Oct 5, 2022
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CBN to begin refund of capital deposits, licensing fees to Bureaux De Change
CBN to begin refund of capital deposits, licensing fees to Bureaux De Change
The Central Bank of Nigeria has said that it will commence an immediate refund of all outstanding minimum capital deposits and licence fees to Bureaux De Change promoters with the pending licence applications. Solacebase reports that the apex bank said this in a circular released on Thursday. The action is coming after the apex bank Governor, Godwin Emefiele had said during the Monetary Policy…
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Chip technology firm Arm Inc. to ease fees for startups, join incubator
Chip technology firm Arm Inc. to ease fees for startups, join incubator
Arm Inc, owned by Japan’s Softbank Group Corp, whose chip technologies power most smartphones, said on Wednesday it was easing fees for startup companies and providing free offerings to an incubator for early-stage chip firms.
Arm licenses its intellectual property to companies like Apple which in turn uses the technology in Apple-designed chips for iPhones, iPads, Apple TVs, and other devices.
A…
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New Post has been published on http://420cashcrop.com/420news/arkansas-judge-tosses-states-medical-marijuana-licensing-process/
Arkansas judge tosses state's medical marijuana licensing process
LITTLE ROCK, Ark. — An Arkansas judge on Wednesday struck down the state’s decision to issue its first licenses to grow medical marijuana, ruling that the process for awarding the permits and the rankings of applicants were unconstitutional.
Pulaski County Circuit Judge Wendell Griffen granted a preliminary injunction preventing the state Medical Marijuana Commission from awarding cultivation licenses. Griffen last week issued a restraining order preventing the state from awarding licenses to five companies.
Griffen ruled that the process for awarding the licenses violated a state constitutional amendment voters approved in 2016 legalizing marijuana for patients with certain conditions. He ruled the commission’s rankings of the 95 applicants for the cultivation licenses were null and void. Griffen sided with an unsuccessful applicant that had sued the state over claims the process for awarding the licenses was flawed.
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In his ruling, Griffen said he “takes no joy” in blocking the state from issuing the licenses.
“The prospect that Arkansans must now endure more delay before gaining much needed access to locally grown medical marijuana should be unpleasant to anyone concerned about providing relief to people who suffer from serious illnesses,” Griffen wrote.
The attorney general’s office said it was reviewing Griffen’s ruling and discussing it with state officials, but did not say whether it planned to appeal to the state Supreme Court.
Griffen said the process for awarding the licenses was compromised by potential conflicts of interest by commissioners who scored the applications, including one whose law firm represents the owners of one of facilities that was going to receive a license in non-marijuana related matters. Another commissioner is a physician who routinely refers patients to the medical practice of another doctor who is a part owner of a cultivation facility.
The state, however, has said that the applications scored by the commissioners were redacted and did not include any identifying information about the applicants.
Griffen said the state also failed to verify applicants’ assertions that the primary entrance for their proposed facilities would be at least 3,000 feet from school, churches and daycare centers, the distance required by the medical marijuana amendment. He also ruled the commission violated its own rules by failing to evaluate whether people connected with the applications have been affiliated with entities that have had their corporate status revoked for not paying franchise taxes.
Naturalis Health LLC, the applicant that sued over the process, has said it wants an independent evaluator to re-score the applications for the cultivation facilities.
“We’re very grateful for the judge’s decision and look forward to what comes next,” Jay Bequette, an attorney for Naturalis, said.
New Post has been published on http://420cashcrop.com/420news/arkansas-judge-rejects-bid-to-quash-medical-marijuana-license-lawsuit/
Arkansas judge rejects bid to quash medical marijuana license lawsuit
Published: Mar 16, 2018, 1:22 pm • Updated: Mar 16, 2018, 1:22 pm
By The Associated Press
LITTLE ROCK, Ark. — An Arkansas judge who blocked the state from issuing its first licenses to grow medical marijuana has rejected an effort to dismiss a lawsuit challenging the state’s application process for cultivation facilities.
Pulaski County Circuit Judge Wendell Griffen on Friday rejected the state’s argument that Naturalis Health, LLC, a company that unsuccessfully applied for a license, didn’t have standing. Griffen also rejected the state’s argument that it is immune from the lawsuit.
Griffen is holding a hearing on whether to issue a preliminary injunction further preventing the state from awarding licenses. He issued a temporary restraining order against the state on Wednesday — shortly before state regulators planned to issue five licenses.
The company is asking that all 95 license applications be submitted to an independent evaluator.
