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Mike Tyson to Bring Cannabis Business to the Caribbean

Daniel King

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Mike Tyson Cannabis Farm

Renowned boxing legend Mike Tyson recently expressed his desire to bring his successful cannabis business over to the Caribbean. The boxer reportedly snagged a tourism deal that promotes Antigua and Barbuda.

Following Tyson’s partnership with the government, the boxer shared his willingness to open a cannabis farm in the country on behalf of his company, Tyson Holistic Holdings. Prime Minister Gaston Browne of Antigua and Barbuda said that the boxer intends to put up a cannabis farm in the area. Alongside this, other projects Mike Tyson plans to explore include developments in the accommodation, entertainment, and leisure aspects.

Prime Minister Browne said Tyson’s “interest goes beyond marijuana products or hemp products. They are also looking at the whole area of entertainment and leisure and one of the most exciting projects they will establish within the next nine months is the establishment of an annual marijuana conference here in Antigua.”

The conference is dubbed as the ‘Davos of cannabis,’ intending to go against the World Economic Forum held yearly at Davos. Once approved by the Caribbean government and the two islands involved, the marijuana conference will take place come April 2020.

The marijuana conference is slated to make a yearly appearance within the region, with the intention of inviting global stakeholders to invest within the strategic location. The island’s beauty and the people’s hospitality are major contributing factors for Tyson’s decision.

Mike Tyson and his ventures

Tyson Holistic Holdings’ investment is currently looking into a luxury hotel accommodation and golf course which supposedly allows guests to use cannabis products within the vicinity. Together with the upscale accommodation and other luxury features, the main highlight of the investment will be marijuana ranch, which focuses on selling a variety of strains, edibles, and goods.

With the Caribbean islands of Antigua and Barbuda still recovering from the havoc caused by hurricanes Irma and Maria in 2017, the sizeable investment from the boxer will help the place get back on their feet.

The famous boxer declared that Caribbean’s “association with Tyson Ranch [would be] a far good conclusion that we accomplish that and make this a powerhouse. It will good for the country and will bring in much-needed funds to help your economy.”

To date, both parties are still finalizing plans. Tyson’s group is also scouting for areas which are suitable for the hotel and the intended market.

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Cannabis News

The Effect of New Minimum Wage in Denver on its Cannabis Industry

Jordan Webber

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Denver Minimum Wage Cannabis Industry

Research shows that entry-level positions in the cannabis industry are paid less than the mandated wage in Denver City. However, taxes negatively affect the city’s cannabis industry and not labor costs. The introduction of a new law increasing the minimum wage in the city is expected to give marijuana workers better pay.

A survey that gathered data from cannabis companies in the city revealed that future entry-level workers will be given higher wages, in connection with the new law. This increase will lift the minimum wage to $15.87 by 2022. This means that the increase will be implemented incrementally every year and that the amount will reach $15.87 only in 2022.

Minimum Wage Law

While the law is fairly new and is set to take full effect in 2022, one marijuana company is starting to bring livable pay into the industry. Terrapin Care Station has recently announced that it will be implementing a company-wide increase in wages. The operator will be paying its employees a minimum of $15 per hour.

The Denver Post noted that Terrapin’s increase in wages was announced 13 days before the Denver City Council passed the new law increasing minimum pay. Moreover, the company’s $15-pay to be implemented this year outperforms the law, as Terrapin’s employees will already be paid $15 sooner as compared to what the bill mandates.

A Denver-based company that connects companies and workers recently released its salary guide for 2019. According to the guide, the usual salary given to marijuana workers will be well below the minimum wage come 2020.

The guide showed that the average pay for budtenders is $14.9 per hour, $14.8 for packagers at manufacturing facilities and $13.9 for trimmers and harvesters. This shows that Denver companies will be required to impose increases to comply.

The report noted that Denver’s minimum is 5.7% higher than the national average. It is important to note that the entry-level pay varies depending on the position type. Pay can range between $12 and $18.

Terrapin clarified that it $15 is just a starting point, which indicates it is planning to impose increases even after 2022. Such increases will be given after conducting a reevaluation every year.

Meanwhile, Denver officials recently increase taxes on recreational marijuana from 3.5% in 2018 to 5.5% in 2019. This is meant to cover housing programs.

