2019 Cannabis Business Award's Publication of the Year |
DOJ plans to reschedule marijuana as a lower-risk drug Reported by CNN
The Biden administration will move Tuesday to reclassify marijuana as a lower-risk substance, a person familiar with the plans told CNN, a historic move that acknowledges the medical benefits of the long-criminalized drug and carries broad implications for cannabis-related research and the industry at large.
The US Department of Justice is expected to recommend that marijuana be rescheduled as a Schedule III controlled substance, a classification shared by prescription drugs such as ketamine and Tylenol with codeine.
“The DOJ continues to work on this rule. We have no further comment at this time,” an administration official said Tuesday. The move was first reported Tuesday by the Associated Press.
Attorney General Merrick Garland plans to submit a draft rule to the White House Office of Management and Budget as soon as Tuesday, according to a source familiar. The standard rulemaking process is lengthy, is subject to a public comment period, and could take months to complete.
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FMCPG HAS BEEN SERVING AND REPRESENTING THE CANNABIS PHYSICIAN COMMUNITY
SINCE 2020 |
REGISTER FOR NEXT MEETING
WEDNESDAY, MAY 1, 2024 AT 6:30PM THE
"FLORIDA MEDICAL CANNABIS PHYSICIAN GROUP" (FMCPG)
FOR ALL
"MEDICAL MARIJUANA DOCTORS" AND "MMTC DIRECTORS ONLY " TOPICS TO BE DISCUSSED PLANNING OF OUR "2024/2025 LEGISLATIVE PRIORITIES" DISCUSSION TOPICS: ADULT USE ON THE BALLOT IN NOVEMBER HOW WILL THIS AFFECT YOUR PRACTICE AND PATIENTS? THE HEMP BILL: WHAT'S NEW QUESTIONS FROM PHYSICIANS UPDATE ON RFE'S HOW TO BEST ANSWER YOUR PATIENT QUESTIONS MEMBERS OF THE FLORIDA MEDICAL CANNABIS PHYSICIANS GROUP EMAIL CHARLES FELIX AT charles@cannabisnewsflorida.com FOR THE MEMBER DISCOUNT CODE FOR THIS YEARS FLORIDA MEDICAL CANNABIS CONFERENCE & EXHIBITION |
MEDICAL CANNABIS PHYSICIAN
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NEWS FROM THE PAST WEEK RELATING TO THE BUSINESS OF
MMTC'S IN FLORIDA
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SUNBURN CANNABIS - TAMPA LOCATION 2409 S MacDill Ave
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THE CANNABIST COMPANY AND AIRO BRANDS CONTINUE SUCCESSFUL PARTNERSHIP WITH EXPANSION INTO PENNSYLVANIA AND VIRGINIA
Collaboration Now Reaches Four States including Delaware and West Virginia
NEW YORK–Apr. 26, 2024– The Cannabist Company Holdings Inc. (Cboe CA: CBST) (OTCQX: CBSTF) (FSE: 3LP) (“The Cannabist Company” or the “Company”), one of the largest and most experienced cultivators, manufacturers, and retailers of cannabis products in the U.S., announced today its latest expansion with Airo Brands, an industry-leading, multi-state cannabis company focused on proprietary, cutting-edge vapor delivery platforms and flavorful, high quality oils, into Virginia and Pennsylvania.
Building on the success of this collaboration in Delaware and West Virginia, The Cannabist Company launched Airo’s unparalleled vapor systems, including the AiroPro and AiroSport batteries, and AiroX All-In-One, as well as its unique AiroPod cartridge oil formulations at its Cannabist and gLeaf dispensaries in Virginia as well as its Columbia Care locations in Pennsylvania. Airo is also available through the Company’s wholesale channels in both markets. Since the collaboration began last year, Airo’s vapes and cartridges have quickly become top-selling products in Delaware and West Virginia.
