CANNABIS. PHOTO: PEXELS
CANNABIS. PHOTO: PEXELS

Cannabis News | Top of the Week: 1/11

Every week, ACRONYM rounds up your Cannabis News into one handy dandy post. Find what’s important, WEED out what’s not. See what we did there? Check weekly under our Cannabis category for up to date news!


 

Positive U.S. Pot News Spurs Rush to Raise Cash: Cannabis Weekly (Bloomberg.com)

Publish Date: January 10, 2021

THE BOTTOM LINE: 

“On the morning of Jan. 6, when the results of Georgia’s Senate race were turning in favor of Democrats and New York Governor Andrew Cuomo proposed to legalize marijuana in his state, Curaleaf Holdings Inc. executives suddenly realized the company could benefit from some extra cash. They went to bankers and lawyers around 11 a.m., and in less than 24 hours, the company had raised more than $200 million by offering more stock on the Canadian Securities Exchange.”

READ MORE: (Bloomberg.com)

Toxins in marijuana smoke may be harmful to health, study finds (CNN.com)

Publish Date: January 11, 2021

THE BOTTOM LINE: 

“Smoking weed may expose you to the same type of toxic chemicals found in tobacco smoke, a new study finds.

People who only smoked marijuana had higher blood and urine levels of several smoke-related toxins such as naphthalene, acrylamide and acrylonitrile than nonsmokers, according to the study published Monday in the journal EClinicalMedicine. Naphthalene is associated with anemia, liver and neurological damage, while acrylamide and acrylonitrile have been associated with cancer and other health issues.”

READ MORE: (CNN.com)

 

COVID relief, marijuana legalization key in 2021 session (APnews.com)

Publish Date: January 10, 2021

THE BOTTOM LINE: 

Virginia lawmakers are set to start this year’s legislative session focused on COVID-19 relief efforts and legalizing marijuana.

The 2021 session will kick off Wednesday, with lawmakers meeting away from the Capitol as the state continues to wrestle with the impacts of a global pandemic that’s shut down schools, closed businesses and left more than 5,000 Virginians dead in last 10 months, including a state senator.

The House of Delegates plans to meet remotely, while the Senate will meet at a large conference center near the Capitol. This will be the second regular legislative session controlled by Democrats since they won control of the General Assembly for the first time in a generation in 2019.

 

READ MORE: (APnews.com)

 

As N.J.’s legal cannabis market prepares to open, a motivated business community is eager to network (NJ.com)

Publish Date: January 8, 2021

THE BOTTOM LINE: 

“Since Election Day, when New Jersey voters overwhelmingly approved legalization of adult-use cannabis, we’ve seen a huge surge in interest on how to get into the cannabis space,” said Enrique Lavin, publisher and editor of NJ Cannabis Insider, the Garden State’s only weekly trade journal dedicated to covering the ins and outs of the legal cannabis industry. “Every insider I’ve spoken to in recent weeks says the same thing. It’s as if the floodgates have been opened.”

READ MORE: (NJ.com)

 

Medical marijuana proposals eyed in Alabama, Kentucky, South Carolina (AL.com)

Publish Date: January 10, 2021

THE BOTTOM LINE: 

“State legislators in Alabama, Kentucky and South Carolina have filed or pre-filed bills establishing such medical marijuana programs, according to a Reckon report.

These states would join Mississippi, the latest state to adopt a medical cannabis program, making it the 35th state to legalize medical cannabis.

In Alabama, state Sen. Tim Melson plans to file a medical cannabis bill similar to the one he filed in 2020.”

READ MORE: (AL.com)

 

Biden’s Commerce Secretary Pick Wants Marijuana Sold In Government-Run Stores (MarijuanaMoment.net)

Publish Date: January 8, 2021

THE BOTTOM LINE: 

“President-elect Joe Biden’s pick to run the U.S. Department of Commerce is a governor who supports not only legalizing marijuana but selling it through government-run stores.

Biden announced on Friday that Rhode Island Gov. Gina Raimondo (D) is getting the nod for Commerce secretary, a cabinet position where, if confirmed by the Senate, she will be responsible for representing business community interests and promoting economic growth. And while the incoming president might not be in favor of legalization himself, his nominee to lead the country’s economic recovery from the coronavirus pandemic has come to embrace the policy change, with a unique twist.

In a budget proposal last year, Raimondo called for a state-run regulatory model for cannabis—rather than allowing sales through a privatized commercial market as is the case in all other states that have legalized to date. Having the government control the industry would ‘allow the state to control distribution, prevent youth consumption, and protect public health,’ her proposal to lawmakers said.”

READ MORE: (MarijuanaMoment.net)

 

Grenco Science Announces Brand Partnership with BLLRDR, Canada’s Trailblazing Cannabis Brand (PRnewswire.com)

Publish Date: January 11, 2021

THE BOTTOM LINE:

“Grenco Science (G Pen) the leader in advanced technology cannabis vaporization, today announces a brand partnership with BLLRDR, the Toronto-based cannabis brand from Grammy award-winning OVO Cofounder Noah “40” Shebib and legendary cultivator Jef Tek. BLLRDR is known for its extensive, market-leading cannabis genetics and small-batch production, developing rare and special cut strains. The groundbreaking partnership marks the first time G Pen has joined forces with a Canadian cannabis company.