This story is developing and will be updated
New Post has been published on https://420cashcrop.com/420news/arkansas-judge-blocks-state-from-licensing-medical-marijuana-growers/
Arkansas judge blocks state from licensing medical marijuana growers
Published: Mar 14, 2018, 10:52 am • Updated: Mar 14, 2018, 10:54 am
By The Associated Press
LITTLE ROCK, Ark. — An Arkansas judge has temporarily blocked the state from issuing licenses to five companies to grow medical marijuana in response to complaints about the state’s process for reviewing applications for the facilities.
Pulaski County Circuit Judge Wendell Griffen issued a temporary restraining order Wednesday against the state, which had planned to formally issue cultivation licenses later that day. Griffen scheduled a hearing Friday on a request for a preliminary injunction against the state.
Griffen issued the order in response to a lawsuit filed by Naturalis Health, a Little Rock company that was not among the top five applicants.
The state’s Medical Marijuana Commission last month named the five companies it intended to award licenses for cultivation facilities. All five firms by Friday paid the licensing fees and posted performance bonds.
This story is developing and will be updated
New Post has been published on http://420cashcrop.com/420news/first-challenges-filed-over-arkansas-medical-marijuana-licenses/
First challenges filed over Arkansas medical marijuana licenses
Published: Mar 13, 2018, 8:24 pm • Updated: Mar 13, 2018, 8:26 pm
By The Associated Press
LITTLE ROCK, Ark. — Arkansas regulators are receiving a flurry of challenges to the licensing of the state’s first medical marijuana growers.
The Arkansas Medical Marijuana Commission announced last month the five companies that scored high enough to receive a license to grow medical marijuana. The cultivation licenses are expected to officially be issued at Wednesday’s commission meeting.
The Arkansas Democrat-Gazette reports that an unsuccessful applicant filed a letter of protest with the commission Monday, requesting it refrain from issuing the licenses because the scoring process was flawed.
The Department of Finance and Administration also says it’s reviewing the tax status of those associated with the winning applicants amid delinquency concerns.
David Couch is the attorney who drafted the constitutional amendment legalizing medical marijuana. He says industry experts expect more challenges in coming days.
Information from: Arkansas Democrat-Gazette
New Post has been published on http://420cashcrop.com/420news/arkansas-names-5-companies-picked-to-grow-medical-marijuana/
Arkansas names 5 companies picked to grow medical marijuana
Published: Feb 28, 2018, 3:48 pm • Updated: Feb 28, 2018, 3:48 pm
By The Associated Press
LITTLE ROCK, Ark. (AP) — Arkansas took the first step Tuesday toward launching its medical marijuana program, as state regulators named the five businesses they intend to license to grow the drug.
The state Medical Marijuana Commission announced the top applications for cultivation facilities, which will grow and provide cannabis for dispensaries to sell under a 2016 voter-approved measure. The panel is expected later this year to license up to 32 dispensaries to sell the drug.
The companies have seven days to pay a $100,000 licensing fee and post a $500,000 performance bond in order to receive the licenses.
The companies are Natural State Medicinals Cultivation in Jefferson County, Bold Team LLC in Woodruff County, Natural State Wellness Enterprises in Jefferson or Jackson County, Osage Creek Cultivation in Carroll County and Delta Medical Cannabis Company Inc. in Jackson County.
Natural State Wellness Enterprises’ investors include former Attorney General Dustin McDaniel, who said the company hopes to decide in the next 24 to 36 hours in which county to locate. The company had two applications among the top five, but is prohibited from opening more than one facility.
“We appreciate that it is a public trust that has been placed upon our company to produce quality, safe, and legal medicine to Arkansas patients,” said McDaniel, who is also an attorney and lobbyist for the company. “We will make a location decision shortly and will promptly begin construction.”
Delta Medical Cannabis has a property under contract in Newport, about 89 miles northeast of Little Rock, and will likely have its facility up and running by the end of this year or early 2019.
“We’re building a state of the art facility from the ground up,” said Donald Parker, an owner and attorney of the company.
Related: Arkansas buffer zones will make medical marijuana licensing a tricky business
The state received 95 applications for cultivation facilities. The applications were scored by each of the five commissioners on several factors, including business experience, qualifications and finances. The commission will meet March 14 to formally award licenses to companies that complied with the requirements.
The state has approved more than 4,100 applications for patients to use medical marijuana, and will issue registry cards about a month before the drug is expected to be available legally.
The licenses were announced the same day dozens of medical marijuana supporters appeared at the state Capitol to urge lawmakers to make changes to the medical marijuana program next year. The proposals include adding qualifying medical conditions, ending a 4 percent tax on medical marijuana sales and allowing students approved to use medical marijuana to have access to non-smokeable forms of cannabis on school grounds.
“We wanted everyone to really understand what the real story is. It’s not about five businessmen that are going to make a lot of money,” Corey Hunt with the Arkansas Cannabis Industry Association, said. “It’s about these patients here who fought years and years and years.”