Global News Wire // 12.7.18
With the expected vote and passage of the 2018 Farm Bill on Monday, hemp and CBD stocks are expected to skyrocket. The Farm Bill will legalize the cultivation of hemp and is expected to also allow for the federally legalization of CBD. GW Pharmaceuticals (OTC: GWPRF), CV Sciences (OTC: CVSI), Aurora Cannabis (NYSE: ACB), Cannabis Sativa Inc. (OTC: CBDS) and American Premium Water Corporation (OTC: HIPH) are CBD and hemp stocks expected to soar today.
Market Watch // 12.9.18
Friday Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) rallied 24% after the company announced that it entered into a subscription agreement with Altria Group (NASDAQ: MO). Altria has agreed to invest approximately CA$2.4B of equity into Cronos on a private placement basis in exchange for common shares in the company. Altria will also receive warrants of Cronos that if fully exercised would provide the company with an additional CA$1.4B in proceeds. The shares issued in the subscription agreement will result in Altria holding approximately 45% ownership interest in Cronos Group.
Motley Fool // 12.9.18
Canadian cannabis firms Aurora Cannabis (NYSE: ACB), Canopy Growth (NYSE: CGC), and Tilray (NASDAQ: TLRY) have seen their stocks perform very differently. All three companies have issued convertible debentures and convertible notes to raise money. These start as loans but can convert to stock, diluting company shares. With companies like Aurora buying up as much real estate as they can, more dilution is likely to come.
Motley Fool // 12.9.18
Despite the record-breaking year for the cannabis industry, Horizons Marijuana Life Sciences Index ETF (NASDAQ: HMLSF), the very first cannabis ETF, is down 35% year-to-date. According to Motley Fool’s Sean Williams, major cannabis firms will be spending liberally as they expand globally and build their brands. These added costs will make them less likely to be profitable any time soon. Sales growth is being outpaced by cost growth and is likely to remain that way throughout 2019.
Benzinga // 12.7.18
Danny Moses, a short-seller who betted against collateralized debt obligations and was documented in Michael Lewis’ book The Big Short, was appointed the third independent member of Merida Capital Partners in October. Moses considers the most interesting opportunities in the cannabis sector to be in private equity. Take a look at why Moses is bullish for the cannabis industry.
Forbes // 12.9.18
Florida’s Trulieve Cannabis Corp. (OTCMKTS: TCNNF) generated revenue in excess of $28M in the third quarter. Trulieve’s revenues in 2017 amounted to $19.7M. With $67M on the books, Trulieve is projected to rake in $100M in 2018. The company has executed extremely well, and investors are more focused on the limitations of Florida’s market than the company’s need to expand to new states.
The Seed Investor // 12.7.18
For the quarter that ended on November 30, 2018, Liberty Health Sciences Inc.’s (CSE: LHS) (OTCQX: LHSIF) quarterly revenue increased 45% totaling $3.2M. The company’s fiscal year-to-date revenue totaled $6.5M. During the quarter, Liberty Health’s patient count increased 46% to approximately 14,500 people.
Seeking Alpha // 12.9.18
iAnthus Capital (OTCQX: ITHUF) released its Q3 financial report reflecting a quarterly revenue of $1.1M, an increase from Q2 revenue of $533K. The company announced the acquisition of MPX Bioceutical (OTCQX: MPXEF) in October, a transitional moment for the company. Seeking Alpha’s Cornerstone Investments discusses how this acquisition will result in a combined entity that rivals any of the top US competitors.
Global News // 12.7.18
Friday in Vienna, the World Health Organization, who was due to report on cannabis to the UN’s Commission on Narcotic Drugs, asked for more time to consider if marijuana should be removed from international drug treaties. With only two countries having legalized cannabis for non-medical purposes, there is not enough willingness at the UN level to push the agenda, according to industry insiders.
The Irish Sun // 12.9.18
Ireland could soon have a Compassionate Access Program for medicinal cannabis, according to Health Minister Simon Harris. The minister hopes to roll out new legislation that would legalize medicinal cannabis use in 2019. Harris points out that legalizing cannabis production for medical purposes would also benefit the country’s agricultural sector.
CBC // 12.7.18
Aurora Cannabis (NYSE: ACB) announced that it will supply cannabis to Mexico through a partnership with pharmaceutical manufacturer and distributor Farmacias Magistrales. Farmacias was recently granted the first and only cannabis import license by the Mexican federal authorities.
News Hub // 12.9.18
New Zealand’s managing director of Hikurangi Cannabis Company, Manu Craddie traveled to a conference in Vienna to join the United Nations’ discussions on global cannabis policy this last weekend. The goal of the summit is to establish a global fair-trade alliance for the cannabis industry.
