DEA Marijuana Rescheduling Hearing Delayed Until 2025, Agency Judge Rules
Keep up with the news bud


The Drug Enforcement Administration’s (DEA) hearing on the Biden administration’s marijuana rescheduling proposal is being delayed until 2025, Marijuana Moment has learned.

After DEA Administrator Anne Millgram signed off on over two dozen witnesses to participate in the hearing on Monday, Chief Administrative Law Judge (ALJ) John Mulrooney issued a preliminary order on Thursday signaling that the information provided on those set to testify was insufficient and requesting additional details and potential availability for a formal hearing in January or February 2025.

When the Justice Department proposed moving cannabis from Schedule I to Schedule III in March following a scientific review, advocates and stakeholders had hoped the rule would be finalized this year. And DEA did schedule the hearing for December 2—after the presidential election but before the January inauguration that will see an administrative changeup

https://www.marijuanamoment.net/dea-marijuana-rescheduling-hearing-delayed-until-2025-agency-judge-rules/

Yep I am in Ontario. and order from Naked Cannabis in BC. Mids for $49 - $69 a oz, good quality and excellent large variety, free shipping at $115 expresspost 3 day delivery. I have large Harvest in a month that will have at least 3 1/2 lbs a year pretty much done for buying weed except maybe a little Hash every now and then.
https://shopnaked.se/flower/

I have been following, I post everyday to try and inform everyone that S3 has nothing to do with commercial weed and that S3 drugs are dispensed by doctor prescription, and Trump verified in his acceptance memo, it means nothing for commercial weed and will only support the medical testing, research. Just as Trump stated in his acceptance memo.
chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.deadiversion.usdoj.gov/schedules/orangebook/c_cs_alpha.pdf

The 2 states that were first too legalize CA & CO are now recriminalized cannabis and banning the selling buying. of cannabis.
Governor Newsom announced emergency regulations to ban THC-containing hemp products and create stronger state protections to safeguard California’s children from the dangerous effects of unregulated THC.
https://www.gov.ca.gov/2024/09/06/governor-newsom-issues-regulations-to-protect-kids-from-dangerous-and-intoxicating-hemp-products/

Oregon Law Recriminalizing Simple Drug Possession Takes Effect On Sunday

Both are the product of House Bill 4002, which state lawmakers passed this year after fentanyl overdoses killed about 1,400 Oregonians in 2023, up from 280 in 2019. The bill recriminalizes possession of small amounts of drugs, while prioritizing recovery instead of jail time.
https://www.marijuanamoment.net/oregon-law-recriminalizing-simple-drug-possession-takes-effect-on-sunday/

Governor Newsom announced emergency regulations to ban THC-containing hemp products and create stronger state protections to safeguard California’s children from the dangerous effects of unregulated THC.

Governor Newsom announced emergency regulations to ban THC-containing hemp products and create stronger state protections to safeguard California’s children from the dangerous effects of unregulated THC.
Today is the end of commercial sales of cannabis (THCA-THC) from the natural cannabis plant, instead they will be supplying fake male hemp plant "products" not including dried flower too smoke.
https://www.gov.ca.gov/2024/09/06/governor-newsom-issues-regulations-to-protect-kids-from-dangerous-and-intoxicating-hemp-products/

The 2 $Billion cannabis states CA & OR are now illegal cannabis states.

Oregon Law Recriminalizing Simple Drug Possession Takes Effect On Sunday

this is the state that did billions in cannabis sales in 2 decades now illegal with new state government prohibition.

https://www.marijuanamoment.net/oregon-law-recriminalizing-simple-drug-possession-takes-effect-on-sunday/

I said the same thing here in 2016, just after patients won the legal right too grow cannabis on property, same year the stockmarket weed executives started collecting investors money and telling a tale on how rich they will make you. while these CEOs are extorting medical patients/growers with threats of arrest. Wish you listened?

RCMP went silent about massive pot bust over concern for marijuana producer’s stock price, documents reveal

There were also concerns the release of information could embarrass Health Canada and expose 'deficiencies' in new medical marijuana regulations

https://nationalpost.com/news/canada/rcmp-went-silent-about-massive-pot-bust-over-concern-for-marijuana-producers-stock-price-documents-reveal

Doomed: you need too go over the article, its the fat wallet stockmarket corporations that are behind in Taxes. I don't pay tax on my medical garden, and the three unregulated unlicensed medical dispensaries do charge tax to stay in business but... the cost is so low I still save from any LP, Oz's for $49.00 mids, as well these dispensaries sell lbs of Shake for making hash, edibles, or even your own Cannabis fruit drinks.
As for The cancer, you are 100% right.
It was proven that THC in cannabis oil attacks cancer cells while helping healthy ones from a biological prosses called Apoptosis.

Canada’s unpaid cannabis taxes soar 72% to almost CA$300 million

Your Taxes have not been paid, and have only been placed in weed executive wallets for millions in salaries.
This has been your one and only correct prosses and they have been lying too you from the beginning, doesn't matter what consumers or shareholders believe they are losing YOUR MONEY .....

https://mjbizdaily.com/canada-unpaid-cannabis-taxes-soar-to-almost-ca300-million/

Ah a dealer for me is me, member of 3 unlicensed medical Compassion Clubs that had won court rulings before legalization. I will tell you I legally grow better cannabis then any of the stockmarket weed executives without debt and about 38 cents a gram, I am a daily medical user and the huge buyers are priced out of the market at $5-$7 a gram, so this is why they all bankrupt and insolvent, you all misread weed from the beginning and hyped a product that they know nothing about cannabis and don't buy or use weed. you have been wrong about it all, even though you got out early.

Canopy Growth’s planned entry into the U.S. marijuana market has hit another hurdle – this time over the cannabis producer’s ties to its largest investor.
Fitch Ratings downgraded its credit assessment of the Ontario, Canada-based Canopy to CCC-, one of its lowest ratings.
CCC carries “substantial credit risk” such that default is a real possibility.

https://mjbizdaily.com/fitch-chops-canopy-rating-citing-cannabis-producers-constellation-link/

DEA Says ‘THCA Does Not Meet The Definition’ Of Legal Hemp As Congress Weighs Cannabinoid Recriminalization In Farm Bill

If anyone understands Decarboxylation of cannabis you would see the Governments plan, they will only allow what is defined as hemp, Male plants with less then .3 milligrams of THC in the raw plant, this means the products will not be in smokeable form, and a synthetic production

Stock exchanges not likely to budge under Schedule III

Schedule III won't make cannabis federally legal in the eyes of the stock markets.

While many things likely will change if cannabis is rescheduled from a Schedule I drug to Schedule III under the Controlled Substances Act, the stance of the top stock exchanges in the U.S. probably won’t be one of them.

Speculation has run rampant that rescheduling could open up the New York Stock Exchange and the Nasdaq marketplace to domestic cannabis companies under such a change. But at least one expert says, not so fast.

Why the where matters
Currently, most American-based cannabis companies can only trade on the Over-the-Counter, or OTC, Markets in the U.S. due to cannabis being federally illegal. As a result, they often turn to Canadian exchanges like the Canadian Securities Exchange (CSE) or the Toronto Stock Exchange (TSX).

