News

High Tide Acquires Premium Cannabis Brand Queen of Bud

LOS ANGELES- In a strategic move High Tide Inc. has officially completed its acquisition of the esteemed Queen of Bud brand, including its intellectual property, trademarks, and other valuable assets. This acquisition, announced on March 15, 2024, marks a significant expansion of High Tide's impressive portfolio of consumer-facing brands, such as NuLeaf Naturals, FAB CBD, ...

March 28th, 2024|Brands|

Cannabis Legislation at a Crossroads: Florida and Virginia Poised for Policy Shifts

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 ...

March 28th, 2024|Insights|

Colorado’s Cannabis Cultivation Landscape Evolves with New Genetic Sourcing Laws

LOS ANGELES- In a significant development for Colorado's cannabis industry, Senate Bill 23-271, effective since January, has introduced new regulations allowing cultivators to source genetics from a broader array of entities. This legislative shift aims to rejuvenate the state's cannabis market, addressing sales slumps post-COVID-19 pandemic highs and fostering innovation within the sector. Previously, Colorado ...

March 28th, 2024|Justice|

Optimi Health Corp. Expands Its Global Reach with MDMA Supply Agreement to Israeli Research Institute

LOS ANGELES – In a landmark move for psychedelic medicine, Optimi Health Corp., a preeminent manufacturer of psychedelics licensed by Health Canada, has announced a groundbreaking international supply agreement with The Institute for Psychedelic Research at Tel Aviv University (IPR-TLV). This partnership marks Optimi's inaugural foray into the Israeli market, establishing a significant milestone in ...

March 28th, 2024|Brands|

Knowledge is Power: Unlock the Secrets to Success in the Ever-Evolving Cannabis Industry: Introducing CannabizTeam’s Comprehensive Salary Guide!

NEW YORK — CannabizTeam Worldwide, the premier executive search and staffing firm specializing in cannabis & wellness markets, proudly presents the eagerly-awaited 2024 Cannabis Industry Salary Guide. As the sixth installment of our national report, this comprehensive guide serves as an indispensable tool for both employers and aspiring cannabis professionals alike, providing invaluable insights into the dynamic ...

March 27th, 2024|Business, Insights, News|

Cannabis Industry Moguls Gather for Benzinga Cannabis Capital Conference

More than 100 CEOs and 200 Investors Confirmed for Cannabis Investment & Branding Conference on April 16th at The Diplomat Beach Resort in Hollywood, FL. Boris Jordan, executive chairman of Curaleaf, to Deliver Keynote Speech. HOLLYWOOD, Fla.,-- The Benzinga Cannabis Capital Conference, North America's premier cannabis investment and branding event, is returning to Florida for a two-day conference starting on April 16, 2024, at The Diplomat ...

March 27th, 2024|Business, Uncategorized|

Mexico’s President Asserts Sovereignty in Drug Cartel Policy

LOS ANGELES- In a firm rebuff to external pressures, Mexican President Andrés Manuel López Obrador declared last week that Mexico will not engage in combative actions against drug cartels at the behest of the United States. Emphasizing national sovereignty, López Obrador's stance highlights a broader strategy of non-aggression in dealing with the cartels, underscoring a ...

March 27th, 2024|World|

Amazon’s Hemp Product Dilemma: Undeclared CBD, Mislabeling, and Policy Contradictions

LOS ANGELES- A recent study conducted by CBD Oracle has shed light on the problematic state of hemp product listings on Amazon, unveiling a landscape of mislabeled items, undeclared cannabinoids, and outright policy violations. Despite Amazon's clear stance against the sale of hemp-derived cannabinoids, the investigation reveals that the online marketplace may not be as ...

March 27th, 2024|Capital|

New York Takes Bold Steps to Support Cannabis Cultivators

LOS ANGELES- In a significant move to bolster the burgeoning adult-use cannabis industry, the New York State Cannabis Control Board (CCB) has announced a series of initiatives aimed at aiding struggling farmers and expediting the market's growth. Governor Kathy Hochul underscored the state's commitment to its agricultural foundation, highlighting the waiver of cannabis cultivator licensing ...

March 27th, 2024|Insights, Uncategorized|

Bulls Take Charge: The Green Rush Revival in the Cannabis Market

NEW YORK-  As the cannabis market flourishes, several companies have made significant strides, contributing to the sector's overall bullish sentiment, beyond the widely recognized giants. Focusing on a fresh set of companies, let's explore some alternative examples that have shown remarkable performance in the stock market, reflecting the dynamic growth within the industry. Green Thumb ...

March 26th, 2024|Business|

U.S. Legal Cannabis Market Forecasted to Surpass $31 Billion in Sales in 2024

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 ...

March 26th, 2024|Insights|

PharmAla Biotech and Cortexa Supply GMP Psilocybin for Therapeutic Use in Australia

LOS ANGELES- PharmAla Biotech Holdings Inc., in collaboration with Cortexa Pty. Ltd., has achieved supplying Good Manufacturing Practice (GMP) Psilocybin for therapeutic use to a patient under the Australian authorized prescriber scheme, marking what the company believes to be a global first. This groundbreaking development allows for the treatment of patients with treatment-resistant depression outside ...