Security Info Watch // 12.7.18
Security companies are showing an increased interest in working with medical marijuana and recreational cannabis dispensaries, cultivators and producer/processors. Competitive rates and technology were displayed to the public at the recent MJBizCon.
The Washington Post // 12.7.18
Dispensaries and medical marijuana companies are Maryland are walking a fine line within Instagram and Facebook’s rules and restrictions. Statistics in states with legalized medical and recreational marijuana show that social media improves brand recognition and boosts sales. Many Maryland dispensaries have had their Instagram accounts shut down, resulting in a dramatic loss in business. These dispensaries are working with social media companies to find a way to keep their pages online within the sites bylaws.
Green Market Report // 12.10.18
The 2018 Farm Bill is scheduled for a vote today and is expected to pass with language that will legalize industrial hemp. Hemp farmers and CBD companies are particularly excited, as the bill amends the Controlled Substances Act and legalizes CBD. CBD is expected to be rescheduled as a schedule 5 substance, removing DEA restrictions. T
Baltimore Sun // 12.7.18
Maryland’s medical marijuana industry sold more than $96.3M worth of cannabis in its first year of operation. The Baltimore Sun reports that as many as 350 people per day apply for medical marijuana licenses.
Marijuana Moment // 12.7.18
President Donald Trump announced Friday his nomination for US Attorney General will be William Barr. While on the surface Barr seems less hostile toward cannabis than his predecessor, Jeff Sessions, Barr built a reputation under the Bush administration for being anti-drug while overseeing harsh enforcement policies. Barr’s nomination undermines Trump’s recent endorsement of sentencing reform. Critics feel that Barr will be a disastrous choice for the cannabis industry.
News 3 Las Vegas // 12.7.18
Accordingto the Department of Taxation there are 65 licensed retail locations authorizedto sell cannabis, with 48 of those in Clark County. The Department of Taxationissued 61 additional licenses to cannabis retailers this week, 31 of those licenseswill be located in Clark County.
Bloomberg // 12.7.18
New Jersey legislature has advanced a bill that would set a cannabis tax rate of 12% while giving municipalities the right to add an additional 2% tax. Having promised $300M in tax revenue, Governor Phil Murphy, a democrat, prefers a 25% tax. Tom Adams, the managing director of industry intelligence of BDS Analytics, warns New Jersey not to follow California’s example of adopting steep cannabis taxes. According to Adams, states that have adopted light taxation and liberal licensing have reduced black market presence.
Gloucester Daily Times // 12.7.18
The Massachusetts Cannabis Control Commission (CCC) is set to take oversight of the medical marijuana industry starting December 23rd. So far, 57,000 patients, 7,000 caregivers and 47 dispensaries have been approved statewide. The Department of Health employees who have been working in the medical marijuana program will transition to work with the CCC.
KRDO // 12.7.18
Colorado residents are hopeful that new democratic-controlled legislature could allow for some previously overruled bills to be revisited and approved. One of the bills that will be brought back to Colorado legislators proposed a controlled pilot program to test out mail order delivery for medical cannabis products in a small number of cities.
Mustang News // 12.7.18
Beginning January 1, 2019, cannabis producers and dispensaries will be allowed in the city of San Luis Obispo. Initial permit fees are approximately $22,519, and fees for renewal permits can cost anywhere from $66,000 to $90,436. The fees are meant to cover the city department costs used to oversee the cannabis industry.
Business Journals // 12.7.18
Effective today, Dec. 10, Los Angeles-based MedMen Enterprises Inc. (OTCQX: MMNFF) (CSE: MMEN) (FSE: A2JM6N) announced that interim CFO Jim Miller will return to his previous position as the company’s vice president of accounting. MedMen has hired finance executive Michael Kramer as the company’s new chief financial officer.
The Press Democrat // 12.7.18
Statewiderecreational marijuana deliveries have been approved by regulators inCalifornia. Those who supported statewide delivery stated that people who weresick and relying on marijuana for treatment might be unable to drive to arecreational cannabis dispensary, therefore shutting them out of the market.The new rules are set to become law in 30 days, assuming that they are notoverruled by the office of Administrative Law.
PR News Wire // 12.7.18
Delta 9 Cannabis Inc. (TSXV: NINE) (OTC: VRNDF) announced it has received conditional approval from the Manitoba government to open a new cannabis store in Brandon, Manitoba. The 4,800 square foot cannabis outlet will be the largest in Manitoba. Included onsite will be a Cannabis Education Centre offering courses on cannabis use and public safety.
Daily Hive // 12.6.18
The Canadian Federal Government recently expanded the role of Bill Blair, member of parliament, to give him duties directly related to cannabis. Blair served 39 years with the Toronto Police Force and is the face of the governments increased impaired driving enforcement.
