Insights

NEW YORK- In a recent development that has stirred the Canadian cannabis industry, Health Canada has announced a pivotal decision affecting Organigram Holdings. The federal agency has reclassified the company's Edison Jolts lozenge products from extracts to edibles. This decision has brought about considerable disappointment for Organigram, as extracts are generally seen as more profitable ...

LOS ANGELES- In a groundbreaking legal case in New Jersey, the debate over off-duty cannabis use by law enforcement officers brings to light the complex interplay between state legalization and federal restrictions. Jersey City has become the focal point of this legal struggle, potentially setting a precedent that could influence the relationship between state policies ...

LOS ANGELES- In an effort to resolve ongoing legal disputes surrounding its medical cannabis licensing process, Alabama has introduced a bill proposing an increase in the number of available licenses. Filed on Tuesday, the legislation aims to broaden the scope of medical cannabis dispensary, processor, and integrated facility licenses. This move is seen as an ...

NEW YORK- Delaware lawmakers have passed a significant bill aimed at broadening access to the state's medical cannabis program. On Thursday, the Delaware Senate approved a proposal that grants healthcare providers the discretion to certify patients for medical cannabis use. Additionally, the bill introduces a groundbreaking provision allowing individuals aged 65 and older to self-certify ...

LOS ANGELES – In a significant move that underscores its commitment to innovative medical research, Algernon Pharmaceuticals Inc. announced its decision to prioritize its AP-188 ("N,N-Dimethyltryptamine" or "DMT") stroke research program. This announcement follows the successful sale of its Ifenprodil research program, marking a strategic shift towards exploring groundbreaking therapies in the treatment of stroke. ...

TAMPA –Psilera, a biotechnology company specializing in novel treatments for complex neurological disorders, has announced the addition of Dr. Magali Haas, M.D., Ph.D., to its Board of Directors. Dr. Haas, with an illustrious career spanning major roles at industry giants such as Janssen and Johnson & Johnson, as well as in biotechnology and mission-driven nonprofits, ...

LOS ANGELES- In a significant moment for cannabis policy in the United States, Florida and Virginia stand on the precipice of joining the expanding roster of states with legal cannabis markets. Despite facing distinct legislative hurdles, both states are navigating through a critical juncture that could reshape their approach to cannabis legalization. Florida: A Ballot ...

LOS ANGELES- In a notable advancement for the cannabis industry, legal sales in the United States are forecasted to exceed $31 billion this year, according to an economic forecast from Whitney Economics, a consultancy specializing in the cannabis and hemp sectors. This projection indicates a substantial increase in the market, with sales expected to reach ...

LOS ANGELES- Last week, the Massachusetts legislature's Special Joint Committee on Initiative Petitions convened a hearing to deliberate on a proposed initiative aiming to legalize the therapeutic use of natural psychedelics. The measure, which seeks to authorize the consumption of "naturally occurring" psychedelics such as psilocybin mushrooms, peyote, and ibogaine in "therapeutic settings," is championed ...

NEW YORK — In a significant move aimed at bolstering the burgeoning cannabis industry in New York, the Cannabis Control Board voted last week to significantly expand the market's infrastructure by awarding licenses to 114 new cannabis companies. Concurrently, the board announced a two-year waiver of all conditional cannabis cultivator licensing fees, a measure designed ...

NEW YORK- In a move that may herald a more accommodating stance by federal agencies towards the burgeoning cannabis industry, the Internal Revenue Service (IRS) recently issued a memo that could significantly alter the financial landscape for cannabis entrepreneurs. Addressing the longstanding issue of cash transactions within the sector, the guidance suggests that not all ...

LOS ANGELES- This week, South Dakota Governor Kristi Noem (R) enacted two significant pieces of legislation aimed at tightening control over the cannabis industry within the state. The first bill empowers law enforcement and other governmental bodies to conduct searches and take disciplinary actions against medical cannabis businesses. The second piece of legislation targets the ...

LOS ANGELES – The Oregon Liquor and Cannabis Commission (OLCC) introduced a groundbreaking online system on Monday, aimed at streamlining the licensing process for the state's cannabis and alcohol industries. The newly unveiled Cannabis and Alcohol Management Program (CAMP) is designed to serve as a comprehensive online portal for businesses engaging in the state-regulated sale ...

LOS ANGELES – In a legal challenge that underscores the tensions between cannabis businesses and local regulations, three cannabis retailers have initiated a lawsuit against a Massachusetts township. Theory Wellness, Community Growth Partners Great Barrington Operations LLC, and Highminded LLC are contesting nearly $6 million in community impact fees levied by Great Barrington. These fees, ...

LOS ANGELES- TerrAscend Corp. a igure in the multi-state cannabis sector, has announced a bold fiscal maneuver during its financial disclosures for the fourth quarter and the entirety of the 2023 fiscal year. The Canadian-headquartered company is set to challenge the status quo by ceasing tax payments under Section 280E of the Internal Revenue Code, ...

LOS ANGELES- Awakn Life Sciences Corp. a biotechnology company, has made significant strides in the treatment of addiction, particularly Alcohol Use Disorder (AUD), with its recent investigative study on a proprietary S-ketamine oral thin film (OTF) formulation. The study highlighted the formulation's potential, demonstrating significant dissociative effects and effectively reducing alcohol cravings in harmful drinkers. ...

LOS ANGELES- Chicago Atlantic Real Estate Finance, Inc.  an Illinois-based cannabis real estate investment trust (REIT), has disclosed a substantial 17% increase in net interest income for the fiscal year 2023, reaching $57.1 million. This financial upswing underscores the company's strong performance and strategic positioning within the burgeoning cannabis industry. In the course of its ...

LOS ANGELES- In a move that reflects ongoing debates over cannabis policy, the Kentucky Senate has introduced conditions for funding the state's Office of Medical Cannabis. The program, set to launch in 2025, now faces additional hurdles as the Senate requires "conclusive evidence" of medical cannabis's efficacy before releasing funds for its oversight. This provision, ...

LOS ANGELES- Hawaii is on the verge of a major shift in its cannabis policy as House lawmakers in two crucial committees have voted to advance a bill for the legalization of adult-use cannabis, albeit with several amendments. The bill, initially passed by the state Senate earlier this month, garnered support in the Judiciary and ...

LOS ANGELES--In an industry burgeoning with conventions and expos, the Hall of Flowers stands out not merely as an event but as a celebration of cannabis culture's depth, resilience, and creativity. It's not just the scale or the content that distinguishes Hall of Flowers; it's the ethos, the inclusivity, and the sheer originality of its ...

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 ...

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 ...