Published November 10, 2016
SAN DIEGO — CannaNative, a Native American-owned and operated company created to assist more that 560 U.S. tribal nations utilize the cannabis industry to gain true sovereignty, applauds Tuesday’s passage of Proposition 64 by California voters to legalize recreational marijuana in the state.
On Tuesday, California voters passed Proposition 64, making California the largest state to legalize marijuana for all uses including recreational use. The 62-page law, formally known as the Control, Regulate and Tax Adult Use Act, or the Adult Use of Marijuana Act, allows up to one ounce of marijuana flower or eight grams of cannabis concentrates for adults 21 and older, the personal cultivation of up to six marihuana plants and the industrial cultivation of hemp.
Legalization of adult use of marijuana throughout California is expected to balloon California’s legal marijuana market value to an estimated $6.46 billion by 2020, allowing the state to collect more than $1 billion in tax revenue annually.
“The passing of California’s proposition 64 is a win-win for Native American Sovereign Nations, California, the state in which our Company is headquartered and for the already booming cannabis industry, the newest multibillion-dollar industry in the U.S.,” said Anthony Rivera, CannaNative CEO. “We believe the passage of Proposition 64 will be a major driver in pushing the whole cannabis industry further forward and setting the stage for Indian Country’s participation.”
“CannaNative was formed to spearhead the restoration of cannabis cultivation, manufacturing and distribution of products for health and wellness initiatives, medical research and more.” added Mr. Rivera. “We believe this new legalization in California will increase access to cannabis and provide a health and economic solution for tribal governments.”
Also on Tuesday, recreational marijuana for adults proposals were approved in Maine, Massachusetts, and Nevada. Proposals for medical use of marijuana passed in Arkansas, Florida, Montana, and North Dakota. There are now 28 states and the District of Columbia that have legal channels for the medical use of cannabis while 8 (and D.C.) allow limited sale and use of marijuana for recreational purposes.