MjLink Cannabis Business News and Press

Calvin Johnson used the highest stage reserved only for athletes at the pinnacle of his sport to share his passion for cannabis.

At his induction ceremony into the NFL Hall of Fame last April, the former Detroit Lions wide receiver—widely regarded as one of the best players ever at his position—spoke of a “primitive” and “healing” plant that helped him survive nine years of grueling physical punishment from some of the world’s hardest-hitting cornerbacks and linebackers.

He was talking, openly, about cannabis.

It was a stunning moment for the NFL community. The world’s most lucrative and popular sports league has long held a hardline anti-cannabis stance. Even now, testing positive for THC during the season lands players an automatic suspension.

“I’m a firm believer that the Lord put everything on this earth that we need to heal our body,” Johnson said in an interview with Cannabis Business Times. “I apply that to my food, my supplements and now my medicine.”

Inspired by his passion for the plant and personal need for physical healing, Johnson and former Detroit Lions teammate Rob Sims opened a cultivation facility in the nearby town of Webberville, Mich., back in 2019. After COVID-19 stalled the duo’s plans for a retail store, Primitiv dispensary finally launched earlier this year in the small city of Niles, 150 miles southwest of Webberville on Michigan’s border with Indiana.

EDMONTON, AB, June 3, 2022 /CNW/ --PRESS RELEASE-- Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), the Canadian company cannabinoids worldwide, today announced that it has repurchased an aggregate of approximately $25.3 million (US$20 million) principal amount of its convertible senior notes at a total cost, including accrued interest, of $24.3 million (US$19.2 million) in cash.

The purpose of the transaction, which represents a repurchase of a portion of the Notes at a 5.25% discount to par value, was to reduce the company's debt and annual cash interest costs. Annual cash interest savings from the repurchases of Notes made from Q3 2022 onwards now total $9.5 million (US$7.5 million).

Aurora's balance sheet is among the strongest in the industry with approximately $455 million in cash inclusive of the transaction announced today, and the company reiterates its expectation of achieving a positive Adjusted EBITDA run rate by the first half of fiscal 2023.

This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering would be unlawful.

South Dakota voters will once again decide on adult-use cannabis legalization this year after state officials approved a legalization measure for the state’s 2022 ballot.

Secretary of State Steve Barnett validated South Dakotans for Better Marijuana Laws’ (SDBML) measure May 25, according to a local Dakota News Now report.

The measure will be titled Initiated Measure 27 and appear on South Dakota’s General Election ballot on Nov. 8, the news outlet reported.

RELATED: Voters in These 9 States Could Decide Cannabis Fate in 2022

SDBML had to gather roughly 17,000 valid signatures to get its measure before voters, and the group submitted those signatures to the Secretary of State’s office May 3.

As New York cannabis regulators steady the ship for the launch of adult-use sales by the end of the year, the state’s Cannabis Control Board (CCB) members approved June 1 their first regulations for the broader market.

Those regulations establish specific parameters for packaging and labeling, marketing and advertising, and laboratory testing in the forthcoming industry.

The board members’ unanimous approvals on Wednesday came after nearly three months of work by Office of Cannabis Management (OCM) officials to carry out the state’s Seeding Opportunity Initiative, which aims to position individuals with prior cannabis-related criminal offenses to make the first adult-use cannabis sales with products grown by New York farmers.

Specifically, through OCM recommendations, CCB members have approved 162 existing hemp farmers for conditional adult-use cannabis cultivation licenses for the 2022 growing season, including their latest batch of 16 approved applicants on Wednesday.

While the Seeding Opportunity Initiative guides initial steps toward developing a “strong” adult-use market, CCB Chairwoman Tremaine Wright said she and her colleagues recognize that “there is so much more to do in order to establish a robust adult-use cannabis market” in New York.

“So today, we’re going to consider two sections of regulations that will be a part of the broader and much-anticipated adult-use regulations,” she said during Wednesday’s regular meeting.

Illinois has awarded 48 long-awaited craft grow cannabis licenses that had been delayed due to litigation brought by unsuccessful applicants.

The Illinois Department of Agriculture (IDOA) announced June 1 that it issued the licenses, completing the licensing round that launched in December 2021.

The full list of licensees is available here.