“Our ongoing partnership with Richard and the Airo team has been a tremendous success, allowing us to provide reliable and exceptional products to our patients and customers looking for a smooth and enjoyable vaping experience,” said Volley Hayhurst, VP of Operations, The Cannabist Company. “Expanding into Virginia and Pennsylvania underscores our commitment to providing the highest quality products and demonstrates the precision and expertise of The Cannabist Company to create consistent experiences across multiple markets, which is critical for developing brand equity.”
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RED WHITE & BLOOM REPORTS ITS FISCAL 2023 ANNUAL RESULTS AND RECORDS AN INCREASE IN ADJUSTED EBITDA AND GROSS PROFIT FOR A SECOND CONSECUTIVE FISCAL YEAR
Annual revenue for fiscal 2023 increases to $88.3 million
Gross profit for fiscal 2023 of $29.5 million, a $6.8 million, or 30%, increase from $22.7 million for fiscal 20221 Adjusted EBITDA2 for fiscal 2023 increases to $5.5 million
TORONTO, April 29, 2024 — Red White & Bloom Brands Inc. (CSE: RWB) (“RWB” or the “Company”) is pleased to report it has filed its Consolidated Audited Financial Statements (“the Financial Statements”), Management’s Discussion and Analysis (“MD&A”), and associated certifications.
The Company will hold its Annual General Meeting (“AGM”) on Friday, June 14th, 2024. Further communication will follow for the benefit of shareholders including details on how to access the AGM both in-person and virtually.
As of the date of this release, the Company expects to complete its requisite filings and disclosures for the first quarter of 2024 by the prescribed date of May 30, 2024.
Management Commentary
Colby De Zen, President, and Director, stated, “RWB continued to effect value-added transformations of its business during fiscal 2023. We focused on higher margin revenue opportunities and sunsetting of low margin products, as can be seen in our results, which has led to a 30% increase in gross margin with revenue only increasing marginally over the same period. Moving into fiscal 2024, the Company has targeted several near-term priorities, including a fulsome restructuring of its current financing arrangements, resourcing its key business segments, both in Canada and across incumbent and prospective US states, providing a path for our company and its valued team members to achieve profitable growth and sustainable liquidity. In addition, in fiscal 2024, post our fiscal 2023 close, RWB successfully completed the acquisition of the former Aleafia group of companies, providing RWB with a North American and international cannabis footprint in advance of potential US federal legalization. The Company has also positioned itself to capitalize on market opportunities in jurisdictions, such as Florida and its emerging legalization movement, where our prior strategic investments will provide the ability to establish a stronghold. RWB management remains focused on its commitment to further streamline operations, expand and leverage its brand equity through its asset light licensing arrangements, rationalize discretionary expenditures, and focus on procurement initiatives that will drive profitability.”
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PLANET 13 ANNOUNCES OMMU APPROVAL FOR PROPOSED SALE OF PLANET 13 FLORIDA AND ACQUISITION OF VIDACANN
April 29, 2024 / Planet 13 Holdings Inc. (CSE:PLTH)(OTCQX:PLNH) (“Planet 13” or the “Company“), a leading vertically-integrated multi-state cannabis company, today announced it has received approval for the proposed sale of Planet 13 Florida, Inc. (“Planet 13 Florida”), and approval for the proposed acquisition of VidaCann, LLC (“VidaCann”), each of which owns a Medical Marijuana Treatment Center License, from the Florida Office of Medical Marijuana Use (“OMMU”).
The approvals from the OMMU for the sale of Planet 13 Florida and the acquisition of VidaCann (together, the “Transactions”) are the final regulatory approvals required for Planet 13 to close the Transactions. The Company has extended the end date of the VidaCann acquisition to May 31, 2024 and currently expects to close the Transactions in May 2024.
