Category: Breaking News

Charlotte’s Web Has New COO

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.

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The Cannabis Stock Rebound. Last Week Aurora Was Up 41%. Tilray 150%

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.

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Curaleaf On Upward Trend ?

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.

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High Times Decides It Is The Right Time To Buy Stuff

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.

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Harvest Health & Recreation Acquisition Of Verano Now Off The Table

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.

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The Cat Is Out Of The Bag. ABC Australia Reports On Findings Of Senate Committee On Medical Cannabis. It’s What We All Already Knew

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”

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Article – NORML: Cannabis Workers, Unemployment Insurance, and the Small Business Administration: What You Need to Know

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.

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Cannabis Companies Are Good Corporate Citizens

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

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Canada Puts a Stop To Cannabis Online Orders & Delivery

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.

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Article: Will Cannabis Workers Be Eligible for Coronavirus Unemployment Benefits?

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 “

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