Showing posts with label business. Show all posts
Showing posts with label business. Show all posts

Chico California cannabis committee has ordinance in the works



After 9 weeks, the committee has a good idea of the ordinance they want to propose to regulate recreational marijuana sales in the City of Chico.


CHICO, Calif. -
California voters said yes to recreational marijuana in 2016.
Nearly three years later, the City of Chico is getting ready to get on board.

"We have a massive debt crisis, an under-funded pensions crisis… to the extent that the city could have more money to clean up the streets and do things that would be a benefit to the residents, I think that would be a good thing," said Miles Rampel, lives in Chico.

9 weeks ago, a committee of community representatives from both sides of the issue started exploring what marijuana sales, production, and distribution would look like for Chico.
Teri Dubose represents the Downtown Chico Business Association.

"I think it's best that we start small and grow from there, based on how it's doing rather than starting really big and trying to reign things back in," Dubose said.

Some people in Chico say that's probably a good idea.


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Redding gives a green light to first cannabis cultivator

10/12/18

Redding California - "Location, location, location.

Minutes before ratifying its objection to a cannabis cultivation business opening next to the Good News Rescue Mission, the Redding Planning Commission on Tuesday unanimously approved a similar operation on Innsbruck Drive in a largely industrial area.

The Planning Commission made quick work of the Innsbruck proposal, approving Pinnacle Cultivator’s use permit after nobody spoke for or against the commercial marijuana business on the city's east side, north of Highway 44.

It was a stark contrast to the commission’s Aug. 28 meeting, when Aleck Commercial Cultivation’s proposal for South Market Street drew opposition from the Rescue Mission, a homeless shelter that also operates addiction recovery programs for men and women.

After hearing those concerns, the Planning Commission at that meeting blocked the project, a decision it ratified 5-2 on Tuesday. Commissioners Michele Goedert and Randy Memeo dissented.

Among the other reasons the Planning Commission denied Aleck Commercial Cultivation’s use permit is the location is in a high-crime area and it’s close to homes and apartments.
Aleck Cultivation has appealed to the Redding City Council.

Meanwhile, Pinnacle Cultivators scored the city’s first use permit for a marijuana commercial cultivation business.

Before endorsing it, Commissioner Goedert recommended removing a condition requiring a facility processing food or drink products containing cannabis be required to connect to kitchen drainage fixtures.

“We don’t want to give the appearance at all that it could be anything other than cultivation,” Goedert said.

The condition was removed and the project passed.

Pinnacle Cultivators owner Kole Heston has said he wants to open in six months to a year. Heston owns the 2915 Innsbruck Drive building.

He has been cultivating and selling cannabis to dispensaries locally and across California for 10 years. When California voters made recreational marijuana legal in 2016, Heston saw an opportunity to grow his business.

A 2007 Pioneer High School graduate (he also attended Foothill High), Heston has said he got into the cannabis business for its healing qualities.

Pinnacle Cultivators will have 10 to 15 employees to start. But Heston envisions five to 10 years from now expanding into distribution and retail and employing 50 to 100 people."

Investors send canadian pot stock soaring on possible Marlboro tobacco deal




New York (CNN Business)The company that makes Marlboro cigarettes may be looking for a new vice. Altria could find that the red-hot cannabis industry is a much-needed supplement to its stagnant tobacco business.

Canadian cannabis company Cronos Group surged Monday after Reuters reported Altria may want to buy the company. The stock was up nearly 30% at one point before it was briefly halted for trading midday Monday. Shares were still up 12% when trading resumed.

Cronos confirmed in a statement that it was discussing a potential investment by Altria, but Cronos said the two companies had not yet reached an agreement. Altria was not immediately available for comment.

Cronos, Aphria and other cannabis stocks have been thrust into the spotlight in the past few months following the legalization of recreational marijuana in Canada in October, as well as legalized recreational and medical pot in several US states last month.


Read More:  Pot stock soaring

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