The drawback to being listed on the OTC Markets is that many institutional investors won’t invest in OTC-listed companies. This limits the market for these stocks. Similarly, the Canadian exchanges are much smaller than the U.S. markets, which limits the financial benefits.

Slow the roll
Ride-or-die cannabis investors have been hoping to get the stocks uplisted to the NYSE or Nasdaq based on rescheduling – but that might be wishful thinking.

Neither the NYSE nor the Nasdaq would comment on whether they would open up to cannabis stocks upon rescheduling. And according to Nasdaq’s published rules and regulations for listings, many cannabis operators in the U.S. would still be tagged with federally illegal operations despite rescheduling, which would keep them ineligible for listing.

“Schedule III, even when final, will not lead the New York Stock Exchange or Nasdaq to list U.S. plant-touching companies. Those companies will continue to be violating the Controlled Substance Act,” Eric Berlin, a partner at the legal firm Dentons told Green Market Report.

“Instead of selling an illegal controlled substance illegally, they will be selling a legal controlled substance illegally. And the problem is that none (of those products) will have the required DEA registrations,” he added. “And the DEA has said that it does not intend to give any registrations or to register any party that is simultaneously violating federal law.”

Berlin noted that the exchanges probably have to power to lean on banks to clear the stocks if it wanted the listings, but the risk outweighs the reward. An updated Cole Memo would also be insufficient to give them comfort. Under former President Donald Trump, Attorney General Jeff Sessions rolled back gains by the Obama administration around cannabis. If Trump is reelected, it could happen again.

Stocks on the rise
Investors, though, seem unbothered by this pesky detail, and the price of cannabis stock shares has popped.

The AdvisorShares Pure US Cannabis ETF was selling at roughly $7.36 before the news of rescheduling broke; it popped to a 52-week high of $11.36 just after. It was lately selling at $9.21, which is still up 25% from the pre-announcement price.

Berlin believes the rising stock valuations are warranted as the tax benefits to cannabis companies will be substantial under Schedule III. However, uplisting is much further in the distance.

“I think that this is an area that they are waiting for greater congressional action,” he said. “And the fact is that I don’t think Schedule III gives them the legal path forward, quite frankly.”

And you are telling me I'm losing Benefit.
2 Oz's of Mids, for $100 no shipping cost me another $10 for a gram of Hash Free shipping not losing one bit. Not from stockmarket weed

CGC carries “substantial credit risk” such that default is a real possibility

Canopy Growth’s planned entry into the U.S. marijuana market has hit another hurdle – this time over the cannabis producer’s ties to its largest investor.Fitch Ratings downgraded its credit assessment of the Ontario, Canada-based Canopy to CCC-, one of its lowest ratings.

It’s the second time in six months that Canopy’s credit rating has come under scrutiny from Fitch.

The New York-based ratings company said it believes the strategic link between Canopy’s biggest investor, alcohol giant Constellation Brands (CBI), and the licensed cannabis producer “has materially diminished” after Canopy announced its plan to speed its entry into the U.S. THC market.

“As such, Canopy’s ratings no longer benefit from a one-notch uplift from its standalone credit profile,” Fitch said.

In a statement to MJBizDaily, a Canopy spokesperson said Constellation Brands remains vested in Canopy’s success as a major shareholder “and fully supports this strategy as the best way to position Canopy for near- and long-term success.”

The spokesperson added that Canopy is making the move to take its destiny into its own hands by fast-tracking its entry into the U.S. marijuana market and taking full ownership of its investments there.

Constellation executives touched on their commitment to Canopy and the cannabis industry in a conference call with analysts on Oct. 6.

After being asked how long Constellation is willing to “wait” for U.S. legalization and how he views the alcohol company’s stake in the cannabis producer changing, Constellation CEO William Newlands said, “I wouldn’t expect you to see the size of our investment in that change.”

Newlands admitted he “failed miserably” in predicting the pace of U.S. legalization but also said he’s “hopeful” there will soon be progress.

In its latest update, Fitch said it downgraded the long-term issuer default ratings for Canopy Growth from CCC to CCC-.

Fitch also lowered the credit rating of the senior secured term loan facility from B/RR1 to B-/RR1.

Fitch’s action comes less than a week after Canopy announced a plan to speed its entry into the American market.

Rather than waiting for the United States to legalize at the federal level, Canopy launched Canopy USA, which would purchase the three American marijuana businesses Canopy had agreed to buy after the U.S. ended prohibition, pending various approvals.

Canopy’s proposal calls for Canopy USA, not Canopy Growth, to own the assets, and the Canadian business would hold nonvoting, exchangeable shares in Canopy USA.

“Fitch believes the transaction, as proposed, is subject to material execution risks including regulatory, shareholder and exchange approval,” the credit ratings agency said.

Stock exchange risk

Fitch isn’t the first to raise concerns about the deal.

The New York-based Nasdaq stock exchange objects to Canopy’s plan to eventually consolidate the financial results of Canopy USA.

By contrast, the Toronto Stock Exchange (TSX) suggested that the proposed structure is compatible with the exchange’s rules.

Neither the TSX nor the Nasdaq would answer specific MJBizDaily questions.

“Canopy’s credit agreement contains affirmative covenants to comply with all policies and listing requirements of public securities exchanges,” the Fitch notice acknowledged, adding: “A failure to remain listed on at least one exchange would be a condition for an event of default.”

Fitch noted that Canopy USA would need to maintain funding separate from its parent company.

t’s the second time in six months that Canopy’s credit rating has come under scrutiny from Fitch.

The New York-based ratings company said it believes the strategic link between Canopy’s biggest investor, alcohol giant Constellation Brands (CBI), and the licensed cannabis producer “has materially diminished” after Canopy announced its plan to speed its entry into the U.S. THC market.

“As such, Canopy’s ratings no longer benefit from a one-notch uplift from its standalone credit profile,” Fitch said.

In a statement to MJBizDaily, a Canopy spokesperson said Constellation Brands remains vested in Canopy’s success as a major shareholder “and fully supports this strategy as the best way to position Canopy for near- and long-term success.”

The spokesperson added that Canopy is making the move to take its destiny into its own hands by fast-tracking its entry into the U.S. marijuana market and taking full ownership of its investments there.

Constellation executives touched on their commitment to Canopy and the cannabis industry in a conference call with analysts on Oct. 6.

After being asked how long Constellation is willing to “wait” for U.S. legalization and how he views the alcohol company’s stake in the cannabis producer changing, Constellation CEO William Newlands said, “I wouldn’t expect you to see the size of our investment in that change.”

Newlands admitted he “failed miserably” in predicting the pace of U.S. legalization but also said he’s “hopeful” there will soon be progress.

In its latest update, Fitch said it downgraded the long-term issuer default ratings for Canopy Growth from CCC to CCC-.

Fitch also lowered the credit rating of the senior secured term loan facility from B/RR1 to B-/RR1.

Fitch’s action comes less than a week after Canopy announced a plan to speed its entry into the American market.

Rather than waiting for the United States to legalize at the federal level, Canopy launched Canopy USA, which would purchase the three American marijuana businesses Canopy had agreed to buy after the U.S. ended prohibition, pending various approvals.

Canopy’s proposal calls for Canopy USA, not Canopy Growth, to own the assets, and the Canadian business would hold nonvoting, exchangeable shares in Canopy USA.

