The coronavirus is wreaking havoc on virtually every aspect of American life as federal and state officials work to limit the spread of the COVID-19 disease. So how has the cannabis industry been affected by the unprecedented measures being taken to combat the coronavirus across the globe?
A growing number of high-profile cannabis industry events have been put on hold due to concerns over the spread of a novel coronavirus disease, COVID-19, which earlier today was classified as a global pandemic by the World Health Organization (WHO).
Yet another prominent publicly-traded cannabis firm is taking drastic measures to reduce costs and achieve profitability. After the market closed Wednesday, Canada’s Canopy Growth Corporation (TSX:WEED, NYSE: CGC), the world's largest cannabis company by market cap, announced plans to shutter two cultivation facilities and cut 500 jobs.
Cresco Labs co-founder Joe Caltabiano has resigned as president, the Chicago-based multi-state operator confirmed Tuesday. In a press release, Cresco Labs said co-founder and CEO Charlie Bachtell, along with other members of the company’s leadership team, would assume Caltabiano’s management responsibilities.
Attempting to restrict Americans from using CBD is a “fool’s game,” according to FDA commissioner Stephen Hahn. Hundreds of companies aiming to capture a slice of a still-emerging category -- one that is defined by a murky regulatory framework and an immature body of scientific evidence -- have cropped up, infusing everything from beverages to bath bombs with CBD.
Vermont is poised to become the 11th U.S. state with a fully-legal commercial cannabis market. Earlier today, the Vermont House of Representatives gave its final approval to S. 54, a bill that would legalize, regulate, and tax adult-use cannabis sales for individuals 21 years and older. The final go-ahead comes one day after one day after the House voted 90-54 in favor of the bill.
On Monday, the Vermont House Appropriations Committee narrowly advanced a bill (S. 54) by a vote of 6-5 that would legalize, regulate and tax adult-use cannabis sales for individuals 21 years and older. A full House vote on S. 54 is expected later this week.
THCnet sat down with Andrew Kline, the National Cannabis Industry Association's director of public policy, during this week's Northeast Cannabis Business Conference to get his take on a myriad of issues -- including the chances of rescheduling cannabis, the timeline for legalization and how the NCIA approaches its lobbying efforts in Washington D.C.
Sen. Mike Crapo’s inbox is overflowing. Over the last month, the republican from Idaho -- who serves as the chairman of the Senate Banking Committee -- has received several letters concerning the Secure and Fair Enforcement (SAFE) Banking Act, which would protect financial institutions working with state-approved cannabis companies.