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by Stockwatch Business Reporter

The Canadian Securities Exchange Composite Index dropped 1.20 points to 608.85 Monday. According to a recent report from the Los Angeles Times, California authorities have seized $30-million since the start of 2018 in black market marijuana products from unlicensed dispensaries. In 2018, California's Bureau of Cannabis Control worked with local law enforcement to seize about 1,600 pounds of cannabis, worth $13.5-million. In the first six months of 2019, the bureau seized 2,500 pounds of cannabis, worth $16.5-million. It has been widely reported that California has struggled to contain the illegal marijuana industry. Part of the reason that the illegal market is thriving is the high cost for companies to operate legally. Legal producers incur costs from required building and security upgrades, lawyer fees to ensure compliance, employee compensation, and state-required pesticide testing. These companies also see up to a 45-per-cent increase in costs as a result of high state and local taxes.

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