March 26th, 2024|Psychedelics|

Utah to Launch Psilocybin and MDMA Pilot Program for Behavioral Health Treatment

NEW YORK-Utah is set to introduce a pioneering pilot program that will allow select hospitals to administer psilocybin and MDMA to patients for behavioral health treatment starting in May, after Governor Spencer Cox opted to let the authorizing bill become law without his signature. This decision marks a significant step forward in the exploration of ...

March 26th, 2024|Psychedelics|

Arkansas Proposes Constitutional Amendment for Adult-Use Cannabis Legalization

LOS ANGELES- In a significant move towards cannabis legalization, Arkansas advocates have filed a constitutional amendment aimed at legalizing adult-use cannabis. The proposal, now awaiting review by the state attorney general's office, could see the legalization question placed on the November ballot if it garners the required 90,704 valid voter signatures by July 5. The ...

March 26th, 2024|Justice|

New York State Advances Cannabis Industry with License Expansion and Financial Support

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 ...

March 25th, 2024|Insights|

Schumer Amplifies Push for Cannabis Banking Reform Through Public Petition

NEW YORK- Senate Majority Leader Chuck Schumer (D-NY) is intensifying efforts to advance the Secure and Fair Enforcement (SAFER) Banking Act, employing a public petition to highlight the critical need for banking access for cannabis businesses, which are currently encumbered by federal restrictions. This move signifies a proactive approach to navigating the legislative landscape, aiming ...

March 25th, 2024|Justice|

Expert Panel Recommends Pharmacy Access and Tax Reforms for Canada’s Cannabis Sector

LOS ANGELES- An expert panel appointed by the government to review Canada's Cannabis Act has proposed several key changes aimed at refining the nation’s adult-use legalization framework. After 18 months of deliberation, the panel released a final report encompassing 54 recommendations and various observations for federal consideration. Among the notable suggestions is enabling pharmacy distribution ...

March 25th, 2024|Justice|

Week In Review: Curaleaf Expands Global Reach with Acquisition of Canadian Cannabis Operator; U.S. Treasury Secretary Reaffirms Support for Cannabis Banking Legislation; TerrAscend Charts New Fiscal Path Amid Cannabis Industry’s Tax Challenges

LOS ANGELES–Welcome to the far too-exciting world of cannabis and psychedelics, where it’s earnings season with updates from some of the leading MSOs outlined below, along with a helping of innovations and financial insights from the Cannabis and Psychedelic markets. This past week the Hall of Flowers event attracted many brands and companies from all ...

March 25th, 2024|Business, The Week in Review|

Curaleaf Expands Global Reach with Acquisition of Canadian Cannabis Operator

LOS ANGELES- Curaleaf Holdings, a figure in the cannabis industry, is advancing its international presence through the acquisition of Northern Green Canada, a licensed cannabis producer that specializes in the import-export market. This move, the financial details of which remain undisclosed, marks a significant step for the New York-based multistate operator (MSO) in securing a ...

March 25th, 2024|Capital|

IRS Guidance Signals Potential Shift in Federal Approach to Cannabis Industry Cash Transactions

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 ...

March 22nd, 2024|Insights|

U.S. Treasury Secretary Reaffirms Support for Cannabis Banking Legislation

LOS ANGELES- In a significant development from Washington, U.S. Treasury Secretary Janet Yellen has once again vocalized her backing for critical cannabis banking legislation, emphasizing the urgency of resolving financial barriers faced by state-regulated cannabis enterprises. During a House of Representatives Appropriations subcommittee hearing, as reported by Reuters, Yellen underscored the pressing need for legislative ...

March 22nd, 2024|Capital|

Germany Approves Historic Cannabis Legalization Measure

LOS ANGELES- In a landmark decision, lawmakers in Germany's Bundesrat have voted to approve the CanG measure, paving the way for the national legalization of adult-use cannabis. The Bundesrat's approval follows the previous endorsement by the Bundestag in February, marking a significant shift in the country's approach to cannabis regulation. Despite facing substantial opposition within ...

March 22nd, 2024|World|

Settlement Talks Underway in Dispute Over Cannabis Dispensary Location in Syracuse Suburb

NEW YORK- In a recent development that underscores the intricate legal and regulatory landscape of New York's cannabis market, TJ's Cannabis of Liverpool has entered settlement discussions with the New York Office of Cannabis Management (OCM). The dispute centers around the prohibition of TJ's Cannabis from establishing a dispensary in the Syracuse suburb of Clay, ...

March 21st, 2024|Justice|

South Dakota Implements Stringent Cannabis Regulations Amidst Growing Industry Scrutiny

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 ...

March 21st, 2024|Insights|

Clinical Trial Explores Psychedelic Treatment for Depression

LOS ANGELES- In a move within the field of psychiatric treatment, MindBio Therapeutics Corp. has announced the launch of its Phase 2B clinical trial, investigating the potential of psychedelics in treating Major Depressive Disorder (MDD). This trial aims to assess the effectiveness of MB22001, a proprietary formulation of Lysergic Acid Diethylamide (LSD), uniquely designed for ...

March 21st, 2024|Psychedelics|
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