Industry Overview - United States Marijuana Industry


The following content is excerpted from the Prospectus of Tidal Royalty Corp. dated January 29, 2018 filed on SEDAR.

Florida Marijuana Industry Overview

Florida currently has a limited low-THC medical marijuana program, which was signed into law on June 16, 2014, and passed on November 8, 2016, by voter initiative with over 71% of the electorate voting in favor, a medical marijuana law that will expand both the range of conditions and types of medical marijuana and medical marijuana products available to patients. Florida's existing limited medical marijuana law included only cancer, medical conditions that result in chronic seizures or severe muscle spasms, or a terminal condition that causes significant functional impairment with a diagnosis of less than one year of life. In addition, the limited medical law only permitted low-THC marijuana be sold in non smokable forms. Under the existing law "Low-THC cannabis" means a cannabis plant with dried flowers containing 0.8% or less of tetrahydrocannabinol ("THC") and more than 10% of cannabidiol (CBD). Florida ended its competitive application process on July 8, 2015 and currently has six lowTHC cannabis dispensing organizations throughout the state. The limited number of qualifying conditions, available types of medical cannabis, and number of dispensing locations has resulted in a relatively small number of patients registering with the existing low-THC cannabis program.

Florida's new and more expansive medical marijuana program will increase the number of qualifying conditions to include: epilepsy, glaucoma, positive status for human immunodeficiency virus ("HIV"), acquired immune deficiency syndrome ("AIDS"), posttraumatic stress disorder ("PTSD"), amyotrophic lateral sclerosis ("ALS"), Crohn's disease, Parkinson's disease, multiple sclerosis, and other debilitating medical conditions "of the same kind or class as or comparable to those enumerated, and for which a physician believes that the medical use of marijuana would likely outweigh the potential health risks for a patient." In addition, medical cannabis will no longer be restricted to just those forms with less than 0.8% THC. At this time, it is unclear whether or not symptoms such as chronic pain and severe nausea will be included as qualifying conditions or whether additional dispensary licenses will be issued. Regulations for the new program must be finalized within six months of June 2017.


Summary by States

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