Daily Cannabis News Roundup | February 6, 2019

HighLights

Marijuana Moment
Newly empowered congressional Democrats reportedly plan to hold a House hearing next week on marijuana businesses’ difficulties accessing banks—signifying renewed momentum for cannabis issues on Capitol Hill following years of blockades by the former Republican leadership of the chamber...

The Hill
But emerging data also indicates that many patients similarly substitute marijuana for a variety of other substances, including alcohol, tobacco and benzodiazepines...

Market Watch
American views on marijuana have shifted incredibly rapidly. Thirty years ago, marijuana legalization seemed like a lost cause. In 1988, only 24% of Americans supported legalization...

Lexology
In mid-October 2018, recreational use of marijuana became legal across Canada. In advance thereof, on October 9, 2018, U.S. Customs and Border Patrol warned that if “[a] Canadian citizen working in or facilitating the proliferation of the legal marijuana industry in Canada … is found to be coming to the U.S. for reason related to the marijuana industry, [he or she] may be deemed inadmissible.”...

Forbes
In a public letter, dated January 24, from the Director-General of the United Nations' World Health Organization (WHO) Mr. Tedros Adhanom Ghebreyesus, to the UN Secretary-General António Manuel de Oliveira Guterres...

Canna Law Blog
Recently, we’ve been getting tons of questions from clients regarding the international import and export of cannabis around the globe. 2018 was a historic year for the cannabis industry not just in the United States, but also internationally...

Stocks

The Morning Blunt
Canna stocks had a tough Tuesday, with most US and Canadian cannabis companies falling into the red. Last week, Green Growth Brands (OTCMKTS: GGBXF) (CSE: GGB) appointed Brian Logan, CPA, as its new Chief Financial Officer...

Bloomberg
Matt Bottomley, director of equity research with Canaccord Genuity, said that there are some “justified criticisms” in the cannabis market after the release of several short sellers reports targeting Canadian pot companies that shouldn’t be ignored...

Midas Letter
Despite an outrageous on-open stop run in Aphria Inc (TSE:APHA) (NYSE:APHA) (FRA:10E) and the entire CDN Tier-1 cannabis complex, the former remains in sound technical condition...

Seeking Alpha
The week of Feb. 11-15 is the biggest week of the quarterly cannabis earnings calendar that I maintain on The Growth Operation. During this week, at least two - and possibly more - of the most valuable Canadian cannabis companies report their earnings...

Market Watch
Cronos shares CRON, -6.11% were down 6%, after GMP Securities lowered its rating to hold from buy and reiterated a stock price target of C$24 ($18) that implies 21% downside from its current trading level...

Bloomberg
Aphria Inc.’s () recent winning streak that saw its stock surge almost 50 per cent in a four-day span was snapped on Tuesday...

Global News Wire
Amyris, Inc. (Nasdaq:AMRS), a leader in the development and production of sustainable ingredients for the Health & Wellness, Clean Beauty and Flavors & Fragrances markets, today announced that it has signed a binding term sheet for a planned...

News Wire
iAnthus Capital Holdings, Inc. ("iAnthus" or the "Company") (CSE: IAN, OTCQX: ITHUF) and MPX Bioceutical Corporation ("MPX") (CSE: MPX;OTC: MPXEF) are pleased to announce the closing of the previously announced plan of arrangement...

Associated Press
Level Brands, Inc. (NYSE American: LEVB) (the “Company”) congratulates Kathy Ireland, CEO of kathy ireland Worldwide (kiWW) and Chairman Emeritus and Chief Brand Strategist of Level Brands, on her recent appointment to the board of the NFL Players Inc...

Market Watch
Green Thumb Industries Inc. (GTI) GTII, +8.53% (otcqx:GTBIF), today announced it has signed a definitive agreement to acquire For Success Holding Company, creator of the lifestyle suite of Beboe branded cannabis products and headquartered in Los Angeles...

Market Watch
Item 9 Labs Corp. INLB, +7.00% (Item 9 Labs or the Company), a leading developer and manufacturer of innovative cannabis products and proprietary delivery platforms, today announced it was ranked one of the fastest growing Arizona concentrate brands...

