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MjLink Cannabis Business News and Press

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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.

Dentons Welcomes Partner Kelly Fair to Its Cannabis group

Photo courtesy of Dentons
Kelly Fair

OAKLAND, Calif., October 26, 2022 – PRESS RELEASE – Dentons, one of the world’s largest law firms, has announced that Kelly Fair has returned to the firm. She is a partner in its Health Care and Cannabis practices. Fair rejoins Dentons after more than three years working at Canopy Growth Corporation, a global cannabis company, as its first-ever U.S. General Counsel.

In her role at Dentons, Fair will serve as external U.S. General Counsel to Canopy’s newly-formed U.S.-domiciled holding company in addition to focusing on other cannabis sector policy work. She will also assist clients with lending transactions, securities offerings, and other corporate and commercial transactions, along with cannabis regulatory and policy matters. With 17 years of in-house and major law firm experience advising high-growth industry companies and boards, she has an understanding and appreciation of the broad range of legal, regulatory, operational and financial considerations involved when working with clients in the cannabis environment.

RELATED: Canopy Growth to Acquire Acreage, Wana, Jetty in US Entrance

“Kelly’s time working in-house has allowed her to gain substantial experience and deeper knowledge of the cannabis industry, which will directly serve our clients,” said Eric Berlin, head of Dentons’ U.S. and global Cannabis groups. “Her experience brings a fresh and timely perspective on the challenges that companies face, well-positioning her to offer advice as they operate in the highly regulated and complicated industry.”

Fair previously managed all of Canopy’s U.S. and European legal affairs, global mergers and acquisitions, corporate governance and continuous disclosure. While navigating the limitations of U.S. federal and securities laws related to cannabis, Fair helped to develop innovative deal structures that grew the company’s U.S. footprint and built a first-class U.S. business, which ultimately led to the creation of Canopy USA, LLC.

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Highsman’s Ricky Williams and Ball Family Farms’ Chris Ball Collaborate for Cannabis Culture

If you know cannabis – especially in California – you know Ricky Williams and Chris Ball.

Ball, owner and CEO of Los Angeles-based Ball Family Farms, and Williams, founder and president of Highsman, partnered on a cultivar, Ricky Baker, released throughout the Golden State earlier this month.

Ball, the cultivator, and Williams, the connoisseur, are cut from the same cloth in many respects – including their shared passion for cannabis.

But their passion hasn’t always been rewarded, as both share past scrutiny and punishment for past cannabis involvement.

Williams, the 1998 Heisman Trophy winner (awarded to the nation’s top collegiate football player) and former NFL star, was suspended from the NFL twice during his career for failed drug tests due to cannabis, which violated the league’s substance-abuse policy. He abruptly retired before the 2004 season after facing a four-game suspension and $650,000 fine from the league but returned in 2005. He was then suspended for the entire 2006 season before eventually retiring in 2011.

Ten years later, in 2021, Williams founded Highsman.


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Sean Cooley, Highway Cannabis Director of Marketing, Passes Away at 38 Years Old

MARINA DEL REY, California, October 26, 2022 - PRESS RELEASE – It is with great sadness that we are officially announcing the passing of Highway Cannabis Director Sean Cooley. Cooley passed away Oct. 8 due to a medical emergency. He is survived by his wife, Christine.  

Cooley joined the senior leadership team at Highway in mid-June as part of a launch plan to accelerate product innovation and drive brand awareness, slated to launch its flagship cannabis dispensary in Marina del Rey in November. Cooley had been actively working on the Highway brand launch, and grand opening party up until his passing and has deeply made a positive impact on everyone he encountered. 

© Courtesy of Highway Cannabis Company
Cooley

“I was able to work with Sean intimately over the past four months and truly appreciated his hard work, dedication, creativity, but most of all, his passion that he brought to the team each and every day. Please keep Sean’s family and friends in your thoughts as they go through this difficult time,” said Chris Colón, CEO and founder of Highway Cannabis Company. “For many of us we have not only lost a co-worker, but also a friend.”

