Global Cannabis and CBD News Roundup YouTube

California and Oregon are taking steps toward interstate commerce but this might cause the federal government to withhold funding. It could also create havoc for the industries of other states by flooding neighboring states with low-cost cannabis.

Good news! The IRS recently released new guidance on tax deductions for cannabis-related expenses. This is more beneficial to manufacturers and cultivators than dispensaries due to 280E restrictions.

A recent bankruptcy case of a Massachusetts cannabis company employee was dismissed because their income was derived from the cannabis industry. In another case, a California court allowed a cannabis company to access bankruptcy benefits, saying the company had removed its wholesale cannabis product manufacturing and packaging business by the time it had filed, and was not looking to reorganize as a cannabis business.

While these cases highlight some of the unique legal challenges faced by the cannabis industry, it looks like we are making progress. :)

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I hope your week is rad!

Weekly News
Good News from IRS: Cannabis Operators May Be Eligible for Business Income Deduction More at
California Wants Interstate Cannabis. That Could Backfire. More at
Cannabis Ruling Offers Narrow Path to Bankruptcy Perks More at
MA Bankruptcy Court Dismisses Cannabis Company Employee’s Chapter 13 Case More at
Thco Is a Schedule 1 Controlled Substance Says DEA More at
Twitter’s New Cannabis Advertising Policy Still Doesn’t Allow Ads For Cannabis Product Sales More at
Despite Soaring Death Rate from Opioids, Alberta Steers Away from Harm-Reduction Approach More at
California Declares $20M Program To Expand Cannabis Accessibility In Underserved Areas More at
Virginia Republicans Move to Defund State Cannabis Regulator More at
Trulieve Adds $5.5M to Florida Recreational Pot Ballot Initiative for 2024 More at
Opinion: Native American Cannabis Businesses Spread across United States More at
Leaked Files Show How a Putin Ally Bankrolled the US Cannabis Industry More at
Why Is Lesotho’s Cannabis Boom Failing to Deliver the Prosperity It Promised? More at
Illegality Doctrine Rejected in Legal Cannabis Patent Case, Confirming Patent Enforceability More at
Cool Finds
The Exit Drug | Full Documentary More at
Archaeologists Find Ancient Ayahuasca and Cocaine Cache in South America More at
Stocks and Startups Briefs

Forian Inc. (NASDAQ: FORA) software BioTrack acquired by venture capital-backed Alleaves.

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) to be the first cannabis company to advertise on Twitter.
International Cannabis Market Revenue to reach $76B by 2027.

AmeriCann Inc. (OTCQB: ACAN) reports positive net income for the past four quarters; adjusted EBITDA growing to over $1.5M.
Cannabis Extraction Equipment Market to grow to $22.16B by the end of 2028.
Auxly Cannabis Group (OTCMKTS: CBWTF) closes private placement for 96 million shares, resulting in total gross proceeds of about $3.36M.
Petalfast : a route-through-market platform adds Freshly Baked to portfolio.
California establishes an accessibility program to expand cannabis retailer licensing to underserved areas, with $20M in funding.
Khiron Life Sciences Corp. (TSXV: KHRN) (OTCQX: KHRNF) (WKN: A2JMZC) secures loan with one of Colombia's largest banks.

Cash-strapped ECGI buys distressed East West Pharma Group.

New York estimated to add 63K jobs in the cannabis industry by 2025.