For the seventh consecutive year, Rhode Island lawmakers plan to introduce legislation that would legalize recreational use of marijuana instead of a ballot initiative.
Advocates are hopeful that the proposal might finally get a vote this time, because Rhode Island residents can simply buy the drug in neighboring Massachusetts. The state approved recreational use in a November ballot.
Surging e-cigarette use by young adults is "a major public health concern," according to the U.S. surgeon general, who will recommend increased regulation of the products in a report set to be released today.
Those will include higher taxes, raising the minimum age to 21, incorporating e-cigarettes into smoke-free laws and restricting certain marketing efforts.
mCig's (OTCQB:MCIG) Chairman and CEO, Paul Rosenberg voluntarily returned 5M Series A Preferred shares, representing 50M underlying common stock to the company treasury.
The process is expected to be completed by September 30.
"At MCIG, our shareholders are important to us and by returning 50 million common shares back to the treasury we instantly create additional value to the shareholders & health of the company. The return of these shares demonstrates management's desire to maintain a capital structure that supports growth without resorting to the increasing of our authorized shares. This is an integral part of MCIG Inc.'s long term corporate strategy. By unlocking shareholder value first, we lay a foundation that is poised to grow in our target markets," said Paul Rosenberg, CEO of mCig, Inc.
California Governor Jerry Brown has signed a pack of bills that will raise the smoking age from 18 to 21, restrict the use of electronic cigarettes in public places and expand no-smoking areas at public schools.
The new laws, which take effect June 9, are a big boost to a movement that is turning into the next major challenge for the $100B tobacco industry.
Lawmakers in 10 other U.S. states are currently considering similar legislation.
California lawmakers have voted to make the nation's most populous state the second to raise the smoking age from 18 to 21 as part of a sweeping package of measures cracking down on tobacco products and electronic cigarettes.
"With California having such a huge population, it's going to be very impactful nationwide," said Cathy Callaway, associate director of state and local campaigns for the American Cancer Society.
Hawaii became the first state to lift the smoking age limit to 21 in January.