Benzinga // 12.11.18
Due to the 2018 Farm Bill and Cuomo’s plans to legalize recreational marijuana in New York, most cannabis stocks were trading higher Tuesday afternoon. Canopy Growth Corp. (NYSE: CGC) closed up nearly 7%, while Aurora Cannabis (NYSE: ACB) was up 3.4%, and CBD-infused beverage manufacturer New Age Beverages Corp. (NASDAQ: NBEV) climbed 8%. ETFMG Alternative Harvest ETF (NYSE: MJ) closed up roughly 1.7%.
Associated Press // 12.11.18
Libertex has added five new contracts for difference (CFDs) to its trading platform. CFDs on the following shares are now available with Libertex: Tilray (NASDAQ: TLRY), Canopy Growth (NYSE: CGC), Aphria (NYSE: APHA), Cronos Group (NASDAQ: CRON), and Aurora Cannabis (NYSE: ACB).
Reagents Global Market // 12.11.18
Based on Cronos Group’s (NASDAQ: CRON) most recent financials, the company’s return on equity is -3.15%. Cronos’ return on assets is -2.91%, with a -48.63% profit margin. Their P/S is 194.12 and P/B is 13.74.
Bloomberg // 12.11.18
With the 2018 Farm Bill due to pass any day, hemp companies have their eyes set on listing in the US. For instance, Vertical Cos. plans to spin-off its hemp assets into a new company called Vertical Wellness and list on the Nasdaq. Monday The Alkaline Water Co. (NASDAQ: WTER) (TSXV: WTER) debuted on the Nasdaq, and Charlotte’s Web Holdings Inc. (OTCMKTS: CWBHF) (CNSX: CWEB) is likely to pursue listing on a major US exchange.
Small Cap Power // 12.10.18
Namaste Technologies Inc. (TSXV: N) (OTCMKTS: NXTTF) recently announced its online platform generated a record-breaking unaudited gross revenue of over $2.6M in November 2018. Namaste experienced roughly 52% growth from October 2018.
New Cannabis Ventures // 12.11.18
Monday Xanthic Biopharma Inc. dba Green Growth Brands (CSE: GGB) announced it executed a definitive agreement to acquire 100% of the membership interest of Just Healthy LLC. This agreement will grant Green Growth a medical marijuana dispensary license and the option to acquire real estate in Massachusetts’ cannabis market.
Seeking Alpha // 12.11.18
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.
BNN Bloomberg // 12.11.18
According to Canopy Growth’s (NYSE: CGC) CEO Bruce Linton, institutional support is rising for the cannabis sector. Linton points to Constellation Brands and Altria, noting that future firms hoping to land partnerships will have to demonstrate strong corporate governance practices.
CNBC // 12.11.18
Despite Altria’s (NYSE: MO) $1.8B investment in Cronos Group (NASDAQ: CRON), CNBC’s Jim Cramer remains bullish on Canopy Growth Corp. (NYSE: CGC). With Canopy’s financial advantage over its competitors, Cramer argues that it is the best pick in the cannabis sector.
Weed News // 12.11.18
The leader in cannabis market intelligence, BDS Analytics, announced the launch of the industry’s first Cannabis Retail Price Index (CPI), which will serve as a benchmark of cannabis retail pricing.
BBC // 12.11.18
Former British Health Minister, Norman Lamb prevailed upon members of parliament to legalize the possession and consumption of cannabis. Lamb called for a more enlightened approach to cannabis reform, arguing that prohibition has not been successful in any part of the world.
Cannabis Europa // 12.11.18
There is no comprehensive European legislation on cannabis, despite the existence of the European Medicines Agency. Most member states still rely on national agencies for drug approval. One of the key factors holding back patient access to cannabis is the lack of reliable large-scale clinical studies. The French National agency for the Safety of Medicines and Health Products has a committee dedicated to medical cannabis within the country. The committee is expected to announce its first set of results before the end of the month. Meanwhile, many French political representatives are defending the rights of patients to access cannabis at the national assembly.
Reuters // 12.11.18
Thailand is set to become Asia’s first country to legalize medical cannabis, but the battle between foreign cannabis firms and locals is brewing. Activists are working to combat an influx of patent requests filed by foreign firms, arguing that it is illegal under Thai law to patent a plant-based product.
Leafly // 12.10.18
Despite the legalization of medical marijuana in the UK, the state legislature is written in such a way that was so unworkable it would be set up for failure. The exorbitant costs of using medical marijuana in the UK can add up to between 30% and 40% of the average yearly income. Import fees and licenses add to the cost of an already inflated price tag on medical cannabis. The small number of patients with a medical marijuana prescription are resorting to importing product from the Netherlands and others are turning to the black market to gain access to cannabis. In October of 2019 there is a chance the government will release permanent guidelines dictating the prescription of cannabis.