Cooley had spent 19 years in content marketing, the past five in the cannabis industry, holding several senior positions at tech and media companies. He was a director of content marketing at Weedmaps, a senior editor and writer at Thrillist, and a content director at High Times. Most recently, Cooley headed marketing operations at Grassdoor, where he played a key role in scaling the growth strategy for the best-in-class delivery technology platform. 

Cooley was a beloved member of the LLS family who changed the lives of everyone who came in contact with him. In 2021, he competed as a Man of the Year candidate, raising over $200,000 in honor of his father, Gregg, who passed away from cancer. Sean was truly a changemaker and was always looking to lend a helping hand. His impact will continue to be felt by cancer patients and their families and will improve their quality of life for years to come, a cause near and dear to Cooley heart. Cooley family has asked in lieu of flowers to consider making a donation to LLS at here.

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South Dakota Sees Rise in Medical Cannabis Patient Registrations

South Dakota has seen an increase in medical cannabis patient registrations as many individuals are obtaining their patient cards through “pop-up clinics.”

As of Oct. 24, there are 4,202 registered patients–a 125% increase from Aug. 1, which recorded 1,867 patients.

A state health official told lawmakers Oct. 25 that the rise in registered patients is due to individuals obtaining their cards through ‘pop-up clinics rather than typical medical providers, The Associated Press reported.

AP reported individuals go to a pop-up clinic and have a short consultation with a physician who then certifies if they have a qualifying condition for cannabis.

According to the news outlet, legislative committee members argue that consultations are not a long enough process to qualify patients, as sometimes they last under five minutes.

Melissa Mentele, a sponsor of the 2020 ballot initiative to legalize medical cannabis in South Dakota, said patients are using pop-up clinics due to the state’s health systems refusing to participate in the medical cannabis program, AP reported

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Biden's Order to Review Cannabis 'Truly Historic,' But What's at Stake?

Editor’s Note: Cannabis Business Times Editor Theresa Bennett, Associate Editor Andriana Ruscitto and Managing Editor Patrick Williams contributed to this report.

During the past 50 years—and especially during the past decade, as more states legalized medical and adult-use consumption and sales—there have been several petitions, bills, resolutions and other pushes for the federal government to review cannabis’ Schedule I status in the Controlled Substances Act.

These requests have come from cannabis advocacy organizations, medical associations and Democratic and Republican politicians.

The DEA has repeatedly rejected petitions for Schedule I removal.   

But until this month, when President Joe Biden announced he would pardon thousands of people with previous federal cannabis possession charges, urge governors to do the same at the state level, and request that secretary of Health and Human Services (HHS) Xavier Becerra and Attorney General Merrick Garland review cannabis’ Schedule I status, those calls to reform cannabis policy have not come from the top.

That’s significant and “truly historic,” says Kris Krane, who was at the helm of multistate cannabis operation 4Front Ventures for 10 years and now serves as CEO of strategic consultancy Kranewreck Enterprises and as director of cannabis development for KCSA Strategic Communications.


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Michigan’s New Top Cannabis Regulator Takes Aim at Bad Actors

Complaints of illicit cannabis finding its way into the regulated market has caught the ear of Michigan’s new top cannabis executive.

Brian Hanna, who was appointed the acting executive director of the state’s Cannabis Regulatory Agency (CRA) on Sept. 15, said during a roundtable interview Oct. 25 in Lansing that changes are coming before the end of the year to beef up oversight tracking measures and expose bad actors, The Detroit News reported.

Proper tagging and registering of products in Metrc, Michigan’s statewide seed-to-sale tracking system, and proper maintenance of required surveillance cameras are among the issues CRA officials plan to focus on during the coming months, the news outlet reported.

“If there’s anybody cutting corners or cheating, we want to expose that and take a strong enforcement approach on that,” Hanna told media members during the roundtable.

