Marijuana Business Magazine August 2019

Marijuana Business Magazine | August 2019 34 Minnesota The state’s two medical marijuana companies, Leafline Labs and Minnesota Medical Solutions, lost a combined $2.4 million in 2018, continuing the losses that have marked the state’s program since it began in 2015. Leafline Labs reported a net income loss of $1.8 million in 2018, and Minnesota Medical Solutions, which turned its first profit in 2017, fell back into the red with a $610,000 loss last year. But executives from the two companies say recent legislative changes will make it easier for them to write off business expenses, buy hemp from local farmers and open new dispensaries around the state. Missouri Medical marijuana business applicants can start applying for Missouri’s MMJ program Aug. 3. Missouri is required by law to approve at least 60 commercial growers, 86 facilities that manufacture marijuana-infused products and 192 dispensary licenses (24 for each of Missouri’s eight congressional districts). Sales are expected to start early next year. Montana At least two political campaigns are underway in Montana to get recreational marijuana ballot measures before state voters in 2020. One of the two campaigns, MontanaCan, had filed its ballot measure with the secretary of state as of June 28. The other, Coalition 406, which is backed by national cannabis advocacy group Marijuana Policy Project, is still drafting its measure. Nevada Gov. Steve Sisolak signed legislation to create a Cannabis Compliance Board and also prohibit local governments from licensing social consumption businesses. The social use ban was particularly bad news for entrepreneurs in Las Vegas, where the City Council had approved an ordinance to create social consumption licenses. The social use provision expires in July 2021, leaving the state without such venues for up to two years. Industry Developments | International & United States