Posts by TBR Staff

Nearly five years after legalizing recreational marijuana at the federal level, Canada is approaching 4,000 regulated cannabis stores spread unevenly across the enormous country, according to data compiled by MJBizDaily. The latest quarterly store tally comes as Canada’s cannabis retail sector continues to transform. Some private-sector retailers are failing, such as major retail chain Fire & Flower, which entered creditor protection in June after years of operating at a loss. Other retail operators, meanwhile, are acquiring: Fika Cannabis successfully bid 36 million Canadian dollars ($26.7 million) for… Read more.

Some brands just seem to have an innate sense for how to make it to the top. They’re able to attract the old guard with a classic panache while at the same time appealing to hipsters who seek a bougie vibe. Canadian dispensary chain Burb passes the test, blending trendy retail with onsite spaces where artists can create and collaborate and industry members can network and build brands. From consumption lounges and live-music nights to a bud bar and a new location that… Read more.

The Justice Department is standing by the Drug Enforcement Administration's (DEA) decision to terminate a "distinguished" special agent who had served for 16 years. The agent, Anthony Armour, was dismissed due to a positive THC test result after using a CBD product for pain relief, believing it to be legal hemp. In May, Anthony Armour initiated legal action against the DEA, seeking to overturn his termination on various grounds, including insufficient "substantial evidence" of his use of an illegal substance and considering his exemplary professional… Read more.

Profitable enterprises take time to build – but it continues to run thin in one of the industry’s most promising cannabis markets. That sentiment underscored many of the conversations that took place at Green Market Report’s first New York Summit on Sept. 13 in the heart of the Big Apple. Operators and investors large and small traded advice and stories of power, money, and property within the context of a market brimming with opportunity, but one that is also showing signs of… Read more.

With its right hand, Tilray Brands has consolidated a swath of the Canadian cannabis market, most recently buying Hexo Corp. in its quest to grow market share. With its left hand, Tilray has gone on a beverage alcohol acquisition bender in the United States. After several alcohol acquisitions that turned Tilray into one of the largest U.S. craft brewers, the company recently announced an $85 million deal to acquire eight craft beer brands from brewing behemoth Anheuser-Busch InBev. As the dust settles on Tilray’s latest… Read more.

In a city celebrated for its gleaming exteriors and captivating attractions, the span of August 15-17, 2023, ushered in a unique luminescence. The grand ballrooms of the Paris Hotel in Las Vegas, often reserved for soirees of opulence, became the gathering point for the Cannabis Conference 2023, drawing members of the community seeking knowledge, innovation and a glimpse into the future of cannabis. The event wasn’t just another notch in the belt of Las Vegas’ rich history of conventions. It… Read more.

President Joe Biden (D) “has always” supported legalizing cannabis for medicinal purposes, White House Press Secretary Karine Jean-Pierre said during a briefing on Friday. The statement came days after the U.S. Department of Health and Human Services (HHS) issued a historic recommendation to the federal Drug Enforcement Administration (DEA) that cannabis be moved from Schedule I to Schedule III under federal law. “The president asked the secretary of HHS and also the attorney general to initiate the administrative process to review how marijuana is… Read more.

Multistate operators are busy expanding their retail footprints in Florida’s nearly $2 billion medical marijuana market, in some cases betting that adult-use legalization is on the horizon and jostling into position to capitalize on that possibility. But investing in Florida marijuana retail could be a gamble. Medical cannabis dispensaries are already offering deep discounts to the more than 800,000 registered medical consumers in the increasingly competitive Florida market, and some companies reported flat sales in the state for the quarter… Read more.

Top executives at Canopy Growth Corp. (TSX: WEED) (Nasdaq: CGC) did their best this past week to convince stakeholders that the business is now making progress on a “path to profitability,” as Chief Financial Officer Judy Hong put it during the company’s second-quarter earnings call. Hong and CEO David Klein tag-teamed during the call to argue that cost-cutting measures, a strategic pivot to an “asset-light” business model, and further investment in brand partnerships, such as the one the company has with… Read more.

Canada’s federal government could face legal consequences for failing to facilitate research on potential health issues experienced by cannabis smokers, according to the former chair of the task force that laid the groundwork for recreational legalization in the country. Anne McLellan, a former law professor at the University of Alberta, told The Globe and Mail newspaper the Canadian government could “potentially” face a class action lawsuit. The federal health minister from 2002 to 2003, McLellan told the Toronto-based newspaper that any lawsuits… Read more.

Ohio voters might see adult-use marijuana legalization on the November ballot, but campaign organizers have a little more work to do first. The effort to legalize a recreational market in Ohio has 10 days to find nearly 700 valid signatures to qualify for the fall ballot, state officials said Tuesday. The Regulate Marijuana Like Alcohol campaign submitted more than 223,000 signatures to the Ohio secretary of state earlier this month. The state declared that only 123,367 signatures were valid, according to a… Read more.

