Week In Review: Rubicon Organics Finalizes Conditions for Hope Facility Acquisition; Cresco Labs Reschedules Q1 2025 Earnings; London Mayor Advocates for Decriminalization of Cannabis Possession; New Zealand Medicinal Cannabis Firms Propose Merger to Form Helius Health

LOS ANGELES — Welcome to the far too-exciting world of cannabis and psychedelics, where it’s a tale of two markets with some states doing amazingly well. And some, well…they’re not doing so well (hello New York). Let’s get to it! 

Cannabis Industry Highlights

1#) Rubicon Organics Finalizes Conditions for Hope Facility Acquisition: Rubicon Organics Inc. has announced the fulfillment of all conditions precedent related to its agreement with MediPharm Labs Inc. for the acquisition of a 47,500-square-foot indoor cultivation facility located in Hope, British Columbia. The transaction, valued at $4.5 million in cash, is anticipated to close in the second quarter of 2025.

2#) Cresco Labs Reschedules Q1 2025 Earnings: Cresco Labs Inc. has announced an updated schedule for its first quarter 2025 financial disclosures. The company will file its interim financial statements and Management’s Discussion and Analysis (MD&A) on Friday, May 30, 2025. A conference call and webcast to discuss the results is scheduled for Monday, June 2, 2025, at 8:30 a.m. Eastern Time.

3#) London Mayor Advocates for Decriminalization of Cannabis Possession: London Mayor Sadiq Khan has endorsed recommendations from the London Drugs Commission (LDC) to decriminalize the possession of small quantities of natural cannabis for personal use. The LDC, established by Khan in 2022 and chaired by former Justice Secretary Lord Charlie Falconer KC, conducted a comprehensive study involving over 200 experts and academics. Their report concluded that current cannabis laws are disproportionate and contribute to strained relations between police and ethnic communities due to biased enforcement.

4#) New Zealand Medicinal Cannabis Firms Propose Merger to Form Helius Health: Three of New Zealand’s medicinal cannabis companies—Helius Therapeutics, Green Leaf Group, and Elysian Group—have announced plans to merge into a single entity named Helius Health. The proposed consolidation aims to integrate the full value chain of prescribing, manufacturing, and dispensing medicinal cannabis products. The merger is subject to shareholder approval, with finalization anticipated by the end of June.

5#) MindMed Appoints Brandi Roberts as Chief Financial Officer: Mind Medicine  has announced the appointment of Brandi L. Roberts, CPA, as its Chief Financial Officer, effective June 2, 2025. Roberts will oversee the company’s financial strategy, capital planning, accounting, investor relations, and information technology as MindMed advances its clinical development and commercial initiatives for its lead product candidate, MM120, an orally disintegrating tablet (ODT) for generalized anxiety disorder (GAD) and major depressive disorder (MDD).

6#) Federal Court Invalidates Oregon’s Cannabis Labor Neutrality Law: A federal judge has ruled that Oregon’s Measure 119, which mandated labor neutrality agreements for cannabis businesses, is unconstitutional. The decision impacts the regulatory landscape for the state’s cannabis industry.

7#)Consumers Pay Premium for Fast-Acting Cannabis Edibles: A recent industry analysis reveals that cannabis consumers are increasingly favoring fast-acting edible products, demonstrating a willingness to pay higher prices for quicker onset effects.

8#) MediPharm Labs Initiates EU and UK Production of Cannabis Metered Dose Inhalers: MediPharm Labs Corp. has commenced production of its cannabis metered dose inhalers for the European Union and United Kingdom markets. This initiative is part of an exclusive sales and distribution agreement with Blackpoint Limited, targeting the €834 million European medicinal cannabis market projected for 2024 .

Psychedelic Sector Update

1#) Silo Pharma’s SP-26 Ketamine Implant Meets All Endpoints in Preclinical Fibromyalgia Study: Silo Pharma Inc. a developmental-stage biopharmaceutical company, announced that its investigational ketamine implant, SP-26, met all primary endpoints in a preclinical study targeting fibromyalgia. The study, conducted in minipigs, assessed the implant’s safety, tolerability, and pharmacokinetics.

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