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Cannabis Industry Business Professionals Blogs, Press Releases and News Articles from the best journalist in the industry. Stay updated on all news from many online cannabis news outlets, on MjLink.com

Cannabis Business Times

Cannabis Business Times is owned by GIE Media, based in Valley View, Ohio. CBT’s mission is to help accelerate the success of legal cannabis cultivators by providing actionable intelligence in all aspects of the business, from legislation, regulation and compliance news to analysis of industry trends, as well as expert advice on cultivation, marketing, financial topics, legal issues and more.

CBT focuses strictly on the business of legal cannabis for medical and recreational use and aims to provide timely information—through its website, e-newsletter, mobile app, print magazine and annual conference—to help the reader make timely, informed decisions to help them run their businesses better and more profitably. In 2018, Cannabis Business Times was named Magazine of the Year by the American Society of Business Publication Editors.

Michigan Governor Will Allow Cannabis Dispensaries to Set Up Delivery Services During COVID-19 Outbreak

Cannabis Business Times Marijuana News Tuesday, 17 March 2020

Following the general trend toward delivery services amid the COVID-19 outbreak (and, thus, the public health necessity), Michigan Gov. Gretchen Whitmer announced this morning that all licensed cannabis retailers may set up delivery services to accommodate sales in this time of social distancing. 

The Michigan Marijuana Regulatory Agency must approve this measure, a move that's expected today or tomorrow, according to Crain's Detroit Business.

Whitmer's executive order also includes curbside pickup for all licensed dispensaries.

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How Jushi Holdings’ Dispensaries Are Working One-on-One With Customers During Coronavirus Outbreak

Cannabis Business Times Marijuana News Tuesday, 17 March 2020

Cannabis dispensaries across the U.S. and the rest of the world are adjusting their approach to public health, fine-tuning interactions with customers and patients to ensure a safe environment for all (including, of course, employees on the front lines of the business).

Blythe L. Huestis, vice president of retail operations for Jushi Holdings, says that the company worked with its team of medical professionals to device best practices in these uncertain times. Jushi Holdings operates dispensaries in New York and Pennsylvania (as the Beyond/Hello retail brand) and in Illinois (as the recently acquired TGC brand, soon to be converted to Beyond/Hello).

“Our efforts are to protect the well-being of our customers and our employees, as well as the communities we work in,” she says.

Jushi’s latest heath and safety policies lean heavily on guidance from the Centers for Disease Control and Prevention, bringing effective “social distancing” practices into the retail environment. At the TGS locations in Illinois, for example, point-of-sale devices are kept behind glass partitions—setting up a natural barrier between employees and patients.

But sometimes the face-to-face interaction with patients needs to be done in a closer environment.

“Our Illinois locations have an express space that’s a private room with a few point-of-sales and it is separate from the main sales floor, which ultimately allows for us to service any of our call-ahead patients,” Huestis says. “We want to be mindful of our patients and their health and any compromised immune systems or issues they may have—and also assist with the social distancing efforts.”

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Canopy Growth to Temporarily Close Corporate Owned Retail Amid Response to COVID-19

Cannabis Business Times Marijuana News Tuesday, 17 March 2020

SMITH FALLS, ON, March 17, 2020 /CNW/ - Canopy Growth Corporation has been monitoring the COVID-19 outbreak and paying close attention to the guidance given by public health bodies around the globe. Canopy Growth's leadership team has made the decision to temporarily close all corporate-owned Tokyo Smoke and Tweed retail locations across Canada, effective at 5:00 p.m. local time today, March 17.

"We have a responsibility to our employees, their families, and our communities to do our part to "flatten the curve" by limiting social interactions. For us, that means shifting our focus from retail to e-commerce," said David Klein, CEO, Canopy Growth. "This is a big decision but it was also an easy one to make – our retail teams are public-facing and have been serving an above-average volume of transactions in recent days. Given the current situation, it is in the best interest of our teams and our communities to close these busy hubs until we are confident we can operate our stores in the best interest of public health."

