Stock Market
Canadian Cannabis Stocks Plummet in Response to Hints of Recession
Motley Fool // 12.6.18
Canadian cannabis stocks plummeted Thursday after news circulated about the growing concern for the health of the global economy. Top economists warn the US economy could enter a recession by 2020. The claim is largely supported due to the yield of the five-year treasury note falling below that of the three-year note last Monday. Aurora Cannabis (NYSE: ACB), Canopy Growth Corp. (NYSE: CGC), and Cronos Group (NASDAQ: CRON) all fell at least 10% in pre-market trading.
Altria Unlikely to Invest in Canadian Cannabis Sector
Seeking Alpha // 12.6.18
Rumors regarding Altria Group’s (NSYE: MO) interest in the cannabis industry may be far reaching according to Seeking Alpha’s Grant Beaty. With most of the company’s revenues generated in the US, Altria has explicitly stated that it will not invest in the sector until cannabis is federally legal in the US. Further, Canadian cannabis companies trade at huge valuations that are disproportionate to the value they’d bring to Altria.
Acreage Holdings to Acquire Edibles Company For $160M in Stock
Market Watch // 12.6.18
Acreage Holdings Inc. (OTCMKTS: ACRZF) (CSE: ACRG.U) announced Thursday that the company intends to acquire cannabis edibles manufacturer Form Factory Inc. for $160M in stock. Acreage was up 4.4% on the Canadian Securities Exchange at the end of trading on Thursday. The company expects the transaction to close in the first quarter of 2019.
TILT Holdings Acquires Two Cannabis Companies For $90M
New Cannabis Ventures // 12.6.18
TILT Holdings Inc. (CSE: TILT), a vertically integrated infrastructure and technology platform focusing on the cannabis industry, announced the acquisition of two companies, Blackbird Holdings Corp and Standard Farms, to expand the company’s cultivation and logistics capabilities.
Cresco Labs Enters Massachusetts Cannabis Market
New Cannabis Ventures // 12.6.18
One of the largest vertically integrated cannabis firms in the US, Cresco Labs (CSE: CL), announced a definitive agreement to acquire 100% of the share and membership interests of Hope Heal Health Inc. and an affiliated real estate entity. This segue into the Massachusetts market will add key assets to the company’s national footprint. Hope Heal Health assets include state licensing and registration that will allow for cultivation, manufacturing, processing, and the ability to establish and operate a dispensary.
Chemistree Technologies Acquires Global Rights to Sugarleaf Cannabis Brand Outside WA State
Proactive Investors // 12.6.18
Thursday Chemistree Technologies Inc. (CSE: CHM) (OTCMKTS: CHMJF) announced that it has signed an agreement with Sugarleaf Farms to acquire the global brand and marketing rights to the Sugarleaf brand outside of Washington.
Global News
Commission on Narcotic Drugs Meets to Discuss Scheduling of Cannabis
Cannabis Business Executives // 12.6.18
The Commission on Narcotic Drugs, the regulatory body that supervises the application and implementation of international drug control treaties and advises the United Nations on controlled substances, is responsible for amending drug treaties. The CND is currently gathered in Vienna Austria for a presentation of the Expert Committee on Drug Dependence’s recommendation about scheduling of CBD and cannabis. This is the final global meeting on cannabis before decisions being made at the UN’s highest-level Session on Drug Policy, scheduled for March 2019.
Israel Medical Cannabis Export Bill Passes First Vote in Parliament
Marijuana Business Daily // 12.6.18
The long-awaited bill that would allow Israel to export medical cannabis passed the first three crucial votes in the country’s Parliament. The bill still faces votes in the second and third readings before it can be presented to the Prime Minister for final approval. Experts believe the bill will only allow the export of processed and finished products, however which products have yet to be specified.
Supreme Cannabis Partners with Wiz Khalifa
New Cannabis Ventures // 12.6.18
Toronto-based cannabis investment firm, The Supreme Cannabis Company Inc. (TSXV: FIRE) (OTCQX: SPRWF) (FRA: 53S1) has entered into a consulting agreement Khalifa Kush Enterprises Canada ULC to develop and launch a premium cannabis product line. Khalifa Kush will provide cannabis consulting to Supreme who will be the exclusive provider of Khalifa Kush’s branded products in Canada and international markets.
