Insights

High Tide Inc. Acquires Queen of Bud

LOS ANGELES- In a strategic move to enhance its market footprint, High Tide Inc. (Nasdaq: HITI) (TSXV: HITI), a prominent Canadian cannabis chain, has announced the acquisition of the Queen of Bud brand, including its intellectual property, for $1 million. The transaction, which combines $100,000 in cash and the remainder in High Tide shares, is ...

March 15th, 2024|

Ohio’s Innovative Approach to Cannabis Reform: Funding K9 Transition with Tax Revenue

LOS ANGELES- In a forward-thinking move, Ohio legislators are deliberating a bill designed to smooth the transition for police K9 units in the wake of the state's cannabis legalization. The proposed legislation seeks to utilize cannabis tax revenue to fund the retirement and replacement of drug-detection dogs, a nuanced challenge faced by law enforcement as ...

March 14th, 2024|

atai Life Sciences Advances VLS-01, A Novel DMT-Based Treatment

LOS ANGELES- atai Life Sciences a biotechnology company specializing in mental health treatments, is making strides in the development of a groundbreaking approach to treating treatment-resistant depression. Dr. Srinivas Rao, the Chief Scientific Officer, recently shed light on the company's promising development candidate, VLS-01, in a discussion with Proactive’s Stephen Gunnion. VLS-01 is a novel ...

March 13th, 2024|

New Study Affirms Long-Term Safety of CBD for Dogs

NEW YORK- In an era where CBD products have surged in popularity for their health benefits in humans, a new study funded by the National Animal Supplement Council (NASC) brings promising news for our four-legged friends. According to research published in the journal *Frontiers in Veterinary Science*, hemp-derived CBD and other cannabinoids are not only ...

March 13th, 2024|

Virginia Advances in THC Detection

LOS ANGELES- The Virginia Department of Forensic Science (VDFS) has made significant progress in the development of reliable methods for detecting THC and other cannabinoids in blood samples, marking a pivotal advancement in forensic science amidst the evolving legal landscape of cannabis. Funded by the Department of Justice’s National Institute of Justice with an initial ...

March 12th, 2024|

Call for Enhanced Research and Surveillance on Ketamine Treatments

LOS ANGELES A recent publication in the Journal of American Medical Association (JAMA) Psychiatry has underscored the urgent need for increased research and surveillance in the realm of ketamine treatments. Authored by Dr. Samuel T. Wilkinson, Dr. Joseph J. Palamar, and Dr. Gerard Sanacora, the article casts a spotlight on the burgeoning use of ketamine, ...

March 12th, 2024|

North Carolina Welcomes Its First Adult-Use Cannabis Dispensary on Tribal Land

NEW YORK- In a groundbreaking move for North Carolina's cannabis industry, the Eastern Band of Cherokee Indians is poised to unveil the state's inaugural adult-use cannabis dispensary. Slated for an April 20th opening, this development not only signifies a notable shift in the region's approach to cannabis but also establishes the tribe as a frontrunner ...

March 12th, 2024|

Ohio Moves to Drastically Reduce Medical Cannabis Registration Fee to One Cent

LOS ANGELES- In a significant step toward making medical cannabis more accessible to patients, Ohio has announced plans to reduce the registration fee for medical cannabis patients to a nominal one cent. This move, aimed at providing immediate financial relief, precedes the state's ultimate goal of eliminating the fee entirely. The decision reflects a broader ...

March 3rd, 2024|

Verano Holdings Financial Highs and Lows in 2023

LOS ANGELES- Verano Holdings, a player in the cannabis industry, showcased a mixed financial performance for the year ending December 31, 2023. The company reported a significant revenue uptick, reaching $938 million, marking a 7% increase from the prior year's $879 million. This growth underscores Verano Holdings' expanding footprint and operational success across multiple states. ...

February 29th, 2024|

Revive Therapeutics Advances Clinical Research with Completion of Funding Round

LOS ANGELES- Revive Therapeutics Ltd. has successfully concluded the final tranche of its previously announced private placement, marking a significant milestone in the company's fundraising efforts. This move, detailed in press releases dated January 24, 2024, and January 31, 2024, saw the issuance of 33,917,428 units at a price of $0.035 per unit, culminating in ...

February 28th, 2024|

Utah Lawmakers Push for Protections for Medical Cannabis Patients

LOS ANGELES- In a significant legislative push, two key Utah state lawmakers are spearheading a bill aimed at safeguarding the rights of medical marijuana patients against discrimination by local governments. This initiative follows the 2018 approval of medical cannabis use by Utah voters, a measure that garnered nearly 53% of the vote, illustrating a shift ...

February 28th, 2024|

PharmaDrug Appoints New Chairman Amid Strategic Corporate Shifts

LOS ANGELES- PharmaDrug Inc. a  specialty pharmaceutical firm dedicated to the advancement and commercialization of controlled substances and natural medicines, including psychedelics and previously sanctioned drugs, announced a significant leadership restructure. The company confirmed the appointment of Dr. David Kideckel as Chairman of the Board, succeeding Robert Steen, who will continue in his role as ...

