Hi,

HHS is recommending the DEA reclassify cannabis from Schedule I to III. This would have major tax implications, saving cannabis businesses money and making banking much easier, among other things.

There was a slight rise in Q2 cannabis sales in California, but it still lags behind other states in purchases per capita, as an article analyzes. Regulatory hurdles and a robust illicit market are to blame.

Despite a slump in domestic sales, Canada's cannabis exports shot up by 50% to CAD $160 M in 2022-23. So, the Canadian government is the world’s biggest exporter of cannabis. Just for fun, we used AI to create images of Justin Trudeau morphed with Pablo Escobar. :)

Feel free to subscribe to our Cannabis or CBD News Roundups.

Happy Labor Day!
Jessica

08/28/23
Veritas Farms (OTCQB: VFRM) acquires ASYSTEM, boosting revenue with viral products and partnerships; leadership team remains.
Planet 13 Holdings (CSE: PLTH)(OTCQX: PLNHF) acquires VidaCann in a $48M deal; VidaCann shareholders gain 26% ownership in Planet 13.
Cansortium (CSE: TIUM.U) (OTCQX: CNTMF) reports 9% Q2 revenue growth, hitting $24.4M.
PA Court dissolves Parallel’s subsidiary, Goodblend Pennsylvania LLC, over $5.8M rent debt to Innovative Industrial Properties Inc.

08/29/23
New York Judge freezes all cannabis licensing, rejects exemptions for 30 retailers.
RIV Capital (CSE: RIV) (OTC: CNPOF) releases financials for three months ending June 30.
Silo Wellness (CSE: SILO) (OTCQB: SILFF) acquires NUGL Inc. in a $31.76M deal.
Indiva (TSXV: NDVA) reports Q2 net revenue of $5.52M, down 20.3% from Q1.
Green Check joins forces with PFCU, a Michigan credit union, to provide full financial services to legal cannabis businesses, streamlining banking for local communities.

08/30/23
StateHouse's Q2 net revenues drop to $25.3M, but gross margins improve to 49.9%.
Entourage Health (TSX-V: ENTG) (OTCQX: ETRGF) announces 1% revenue increase to $13.37M in Q2.
Simply Better Brands (TSX: SBBC) (OTCQB: PKANF) posts 40% Q2 revenue growth at $23.6M.

08/31/23
Frontier Risk Group secures $3.1M in funding, supported by Casa Verde Capital, amid cannabis rescheduling news.
Oxford Cannabinoid Technologies Holdings plc (LSE: OCTP) maintains a cash reserve of $2.9M for drug development tests.
Cannabis financier XS Financial (OTCQB: XSHLF) reports an 80% revenue increase in Q2.
SOMAÍ Pharmaceuticals gets EU-GMP certification, raising $5.39M for global expansion in the medical cannabis market.