“Fitch believes the transaction, as proposed, is subject to material execution risks including regulatory, shareholder and exchange approval,” the credit ratings agency said.

Stock exchange risk

Fitch isn’t the first to raise concerns about the deal.

The New York-based Nasdaq stock exchange objects to Canopy’s plan to eventually consolidate the financial results of Canopy USA.

By contrast, the Toronto Stock Exchange (TSX) suggested that the proposed structure is compatible with the exchange’s rules.

Neither the TSX nor the Nasdaq would answer specific MJBizDaily questions.

“Canopy’s credit agreement contains affirmative covenants to comply with all policies and listing requirements of public securities exchanges,” the Fitch notice acknowledged, adding: “A failure to remain listed on at least one exchange would be a condition for an event of default.”

“Fitch will continue to review Canopy’s corporate structure and exposure to U.S. THC assets that are federally illegal and whether that increases rating concerns,” the ratings company said.

Fitch also noted “significant execution risks” in Canopy’s premiumization strategy and an uncertain path to profitability, highlighting significant lost market share in Canada.

“This has delayed production of a consistent, higher-quality supply at commercial scale and generated weak operating results with an uncertain path to profitability,” according to the Fitch note.

“Canopy hopes to counter these issues with a change in its genetics and cultivation strategy to higher quality cannabis with the right attributes … for the premium and mainstream flower, pre-rolls, edible and vape markets, while using the value segment as an outlet strategy.”

On that point, Constellation’s executives said during the analyst conference call they continue to believe that Canopy’s focus on “premiumizing” its cannabis branded portfolio in Canada “is appropriate,” and they remain supportive of Canopy’s efforts to strengthen their emerging consumer packaged goods brand distribution.

Fitch said further negative rating actions could be taken if the company’s “premiumization” cultivation strategy fails, or if it pursues a repayment of the remaining 2023 notes that Fitch considers a distressed debt exchange, if liquidity appears constrained, such that a default is probable.
Canopy shares trade as WEED on the Toronto Stock Exchange and as CGC on the Nasdaq.

https://mjbizdaily.com/fitch-chops-canopy-rating-citing-cannabis-producers-constellation-link/

Canadian cannabis insolvencies persist in 2023 amid industry woes

Oh I am correct

Financially distressed cannabis companies continued to seek refuge in Canadian insolvency law in 2023, although such insolvency filings under one statute declined from 2022.

This year’s cannabis insolvencies included big names such as retailer Fire & Flower and producer Aleafia Health, highlighting the industrywide struggle to keep operating in the face of low marijuana prices, high taxes and trouble accessing new funding.

In the cannabis sector, a number of CCAA cases have featured a debtor-in-possession loan from a would-be buyer, who puts in a stalking-horse bid to buy the insolvent company or some of its assets.

Notable Canadian cannabis CCAA filings in 2023 included:

Major retail chain Fire & Flower Holdings, which was acquired through insolvency proceedings by privately held retailer Fika Cannabis.
Producer Aleafia Health, which is in the process of being purchased by U.S. multistate cannabis company Red White & Bloom Brands.
Phoena Group, risen from the ashes of predecessor company CannTrust, which faced a major scandal involving growing plants in unlicensed areas of its facility.
Other CCAA filings involving marijuana companies and cannabis-related entities this past year included:

Chalice Brands, a Canadian company with cannabis assets in Oregon.
Investment company Plant-Based Investment Corp., previously known as Cannabis Growth Opportunity Corp.
Capcium, which created softgel capsules for the cannabis industry and other sectors.
Beverage company BioSteel Sports Nutrition, owned by cannabis company Canopy Growth Corp.

https://mjbizdaily.com/canadian-cannabis-insolvencies-persist-in-2023/

So funny, some people (investors) have no idea about cannabis in any way, If you don’t get out of canopy,…you will lose your pants
I dont need too buy anything from your investment money, chronic consumers cant afford too buy over priced, third party markups and taxes on top, this is why the stockmarket weed corporations are bankrupt and in credit protection, they are behind millions in tax debt, isn't that the main reason for government legalization ?

Constellation Brands converts shares in cannabis operator Canopy, departs board
Weed investment money no longer yours

Beverage alcohol company Constellation Brands has converted its shares in Canadian cannabis company Canopy Growth Corp. into new exchangeable shares.

Constellation’s exchangeable shares may be converted back into Canopy common shares on a one-to-one basis, the companies announced Friday.

However, the two Constellation subsidiaries that now own the exchangeable shares don’t plan to convert them “until such time as the U.S. domestic sale of marijuana could not reasonably be expected to violate the Controlled Substances Act, the Civil Asset Forfeiture Reform Act (as it relates to violation of the Controlled Substances Act), and all related applicable anti-money laundering laws,” Constellation said in a news release.

The three remaining Constellation nominees to Canopy’s board have all resigned as part of the deal, and Constellation “no longer holds any governance rights in relation to Canopy Growth,” Canopy noted in its release.

Promissory note forgiven
Constellation subsidiary Greenstar Canada Investment Limited Partnership has also canceled and forgiven a promissory note to Canopy with principal worth 100 million Canadian dollars ($72.8 million), converting CA$81.2 million of the principal into shares and forgiving the remaining principal and interest.

Smiths Falls, Ontario-based Canopy said it now has CA$100 million less debt on its balance sheet.

“While we remain supportive of Canopy’s strategy, this transaction is expected to eliminate the impact to our equity in earnings and is aligned to our intent to not deploy additional investment in Canopy,” Constellation President and CEO Bill Newlands said in a statement.

Constellation’s move comes days after Canopy shareholders approved the creation of the exchangeable shares as part of a plan to create the company’s U.S.-domiciled holding company Canopy USA, which is meant to acquire Canopy’s existing U.S. cannabis assets.

“We look forward to maintaining an enduring positive relationship with (Constellation) as our largest shareholder, and to the further advancement of the Canopy USA strategy that this change enables as Canopy USA moves forward with the acquisitions of Wana, Jetty and Acreage,” Canopy CEO David Klein, a former Constellation executive, said in a statement.

Constellation-Canopy history
Constellation originally invested in Canopy in 2017, taking a 9.9% stake.

The Victor, New York-based alcohol company poured an unprecedented CA$5 billion into Canopy in 2018, acquiring more shares in a deal in which Constellation received board seats and warrants that could have boosted its stake in Canopy to more than 50%.

Constellation exercised some of those warrants in 2020.

By 2022, however, Constellation said it did not plan to invest any more capital in the Canadian cannabis operator.

Constellation allowed its warrants to purchase additional Canopy shares to expire last November.

Canopy’s latest quarterly net loss was CA$216.7 million, with net revenue of CA$78.5 million.

Shares of Canopy trade on the Nasdaq as CGC and on the Toronto Stock Exchange as WEED.

Constellation trades as STZ on the New York Stock Exchange.

https://mjbizdaily.com/constellation-brands-converts-shares-in-cannabis-operator-canopy-departs-board/

I recommend too ALL American's too search Canadian legalization News, You will learn whats going on here.
This happened before legal in Canada, The Government and law enforcement raided, arrested, and shutdown all unregulated dispensaries including medical, so CEOs could license first.

Republican Senators Say Cannabis Rescheduling Violates International Treaties

Three Republican senators are calling on the DEA to reject a Biden administration proposal to reschedule marijuana under federal drug laws.