CTV News // 12.6.18
NDP MP Murray Rankin is making one final plea to liberals to back tabled Bill C-415, a measure that would expunge criminal records for simple possession. The NDP MP raised concerns that pardoning individuals would be a half measure. Further, past offenses can be retained by various agencies, leaving disenfranchised people open to discrimination.
Toronto City News // 12.7.18
Health Canada gave Shoppers Mart a license to sell medical marijuana through their website to customers that will receive their product in the mail. The company still has no desire to cultivate or produce medical cannabis, but the pharmacy chain has been waiting since 2106 to receive their license to sell product online and in stores.
Civilized // 12.6.18
Utah Lawsuit is claiming that the Church of the Latter-Day Saints played a part in weakening the medical marijuana laws to pass last week. Many say that the church changed parts of the law that had previously been voted on, resulting in a breach of constitutional rights. The lawsuit states that a failure to separate church and state occurred and the church actively told its members to vote against the Utah Medican Cannabis Act.
Colorado Independent 12.6.18
The District Attorney for the city of Boulder, CO announced to vacate and seal thousands of pre-legalization cannabis related convictions, inspiring the DA for Denver to do the same. Other state legislators are proposing that even more convictions be sealed, allowing those with a record to have an easier time finding a job now that marijuana is legal in the state. The majority of people with minor marijuana related convictions on their record are black and Latino people, creating an inaccurate representation of the Colorado population and pushing these minorities into poverty. It is argued that to continue pushing down people for crimes that have been since been legalized is unconstitutional, and Colorado is hoping to be the first of a number of states to start sealing records.
Press Herald // 12.7.18
The Department of Administrative and Financial Services for the state of Maine has announced their collaboration with LA based company BOTEC Analysis to write the rules and regulations for the recreational legalization of marijuana. BOTEC Analysis worked with Washington state to write a ‘seed to scale’ tracking system and commercial licensing program. The company is expected to finish the preliminary writing stages in April.
Financial Post // 12.8.18
Have a Heart, a Seattle founded dispensary chain, has opened its first (and second) medical dispensary in Iowa. With a long and successful history in the medical industry in Washington, Oregon, Hawaii and California, Have a Heart plans to open their next shop in Ohio while they wait to hear back on the 5 other state licenses that they have applied for.
AP News // 12.7.18
The tax revenue for the state of Alaska set a record in the month of October, bringing in $1.8M. This brings the total revenue for the year so far to just under $13M.
The Detroit News // 12/9/18
A day after Michigan legalized recreational marijuana, 91 facilities have already been granted licenses. Some applicants are expressing frustration about being disqualified for a license due to previous charges. During the transition period, many details will have to be worked out to ensure all transactions enter a statewide monitoring system. For the first month of the year, temporary solutions will be put into place before the laws are finalized and put into place.
Michigan Live // 12.8.18
Following legalization of Recreational Marijuana in Michigan, the state has allowed dispensaries to supplement their inventory with cannabis cultivated by caregivers. Though this was formally a felony, the state is turning a blind eye and bending the law to allow for Caregivers to sell to businesses.
KCTV5 // 12.6.18 ——– Daily Star Journal // 12.7.18
Missouri residents voted to legalize medical marijuana on December 6th. A minimum of 192 dispensary licenses and 61 cultivation licenses will be given over the next year. Zoning requirements will be amended on December 10th, prohibiting any dispensing, cultivating or processing to occur within a stated distance of a residential area, daycare or school, or another marijuana facility. The state has until early June to make applications for patients to talk with a medical professional about obtaining a patient card.
WKBW // 12.7.18
In Niagra Falls, NY, a disabled senior was evicted from his home for use of medical marijuana. The building, Niagra Towers, is a federally funded low-income apartment building through the Department of Housing and Urban Development. Though medical marijuana is legal in New York state, the building federally funded, which was cause for the eviction. The company that owned the building was aware that the resident held both a Canadian and New York medical marijuana authorization at the time of his eviction.
Diabetes in Control // 12.8.18
Researchers evaluated the comparative occurrence rate of diabetic ketoacidosis in people with type 1 diabetes who do and do not use cannabis. Research conducted at the Barbara Davis Center for Diabetes found cannabis use correlated with an increased incidence of hospitalization due to diabetic ketoacidosis.
Digital Journal // 12.6.18
Sproutly Canada Inc. (OTCQB: SRUTF) (CSE: SPR) claims to have solved cannabis solubility problems and taste issues through a new extraction method. The company’s Aqueous Phytorecovery Process technology eliminates the challenges with taste and solubility, delivering a 90-minute experience to the consumer within 5 minutes of imbibing.