Flora’s acquisition of Vessel Brand Inc. will help Flora sell hemp products such as fabrics and creams in the US and also give them access to the growing market for cannabis vapor products, said Flora CEO Luis Merchan, as quoted by Bloomberg. While the deal between the two companies has been finalized, the specific terms are still being negotiated.
A recent presidential decree in Colombia allows Flora to begin exporting marijuana. However, U.S. law still prevents Flora from importing cannabis products or doing cannabis-related businesses on U.S. soil. Outside the US, Flora can sell marijuana for customers to use with the Vessel devices.
Recreational marijuana licensing program in Detroit
Meanwhile, U.S. residents in Detroit could apply for recreational marijuana certification and should receive those licenses soon. City Mayor Mike Duggan and Alderman James Tate announced the licensing program in December 2020, and the first licenses should be issued by last June.
“It’s by far the most controversial provision,” said Duggan. “The city won’t license any company unless 50% of the licenses in that category are Detroit. That said, if you’re coming from out of town, you can’t get a license unless a Detroit resident already has one. We will never go below 50%. “
The city guides stated that the goal of the program is to ensure that marijuana users benefit from the highly profitable industry and are not affected by the nation’s failed “war on drugs”. “We had to make sure we corrected this mistake,” said Tate. “We have people who deserve a very good life today on marijuana, the same plant that created this situation of mass incarceration in our country in the city of Detroit, so this is an opportunity for us.”
California: Legalization of cannabis has not resulted in increased use among teenagers