<p>Cannabis News Update October 13, 2020</p> <p>Today in the world of cannabis: An investment firm rolls up a joint venture with a hemp grower, we ask Carlos Santana: Oye, &iquest;c&oacute;mo va con tu marca de cannabis?, and the numbers for Maine&rsquo;s first day of recreational cannabis sales are in.</p> <p>The Morning Buzz presented by TRICHOMES brings you late-breaking news that tells you what&#39;s happening within the cannabis industry.</p> <p>Check in with the cannabis community at</p> <p>First up: International Land Alliance, a land investment and development firm headquartered in San Diego, California has announced that it has closed a joint venture with a privately held California hemp cultivator. This according to GlobeNewswire.</p> <p>With the partnership, International Land Alliance will construct a 40 acre hemp growing operation in Southern California. Capital, consultations, equipment, scaling operations, and agricultural infrastructure will be provided by the hemp grower.</p> <p>International Land Alliance acquired the property in 2019 for $1.1 million. Under the joint venture, ownership will be split 50/50 between the company and the grower.</p> <p></p> <p><br /> And next: PR Newswire reports that Left Coast Ventures, a Santa Rosa, California-based cannabis and hemp company, has partnered with ten-time Grammy award winning guitarist and musician Carlos Santana to launch a special brand of products.</p> <p>Mirayo by Santana, a premium line of cannabis products, focuses on spiritual well-being, ancient remedies, and guiding consumers to discover their &ldquo;divine light.&rdquo; The line is inspired by Santana&rsquo;s Latin heritage.</p> <p>&shy;&shy;&shy;&shy;&shy;&shy;&shy;&shy;&rdquo;In my experience, cannabis has special properties that enhance meditative reflection and creative expression. It can dispel negative doubt to reveal the everlasting gift of our uniqueness,&rdquo; said Carlos Santana. &ldquo;With Mirayo, I hope to help people use cannabis as a door to a more benevolent behavior like kindness and compassion.&rdquo;</p> <p>The name is a combination of &ldquo;my&rdquo; and &ldquo;ray&rdquo; in Spanish, which honors Santana&#39;s heritage and hopes to empower everyone to &ldquo;follow your light.&rdquo;</p> <p></p> <p><br /> Last up: The sales numbers are in following Maine&rsquo;s first day of recreational cannabis retail, according to the Office of Marijuana Policy. The Press Herald reports $94,643 in sales were recorded on the first day. This resulted in $9,464 in state sales tax.</p> <p>The numbers account for the six recreational cannabis dispensaries that opened in the state last week. Although nine retail locations were issued recreational cannabis licenses, a shortage of legally tested and taxed products led to only six of them opening for the first day of sales.</p> <p>Due to limited supply, dispensaries had to mark up prices and impose purchasing limits on customers. Currently, an eighth of cannabis flower runs between $55 to $65 in the state. However, prices are expected to drop as more cannabis licenses are issued and more dispensaries begin to open.</p> <p></p>