Hanna, who spent five years with the CRA as the manager of field operations, inspections and investigations, outlined the agency’s ongoing oversight efforts on the heels of disciplinary action earlier this month against a Detroit medical operator for having unmarked bags of cannabis product without tracking numbers.

RELATED: Regulators Issue 30-Day Suspension, $75K Fine to Detroit Cannabis Licensee

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German Health Minister Presents Cannabis Legalization Plans to Government Officials

German Health Minister Karl Lauterbach presented a cornerstone paper on planned legislation to federally legalize adult-use cannabis to Chancellor Olaf Scholz’s cabinet Oct. 26 after the plans leaked to the media last week.

Lauterbach included in his presentation a survey estimating that roughly 4 million adults already use cannabis in Germany, suggesting a thriving illicit market in the country, according to a DW report.

The current drug policy, Lauterbach said, must be revised since Germany’s current laws have not limited consumption and have instead led to cannabis consumers “falling into an undertow of crime,” the news outlet reported. Lauterbach added that legalization will result in better health policies and increased protections for minors, according to DW.

Lauterbach said the legalization plan is “the most liberal legalization of cannabis in Europe,” and that it would set up “the most regulated market” in the EU, the news outlet reported.

RELATED: The State of European Cannabis Reform: Fall 2022 Update

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CCELL Launches New Heating Technology, CCELL EVO

SHENZHEN, China, Oct. 26, 2022- PRESS RELEASE - CCELL, a technology brand focused on creating trendsetting vape hardware products and advanced vaporization technology, announced the launch of CCELL EVO, a revolutionary new heating technology succeeding its first generation ceramic heating platform that made its debut in the vaporizer industry in 2016.

The cannabis market is continually changing, as are consumer preferences. With the rapid increase in the diversity of cannabis extract types, CCELL has observed a new trend where consumers and brands are seeking a versatile solution that is compatible with more than just traditional distillates. Moreover, the vaporizer market currently sees a high demand for an excellent balance between flavor and vapor production, and CCELL EVO was engineered precisely to meet this need.

CCELL EVO is not only compatible with traditional distillates, but also with high terpene extracts that are known to be more difficult to vaporize. CCELL EVO brings unprecedented performance and an experience unmatched by any other heating platform. Follow this link to watch EVO's launch video.

“Our new heating technology was made possible through the implementation of scientifically calculated, consistent pore distribution and even heat distribution, effectively increasing thermal efficiency by 25% and atomizing a wider variety of cannabinoids," says Joe S., vice president of product at CCELL. “This breakthrough technology provides smoother and truer-to-plant flavors, larger clouds of vapor, and a higher level of safety to end users.”

CCELL EVO is also crafted with environmental concerns in mind, as its ceramic cores are cast in aqueous systems that require a third less processing, resulting in 35% less greenhouse gas emissions. The new heating technology and its components have been tested by seasoned cannabis consumers in North America and have received positive feedback all around. Users have reported a 50% increase in vapor production for live resin products, and a 28% increase in vapor production for THC distillates, while flavor and taste have been enhanced by 34% and 21%, respectively.

Visit www.ccell.com to learn more about its products, and keep informed on its latest updates.

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Brittney Griner Appeal Denied By Russian Court

Brittney Griner’s appeal of her nine-year prison sentence for cannabis possession was denied by a Russian court on Tuesday, according to news reports.

At the hearing, court officials said Griner’s prison time would be adjusted to reflect the time she’s already served in pretrial detention, with each day there counting as 1 1/2 days in prison, according to The Associated Press.