I wouldn't bet your money on this

Senator Mitt Romney of Utah and two of his Republican colleagues have sent a letter to the Drug Enforcement Administration, urging the law enforcement agency to decline a bid to reschedule marijuana under federal drug laws. Cannabis is currently listed under Schedule I of the federal Controlled Substances Act (CSA), a designation reserved for drugs with no accepted medical value and a high potential for abuse.

The letter, which was signed by Romney and Republican Senator Jim Risch of Idaho and Nebraska’s Senator Pete Ricketts, was addressed to Drug Enforcement Administrator Anne Milgram. All three lawmakers are members of the Senate Foreign Relations Committee. In the letter, the senators expressed concerns over a Biden administration proposal to reclassify cannabis under the CSA.

In August 2023, the Department of Health and Human Services (HHS) recommended that the DEA reclassify marijuana by moving it from Schedule I of the CSA to Schedule III, a classification intended for “drugs with a moderate to low potential for physical and psychological dependence” such as Tylenol with codeine or ketamine. The trio of Republican senators urged the DEA administer to carefully consider the HHS proposal.

“Any effort to reschedule marijuana must be based on proven facts and scientific evidence — not the favored policy of a particular administration — and account for our treaty obligations,” the senators wrote in their letter.

The senators noted in their letter that cannabis is controlled by international treaty, “which is not surprising given its known dangers and health risks — and the United Nations International Narcotics Control Board (INCB) has fiercely criticized efforts to legalize marijuana in other countries as a violation of the treaty.”

International policy on marijuana is governed by the Single Convention on Narcotic Drugs, an international treaty adopted in 1961 and ratified by the U.S. Senate in 1967. Under the treaty, the United States is required to implement certain controls over drugs covered by the international agreement, including marijuana. The CSA implements those treaty obligations in U.S. domestic law and requires the U.S. Attorney General to place marijuana in the schedule that he or she deems most appropriate to carry out the country’s obligations under the Single Convention.

“In prior rescheduling proceedings, the DEA has determined that section 811(d) requires it to classify marijuana as a schedule I or II drug in order to comply with our treaty obligations under the Single Convention,” the letter continued, referring to the relevant section of the international treaty.

“It is important that the DEA continues to follow the law and abide by our treaty commitments,” the senators wrote.

The senators also requested more information including whether rescheduling marijuana would affect whether other countries comply with drug treaty provisions “including for deadly narcotics like fentanyl,” asking the agency to respond to a list of questions by April 12.

The letter also cites a recent study that showed that daily marijuana use was associated with a 25% increase in the risk of a heart attack and a 42% increase in the risk of stroke. They also noted that other research has linked cannabis use “with serious psychotic consequences, including schizophrenia and bipolar disorder.”

On Wednesday morning, Romney took to social media to share the letter he and his Republican colleagues sent to Biden administration officials at the DEA.

“To be blunt: rescheduling marijuana may cause the U.S. to violate obligations under the Single Convention on Narcotic Drugs,” Romney wrote on X, the social media platform formerly known as Twitter. “Efforts to reschedule marijuana must be based on evidence, not politics, and @DEAhq must ensure we abide by our treaty commitments.”

Despite the senators’ fears, Jason Adelstone, a senior associate attorney with national cannabis law firm Vicente LLP, said that international treaties do not preclude the federal government from reclassifying cannabis under Schedule III of the CSA.

“The erroneous and unsubstantiated fears about marijuana are based on fictional ‘war on drugs’ themes and not the current state of medical and scientific knowledge about marijuana,” he wrote in an email to High Times. “The letter contained several incorrect statements, including the mistaken assumption that moving marijuana to Schedule III would somehow violate the Single Convention.”

“However, the Single Convention specifically endorses ensuring medical and scientific access to controlled substances,” Adelstone continued. “Moving marijuana to Schedule III would better promote medical and scientific access to marijuana.”

The DEA is currently reviewing the HHS proposal to reschedule marijuana, but the agency has not announced a timeline for the decision.

https://hightimes.com/news/republican-senators-say-cannabis-rescheduling-violates-international-treaties/

Canadian cannabis insolvencies persist in 2023 amid industry woes

I will say again There is no money too be made in commercial weed, and what money that does trickle in, goes directly into the wallets of stockmarket millionaire weed executives.

We couldn’t make a go of it’

The CCAA allows insolvent Canadian companies to apply for a court order to keep creditors at bay while the company restructures its debts or seeks a buyer or new financing.

In the cannabis sector, a number of CCAA cases have featured a debtor-in-possession loan from a would-be buyer, who puts in a stalking-horse bid to buy the insolvent company or some of its assets.

Notable Canadian cannabis CCAA filings in 2023 included:

Major retail chain Fire & Flower Holdings, which was acquired through insolvency proceedings by privately held retailer Fika Cannabis.
Producer Aleafia Health, which is in the process of being purchased by U.S. multistate cannabis company Red White & Bloom Brands.
Phoena Group, risen from the ashes of predecessor company CannTrust, which faced a major scandal involving growing plants in unlicensed areas of its facility.
Other CCAA filings involving marijuana companies and cannabis-related entities this past year included:

Chalice Brands, a Canadian company with cannabis assets in Oregon.
Investment company Plant-Based Investment Corp., previously known as Cannabis Growth Opportunity Corp.
Capcium, which created softgel capsules for the cannabis industry and other sectors.
Beverage company BioSteel Sports Nutrition, owned by cannabis company Canopy Growth Corp.

https://mjbizdaily.com/canadian-cannabis-insolvencies-persist-in-2023/

Canada’s unpaid cannabis taxes soar 72% to almost CA$300 million

How can someone that is betting their savings on a Company that cant even pay their Bills???

A growing number of Canadian cannabis producers continue to rack up tax debt, which could lead to “a meaningful number” of companies going out of business if they’re unable to make those payments, according to the latest tax data and industry analysts.

Federally licensed cannabis producers owed the Canada Revenue Agency (CRA) 273.4 million Canadian dollars ($202 million) as of Dec. 29, 2023, marking a 72% increase compared to the figure from about one year earlier, MJBizDaily has learned.

The number of delinquent companies has grown sharply in recent years.

Roughly 259 licensees were behind on their tax commitments as of Dec. 29, the CRA told MJBizDaily.

The tax levies could be for excise duty, Canada’s Harmonized Sales Tax, payroll tax or corporate income tax.

According to CRA data, cannabis businesses behind on their tax commitments in other years were:

12 in March 2019.
33 as of March 2020.
68 in March 2021.
141 companies in March 2022.
213 as of March 2023.
The snowballing situation might have been what prompted the CRA to embark on an unprecedented crackdown.

Last week, citing provincial and industry sources, MJBizDaily reported that the CRA had ordered at least three government-owned wholesalers to garnish payments from licensed producers that were delinquent on their tax commitments.

The three wholesalers – in British Columbia, Ontario and Quebec – account for almost three-quarters of all legal cannabis sales in Canada.

The CRA wouldn’t confirm those garnishment orders, saying the disclosure of such information could compromise confidentiality provisions of Canada’s taxation laws.

The tax-collection agency also declined to say how many companies were affected.

Beena Goldenberg, CEO of Toronto-headquartered cannabis operator Organigram Holdings, said the excise tax rate needs to be lower.

