Daily Cannabis News Roundup | February 13, 2019

HighLights

ABA
Chairman Meeks, Ranking Member Luetkemeyer and Members of the Subcommittee, the American Bankers Association (ABA) is pleased to submit this statement for the record on the challenges of banking cannabis-related businesses and to share our views on the recently released discussion draft of the SAFE Banking Act...

Marijuana Moment
Doctors testifying about the opioid epidemic on Capitol Hill on Tuesday made clear that marijuana has medical potential as an alternative pain treatment option and that federal prohibition is inhibiting cannabis research...

CNBC
The company that helped Kylie Jenner make almost $1 billion from selling her branded products is now moving into the cannabis space, its chief operating officer told CNBC on Tuesday...

Stocks

The Morning Blunt
US and Canadian cannabis stocks were largely on the rise Tuesday after Aurora issued its quarterly earnings report during after hours trading Monday. Brett D. Marchand was appointed Aphria’s Senior Vice President of Supply Chain Monday...

Market Watch
Precision Extraction Solutions ("Precision"), a market leader in cannabis and hemp extraction technology, has been named the exclusive equipment supplier of Canapar S.r.L. ("Canapar") for the development and outfitting of its flagship extraction facility in Sicily, Italy...

Business Insider
Cannabis producer Aurora Cannabis dropped 2.51% to $6.99 per share early Tuesday after reporting lower second-quarter margins as production costs jumped and prices fell...

News Wire
Aurora Cannabis Inc. ("Aurora" or "the Company") (TSX: ACB) (NYSE: ACB) (Frankfurt: 21P; WKN: A1C4WM) today announced that the Company's construction of a 300,000 square foot expansion at the Edmonton International Airport is progressing well...

Bloomberg
Biome Grow Inc. is tying up a deal to source more than 80,000 kilograms of cannabidiol (CBD) over the next five years, in what the company calls one of the biggest such deals for a cannabis extract...

Boston Globe
The cofounder of California marijuana conglomerate MedMen, which last week scored a coveted contract from the administration of Boston Mayor Martin J. Walsh to...

News Wire
iAnthus Capital Holdings, Inc. ("iAnthus" or the "Company") (CSE: IAN, OTCQX: ITHUF) is pleased to announce that Pat Tiernan has been promoted to Executive Vice President of Operations responsible for the Company's operations across the United States...

Benzinga
International agricultural company Pyxus International Inc. PYX 32.91% , which also has extensive cannabis operations, reported its financial results for the fiscal third quarter after Monday's closing bell. The company also provided updates on the progress of its cannabis subsidiaries...

News Wire
The Supreme Cannabis Company, Inc. ("Supreme Cannabis" or the "Company") (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1), announced the release of its financial and operating results for the three and six months ended December 31, 2018...

Bloomberg
Liberty Health Sciences said an independent investigation determined a short-seller report that detailed numerous allegations of insider self-dealing and overpaying for certain assets “was materially inaccurate” and “should not be relied upon.”...

Market Watch
MediPharm Labs Corp. (LABS) (otcqb:MLCPF) ("MediPharm") a leader in specialized, research-driven cannabis extraction and cannabinoid isolation, is pleased to announce that its wholly-owned subsidiary, MediPharm Labs Inc...

Market Watch
Green Thumb Industries Inc. (GTI) GTII, -0.22% (otcqx:GTBIF) has closed on its acquisition of Connecticut-based Advanced Grow Labs LLC (AGL), previously announced on January 7, 2019...

Market Watch
Harvest Health & Recreation Inc.(CSE: HARV, OTCQX: HRVSF), a vertically integrated public cannabis company with one of the largest footprints in the U.S., announced the opening of its first Florida medical marijuana dispensary...

Market Watch
Harvest Health & Recreation Inc.(CSE: HARV, OTCQX: HRVSF), a vertically integrated public cannabis company with one of the largest footprints in the U.S., is now trading on the OTCQX under the symbol “HRVSF.”...

Globe and Mail
Breach of contract accusations are flying in both directions following the collapse of a $55-million agreement between Auxly Cannabis Group Inc. and FSD Pharma Inc. last week. The two cannabis companies were working together to turn an old Kraft Foods factory in Cobourg, Ont., into a large indoor cannabis growing facility...

News Wire
High Tide Inc. ("High Tide" or the "Company") (CSE:HITI) (Frankfurt:2LY) today announced that, subject to regulatory approval, the Company has been selected to assist with the establishment and operation of a retail cannabis store by a second winner...

Business

Marijuana Business Daily
Ryan Hudson co-founded The Apothecarium in San Francisco in 2011. On Monday, he agreed to sell the retail company and its assets to a Canadian wellness firm for a cool $118 million to help fuel future growth...

Global News

Forbes
Harvard Business School alum and retired Coca-Cola executive Vicente Fox was not big on weed during his time as president of Mexico – he served between 2000 and 2006...

The Guardian
The clue is in the name. The vast majority of cannabis sold in the UK these days is superstrong skunk, so called not just because it’s very potent in what it does to your brain, but because it’s also very smelly...

US News

Florida Today
Patients could soon be allowed to smoke medical marijuana, but they’d have to purchase pre-rolled joints with filters, under a measure approved by a key House panel Tuesday...

Crain's New York Business
In the coming weeks, longtime advocates for ending marijuana prohibition will be pushing for changes in the legalization bill that Gov. Andrew Cuomo recently introduced in his state budget...

CNBC
Colorado's regulated pot industry sales have topped $6 billion since legal recreational marijuana sales began in 2014 and taxes generated by the industry grew by nearly 8 percent last year, the state reported Tuesday...

California News

Monterey Herald
Following up on Monday’s plan to pull National Guard troops from the California-Mexico border, Gov. Gavin Newsom announced today as part of his State of the State address that he plans to send some of those troops north to tackle cannabis grows...

Mercury News
Stymied by limited access to investors, the Bay Area’s ambitious cannabis companies are turning to our weed-friendly northern neighbor for help – joining forces with Canadian partners to build and expand their brands here at home...

CBS Los Angeles
It has been about a year since California rolled out the legalization of recreational cannabis, and now that dispensary owners have had a whiff of the weed business, some say the cost of running a legal pot shop is burning through their profits...

NBC Los Angeles
t’s as easy as ordering a pizza. Throughout California, you can now have marijuana delivered to your door within minutes. But the NBC4 I-Team found that some pot delivery businesses are operating illegally...

NBC Bay Area
"What kind of high you looking for?" asks a man standing behind a case of cannabis concentrates that only a year ago would have required a doctor's note to purchase...

Canadian News

Globe and Mail
The Quebec government faced strong opposition as public consultations began Tuesday on its bill seeking to increase the legal age of cannabis consumption and ban it from all public areas...

420 Intel
Cannabis retailers across Canada have struggled to supply consumers with product since the country legalized recreational cannabis five months ago, and industry experts say that this trend is likely to last for a few years...

Science News

Tetra Bio Pharma
Tetra Bio-Pharma Inc. ("Tetra" or the "Corporation") (TSX VENTURE: TBP) (OTCQB: TBPMF), a global leader in cannabinoid-derived drug development and discovery, today announced accelerated development of its second-generation drug inhalation program for fibromyalgia and uncontrolled pain over the last months...