“We are aware of the news out of Russia that Brittney Griner will continue to be wrongfully detained under intolerable circumstances after having to undergo another sham judicial proceeding today,” said National Security Advisor Jake Sullivan in a statement from the White House. “President Biden has been very clear that Brittney should be released immediately. In recent weeks, the Biden-Harris administration has continued to engage with Russia through every available channel and make every effort to bring home Brittney as well as to support and advocate for other Americans detained in Russia, including fellow wrongful detainee Paul Whelan. The President has demonstrated that he is willing to go to extraordinary lengths and make tough decisions to bring Americans home, as his administration has done successfully from countries around the world. The administration remains in regular touch with representatives of the families, and we continue to admire their courage in the face of these unimaginable circumstances.”

RELATED: Brittney Griner Pleads with President Biden: ‘Please Don’t Forget About Me’

The eight-time WNBA al-star (seven as a player, one as honorary member in 2022) was originally charged with possessing cannabis vape cartridges while traveling through Sheremetyevo International Airport near Moscow in February.

Griner was convicted of cannabis possession charges on Aug. 4 after a more than month-long trial that began July 1. In addition to her nine-year prison sentence in August, Griner was fined 1 million rubles ($16,950 USD) by Judge Anna Sotnikova.

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Medical Cannabis Stakeholders Cautiously Optimistic About Germany’s Leaked Adult-Use Legalization Plans

Germany’s plans to legalize adult-use cannabis were leaked last week, and while a legalization bill has yet to be formally introduced, medical cannabis stakeholders are cautiously optimistic about the initial blueprint for a regulatory framework.

“People are keeping a close eye on Germany to see what happens, and if we succeed, it will be great news for the cannabis industry and for the cannabis plant in Europe,” says Niklas Kouparanis, CEO of Bloomwell Group, one of Germany’s largest medical cannabis operators.

A “cornerstone paper” that has been circulating among government officials leaked to the RND newspaper group Oct. 19. The paper, essentially a blueprint for how Germany plans to legalize and regulate adult-use cannabis, stems from a months-long inquiry by Burkhard Blienert, Germany’s commissioner on narcotic drugs.

RELATED: Germany’s Cannabis Legalization Plans Revealed

Any forthcoming legalization bill would be based on Blienert’s plan, which proposes decriminalizing the purchase and possession of up to 20 grams of cannabis for adults, as well as legalizing the cultivation of up to two plants at home.


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Alabama Regulators Send Medical Cannabis License Applications to Business Hopefuls

The Alabama Medical Cannabis Commission (AMCC) sent medical cannabis license applications to business hopefuls Oct. 24, taking another step forward in rolling out the medical cannabis program that Gov. Kay Ivey signed into law last year.

Regulators accepted requests for applications from Sept. 1 through Oct. 17 and received 607 total requests, according to a local WAFF report.

The majority of the requests poured in from Madison, Jefferson and Montgomery counties, the news outlet reported.

RELATED: Executive Teams Now Requesting Applications for Medical Cannabis Business Licenses in Alabama

The applications, which are for prospective medical cannabis cultivators, processors, transporters, testing laboratories, dispensaries and vertically integrated operations, are due back to the state by Dec. 30.

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Hong Kong to Ban CBD Starting February 2023

The Hong Kong government announced Oct. 20 that it is banning CBD and will move it to theDangerous Drugs Ordinance (DDO), placing it in the same category as heroin,cocaine, and methamphetamine, starting Feb. 1, 2023.

After Feb. 1, any individualwho manufactures CBD products could face a maximum penalty of life imprisonmentand a $5 million fine. Individuals who possess or consume such products couldface up to seven years in prison and a $1 million fine, according to therelease.

CBD products are currentlylegal in Hong Kong if they do not contain any traces of THC, the primarypsychoactive constituent of cannabis. THC is illegal in Hong Kong for itspsychoactive properties and is the First Schedule to DDO, according to agovernment document.

The government argued while “CBD, in its pure form, is not psychoactiveand is not associated with abuse potential,” according to the “GovernmentLaboratory (GL), where CBD is extracted from cannabis, it is very difficult toisolate pure CBD from cannabis, and it would not be practical to completelyremove THC impurities from CBD isolates.”