Of the newly issued licenses, 20 (42%) went to Black-owned businesses, 17 (36%) went to white-owned operations and four (8%) went to Hispanic-owned companies, according to the IDOA’s press release. Eight percent of the licensees are owned by a partnership group, while 6% did not provide that information.

All of the licenses were awarded to entities that Illinois defines as Social Equity Applicants, according to the IDOA’s announcement.

For Q1 2022, there were 70 capital raises totaling $1.2 billion. Compare that with Q1 2021, which saw 163 capital raise transactions totaling $4.6 billion. That’s a decline in transactions of 57% and a decline in total capital raised by ~74%.

So, what’s happening here? 

To be fair, Q1 2022 followed a strong first quarter when the number of capital raise transactions and total invested capital reached historic levels.

Nonetheless, the quarter reflected a sharp falloff in investor interest in the cannabis sector due to:

1) any legislative progress re cannabis legalization;

2) declines in the market valuation of public cannabis companies, which made equity issuances dilutive and expensive;

Tilt Holdings and Highsman agreed to a manufacturing and distribution partnership in  Massachusetts and Pennsylvania.

Tilt will offer Highsman products across retail stores in both states starting in September to mark the start of the 2022 football season.

“Authenticity and unique brand architecture are two of the most important considerations for Tilt when evaluating potential brand partnerships. You would be hard-pressed to find a group more equipped to meet those criteria than Ricky and the team he has assembled at Highsman,” said Gary Santo, CEO of Tilt Holdings. “As the stigma around cannabis continues to fade within the general population, most athletes are still playing in organizations slow to slow the use of cannabis for wellness and recovery. Tilt is committed to delivering a broad selection of the highest quality cannabis brands to the markets we serve, while helping independent brands expand and scale. We are thrilled to bring our unique and distinctive level of partnership to the table for Highsman and introduce this exciting brand to the East Coast.”

RELATED: From Heisman Winner to Highsman Owner

The partnership with Tilt marks the introduction of Highsman products to the East Coast, expanding the company’s reach since launching operations in November 2021. Highsman’s product line includes three cultivars: Pregame, Halftime, and Postgame.

“2022 marks a year of considerable growth for Highsman, and we are proud to partner with Tilt as we enter our first East Coast markets,” said Eric Hammond, CEO of Highsman. “Tilt has a proven track record of significantly expanding the footprint of the cannabis brands they work with, and I am confident that our strategic partnership will further establish Highsman as a leading national brand.

WASHINGTON, D.C., June 2, 20211 - PRESS RELEASE – Advocacy organizations Marijuana Matters, Minority Cannabis Business Association (MCBA), Minorities for Medical Marijuana (M4MM) and Women Grow to launch #SAFE4Equity, a campaign to inform cannabis operators, industry stakeholders, congressional leaders, and the general public about the crucial need for the Secure and Fair Enforcement Act (SAFE Banking Act). SAFE Banking is included in the House-passed version of the America Creating Opportunities for Manufacturing, Pre-Eminence in Technology, and Economic Strength Act of 2022 (COMPETES Act). #SAFE4Equity supports the inclusion of the SAFE Act in the final package currently being negotiated by the Senate to provide relief for small minority-owned cannabis businesses.

The campaign kicks off on June 2, 2022, with the re-launch of safe4equity.org website and the SAFE4Equity social media channels that will provide timely information relating to the SAFE Act, updates on its movement through the Senate, as well as testimonials from minority cannabis entrepreneurs currently impaired by the limited access to banking services.

The campaign’s mission is to bring light to the fact that equitable access to capital and banking services is critical on the path to social and economic justice through cannabis reform. Without it, small, minority- and women-owned cannabis businesses fail to have the resources necessary to operate safely and effectively but moreover compete at a higher scale to run their enterprises. The SAFE Act is the essential piece of legislation that will begin to alleviate the burdens many of these smaller operators face and offer a solution to support their business growth.

SAFE Banking Act lead sponsor, Congressman Ed Perlmutter, has been a staunch advocate for equitable cannabis banking and has worked to pass the bill in the U.S. House of Representatives six times while continuing to garner bipartisan support. Perlmutter joins #SAFE4Equity in the call for the Senate to pass the SAFE Banking Act this year either through the America COMPETES conference committee negotiations or as a standalone bill. 

