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Global Cannabis and CBD News Roundup
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Hi,
Leafly, in collaboration with a cannabis company and an individual consumer, has raised concerns and legally challenged specific aspects of New York's newly adopted Adult Use Regulations. Their contention stems from regulations introduced by New York's Office of Cannabis Management (OCM) targeting "third-party platforms." These regulations restrict how retailers can market or promote their products and limit consumers' ability to compare prices among different retailers. In response to this challenge, the New York Attorney General's Office has temporarily halted the enforcement of the disputed regulations.
Meanwhile, up north, Canada's Canopy Growth, North America's largest cannabis enterprise, is stepping away from the sports drink sector as it couldn't compete with big names such as Gatorade. They're placing their BioSteel division into bankruptcy protection to attract potential buyers and reduce debt. They're also raising another $25M.
Thailand’s prime minister regrets allowing recreational cannabis and vows to change the law only to permit medical cannabis. Going from adult-use cannabis to strictly medical would be unprecedented in modern times. We recommend that the prime minister watch the movie Hangover II and learn to live without regrets. ;)
Feel free to subscribe to our Cannabis or CBD News Roundups.
Have a pleasant week!
Jessica
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Stocks and Startups Briefs
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09/18/2023
Vermont's cannabis marketplace has been open for a year, and is projected to top $100M.
Mydecine Innovations Group (NEO:MYCO) (OTC:MYCOF) Attempts to Raise Money With New Prospectus.
Maine: changes are coming to $300M medical cannabis industry.
09/19/2023
Subversive Capital Advisor Launches New Cannabis ETF.
Columbia Care (NEO: CCHW) (OTCQX: CCHWF) Changes Name to The Cannabist Company.
09/20/2023
Cornbread Hemp , a Kentucky Hemp Company, closed on the acquisition of an unnamed manufacturing partner.
Leef Brands (CSE: LEEF) (OTC: LEEEF), formerly known as Icanic Brands, completed the acquisition of a 1,900-acre ranch in Santa Barbara County for $5.48M.
Seelos Therapeutics (Nasdaq: SEEL) Reports Mixed Results From Phase II Ketamine Study.
Nevada Cannabis Compliance Board (CCB) approved a conditional license for a cannabis consumption lounge on the AREA15 campus.
09/21/2023
Tilray Brands to Announce First Quarter 2024 Financial Results on October 4, 2023.
Montana Marijuana Sales Hit New Record in August.
The Cannabist Company Holdings (NEO: CBST) (OTCQX: CCHWF) Secures $25M in Private Placement.
09/23/2023
Aurora Cannabis (OTCMKTS:ACBFF) Hits New 1-Year Low at $0.70
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