Daily Cannabis News Roundup | February 11, 2019

HighLights

Market Watch
ROCHON GENOVA LLP has commenced a class action in Ontario on behalf of shareholders of Aphria Inc. (APHA) APHA, -1.46% who acquired their Aphria securities between January 29, 2018 up to and including November 30, 2018...

Bloomberg
Former House Speaker John Boehner is leading a new pro-marijuana policy lobbying group that will focus on relaxing federal tax and regulatory policy while allowing states to take their own approaches on legalization...

Time
Democratic Sen. Ron Wyden of Oregon introduced the appropriately-named bill S. 420 on Thursday, that would legalize and regulate marijuana on a federal level. The Marijuana Revenue and Regulation Act, introduced into the Senate Finance Committee, of which Wyden is the Ranking Member...

Newsweek
The World Health Organization has suggested that cannabis should be downgraded, or "rescheduled," given the mounting evidence showing that the drug could prove beneficial in treating a number of health problems...

Green Market Report
Europe’s booming CBD market is at risk of going bust after food officials recategorised cannabidiol as a novel food, effectively outlawing its sale across the union. The European Food Safety Authority said the substance must undergo further testing before it is approved, a process which could take two years...

Stocks

Yahoo Finance
Canada’s two biggest cannabis companies report earnings this week, giving us the first glimpse -- however murky -- of what recreational sales look like. Aurora Cannabis Inc. reports fiscal 2018 earnings Monday morning and Canopy Growth Corp. reports Thursday after the close, followed by an analyst call on Friday...

Yahoo Finance
Tilray, Inc. TLRY is expected to release fourth-quarter 2018 results on Feb 12. In the last reported quarter, Tilray beat earnings expectations by 42.9%. The company went public in July 2018...

The Growth Op
Khiron Life Sciences Corp. has entered into an agreement with Canaccord Genuity Corp. and BMO Capital Markets as co-lead underwriters and joint book-runners, as well as Cormark Securities Inc., to increase the size of its previously announced “bought deal” financing from approximately $20 million to about $25.1 million...

Market Watch
As marijuana stocks have rallied recently, many investors have gotten in over their heads. Once they get in, some begin to realize their positions are too big and find it hard to figure out what to do next. On the other end of the spectrum are investors oblivious to the risks...

The Fresh Toast
It’s not that the cannabis industry is destined for failure, it’s more about these companies not being worth the paper they’re print on. Most Canadian pot stocks are overpriced. In other words, this business sector has a long way to go before it matures...

The Chronicle Herald
Canada's main stock index posted its fifth straight positive week of the year despite closing lower Friday. There was no clear direction on the day for North American markets, but the TSX has gained so far in 2019 after being so oversold last year, said Cavan Yie, a portfolio manager at Manulife Asset Management...

Seeking Alpha
The investment story on Aurora Cannabis (ACB) continues to play out as expected. Bullish investors are racing into the stock despite all signs that the cannabis market is going to face a fundamental oversupply scenario that ultimately hurts the stock...

Market Watch
With Aurora Cannabis Inc. and Canopy Growth Corp. reporting earnings in the coming days, investors should watch closely for losses due to their investments in other weed companies...

New Cannabis Ventures
Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition of a property in Sacramento, California...

Zacks
The marijuana industry is burning hot due to easing regulations on the once highly guarded drug, marijuana, for recreational and medical usage. In fact, Canada’s legalization of recreational cannabis among adults has spread strong optimism into the space...

News Wire
The Supreme Cannabis Company, Inc. ("Supreme Cannabis" or the "Company") (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1), is pleased to announce it has received approval from The Depository Trust Company ("DTC") of New York to make the Company's shares DTC eligible...

News Wire
The Green Organic Dutchman Holdings Ltd. (the "Company" or "TGOD") (TSX:TGOD) (US:TGODF) is pleased to announce that it has secured a cannabis supply agreement with the Ontario Cannabis Retail Corporation...

Market Watch
MedMen Enterprises Inc. (“MedMen” or the “Company”) (otcqx:MMNFF) is pleased to announce that it has closed its previously announced acquisition (the “Acquisition”) of Seven Point, a licensed medical cannabis dispensary located in the historic Chicago suburb of Oak Park, Illinois...

Market Watch
Acreage Holdings, Inc. ("Acreage" or the "Company") (otcqx:ACRGF) (0VZ) today announced that its subordinate voting shares have been listed on the open market of the Frankfurt Stock Exchange under the symbol "0VZ."...