“I appreciate SAFE4Equity’s support of the SAFE Banking Act and their ongoing advocacy for federal cannabis reform. SAFE Banking is only one piece of the puzzle, but it is a critical piece of reform that underserved communities and small businesses need now,” Perlmutter said. “It is imperative that the conference committee solve this problem as soon as possible to begin to alleviate the threat of public safety and inequity which threatens communities and emerging small businesses across the country.” 

CO2Meter Inc., a leader in gas detection, monitoring, and analytical devices, released its new RAD-0502 - dual sensor CO2 controller for grow rooms that can monitor and control carbon dioxide concentrations at two locations from 0 to 3,000ppm. The dual sensor CO2 grow controller will now provide both indoor growers and mushroom farmers the ability to control consistent CO2 levels throughout their grow space all from a central display panel.

“Our original RAD-0501 Controller is considered the gold standard for home growers and mushroom farmers. When we studied the market, we clearly saw a gap between our original RAD-0501 and the larger commercial controllers in the market. The RAD-0502 now provides indoor growers around the globe with a simple and affordable way to understand and adjust CO2 levels to optimize their growing processes.”, noted Melyssia Santiago, CO2Meter’s VP of Sales. 

“Now our customers in two agricultural segments will get the added benefits of the CO2 control: growers can now control a single larger space or two different room simultaneously, and mushroom farmers now have a quality device to control ventilation.” added Santiago.

While monitoring up to two grow room locations is a significant benefit for indoor agriculture monitoring, it is not the only new feature that can be found in the RAD-0502. Customers will be able to control and monitor not only CO2 levels, but also control light, temperature, and humidity, for a full-scale optimized grow room approach. In turn, achieving unprecedented quality and yields.

Additionally, each sensor triggers individual relays allowing the end-user to control each sensor's precise location in the facility. Whether you are looking to control grow room lighting, HVAC systems, exhaust fans, CO2 generators, or CO2 cylinders the RAD-0502 can control and monitor multiple locations at any given time. The RAD-0502 settings are user configurable, enabling the customer to apply their preferred settings for their application. And, for those looking to use the device globally, it also features a universal power supply allowing our international customers ease of use without having to use adapters.

RAD-0502 CO2 Controller for Grow Rooms

ORANGE COUNTY, CA | June 2, 2022 – PRESS RELEASE – Tyson 2.0, legendary boxer, entrepreneur and cannabis advocate Mike Tyson’s cannabis brand, today announced in collaboration with its exclusive partner, Mammoth Labs that Tyson 2.0’s premium suite of cannabis products are now available at 16 dispensaries across the state of Washington.

“Tyson 2.0 x Mammoth Labs products will pack twice the punch for Washington cannabis consumers with our high THC strains and superior terpene profiles,'' said Mike Tyson, chief brand officer and co-founder of Tyson 2.0. “Cannabis of this craft can truly elevate the mind and spirit. I look forward to sharing my cannabis healing journey with fans across Washington.”

Tyson 2.0 will debut in Washington across sixteen dispensaries including Cannabis & Glass, Herbery, Zips, The FireHouse and The Station locations starting today. Through its production partnership with Washington-based Mammoth Labs, Tyson 2.0 premium products offered will include eighths (3.5g) jars of flower in Desert Toad, Southern Toad, Tiger Mintz and Dynamite Cookie; and exclusive concentrates: diamonds and sauce in Viper Cookies, Orange Punch, Cake Crasher; and badder in Southern Toad.

"Thrilled to partner with the legend, Mike Tyson and the Tyson 2.0 team to bring long-awaited Tyson 2.0 products into the Washington market,” said Connor Jackson, director of operations for Mammoth Labs. “We look forward to further strengthening our relationship with the Tyson 2.0 team as we roll-out products across sixteen dispensaries across Washington and anticipate exciting things to come.”

“We are proud to partner with Mammoth Labs and their team of extraction experts, a company that shares our commitment in delivering high-quality, premium cannabis products known for their efficacy and wellness benefits,” said Adam Wilks, CEO of Tyson 2.0. “Washington is a key market for Tyson 2.0 and we look forward to meeting consumer demand in the state as we continue to ramp up our nationwide expansion plans and launch exciting new products."