February 28th, 2024|

New Mexico Advances Psilocybin Research with Memorial Legislation

-LOS ANGELES- In a significant move toward exploring alternative therapeutic treatments, New Mexico Governor Michelle Lujan Grisham has signed Senate Memorial 12 (SM-12), initiating a comprehensive study on the therapeutic potential of psilocybin, the psychoactive compound found in certain mushrooms. The memorial, distinct from typical bill proposals, mandates the New Mexico Department of Health and ...

February 28th, 2024|

Germany Takes a Historic Step by Legalizing Cannabis for Adult Use

BERLIN- In a landmark decision last week, Germany's Bundestag moved to legalize the consumption and cultivation of cannabis for adults, marking a significant shift in the nation's drug policy. The measure, which was passed with a majority vote of 407-226, stops short of permitting commercial sales but introduces a legal framework for cannabis clubs, where ...

February 27th, 2024|

Avesta Ketamine and Wellness Partners with Veterans Affairs to Offer Free Ketamine Therapy to Veterans

LOS ANGELES— Avesta Ketamine and Wellness, a leading provider of innovative mental health treatments, has announced a groundbreaking partnership with the Department of Veterans Affairs (VA) to offer free ketamine therapy for eligible veterans. This initiative is set to address the critical mental health challenges faced by veterans, including treatment-resistant depression (TRD), post-traumatic stress disorder ...

February 26th, 2024|

Mississippi to Revoke License of Medical Cannabis Testing Lab After Rule Violations

LOS ANGELES — In a significant move that highlights the stringent regulatory landscape of the medical cannabis industry, the Mississippi State Department of Health (MSDH) has announced plans to revoke the operating license of Rapid Analytics, a key player among the state's medical cannabis testing facilities. This decision, disclosed in a press release on Thursday, ...

February 26th, 2024|

New York Cannabis Control Board Advances with Adult-Use Licenses and Research Initiatives

NEW YORK- In a pivotal move to advance the state’s cannabis industry, the New York Cannabis Control Board (CCB) approved the first round of adult-use cannabis business licenses and introduced draft rules for home cultivation. The board's actions, taken during their meeting on February 16, signal a significant step forward in regulating and expanding access ...

February 21st, 2024|

South Carolina Advances on Medical Cannabis

LOS ANGELES- In a significant legislative development, South Carolina's Senate has passed the Compassionate Care Act of 2024, propelling the state towards potentially establishing a medical cannabis program. However, this move, marked by stringent regulations, positions South Carolina at a crossroads, reflecting the state's cautious approach to a debate that has been both restrictive and ...

February 21st, 2024|
  • Ayr Wellness Announces Brand Launches in Massachusetts and Ohio

Ohio’s Recreational Cannabis Rollout Mired in Political and Legislative Hurdles

NEW YORK- Ohio's journey towards implementing a recreational cannabis program is encountering significant obstacles, as the state grapples with legislative standstills and political disagreements. Despite the recent legalization, the path to operationalizing the program remains fraught with uncertainty, primarily due to a mix of administrative rulemaking challenges and political gridlock. House Speaker Jason Stephens (R) ...

February 20th, 2024|

Florida Senate Advances Legislation to Ban Delta-8 THC

LOS ANGELES— In a decisive move, the Florida Senate on Tuesday passed legislation aimed at banning delta-8 tetrahydrocannabinol (THC) products while introducing new, stringent regulations on the state's burgeoning hemp industry. This unanimous decision reflects the legislature's growing concern over the unregulated proliferation of hemp-derived substances, particularly those appealing to minors. The bill, spearheaded by ...

February 18th, 2024|

South Carolina Senate Approves Conservative Medical Cannabis Bill

LOS ANGELES- In a pivotal move for medical cannabis legislation, the South Carolina Senate has passed a bill aimed at legalizing medical cannabis for individuals with certain serious health conditions. This decision marks a significant step toward providing relief for patients within a framework designed to maintain strict control over the drug's production and distribution, ...

February 15th, 2024|
  • Seizure of contraband and unauthorized items at Archambault Institution

Florida Advances Bill to Restrict Hemp-Derived Cannabinoids

LOS ANGELES- A significant legislative development occurred in Florida on Monday as a House legislative subcommittee moved forward with a bill aimed at regulating psychoactive hemp-derived cannabinoids, including Delta 8 and Delta 10 THC. House Bill 1613, sponsored by Republican State Representative Tommy Gregory, seeks to address the burgeoning market of hemp products that have ...

February 15th, 2024|

U.S. Virgin Islands Sets Stage for Adult-Use Cannabis Market

LOS ANGELES- In a significant move for the U.S. Virgin Islands, the territory's Cannabis Board sanctioned a comprehensive set of rules and regulations for the adult-use cannabis sector on Tuesday, marking a pivotal advancement since the legalization was legislated in January of the previous year. This long-anticipated approval by the board lays the groundwork for ...

February 15th, 2024|
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