Globe and Mail
The recently fired chief executive officer of Namaste Technologies Inc. is contesting his dismissal, alleging in a lawsuit filed this week that he was hastily and improperly removed from the cannabis company he co-founded in 2014.

The Street
More options are emerging, though, to make more targeted investments in refining cannabis to make vape oils, waxes and edibles. Among these emerging names, Valens GroWorks Corp. (VGWCF) (CSE: VGW) debuted its stock late last year on the OTCQB. The stock recently drew an outperform rating from AltaCorp Capital...

News Wire
FSD Pharma Inc.(CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) a licensed producer under the Cannabis Act, responded today to a press release by its former partner, Auxly Cannabis Group Inc. ("Auxly") to correct misleading claims...

News Wire
Sundial Growers Inc. (Sundial) is pleased to announce that it has received licence amendments from Health Canada for an additional 140,000 square feet of cannabis cultivation at its flagship facility in Olds, Alberta...

News Wire
Indiva Limited (the "Company" or "Indiva") (TSX:NDVA) (US:NDVAF) is excited to announce its first supply agreement with the Ontario Cannabis Retail Corporation ("OCRC"), doing business as the Ontario Cannabis Store ("OCS")...

New Cannabis Ventures
Village Farms International, Inc. (“Village Farms” or the “Company”) (TSX:VFF) (OTC: VFFIF) today announced its cannabis joint venture, Pure Sunfarms Corp. (“Pure Sunfarms”), through a competitive process, has been selected by, and has entered into a supply agreement with, the Ontario Cannabis Retail Corporation...

Business

Crains Chicago Business
As Illinois marches toward legalizing recreational marijuana under Gov. J.B. Pritzker, market pioneers who shelled out big money to gain an early foothold in the state's medical cannabis program are trying to keep the much larger recreational, or adult-use, business to themselves...

Motley Fool
According to Scotiabank, logistical issues are expected to allow the black market to control 71% of all Canadian cannabis sales in 2019, with this figure plummeting to 37% by 2020, once many of these packaging and regulatory red-tape issues are dealt with...

Law.com
Citing a “tremendous safety threat,” Florida Chief Financial Officer Jimmy Patronis is asking President Donald Trump to use his executive power to allow banks to do business with state-authorized medical marijuana companies...

Law.com Registering a federal trademark is still difficult for cannabis companies, according to intellectual property attorneys who work with the industry. Ed Weisz, a partner at Cozen O’Connor in New York, said the federal patent law allows for patents to be placed on plants...

Lexology
Cannabis and CBD-driven business format franchising is coming. Franchising in the United States has deep historical roots in a nearly endless array of industries, from Benjamin Franklin’s Franchise-esque Printing Business to the Singer Sewing Machine’s profit-share model...

JD Supra
In what might be its best chance of success yet, Congress is set to hold hearings on legislation addressing the problem of banking cannabis related businesses, including the Secure and Fair Enforcement Banking Act of 2017 or the “SAFE Act of 2017.”...

Digital Journal
Like any new class of product listed on the market, cannabis is experiencing all sorts of issues. Everything from stock valuations to market bubbles is under the microscope, and there are as many opinions as people involved...

Global News

Marijuana Moment
Mexico’s Senate released a report this week that lays out general considerations for lawmakers to keep in mind as the country moves toward legalizing marijuana for adult use...

C Tech
“I have never inhaled, never exhaled, never tasted, and never smelled cannabis,” says the current chairman of a high-flying Israeli cannabis company and former Israeli prime minister. Israel’s former prime minister...

Lovin Malta
A whopping majority of 66.6% disagree with making it legal for adults to use cannabis recreationally, a stark difference from the wide support decriminalising the drug received back in 2014...

Jamaica Gleaner
Jamaica’s decriminalisation of ganja in 2015 brought with it many expectations, one being the ability to export its hi-grade herb. With a relatively small marketplace (a 2016-2017 Jamaica Health and Lifestyle Survey says 17 per cent of Jamaicans use ganja), investors are eager to expand their market base beyond Jamaica’s 2.9 million citizens...

Lexology
Australia’s medicinal cannabis industry continues to flourish. Between November 2016 and 15 January 2019, the Office of Drug Control (ODC) has granted a total of 26 medicinal cannabis (cultivation and production) and 20 manufacturing licences...

Daily Mail
A 13-year-old epileptic boy whose case led to the legalisation of medical cannabis in Britain has been given his first legal dose the country...

US News

Cannabis Business Times
The Senate Judiciary Committee voted along party lines Feb. 7 to advance the nomination of William Barr for U.S. Attorney General to the full Senate floor. The final vote was 12-10, with Republican committee members supporting Barr unanimously...

