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The Week In Cannabis: Davos, Aphria’s Funding, Moves In Alaska, New York And Vermont – Yahoo Finance


here.” data-reactid=”18″>As the World Economic Forum unfolded in Davos, Switzerland, world leaders gathered to discuss, among other important topics, cannabis, its potential, its legalization, and the hurdles of such a process. Benzinga attended the pot-related events being held and you can check out our coverage here.

Meanwhile, lawmakers in Vermont filed a bill seeking to decriminalize psychedelic substances psilocybin, ayahuasca and peyote, as well as kratom, a plant with medicinal properties. Alaska regulators announced the approval of the first retail stores with authorization for on-site cannabis consumption, becoming the first state government to allow this.

In New York, Gov. Andrew Cuomo presented his fiscal 2021 budget proposal, which included fiscal revenue from legal, adult-use marijuana sales, suggesting legalization is just around the corner for the Empire State.

reportedly recorded saying marijuana makes people “lose IQ points.” Trump apparently quoted increased accidents in Colorado to justify his position, adding he’d continue to allow states to decide what to do about cannabis. It should be noted the recording leaked this weekend was taken in 2018.” data-reactid=”22″>And finally, President Donald Trump was reportedly recorded saying marijuana makes people “lose IQ points.” Trump apparently quoted increased accidents in Colorado to justify his position, adding he’d continue to allow states to decide what to do about cannabis. It should be noted the recording leaked this weekend was taken in 2018.

https://tinyletter.com/javierhasse” data-reactid=”23″>If you want to get this news recap in your email inbox every week, please subscribe to https://tinyletter.com/javierhasse

APHA) closed a strategic investment from an institutional investor who agreed to buy 14.04 million units (consisting of one common share and one-half of one common share purchase warrant) at a price of CA$7.12 ($5.42) per unit, for a total of CA$100 million in gross proceeds.

The company’s subsidiary ARA-Avanti Rx Analytics obtained a European Union Good Manufacturing Practices certification in connection with medicinal products for human use (including investigational ones), from the Malta Medicines Authority. The company chose the Malta Medicines Authority to conduct the EU GMP examination because it has the most demanding and rigorous criteria in the EU.

BHNGF) appointed Cypress Hill’s DJ Muggs as its chief brand strategist. DJ Muggs will focus on the “creative direction and strategy of the company.”

In the international arena, New Zealand said it was overturning a law that prohibits cannabis vaporizers. The reversal is expected before new regulations around the country’s medical cannabis program come into effect April 1.

“Currently, vaporizers are prohibited under the Misuse of Drugs (Prohibition of Cannabis Utensils and Methamphetamine Utensils) Notice,” a Health Ministry spokesperson told MJBizDaily. The website also reported edibles will not be allowed under the new rules.

In the U.K., Farmako GmbH subsidiary Farmako Limited obtained its Home Office Controlled Drug License to start wholesaling medical cannabis. The company plans to launch sales by the mid-2020, counting on the imports of Bedrocan products from the Netherlands.

Here is a look at how cannabis ETFs moved over the last five trading sessions:

HMLSF) (TSE:HMMJ) was down 6.6%.

MJ) lost 7.04%.

YOLO) tumbled 7.04%.

THCX) slipped 7.45%.

CNBS) lost 7.08%.

SPY) closed the period down 0.96%.

More News From The Week

Panacea Life Sciences gifted $1.5 million to Colorado State University to help create a cannabinoid research center.      

Trace, a Vermont-based blockchain-enabled soil-to-shelf tracking solution for the hemp industry, announced the launch of Trace Exchange, a seamless one-stop-shop for all of the best hemp and CBD from across the country. Every product on the online exchange is thoroughly vetted and researched before it is put up for sale. Additionally, Trace provides a Certificate of Analysis for each strain as well as additional information including packaging and trim level.

Joshua Decatur, Co-Founder and CEO of Trace told Benzinga, “The Trace Exchange is a first-of-its-kind service for the entire hemp industry. By creating software tools that keep permit holders compliant and providing a dependable outlet for product, we are able to help farmers, processors and others turn hemp to cash faster and more reliably. By thoroughly vetting and verifying all product and shipments, Trace stops surprises before they happen for buyers and helps them obtain the hemp that they expect.”

BofA Securities raised his price targets for Aphria, Canopy Growth, Cronos and Tilray, seeking to mirror the expansion of multiples across cannabis: “Higher multiples raise the bar for all, adding risk to all names that we think need to be contemplated.”

APHD) said it’s working on changing its name and stock symbol, seeking to better reflect its new focus on hemp. Management wants the new name to b e Verde Bio Holdings, Inc. The new stock symbol will be disclosed once it gets FINRA approval.

OILFF) announced that Health Canada has granted the company a Research Licence under the Cannabis Act. The license enables Nextleaf Labs to manage several research and development activities, including stability trials on the company’s nano emulsified water-soluble THC and CBD formulations.

ITHUF) attained approval to begin growing and processing of recreational-use cannabis at its facility in Massachusetts.

CGC) subsidiary Tweed Collective prolonged its application deadline until Feb. 20. With this announcement, Tweed is welcoming other Canadian registered charities, non-profits, and business improvement areas to apply with their proposals. Tweed Collective is a social purpose initiative with the aim of helping improve the lives of Canadians.

GOIG) signed a share acquisition agreement with Apex Extractions LLC, a California-based cannabis extraction facility.

CRRTF) subsidiary INTEGA Skin Sciences Inc. obtained a cannabis research license by Health Canada. The license enables the company to have cannabis for research and development purposes.

EPAZ) said its holding company, ZenaPay, received an order for a ZenaDrone from The Now Corporation (OTC: NWPN), making the latter the first U.S. company to utilize ZenaPay’s Drone Smart Farming Solution.

BILZF) announced the launch of a new product division called IGNITE Beverages.

CGC) appointed Judy Schmeling as chair of its board of directors, and Jim Sabia as a member of said board.

PURA) and Kali-Extracts Inc. (OTC: KALY) disclosed they’re in negotiations in relation to Puration’s potential purchase of Kali-Extracts’ CBD confection assets.

LHSIF) announced plans to enhance its online customer shopping experience by partnering with e-commerce platform iHeartJane.

Top Stories Of The Week

Check out the top stories on Benzinga Cannabis this week:

Check out these and many other cannabis stories on Benzinga.com/cannabis

Events Calendar

The conference, which takes place at the Fontainebleau Miami Beach, creates an ideal setting for attendees to learn from the individuals and experts driving the cannabis space forward amid regulation, legalization and industry changes.

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