July 1 could be ‘extinction event’ for some California cannabis businesses

Starting July 1, licensed operators in California’s marijuana market must be in compliance with the state’s readopted and updated emergency regulations.

Retailers will no longer be able to sell product that hasn’t passed testing lab standards mandated by regulators.

They were given six months to exhaust their supplies of cannabis products made before the new requirements, and the deadline is now looming.

July 1 might even prove an “extinction event” for businesses struggling to comply, observed Pamela Epstein, founder of Los Angeles-based Green Wise Consulting.

Consultants, lobbyists, manufacturers, distributors and retailers in California pinpointed five pain points the state’s licensed operators are feeling:

1. Compliance ‘cash crunch’

The price tag of coming into line with California’s regulations, in addition to state and local licensing costs and state and local taxes, could make this the first

... read more at: https://mjbizdaily.com/july-1-could-be-extinction-event-for-some-california-marijuana-businesses/