But she also said the industry needs a level playing field to continue to mature.

“We all want players in this industry to succeed, and a level playing field is critical to the development of a successful and sustainable industry in the long term,” she said in an interview with MJBizDaily.

https://mjbizdaily.com/canada-unpaid-cannabis-taxes-soar-to-almost-ca300-million/

In their effort to legalize and regulate hemp-derived CBD, the Farm Bill authors stipulated that any cannabinoid derived from hemp – defined as cannabis containing less than 0.3% delta-9 THC – was a legal product.

But the delta-9 specification left other cannabinoids outside the realm of regulation.

The Farm Bill also created a “massive gray market worth an estimated $28 billion” that’s delivering “cannabis-equivalent products into our economies regardless of states’ intentions to legalize cannabis use, and dangerously undermining regulations and consumer protections in states where adult-use legal cannabis programs are already in place,” the attorneys general wrote.

The cannabis industry was hopeful Congress would fix that loophole when the 2018 Farm Bill expired in 2023.

But owing, in part, to a leadership struggle and, more recently, a tussle over the federal budget, Congress has yet to release a draft of a new Farm Bill.

In fact, last November, Congress extended the 2018 Farm Bill until September 2024.

The letter noted that, “regardless of your Committees’ intentions, the reality is that this law has unleashed on our states a flood of products that are nothing less than a more potent form of cannabis, often in candy form that is made attractive to youth and children – with staggering levels of potency, no regulation, no oversight, and a limited capability for our offices to rein them in.”

Does any of this sound Like US Cannabis Money???

https://mjbizdaily.com/intoxicating-hemp-derived-cannabinoids-must-be-halted-state-ags-tell-congress/

Predatory Naked Shorters are involved in $CGC's private placement announced yesterday.

BIG RED FLAG: Predatory Naked Shorters are involved in $CGC's private placement announced yesterday: BPY Ltd, Nomis Bay Ltd, and NewGen. They are all connected to Murchinson Ltd owned by Marc Bisticer and his partner Paul Zogala.

The SEC has previously charged Murchinson with violation of short-selling rules:

"uncovered short selling and other illegal trading practices" ... "This was repeated for hundreds of sale orders between June 2016 and October 2017" ... "the firm provided erroneous order marking information on orders of a hedge fund client, marking trades as “long” that should have been marked as short sales, thereby violating Regulation SHO"

Why the fuck is $CGC still doing deals with known naked shorters, allowing them to cover shorts into Private Placements at a discount to the market (risk-free short) and get a free warrant for each PP share?

In 2023, the OSC made serious accusations against them.

Key quotes from the OSC naked shorting accusations:

“accountable for an illegal and abusive short selling scheme that violated Ontario securities law in connection with a private placement by a public company – Canopy Growth Corporation”

“Bistricer created and carried out an illegal and abusive short-selling scheme”

“put up no money of its own. It simply sold Canopy shares it did not own and used the proceeds to pay for the private placement shares”
“For Bistricer’s private holding company, profit was over $1.27 million” in just a few days.”

“The series of transactions ultimately resulted in retail investors purchasing the Canopy shares that were sold short by Saline. The cash the public paid for those shares flowed through Saline to Canopy, as Canopy’s offering proceeds. This was a public offering of Canopy shares. This type of illegal distribution is sometimes called “backdoor underwriting”.
“Saline’s short sales were motivated by the opportunity for virtually risk-free profits”

$CGC management was complicit. In 2017, Canopy's Director lent shares to short sellers and arranged a private placement for them to cover.

"On March 17, Saline (owned by Bistricer) entered a private placement subscription agreement with Canopy and a securities lending agreement with Goldman Holdings Ltd. (GHL), a private company that Murray Goldman, a Canopy director, used to hold his shares. In anticipation of these transactions, Saline sold short 2.5 million Canopy shares in the open market for approximately $26.76 million."

According to $CGC prospectus from Sept 2023, entities controlled by Murchison owned 6% of Common Shares with warrants to double the position and an over-allotment option. They were also involved in $ACRG. They've been naked shorting for years. Now they're back for more with yesterday's $35M private placement.

What. The. Fuck. Is going on here?

🚨 BIG RED FLAG: Predatory Naked Shorters are involved in $CGC's private placement announced yesterday: BPY Ltd, Nomis Bay Ltd, and NewGen. They are all connected to Murchinson Ltd owned by Marc Bisticer and his partner Paul Zogala.

The SEC has previously charged Murchinson with… pic.twitter.com/mHnCv2Ubgm

— WeedStreet420 (@WeedStreet420) January 20, 2024

Canadian cannabis insolvencies persist in 2023 amid industry woes

Financially distressed cannabis companies continued to seek refuge in Canadian insolvency law in 2023, although such insolvency filings under one statute declined from 2022.

This year’s cannabis insolvencies included big names such as retailer Fire & Flower and producer Aleafia Health, highlighting the industrywide struggle to keep operating in the face of low marijuana prices, high taxes and trouble accessing new funding.

Seven of the 57 filings under the Companies’ Creditors Arrangement Act (CCAA) through Dec. 15, 2023, or about 12%, involved marijuana companies or cannabis-related entities.

That represents a decline from 2022, when more than a third of all businesses filing for CCAA had some involvement in cannabis.

Other troubled cannabis companies used a different Canadian insolvency statute, the Bankruptcy and Insolvency Act.

Insolvent Canadian marijuana companies typically have in common “a legacy of huge capital expenditures to build a facility and get licensed,” said Trina Fraser, a cannabis commercial lawyer and a partner with Brazeau Seller Law in Ottawa.

“A lot of that was equity-financed, not debt, but in some cases there’s a debt that has to be serviced that they’re having trouble servicing, (and) certainly a timeline to profitability that was not anticipated,” Fraser added.

‘We couldn’t make a go of it’

The CCAA allows insolvent Canadian companies to apply for a court order to keep creditors at bay while the company restructures its debts or seeks a buyer or new financing.

In the cannabis sector, a number of CCAA cases have featured a debtor-in-possession loan from a would-be buyer, who puts in a stalking-horse bid to buy the insolvent company or some of its assets.

Notable Canadian cannabis CCAA filings in 2023 included:

Major retail chain Fire & Flower Holdings, which was acquired through insolvency proceedings by privately held retailer Fika Cannabis.
Producer Aleafia Health, which is in the process of being purchased by U.S. multistate cannabis company Red White & Bloom Brands.
Phoena Group, risen from the ashes of predecessor company CannTrust, which faced a major scandal involving growing plants in unlicensed areas of its facility.
Other CCAA filings involving marijuana companies and cannabis-related entities this past year included:

Chalice Brands, a Canadian company with cannabis assets in Oregon.
Investment company Plant-Based Investment Corp., previously known as Cannabis Growth Opportunity Corp.
Capcium, which created softgel capsules for the cannabis industry and other sectors.
Beverage company BioSteel Sports Nutrition, owned by cannabis company Canopy Growth Corp.

The CCAA is available only to Canadian companies with debts exceeding 5 million Canadian dollars (roughly $3.7 million).

An insolvency attorney previously told MJBizDaily that the CCAA is typically used for larger companies with more complex restructuring cases.

Some other Canadian cannabis players have turned to a different corporate insolvency statute, the Bankruptcy and Insolvency Act (BIA).