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PLANET 13 LAUNCHES NEW MEDIZIN BRANDED TOPICALS – INTRODUCING MEDIZIN REST, RECOVERY AND RELIEF
LAS VEGAS, NV / ACCESSWIRE / April 30, 2024 / Planet 13 Holdings Inc. (CSE:PLTH)(OTCQX:PLNH) (“Planet 13” or the “Company“), a leading vertically-integrated multi-state cannabis company, has unveiled its latest innovation with the launch of its new CBD hemp and cannabis derived topical line under the esteemed MEDIZIN brand. These products will be available in store, reach customers through wholesale channels and the hemp derived products will be available online, marking an exciting expansion of Planet 13’s product offerings. The cannabis derived MEDIZIN topicals will be manufactured at the Planet 13 SuperStore in the state-of-the-art production facility where visitors can watch products being made, further enhancing the immersive customer experience that Planet 13 is renowned for.
“We’ve experienced great success with our topical offerings both in-store and online. Introducing a MEDIZIN branded topical line perfectly aligns with our strategic goals in Nevada, allowing us to leverage our production facility to expand our brand presence and boost wholesale revenue,” explained Bob Groesbeck, Co-CEO of Planet 13. “We’re thrilled to secure the Nevada rights to Ovation Science’s patented technology and to harness the strength of our beloved MEDIZIN brand to dominate a new product category. This endeavor marks a significant stride towards optimizing our production facility, driving revenue growth, and enhancing our gross margins.”
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Track the Flow of Capital by Industry Sector |
View this week's Viridian Sector Tracker to See the Analysis of Capital Raise and M&A Transactions for Each of Our 12 Cannabis Industry Sub-Sectors
About Viridian Capital Advisors, LLC
Launched in 2014, Viridian Capital Advisors was one of the first and now leading, corporate finance, advisory and M&A practices in the legal Cannabis/CBD industries, and now in the Psychedelics sector. We represent companies, investors, lenders, buyers and sellers. Our advisory practice is meant to help “institutionalize” our clients before they go to market for capital or M&A - by helping to build a professional Board of Directors, sophisticated financial models and valuation analyses, exit strategies and strategic advisory services. Our investment banking practice raises capital and executes M&A transactions through our New York City based broker-dealer, Bradley Woods & Co. Ltd.
Viridian is widely recognized as the industry leader in research and capital markets data/market intelligence through the Viridian Deal Tracker. Launched in January 2015, the Viridian Deal Tracker is a proprietary data service that monitors and analyzes investment, M&A activity and capital markets trends in the Cannabis, Hemp and Psychedelics industries. We've tracked and analyzed more than 6,500 transactions totaling more than $70 billion in transaction value. We know where equity investors invest, where lenders lend and where acquirers acquire. The Deal Tracker is received and read every day by thousands of leading industry players on a global basis, becoming a trusted and valuable source for companies, investors, lenders and sellers/acquirers to make informed capital allocation decisions.
Marijuana remains illegal under federal law. The federal government does not recognize marijuana to have any medicinal value. Marijuana cultivation, possession, consumption, sales, and distribution are illegal under federal laws and also certain state laws. Investors in cannabis may be subject to law enforcement actions. Please note that there are differences in marijuana laws from one state to another. Furthermore there are substantial risks associated with investing in cannabis companies, including, without limitation, changes in laws, rules, and regulations, risks associated with the economy, capital markets, and a company’s ability to execute on its business plan.
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NATIONAL AND INTERNATIONAL NEWS |
STATEMENT FROM MARIMED CEO AND PRESIDENT JON LEVINE REGARDING THE DRUG ENFORCEMENT ADMINISTRATION’S DECISION TO RECATEGORIZE CANNABIS TO SCHEDULE III
NORWOOD, Mass., April 30, 2024 — The following is a statement from Jon Levine, CEO and President of leading multi-state cannabis operator, MariMed Inc. (“MariMed”) (CSE: MRMD) (OTCQX: MRMD).
“The impending announcement of the DEA’s decision to recategorize cannabis from Schedule I to Schedule III under the Controlled Substances Act is historic. The positive impact this will have cannot be overstated. Our industry, the millions of consumers and patients we serve, and the individuals and communities that have been ravaged by the War on Drugs, all will see positive benefits. So too will those investors who have supported this industry for many years, patiently waiting for a major federal catalyst such as this.
