California: Ah, the new bureaucracy and it’s costly mechanisms?

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10,000 Legal California Marijuana Growers in Jeopardy as State Faces Pot “Extinction Event”

Phil’s Stock World  March 17, 2019

The cannabis industry in California could be heading for an “extinction event” if a new law granting extensions on temporary licenses doesn’t pass, according to a Sacramento Bee article. This would (obviously) contrast with the optimistic outlook for the potential multibillion industry that has been so widely reported on and followed over the last few years, as the rest of the nation watches California for cues on marijuana legislation.

Jackie McGowan, whose firm K Street Consulting represents the cannabis industry in California, said:

“We’ve named these ‘extinction events. This bill is a bill that the industry is very anxious to see passed.”

Terra Carver, executive director for the Humboldt County Growers Alliance commented: “If nothing is done, there will be dire consequences such as imminent market collapse of hundreds of businesses in the region and through the state.”



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