskatchewan Liquor and Gaming Authority. 
Photo: Courtesy of succo, mrkukuruznik5 by Pixabay

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Posted In: CannabisGovernmentNewsRegulationsPoliticsMarketsGeneralBusinessCanncannabis regulatory updateChris WebberKathy HochulLori CarrRecreational MarijuanaSalesSocial Equity Impact VenturesSwitzerland
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