Class-Action Lawsuits Stacking Up In The Cannabis Sector | Canna Stocks Mixed | McConnell’s Marijuana CONUNDRUM

HighLights

CLASS ACTION LAWSUITS STACKING UP

The Morning Blunt // 12.18.18
From employee grievances to claims of defrauding investors, class action lawsuits against cannabis studies are yet another warning sign of the turbulence of the emerging cannabis industry. Class-actions have been filed against both Aphria (NYSE: APHA) and MedMen (OTCMKTS: MMNFF) (CNSX: MMEN) recently.

Stocks

Monday Trading Recap

The Morning Blunt // 12.18.18
Check out how cannabis stocks such as Tilray (NASDAQ: TLRY), Cronos (NASDAQ: CRON), Aurora Cannabis (NYSE: ACB), and Canopy Growth Corp. (NYSE: CGC) performed yesterday. Take a look to see how other cannabis stocks including Origin House (CSE: OH) (OTCQB: ORHOF), Isodiol (CSE: ISOL) (OTCQB: ISOLF), and Aphria (NYSE: APHA) (TSX: APH) fared.

Recap of Aurora's WIld Year

The Motley Fool // 12.17.18
Aurora Cannabis (NYSE: ACB) has set itself apart as one of the most controversial cannabis stocks in the sector. With an appetite for acquisitions, a big-time international partnership, and a massive cultivation project, the stock at first glance seems like a bullish pick. Digging a little deeper and you'll find an ongoing share-base dilution with an estimated 1B shares outstanding.

Tilray Signs LOI To Purchase CBD From LiveWell Canada Inc.

Business Wire // 12.17.18
Tilray Inc. (NASDAQ: TLRY) announced the terms of a binding letter of intent to purchase hemp derived CBD isolate from LiveWell Canada Inc.(CSE: LVWL). LiveWell will source CBD from the US and Canada to be used in Tilray wellness and medicinal products which will be distributed across North America. First supply is set to commence in February 2019.

Cannabis Plays for 2019

Yahoo Finance // 12.17.18
Yahoo Finance contributor Meredith Taylor is bullish on Canopy Growth Corp. (NYSE: CGC) (TSX: WEED), Wayland Group (CN: WAYL) (OTCMKTS: MRRCF), Tilray (NASDAQ: TLRY), Cronos Group (NASDAQ: CRON) (TSX: CRON), and Aurora Cannabis (NYSE: ACB). Her picks for up-and-coming stocks include Emblem Corp. (OTCMKTS: EMMBF), THC Biomed International (OTCMKTS: THCBF), Medical Marijuana Inc. (OTCMKTS: MJNA), Namaste Technologies (OTCMKTS: NXTTF), and HEXO Corp. (OTCMKTS: HYYDF) (TSX: HEXO).

Arcadian Fund Founder Talks Pot Stocks

Small Cap Power // 12.17.18
Arcadian Fund founder and CEO Mathew Nordgren argues that 75% of big canna stocks will underperform in 2019. According to the fund leader, iAnthus Capital Holdings Inc (CSE: IAN) (OTCMKTS: ITHUF), is likely to become the next market darling. Nordgren is also bullish on KushCo Holdings Inc. (OTCQB: KSHB), MedMen Enterprises (CSE: MMEN), and Acreage Holdings Inc. (CSE: ACRG.U).

Namaste Technologies Boosts Stake in Pineapple Express to 49%

Market Watch // 12.17.18
Monday, Canadian cannabis firm Namaste Technologies Inc. (OTCMKTS: NXTTF) (CVE: N) announced an agreement to purchase an additional 34% equity stake in Pineapple Express Delivery Inc. for CA$3.1M. The agreement brings Namaste's total stake in Pineapple Express to 49% with the right to purchase an additional 10% of the company.

Canadian Hemp Stocks to Watch

Small Cap Power // 12.17.18
Canadian hemp stocks are riding high from news that US Congress approved the 2018 Farm Bill, a piece of legislation which will legalize industrial hemp production. Charlotte's Web Holdings Inc. (CSE: CWEB) (OTCMKTS: CWBHF), EastWest Bioscience Inc. (TSXV: EAST), Naturally Splendid Enterprises Ltd. (TSXV: NSP) (OTCMKTS: NSPDF), and Hempco Food and Fiber Inc. (TSXV: HEMP) (OTCMKTS: HMPPF) are stocks that should continue to grow as they tap into the industry.

