On this week’s cannabis tour, Singapore is performing Tangaraju Suppiah to deliver cannabis; Delaware legalizes adult use of cannabis in an unusual way; Colorado announces new financing opportunities for its cannabis business; Put your best foot forward in CBD sneakers and record 420 sales for the year.
Singapore executes a man accused of trafficking cannabis
Although he was not found in possession of any cannabis, Singapore has executed a man accused of organizing a cannabis delivery. In 2018, 46-year-old Tangaraju Suppiah was sentenced to death for his role in smuggling just over two pounds of hashish. In Singapore, smuggling more than a pound of cannabis is punishable by death.
Sobia was hanged on Wednesday despite his family’s pleas for mercy and protests from activists who claimed the evidence used to convict him was insufficient. He was identified by the prosecution as the person responsible for organizing drug delivery through phone numbers. However, Suppiah insisted that he had no contact with the other people involved in the case.
UN human rights spokesperson Ravina Shamdasani called on the Singapore government to adopt an “official moratorium” on executions for drug-related offenses at a press conference on Tuesday.
“The imposition of the death penalty for drug offenses is not in accordance with international norms and standards,” Shamdasani said, adding that mounting evidence shows the death penalty is ineffective as a deterrent, a direct contradiction to Singapore’s allegations. The island nation carried out 11 executions last year alone for drug arrests.
Delaware has become the latest state to legalize adult use of cannabis
Delaware became the 22nd state to legalize adult use of cannabis on April 23 with a somewhat unusual twist: Governor John Carney didn’t sign the bills into law. Instead, the Democratic governor allowed the laws to pass without his signature because he still opposed legalization in the first term.
Governor Carney has been a staunch opponent of legalization during his six years in office, even though about 60% of his home state’s voters support legalizing adult cannabis use. However, on April 21, he issued a written statement saying that while his position remained unchanged, he would not veto a bill to legalize the use, possession, or transportation of up to one ounce of cannabis. He also said he would not veto the bill that created a regulated retail market, noting that there are more pressing issues for the state.
Governor Carney said statement. “I support both medical marijuana and Delaware’s decriminalization law because no one should go to jail for personal possession of marijuana. Today they don’t. I want to be clear that my views on this issue haven’t changed. And I understand that there are others who share my views Who will be disappointed in my decision not to veto this legislation. I’ve come to this decision because I think we’ve spent a lot of time focusing on this issue when the people of Delaware face more serious and pressing concerns every day. It’s time for a change. It’s time for a change. It’s time for a change. Time to move on.”
His inaction is a change from his veto of the legalization bill supported by other Democrats last year. The result was an unsuccessful attempt by House Democrats to override the veto.
Combined, House Bills One and Two allow adults 21 and older to have up to one ounce (28 grams) of flower or 12 grams of concentrates or products containing up to 750 milligrams of THC. Public consumption and possession of more than an ounce of marijuana are still considered offenses as home cultivation for personal use. Delaware may provide up to 30 initial retail licenses, 30 manufacturing licenses, 60 growth licenses, and 5 testing licenses. Specific license packages for social justice and small business applicants are included.
Colorado announces Landmark’s statewide cannabis loan program
Governor Jared Polis and the Cannabis Business Office (CBO) inside the Colorado Office of Economic Development and International Trade (OEDIT) announce On April 24, he released a new funding source for a licensed cannabis business in the social justice field in Colorado. The Cannabis Business Loan Program (CBLP) was created in partnership between the CBO and mission-based lender NuProject to provide financing not available to cannabis businesses through traditional lenders.
The CBLP will act as a revolving loan fund by NuProject and CBO. The interest earned on the loans will be reinvested in the fund to assist future borrowers as they are repaid. Over the next decade, the initial investment of $1 million is expected to loan $2.9 million, creating and sustaining significant jobs in Colorado.
“This historic loan program will create and retain 239 good-paying jobs and promote equity in the cannabis industry by providing growing businesses access to financing. I am committed to saving small businesses money and ensuring that our state remains a great place to start and run a business in every industry.” statement.
Traditional financing options for small businesses are usually unavailable in the cannabis industry, making it difficult for business owners to obtain capital for expansion. The CBLP will provide loans of between $50,000 and $150,000 for remodeling or expansions, the purchase of equipment or real estate or use as working capital to help bridge this financing gap. The loans will have terms that can be managed based on the requests of the borrower.
CBLP is the third source of community-based funding available to licensed cannabis companies in the state of Colorado. The Cannabis Business Grant, introduced in 2021, offers $50,000 growth grants to assist existing cannabis businesses as they expand or improve their operations and $25,000 seed grants to support early-stage cannabis businesses with startup needs. The new CBLP will accelerate expansion of larger, more established cannabis projects.
8000 Cakes The first shoe made with CBD flower
Shoe brand Hemp 8000Kicks has released a limited edition pair of shoes made from premium ground hemp flower—500 grams per shoe, to be exact. The Portuguese company has teamed up with Royal Queen Seeds and Nisiseltor Studio to create 100 pairs of Weedo sneakers.
“We are excited to partner with 8000Kicks and Nisiseltor Studio to bring this exclusive product to our customers,” said Shai Ramsahai, CEO, Royal Queen Seeds He said.
In addition to the hemp flower, the shoes are made from other sustainable materials, including hemp-and-organic-cotton blend laces, a hemp insole, and a hemp inner, with a water-based glue that holds the materials together. It has been reported that each shoe takes up to 30 hours to make.
“This limited-edition shoe is a one-of-a-kind product that shows our commitment to innovation and customer demand,” said Bernardo Carrera, CEO of 8000 Kicks. “We think this idea will surprise our customers who are looking for a more eccentric pair.”
Cannabis sales reached $100 million in 420
Headset, a cannabis data and market intelligence solution focused on retail trends, consumer insights, and buying behavior, released a special 420 report showcasing market insights and real-time cannabis sales from the casual cannabis holiday. It notes that more than $100 million was spent on cannabis products on April 20, with sales reaching $160,000 per minute. Watch it happen in real time in the video above.