Canopy Growth also has a responsibility to its customers and medical patients to continue providing access to their desired cannabis products and prescribed medication. The Company has established, fully supported e-commerce platforms available to our recreational and medical customers across the country to provide business continuity for people seeking our products.

The decision affects the 23 corporately-owned stores in Newfoundland, Saskatchewan, and Manitoba as well as the Tweed Visitor Centre in Smiths Falls, ON.

Patients will be able to continue purchasing medical cannabis through Spectrum Therapeutics. Adult consumers within Manitoba and Saskatchewan are able to purchase Canopy Growth products through Tweed and Tokyo Smoke e-commerce platforms, all other provinces and territories will be supported through government-run online retail.

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Ultra Health Exports Cannabis to Israel

Cannabis Business Times Marijuana News Monday, 16 March 2020

ALBUQUERQUE, N.M., March 16, 2020 (GLOBE NEWSWIRE) -- PRESS RELEASE -- Ultra Health, a New Mexico-based cannabis company with a nationwide presence, successfully exported low-THC, high-CBD cannabis medicine to Israel last week through its strategic partnership with Israeli pharmaceutical group Panaxia. Ultra Health is the first-ever commercial United States cannabis company to export cannabis extracts to Israel.

The high-CBD medicine was created from extracting New Mexico-produced hemp in Bernalillo, New Mexico after Ultra Health and Panaxia US received hemp extraction and manufacturing permits from the New Mexico Environment Department (NMED). Ultra Health is also a recipient of two continuous hemp commercial research production licenses from the New Mexico Department of Agriculture.

After being successfully imported into Israel via a permit from the Israel Ministry of Health, Panaxia plans to make the high-CBD medicines available to patients suffering from epilepsy or autism spectrum disorder (ASD), many of whom are children. The first suite of products will include sublingual tablets, oral tablets and sublingual drops, with future expansion plans to include inhalable products, ointments and creams.

Upon the successful import of the high-CBD medicines to Israel, Ultra Health agreed to purchase another 1,000 pounds of New Mexico-produced hemp to begin expanding further production and export.

“We are pleased to be able to extend care to our patients in Israel who are in acute need of this kind of medicinal cannabis care,” said Dr. Dadi Segal, Panaxia CEO. “Panaxia’s superb R&D capabilities combined with the added value of a high-quality strategic company such as Ultra Health prove themselves time and again, especially with regard to the high quality of the products and stringent regulatory compliance.”

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Washington Legislature Sends Legislation to Bolster Social Equity in Cannabis Licensing to Governor

Cannabis Business Times Marijuana News Monday, 16 March 2020

The Washington Legislature has approved legislation aimed at bolstering social equity in the state's cannabis industry to Gov. Jay Inslee, according to The Daily Chronicle.

The bill would create a task force to help establish a new Marijuana Social Equity Program and would allow the Washington State Liquor and Cannabis Board (WSLCB) to award previously revoked or canceled cannabis dispensary licenses to applicants in the new program, the news outlet reported.

The program would last for eight years and would be available to applicants in communities disproportionately impacted by cannabis prohibition that meet specific requirements, The Daily Chronicle reported.

The legislation would also establish a grant program for new licensees, according to the news outlet.

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Maine Issues First Round of Conditional Adult-Use Cannabis Licenses

Cannabis Business Times Marijuana News Monday, 16 March 2020

Maine has issued its first round of conditional adult-use cannabis licenses to 31 businesses for cultivation, manufacturing and retail operations, according to a Portland Press Herald report.

The Office of Marijuana Policy granted provisional approval March 13 to one nursery, 10 cultivation operations, four manufacturing facilities and 16 dispensaries, the news outlet reported.

More than 200 applications have been submitted for adult-use cannabis licenses since Maine opened its licensing process in December, according to the Portland Press Herald.

Applicants granted conditional licenses must now obtain local authorization before they can receive a final active license from the state, according to the Portland Press Herald. Maine will not issue these final licenses until an adult-use cannabis testing lab is licensed and operational in the state, the news outlet reported; four labs are currently considering participation in the market, while only one is close to being fully licensed.