Market Watch
The Flowr Corporation (FLWR) FLWPF, +6.55% ("Flowr" or the "Company"), a Canadian licenced producer of premium cannabis products, announced today that it has submitted an application to list its common shares on The NASDAQ...

Market Watch
Emerald Health Therapeutics, Inc. ("Emerald") (EMH)(otcqx:EMHTF) has entered into a license with Indena S.p.A. ("Indena") of Milan, Italy, bearing certain exclusivity rights in Canada to use Indena's cannabidiol ("CBD") extraction technology, and contract manufacturing services for CBD extraction...

Market Watch
Tetra Bio-Pharma Inc. ("Tetra" or the "Company") (TBP) (otcqb:TBPMF), today announced that it has temporarily suspended its phase 3 clinical program due to impurities found in its PPP001 investigational drug being administered to patients...

Market Watch
MediPharm Labs Corp. (LABS) (otcqb:MLCPF) (the "Company" or "MediPharm Labs") the leader in specialized, research-driven cannabis extraction, is pleased to announce the appointment of Co-founder, Keith Strachan to President, with Founder, Pat McCutcheon continuing in his role as CEO and Chairman of the Board...

Business Wire
Cresco Labs (CSE:CL) (“Cresco” or “the Company”), one of the largest vertically integrated multistate cannabis operators in the United States, is excited to announce that its Mindy’s Kitchen brand has been ranked the top selling edible in Nevada according to Headset...

Financial Post
The ousted CEO of Namaste Technologies Inc. is threatening to take legal action after the cannabis company’s board of directions removed him from the position and launched a strategic review process to examine its options.

Seeking Alpha
Emerald announced a $5 million investment with EHN, a company that is 70% owned by Emerald's largest private shareholder EHS. Avtar Dhillon, Jim Heppell, and Punit Dhillon are directors of both Emerald (the public company) and EHS (Emereld's largest shareholder)...

Zacks
2018 was a crazy year for marijuana stocks. While many underperformed, the industry as a whole slowly began to gain legitimacy. After the mid-term elections, nearly two-thirds of the U.S. are now in favor of legal medical marijuana in some form...

Bloomberg
The Horizons Marijuana Life Sciences Index ETF reclaimed the C$1 billion ($761 million) mark on Monday. Assets in the fund had dipped as low as C$624 million on Dec. 21. The Horizons Marijuana ETF, better known by its ticker HMMJ, was the first exchange-traded fund to track the cannabis industry but it’s no longer the biggest...

Civilized
While marijuana legalization will certainly help increase the number of jobs in the cannabis industry, it can also benefit companies in adjacent industries. And you can look no further than Scotts Miracle-Gro to see the positive effects...

Benzinga
The year kicked off with New York Gov. Andrew Cuomo reiterating his promise to legalize recreational weed in the state during the first 100 days of his third term. Lawmakers in Connecticut introduced a bill to legalize medical weed, and in Minnesota, a bill to legalize adult-use cannabis is making its way through the State Congress...

New Cannabis Ventures
Emblem Corp. (TSXV: EMC, OTCQX: EMMBF) (“Emblem” or the “Company”) announces that the Ontario Superior Court of Justice (Commercial List) granted the Company’s motion for an...

Business

Boston Globe
Janey’s proposed ordinance, made public Monday in advance of the City Council’s Wednesday meeting, would effectively impose a two-year ban on larger marijuana companies backed by outside money...

Business Insider
A senior executive in UBS' fixed-income business in the US has left the firm, and instead has moved to California to open up gyms and invest in the marijuana and cannabis space...

Midas Letter
FOMO is back, and there isn’t one weedstocks investor who’s not celebrating. Outsized gains are everywhere, good news is being rewarded, and euphoric sentiments are commonplace...

Global News

Associated Press
EMMAC, (“EMMAC” or the “Company”) the European independent medical cannabis company, is pleased to announce that Malta Enterprise, the Maltese government’s exclusive agency focused on attracting inward investment and supporting enterprise in Malta...

Bradenton Herald
The country got a head start on competitors in December 2013 when it became the first in the world to regulate the cannabis market from growing to purchase, a move that has brought a wave of investment...

US News

7 News Boston
New Hampshire lawmakers considering whether to legalize recreational marijuana heard Tuesday from supporters arguing such a move is long overdue and opponents urging them to resist pressure from surrounding states...

