Legal Affairs
Minnesota Legislature Advances Cannabis Market Framework to Governor
LOS ANGELES- Minnesota lawmakers have passed a comprehensive bill aimed at refining the state's adult-use cannabis program, forwarding it to Governor Tim Walz for approval. The legislation, known as SF 2370, seeks to address regulatory ...
Cannabis in Psychedelic Therapy: Potential and Precautions
LOS ANGELES- The integration of cannabis into psychedelic-assisted psychotherapy is gaining attention as a potential treatment for various mental health conditions, including post-traumatic stress disorder (PTSD), depression, and anxiety. This approach involves administering cannabis in ...
Cybin Partners with Thermo Fisher for U.S. Manufacturing
LOS ANGELES- Cybin Inc. a neuropsychiatry company, has announced a collaboration with Thermo Fisher Scientific to support the Phase 3 clinical supply and potential commercial manufacturing of CYB003, its proprietary deuterated psilocin analog, for the ...
UK Reports 90% Reduction in Mail-Order Cannabis Imports from Thailand
LOS ANGELES- The United Kingdom has reported a 90% decrease in cannabis shipments arriving by mail from Thailand during the first quarter of 2025. This significant decline follows enhanced cooperation between UK and Thai authorities ...
Cannabis Council of Canada Urges Policy Reforms Following Carney’s Election Victory
LOS ANGELES- The Cannabis Council of Canada has extended congratulations to Prime Minister Mark Carney on his recent election victory, while simultaneously calling for immediate policy reforms to support the nation's legal cannabis industry. ...
Former Metrc Executive Alleges Company Enabled Illegal Cannabis Sales in Whistleblower Suit
LOS ANGELES- A former senior executive at Metrc, the leading cannabis compliance tracking company in the U.S., has filed a federal whistleblower lawsuit accusing the firm of turning a blind eye to unlawful activity, including ...
Beer Gets Burned, Hemp Drinks Heat Up
New insights from Whitney Economics show hemp beverages could win big as tariffs slam the beer industry The team at Whitney Economics just dropped their latest cannabis and hemp market forecast—and it’s a must-read for ...
Minnesota Legislature Advances Cannabis Market Framework to Governor
LOS ANGELES- Minnesota lawmakers have passed a comprehensive bill aimed at refining the state's adult-use cannabis program, forwarding it to Governor Tim Walz for approval. The legislation, known as SF 2370, seeks to address regulatory ...
Cannabis in Psychedelic Therapy: Potential and Precautions
LOS ANGELES- The integration of cannabis into psychedelic-assisted psychotherapy is gaining attention as a potential treatment for various mental health conditions, including post-traumatic stress disorder (PTSD), depression, and anxiety. This approach involves administering cannabis in ...
Cybin Partners with Thermo Fisher for U.S. Manufacturing
LOS ANGELES- Cybin Inc. a neuropsychiatry company, has announced a collaboration with Thermo Fisher Scientific to support the Phase 3 clinical supply and potential commercial manufacturing of CYB003, its proprietary deuterated psilocin analog, for the ...
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% ...
Q4 Earnings Report: Trulieve Claims Company Secured $113 Million in Tax Refunds
LOS ANGELES- In a move that has got the attention of the U.S. cannabis industry, Trulieve Cannabis Corp., a leading multi-state operator, announced it has successfully reclaimed $113 million in tax refunds, challenging its dues ...
IRS Penalty Abatement – How Does It Work?
It is never fun to receive a letter from IRS, especially one that says you are being assessed penalties due to filing late, paying your taxes late, or understating income on your tax return! In ...
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, ...
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 ...
Barcelona to Host Landmark International Cannabis Business Conference in Partnership with Spannabis
LOS ANGELES- Barcelona, renowned for its vibrant cannabis culture and history, is set to host the next edition of the International Cannabis Business Conference (ICBC) on March 14, 2024. This event marks a significant partnership ...
