CANNABIS. PEXELS
CANNABIS. PEXELS

Cannabis News | Top of the Week: 1/30

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!


 

Cannabis Delivery Shooting Leads to Lawsuit Against Weedmaps and Vape Shop (Ganjapreneur.com)

Publish Date: January 29, 2021

THE BOTTOM LINE: 

“Muur’s attorney, Shawn S. Rokni of West Coast Trial Lawyers APLC, told Law360 that Gregorich fired his weapon when he thought Harris was robbing him when he approached the vehicle.

Gregorich has pleaded not guilty to murder, attempted murder, and shooting at an inhabited dwelling, the report says.

The lawsuit claims that Weedmaps and Universal Stop were aware that Gregorich carried weapons during his cannabis deliveries and that the companies “failed to provide adequate supervision and training … regarding the use of weapons in deliveries” and that the companies shouldn’t have even allowed the delivery to happen because Harris was under the legal age to purchase cannabis in California.”

READ MORE: (Ganjapreneur.com)

 

Gage Cannabis Closes $50 Million Reg A+ Financing, Seeks To Go Public In Q1 2021 (Forbes.com)

Publish Date: January 27, 2021

THE BOTTOM LINE: 

“Gage has already opened six provisioning centers (dispensaries) and is in the process of opening over 20 stores by the end of 2021.

The team also confirmed it is still on track to go public, most likely during the first quarter of 2021.

“We are humbled and excited by the significant interest and investor demand we received for our oversubscribed Reg A+ financing. In total, Gage raised gross proceeds of $50 million, making this one of the largest private cannabis financings in the past year and one of the most successful Reg A+ financings in industry history,” said Gage president Fabian Monaco in an exclusive interview.”

READ MORE: (Forbes.com)

 

Schumer working on merging cannabis bills (MarijuanaMoment.net)

Publish Date: January 29, 2021

THE BOTTOM LINE: 

“Senate Majority Leader Chuck Schumer said cannabis reform was a top legislative priority in an MSNBC interview with Rachel Maddow. The top-ranking Democrat in the Senate expanded on his cannabis reform plan in a Wednesday evening interview on Instagram with Al Harrington, the CEO of California cannabis company Viola Brands and a former NBA player.”

 

 

READ MORE: (MarijuanaMoment.net)

 

Cannabis Sales In California Reach $4.4 Billion In 2020: ‘Essential’, Edibles, And The Election (Forbes.com)

Publish Date: January 29, 2021

THE BOTTOM LINE: 

“Sales in California hit $4.4 billion last year, up 57% from the year prior, reports MJBizDaily with data from its Industry Factbook. The sales in Oregon have surpassed $1 billion annually for the first year. Massachusetts reached the $700 million mark, even as it saw some of the most strict store closures during lockdown. Illinois surpassed $1 billion in sales in its first year, setting new records every month.

Retail delivery and tech giant Eaze published its 2020 State Of Cannabis Report, breaking down some specifics on where that $4.4 billion may have gone in the state of California. The company looked at the delivery orders of 400,000 consumers in 2020 in the country’s largest legal marketplace.”

READ MORE: (Forbes.com)

 

Can Green Energy Power the Cannabis Boom? (NewYorker.com)

Publish Date: January 28, 2021

THE BOTTOM LINE: 

marijuana stocks are booming in the wake of the U.S. Senate wins in Georgia, which gave the Democrats a majority in that chamber, since investors reckon that Democrats are likely to continue along the steady path toward legalization.

The amount of carbon produced by burning pot is not actually a concern. But it turns out that producing the crop, at least the way that it’s grown by large-scale entrepreneurs, requires huge amounts of electricity. As early as 2012, it was estimated that one per cent of the country’s electricity was used for raising pot.

READ MORE: (NewYorker.com)

 

Biden Administration Has Some Cannabis Professionals Feeling Hopeful But Cautious (Forbes.com)

Publish Date: January 27, 2021

THE BOTTOM LINE: 

“The shift in political leadership in the executive branch and the Senate is making some legal cannabis professionals and pundits feel both excited and optimistic about the future. From reactivating stalled cannabis reform laws, such as the MORE Act, which decriminalizes marijuana, to making federal legalization a reality, there is hope that the new Biden/Harris administration coupled with a Democrat-controlled Congress, could perhaps herald an era of promise and progression for the sector.

Yet, because of the ongoing pandemic and recession, the industry might not see significant tailwinds until another two to three years, cautioned Matt Hawkins, founder and managing partner for cannabis-focused private equity firm Entourage Effect Capital.

‘Legalization isn’t necessarily a top priority for the executive branch,’ he explained. For Hawkins, passing the STATES Act should be a top priority ‘since it allows individual states to determine their own legalization framework and support local businesses without interference from the federal government. In this scenario, cannabis products still won’t be able to cross state lines, but the model could mirror current policies that govern the alcohol industry.'”

READ MORE: (Forbes.com)

 

Can the cannabis industry be an agent of social justice? Or is it just another big business? (WashingtonPost.com)

Publish Date: January 25, 2021

THE BOTTOM LINE:

“White is now chief marketing officer at Curaleaf Holdings Inc., which says it is the world’s largest provider (by revenue) of legal medical and recreational cannabis. While some liken legal pot to a gold rush, White — who is African American and Cuban — talks of repairing communities harmed by the war on drugs. ‘Some are very wary of cannabis, having seen people arrested and their voting rights taken away,’ he says. ‘But as cannabis has become more mainstream, others don’t see harm, but opportunity. I want to use this platform to help improve society.'”

READ MORE: (WashingtonPost.com)

 

 

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