Aurora Cannabis plans U.S. listing
Canadian company Aurora Cannabis, currently listed on the Toronto Stock Exchange, is planning to list its shares on a major U.S. exchange next month. It’s worth noting that recreational marijuana will be legal in Canada starting October 17th. Coincidence? We think not. Pot stocks have been going crazy, and we can assume this will only add to that hysteria. Invest wisely, friends.
Insuring marijuana businesses
With a lack of banking and conflicting state and federal laws, marijuana businesses have to put up with a lot. An issue that receives less attention is that cannabis enterprises are prohibited from being fully insured. While this problem is far from being solved, more insurance companies are providing coverage for those in the industry. Get the details here.
South Africa legalizes cannabis
The Constitutional Court of South Africa just legalized recreational cannabis, going against the government’s wishes. South Africans are now permitted to use and grow marijuana for private consumption. However, public use and selling the drug remain illegal. Fun fact: Cannabis is known as “dagga” in South Africa.
No, this isn’t a fun way to describe yourself after getting high and falling asleep in the sun. The owner of a lobster restaurant in Maine has decided to sedate lobsters with cannabis before cooking them. Apparently, this makes cooking the lobsters more humane. Interesting theory.
Coca-Cola to enter the cannabis sphere
The Coca-Cola Company is reportedly interested in creating a range of CBD-infused beverages. The soft drink giant plans on teaming up with Aurora Cannabis, one of Canada’s major marijuana companies. Learn more about this venture here.
The Clean Slate Act
A group of lawmakers reached across the aisle to introduce the Clean Slate Act, which would tackle a major issue faced by people convicted of non-violent marijuana crimes. The bill would seal the records of qualifying offenders who remain crime-free one year after their completed prison sentences. Consequently, those impacted could stop being penalized by their criminal records. This criminal justice reform bill came about from a partnership between the Congressional Black Caucus and the Freedom Caucus, two groups rarely aligned on any issues. Get the details on the Clean Slate Act here.
Elon Musk and the infamous blunt
You probably already heard about this, but in case you didn’t, we’re here to tell you about Elon Musk’s recent cannabis experience. While on the very popular “Joe Rogan Experience” podcast, billionaire businessman Musk tried a puff of Rogan’s blunt. Musk exhaled extremely quickly. The internet freaked out over Musk trying marijuana, even though this took place in California, where recreational cannabis is legal. Shares of Tesla briefly took a dip. The end.
Puerto Rico’s recovering medical marijuana program
It’s been nearly one year since Hurricane Maria devastated Puerto Rico, killing thousands of people and causing billions of dollars in damage. The storm also destroyed medical cannabis facilities. While the rebuilding process for marijuana businesses has not been easy, these enterprises are now doing quite well. Learn more about these resilient businesses here.
Coral Reefer cannabis
Musician/businessman/dad rock idol Jimmy Buffett has decided to license the “Coral Reefer” brand to a medical marijuana company. If you didn’t know (we didn’t know), the Coral Reefer Band is the name of Buffett’s touring and recording band. Soon, you’ll be able to buy Coral Reefer edibles and vape pens.
Dispensary hero vs robbers
When four robbers ran into a dispensary in Canada, one courageous employee decided to stand up to them. This brave soul used a bong as a weapon. It worked. Superheroes are real, and they come in the form of bong-brandishing knights.
Safe space for stoned students
If you’re a regular user of cannabis, you’ve probably experienced the feeling of being way, way too high. If you’re a student at the University of Calgary in Alberta, you now have a place to go. The university has opened its Post-Alcohol Support Space, originally intended to keep drunk students safe, to those who are too stoned. Smart move.
Medical marijuana problems in Malaysia
Muhammad Lukman Bin Mohamad gave free cannabis oil to patients in need who could not afford the treatment, but all forms of marijuana are strictly forbidden in Malaysia. This is why a Malaysian court sentenced Lukman to death last week. Yes, a death sentence for giving medical marijuana to those in need. Terrifying.
Cronos Group Inc., a marijuana company, is partnering with Ginkgo Bioworks Inc., a biotech firm, to genetically engineer the active compounds found in cannabis. The companies will work together to extract the DNA from various cannabinoids and produce them in a lab. Learn more about this endeavor here.
What do baby boomers and young adults have in common?
If you guessed an affinity for cannabis, you’d be correct. A recent study found that marijuana use among those aged 50 to 64 has increased. According to another study, cannabis use among young adults in college is at the highest level in the past 30 years. Different generations, same interests.
Merriam-Webster embraces marijuana
“Medical marijuana” and “CBD” are new additions to the Merriam-Webster online dictionary. Well done, dictionary editors.