As a company whose mission is to improve the lives of people every day through cannabis, we are thrilled to see this decision! Under Schedule III, the many benefits from cannabis will be significantly easier to research, opening the door to further product innovation and credibility for the plant’s medicinal value. It’s a monumental step forward in mainstreaming cannabis and will confirm something our company has known for over a decade – that our industry produces products that are safe and effective in treating a wide range of health and wellness issues. Consumers are the biggest winners here.
Schedule III is a major positive for cannabis businesses as well. Most notably, Section 280E of the Internal Revenue Code will be eliminated, something our company has been proud to fight for over the years. According to various reports, the burden of 280E has resulted in cannabis companies paying $1.8 billion more in federal taxes compared to non-cannabis businesses. At MariMed, we anticipate the elimination of 280E will result in millions of dollars in tax savings annually, further strengthening our position as one of the most financially sound cannabis operators in the industry. Those extra funds will help contribute to the growth strategies we are already implementing, including acquisitions and consumer-driven product innovation.
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RODEDAWG INTL. IND, INC. (OTC: RWGI) ANNOUNCES 204% GAINS IN REVENUES ON QUARTERLY DISCLOSURE ENDING 3/31/24
COSTA MESA, Calif., April 29, 2024 — Rodedawg International Industries, Inc. (OTC: RWGI) proudly announces the Company has reported over a 200% gain in revenue for the recent period starting on January 1st, 2024, and ending March 31st, 2024.
Chris Swartz, CEO, states, “We are proud to announce that our team has achieved better-than-expected quarterly revenue gains. As we have stated in previous press releases, we firmly believe the company is now in its growth curve. To continue our growth plan, we have hired an experienced management team, expanded our asset base of licenses, and expanded our manufacturing capability. We believe these expansions in our critical growth areas place Rodedawg in the predictable position to continue the “hockey stick” growth.”
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TREEZ INTRODUCES TREEZ ECOMMERCE, NEW RETAILER-FIRST SOLUTION FOR CANNABIS OPERATORS
SAN FRANCISCO, April 25, 2024 — Treez, the leading enterprise commerce technology platform that helps cannabis retailers become profitable, today launches its new ecommerce product available exclusively for Treez Point of Sale (POS) customers. The new offering, Treez Ecommerce, is the most direct, streamlined, and powerful ecommerce solution available on the market today. This enables cannabis retailers to create customized, high-performing online storefronts without the need for third-party developers or agencies while integrating seamlessly with the SellTreez POS system.
With the launch of this native ecommerce solution, Treez now provides a full suite of in-house retail technology solutions – including point of sale, retail analytics, and cashless payments – catered to the modern dispensary.
“Treez Ecommerce is crafted to align with the unique business model of cannabis retailers,” said Suresh Khanna, President and COO at Treez. “Retailers are looking for more than just an all-in-one solution. They want best-of-breed technology and insights along with great service. Staying true to that ‘retailer-first’ motto, Treez Ecommerce provides retailers with full control over their ecommerce site – from the site’s look and feel to the management of customer data and streamlined ordering – all within an enterprise platform.”
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TERRASCEND LAUNCHES LEGEND MINI PRE-ROLL PACKS IN NEW JERSEY
TORONTO, April 24, 2024 — TerrAscend Corp. (“TerrAscend” or the “Company”) (TSX: TSND) (OTCQX: TSNDF), a leading North American cannabis company, today announced that Legend, a cannabis brand that provides consumers with quality flower at everyday prices, will launch its first mini pre-roll pack. Beginning April 26, these bundles will be available exclusively at Apothecarium dispensaries in New Jersey while landing across the rest of the New Jersey market starting April 29.
