Hi,

A global fiber report highlights hemp's potential as a leading sustainable material, with countries like France and China leading in market size while the US quickly establishes its presence. A claim that Michigan acted unconstitutionally when it recalled products, was thrown out by a federal judge due to cannabis being illegal federally. So cannabis regulating agencies can hide behind s federal laws!

Interestingly, while Canada has embraced cannabis legalization, they've been somewhat slow to research its medical benefits. How is it possible that a country legalizes cannabis and accepts it as medicine yet still doesn't make efforts to study it thoroughly? While there is the potential for lawsuits, I think the amazing work done by organizations around the globe will wake the Canadian government up soon. :)

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

Have an extraordinary week!
Jessica

07/31/23
Cresco Labs [CSE: CL] and Columbia Care [OTC: CRLBF] mutually terminate planned $2B merger.
Green Dragon acquisition faces a fraud lawsuit by former owners over financial disclosure.
MariMed [OTCQX: MRMD] sues Nevada's Harvest Foundation for lost licenses pre-sale.
New York's Housing Works reports $12M in 6-month cannabis sales.
4Front Ventures [CSE: FFNT] [OTCQX: FFNTF] extends loan agreement, reduces interest payable.

08/01/23
MediPharm Labs makes first delivery of cannabis clinical trial material to US research partner and provides update on US FDA Status.
Avicanna Inc. (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) has closed on its acquisition of the Medical Cannabis by Shopper’s Business from Shoppers Drug Mart.
TerrAscend's [TSX: TSND] [OTCQX: TSNDF] Q2 revenue hits $72.1M, marking seventh consecutive growth quarter.
Minnesota residents can possess cannabis; sales start in 2025 by the state Office of Cannabis Management.
Christina Lake Cannabis [CSE: CLC] [OTCQB: CLCFF] sees 36% revenue growth in Q2 despite distillate price compression.

08/02/23
Hawthorne’s sales slump drags Scotts Miracle-Gro’s Q3 profits down.
New York's cannabis sales and tax revenues lag projections due to thriving unlicensed markets.
MariMed [CSE: MRMD] reports $900K loss despite $3.5M revenue increase YoY.
Scotts Miracle-Gro [NYSE: SMG] reports lower Q3 earnings due to decline in the hydroponic segment.
Turning Point Brands [NYSE: TPB] excels in Q2, driven by legal consumption rise.
Minneapolis adopts a "permissive" policy for marijuana retailers.

08/03/23
Story Cannabis Co. acquires a four-store chain in Arizona.
Innovative Industrial Properties, Inc. (NYSE: IIPR) delivered total revenues of approximately $76.5M in its second quarter of the year.
LEEF Brands, Inc. (OTC: LEEEF) has entered escrow on a $7M purchase of 1,900-acre Salisbury Canyon Ranch in Santa Barbara, California.