Maine voters approved adult-use cannabis legalization in November 2016. The state plans to launch its adult-use cannabis market sometime this spring, according to the Portland Press Herald.

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Proposal to Cap THC in Medical Cannabis Products Stalls in Florida House

Cannabis Business Times Marijuana News Monday, 16 March 2020

A proposal to cap the THC content in medical cannabis products for patients under the age of 21 stalled in the Florida House as the state’s 2020 legislative session came to a close March 13, according to a Miami Herald report.

The House unanimously approved a version of a larger healthcare bill without a provision that would have imposed the 10% THC limit, the news outlet reported.

Capping the amount of THC in medical cannabis products was a priority for House Speaker Jose Oliva this year, although the proposal was not as well-received in the Senate, Miami Herald reported.

This is the second year that a THC cap has been discussed in the Florida Legislature. The House considered a proposal last year that would have capped the THC level in whole-flower products at 10%, although the Senate ultimately rejected that measure.

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Cannabis Conference 2020 in Process of Rescheduling: COVID-19 Update

Cannabis Business Times Marijuana News Monday, 16 March 2020

In the effort to protect the health and safety of our attendees, employees and communities amidst the developments of the Coronavirus disease (COVID-19) global pandemic, we have made the difficult decision not to hold Cannabis Conference 2020 in April, and are actively working with our meeting hotel, Paris Las Vegas Resort & Casino, to determine potential alternative dates for the event.   

All registrations and exhibition contracts will be honored for the future event dates.

During this turbulent and uncertain period, we ask for your patience and understanding as we work together to coordinate this important education and networking event for the cannabis industry.

We’ll be sure to keep you in the loop as we learn more. Updates will be provided as soon as they’re available on our conference and publication websites, social media channels and email newsletters.

In the meantime, we wish for you to stay safe and be well. The Centers for Disease Control’s full guidance on steps to protect yourself and others can be found here.

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New Jersey Supreme Court Rules Employers Must Accommodate Workers’ Off-Duty Medical Cannabis Use

Cannabis Business Times Marijuana News Monday, 16 March 2020

The New Jersey Supreme Court ruled March 10 that employers must accommodate workers’ off-duty medical cannabis use in a decision that marks a shift in the courts’ view of medical cannabis in the state, according to Pashman Stein Associate Dillon McGuire.

Justin Wild, a former funeral director for Feeney Funeral Home, had been treating his cancer with medical cannabis for a year without receiving any negative performance evaluations from his employer. When Wild had a minor car accident while on duty, Feeney Funeral Home tested him for drugs and alcohol as part of their company policy.

“At that time, he said, ‘Look, I have this medical marijuana card. I guarantee my test will be positive for marijuana, but it’s prescribed. I’m using it at home, after work hours,’” McGuire, whose firm was an amicus on the case, representing the ACLU and arguing on behalf of the plaintiff, told Cannabis Business Times.

When Wild failed the drug test, Feeney Funeral Home terminated him, prompting him to file a claim under New Jersey’s law against discrimination, alleging that his employer discriminated against him based on his medical condition and his need to use cannabis to treat it.

A trial court then ruled that there was a provision under an earlier version of New Jersey’s Compassionate Use Act, which has since been amended, that said employers were not required to accommodate the use of medical cannabis in the workplace.

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Illinois Extends Cannabis License Application Deadline Amid Coronavirus Concerns, Virginia Lawmakers Send Decriminalization Bill to Governor: Week in Review

Cannabis Business Times Marijuana News Saturday, 14 March 2020

This week, Illinois Gov. J.B. Pritzker issued an executive order to extend the state’s deadline for its second phase of adult-use cannabis license applications due to coronavirus concerns. Elsewhere, in Virginia, lawmakers sent a cannabis decriminalization bill to Gov. Ralph Northam, who has vowed to sign the proposal into law this year.

Here, we’ve rounded up the 10 headlines you need to know before this week is over.