Adult-use consumers and patients searching for an alternative to the traditional pre-roll can embark on their next unforgettable cannabis adventure with any one of the brand’s convenient packs, including Energized Legend (Sativa), Grounded Legend (Hybrid) or Zen Legend (Indica). Each set contains eight .375g pre-rolls with blends combining two to three strains, bringing out richer and more distinct terpene profiles.
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GOOD SUPPLY CANNABIS INTRODUCES NEW SIGNATURE ‘BUD SQUAD’ PRODUCTS
TORONTO, April 24, 2024 — Tilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY), a leading global cannabis-lifestyle and consumer packaged goods company today announced the release of new cannabis flower products added to the Good Supply® ‘Bud Squad’. Good Supply’s signature Bud Squad product campaign was created to help consumers understand the true sensory experiences and unique characteristics of the brand’s popular range of strains in addition to its flavour profiles.
Featuring timeless, hard-hitting whole flower produced for Good Supply’s new and existing fans, the latest additions to the Bud Squad include:
Melon Dream: Originating from the Muskmelon OG lineage, Melon Dream is a sativa-leaning hybrid that boasts a delightful blend of sweet, fruity, and diesel flavors. Infused with dominant terpenes including caryophyllene, humulene, and limonene, it’s available in various sizes including 3.5g and 28g flower, as well as 14 x 0.5g pre-rolls for convenient consumption.
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VILLAGE FARMS INTERNATIONAL EXPANDS EXECUTIVE TEAM
NEWLY CREATED ROLES SUPPORT CONTINUED GLOBAL CANNABIS GROWTH
VANCOUVER, British Columbia and ORLANDO, Fla., April 24, 2024 — Village Farms International, Inc. (“Village Farms” or “the Company”) (NASDAQ: VFF) today announced that it is expanding its executive team with the following new roles:
Chief Operating Officer – Ann Gillin Lefever; President, Global Medical Cannabis – Paul Furfaro; and, General Counsel, Global Cannabis – John Harloe.
“We have expanded our global cannabis business considerably over the last several years with strong, profitable growth in Canada while adding four medicinal export markets, with more to come. In the Netherlands, we are building out our initial facility as the only North American company to participate in the first major recreational cannabis market in Europe. The creation of these new positions reflects both our proven business model and the significant potential of our cannabis opportunity going forward. It is a testament to the strength of our organization that we have identified the right individuals to take on these critical roles from within our own ranks,” said Michael DeGiglio, President and Chief Executive Officer, Village Farms.
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BELOW ARE THE LINKS TO THE DIRECTORY OF FLORIDA CANNABIS DOCTORS AND
DISPENSARIES IN THE STATE OF FLORIDA |
QUALIFIED PATIENTS OVER 880,000 AND 633 DISPENSING LOCATIONS
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LATEST OMMU REPORTS FROM OFFICE OF MEDICAL MARIJUANA USE IN THE STATE OF FLORIDA Highlights from
APRIL 26, 2024 Report
BY THE NUMBERS Qualified Patients: (Active ID Card):
APR 26 2024- 880,240 APR 19 2024- 879,763 APR 12 2024- 878,724 APR 05 2024- 877,941 MAR 29 2024- 877,954 MAR 22 2024- 877,178 Pattients Last Week: 477
Qualified Ordering Physicians: 2,385
New Doctors Last Week: - 49 Reporting Period: APR 19 to APR 24 2024 Amount of Medical Marijuana Dispensed - (mgs THC) 427,713,922
Amount of Low-THC Cannabis Dispensed - (mgs CBD) 4,766,758
Amount of Marijuana in a From for Smoking (oz) 135,658.270 Approved Dispensing Locations: 633 ADD LAST WEEK : 1
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MEMBERS OF THE FLORIDA MEDICAL CANNABIS PHYSICIANS GROUP EMAIL CHARLES FELIX AT charles@cannabisnewsflorida.com
FOR THE MEMBER DISCOUNT CODE FOR THIS YEARS FLORIDA MEDICAL CANNABIS CONFERENCE & EXHIBITION |
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