Category: Breaking News

If this is the case it’s a quick turnaround from a few days ago where media reports still indicated that cannabis provisions were still sitting in the text. Now, Marijuana Moment write…

The press release precis says “Appoints Tom Lynch, Partner and Senior Managing Director of SierraConstellation Partners, as Interim Chief Executive Officer and Chief Restructuring Officer, and Tim Bossidy, as Interim Chief Operating Officer, to guide Company through its financial and operational reorganization”

In an MJ Biz report they say the company hasn’t revealed what 40% actually means in terms of jobs lost.

In an open letter, a coalition of more than 30 licensed cannabis operators and pending applicants stress the benefits of allowing adult sales to resume in a highly regulated environment

Colorado-based CBD maker Charlotte’s Web has named a new chief operating officer to replace Stephen Lermer, who left the company Jan. 31. Reports MJ Biz.

Just in case you missed things in Cannabis in the NE during the flurry of last week.

“New York’s medical, education and law enforcement communities have urged the state to reject recreational marijuana legalization, and so does the New York State Catholic Conference,” the conference said in a March 23 memo. Reports the Catholic News Agency

Yes, huge gains, but remember Cannabis had had it’s Bear run before the rest of the market so this means big % rises on stock that had dropped about as far as it could go. Will money stay in cannabis or will it disappear back to other stock once the market finally decides where it wants to start from again. There’s a long way to go yet.

According to their latest figures and they say they are hiring too.“ In fiscal 2019, the Curaleaf team delivered record results with our organic business growth and recent strategic acquisitions, solidifying our position as the leading cannabis operator in the United States,” CEO Joseph Lusardi said in a statement.

CBDepot said it expects the EU Commission to declare its dossier valid and return it to EFSA for a risk assessment as soon as possible. If that assessment is positive, the compound’s use as an ingredient in food supplements still needs to be approved by EU Member States. Reports Hemp Today

You can’t fault their positive outlook although we might fault the timing of this acquisiton announcement / proposal. Remember,  this isn’t even a MOU just an LOI (letter of intent). Is anybody actually paying attention in the investment community would be our first question to the High Times Board.

What was one of the largest acquisitions ever announced in the marijuana industry – a deal valued at $850 million when Phoenix-based multistate marijuana operator Harvest Health & Recreation said a year ago it would buy Chicago’s Verano Holdings – has been mutually terminated, the two companies said Thursday. The coronavirus and other financial and regulatory challenges played a role in the deal collapsing, officials from both companies said.

We mentioned yesterday that the Australian senate enquiry had issued its final report and added the  relevant documentation to our piece. If you don’t feel like making your own analysis we’d suggest that this piece via the ABC sums things up fairly succinctly , “‘Ignorant, confused or misinformed’: Senate Committee Inquiry recommends overhaul of medicinal cannabis system”

There is no doubt that the COVID-19 pandemic is adversely impacting businesses around the world, and smaller businesses especially. That is why this week, NORML reached out to our numerous allies on Capitol Hill to ensure that any Unemployment Insurance aid packages considered by Congress provide relief to cannabis-industry personnel who have been or will be either furloughed from their jobs.

The WSLCB Board will be holding a special Board meeting this Friday afternoon, March 27, at 1 p.m.

Tom Siciliano will oversee the company’s hemp-derived CBD business in the Americas region. He succeeds outgoing Americas chief Leif Harrison, who recently spoke to Hemp Industry Daily about the company’s revamped global strategy.

This is the best story about the cannabis sector we’ve seen all week. Acting as good corporate partners to government and in turn helping their communities. This was all the talk of regulated cannabis back in 2015/16. It’s taken a pandemic to turn talk into action and let’s hope that each of these companies is smart enough to incorporate this thinking into their businesses as they hopefully grow in the future. Congratulations to all these companies

As Canada’s federal government urges Canadians to stay at home to combat the COVID-19 pandemic, the vast majority of private-sector cannabis stores in the nation have long been barred by provinces from offering home cannabis delivery services to customers.

Marijuana Moment reports…”The federal Small Business Administration (SBA) reiterated on Monday that marijuana companies are not eligible for disaster relief loans to lessen the blow of the coronavirus outbreak.”

MG Retailer reports….”“Given that marijuana remains an unlawful substance under Schedule I of the Controlled Substances Act, there has been concern that the relief under the FFCRA would not be available to cannabis businesses and, therefore, would not be available to support cannabis workers,” Linda Hollinshead, an attorney and Partner at Duane Morris LLP “