Privately held cannabis grower Ogen is one of them: The Calgary, Alberta-based company closed in November, affecting nearly 90 employees.

Ogen President Darren Brisebois described the company as “a very efficient organization. We sold every gram that we produced.”

Still, “we couldn’t make a go of it, particularly with the pricing compression,” he told MJBizDaily.

“As the revenue per gram decreases, your percentage of excise tax on sales actually increases.

“You add that on top of property tax and regulatory fees and Health Canada fees, (provincial wholesaler Alberta Gaming, Liquor and Cannabis) fees – I mean, we were paying 40% to 45% right off the top to government agencies,” he said.

“It got to a point where it was impossible.”

Privately held cannabis producer Tantalus Labs, based in Maple Ridge, British Columbia, also filed under the BIA in 2023.

“The reason why we were unable to continue to operate our business is simply that (neither) our business nor any business can afford to pay what amounted to a 35% total (excise) tax rate coming off of our top-line revenue,” said Tantalus founder Dan Sutton, who had been an outspoken critic of Canada’s cannabis excise tax regime.

“It’s as simple as that.”

The Tantalus brand and its remaining inventory were ultimately bought by Newfoundland marijuana producer Atlantic Cultivation.

Debts to government a key challenge

For struggling cannabis companies, excise tax owed to the Canadian government is “often the precipitant of the insolvency proceedings,” cannabis lawyer Fraser said.

As MJBizDaily has previously reported, the Canada Revenue Agency (CRA) tax authority and federal cannabis regulator Health Canada (which charges companies regulatory fees) tend to be major creditors for insolvent marijuana companies.

Unlike owing money to private-sector creditors, marijuana companies that owe government agencies risk losing the licenses they need to do business.

Some companies “just cannot access the cash to deal with these liabilities that are overdue, and they push them off as long as they possibly can, and when the point comes where you can’t push them off any longer, that’s when the house of cards folds,” Fraser said.

She expects to see more Canadian cannabis insolvencies in 2024 but said the exact number of insolvencies largely depends “on how aggressively CRA and Health Canada approach arrears in excise duty and regulatory fees and whether we get any reform.”

However, one cannabis company’s calamity can be another operator’s windfall.

Fraser has represented cannabis companies acquiring insolvent companies or certain assets.

“It could be the real property, it could be a lease of a facility, it could be equipment, it could be cannabis inventory, it could be intellectual property,” she said.

At one time, cannabis companies that wanted to sell facilities and licenses could usually find a buyer, Fraser said, but that’s no longer the case.

“We’re at the point where there’s a lot of sites on the market. … And there’s lots of sites available for sale that aren’t finding buyers for one reason or another,” she said.

“They may just sit dormant and ultimately close their doors and voluntarily relinquish their licenses, and it may never turn into an insolvency proceeding per se, because a lot of them were never operational.

“But to the extent that they were operational and there are liabilities that have to be dealt with – if they don’t find a buyer, if they don’t have access to capital, at some point, it’s over.”

https://mjbizdaily.com/canadian-cannabis-insolvencies-persist-in-2023/

Why was the Ontario Cannabis Store sitting on a CA$500 million cash stockpile?

Still don't know that the whole cannabis industry from Tweed right up to government owners is all corrupt. criminals, and scum.

The only people getting burned are the cannabis consumers and YOU.

https://mjbizdaily.com/ontario-cannabis-store-is-sitting-on-ca500-million-cash-stockpile/

LMAO This really does scam and lie too shareholders, right down to the address they sold and lost millions on
it really is done now !!

Who are the illicit producers?? Is it me with a 12 year medical production license? Is it The home owners growing their own recreational cannabis? or is it the former medical dispensaries that won a couple of court cases and are selling cannabis online at Not for Profit prices?

In Canada $5b speculation turned into -$50b loss
your posts are coulda shoulda woulda as your speculated news says
If you are still believing the weed executives you are being conned
Worse if you are putting your investment money and cannabis allowance in their pockets while going bankrupt
really great money management Bud.

There's to Tweeds huge corporation LOL.........

Where do you place CGC & the stockmarket corporations when the US legal cannabis states "Industry" is already in place and completely covering consumer Demand?????????? you must know this right?

Biosteel is not a weed product, not many are buying there moldy flower, and they can't sell their weak drinks, If you are investing or buying commercial weed realize the only ones make money are the weed executives pocketing your money.

You believe everything the fat wallets say??? LOL Tweed/Weed/CGC can't compete with this, Why they are bankrupt.

2 ounces of mids + 1gram of hash from long time legacy growers for $112.00, the 1g hash bought free shipping

Canopy Growth Corp. is ceasing funding of its BioSteel Canada subsidiary and plans to conduct a court-supervised sale of the business, the Ontario-based company said Thursday.

BioSteel, which makes sports nutrition beverages, obtained an initial order for creditor protection under the Companies’ Creditors Arrangement Act (CCAA) from a Canadian court, according to a Canopy news release.

The 1 ligament CGC Brand that is actual selling is now broke and Your CEO is selling it.

But ya go fill the big wallets They Need You !!!

https://mjbizdaily.com/canopy-subsidiary-biosteel-enters-hibernation-ahead-of-planned-sale/

Republican Legislators Call on DEA To Reject Recommendation To Reschedule Cannabis
A group of 14 congress members wrote a letter stating that recommending cannabis to be rescheduled is “irresponsible.”

Why do you continue too post comments that are not based on facts ?

“The recommendation to remove marijuana from the DEA’s list of dangerous Schedule I drugs is not based on science—it’s based on an irresponsible pro-pot agenda,” Lankford wrote on social media and sharing the letter.

“We write to urge the Drug Enforcement Administration (DEA) to reject any petition or request to remove marijuana from Schedule I of the Controlled Substances Act (CSA). Any effort to reschedule marijuana should be based on proven facts and science—not popular opinion, changes in state laws, or the preferred policy of an Administration,” the letter states.

One of the letter’s arguments against rescheduling cannabis cites the National Institute on Drug Abuse (NIDA), stating that “30% of marijuana users have marijuana use disorder, who are severely addicted to the drug.” The authors mention the rise in THC in products today compared to 25 years ago. “These facts indicate that marijuana has a high potential for abuse and that the risk is only increasing,” they added. Last month, NIDA reportedly signed off on the HHS recommendation.

The letter authors also make claims that cannabis “does not have a currently accepted medical use.” While it mentions the single Food and Drug Administration (FDA)-approved cannabis-derived drug (Epidiolex), and three synthetic cannabis drugs (Marinol, Syndros, and Cesamet), the letter states that substances only have medical value if they are approved by the FDA. The authors also added that previously in 2016, the DEA rejected two petitions for cannabis rescheduling, and the HHS agreed. “The rejection letter stated, ‘At this time, the known risks of marijuana use have not been shown to be outweighed by specific benefits in well-controlled clinical trials that scientifically evaluate safety and efficacy,’” the letter stated. “We believe this analysis is still true today. In fact, HHS recommended at the time that DEA reject these petitions and that marijuana remain in Schedule I.”

https://hightimes.com/news/republican-legislators-call-on-dea-to-reject-recommendation-to-reschedule-cannabis/

Congressional Lawmakers Tell DEA To Keep Marijuana In Schedule I And ‘Reject’ Top Health Agency’s Recommendation

Your posts have no true/fact based cannabis news and all you got is speculation, I am a legal Canadian grower and will tell you not 1`government wants or will allow open advertising of weed, you should research Canada's Regulations and continued too prohibit and ban cannabis so strictly that is driving consumers back too old sources and newly licensed private companies. You are only going too lose your investment again, US already has a supply chain and state retail they will be the ones collecting licenses.