Florida: An amendment that imposes a 10% THC limit on medical cannabis products for patients under the age of 21 has passed the Florida House in a voice vote. House Speaker Jose Oliva announced last month that he would like to pass legislation this year to limit the potency of medical cannabis products in the state, although the Senate has shown little interest in the issue; a proposal was introduced and then withdrawn in that chamber earlier during this year’s session after it failed to garner enough support. Read moreVirginia: Lawmakers have sent a cannabis decriminalization bill to Gov. Ralph Northam, who has vowed to sign the proposal into law this year. The legislation reduces the penalty for simple cannabis possession of up to one ounce to a $50 fine or five hours of community service. Read moreWashington: The Senate approved legislation March 9 that would allow regulators to bolster social equity in Washington’s cannabis licensing process. The bill, approved by the Senate in a 28-20 vote, would allow the Washington State Liquor and Cannabis Board to award previously revoked or canceled cannabis retail licenses to social equity applicants, which are defined as minority applicants who own at least 51% of a cannabis dispensary business. Read moreMissouri: The Senate approved a bill March 9 that would ban cannabis-infused candy in the state’s medical cannabis program in an effort to protect children. The legislation would prohibit candy, lollipops, cotton candy, and fruit- and animal-shaped edibles that could appeal to children, and it would require that all cannabis-infused food or its packaging bear a stamp with dosage information. Read moreIowa: The Iowa House approved legislation this week that would change the THC cap in the state’s medical cannabis program. The bill, House File 2589, would replace the state’s current 3% THC limit for medical cannabis products with a limit of 4.5 grams of THC in a 90-day period. Read moreSouth Dakota: The Ogala Sioux Tribe approved a referendum March 10 to legalize medical and adult-use cannabis on South Dakota’s Pine Ridge Reservation. The tribe is the first to establish a regulated cannabis market in the state, where both medical and adult-use cannabis remain illegal. Read moreTennessee: The Tennessee Senate approved a bill March 11 that would legalize medical cannabis in the state, after the legislation was amended to delay its implementation until the federal government shifts its policy on cannabis. Medical cannabis sales would have launched next year under the original version of the bill, but the new amendment, introduced by Sen. Bo Watson, delays the legislation’s enactment until if and when the federal government reclassifies cannabis from a Schedule I drug to Schedule II under the Controlled Substances Act. Read moreIllinois: Gov. J.B. Pritzker has issued an executive order to extend the state’s deadline for its second phase of adult-use cannabis license applications due to coronavirus concerns. The deadline for businesses to apply for craft grower, infuser and transporter licenses has been extended from March 16 to March 30 to prevent the spread of the illness. Read moreAlabama: The Alabama Senate approved legislation March 12 that would legalize and regulate medical cannabis in the state. Sen. Tim Melson introduced the bill, S.B. 165, last month to establish a regulatory framework for the cultivation, production, testing and sale of medical cannabis in Alabama, and the legislation now heads to the House for consideration. Read moreInternational: Three Senate committees have approved a draft bill in Mexico that would create a legal, regulated market for medical, adult-use and industrial cannabis. The bill will now be debated in another meeting of the three Senate committees, as well as in a plenary session of the upper house, and a vote is expected as soon as next week. Read more
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Congressional Committee Approves Bills to Expand Medical Cannabis Access, Research for Veterans

Cannabis Business Times Marijuana News Saturday, 14 March 2020

The House Veterans' Affairs Committee has passed two bills to expand access and further research on medical cannabis for veterans.

The Veterans Equal Access Act (HR 1647) would allow Veteran Affairs (VA) physicians to recommend medical marijuana to patients in states where it's legal. Regardless of legality, VA healthcare providers are currently prohibited from completing said recommendations, requiring military veterans to seek care from an out-of-network physician. 

"The reefer madness days are done, and it's time for Congress and the VA to face the facts surrounding marijuana—most pointedly, its medical benefits for veterans," Rep. Earl Blumenauer (D-Or.), sponsor of the bill and founding co-chair of the Congressional Cannabis Caucus, wrote in an email. "More and more veterans are reportedly using cannabis to help alleviate symptoms of post-traumatic stress, chronic pain and several other ailments." 