WeedMaps
Acting U.S. Attorney General Matthew Whitaker on Feb. 8, 2019, blamed international treaty obligations for the delayed expansion of federally approved marijuana cultivation facilities for research purposes...

Boston Globe
If you want to open a marijuana business in Boston, the city’s website instructs you to follow a few seemingly simple steps: 1. Fill out an application. 2. Apply for a conditional use permit, which will be denied, because no area of Boston is zoned to allow marijuana businesses by default...

Civilized
Since Democrat J.B. Pritzker took over as Governor of Illinois, many in the state have worked to pass a recreational marijuana bill. And now the first bill to do so has finally been introduced. Illinois State Representative Carol Ammons introduced a bill to legalize recreational marijuana in Illinois...

Springfield News Leader
Missouri officials said Thursday that more than $3 million medical marijuana license fees have been paid since the state began accepting pre-filed applications a month ago...

Times Union
A new John Jay College of Criminal Justice report examined misdemeanor marijuana possession arrests from 1990 to 2017, breaking out data on New York City, upstate cities and the rest of the state. The analysis found wide disparities in arrest rates among race, gender and age groups...

CBS Albany
Border Patrol agents seized 3,000 pounds of marijuana Sunday with an estimated value of more than $2.3 million. Laredo Sector Border Patrol agents said they were inspecting a tractor pulling a flatbed trailer Sunday night around 10 p.m. when a Border Patrol K-9 alerted to the possible presence of illegal contraband in the vehicle...

Inverse
his week, state and local authorities cracked down on foods containing the increasingly popular cannabis extract cannabidiol, better known as CBD. Public health officials in Maine, New York City, and Ohio have banned sales of foods containing CBD, citing US Food and Drug Administration guidelines...

Boston Globe
State regulators have temporarily closed a medical marijuana dispensary in Acton after inspectors found dangerous violations related to security, sanitation, waste disposal, and product labeling, officials said Friday...

Pensacola News Journal
Saying hemp is poised to be a “multibillion-dollar industry in the state,” Agriculture Commissioner Nikki Fried on Wednesday appointed the state’s first cannabis czar. Fried, a Democrat elected in November who made increasing access to medical marijuana one of the cornerstones of her campaign...

Marijuana Moment
New Mexico lawmakers voted to advance a marijuana legalization bill out of committee on Saturday. The legislation, if it passes through the legislature and is signed into law, will allow adults 21 and older to possess up to two ounces of cannabis and up to 16 grams of marijuana extracts...

WeedMaps
A Pennsylvania lawmaker has introduced an adult-use cannabis bill, describing it as his state's most comprehensive bill of its kind to date and “a bold call to move Pennsylvania onto the right side of history and into the 21st century.”...

All On Georgia
The bipartisan House Bill 213 was filed last week by Representatives John Corbett, Carl Wayne Gilliard, Tom McCall, Robert Dickey, and Jimmy Pruett. McCall is Chairman of the House Committee on Agriculture & Consumer Affairs...

Metro News
The House Judiciary Committee overwhelmingly approved and sent to the House floor the medical cannabis program banking bill, HB 2538. The vote was 20-3...

California News

Marijuana Business Daily
California’s Bureau of Cannabis Control (BCC) announced further enforcement actions against unlicensed marijuana businesses. This sweep was against a pair of illegal retailers – one in Los Angeles and the other in Sacramento County...

North Bay Business Journal
Sonoma County officials expect a dip in cannabis tax revenue in the coming fiscal year, down from $3.5 million in fiscal 2017-2018. That was due to many cannabis businesses in the unincorporated areas failing to meet the requirements of the penalty-relief program...

SF Gate
The Contra Costa Board of Supervisors is set to decide Tuesday whether to approve a selection process for a set number of commercial cannabis permits for unincorporated areas of the county...

Canadian News

Ottawa Sun
The bagel queen of Wellington Street West says she doesn’t know what it will be like to have one of Ottawa’s first legal cannabis shops open across the street, but she’s optimistic...

Vancouver Sun
British Columbia may be famous for its bud but some say Canada’s new marijuana legalization framework is excluding the small producers with established know-how. A movement is growing in the province to address that problem with a common idea: cannabis co-operatives...

CTV News
Four months after recreational cannabis sales became legal in Canada, stores are running out of the product. One expert says it could take five years to get back on track...

Science News

Lab Roots
The endocannabinoid system (ECS) is a newly discovered, recently studied physiological system which interfaces with the brain and many other biological systems. It is so intertwined that the secret to many different chronic diseases could be in its dysfunction...