1. What is the current status of Medical Marijuana in Florida?
On November 8th 2016, Florida passed Amendment 2, where patients requiring access to Medical Cannabis must be a Florida resident and must furnish evidence that they have used or exhausted traditional treatment methods. A physician is necessary to recommend Medical Cannabis as treatment. The physician is responsible for determining the patient has exhausted traditional treatment and that the patient has reached the last alternative. A recommendation for Medical Cannabis is then written. Once the physician recommends the patient for Medical Marijuana use, the physician will submit it to the “Compassionate Use Registry.” The MMJ card will then be sent by mail.
2. How much money is projected for Florida?
Florida could become the second largest medical cannabis market in the country after California, with numerous patients and sales project to be in the billions.
3. What are the diseases treatable under Florida’s new Medical Marijuana Law (“Amendment 2”)
- Post-Traumatic Stress Disorder (PTSD)
- Amyotrophic Lateral Sclerosis (ALS)
- Crohn’s Disease
- Parkinson’s Disease
- Multiple Sclerosis
Amendment 2 also enumerates the following language “other debilitating medical conditions of the same kind or class as or comparable to those enumerated.”
4. What type of License will the state of Florida allow?
At the moment we do not have a definite answer. The Department of Health in Florida has until July 3rd, 2017, to publish the laws regulating the Medical Cannabis Industry. In 2014, the Department of Health required for the Low – THC licensing application that applicants follow the integrated system. An integrated system occurs when in the same facility the cannabis is cultivated, processed and dispensed. We believe Florida will divide the licenses.
5. What you need to know about the Regulated Cannabis Industry?
The Regulated Cannabis Industry is the fastest growing industry in the United Stares today. This phenomenon is known as the “Green Rush.” In 2014, nationwide sales peaked at $2.8 billion and $5.8 billion in 2015, Twenty – Eight States and Washington D.C., already have Medical and / or Adult Use cannabis laws in place. The projected potential sales in Florida are $2 – 3 billion. Florida is expected to be the SECOND LARGEST MARKET in the United States of America.
6. Do you want to become part of the Florida Cannabis Industry?
If the answer is “YES,” then there are some important facts you should consider:
- The Cannabis Industry will be strictly regulated by State, County and Local Governments.
- A limited number of licenses will be issued for growing, processing and retail. Each license application will be reviewed thoroughly on a merit based system.
- Even approved applicants will have to remain compliant with State Regulations throughout the entire process. Any violations may lead to revocation of the license or a hefty fee.