September 2 2021,
THE BIG IDEA
Happy long weekend everyone!
The last week of summer is traditionally one of the slowest of the year, but it didn’t stop cannabiz dealmaking as the industry consolidates at a feverish pace.
Here’s what we’ve got before your end of summer plans kick-in:
- Gov. Hochul steps on the gas in New York
- Lobbyists comments on Sen. Schumer’s legalization proposal
- TerrAscend snaps up Gage for $545M
WeedWeek will be off for Labor Day and resume on the 10th. Have a happy, healthy and well-deserved holiday.
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Cannabiz lobbyists weigh in on Schumer bill
Terrascend acquires Gage, becomes significant Mich. player
- Investment firm Entourage Effect Capital said it is raising a $150M private equity fund focused on later-stage companies.
- A consultant for Eaze who was convicted of fraud for tricking banks into processing pot payments got his forfeiture reduced from $17.2M to just over $100,000. Eaze was not accused of wrongdoing.
- Edibles containing the rare cannabinoid CBN, said to induce sleep, are proving popular with consumers.
- Texas company Hometown Hero CBD has developed a THC gummy it claims is legal in all 50 states.
- California’s top pot regulator Nicole Elliott discussed challenges facing the industry.
- Consumption lounges are off to a fast start in Illinois.
- Massachusetts surpassed $2B in annual sales.
- With unlicensed grows in the SoCal desert posing a threat to water supplies and public safety, environmental and policy groups are calling for illegal growing to be made a felony again.
Victorville Daily Press
- Merrill Lynch Wealth Management will be more open to cannabis-derived wealth.
- Pot stocks have had a lousy year since retail investors lost interest.
- Amazon is recruiting cannabis users to be delivery drivers.
- Double Blind posted “The tragic story of magic truffles.“
IN THE WEEDS
- The director of the U.S. National Institute on Drug Abuse, Dr. Nora Volkow, discussed legalization, psychedelics and more in a wide-ranging interview with Drug Policy Alliance founder Ethan Nadelman on his podcast Psychoactive. Marijuana Moment summarized key points.
- Data firm Headset published a report on the hardware — consumption accessories — market in the U.S. and Canada.
- I joined a stellar panel on online marketing, hosted by The Cannigma.
- Agency Studio 420 posted on the benefits of a social media competitive analysis for your business.
WEEDWEEK HIGH SOCIETY -- 9/3/21
Do your part to make High Society possible: Get vaccinated.
Jamie Warm, CEO of Henry’s Original, catches up with Lorenzo Nourafchan, CEO of Northstar Financial Consulting, at The 26, a senior-level networking event Northstar sponsored with law firm Goodwin Procter at a home in Beverly Hills.
Last week I misspelled Ophelia Chong’s name and regret the error.
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