Hi,

India is riding a wave of CBD popularity, marking a significant pivot in the country's stance. CBD in India is a massive market opportunity.

Over in Europe, Luxembourg welcomes cannabis as its parliament approves ownership and cultivation. It becomes the second EU country to do so following Malta’s lead.

A UC Berkeley poll reveals that psychedelic therapy is gaining traction, with over 61% of American voters supporting its legalization. Psychedelics could be the new cannabis! But it's not all green pastures; in Florida, the Attorney General is pushing back against a recreational marijuana proposal, arguing it misleads voters.

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Happy 4th of July!
Jessica

06/26/23
Anti-Legalization Groups Sue New York Over Cannabis Laws. Cannabis Impact Prevention Coalition, Cannabis Industry Victims Seeking Justice, and individuals file suit to roll back 2021 legalization law.
Glass House sues Catalyst Cannabis for defamation. Glass House Brands (NEO: GLAS.A.U) (OTCQX: GLASF) claims Catalyst defamed them by accusing them of illegal trafficking.
Ayr Wellness (OTC:AYRWF) deferred $69M debt payments for 2 years, extending terms to $96.9M. Interest rate adjustments agreed, $400K amendment fees.

06/27/23
New Jersey expands cannabis retail ownership and licensing. State legislature approves allowing individuals to have up to 35% equity in seven different retail licenses.
TerrAscend secures $25M loan and acquires third Maryland dispensary for $6.75M.

06/28/23
Canopy Growth faces stock slump and auditor resignations over operational concerns. Challenges mount for the Canadian cannabis giant.
New York intensifies crackdown on illicit cannabis sales, closing down shops in Syracuse. The effectiveness of civil approaches remains uncertain.
New York Marijuana Coalition demands faster issuance of cannabis business permits. Activists rally outside the Governor's office.
TerrAscend completes $20.5M private placement, generating funds for the company.

06/29/23
Canopy Growth sells property and assets to raise cash amid financial challenges. Company unloads properties to address debt and losses.
Tantalus Labs lays off staff and files for restructuring. Founder cites regulatory and tax issues in the industry.
Canadian cannabis sales growth slows down due to tightening competition, pricing pressures, and slowing demand. Industry faces challenges.
Reunion Neuroscience reports $48M loss but remains optimistic about psychedelic treatment development.
Curaleaf's New Jersey retail locations unionize. All locations join United Food and Commercial Workers (UFCW) Local 360.
CanadaBis Capital reports net revenue of $4.6M and net income of $0.9M for Q3. Positive financial results for the vertically integrated cannabis company.

06/30/23
Cannabis Social Equity Investment Fund receives a $150M boost from Chicago Atlantic Admin, LLC. The fund aims to support adult-use cannabis license holders in starting their businesses.
Island View Ranch LLC and Island Breeze Farms LLC face a lawsuit by Roots Properties alleging plant destruction, breaching a loan agreement. Roots Properties invested $400K in loans and $350K in credit.
TerrAscend Corp pays down $37M of senior secured term loan in Pennsylvania, reducing outstanding balance to $78M. Annual interest expense decreases by $4.8M.
Ispire Technology Inc raises $8M in private placement of common stock. Funds to support long-term growth, including manufacturing, R&D, and marketing. US Tiger Securities acts as the exclusive placement agent.