Hi,

After a slow start, New York is gearing up to open cannabis applications to everyone this fall. While words like inclusivity are being thrown around, this sounds like the opening bell for multi-state operators. While the goal was to get licenses to equity applicants first, it seems that the only inclusivity is in the illicit market. Licensing delays and lax enforcement have encouraged thousands of small, unlicensed cannabis shops to sell untested, copyright-infringed products with impunity.

While the DEA just fired an agent for using full-spectrum CBD (which had traces of THC), congressional researchers think the DEA will likely follow the recommendation of the HHS and reschedule marijuana from I to III, affecting everything from taxes to immigration.

Germany took another step in its quest to make recreational-ish cannabis. If the US reschedules cannabis, North America would be pro-cannabis, with Mexico and Canada having already flipped. I bet that international drug treaties would change, and EU politicians would pretend to be diehard tokers, trying to hang out with the USA like we were the 'cool arrogant kids' in high school. You might assume that Canada would be regarded as "the cool country" since they were the first to legalize. But let's be real. It's Canada, so that's not happening. Sorry, Canada hit the gym, and better luck next time. We've got a date for the prom with Italy. ;)

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

Have a brilliant week!
Jessica

09/11/23
Trulieve [CSE:TRUL] [OTCQX:TCNNF] files racketeering lawsuit against former employees, vendors in Arizona, alleging kickback schemes for shelf space at its 21 Arizona cannabis shops.
Connecticut Cannabis Sales Reach $25M in August; concerns arise about testing capacity with one lab closed.
Maine Adult-Use Cannabis Sales Exceed $21M in August, totaling $140.1M for the year.
Leafly Holdings [NASDAQ:LFLY] undergoes 1-for-20 reverse stock split, trading as LFLY from Sept. 12.

09/12/23
Lucy Scientific [NASDAQ:LSDI] acquires BlueSky Wellness in an all-stock deal.
International Star [OTC:ILST] purchases a 20% stake in film production firm B Studios, expanding presence in cannabis-themed entertainment.
U.S. Virgin Islands introduces draft cannabis regulations for public comment.
The Bettering Co. secures $6.7M in funding, set to launch THC-infused gummies in Illinois dispensaries in fall 2023.
Branded Legacy (OTC: BLEG) partners with Novus (OTC.PK: NDEV) for affordable plant-based meds, exploring cannabis's medical potential.

09/13/23
Colorado cannabis sales rebound, reaching $137.3M in July after an earlier 2023 dip.
New Mexico set a new sales record with $48M in cannabis sales in August.
Missouri sees lower cannabis sales in August, its worst month since market launch.
California awaits Gov. Gavin Newsom's signature on a bill legalizing cannabis cafes.

09/14/23
Canopy Growth ceases funding for BioSteel Sports Nutrition unit; BioSteel initiates proceedings under Canada's Companies' Creditors Arrangement Act.
Oklahoma Supreme Court declines to rule on medical cannabis license fee hike.
High Tide [NASDAQ:HITI] reports record revenue of $92.13M and free cash flow of $3.04M but posts a $2.59M loss in Q3.
Safe Harbor Financial [NASDAQ: SHFS] loans $3M to a THC-infused beverage firm for California expansion, securing it with the Washington plant.