LITTLETON, Colo., June 2, 2022 /PRNewswire/ -- PRESS RELEASE -- Florida has fully adopted CanPay, the largest legitimate payment network for cannabis merchants and consumers. The platform is now accepted at 95% of the state's medical marijuana treatment centers (MMTCs). Nearly 100% of Florida's medical cannabis patients can use CanPay to pay for their cannabis purchases.

CanPay provides an easy-to-use app that allows consumers to pay for purchases at cannabis retailers with a simple debit from their checking account using the Automated Clearing House (ACH) network. Merchants with a compliant bank account at a CanPay-approved financial institution may join the CanPay network quickly and easily.

"We're thrilled to be able to offer all of Florida's cannabis consumers fast, free and safer-than-cash transactions with CanPay," said Dustin Eide, CEO of CanPay. "As one of the largest cannabis markets in the country, it's always been a priority for us to offer our service to its more than 700,000 qualified patients."

DENVER, June 2, 2022 /CNW/ - PRESS RELEASE - Schwazze, a vertically integrated, multi-state operating cannabis company with assets in Colorado and New Mexico, announces the grand opening of its adult-use cannaboutique, Emerald Fields, formally known as Urban Health & Wellness Inc. (Urban Wellness) located in the Highlands neighborhood of Denver, Colo. Emerald Fields provides a boutique cannabis shopping experience, with additional locations in Manitou Springs and Cherry Creek.

Schwazze kicks off the grand opening celebration on Saturday, June 4, 2022 at 10 a.m., with additional events occurring at various Schwazze-owned retailers throughout the month of June. The celebration will feature swag bags for the first 50 shoppers, donuts & coffee, games, a lunchtime taco food truck, social media scavenger hunt, and representatives from various prominent cannabis brands such as: O.Pen, Wyld, Ripple, Stratos and Green Dot. In addition, Emerald Fields Highlands will offer all-weekend, in-store discounts including 25% off all new products and $10.99 eighths of flower. Shoppers also receive a house pre-roll for $1 with a minimum, pre-tax purchase of $60.

"Our team is delighted to open the Emerald Fields Highlands cannaboutique, and to introduce customers to a distinctly different, enjoyable way of shopping," said Collin Lodge, Vice President - Retail for Schwazze. "Our Emerald Fields Cannaboutiques offer an incredible selection of products, great service, and an educated and engaged staff that make it easy for shoppers to find what they're looking for. We're thrilled to become a part of The Highlands community and look forward to introducing everyone to the Emerald Fields boutique cannabis shopping experience."

The dispensary, located at 2675 W. 38th Ave. Denver, CO, plans to undergo remodeling this summer following the acquisition of Urban Health & Wellness Inc., by Schwazze in May 2022. The acquisition and rebrand under the Emerald Fields name are part of an aggressive expansion in Colorado by Schwazze, which has grown the total number of Colorado dispensaries to 23 along with four cultivation facilities.

Mississippi launched the application process for patients seeking to enroll in the state’s medical cannabis program June 1, according to an ABC24 report.

Patients with physician approval, as well as cultivators, processors and testing facilities, can apply with the Mississippi Department of Health starting Wednesday, the news outlet reported. Applications also open June 1 for medical practitioners and cannabis transportation and waste disposal services.

Pre-application requirements include reading the Mississippi Medical Cannabis Act and reviewing the program’s regulations, as well as a background check and fingerprinting, ABC24 reported. More information about the application process can be found here.

Dispensaries will be licensed through the Mississippi Department of Revenue, ABC24 reported, and that application process will open in July.

The state has a 30-day turnaround for approving business license applications and a five-day timeline for approving patients, according to the news outlet.

A medical cannabis legalization bill in North Carolina that stalled in last year’s legislative session will go before the Senate Committee June 1.

Senate Bill 711, called the Compassionate Care Act—sponsored by State Sen. Paul Lowe (D) and backed by Sens. Bill Rabon (R) and Michael Lee (R)—would establish a “regulatory framework to allow doctors to recommend medical cannabis to patients with conditions including cancer, HIV/AIDS, post-traumatic stress disorder (PTSD), epilepsy, Crohn’s disease and sickle cell anemia,” Cannabis Business Times previously reported.