The government also notedthat CBD products risk cross-contamination of THC during the production processand that it is “inevitable that CBD products manufactured from CBD isolatescontain certain levels of THC, even though at trace levels or levels below thedetection limits of various analytical methods.”

GL officials added that CBDcould naturally convert into THC when exposed tocarbon dioxide in air and water, as it may act as a catalyst for the conversion.

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Support Shrinks for Arkansas Adult-Use Cannabis Measure

Support for Arkansas’ adult-use cannabis ballot initiative, Issue 4, appears to have lost steam in the past month as opponents continue to lambast the legalization initiative ahead of Election Day.

Roughly 50.5% of Arkansans are in favor of the November 2022 ballot measure, while 43% oppose it and 6.5% remain undecided, according to pollsters from Talk Business & Politics-Hendrix College, who conducted a survey Oct. 17-18 with input from 974 likely voters.

While the majority opinion still holds a 7 1/2-point lead in that poll, the results indicate the issue’s backing is fading quickly. Last month, TB&P-Hendrix pollsters announced that majority support held a 58.5% to 29% lead during a Sept. 12 survey, when 12.5% of respondents were undecided.

In other words, support for the issue fell eight points, while opposition rose 14 points in a little more than a month between the two surveys.

“Issue 4, which would legalize adult-use cannabis, has seen tremendous movement over the past month,” TB&P Editor-in-Chief Roby Brock said in announcing the more recent poll. “Opponents have been able to improve their standing by swaying undecided voters and even peeling off some soft support that was once there. I think the media campaigns for and against this measure make it the most interesting statewide race to watch on election night.”

Sponsored by Responsible Growth Arkansas—which is led by former Arkansas state Rep. Eddie Armstrong (D)—Issue 4 would legalize cannabis for adults 21 and older, including the possession of up to 1 ounce.

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Cresco Labs Announces Board Director Sidney Dillard’s Resignation

CHICAGO, Oct. 24, 2022 – PRESS RELEASE – Cresco Labs, a vertically integrated multistate operator and the No. 1 U.S. wholesaler of branded cannabis products, announced that board director Sidney Dillard has tendered her resignation. Dillard has accepted a board position at a large national health insurance provider and is resigning from her Cresco Lab’s board position to avoid any potential regulatory conflicts.

“We are disappointed to see Sidney go, but we wish her the best in her new endeavor. I know she will be the same trusted adviser, independent voice, and driver of evolution in her new role,” Cresco co-founder and CEO Charles Bachtell said. “Sidney’s depth of experience and professionalism has set the bar high, and we will ensure that our board continues to have industry leading diversity of experience and knowledge.”

Dillard said, “I’d like to thank Cresco for the wonderful experience of working with an incredible team and a true industry leader focused on developing a diverse, responsible, respectable and robust cannabis industry. I’m confident they will have continued success, and I look forward to watching from the sideline as they achieve their goals and mission. Unfortunately, today’s federal legal structure can force experienced professionals needed to shape the future of this industry to make difficult choices—I am hopeful that this will be addressed in the near future.”

Dillard’s resignation is effective immediately.

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SEC Charges Canadian Cannabis Company, Former Senior Executive With Accounting Fraud

WASHINGTON,D.C., Oct. 24, 2022 – PRESS RELEASE – TheSecurities and Exchange Commission (SEC) on Oct. 24 charged Cronos Group Inc.,a Nasdaq-listed cannabis company based in Toronto, for improperly accountingfor millions of dollars of revenue and for other accounting misconduct inmultiple reporting periods. The SEC also charged Cronos’ former chief commercialofficer, William Hilson, with fraud and aiding and abetting the company’sviolations. In agreeing to settle with Cronos, the commission determined thatthe company should not incur a financial penalty, given its timelyself-reporting, significant cooperation and remediation.

