This are some of the local cannabis news from this past few days to help you keep up to date with this dynamic industry:
Cannabis Cultivation Case Against Former Mayor Dismissed
In a surprising turn, prosecutors dismissed the case against Scott Robertson, the former mayor of Winnebago, Minnesota who was charged with illegal cannabis cultivation.
The charges stemmed from a year-long investigation into a commercial greenhouse owned by Robertson, where 240 cannabis plants were found. However, the prosecution couldn’t prove the case beyond a reasonable doubt, leading to its dismissal.
Robertson’s attorney highlighted issues with the search warrant and noted that the plants had not yet flowered. This means that they did not contain any THC. Robertson, who stepped down as mayor amid the charges, expressed relief that the ordeal is over. The former mayor now looks forward to returning to farming, reported Fox9.
Sunland Park Becomes New Mexico’s Fourth Leading City In Cannabis Sales
Sunland Park, New Mexico, has risen to the fourth spot in cannabis sales statewide, reaching over $84.7 million. The city’s success is attributed to its strategic location near El Paso and Juarez where cannabis remains illegal in both cities.
Mayor Javier Perea noted that the city is already investing in community development using the financial gains from cannabis legalization, reported KVIA.
Get Benzinga’s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter here. If you’re serious about the business, you can’t afford to miss out.
Michigan Marijuana Prices Hit Record Low In July
In July, marijuana prices in Michigan dropped to a record low. The average price was $79.70 per ounce, according to the Michigan Cannabis Regulatory Agency. Despite the price drop, the state saw its second-largest sales month since adult-use legalization. Sales added up to $286.4 million, reported Crain’s Detroit.
Factors contributing to the price decline include oversupply, price compression due to upcoming “Croptober” harvests and competition with illicit market products. The influx of both outdoor and indoor-grown cannabis is driving prices down. Meanwhile, growers and processors aim to clear out last year’s inventory.
Minnesota Vetting Final Applicants For Cannabis License Lottery
The Minnesota Office of Cannabis Management (OCM) is in the final stages of vetting applicants for its cannabis business social equity lottery.
After receiving over 3,000 applications, 2,307 were verified for social equity. Of those, 1,817 applied for license preapproval. The OCM is now processing these applicants. Available slots are 282.
Once vetting is complete, a lottery will be scheduled and applicants can stay updated via the OCM website, reported Fox9.
The OCM also released a draft of proposed rules for the state’s cannabis industry, inviting public feedback
Cover: IA generated image