Business

Occupational Exposures Within Cannabis Industry

EHS Today // 12.17.18

The National Institute for Occupational Safety and Health (NIOSH), a subset of the Center for Disease Control and Prevention visited a cannabis production facility following a red flag raised by a union representative. Air and surface samples were taken at the facility to measure levels of organic compounds. NIOSH studied the fungal diversity and endotoxins produced by bacteria and collected worker health histories to complete their reports. The facility was instructed to install ventilation, isolate the decarboxylation process, review emergency exits and write a respiratory protection program. The NIOSH is expected to continue bridging the gap in compliance on occupational health and safety by visiting and reviewing more cannabis facilities.

ROOT’D INTERVIEW WITH CELESTE MIRANDA

Root’d Podcast ep. 73 // 12.17.18

 

Root’d Podcast conducts an interview with Celeste Miranda, CEO of the Cannabis Marketing Lab and publisher of numerous industry magazines. Celese talks about the 10 companies she partially owns and her experience as an entrepreneur in the industry.

 

VOICES OF CANNABIS PODCAST: KEITH STROUP, FOUNDER OF NORML

 

Heady NJ //

 

Voices of Cannabis podcast interview Keith Stroup one of the original founders of the National Organization for the Reform of Marijuana Laws (NORML) and is one of the lead advocates for marijuana in the world. Stroup discusses the formation of the group, their goals when they started and where they plan to go from here.

Cannabis Investors Aren't Who You Might Expect

Forbes // 12.17.18
Investopedia, a New York-based finance website tracked the habits of their readers to see which topics they were viewing the most. According to their findings, a whopping 57% of the interest in cannabis stocks came from a reader-base older than 35. With a majority of readers coming from Vermont, Nevada, and Florida, 45-60-year-olds were 25-30% more likely to be interested in pot stocks. Further, investors in the cannabis space tend have a more aggressive investing style and day-trader mind frame.

Dixie Brands Plans for National Footprint

Benzinga // 12.17.18
With more US cannabis firms feeling confident enough to list on public exchanges, investors are eyeing the growth opportunities in the sector despite recent selloffs. Dixie Brands (CNSX: DIXI.U) CEO Chuck Smith discusses the company's decision to recently begin trading on the Canadian Securities Exchange. Smith also tackles the company's future goals and explains his outlook on the US cannabis space.

Global Cannabis Partnership Adds Seven New Members

Benzinga // 12.17.18
Moday, the Global Cannabis Partnership announced the addition of seven new members, bringing its membership to 31. The new members include Cannvas MedTech Inc. (OTCMKTS: CANVF) (CNSX: MTEC), MediPharm Labs Corp. (OTCMKTS: MLCPF) (CVE: LABS), Compass Cannabis Clinic/ Starbuds Canada, Nutrasource Pharmaceutical & Nutraceutical Services, Strainprint Technologies Ltd., and YSS by Solo (TSXV: ALZ).

Global News

French Scientists Recommend Expanding Medical Marijuana Program

Marijuana Business Daily // 12.17.18


The French National Agency for the Safety of Medicines and Health Products (ANSM) launched a research committee that has recommended the authorization of medical marijuana. Currently, the only product allowed for consumption is Marinol. Sativex has marketing authorization but has yet to enter the market. The committee has a qualifying conditions list that includes chronic pain that is resistant to other treatments, epilepsy, oncology patients, palliative care and MS spasticity. While use of medical marijuana is being encouraged, the committee was clear that smoking was discouraged as an administration route. The committee is the beginning of a long process to lay the groundwork for marijuana based medicines in France.

British Man Faces Drug Trafficking Charges in Bali

BBC News // 12.17.18


A British man was arrested in Bali after receiving a package in the mail that contained 31g of cannabis oil. Indonesia has strict anti-drug laws and a history of jailing foreigners who do not take the laws seriously. The man’s lawyers are telling the judge that he is a drug user, not a drug trafficker, and while he is guilty of receiving the package, the drugs were intended for personal use. While drug smuggling and trafficking charges can carry the death penalty in Indonesia, the drug use charges will land him in jail for five to fifteen years in a Bali jail.

New Zealand Cannabis Referendum Held in 2020

News Hub // 12.17.18


Minister Andrew Little of New Zealand has confirmed that the cannabis referendum will be held at the 2020 elections. A University study shows that 76% of people are in favor of legalizing marijuana. The reform could net New Zealand around $240M in tax revenue, making the plan even more attractive to legislators in the country.

United Nations Talks About Cannabis

Forbes // 12.17.18
The Expert Committee on Drug Dependance (ECDD) under the World Health Organization (WHO) met in November to conduct critical reviews of cannabis and its numerous compounds. The WHO will continue to work with the ECDD in the coming year with hope to reach some formal decisions about marijuana.

US News

McConnell’s Marijuana Conundrum: Cory Gardner

The Hill // 12.17.18


The STATES Act proposed by Senator Cory Gardner of Colorado would create an exemption within the Controlled Substances Act that would restrict federal enforcement of prohibition in states that have reformed their laws. Senate Majority leader Mitch McConnell has previously stated that he has no plans to endorse the legalization of marijuana, creating questions surrounding whether he will allow the STATES Act to go to a vote.