The VA medical Cannabis Research Act (HR 712), sponsored by Rep. Lou Correa (D-Ca.) would require the VA to conduct clinical trials on the medical potential of cannabis to assist in the treatment of chronic conditions common among veterans, including post-traumatic stress disorder (PTSD).

"My bill puts our veterans first by ensuring the Department of Veterans Affairs takes cannabis seriously and conducts vital medical research into its effectiveness in treating PTSD and chronic pain," Correa said in a statement. "Our veterans are depending on us. We owe it to every veteran to never stop looking for ways to treat their scars."

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Coronavirus Outbreak Prompts Uptick in Cannabis Sales, Including Emergent Delivery Services

Cannabis Business Times Marijuana News Friday, 13 March 2020

As COVID-19 continues to spread across the U.S., the implications are vast and complicated for business stakeholders and customers alike. International and domestic supply chains are feeling unprecedented economic pressure, and anyone monitoring the hourly news cycle is looking for clarity. 

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Alabama Senate Passes Medical Cannabis Legislation

Cannabis Business Times Marijuana News Friday, 13 March 2020

The Alabama Senate approved legislation March 12 that would legalize and regulate medical cannabis in the state, according to an AL.com report.

Sen. Tim Melson introduced the bill, S.B. 165, last month to establish a regulatory framework for the cultivation, production, testing and sale of medical cannabis in Alabama.

The legislation would create the Alabama Medical Cannabis Commission, which would be charged with licensing cannabis businesses, as well as creating and maintaining a patient registry and issuing medical cannabis ID cards to qualified patients, AL.com reported.

The legislation would allow doctors who receive training to recommend medical cannabis to patients with several qualifying conditions, according to the news outlet, including: anxiety or panic disorder; nausea, weight loss or pain related to cancer; Crohn’s disease; epilepsy or other conditions causing seizures; fibromyalgia; nausea or weight loss related to HIV; persistent nausea; post-traumatic stress disorder; sleep disorders; spasticity associated with a motor neuron disease, multiple sclerosis or spinal cord injury; Tourette’s Syndrome; conditions that cause chronic or intractable pain; and terminal illnesses in which a patient’s life expectancy is six months or less.

The Senate approved an amendment by Sen. Vivian Davis Figures that added menopause and premenstrual syndrome to the list of qualifying conditions, according to AL.com.

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Illinois Extends Deadline for Cannabis License Applications Due to Coronavirus Concerns

Cannabis Business Times Marijuana News Friday, 13 March 2020

Illinois Gov. J.B. Pritzker has issued an executive order to extend the state’s deadline for its second phase of adult-use cannabis license applications due to coronavirus concerns, according to the Chicago Tribune.

The deadline for businesses to apply for craft grower, infuser and transporter licenses has been extended to March 30 to prevent the spread of the illness, the news outlet reported.

The original deadline was 5 p.m. on March 16.

The state can license up to 40 craft growers, 40 cannabis infusers and an unlimited number of transporters in this next licensing round, the Chicago Tribune reported.

The licenses will be issued by July 1, according to the news outlet.

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Coronavirus Spread Prompts Cannabis Research Event Cancellations, Widening a Gap in the Industry

Cannabis Business Times Marijuana News Friday, 13 March 2020

The 2020 North Central Extension & Research Activity-101 (NCERA-101) Annual Meeting, which was scheduled for March 15-18, has been postponed because of the coronavirus. The event is a gathering of minds in controlled environment agriculture (CEA).

NCERA-101 was scheduled to be held at the Tucson Marriott University Park Hotel in Tucson, Ariz., and will still take place there on a new date. It will likely be sometime in September, said Carole Saravitz, who is a research associate professor and the director of North Carolina State University’s Phytotron plant research facility, as well as a member of NCERA-101 and manager of the group’s website.

“In the next couple of days, we'll have firm dates on when the conference will be,” she said March 12. “As planned, we're figuring [September] will be past the coronavirus thing.”

RELATED: Coronavirus Puts Pressure on the Cannabis Supply Chain

Every year, the event includes education and tours focused on controlled-environment produce, cannabis and ornamental plant production. The original schedule included a tour of Bayer’s new seven-acre Marana Greenhouse facility and the University of Arizona’s Controlled Environment Agriculture Center (CEAC), according to Saravitz and NCERA-101’s meeting agenda.

