LOS ANGELES (AP) – Nearly 150 marijuana businesses in California are warning that they could face steep financial losses unless the state extends a July 1 deadline imposing strict standards for pot testing and packaging.
In a letter Friday to Gov. Jerry Brown, the United Cannabis Business Association says the changes would further unsettle the struggling legal market that launched Jan. 1.
The trade group that represents cannabis companies says too few labs can handle the testing and retailers would have to destroy vast amounts of unsold cannabis that doesn’t meet the new standards.
Association president Jerred Kiloh (KAI-loh) estimates that businesses could face nearly $400 million in losses if those unsold supplies are destroyed.
The letter says the new rules could “further cripple the already struggling regulated market.”
