Daily Cannabis News Roundup | January 11, 2019

HighLights

Marijuana firm MedMen, top execs face $20 million suit for allegedly breaching duties, enriching selves

MJ Business Daily
Cannabis industry retail giant MedMen Enterprises and its top executives face a $19.8 million lawsuit by an early investor group and former board member 

RUSH TO ENTER THE CANNABIS MARKET POSES RISK TO ENTIRE SECTOR

The Morning Blunt
Don’t say we didn’t warn you. With over saturation, black market competition,  and a rush to enter the market driving prices to rock bottom lows, it’s going to be hard for cannabis businesses to turn a profit this quarter. 

Stocks

TOKERS & JOKERS | CANNABIS STOCKS RALLY THURSDAY – NAMASTE TAKES A DIVE

The Morning Blunt
Thursday’s bull-rush had most US and Canadian cannabis stocks seeing green, with Namaste the day’s exception posting over a 10% loss.

Hap Sneddon discusses Aurora Cannabis

Bloomberg
Hap Sneddon, chief portfolio manager and founder of Castlemoore Inc., discusses Aurora Cannabis.

 

Globe & Mail
Vic Neufeld will step down as chief executive officer of Aphria Inc., sources say, when the cannabis grower finds a replacement for him, the company is expected to announce on Friday…

Green Growth Inches Closer to Aphria Bid Price on DSW Deal

Bloomberg
Green Growth Brands Inc. shares hit a record high Thursday after the cannabis company announced a partnership with shoe retailer DSW Inc., bringing the stock a bit closer to the valuation needed to proceed with its hostile bid for Aphria Inc.

Global Edmonton News Morning January 9, 2019, Peter Aceto, CannTrust

CannTrust
Peter Aceto discusses CannTrust’s medical foundation and what the future has in store for the company post-legalization.

These cannabis stocks will rock in 2019, GMP Securities says

CanTech Letter
But there are plenty of reasons to be bullish about cannabis, according to investment bankers GMP Securities, who are projecting outsized returns from the sector in 2019.

iAnthus Capital has a 168 per cent upside, Beacon Securities says

CanTech Letter
Cannabis company iAnthus Capital Holdings (iAnthus Capital Stock Quote, Chart CSE:IAN) has become the first to open a regulated dispensary in Brooklyn, New York

Harvest One now trading on the OTCQX in U.S. and plans for a big 2019

Proactive Investors
Harvest One Cannabis (CVE:HVT-OTCQX-HRVOF) Director of Investor Relations Colin Clancy joined Steve Darling from Proactive Investors to talk about the company’s new listing on the American exchange OTCQX trading under the ticker HRVOF.

WeedMD Grants Stock Options

Global News Wire
WeedMD Inc. (TSX-V:WMD) (OTC:WDDMF) (FSE:4WE) (“WeedMD” or the “Company”) a federally-licensed producer and distributor of cannabis, announced today that its board of directors has approved the grant of

Cannapharmarx acquires Alternative Medical Solutions as it prepares to re-entercannabis space

Company anticipates proactively seeking additional business opportunities with other companies operating in the legal cannabis sector in Canada.

Cannabis Retailer National Access Surpasses $10 Million Revenue since Legalization

10, 2019 /CNW/ – National Access Cannabis Corp. (“NAC” or the “Company”) (TSXV: META), today provided investors with a corporate and retail …

Business

More big consumer companies will bet on pot this year

… some regulations on other products derived from cannabis, including hemp, … Co. is extremely bullish about the prospects for cannabis companies.