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State of Colorado Warns Against Contaminated Cannabis

Stacey Wellington

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State of Colorado Warns Against Contaminated Cannabis

Colorado state authorities issued a public warning against potentially contaminated and moldy marijuana plants. The distribution of these cannabis plants was made due to technical errors. Both the Department of Revenue and the Department of Public Health and Environment issued a press release.

The company responsible for the system’s glitch is called Metrc, an inventory tracking system. Because of the glitch, both medical and recreational cannabis showed findings inconsistent with their real testing results. Products sold and rolled out to the public have been labeled with unsafe due to their high yeast and mold content.

Apart from Colorado, Metrc is used in around 12 states and in the District of Columbia.

Despite this, Metrc remains firm in saying the system glitch only affected the state of Colorado. The glitch reportedly ran between October 21 and November 13, 2019.

Cannabis in Colorado

Following the error, the company quickly released a fix for their system. While the company already addressed the issue, director of external affairs and business development David Urbanowicz said, “We strongly encourage licensees to continue the best practice of checking test results in addition to the status presented in the system.”

Following the distribution, the Department of Public Health and Environment from the state issued a health and safety warning. In a statement, officials said they were reaching out to the public because of “potentially unsafe levels of microbial contamination on retail marijuana and medical marijuana produced by several businesses.”

Consumption or smoking these cannabis plants may result in health-related concerns, such as lung conditions. Bacteria and mold also lead to other life-threatening illnesses when ingested through smoking, vaping, or eating compromise marijuana.

In light of these, state authorities issued a recall for the products labeled and sold to the public. These were supposedly sold from October 21 to November 14, 2019.

Based on the findings, affected medical marijuana strains include 9LB Hammer, Blue Dream, and Super Lemon Haze. Dispensaries authorized to sell these products include Cross Genetics, Elevations, and Tweedleaf.

Meanwhile, recreational cannabis strains potentially contaminated include Doctors Garden, Ghost Cake Killah, Grape Ape, Green Dragon, Mighty Tree, Natural Alternatives for Health, and Snowball.

Customers who purchased these items are asked to throw away their products or return them to their dispensaries notes the Daily Mail.

As of writing, there are no affected or compromised individuals from ingesting the said cannabis products.

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First Day of Recreational Marijuana Sales in Michigan a Success

Stacey Wellington

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Recreational Marijuana Sales in Michigan

The first day of selling recreational marijuana on December 1, 2019, in the state of Michigan drew huge crowds from all over Ann Arbor. Hundreds of individuals flocked the dispensaries in Ann Arbor.

Approximately two hours before dispensaries in the state opened, individuals already lined outside Arbor Wellness. The very first person who opened its doors is a man named Nick St. Onge, who came all the way from Clinton Township before 7 in the morning.

To celebrate the momentous occasion, St. Onge splurged and bought a huge stash of recreational marijuana that totaled $414, including Head Master Kush and Mint Milano flowers.

In a statement, St. Onge said, “it’s a historic moment. I wanted to be one of the first ones to buy legal marijuana. To not have to worry about it anymore. I can just walk in and buy it instead of going to somebody on the street to find it. It’s tested and that’s comforting.

Michigan Recreational Marijuana – A Triumph

Among the attendees of the first day of recreational marijuana sales include the renowned poet-activist from Detroit, John Sinclair. Sinclair was imprisoned for cannabis possession in 1969.

In one of his interviews, Sinclair shared details of his purchase, saying “it went swiftly. I got some weed over the counter. It’s about time. I’ve been waiting for this for 50 years.”

Michigan State Representative Yousef Rabhi was also present in the area to greet customers. Rabhi said, “it’s a whole new day. As we go into the recreational market, we have to make sure we’re not doing it at the expense of the medical market, because this demand is huge.” Although present at the opening, Rabhi did not purchase any marijuana products.

Other stores that drew in huge crowds include Exclusive Brands and Greenstone Provisions. The three dispensaries are the only companies that hold business on a Sunday.

Despite a relatively small and limited number of stores in the area, the state of Michigan is slated to welcome more stores in the future. Around 30 stores and locations are reportedly awaiting its state licenses to sell recreational marijuana.

This historic occasion marks the state’s successful venture in the cannabis industry. However, 400 cities and townships in the state remain against the sale of recreational marijuana.

As of the writing, the first 8 days of selling recreational marijuana in the state generated more than $1.6 million. Currently, there are five retail shops open around Michigan.

Illinois is slated to follow suit by selling products on the market come January 1, 2020.

 

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