The NCAA Committee on Competitive Safeguards and Medical Aspects of Sports (CMAS) last week indicated its support for removing cannabis from the association’s banned drug list and testing protocols. The committee will gather input from the membership this summer, with final action expected in the fall. The issue was referred to the committee by Divisions II and III. The NCAA said the rationale for the change is due, in part, to the “consensus opinion that cannabis is not a performance-enhancing… Read more.

The company said it plans to open five more stores in Florida. Red White & Bloom Brands Inc. (OTC: RWBYF) posted its financial results for the first quarter ending March 31, 2023. The company posted revenues that ticked down over the year and opened newly re-branded stores in Florida, as it tries to stave off losses. The Toronto-based firm reported revenues of $27 million, down from last year’s $28 million, with a gross profit of $9.4 million. Operating expenses amounted to $10.9 million, and the… Read more.

A bi-partisan bill to legalize cannabis has been introduced in Ohio by state Reps. Casey Weinstein (D) and Jamie Callender (R) would allow the cultivation, purchasing, and possession of cannabis by Ohioans over the age of 21, and allow for the expungement of conviction records for previous cultivation and possession offenses. The measure includes a 10% tax on sales which would be distributed in part to support primary and secondary education, support communities that host dispensaries, combat drug dependence and illegal drug trafficking,… Read more.

A newly proposed limit on the number of cannabis dispensaries that can open in Jersey City and its wards could be coming soon to the city’s burgeoning industry, along with changes to how applicants get prioritized for approval. The city council’s proposals, which will first be voted on Wednesday to be sent for planning board review, would cap the number of retail cannabis dispensaries citywide to 48 and the amount in each of the six wards at eight. (Full Story) Read more.

While robots and artificially intelligent digital bots start to land exotic jobs in manufacturing, agriculture, and other types of industrial production, smart cannabis companies are investing more money into mundane machines used to create pre-rolls, stamp out labels, or trim flower. In order to compete in an increasingly competitive marketplace, automation is one of the most effective ways for companies to cut costs and boost bottom lines. “What we’re seeing across the United States is the price of cannabis has fallen and,… Read more.

Cannabis advocates in Ohio are launching a new campaign to legalize recreational marijuana after state legislators failed to pass a previous citizen-initiated adult-use legalization initiative by a May 3 deadline. The Coalition to Regulate Marijuana Like Alcohol has until July 5 to collect roughly 124,000 signatures to put a marijuana legalization question on the ballot for Ohio’s November election, according to Columbus TV station WCMH. “We’re building on an existing medical marijuana program that is popular, shown that it can be effective and… Read more.

The Texas House last week passed a cannabis decriminalization bill that would reduce penalties for possession of up to an ounce of flower or concentrates to a Class C misdemeanor, KXAN reports. Despite the reduced charge, however, possession penalties could still include a hefty $500 fine. Under current state law, such possession would be considered a Class B misdemeanor, punishable by up to 180 days in jail and a fine of up to $2,000. Possession of four ounces or more is considered… Read more.

Rapper and cannabis entrepreneur Berner, the CEO of Cookies, issued an Instagram video response on Wednesday to lawsuits filed against him and several other Cookies executives, employees, and associates. One such lawsuit, first covered by Alex Halperin for WeedWeek, was filed by Cookies investors BR Co. and NedCo in February; the suit claims that Berner and other defendants engaged in “pervasive self-dealing” leading to “millions of dollars in personal benefits and kickbacks,” among other allegations. In the Instagram video, Berner — legal name Gilbert Milam… Read more.

While traveling recently I ran into Bud, a cannabis industry veteran, who I had known since I was a teenager. He is a big guy, trim, with impeccable taste. Nearly everyone likes him. He was married to another long-time industry insider. Their daughters, now grown, live scattered throughout the country and also work in the business. They all know everybody who is anybody, including “legacy” growers and sellers. Naturally, our conversation turned to the state of the compliant industry. Bud was… Read more.

You could be able to sell and consume cannabis and cannabis products at certain events if a new bill passes the Nevada legislature. State lawmakers are looking at a new bill being proposed by Assemblyman Cameron "C.H." Miller. According to the bill, it would allow portable cannabis vendors to set up show. However, the event, as well as vendors, would need to receive a license from the Cannabis Compliance Board. For consumers, they would have to be at least 21 years old… Read more.

Marijuana e-commerce platform Leafly Holdings this week laid off another 40 employees, or 21% of its workforce, a day before reporting its full-year and fourth-quarter financial results. The job cuts came as Leafly reported $47.4 million in revenue for 2022, a 10% increase from 2021, according to a Thursday news release about the Seattle-based company’s earnings. Operating costs, however, climbed more than 40% last year, although Leafly did manage to turn a profit of more than $5 million in 2022. “We’ve… Read more.