According to the SEC’s order, in three separate quartersbetween 2019 and 2021, Cronos submitted financial statements with the SEC thatcontained material accounting errors related to, among other things, revenuerecognition and goodwill impairment. The order also found that, in one of thequarters, Hilson entered into an undisclosed oral agreement to sell cannabisraw material and to repurchase cannabis product in the following quarter. Thisagreement was neither known nor accounted for by Cronos, which discovered the$2.3 million accounting error during an internal investigation. After discoveringthe accounting errors, Cronos promptly reported the misconduct to the SEC andprovided extensive cooperation that meaningfully advanced the commission’sinvestigation. It also took effective remedial steps to enhance its internalaccounting controls.

“It is critically important for issuers to have adequatecontrols in place before they take on the reporting obligations required ofpublic companies," said Mark Cave, associate director in the SEC’sEnforcement Division. “While today’s order finds that Cronos’ controls were notup to standards when it began filing financial statements with the SEC, Cronosavoided penalties by promptly self-reporting its accounting misconduct as itcame to light within the company, cooperating with our investigation, andpromptly taking effective remedial steps.”

The SEC’s order against Cronos finds that the companyviolated the antifraud, reporting, books and records, and internal controlsprovisions of the federal securities laws. The SEC’s order against Hilson findsthat he violated the antifraud provisions of the federal securities laws andfurther aided and abetted and caused Cronos’ violations of the reporting, booksand records, and internal controls provisions.

Without admitting or denying the SEC’s findings, Cronos andHilson offered to settle the matter by agreeing to cease and desist from futureviolations of the charged provisions. In addition, Cronos agreed to retain anindependent compliance consultant to review, assess and make recommendationswith respect to the firm’s financial reporting and accounting controls. Hilsonagreed to a three-year officer and director bar and agreed to be suspended fromappearing and practicing before the SEC as an accountant for at least threeyears. The commission determined not to impose a financial penalty on Hilson inlight of his consent to pay CA$70,000, or approximately US$54,000, to theOntario Securities Commission for similar conduct.  

The SEC’s investigation was conducted by Kendra Kinnairdand John Higgins, with the assistance of Marlee Miller and Bonnie Kartzman inthe Office of International Affairs. The investigation was supervised by FuadRana and Kristen Dieter. The SEC appreciates the assistance of the OntarioSecurities Commission.

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Verts Neighborhood Dispensary Expands to Missouri and Michigan

GALLATIN, Missouri, Oct. 25, 2022 - PRESS RELEASE- Verts Neighborhood Dispensary announced it is expanding its brand into the Missouri and Michigan markets. This includes opening four new locations in Missouri: Dexter, Pacific, Gallatin, and Joplin. The company has already received great feedback and is excited to continue to bring the magic of cannabis to this area. 

Verts Neighborhood Dispensary has ongoing expansion projects, which include adding dispensaries in Michigan. These expansion projects are geared toward the west side and upper peninsula of Michigan.

Since 2014, the company has been helping folks enjoy the medicinal benefits of cannabis. Verts started in the Colorado Front Range area, serving various customers aged 21 and older seeking to find relief from various ailments or utilize cannabis recreationally.

Verts Neighborhood Dispensary prides itself on providing customers with the highest quality dispensary experience. The company hires knowledgeable, hospitable, and local team members who serve customers with respect and guidance. 

To convey the culture of community online, Verts Neighborhood Dispensary is excited to announce it is revamping its online presence. Verts has teamed up with Abstrax to create a new website that truly conveys its philosophy.

"We're excited to partner with Verts Neighborhood Dispensary creating their new website aligning with [its] rebranding as [it is] rapidly expanding and continue to serve [its] community firsthand," says Charlie Hernadez, Abstrax Web CEO.