Compliance With Cannabis Act Regulations Regarding Online Promotion Among Canadian Commercial Cannabis-Licensed Firms
https://jamanetwork.com/journals/jamanetworkopen/fullarticle/2781908

https://www.marijuanamoment.net/14-gop-congressional-lawmakers-tell-dea-to-keep-marijuana-in-schedule-i-and-reject-top-health-agencys-recommendation/

Sell now, you make 72 cents on a $1 share, Wow big money, all of you care less about losses and more on speculation on a company thats lost 80% of its worth, while your investment money goes directly into the pockets of weed executives to pay their million dollar wage, They need your money!!!!!!!!!! and investors continue to be scammed.

Canopy Growth shares were under pressure for a second day as analysts questioned whether the Canadian cannabis grower could reduce it cash burn and turnaround operations. Benchmark slashed its price target on the firm to zero.

The stock has dropped 78% this year amid a broader selloff in the increasingly competitive marijuana market and little progress on federal legislation in the US, closing unchanged at C$0.68 Monday. Its market capitalization has slumped from C$25 billion ($19 billion) in 2021 to less than C$400 million, leading to its expulsion from the S&P/TSX Composite Index earlier this month. https://fortune.com/2023/06/26/cannabis-pot-marijuana-canopy-growth-shares-analyst-zero-price-target/

Recreational Weed Industry “Verges On Collapse”

Your post is of speculation, hopes & dreams, delusional, and is not even close too the facts and truths of what is happening too legal weed, US cannabis is no different then the failed WEED/CGC in Canada. I am a 11 year licensed medical grower, I couldn't afford too buy a 1/4 of my prescription, will your cannabis needs make CGC money?

Recreational weed industry “verges on collapse” due to steep taxes, plunging prices, glut of competition – and thriving illicit pot market

Across the US, the recreational weed industry is under pressure from a “ganja glut”
Prices have plunged even as dispensaries complain of high taxes and red tape
Industry group warns pot business is “on the verge of collapse” without reforms
Across the US, the legalized marijuana industry is buckling under the strain of plunging prices, patchwork state regulation, and burdensome taxes, analysts and industry groups say.

‘All of these issues are chipping away at the health of the industry to the point where I would describe the industry as in crisis in the United States,’ Beau Whitney, senior economist for the National Cannabis Industry Association, told DailyMail.com this week. ‘This is unsustainable from an economic perspective.’

Currently, the recreational use of cannabis is legal in 23 states, and last year state-regulated medical and recreational pot sales topped $26 billion nationwide, according to Vangst.

But even while sales soar, dispensaries say eking out a profit is growing harder, as a glut of weed production pushes prices lower – a boon for blissed-out pot consumers, but a bane for growers and retailers.

In California, dispensary chain MedMen, once dubbed the ‘Apple store of weed,’ teeters on the brink of financial ruin, while in New Jersey a trade group warns the industry is stagnating in a ‘doom loop’ due to licensing delays.

‘Sadly, the recreational weed industry demanded by countless Americans are on the verge of collapse if common sense, practical reforms are not enacted urgently,’ the National Cannabis Industry Association (NCIA) warned in a report this month.

Because the recreational weed industry is regulated independently in each state where it is legal, the specific issues the industry faces vary from state to state.

But the industry’s fractured nature may be part of the problem, says Whitney, because any excess supply is officially trapped within the state it was grown, due to a federal ban on interstate sales of marijuana.

On the West Coast in particular, that has meant a glut of oversupply that has sent prices plunging.

When legal sales began in Oregon, a pound of cannabis might have gone for $3,000 wholesale, while now it might cost $100 to $150, Isaac Foster, co-founder of wholesale distributor Portland Cannabis Market, told the AP in April.

In Washington, which has some of the highest cannabis taxes in the country, the prices consumers pay in legal dispensaries can be even cheaper than illicit weed, due to the huge quantity of excess pot being grown in the state.

Nationwide, just 24 percent of companies in the cannabis industry are profitable, down sharply from 42 percent last year, according to a survey conducted by Whitney’s consulting firm, Whitney Economics.

Whitney told DailyMail.com that in addition to pricing pressures, cannabis businesses are struggling under tax burdens, because federal law prohibits them from deducting business expenses from income taxes like a normal business would.

As a result, he said, companies in the pot trade are often paying an effective federal tax rate of up to 70 percent — on top of the state and local excise taxes levied on sales.

In Michigan and Massachusetts, flood of new licenses threatens established dispensaries
In Michigan, the recreational weed industry set new a record of $276 million in July, but retailers say they are struggling to turn a profit as the state issues new licenses for growers and retailers each month, according to Bridge Michigan.

Michigan currently has 2,080 active licenses for recreational use, more than half of them belong to class c growers or retailers, who can can possess up to 1,500 plants.

Last month, the state received 97 applications for recreational use and issued 87 new licenses.

Michigan also levies steep state taxes on weed, and retailers face a 10 percent excise tax in addition to a 6 percent sales tax.

Meanwhile in Massachusetts, dispensary owners say low prices and a flood of competition threaten to put them out of business.

Kobie Evans, who opened Pure Oasis dispensary in Dorchester in 2020, and a second location in Boston this summer, told the Boston Globe this week that he fears for the viability of his business.

‘It’s actually very, very scary,’ Evans said. ‘When everyone was speculating about the industry, back in 2016, ’17, ’18, we all had these high hopes and all these grand expectations.’

But he added that, now, ‘The reality is setting in that there isn’t this pot of gold at the end of the rainbow.’

In many states that have legalized weed, lawmakers have prioritized cannabis licenses for applicants who were impacted by the war on drugs, such as through a former marijuana-related conviction.

But Whitney warned in a recent economic report that this goal, while admirable, should be balanced with forecasting to determine how many licenses a state market can reasonably bear.

‘Unlimited licenses ensure opportunities for smaller and social equity applicants, yet this approach leads to a propensity for oversaturation of supply, resulting in lower prices, tighter margins and economic stress for operators across the supply chain,’ he wrote.

In New Jersey, dispensaries blame red tape and licensing delays for cannabis ‘doom loop’
At the other end of the spectrum, cannabis companies in some states say they are being stifled by regulators who refuse to issue enough licenses to let the legal industry flourish.

On Tuesday, the New Jersey Cannabis Trade Association issued a report blaming state regulators for the industry’s slow growth in the state.

The trade group, which represents the majority of cultivators and dispensaries in the Garden State, said the industry is in a ‘doom loop’ due to licensing delays and a lack of enforcement against illicit products.

‘The root cause of the weaknesses in New Jersey’s cannabis industry is straightforward: The Cannabis Regulatory Commission’s anemic pace of licensing operators has suffocated the legal market,’ the group’s report said.

‘We’re advocating starting with the removal of the bureaucracy,’ Todd Johnson, the group’s executive director, told the Philadelphia Inquirer. ‘We are making it difficult right at the point of entry for no reason.’