Aurora to Supply Luxembourg with Medical Cannabis
Street Insider // 12.6.18
The Luxembourg Health Ministry has selected Aurora Cannabis Inc. (NYSE: ACB) to supply the country with medical cannabis through the company’s wholly owned subsidiary Aurora Europe GmbH. The country has placed an initial purchase order of approximately 20 kilograms that has been received.
Culture and Cannabis Clash in South Korea
Cannabis Wire // 12.6.18
South Korea voted to legalized medicinal cannabis, however the nation is shifting from an extreme hard line position. The move highlights a cultural confusion regarding cannabis – a sentiment shared by exchange students.
US News
State-By-State CBD Laws
The Street // 12.5.18
CBD popularity has grown recently, but where is it legal? The Street’s Steve Fiorillo dives into the legality, exceptions, and the future of CBD. In a state-by-state look at CBD laws, Fiorillo explores medical CBD laws and the requirements for medical licenses.
Pennsylvania Tosses Out All 8 Cannabis Research Applications
The Inquirer // 12.5.18
Wednesday Pennsylvania’s Department of Health rejected all eight research applications of marijuana growers who were set to partner with the state’s medical schools. According to regulators, the applications were riddled with mistakes and missing information. Some of the nation’s most successful cultivators failed to meet the rigorous requirements of the competitive review process.
Rhode Island to Consider Legalizing Cannabis 2019
Ganjapreneur // 12.5.18
Rhode Island lawmaker Rep. Scott Slater, who has sponsored several failed cannabis initiatives, announced his optimism for legalization in 2019. Gov. Gina Raimondo says she is open to the legalization and regulation of cannabis if there are safeguards to prevent child consumption
Nevada Governor-Elect Steve Sisolak Pushes For Cannabis Control Board
Las Vegas Now // 12.5.18
Politics Now Co-host Patrick Walker interviewed Governor-elect Steve Sisolsk in his first sit-down exclusive since winning the election. Insisting that business requires consistency and constancy in rulemaking, Sisolak is proposing a new cannabis regulatory structure for Nevada.
Green Growth Brands Granted 7 Nevada Cannabis Licenses
New Cannabis Ventures // 12.6.18
The Nevada Department of Taxation awarded Green Growth Brands (CSE: GGB) seven retail cannabis dispensary licenses to operate in Nevada, bringing the total number of dispensaries Green Growth operates to eight.
California News
Anaheim Raid Cracks Down on Illegal Dispensary
KTLA 5 // 12.4.18
Police raided a cannabis dispensary Tuesday in Anaheim California, seizing 120 pounds of marijuana-infused edibles, marijuana plants, and two pounds of THC concentrate. In previous attempts to shutter the business, city officials shut off the business’s electricity in October. To counter, the dispensary brought in a generator and continued to sell cannabis products without a license.
The Cost of Going Legal
SF Chronical // 12.6.18
Blunts+Moore, Oakland’s first cannabis dispensary to open under the new equity program, began selling flowers, vapes, and edibles last week. The founders discuss the process of the lottery in which they were selected to participate in the program, the lack of guidance from the state, the expenses associated with going legal, and their experience navigating the nascent industry.
Canadian News
Supply Shortage Stunting Retailer Revenues
Calgary Harald // 12.6.18
Supply shortages have stunted the revenue of some Canadian cannabis retailers like National Access Cannabis’ New Leaf, whose 18 retail locations only generated $3.95M in sales. When the moratorium on new cannabis licenses is lifted, National Access Cannabis hopes to open 75 stores across Alberta.
Science
Surgeon General Says Schedule 1 Status Inhibits Research
Marijuana Moment // 12.6.18
Thursday the US Surgeon General Jerome Adams voiced his concerns over marijuana’s Schedule 1 status. Adams says the status inhibits researchers from studying marijuana. Adams, who has previously stated his support for medical research on cannabis, made the comment at a Police Assisted Addiction Recovery Initiative conference in Massachusetts.