Mormons vs marijuana
In a fairly unsurprising move, the Mormon Church has officially come out against Proposition 2, Utah’s medicinal cannabis initiative. Church leaders are voicing concerns that medical marijuana would negatively impact the health and safety of Utah communities. 60 percent of Utahans are Mormon, so the church’s statement could majorly influence the outcome of Proposition 2. Voters will decide on this measure November 6th.
The White House takes on legal cannabis
If you think Attorney General Jeff Sessions is the only Trump associate actively working against the marijuana industry, unfortunately, you’re wrong. The White House has formed the Marijuana Policy Coordination Committee, which recently instructed 14 federal agencies and the Drug Enforcement Administration to submit data that casts marijuana in a negative light. Get the details on this disappointing development here.
Pesticide problems at California’s illegal pot farms
There have been major issues with pesticide use at illegal marijuana farms for years. In California, this issue seems to be getting worse. Nine out of every 10 unlicensed cannabis farms raided in California this year contained traces of powerful pesticides that are detrimental to the environment. This percentage is up from previous years. Not good.
THC lingers in breast milk
Breastfeeding moms, listen up. A recently published study discovered that cannabis chemicals, including THC, were measurable in mothers’ breast milk up to six days after they consumed marijuana. The jury is still out on whether or not these low levels of chemicals affect breastfeeding infants. Learn more about this study here.
Illinois to allow medical cannabis as opioid alternative
Illinois Governor Bruce Rauner signed the Alternative to Opioids Act into law this week. This law allows patients prescribed opioid medications to select medical marijuana instead. This seems like a smart, practical way to fight the opioid epidemic. Well done.
California bill to erase cannabis convictions passes
When California voters decided to legalize recreational marijuana, they also got rid of various cannabis-related crimes. While this applied to previous marijuana convictions, no guidelines were put in place to help eligible offenders get their convictions erased or reduced. Because of this, California lawmakers just passed a bill that would expunge or reduce tens of thousands of marijuana-related criminal convictions. Now, the bill awaits Governor Jerry Brown’s signature. If passed, the California Department of Justice will identify eligible cases and send them to the relevant district attorney’s office. Get more details here.
NFL player slams league’s marijuana policy
David Irving, defensive end for the Dallas Cowboys, recently shared his views on the NFL’s marijuana policy via an Instagram post. Irving trashed the league’s no-cannabis rules and stated that he was medicated, presumably with marijuana, in every NFL game he had played in. No “lazy stoner” stereotypes here.
Elon Musk on his 420 tweet
Business magnate Elon Musk made headlines (what’s new?) when he tweeted about taking Tesla private at $420 per share. This price led many to believe Musk was referring to 4/20, the cannabis culture term. Musk insisted that this is not true and that he was not “on weed” while tweeting. Well then.
DEA calls for more cannabis
The Drug Enforcement Agency is aiming to increase the amount of marijuana grown for research purposes. Additionally, in an effort to fight the opioid epidemic, the agency is reducing the quota for the production of opioid medications in the U.S. Learn more about this plan here.
Legal marijuana projections
RBC Capital Markets, an investment bank, predicts that legal cannabis sales could reach $47 billion annually within a decade. So does this mean we should invest all of our money in marijuana stocks?
California’s cannabis tax problems
When Californians voted to legalize recreational marijuana, many state officials were thrilled at the prospect of all the tax revenue that would roll in. It was estimated that the tax takings from the cannabis industry would total $185 million for the first six months of 2018. The actual total is $82 million. If you’re wondering about the reason for this massive discrepancy, you’re not the only one. Some are blaming state regulations and the black market. Get the details about this shortfall here.
The Stoner Cleanup Initiative
Last month, a Reddit user posted a picture of a bag full of trash with the caption, “Cleaned up the smoke spot #StonerCleanUpInitiative.” This post gained traction in cannabis-loving communities, and now hundreds of tokers are participating in the challenge. It’s pretty straightforward. Simply go to your favorite smoke spot, and do a little picking up while you’re there. Finally, a movement we can all get behind.
Canopy and Constellation team up
Constellation Brands, an alcohol industry giant, made headlines last year when it invested $191 million in Canopy Growth Corp., a Canadian cannabis company. Constellation seems to be confident in this commitment to the marijuana industry. In fact, the company recently announced an additional $4 billion investment in Canopy. Learn more about this power couple here.
North Dakota to vote on recreational marijuana
Marijuana advocates in North Dakota gathered enough signatures to place a recreational cannabis proposal on November’s ballot. The initiative would set no limits on the amount of marijuana residents could grow and possess. Bold move, North Dakota.
Cannabis jobs skyrocket in Canada
Are you looking for a job in the legal marijuana industry? If so, you may want to head to Canada, where cannabis-related job postings are growing quickly. Remember, legalization is just around the corner for our Canadian friends.