Omaha World Herald // 12.11.18
The Senate overwhelmingly voted to approve the 2018 Farm Bill on Tuesday. The nearly $900B package includes crop insurance, trade promotion efforts, and rural broadband expansion. Additionally, the bill allocates billions in farm subsidies and includes a provision which will legalize industrial hemp. The hemp industry is expected to grow into a $20B market by 2022. The legislation will now be passed to the House for a vote later this week, where it’s expected to pass and be sent to President Trump’s desk.
CNBC // 12.11.18
Governor Andrew Cuomo, NY, intends to create a program for regulated marijuana use in 2019. Over the past two months, the governor’s office has hosted sessions to judge community response to legalizing cannabis. Studies show that recreational marijuana could generate up to $436 million annually in tax revenue.
KARK // 12.10.18
Two years following the legalization of medical marijuana, businesses are ready to start capitalizing on the industry in Little Rock, Arkansas. Steep Hill Lab is almost ready to open doors in the city and start testing marijuana plants and products to make sure they are safe to be prescribed to patients. The lab is waiting on a state permit with the Department of Health which will be announced December 19th.
Politically Georgia // 12.11.18
Two Republican-led proposals in Georgia are recommending hemp farming and cannabis oil distribution to be legalized. As of 2015, Georgia allows registered patients to use medical marijuana, but there is no legal way to sell or transport it within the state. Legislators are hesitant to allow products other than those containing less than 0.3% THC on shelves for fear that it will lead to recreational marijuana consumption. A Farm Bill has been proposed to legalize hemp farming within the state, which many agree will boost the state’s economy and bring them into an international market.
Marijuana Moment // 12.11.18
West Virginia federal prosecutor Mike Stuart is holding a ‘Marijuana Symposium’ to discuss the impact of recreational legalization in Colorado. Stuart is openly opposed to legalization and his twitter feed reflects his disdain for marijuana use of any kind. The conference is held in West Virginia and will feature a guest speaker who is the president of a large prohibitionist group. The event will focus on Colorado’s experience with legalization and discuss released reports regarding intoxicated driving and adolescent cannabis use.
FOX // 12.11.18
A Fire Lieutenant in Hillsborough County in Florida has been accused of making cannabis oil at the Fire Station where he was employed. Witnesses found a ‘botanical extractor device’ which lead to the arrest Monday. The machine contained two marijuana plants and was halfway through the process of converting the plant into cannabis oil. The Lieutenant admitted to owning the extraction device and is facing a drug charge. He has been placed on administrative leave without pay and there will be an internal investigation.
Cannabis Chronicles // 12.10.18
The legislative agenda submitted by the Washington CannaBusiness Association highlights a number of key points in the growing industry in Washington state. The agenda seems a compliance program, allowing license holders to request assistance and inspections from the board to find flaws without threat of citation. The group asks administrators to overlook violations that occurred before June 30th 2018 when reviewing license applications. According to the association, the stipulation that outlaws out-of-state investment does not exist in any other state-regulated cannabis market and should be eliminated. The Association also seeks to align cannabis sale penalties with that of the alcohol industry standard. Limited merchandising and sale of non-THC products in recreational retail establishments is also listed as a suggested reform.
NJ.com // 12.11.18
This Thursday, representatives in New Jersey will meet with the Governor to determine an end to prohibition by the end of 2018. . A full-time Cannabis Regulatory Commission has been discussed to control the recreational and medical industries in the state. Many are holding out hope that the meeting on the 17th will lead to legalizing marijuana for adults over 21
Marijuana Business Daily // 12.11.18
In Oklahoma, the new program that began in late August has no numerical cap on business licenses and doctors can prescribe medical marijuana for any condition that they see will benefit from cannabis treatment. The surge of patients signing up for the program is leaving the state short in supply, causing rate for an ounce of flower to hit $400 or more. The current market in Oklahoma leaves the power in the hands of the growers but that is expected to change once the supply picks up the pace to meet the market demand.
Hartford Courant // 12.11.18
Nine medical marijuana dispensaries were approved to receive their license and open shop in Connecticut. This announcement will double the number of dispensaries in the state. In addition to access points, an increasing number of certifying practitioners have also showed their support around the state. The number of qualifying conditions increased from 11 to 31 for adults, and there are over 30 thousand patients in the state.