Ukraine Embraces Medical Cannabis: A New Frontier in Healthcare
NEW YORK- On February 15th, Ukrainian President Volodymyr Zelenskiy inked his signature on a bill that legalized the medical use of cannabis, as revealed by a parliamentary database on Thursday. This pivotal move followed advocacy ...
First Citizens Bank Makes Historic Leap into Cannabis Banking Landscape
NEW YORK- In a surprising move that has sent shockwaves through the financial sector, First Citizens Bank, the 19th largest bank in the nation boasting over $200 billion in assets, has announced its bold foray ...
Strategic Merger Unites Chicago Atlantic and Silver Spike, Reshaping Cannabis Financing Landscape
In a notable development within the cannabis financing sector, Chicago Atlantic and Silver Spike, two prominent lenders, have announced their merger. This strategic move is poised to create a significant shift in the landscape of ...
Green Thumb Industries Reports Fourth Quarter and Full Year 2023 Results
CHICAGO and VANCOUVER, British Columbia, Feb. 28, 2024 (GLOBE NEWSWIRE) -- Green Thumb Industries Inc. (“Green Thumb” or the “Company”) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of RISE Dispensaries, today ...
Requesting a Private Letter Ruling
You may someday find yourself in a unique tax situation and want to remove any uncertainty of the tax treatment of that situation. In that case, you can request a Private Letter Ruling (PLR) from ...
Pennsylvania Borough Advances Towards Cannabis Decriminalization
LOS ANGELES- In a notable move within the state's evolving stance on cannabis, North York borough in York, Pennsylvania, is on the brink of decriminalizing possession of small amounts of cannabis. This initiative positions the ...
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 ...
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 ...
Aurora Cannabis Welcomes New CFO Simona King
LOS ANGELES- Aurora Cannabis Inc., a Canadia global medical cannabis industry, has announced the appointment of Simona King as its new Chief Financial Officer (CFO), effective February 21, 2024. King, a seasoned finance executive with ...
Maryland Supreme Court Sidesteps Hemp THC Case
The Maryland Supreme Court has decided against reviewing a case that challenges a provision of the state's adult-use cannabis legislation, effectively allowing the continued sale of hemp-derived THC products by unlicensed retailers across the state. ...
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 ...
REVIEW: Green Dreams and Growing Pains: Benzinga’s L.A. Event Sheds Light on the Future of California’s Cannabis Industry
LOS ANGELES- At the Benzinga Market Spotlight event in the Bioscience LA venue, discussions unfolded that highlighted the diverse strategies and viewpoints within California's cannabis industry. One of the key speakers at Benzinga LA was ...
Las Vegas Welcomes Its First Licensed Cannabis Consumption Lounge
LOS ANGELES- Las Vegas, a city famed for its vibrant nightlife and sprawling casinos, has reached a new milestone in its diverse entertainment offerings with the opening of "Smoke and Mirrors," its first licensed cannabis ...
Business Expenses – What is NOT Deductible?
By Rachel Wright, Simon Menkes, & Abraham Finberg- CPAs licensed in California of AB FinWright LLP & 420CPA, and Andrew Gradman, Esq of Andrew Gradman Tax While it seems like a straightforward question, there can ...
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 ...
Idaho Proposes Harsher Penalties for Cannabis Possession Amid Regional Shifts Toward Legalization
LOS ANGELES- As neighboring states progressively embrace cannabis reform, Idaho is taking a contrary path with a legislative proposal aimed at intensifying penalties for cannabis possession. The proposed bill, which introduces a mandatory minimum fine ...
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 ...
Veterans and Law Enforcement Leaders Call on Biden to Reschedule Cannabis
NEW YORK- In a significant push for cannabis reform, leading veterans organizations and U.S. law enforcement officials have rallied together, urging the Biden Administration to consider the rescheduling of cannabis under the federal Controlled Substances ...
Oklahoma Introduces Bill to Ban Foreign Land Ownership
LOS ANGELES- In an effort to combat illegal cannabis cultivation, Oklahoma legislators have proposed a bill aimed at prohibiting foreign land ownership within the state. House Bill 3125, introduced to the Oklahoma House of Representatives ...