New Jersey currently has 37 operating recreational cannabis dispensaries, and 13 that sell only medical marijuana.

Legal recreational sales in the state began with 12 adult-use retailers in April 2022.

Whitney noted that, when state regulators don’t allow the legal industry to grow to meet demand, illicit markets for pot thrive, raising concerns about safety and quality standards as well as lost tax revenue for the state.

‘You’re just not getting the types of benefits from the legal cannabis program that you would normally, so there’s a balance there,’ he said.

In New York City, delays in rolling out licenses have resulted in a free-for-all of bootleg weed retailers operating with impunity.

New York set aside its first dispensary licenses for people who had pot convictions or relatives who did, complexities that slowed the rollout after legalization of recreational use in March 2021.

Since then, just 15 approved retailers have opened in a state of nearly 20 million people.

In New York City, the number of corner bodegas and illicit dispensaries selling weed without licenses is estimated to top 1,000.

While there have been some attempts at enforcement, authorities are reluctant to be seen as re-criminalizing pot.

Ban on interstate trade leaves Western states with supply gluts
Meanwhile, some in the industry are holding out faint hopes that President Joe Biden’s administration will clear the way for marijuana trade among states that have legalized the drug.

That would allow the West Coast – with its favorable climate and cheap, clean hydropower for indoor growing – to help supply the rest of the country, they argue.

‘Now, that already occurs through the illicit channel,’ noted Whitney. ‘But if they had interstate commerce, then it would be more formalized. And then you’d have a balance, you’d have more demand to consume all that excess in the West, and you wouldn’t need to set up all this growing infrastructure in the East.’

How states have set up their markets has implications for how their industries are doing now – and how they might fare should businesses be allowed to sell out of state.

Washington and Colorado were the first states to legalize recreational marijuana in 2012.

Many of the early regulations Washington adopted to keep the Justice Department at bay – including restricting the size of growing facilities and banning out-of-state investment – remain in place.

That has helped some smaller growers thrive. But it could hamstring those hoping to compete in an interstate marketplace alongside larger, more efficient producers from Oregon or California, who operate under fewer limits.

In Oregon, where sales began in 2015, large growers have achieved some economy of scale that could give them a leg up in a broader market. But in the meantime, the state’s oversupply is considered the nation’s worst.

In February, the Oregon Liquor and Cannabis Commission reported marijuana businesses were sitting on about 3 million pounds of unused cannabis, as well as 75,000 pounds of concentrates and extracts.

.https://www.420magazine.com/420-news/recreational-weed-industry-verges-on-collapse/

Mulroney received over $13 million for his role as a director at Acreage Holdings

Doesn't matter CGC-Constellation-STZ All the weed executives are pocketing your share money, you know that your stock money that bought and sold for a loss in the millions, the only ones making money are same ones taking your money.

Stockmarket weed is done, they can't sell the cannabis for more then they can produce it.

Lots of the legacy producers are now licensed and selling so cheap, cheapest in 50 years.

This is a failed industry if daily users can't afford too buy, stockmarket fat wallets have XXXX out the daily and or medical Hourly users

Does anyone invested actually use cannabis ? But sure give your savings too David Klein

Mulroney was deemed to be among the highest-paid directors of a cannabis company. His total compensation, including base salary, annual bonus, equity (share-based awards and options-based awards) and pension, was reported to be $13,913,873.

https://www.thegrowthop.com/cannabis-news/meet-the-highest-paid-cannabis-executives-in-north-america-including-brian-mulroney?utm_medium=Social&utm_source=Twitter&fbclid=IwAR1ZeoGWfwYL3TrBMOwf7cM7SqNB6sCOuC2ozqbpuxzcQ3Q-uB-3aZfeE-M#Echobox=1590594614

Again the news of positive cannabis finances in the US won't benefit you through CGC because Tweed is not even a weed company in the USA, they are only a Health and wellness business making non-cannabis powder drink thats losing money as well.

This news is useless to you and CGC since Tweed-ally-Dumb sold all their interest in Germany less then a year and a half ago. How many cents do you have invested? What did I say in 2014 before legalization? "Tweed stock would only be $2 a share", I was wrong its only worth a few cents LMAO.

Canopy warned, “If we are unable to raise additional capital, it is possible that we will be unable to meet certain of our financial obligations,” adding, “These matters raise substantial doubt about our ability to continue as a going concern.” This going concern warning was initially issued in June.

https://www.cannabisnews.org/canadian-cannabis-news/canopy-growth-corp-faces-financial-uncertainty-a-detailed-look-at-q1-2024-results-and-ongoing-challenges/

LOL Breaking News.....CGC sells Tweeds HQ Smith Falls back too Hersey's for less then $55 Million only a fraction of the cost that they bought and equipped for !!!
They state "finally Smith falls will smell like chocolate again" referring too residents complaints of weed skunk invasion, Tweed is Gone !!!

Yikes. Canopy Growth gets a price target of zero dollars from Eight Capital. Stock??12% today after a large bounce yesterday.

"We believe it is no longer appropriate to value Canopy as a going concern..." the analyst wrote. #CGC #WEED

you always sign IMO, but your posts are all desperate speculations and fairytale wishes, Do you know anything about cannabis, whats your daily dose? or is it just your open wallet too pay CEO/Executives millions in salary & compensation?

The stock has dropped 78% this year amid a broader selloff in the increasingly competitive marijuana market and little progress on federal legislation in the US, closing unchanged at C$0.68 Monday. Its market capitalization has slumped from C$25 billion ($19 billion) in 2021 to less than C$400 million, leading to its expulsion from the S&P/TSX Composite Index earlier this month.

In a note Monday cutting his price target to zero, Benchmark analyst Mike Hickey said Canopy Growth’s management was unlikely to be able to turnaround performance. The firm, which acknowledged a going concern risk in its most recent annual report, “may not be able to continue operations and meet its financial obligations,” he wrote.

The company’s aggressive expansion into the US “could be a signal of desperation, given that the US market remains federally illegal,” he said.

The company didn’t immediately respond to a request for comment Monday afternoon.

Even if the US were to legalize marijuana, it would be “no saviour” for Canopy, which is burning cash despite multiple cost cutting programs,” CIBC Capital Markets analyst John Zamparo wrote in a separate note Sunday.

Zamparo trimmed his price target on the stock to C$0.45 from C$0.50, writing that its “debt worries are no paranoia.”

https://fortune.com/2023/06/26/cannabis-pot-marijuana-canopy-growth-shares-analyst-zero-price-target/

Class-action lawsuit launched in B.C. against Canopy cannabis over financial reporting
The lawsuit says the company admitted that it overstated revenue for its BioSteel subsidiary, causing investors economic loss.

How much money are you throwing these lying wallets? they are criminals, ripping off investors and consumers, shell corporations and made up revenue numbers so you will sink more in, Tweed will be delisted from the TSX very soon, take their ditch weed and lies too the US. https://vancouversun.com/cannabis/bc-lawsuit-canopy-growth-cannabis

Tilray discloses $1.2B quarterly loss, plan to buy cannabis rival Hexo for $56M
So you are losing money on all your speculative Bets, keep these share forever and you still won't make any money.

https://mjbizdaily.com/tilray-discloses-1-billion-quarterly-loss-plan-to-buy-cannabis-rival-hexo-for-56-million/