The measure would also allow patients in hospice care to have access to medical cannabis, CBT reported.

S.B. 711 was initially introduced in April 2021 and passed the Senate Judiciary Committee in July 2021 and again in August. It also cleared the Senate Finance Committee and Senate Health Care Committee last summer before lawmakers decided in September 2021 topostpone the full Senate vote until this year, CBT reported.

If the measure passes the committee vote Wednesday, it could get a floor vote this week.

A California federal appeals court ruled last month that delta-8 THC is legal under the 2018 Farm Bill.

Is this much-needed clarity to help the industry make sense of federal policy governing the compound, which many have argued is legal since it is derived from federally legal hemp?

Shawn Hauser, partner at Vicente Sederberg and co-chair of the firm’s Hemp and Cannabinoids Department, and Jason Evans, co-founder and co-owner of Tweedle Farms, a cannabinoid hemp farm in Jewell, Ore., said it will likely be business as usual after the ruling.

The opinion from the 9th Circuit Court of Appeals stems from a trademark dispute brought by AK Futures, which manufactures vaping and e-cigarette products, according to a Forbes report.

In its lawsuit, the company alleged that Los Angeles-based Boyd Street Distro sold counterfeit versions of AK’s delta-8 THC products, the news outlet reported. In its defense, Boyd Street claimed that AK’s trademark infringement allegations were invalid because delta-8 remains illegal under federal law.

Between benchmarks that encompass cultivation and personnel management, Southern Oregon hemp and cannabis grower and breeder East Fork Cultivars prioritizes environmental, social and corporate governance (ESG), says co-owner and CEO Mason Walker.

“We’re a very human-centric organization—pretty small—25 employees, independently owned,” Walker says of the governance piece, or “G,” in the common ESG acronym. “We've long really valued having what we think is a fairly empowering governance structure—high starting wage, living wage, health benefits, fairly autonomous positions where people can really structure their day and be empowered, and a lot of community engagements, as well ….”

When it comes to sustainable growing and environmental preservation at East Fork, Walker shares that it extends from outdoors on the 33-acre farm, where hemp and cannabis plants grow to maturity, to the business’ indoor nursery and drying, curing and storage spaces, and its tent breeding area.

Walker says of the drying, curing and storage space: “We’ve invested pretty heavily in spray-foam insulation in these large metal barns that we have, and we have highly efficient, mini-split heating and cooling elements in those climate-controlled spaces. One nice thing is that in addition to reducing our energy use, it also makes a tighter control in climate, so it improves quality of our flower, as well. So, it's both a boost in quality at the same time as the lowered energy use.”

Below, read some of the ways East Fork team sources and amends its soil, saves on power, avoids nutrient runoff that could harm nearby salmon and more.

Editor’s note: Mason Walker will speak at Cannabis Conference at the Paris Las Vegas Hotel & Casino from 4:30 p.m. to 5:30 p.m. PT on Tuesday, Aug. 23 on the panel, “Innovative And Regenerative Growing Techniques,” alongside Aster Farms CEO Julia Jacobson. In the session, growers will discuss alternative cultivation methods that they employ to differentiate their operations competitively and help preserve the planet. Visit www.CannabisConference.com for more information and to register.

While there’s no sign that fewer Californians are using cannabis, taxable sales hit a seven-quarter low during the first three months of 2022.

California still remains the largest legal cannabis market in the world, but its footprint shrunk to roughly $1.17 billion in adult-use taxable sales in the first quarter of 2022, according to data released last week from the state’s Department of Tax and Fee Administration (CDTFA).

That $1.17-billion figure represents a 9.9% decrease from the previous quarter and an 18.4% decrease from the second quarter of 2021, when adult-use taxable sales peaked at $1.43 billion.

In California, taxable sales include cannabis products (such as a grinder) and other retail sales of tangible personal property (such as a T-shirt) on top of the actual cannabis sold by adult-use retailers.

The recent sales dip comes as those participating in the legal market continue to have one hand tied behind their backs by a bevy of issues that have kept the industry from performing at its full potential.

RELATED: California Growers Remain Optimistic Amid Encroaching Market Obstacles

A recent poll has revealed that more than half of Missouri voters support adult-use cannabis legalization as activists work to place an adult-use measure on the state’s 2022 ballot.