NY GOV. CUOMO ANNOUNCES CANNABIS LEGALIZATION A TOP PRIORITY OF 2019

Leafly // 12.17.18
Reversing his longtime position against cannabis reform, New York Governor Andrew Cuomo called on state legislature to legalize and regulate recreational adult-use marijuana. During a speech given to the New York Bar Association on Monday, Cuomo announced his 2019 agenda outlining cannabis reform as one of his top priorities.

Ohio Loans Medical Marijuana Program $2.1M

Cleveland // 12.17.18


A state board in Ohio authorized a $2.1 million dollar loan to the medical marijuana program in the state. This money is to help kick off the industry which, is expected to be self supporting, and not ask for another loan from the state.

Medical Marijuana on the Nebraska Ballot in 2020

New York Times // 12.17.18


Two lawmakers in Nebraska started a petition to build on legalization efforts in the midwest, and to put medical marijuana on the state ballot in 2020. Nebraskans for Sensible Marijuana Laws are fundraising, polling, conducting information sessions and drafting language for new legislation in preparation for the reform.

MARIJUANA RECALLED in Denver FOR UNSAFE LEVELS OF MOLD & YEAST

CBS Local // 12.17.18
Denver cannabis producer Doctor’s Orders is voluntarily recalling all retail marijuana plant material, including pre-rolls, shake, and flower. The Denver Department of Public Health and Environment took samples of Doctor’s Orders dried cannabis and found potentially unsafe levels of yeast and mold.

Massachusetts Shuts Down Medical Marijuana Dispensaries Due to Pesticides

NECN // 12.17.18
The state of Massachusetts has issued a cease and desist and a quarantine order to medical marijuana dispensary M3 Ventures while it looks into concerns of pesticide use at its cultivation facility. Dispensaries in Mashpee and Plymouth are required to suspend sales until further notice.

California News

Cannabis Startups Trading Equity Stakes for Legal Services & Real Estate

Orange County Register // 12.17.18
Some California attorneys, landlords, and service providers are taking equity stakes in cannabis startups in exchange of services. This practice comes with a myriad of ethical, legal, and financial risks, least of which are potential federal trafficking charges. Landlords, lawyers, and other service providers looking to get rich quick may be preying on unknowing cannabis operators.

California Cannabis Regulations Could Limit Commercial Activity Between License Holders and Non Licensees

National Law Review // 12.17.18
The final version of the new proposed regulations for California's cannabis industry was released December 7. Section 5032 of the regulations substantially limits commercial activity between cannabis license holders and non-licensees. This could be incredibly detrimental to the industry given Section 5032's ability to stifle existing and new business relationships pertaining to white-labeling, contractual manufacturing, brand licensing, intellectual property licensing, use of software apps, and online services. Final approval of the regulations is expected by January 16, 2019.

LA Updates Phase 2 Cannabis Licensing Process

Canna Law Blog // 12.17.18
Los Angeles California's Department of Cannabis Regulation recently released an important Phase 2 licensing bulletin for Phase 2 licensee hopefuls. Those seeking temporary cannabis business licenses for non-retail operations should take a look at some of the criteria operators must meet in order to qualify. Temporary approval from the city is required before applicants can apply for state licensure, which will not be given out or renewed after December 31.

Assembly Bill Aims to Allow Cannabis Businesses Tax Deductions

Times Standard // 12.17.18
AB37, a bill co-authored by North Coast Assemblyman Jim Wood (D-Santa Rosa) would allow cannabis businesses to deduct standard business expenses on taxes. Currently, due to Section 280E and California's personal income tax law, cannabis businesses are not allowed to deduct basic expenses.

Superior Court Asks Judge to Block Highway Patrol from Assisting Feds

Marijuana Business Daily // 12.17.18


The San Francisco County Superior Court filed a class action lawsuit to block the California highway patrol from turning over seized assets from cannabis companies to the federal authorities. The lawsuit asks for an injunction to prohibit the highway patrol from turning over assets from lawfully operating cannabis companies to any federal agency. A ruling is expected as soon as February.

Canadian News

Canada’s First Clones are Now For Sale Online

Dopey Times // 12.17.18
Eight varieties of cannabis clones have popped up for sale online in Canada to adults over 19. The cost of the plant is $39.99 and shipping adds another $35 before state and federal taxes. The plants are shipped in a container with a LED to ensure the plant stays alive during transport. So far the plants are only approved to be shipped to Newfoundland and Labrador and regulated by the Newfoundland and Labrador Liquor Corporation.