65. A Very Canadian Pot Scandal with Jesse Staniforth
Jesse Staniforth, Editor of WeedWeek Canada, updates Alex and Donnell on breaking Canadian stories. There is no lack of scandal: Cannabis giant Canopy Growth fired founder and CEO Bruce Linton and CannTrust, a major licensed producer, is estimated to lose C$350 Million for ignoring the law. New regulations limiting THC in edibles exacerbate the over-packaging crisis. The country continues to battle the illicit market which is now also available online and is known by the cool name "MOMS" (mail order marijuana sites). Plus, Alex and Donnell discuss Jay-Z's partnership with Caliva.
Colorado Sen. Cory Gardner (R) said he has "pretty good confidence" Congress would enact major cannabis reforms this year. Gardner is a sponsor of the States Act which would protect state-legal industries and the Safe Banking Act which would allow cannabis companies to access financial services.
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Working closely with cannabis interests, Santa Barbara County has become California's legal growing capital. The world's largest (147 acres, about 130 football fields) and second largest (83 acres) pot farms will soon be producing bud in the wealthy seaside county. But the L.A. Times reports a backlash is underway.
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Steve White, CEO of multi-state operator Harvest Health & Recreation, told investors the company controls seven permits in Pennsylvania, enough to open 21 shops. Pennsylvania limits operators to five permits.
A Philadelphia Inquirer investigation found the company is "using loopholes" to control more of the market than law allows a company to own. These loopholes include "management service agreements" which enable companies to govern and profit from licenses they do not own.
In this week's Seeing Green column, I ask whether brands can compete in a market dominated by multi-state operators.
A new lawsuit alleges California delivery app Eaze uses wire and bank fraud to process credit and debit card payments.
The suit was filed by Canadian firm DionyMed on behalf of its American subsitiary Herban Industries which has a competing platform called Chill. Eaze called the allegations "false" and said the suit was an attempt to generate business for Chill and prop up its parent company's stock price.
New York state lawmakers are making a last ditch effort to legalize REC by Wednesday, the end of the legislative season.
Speaking to Bloomberg, a Canadian investorlost its chance to lead the global cannabis economy.
🍁In the latest issue of WeedWeek Canada, Jesse has everything you need to know about the long awaited rules for edibles and concentrates, expected to go on sale by the end of the year.
Opioid deaths climbed 23% in states which introduced MED laws between 2010 and 2017, according to a new study. It dampened hope after A previous study conducted with the same methods had found opioid deaths decreased in states which introduced MED laws between 1999 and 2010.
A writer at The Stranger (Seattle) thinks a device called a Vapegasm may be the worst cannabis product of the year, so far.
Investigate further in the U.K.'s Mirror.