Marijuana Business Daily
The head of an Oregon marijuana trade group hopes to convince state legislators to permit local cannabis companies to export crops and products to other states, but MJ attorneys said the plan faces huge legal obstacles...

Lexology
On January 17, 2018, Florida’s new governor, Ron DeSantis, delivered news that could supercharge the growth of Florida’s medical-cannabis industry. Governor DeSantis indicated he may drop the State’s appeal from a trial court’s ruling that the statutory cap on the number of licenses for “medical marijuana treatment centers” (MMTCs)...

Forbes
Voters in Nebraska could get the chance to make their state the next to legalize medical marijuana through a campaign that activists and lawmakers launched on Tuesday. The move to put a cannabis question on the state's November 2020 ballot comes about two weeks after a state Senate committee held a lengthy hearing on a bill to...

The Fresh Toast
Alaska—a beautifully scenic state that isn’t highly populated despite it having more coastline than any other U.S. state combined. Besides Alaska being known for its plethora of wild animals and breathtaking nature, it’s also known as a cool state that offers adults the opportunity to purchase, consume, and grow recreational cannabis...

Orlando Sentinel
high-profile effort to repeal the state’s ban on smokable medical marijuana morphed Monday into legislation that, according to the proposal’s author, would be worse for patients than doing nothing at all...

Business Insider
Grassroots Cannabis — a cannabis company that grows, processes and sells cannabis through its unique, vertically-integrated business model—announces that it will significantly increase its footprint across the United States by expanding into four new state markets...

Natural Products Insider
A Texas lawmaker introduced House Bill 1325 (“Hemp Farming Act”) the same day the nonprofit U.S. Hemp Roundtable urged a county prosecutor in the Lone Star State to “abandon your efforts to arrest, or otherwise prosecute as a crime, the purchase, possession or sale of hemp-derived CBD.”...

The Advocate
A New Orleans company is suing the Louisiana agriculture department for how it is handling the testing of medical marijuana, arguing the agency improperly rejected its bid to become the state’s independent testing lab...

ABC 15
In early 2017, Adam Wanko was getting desperate. He was battling throat cancer and undergoing chemotherapy. He was dropping weight fast -- 85 pounds in just six weeks...

New York Times
For months, the top-selling item at Fat Cat Kitchen was a cookie packed with chocolate chunks, dusted with salt flakes and infused with the stylish cannabis derivative cannabidiol, or CBD...

California News

Marijuana Business Daily
Los Angeles has finally begun awarding its second round of cannabis business permits, with those licenses going to growers, edibles makers and other nonretail companies that have long been part of the city’s marijuana supply chain...

Marijuana Moment
Former California Gov. Jerry Brown (D) is holding strong to his often-expressed negative view about marijuana consumers, saying in a new interview that they are lazy and that legalization is “purely for pleasure.”...

East Bay Express
Customers were greeted by name as they walked into Purple Heart Patient Center on a recent Friday afternoon. The Jack London district store is the longest operating cannabis retailer in Oakland, and it’s busy...

Canna Law Blog
On January 16, 2019, each of the three California cannabis agencies dropped a final set of regulations. In many senses, the Bureau of Cannabis Control’s (“BCC”) regulations were the most comprehensive and expansive...

Canadian News

Growth Op
When the CEO of an industry colossus like Canopy Growth Corporation was dropped as a client by the Royal Bank of Canada upon discovering his cannabis roots, things started looking grim for the country’s cannabis businesses...

The Leaf News
Winnipeg-based cannabis producer Bonify has had its federal licences to produce and sell marijuana suspended by Health Canada, a move the federal cannabis regulator says it took because "(Bonify) was possessing, distributing and selling product that was purchased from an illegal..

Science News

Bloomberg
A history of smoking cannabis has unexpectedly been linked to greater fertility in men. The result came as a big surprise to scientists measuring the sperm counts of more than 600 men from couples attending a fertility clinic...

Market Watch
Kalytera Therapeutics, Inc. (the "Company" or "Kalytera") today announced additional positive interim data from its ongoing Phase 2 clinical study evaluating cannabidiol ()CBD") for the prevention of acute graft versus host disease ()GVHD") following bone marrow transplant...