The Gazette // 12.11.18
Eight marijuana shops in Colorado Springs, CO were busted and police recovered more than $1.3 million dollars in unreported cash and 60 firearms were seized. At least six of the shops are owned by the same man, who has since been arrested under suspicion of selling cannabis for recreational use.
Las Vegas Now // 12.10.18
Regulators in Nevada have controversially selected a batch of 61 applicants to receive dispensary licenses. Questions regarding why so many applications were denied increase, as some question why the list of scoring is not being released.
USA Today // 12.11.18
Mayor of Chicago, Rahm Emanuel, wants to legalize recreational marijuana and open a casino to address the pension crisis in the city. Emanuel says that the revenue generated by marijuana legalization will go a long way to boost the city’s finances. Illinois Governor-elect is pro recreational legalization and is participating in the push to legalize cannabis statewide.
Baltimore Business Journal // 12.11.18
The Maryland Medical Cannabis Group has given two final licenses for dispensaries to start selling within the state. With the final two, 71 licensed dispensaries are in existence. Collectively, the sales generated in the first year reached over $96 million among the cannabis retailers in the state. 14 licensed growers and 16 processors produce all of the flower and infused products for all of the dispensaries. Over the last year, the number of patients has risen from 20,000 to 75,000 and growing.
Boston Business Journal // 12.11.18
Due to supply concerns, both recreational marijuana dispensaries in Massachusetts have limited individual customers purchases. One of the shops has limited customers to half an ounce, half of the state’s legal limit, and the other has limited customers to an eighth. Stores state that they are restricting purchases to ensure that they can serve as many customers as possible. Throughout the week following legalization, lines have been out the door and some customers have been waiting several hours to make their purchases. A third legal shop is opening this week in Salem, MA.
MG // 12.11.18
With shops officially open in Massachusetts, a spike in demand for cannabis testing has grown in the state. Four labs have opened their doors, prepared to test every product that reaches the consumer. Evio Labs, CDX Analytics, ProVerde Labs and MCR Labs are operating in the state.
CBS // 12.11.18
Gifting marijuana is creating a gray market in massachusetts following the recreational legalization last week. State law allows for an adult to give less than an ounce of marijuana to another adult. However, if there is money involved this constitutes as a sale, which is prohibited. Judges have to decide whether or not to prosecute cases that fall into this gray market.
Green Growth CPA // 12.10.18
Since the General Election on November 6, 2018, several California cities are considering the adoption of resolutions that would implement cannabis business taxes. This would be the first step to legalizing cannabis businesses. These cities could soon be permitting commercial cannabis activities: Adelanto, Moreno Valley, Banning, Solvang, La Mesa, Perris, Palm Desert, and Hemet.
CBC // 12.11.18
Retailers in Alberta are limiting store hours and withdrawing applications for cannabis licenses. Stock levels are short and when there is product on the shelves it quickly sells out. A limited amount of cannabis is available to retailers and the Alberta Gaming, Liquor and Cannabis is trying to implement an improved ordering system with little success. Despite the shortages, businesses are determined to keep their doors open and are hopeful they will be able to fill their shelves with product soon.
INFO News / 12.10.18
Vitalis Extraction Technology, the largest manufacturer of extraction equipment in North America, has been approved for a development permit in Kelowna, BC. 15 percent of the companies market is in Canada and Vitalis plans to grow with the rate of the cannabis industry in Canada.
Global News // 12.11.18
Montreal Airport clarifies their guidelines for flying with cannabis before the winter holidays. The limit to flying domestically with recreational cannabis is 30 grams and for medical marijuana patients, 150 grams. All international travel with cannabis is strictly prohibited, even if the country you are flying to has legalized marijuana.
Accesswire // 12.11.18
WEED Inc. (OTCQB: BUDZ), out of Tucson, AZ, announced their completion the first stage of a pilot study aimed to further refine standard operating procedures for DNA isolation and sequencing of cannabis genomes. The 5 year study will allow WEED Inc. to to develop a guided breeding program to extend comprehensive genomic resources for cannabis cultivation. In time, a database for “Comprehensive Molecular Breeding Platform” will be an encyclopedic knowledge base that is key to creating “designer” cultivars.
Leafly // 12.10.18
Many cannabis companies are trying out new methods of curing cannabis to stand out in an oversaturated industry. Some companies are going as far as to create and ‘curing units’ which are being marketed to small and large scale cultivators. Curing technology has many variables and one company out of Salt Lake City has created a freeze-dry unit that provides the consumer with a controlled curing device that shortens the cure process from months to just 24-36 hours. The company, Harvest Right, is working with growers and processors to further experiment with the technology, putting dry cannabis as well as hash and shatter into the freeze-dry units.