Royal Heins, professor emeritus at Michigan State University, was scheduled to speak on “Cultural and flowering physiology of Hemp,” according to the meeting agenda. Ricardo Hernandez, an assistant professor at North Carolina State University who conducts hemp research, had plans to attend, Saravitz said. She said it’s likely that the postponed event will include tours of the same facilities and much of the same education.

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Glass House Farms Expands Into New 355,000-Sq.-Ft. Greenhouse Space

Cannabis Business Times Marijuana News Friday, 13 March 2020

Glass House Farms has completed its 355,000-sq.-ft. greenhouse expansion in the Carpinteria Valley, northwest of Los Angeles, bringing the company’s total greenhouse space to 505,000 square feet. The new facility marks a 34-month process, from buying the property to completing the first harvest, Glass House Group President Graham Farrar tells Cannabis Business Times. 

Courtesy of Glass House Farms
 

“You have this vision in your head of how things are going to work, and you build it all, invest tens of millions of dollars and three years of time, and you hope you’re right. So far, knocking on wood, six harvests in now and it looks absolutely beautiful,” he says.

Quality, consistency and efficiency are the three pillars that guided this expansion, he adds. At the new greenhouse, employees are no longer handling one plant at a time. The crop is moved via rolling trays and rail-track system, allowing the company to hit six harvests per year at the new facility (as opposed to the 4.8 they’d ramped up to at the first greenhouse). The Glass House team took the controlled-environment principles of an indoor grow and applied them to a massive greenhouse space, leaning toward higher plant density, smaller plants and faster harvest—all scaled up to 10 acres.

“The things that for the last five years had been bugging me, that I wish were better about the first farm are now better at the second farm. The efficiency, the scale, the quality,” he says.

In practical terms, the new greenhouse multiplies Glass House’s existing square footage by 2.4 times. But, more important, it multiplies the company’s existing cultivation canopy by 3.5 times. This is crucial, Farrar says, as the California cannabis market is facing a supply shortage in the legal, licensed marketplace. Illicit market cannabis sales continue to outpace legal spending in California, meaning companies with the increased capacity to grow cannabis are on the front lines of the state industry’s ability to respond.


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Cannabis Trade Federation Founder to Step Down as CEO

Cannabis Business Times Marijuana News Thursday, 12 March 2020

WASHINGTON — PRESS RELEASE — The Cannabis Trade Federation (CTF), a national coalition of cannabis-related businesses, has announced that Neal Levine has decided to step down as CEO of the Federation.

“When I initially accepted this position in June of 2018, I agreed to do the job for two years with a decision in January 2020 as to whether or not I wished to continue in the role,” said Levine. “While I have enjoyed setting up the organization, it was never my intent to run it long-term. With the election heating up and legislative movement in Washington D.C. starting to slow down for the year, now is the perfect time to make a transition.”

CTF will immediately begin a search for a new CEO, with Neal remaining in the role until a new CEO is hired. CTF is also announcing that Neal has accepted a promotion to The Board of Directors pending ratification by the Board, and has agreed to remain with the organization as Senior Strategic Advisor.

“Neal is our founder and visionary, and we are delighted that he agreed to be elevated to the Board and remain with CTF as Senior Strategic Advisor. He has always been very transparent about this being a two-year commitment, and we are grateful for the time he has invested in the organization,” said Ed Conklin, chair of the CTF Board of Directors. “We cannot adequately praise Neal enough for his expert stewardship, industry-building, and thought leadership across the aisle with CTF as he enters his next chapter.”

“I am grateful to the Board for their support and willingness to allow me to pursue other projects that I have sidelined to focus on this role, while still allowing me to help build and guide the organization,” said Levine. “While I no longer wish to focus on CTF full time, I remain fully supportive of CTF as an organization and its mission. I am excited to see where the organization can go with fresh leadership.”