Texas lawmakers have filed a series of new bills aimed at promoting and expanding psychedelics research in the state. The Lone Star State took some observers by surprise last session after the conservative legislature enacted a measure to study the therapeutic potential of psychedelics—and now more legislators are hoping to build on that momentum. Three Democratic lawmakers in the state recently introduced separate reform proposals, including one that would expand the law that Gov. Greg Abbott (R) allowed to take effect… Read more.

Back in the 1950s, Humphry Osmond led a group of pioneering psychiatrists in an extensive study of psychedelics. And from that research, they found that these hallucinogenic drugs had immense therapeutic potential. With academic research coming to an indisputable conclusion and mental health awareness on the rise, the legal landscape is starting to peel back antiquated laws that were put in place 50 years ago. In creating a superior treatment for mental health disorders, the Shroom Boom will give rise… Read more.

Jason Manegold started with just $5,000, a freeze dryer, and a dream. He wanted to create a Colorado cannabis company that would take edibles to a new level—a company that would act as an intersection for industry collaboration and innovation and a place for him to pursue his passion for high-quality extracts and infusions. Manegold wanted to set a new industry precedent for solventless rosin extract edibles. So, he did. He started Dialed In… Gummies in 2020, and now his rosin-infused gummies are… Read more.

One problematic aspect of the current legal cannabis market are the state laws. Because the sector is not yet federally legalized—despite two thirds of the country having legal medical marijuana and a third permitting adult-use sales—there is no monolithic uniformity governing state regulations. Los Angeles-based cannabis lawyer Barry Weisz is very cognicant of this dichotomy. As the founder and co-chair of law firm Thompson Coburn’s cannabis practice, Weisz is the author of his firm’s recently published “Cannabis State-by-State Regulations 5th Annual Guide.”… Read more.

The 2022 midterm elections are right around the corner, and the outcome could prove incredibly important to U.S. marijuana businesses. If Republicans take control of at least one of the two chambers of Congress – as is largely expected to happen in the U.S. House of Representatives – that would dramatically affect the chances of lawmakers passing marijuana reforms, much less getting them signed into federal law. Some stakeholders say the bigger concern, however, is the U.S. Senate, because Minority… Read more.

FBI has spent the past seven years and millions of tax dollars working to update its crime statistics reporting system—and the end result for 2021 data is raising more questions than answers for people tracking drug enforcement trends including marijuana-related arrests. Still, the agency’s fragmented data on drug criminalization released on Wednesday continues to show that cannabis is the primary driver of the drug war—with marijuana and hashish accounting for almost half of all drug-related seizure incidents, for example. The… Read more.

WASHINGTON, D.C. – A new poll has revealed a majority of American voters support allowing legal cannabis businesses to access banking services. The survey, conducted by Morning Consult for Independent Community Bankers of America (ICBA), found 65 percent of voters support modest cannabis reform, and most respondents feel banking access will promote social equity and improve public safety. Among business owners, the lack of access to banking or investment capital was ranked as the top issue facing the U.S. cannabis industry… Read more.

WASHINGTON D.C. – Small-scale and legacy cultivators stand to benefit immensely from the “Small and Homestead Independent Producers (SHIP) Act,” which would allow small cannabis growers to sell and ship products directly to consumers across state lines. The bill, filed in mid-September by Rep. Jared Huffman (D-CA) and Rep. Earl Blumenauer (D-OR), is intended to support small growers across the country struggling to compete against large corporations, once cannabis is federally legalized. “Under my bill, folks in our state will be… Read more.

Thursday's recommendation by a health ministry panel to allow cannabis-based medications might herald a historic shift in the nation's strict drug laws. Since the group advocated for tighter laws against non-medical marijuana use, the modification may have no bearing on Japan's zero-tolerance approach to marijuana usage for recreational purposes. The expert group for the health ministry recommended on Thursday that the government amend the laws to allow for the import and manufacture of drugs formulated with chemicals derived from cannabis. But it… Read more.

Former New York Knick Al Harrington was back in the Big Apple for the Revelry event on August 28 at Restoration Plaza in Brooklyn. Harrington's Knick career spanned two seasons (2008-2010). In the 2008-2009 season, the 6-foot-9 forward peaked with a 20 point average. In 2010, he signed a two-year deal with the Denver Nuggets. During that time, Denver had decriminalized cannabis and advocates were pushing Amendment 64, which voters passed in 2012, legalizing it. That's when Harrington decided he was going… Read more.

Sometimes stoners fuck up - like this past Saturday at the 420 Expo in New Jersey when Tommy Chong was suppposed to be on stage for an interview with this reporter, but a last-minute snafu prevented that from happening. (Celeb Stoner) Full Article Read more.

Grammy-winning rapper Coolio, who died September 28 at 59, was a fledging marijuana entrepreneur. He planned to launch Coolio's Cannabis brand in 2020, but it never made it to market. (Celeb Stoner) Full Article Read more.