Why the Bounce is Back in Auxly Cannabis Group Inc (OTCMKTS:CBWTF) Shares

The path higher has been hampered for Auxly Cannabis Group Inc (OTCMKTS:CBWTF) in recent action, with shares falling back down to retest key support in the $0.55/share area last week. This follows strength over the summer that had rekindled hopes of a coming breakout and some serious catch-up action that would make up for lost ground on a relative basis. However, we may be seeing that hope rekindled once action, given the strong action in the name over recent days. Continue reading “Why the Bounce is Back in Auxly Cannabis Group Inc (OTCMKTS:CBWTF) Shares”

Sec Green Light Prompts Rush into Marijuana ETFs

Marijuana ETFs are rushing to list on US exchanges after getting a green light from the Securities and Exchange Commission.

Provided that marijuana exchange-traded funds can show an independent legal opinion that no holdings violate federal law, they can now list in the US, according to the SEC. Continue reading “Sec Green Light Prompts Rush into Marijuana ETFs”

Cannabis Companies: House’s SAFE Act Vote A Milestone

A vote in Congress to ease banking restrictions on cannabis companies is being praised for the possibility the legislation could make operating in the nascent industry much easier and more fair, and for the signal it sends that marijuana is moving toward establishment acceptability. Continue reading “Cannabis Companies: House’s SAFE Act Vote A Milestone”

What’s the DEA’s Announcement Mean for the Future of Cannabis Research?

When the DEA said it would open up cannabis licenses for producers, it sounded like a saving grace for pot research in America. But a look at past history begs the question, “is it just the latest obstacle?”

The U.S. Drug Enforcement Agency recently announced plans to expand cannabis research in the U.S. In late August, after a years-long hiatus in communications between the agency and potential growers, federal officials said they would soon resume contact with groups that have applied to register to manufacture cannabis for researchers. Continue reading “What’s the DEA’s Announcement Mean for the Future of Cannabis Research?”

A ‘Hyperaccelerator’ For Cannabis Startups Is Coming To New York

CanopyBoulder will be hosting a Startup Weekend on Sept. 27-29, which it defines as a cannabis-related startup “hyperaccelerator.”

Eight startup teams have been chosen to participate in the networking, education, mentoring and pitch competition. In addition, the educational sessions and final pitch competition are open to the public. Continue reading “A ‘Hyperaccelerator’ For Cannabis Startups Is Coming To New York”

Cresco Labs to Acquire Tryke Including the Reef Dispensary Portfolio

Tryke generated US$70.4 million in Revenue and US$24.6 million in EBITDA in fiscal 20181, making it one of the highest grossing and most profitable private cannabis companies in the U.S. market.

Nevada is one of the largest and fastest growing cannabis markets in the U.S. with 2019 sales estimates of up to US$940 million2; Arizona is one of the largest and fastest growing medical-only markets with estimated 2019 sales of up to US$760 million. Continue reading “Cresco Labs to Acquire Tryke Including the Reef Dispensary Portfolio”

Clearing NJ Marijuana Convictions Stalls Again

Those hoping to have their marijuana convictions cleared will have to keep waiting.

The state Senate did not vote on Gov. Phil Murphy’s changes to its expungement legislation on Thursday but instead introduced a new bill of its own.

Senators Sandra Cunningham, D-Hudson, and Teresa Ruiz, D-Essex, along with Senate President Stephen Sweeney announced Thursday afternoon they had introduced new legislation to expand expungement. It proposes reforms to expungement eligibility and procedures for clearing marijuana and other qualified offenses. Continue reading “Clearing NJ Marijuana Convictions Stalls Again”

Medical Marijuana Companies Continue Expanding in Puerto Rico

Medical marijuana firms are continuing to flock to the island, with the latest investments announced by Cansortium, Columbia Care and Bhang.

Cansortium recently announced that it was opening its second Fluent medical marijuana dispensary in Puerto Rico. Columbia Care is set to launch “vertically integrated operations” on the island, including a dispensary in San Juan and a cultivation and manufacturing facility in Cidra. Bhang, meanwhile, has signed a deal to distribute its more than 25 cannabidiol (CBD) brands to the island. Continue reading “Medical Marijuana Companies Continue Expanding in Puerto Rico”

CBD Consumers Using Medications Less Often, Cutting Back On Alcohol

Booming interest in products containing cannabidiol (CBD), a therapeutic chemical compound found in cannabis, has resulted in over half of CBD users consuming less prescription and over-the-counter (OTC) medications and supplements, along with over 20% of CBD users consuming alcoholic beverages less frequently, according to a new study by cannabis consumer insights consultants High Yield Insights (HYI). Continue reading “CBD Consumers Using Medications Less Often, Cutting Back On Alcohol”

Alabama Commission Considers Medical Marijuana Proposal

A 15-person panel in Alabama convened for the first time Tuesday to consider whether medical marijuana is right for the state.

The panel, known as the Medical Cannabis Study Commission, was born out of a bill to legalize medical cannabis that was introduced in the Alabama state legislature earlier this year. As lawmakers called for more information, the legislation was shifted from a proposal to legalize medical marijuana to instead appoint a commission to study the issue. Continue reading “Alabama Commission Considers Medical Marijuana Proposal”