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Canopy Growth and TerrAscend Canada Enter Debt Financing Arrangement

Cannabis Business Times Marijuana News Thursday, 12 March 2020

SMITHS FALLS, ON, March 11, 2020 /CNW/ - PRESS RELEASE - Canopy Growth Corporation and TerrAscend Canada Inc., a wholly owned subsidiary of TerrAscend Corp., have announced they have entered into a loan financing arrangement in the amount of C$80.5 million pursuant to a secured debenture. In connection with the loan, TerrAscend has issued 17,808,975 common share purchase warrants to the company.

Canopy Growth initially co-invested in TerrAscend in November 2017. On Nov. 30, 2018, Canopy Growth announced the completion of a restructuring transaction with TerrAscend pursuant to which TerrAscend restructured its share capital by way of a plan of arrangement under the Business Corporations Act (Ontario).

"TerrAscend Canada has proven its ability to thrive and this loan is a strong signal that Canopy Growth is confident in their ability to execute over the long term," said David Klein, CEO of Canopy Growth. "We are encouraged by TerrAscend's strong performance and we view the team's experience as an important contributor to its continued success."

"We are pleased to receive this loan from Canopy Growth as we enter into the next stage of TerrAscend's growth and expansion," said Jason Ackerman, executive chairman and interim CEO. "We look forward to continuing to work with Canopy Growth as new opportunities emerge and the regulatory landscape evolves."

Use of Proceeds

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High Times Announces Trading Symbol Ahead of Planned Listing

Cannabis Business Times Marijuana News Thursday, 12 March 2020

Los Angeles, March 11, 2020 (GLOBE NEWSWIRE) -- PRESS RELEASE -- Hightimes Holding Corp., the owner of High Times, has announced that it has been approved for trading and has received its ticker symbol from FINRA. Upon completion of certain regulatory formalities, Hightimes will trade under the symbol “HTHC.”

The company, which is presently conducting a Reg A+ IPO, has garnered over $20,000,000 in investments from more than 25,000 shareholders. The High Times organization believes the ticker HTHC, an acronym for Hightimes Holding Corp., best identifies the company’s next chapter. The company polled its investors to decide the company’s ticker, receiving over 82% in support of the HTHC symbol.

“We’re extremely excited to shortly complete our Regulation A + process and commence trading--this approval for trading has been a long time coming! The support from our shareholders has been overwhelming, and this was really a decision which we sought input from our over 25,000 investors,” said Adam Levin, Hightimes Holding Corp.’s executive chairman. “We have an incredible community of investors who are actively engaging with our brand, and our community is growing by the day!”

“What better way to enter the public markets than crowdsourcing our ticker? This was truly a community decision. We wanted to open this up to our shareholders as this will be a symbol that defines us all for years to come,” Hightimes Chief Executive Officer Stormy Simon noted.

Levin continued, ”We believe that the Hightimes Regulation A+ investment campaign has proven to be one of the most successful offerings of its type - across any industry.”

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Senate Amendment Delays Implementation of Tennessee Medical Cannabis Legislation

Cannabis Business Times Marijuana News Thursday, 12 March 2020

The Tennessee Senate approved a bill to legalize medical cannabis in the state March 11, after the legislation was amended to delay its implementation until the federal government shifts its policy on cannabis, according to a Tennessean report.

Sen. Steve Dickerson and Rep. Bryan Terry introduced the bill to allow qualified patients to access cannabis oils, tinctures, lotions and capsules but not smokable cannabis, vapes or edibles.

The legislation would create a regulatory framework for licensed businesses to grow and sell cannabis products, and would establish a new regulatory body, called the Clinical Cannabis Commission, which would issue medical cannabis cards to patients with one of a few dozen qualifying conditions who have been given a recommendation from a medical practitioner.

Medical cannabis sales would have launched next year under the original version of the bill, but the new amendment, introduced by Sen. Bo Watson, delays the legislation’s enactment until if and when the federal government reclassifies cannabis from a Schedule I drug to Schedule II under the Controlled Substances Act, the Tennessean reported.

The legislation now advances to the Senate Government Operations Committee for further consideration, according to the news outlet.

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