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National Business Association Urges Governors to Fully Legalize Cannabis

Dated May 18, 2020

SUMMARY BY TAX ANALYSTS

The National Association of Cannabis Businesses sent a letter to the governors of Connecticut, Delaware, Massachusetts, New Jersey, New York, Pennsylvania, and Rhode Island urging them to fully legalize cannabis to help their respective states curb economic losses from the COVID-19 pandemic.

NACB Urges Cannabis Legalization As Part of States' Reopening Strategy

A Safe, Compliant Cannabis Industry Creates Jobs & Boosts State Economies

New York, NY (May 14, 2020) — The National Association of Cannabis Businesses (NACB) is urging governors in seven northeastern states to push legislation for full cannabis legalization over the finish line as part of their strategies to reopen and re-energize state economies.

“Fully legalized cannabis is an idea whose time has arrived,” said Gina Kranwinkel, NACB CEO. “In states where cannabis has already been legalized, the industry is boosting small business and minority entrepreneurship, creating jobs, and generating millions of dollars in state tax revenue.”

“We urge the governors in New York, New Jersey, Connecticut, Delaware, Pennsylvania, Rhode Island and Massachusetts to coordinate their cannabis strategies to take full advantage of retail sales in their states,” added Mark Gorman, NACB's Executive VP and COO. Reach Mark at Mark.Gorman@NACB.com

The NACB is the only U.S. cannabis organization whose members are vetted as being responsible, trustworthy, and compliant with state laws and best business practices. It has become well- recognized for its creation and adoption of national standards for responsible cannabis manufacturing, advertising, and marketing practices. NACB leaders are consulting with state leadership on policy design and implementation that will promote a safe and compliant cannabis industry in their states.

“Governors in the northeastern U.S. have been working tirelessly and effectively to contain the coronavirus crisis, and the NACB has great respect for their efforts. We are also enthusiastic for their leadership of efforts to coordinate the resources and strategies needed to emerge from the lockdown,” said Gorman. “Legalizing cannabis sales and encouraging retailers to be proactive with strategies like home delivery and curbside pickup is not only a safe way to serve consumers, it will also generate millions of dollars in desperately needed tax revenues for their states.”

“The medical cannabis industry has shown how to make it through this pandemic while maintaining and creating jobs, generating much-needed revenue, and giving patients access to the safest, quality-controlled and innovative products. Allowing adult use is the next logical step now that most legal states have deemed cannabis businesses as 'essential,'” said Arnaud Dumas de Rauly, CEO of the Blinc Group, an NACB member based in New York City.

To create national cannabis industry standards, the NACB takes input from government, NACB Members and subject matter experts into consideration in its deliberative and inclusive development process. To date, the NACB has adopted National Standards for

  • Packaging & Labeling

  • Advertising

  • Lab Testing & Product Integrity

  • Security

  • Infused Products Production and Storage

  • Hemp

“We've offered to work with state policymakers to develop responsible and transparent regulations,” said Gorman. “With our expertise in the cannabis space, the NACB can help ensure for the citizens and voters that the legalization process will encourage a responsible, ethical cannabis industry in their state,” said Gorman.

About the National Association of Cannabis Businesses (NACB): The National Association of Cannabis Businesses (NACB) is the industry's first and only self-regulatory organization whose mission is to support the compliance, transparency and growth of legal cannabis businesses in the U.S. Compliance with the National Standards is required for ongoing membership in the NACB.

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