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High Tide Opens Third Canna Cabana Store in Vancouver, British Columbia

CALGARY, Alberta, Oct. 25, 2022 - PRESS RELEASE - High Tide., a retail-focused cannabis company with bricks-and-mortar as well as global e-commerce assets, announced that its Canna Cabana retail cannabis store located at 5628 Dunbar Street in Vancouver, British Columbia, will begin selling adult-use cannabis products and consumption accessories Oct. 25. This opening marks High Tide's 141st Canna Cabana branded retail cannabis location in Canada, fourth in British Columbia and third in Vancouver. This is the first Canna Cabana location in Dunbar Village, Vancouver, located around the corner from a major national grocery chain and a popular Vancouver liquor store. It is also a short drive from both the University of British Columbia and Langara College, which collectively have a student population of over 80,000.

"I am pleased to announce the opening of our third Canna Cabana location in Vancouver, which is the epicenter of world-famous BC bud. Vancouver is an important market to expand our Canna Cabana brand into due to its large population, popularity with tourists and favorable municipal distance requirements between cannabis stores, yielding greater returns over other markets. Through the opening of this Dunbar Village store, we are further expanding our innovative discount club model, which provides a large assortment of high-quality cannabis and cutting-edge consumption accessories at unbeatable prices", said Raj Grover, High Tide president and CEO.

"Our other three locations in BC, which include Fort St John in Northern British Columbia as well as Yaletown and Olympic village locations in Vancouver, continue to see increasing customer counts and sales. This Dunbar location is the second organically built retail store for High Tide in British Columbia and, combined with recent acquisitions of Choom and Jimmy's Cannabis stores, brings us close to ending the 2022 calendar year with eight stores in the province, the maximum currently permitted for any entity," Grover added.

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Canopy Growth to Acquire Acreage, Wana, Jetty in US Entrance

A month after Ontario-based Canopy Growth Corp. officials announced they were exiting the cannabis retail market in Canada, details emerged Oct. 25 that the company is accelerating plans to enter the U.S. market via three acquisitions.

Canopy Growth announced Tuesday the creation of a new U.S.-domiciled holding company, Canopy USA LLC, for its U.S. cannabis investments, which will enable the company to exercise rights to acquire multistate operator Acreage Holdings, leading cannabis edibles company Wana Brands, and Jetty Extracts. In addition, the new holding company will allow Canopy Growth to gain a minority ownership stake in multistate operator TerrAscend Corp.

“As the growth of the U.S. cannabis market continues rapidly at the state level, this strategy enables us to take control of our own destiny and capitalize on the once-in-a-generation opportunity in the largest cannabis market in the world,” Canopy Growth CEO David Klein said in a press release. “We expect to unleash the full power of Canopy’s scalable and ideally positioned U.S. cannabis ecosystem to unlock potential expansion opportunities. This strategy and positioning are true differentiators, which we expect to enable our investors and brands to realize value in the near term while positioning Canopy for profitable growth and a fast start upon U.S. federal permissibility.”

According to the release, Canopy Growth’s “U.S. cannabis ecosystem” has an established presences across large-scale and rapidly developing adult-use markets, including 21 states: Arizona, Arkansas, California, Colorado, Connecticut, Florida, Illinois, Maine, Maryland, Massachusetts, Michigan, Missouri, Nevada, New Hampshire, New Jersey, New Mexico, New York, Ohio, Oklahoma, Oregon and Pennsylvania.

Acreage CEO Peter Caldini said his New York-based company’s integration into Canopy’s U.S. ecosystem will allow shareholders of both companies to participate in a “strategic market opportunity” with aligned interests.

“An exciting evolution is now taking place in the U.S. cannabis industry, and the time is now to accelerate our union with Canopy and leverage the solid foundation we have built to fully participate in an unmatched U.S. ecosystem alongside other market leaders,” Caldini said in a public statement. “Acreage is a valuable addition to what Canopy is building, and we are excited about the opportunities to collaborate more directly with Jetty and Wana on product innovation and market expansion, creating an even stronger position ahead of federal permissibility as part of a leading North American brand powerhouse.”

