Hi,

Federally approved cannabis banking will not happen in 2022, with plenty of blame to go around. I don't think Republican politicians are THAT against cannabis banking as they have their own legalization bill, and banks in all 50 states have endorsed SAFE banking. Also, law enforcement favors it as cashless transactions will mean fewer armed robberies. While Congress has a 22% approval rating, we rarely vote them out, which encourages stalemates to make the president look bad. This turns our political system into a high-stakes poker match instead of a service to the public. That being said, the Senate Democrats deserve some of the blame as they wasted valuable time with a legalization bill that was never going to pass. They also reduced SAFE Banking’s chances with infighting due to equity provisions. Ironically, given that Republicans control the House, any cannabis banking that passes in the next two years definitely won't have equity provisions.

Nationally, cannabis production is booming, which means lower prices for consumers but unfortunately less profits for businesses. Quebec is accepting insurance for psilocybin (magic mushrooms) therapy! We expect this trend to grow.

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Get Ready for 2023!
Jessica

2022-12-19
FloraWorks Holdings Inc. announces closing of its series A financing with lead investor BVE Select Fund II, L.P.
Hill Street Beverage Co. Inc. (TSXV: HILL) (OTC Pink: HSEEF) is waiting for approval from the TSX Venture Exchange so that the company can complete a non-brokered private placement for gross proceeds of up to C$700,000.
Cresco Labs (OTC: CRLBF) announces it will be an anchor partner in 1871’s Cannabis Innovation Lab.
Avant Brands Inc. (TSX:AVNT) (OTCQX:AVTBF) enters binding share purchase agreement with F-20 Developments Corp. and will acquire the remaining 50% equity stake in 3PL Ventures Inc. for $15M.
Paragon Coin sets up fund to return a minimal sum to investors.

2022-12-20
Agrify Corp. (Nasdaq: AGFY) announces closing of its previously announced underwritten public offering with net proceeds of $8.2M.
LeafLink lays off 80 employees, approximately 30% of its staff.

2022-12-21
New Leaf Ventures Inc. (CSE: NLV) (OTC: NLVVF) enters into amalgamation agreement with High Profile Holdings Corp. and will acquire all of High Profile’s issued and outstanding common shares.
Greenway Greenhouse Cannabis Corporation (CSE: GWAY) (OTC: GWAYF) enters into a binding third-party purchase and sale agreement worth C$7.5M for the sale of a surplus greenhouse.
SNDL (Nasdaq: SNDL) and Nova Cannabis (OTCQB: NVACF) revise terms of their pre-existing relationship.
Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) closes on financing deal that will provide $71.5M in funds.
RIV Capital’s (OTC: CNPOF) largest shareholder, JW Asset Management, calls for special meeting of shareholders in order to replace five of the seven directors on the board.

2022-12-22
Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) closes on commercial loan worth $18.9M secured by a West Virginia cutivation and manufacturing facility.
Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) also announces settlement with federal government in worker death investigation. The company will increase worker protections at manufacturing facilities across country.
MediPharm (TSX: LABS) (OTCQX: MEDIF) (FSE: MLZ) and VIVO Cannabis Inc. (TSX: VIVO) (OTCQB: VVCIF) on path to to merge next year in an all-equity deal.