Weeding out the Obstacles for Investing in the Cannabis Sector; from Legalization to Transparency …

As regulations change, such as the rescheduling of CBD and Hemp in the US, it is likely we will see and more and more smaller cannabis companies …

Despite Conflicting Evidence, A New Report Finds Legal Marijuana Does Not Impact Alcohol Sales

“We did this study because there is a lot of misinformation circulating about the impact of recreational marijuana legalization on distilled spirits and the …

TILT Holdings Expands Board and Appoints New Board Member from Red Bull North America

BUSINESS WIRE)–Jan 10, 2019–TILT Holdings Inc. (“TILT” or the … manufacture and sale of a broad range of products for the cannabis industry, …

Global News

New Danish Cannabis Export Regulations Very Positive for ICC; Auxly Uruguay Distribution Partnership Moves Toward Commercialization

Globe News Wire
ICC International Cannabis Corp. (CSE: WRLD.U) (FWB: 8K51) (OTC: KNHBF) (“ICC” or “International Cannabis” or the “Company”) is pleased to provide the following updates pertaining to Denmark’s Cannabis export regulations, as well as Auxly Cannabis Group Inc.’s (TSXV: XLY) (“Auxly”) acquisition of licensed Uruguayan Cannabis operator and CBD distributor, Inverell SA.

Captiva Verde Land Corp. Announces Agreement to Acquire Mexican CannabisLicenses, Land …

5, 2018 whereby the Supreme Court of Mexico has legalized Cannabis for all forms of adult use and the proposed issuance of one million common …

Is France Finally Moving Forward on Cannabis Law Reform?

France is the largest country in Europe that has, so far, not moved forward on cannabis law reform. That now may be changing. In mid-December ..

US News

Marijuana Legalization Bills Already Filed In Half A Dozen Red States For 2019 Sessions

We followed more than 900 pieces of cannabis legislation in 2018. Learn more about our marijuana billtracker and become a supporter on Patreon to …

Massachusetts Inching Closer to Licensing ‘Cannabis Cafes’

Massachusetts Inching Closer to Licensing ‘Cannabis Cafes’ … Control Commission before any pot cafes or home delivery businesses can open.

Cannabis commission seeks authority over controversial local payments

State cannabis regulators will seek greater authority to crack down on excessive payments cities and towns demand from marijuana companies in …

AR approves medical cannabis dispensary scores, advancing licensing process

Only one bank, the HomeBank of Arkansas, is willing to do business with the state’s medical cannabis companies, Little Rock TV station THV reported.

Medical marijuana bill will be introduced by Tennessee lawmakers

Two Republican state lawmakers announced Thursday they are in the final stages of drafting medical marijuana legislation, renewing the state’s …

Texas House Committee Recommends Passage of Legislation to Legalize and Regulate …

defining hemp in accordance with federal law, amending the Texas Controlled Substances Act to differentiate hemp from marijuana, and protecting …

California News

California’s unlicensed medical cannabis collectives now illegal as deadline passes

Back in early 2016, long before California voters approved Proposition 64 and legalized the recreational use of marijuana, many industry veterans in …

California collecting far less than expected in marijuana taxes

LOS ANGELES — Deep in Gov. Gavin Newsom’s new budget is a figure that says a lot about California’sshaky legal marijuana market: The state is …

CCT CET: Responsible Persons, “Collection & Remittance of Cannabis Excise Tax [“CET …

CCT CET – Responsible Persons – we see a constant barrage of complaints about how oppressive the cannabis regulatory structure in California has …

Risk too high in Public Banking for California Cannabis industry

What is the impact on California City’s Cannabis Industry? CALIFORNIA CITY – On Christmas Eve, a proverbial lump of coal was placed in the …

County moves forward on efforts to regulate cannabis industry

California voters approved the legalization of adult-use recreational cannabis in 2016. After lengthy discussion at Tuesday’s meeting, board members …

Canada

CANADA’S LEGAL CANNABIS DRIVES PRICES UP 17%, GOVT STATS SAY

Eyewitness News
Since legalisation of recreational use last October, prices have jumped to Can$8.02 per gram from Can$6.83, Statistics Canada said in a news release late Wednesday.

Science News

Part 4, The Latest in Cannabis Research: Winter 2018

To address cannabis’ impact on gastritis, researchers assessed the hospital discharge records from over 60,000 alcohol-abusing patients across the …

News Wire
The Lung Association – Ontario and Tetra Bio-Pharma are excited to be partnering to fill that gap by funding a research program that will investigate various health impacts of cannabis use.