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Metrc Announces Sustainable Tag Solution For Seed-to-Sale Tracking

LAKELAND, Fla., Oct. 25, 2022 (GLOBE NEWSWIRE) -- PRESS RELEASE -- Metrc, a provider of cannabis regulatory technology systems in the U.S., announced the launch of sustainable radio frequency identification (RFID) plant tags developed to reduce waste, resulting in better all-around environmental performance. To ensure the success and adoption of the new plant tags, Metrc is initiating a pilot test program for select state agencies and licensees to provide feedback on the tag’s design, durability and readability.

Metrc has been developing its sustainable tag solution to showcase its dedication to cannabis industry stakeholders, the communities they serve, and the overall environmental well-being of the planet. This commitment drove the company to formulate sustainable paper plant tags that maintain durability and RFID technology efficiency. Metrc’s sustainable RFID tags are designed to improve compliance auditing and reporting, carrying embedded security advantages over other systems and arriving regulation-compliant and ready for use. Licensees do not need special printing equipment to create tags and labels, reducing errors and waste while saving businesses time and money.

“The launch of our sustainable RFID tags creates an environmentally friendly option for our licensees across the country,” said Michael Johnson, CEO of Metrc. “We are confident that our breakthroughs in RFID technology and compositions will allow us to continue improving the sustainability of our tags down the line, and we look forward to receiving real-time feedback from our partners participating in the pilot program.”   

In alignment with state agencies, Metrc’s nine-week pilot test program will permit licensees to evaluate the new tags' design, effectiveness and usability, including tag perforation and ease of tag separation, durability and readability, and more. Licensee participants will receive pilot test instructions and plant tags and straps shipped directly to their facility, free of charge, along with dedicated support to track feedback throughout the testing process, including completion of the program.

The sustainable tags developed by Metrc contain 30% post-consumer waste (PCW), providing a steady source of demand for recycled paper products, 10% hemp, and 60% responsibly sourced Forest Stewardship Council (FSC) certified virgin paper fiber. The inclusion of hemp fiber to the PCW greatly improves tag durability, and by using recycled materials instead of new resources, Metrc is significantly reducing energy consumption, carbon emissions, waste in landfills, and water usage. In addition to reducing plastic use and waste, adding hemp and PCW saves 302,000 pounds of wood, equivalent to 910 trees per year, based on industry calculations of the production of 226,000 pounds of material. The base material of the sustainable tags is made with 100% renewable Green E-certified wind-powered electricity (RECs) under a third-party certified ISO 14001 Environmental Management System and is manufactured carbon neutral (VERs), offering additional environmental benefits to the materials and process.

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Curaleaf Retail Workers Join Local Union in Edgewater Park, NJ

Cannabis dispensary workers at multistate operator Curaleaf’s Edgewater Park, N.J., location voted to join the United Food and Commercial Workers (UFCW) Local 360 union, organizers announced Oct. 20.

There are approximately 35 workers at that location, UFCW Local 360 Director of Organizing Hugh Giordano told Cannabis Business Times.

Curaleaf’s Edgewater Park location expanded to serving adult-use cannabis customers on May 24—roughly a month after commercial adult-use sales commenced in New Jersey.

“Votes like this will keep New Jersey’s cannabis economy thriving for years to come. A whole new generation of workers is discovering that labor unions play a critical role in balancing the needs of employees, communities and employers, and they want in,” Giordano said in a Local 360 press release. “And when we take the recent decision to pardon people convicted of ‘simple possession’ into account, it’s clear that the mission of protecting cannabis workers in their workplaces, and establishing a fair and equitable industry that supports family sustaining jobs, is making serious progress.”

Curaleaf’s Edgewater Park dispensary was among 13 retail facilities originally approved by the state’s Cannabis Regulatory Commission to launch adult-use sales on April 21, but that location remained a medical-only facility for an additional month in order to satisfy local land-use conditions to build a larger parking lot, drainage basins and additional lights.

RELATED: New Jersey Approved 13 Adult-Use Dispensaries; Only 12 Running

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