The two industry leaders will introduce exclusive co-branded hardware and collaborate on the global line of G Pen advanced technology vaporizers. The BLLRDR x G Pen Dash is now available in select Ontario retailers and on bllrdrco.co. The release is well-timed with the launch of BLLRDR’s highly-anticipated Afghani Bullrider strain. Considered one of the rarest genetics on the market the strain is now officially available on the Ontario Cannabis Store.”

READ MORE: (PRnewswire.com)

 

No More Cannabis Tourism In Amsterdam Post-Coronavirus (Forbes.com)

Publish Date: January 10, 2021

THE BOTTOM LINE:

“Cannabis tourism” may be coming to an end in Amsterdam if the environmentalist mayor Femke Halsema gets her wish to ban foreign tourists from the city’s coffee shops by the time coronavirus travel restrictions are lifted.

It’s no secret that the city’s first female mayor, along with many locals, simply has had enough of “the power of attraction of Amsterdam as a holiday resort for soft drug tourism,” as Halsema wrote in a recent letter to her city council, included in her new plan expected to be passed that would permit marijuana product sales only to Dutch nationals and residents of the Netherlands.

Before Covid-19 lockdowns, the euphemistically-called coffee shops, along with the renowned red-light district, attracted more than one million visitors a month — more than its permanent population.

A total of 46 million people visited the Netherlands in 2019, with most coming to Amsterdam and many buying and smoking cannabis at the marijuana shops.”

 

READ MORE: (Forbes.com)

 

Cannabis-industry investors ‘are likely overestimating the odds for federal decriminalization,’ analyst says (MarketWatch.com)

Publish Date: January 8, 2021

THE BOTTOM LINE:

“While cannabis stocks have soared this week after Democratic wins in Georgia’s runoffs put that party in control of the U.S. Senate, one analyst has warned the rally looks overdone.

‘Investors in cannabis producers, including Tilray (TLRY), Canopy Growth (CGC), and Aurora Cannabis (ACB), are likely overestimating the odds for federal decriminalization and descheduling along the lines of the Marijuana Opportunity, Reinvestment, and Expungement (MORE) Act that passed last month in the House,’ said Beacon Policy Advisors analyst Charlotte Jenkins in a note Thursday.

‘Passage of the MORE Act is unlikely even in a Democratic-controlled Senate because there is likely not enough Republican support to reach the requisite 60 votes to pass the MORE Act or Schumer’s similar legislation,’ she added, referring to Democratic Sen. Chuck Schumer of New York, who is set to become the chamber’s majority leader.”

READ MORE: (MarketWatch.com)

 

DNA Genetics Announces Partnership With Cannabis Tissue Culture Company Meristematic (GlobeNewsWire.com)

Publish Date: January 11, 2021

THE BOTTOM LINE:

“OG DNA Genetics (“DNA” or the “Company”), a globally recognized leading cannabis brand, today announced a partnership agreement (the “Agreement”) with Meristematic, Inc. (“Meristematic”), a leading cannabis micropropagation and tissue culture provider in California.

The Agreement will allow DNA Genetics the ability to provide licensees with clean cultivars and genetically identical starter plants for cultivation with the help of Meristematic’s clean cultivar program. Meristematic’s Clean Cultivar Program uses proprietary tissue culture processes to rejuvenate mother plants while simultaneously filtering out diseases and pests. All new mother stock is thoroughly analyzed, using sensitive molecular techniques, to verify that disease-causing organisms are no longer detectible. Growers then use the rejuvenated mother stock to improve in-house clone production. This program allows cultivators to enjoy some of the benefits of tissue culture, without building a lab or hiring expensive staff to manage a tissue culture program.”

READ MORE: (GlobeNewsWire.com)

 

 

Governor Cuomo Announces Proposal to Legalize and Create an Equitable Adult-use Cannabis Program as Part of the 2021 State of the State (Governor.NY.gov)

Publish Date: January 6, 2021

THE BOTTOM LINE:

“Governor Andrew M. Cuomo today announced a proposal to legalize and create a comprehensive system to oversee and regulate cannabis in New York as part of the 2021 State of the State. Under the Governor’s proposal, a new Office of Cannabis Management would be created to oversee the new adult-use program, as well as the State’s existing medical and cannabinoid hemp programs. Additionally, an equitable structure for the adult-use market will be created by offering licensing opportunities and assistance to entrepreneurs in communities of color who have been disproportionately impacted by the war on drugs. Once fully implemented, legalization is expected to generate more than $300 million in tax revenue.”

READ MORE: (Governor.NY.gov)

 

Check back next week in our Cannabis Section for more news, products, and more!

 


 

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