The poll, conducted by SurveyUSA, surveyed 1,782 registered voters between May 11 and May 15, according to a Riverfront Times report, and asked: “Should the use of marijuana for recreational use remain against the law in Missouri? Or be legalized?”

Sixty-two percent of respondents said adult-use cannabis should be legalized, the news outlet reported; 71% of those in favor are ages 18 to 49, while 59% are ages 50 to 64.

Only 46% of respondents over the age of 65 said they support legalization, according to the Riverfront Times, but only 35% of that demographic said that adult-use cannabis should remain illegal; 18% answered that they were undecided.

Forty-nine percent of those in favor of legalization were Republicans, while 79% were Democrats and 66% were Independents, the Riverfront Times reported.

Partnership represents Verano’s largest national fundraising campaign to date supporting cannabis criminal justice reformIn addition to its initial $50,000 contribution to Mission Green, beginning June 3, 2022, Verano will match up to $13,000 in customer and patient-generated donations on the first Friday of each month Fundraising campaign spans company’s nearly 100 dispensaries across 13 states in honor of the 13 years that Weldon Angelos, founder of The Weldon Project and Mission Green, served in prison for cannabis-related charges

CHICAGO, June 1, 2022 – PRESS RELEASE – Verano Holdings Corp., a leading multistate cannabis company, announced the launch of an exclusive partnership in support of The Weldon Project’s Mission Green, the nonprofit organization’s initiative that promotes clemency for cannabis-related offenses. Through this partnership, Verano will initiate a nationwide fundraising campaign on June 3 that will remain active throughout 2022, available exclusively at the company’s retail locations.

Founded by cannabis advocate Weldon Angelos, who served 13 years of a 55-year prison sentence for selling less than $1,000 worth of cannabis before being granted clemency in 2016, Mission Green creates pathways for expungement and pardons for individuals convicted of cannabis-related offenses at the state, local and federal levels. Mission Green also provides legal assistance, re-entry programs and additional support services for formerly incarcerated individuals without access to legal counsel.

As one of the nation’s largest multistate cannabis companies, Verano has supported cannabis expungement and advocacy programs since its foundation in 2014. The company’s exclusive partnership with Mission Green will mobilize employees, patients, adult-use customers and cannabis reform advocates to support the organization’s ongoing cannabis social justice initiatives.

In addition to its initial $50,000 donation to Mission Green, Verano will also leverage its extensive retail operations across nearly 100 dispensaries in 13 states to engage and educate dispensary visitors on Mission Green and provide guests with donation and petition information. On the first Friday of each month, Verano will match up to $13,000 in customer donations that will be facilitated exclusively at the company’s flagship Zen Leaf and MÜV dispensaries, and additional retail locations it operates across its national footprint.

“As one of the largest multistate cannabis operators in the U.S., we’re proud to partner with Weldon Angelos and the Mission Green team and use our scale to amplify our support for cannabis clemency and continue the fight to repeal the harmful, outdated cannabis laws that have negatively impacted countless communities and individuals for generations,” Verano founder and CEO George Archos said. “The important work the Mission Green team facilitates in support of cannabis clemency initiatives and advocacy across the political spectrum is essential as we seek to right historical wrongs and create positive, meaningful changes in our society, with the ultimate goal of ending cannabis prohibition.”

CALGARY, Alberta, June 1, 2022, - PRESS RELEASE - High Tide Inc., a retail-focused cannabis company with bricks-and-mortar as well as global e-commerce assets, is pleased to announce that further to its press release dated March 30, 2022, the company has completed its acquisition of 100% of the equity interest of Livonit Foods Inc. operating as Bud Heaven, which operates two retail cannabis stores in Ontario for CAD$2.8 Million.

The stores are located at 77 Manitoba Street and 125 Muskoka Road Highway 118 West in Bracebridge. The Manitoba Street store is located in the heart of downtown Bracebridge, offering a wide variety of shops and restaurants and serving as a hub for tourist traffic. The Muskoka Road Highway 118 West store is in a retail plaza anchored by a national discount grocery and located adjacent to a provincial liquor store. The stores are the only retail cannabis stores currently operational in Bracebridge.