Katelyn Baker
Well-Known Member
Anyone who doubted the soundness of the advice offered by Mr Delano Seiveright to marijuana growers in Jamaica, to look beyond mere farming of ganja, should avail themselves of some of the latest developments in the cannabis industry in the United States.
Just two days ago, a release published by NetworkNewsWire revealed that the cannabis industry in the US, buoyed by an estimated US$7 billion in transactions last year, is lobbying for the removal of marijuana from the list of Schedule I drugs, which includes heroin, ecstasy and LSD.
Gaining that federal reclassification, they argue, would see massive benefits trickling through to reach cannabis-related product manufacturers.
In addition, the release stated that 10 prominent lawmakers are pressing for banking reform to allow cannabis and related businesses access to financial services. So far, the group has asked the Financial Crimes Enforcement Network to issue clear guidance on the matter in order to make it easier for the industry to access banking services.
According to the release, the industry has been described as the fastest growing, in recent years, in America where 28 states have so far legalised marijuana for medical and/or recreational purposes. In fact, last September Bloomberg News reported that the legal cannabis industry in the US may grow to US$50 billion in the next decade, expanding to more than eight times its current size.
The NetworkNewsWire release also told us that research firm Cannabiz Media has revealed that the marijuana industry went into 2017 with more than 4,300 cultivators, over 2,500 producers, 3,300 dispensaries, and almost 4,000 retailers across the United States.
"The numbers are expected to grow significantly in light of the recent vote by eight more states to legalise medical or recreational marijuana use. Driven by this impressive growth, the industry will look to make a bigger impact this year, primarily by gaining federal acceptance," the release stated.
It also noted that, while it may take four to eight years to gain federal acceptance, experts have said that the tide is in favour of the industry and, ultimately, the Government will likely adhere to the wishes of the American majority.
However, they do admit that President Donald Trump, who they said spoke in favour of the industry while he was campaigning, is yet to make his official position known.
Another bit of interesting information in that news release relates to a profitable California-based company called Convectium that, they say, has created the world's first oil-filling machine focused on the cannabis industry. That machine, we are told, is capable of filling and packaging up to 100 cartridges or disposable vape pens within 30 seconds for wholesale distribution to dispensaries.
"The company forecasts revenues for 2017 at US$3.5 million, which would be a 150 per cent increase over revenue of US$1.4 million for 2016," the report stated.
All that in just one jurisdiction where the marijuana industry is being developed.
Mr Seiveright, who is a director of the Cannabis Licensing Authority (CLA), therefore knows that locally we need to treat the marijuana industry as a serious business. Let's hope he will use his position on the CLA to push that agenda and ensure that Jamaica captures its fair share of this industry.
News Moderator: Katelyn Baker 420 MAGAZINE ®
Full Article: Sound Ganja Advice From Mr Seiveright
Author: Staff
Contact: 876-926-7655
Photo Credit: None Found
Website: Jamaica Observer
Just two days ago, a release published by NetworkNewsWire revealed that the cannabis industry in the US, buoyed by an estimated US$7 billion in transactions last year, is lobbying for the removal of marijuana from the list of Schedule I drugs, which includes heroin, ecstasy and LSD.
Gaining that federal reclassification, they argue, would see massive benefits trickling through to reach cannabis-related product manufacturers.
In addition, the release stated that 10 prominent lawmakers are pressing for banking reform to allow cannabis and related businesses access to financial services. So far, the group has asked the Financial Crimes Enforcement Network to issue clear guidance on the matter in order to make it easier for the industry to access banking services.
According to the release, the industry has been described as the fastest growing, in recent years, in America where 28 states have so far legalised marijuana for medical and/or recreational purposes. In fact, last September Bloomberg News reported that the legal cannabis industry in the US may grow to US$50 billion in the next decade, expanding to more than eight times its current size.
The NetworkNewsWire release also told us that research firm Cannabiz Media has revealed that the marijuana industry went into 2017 with more than 4,300 cultivators, over 2,500 producers, 3,300 dispensaries, and almost 4,000 retailers across the United States.
"The numbers are expected to grow significantly in light of the recent vote by eight more states to legalise medical or recreational marijuana use. Driven by this impressive growth, the industry will look to make a bigger impact this year, primarily by gaining federal acceptance," the release stated.
It also noted that, while it may take four to eight years to gain federal acceptance, experts have said that the tide is in favour of the industry and, ultimately, the Government will likely adhere to the wishes of the American majority.
However, they do admit that President Donald Trump, who they said spoke in favour of the industry while he was campaigning, is yet to make his official position known.
Another bit of interesting information in that news release relates to a profitable California-based company called Convectium that, they say, has created the world's first oil-filling machine focused on the cannabis industry. That machine, we are told, is capable of filling and packaging up to 100 cartridges or disposable vape pens within 30 seconds for wholesale distribution to dispensaries.
"The company forecasts revenues for 2017 at US$3.5 million, which would be a 150 per cent increase over revenue of US$1.4 million for 2016," the report stated.
All that in just one jurisdiction where the marijuana industry is being developed.
Mr Seiveright, who is a director of the Cannabis Licensing Authority (CLA), therefore knows that locally we need to treat the marijuana industry as a serious business. Let's hope he will use his position on the CLA to push that agenda and ensure that Jamaica captures its fair share of this industry.
News Moderator: Katelyn Baker 420 MAGAZINE ®
Full Article: Sound Ganja Advice From Mr Seiveright
Author: Staff
Contact: 876-926-7655
Photo Credit: None Found
Website: Jamaica Observer
