Cannabis Countdown: Top 10 Marijuana and Psychedelics Industry News Stories of the Week

Welcome to the Cannabis Countdown. In this week’s rendition, we’ll recap and countdown the top 10 Marijuana and Psychedelics industry news stories for the week of March 9th – 15th, 2020.

Without further ado, let’s get started.

*Yahoo Finance readers, please click here to view full article.

10. The Burgeoning Psychedelics Sector Has Investors Tripping For an Opportunity to Ride the Shroom Boom

The Psychedelics Sector Has Captivated the Attention of Investors on Wall Street All the Way to Silicon Valley

The emerging sector recently gained global media attention as two new Psychedelic Stocks went public. Champignon Brands SHRM (FRA: 496) was the first company to IPO, followed by MindMed MMED MMEDF BGHM a day later. While MMED garnered the majority of the media attention thanks to its backers Kevin O’Leary and former Canopy Growth WEED CGC (FRA: 11L1) CEO Bruce Linton, it was SHRM that took home the honours as the week’s top-performing new Psychedelics IPO.

READ FULL PSYCHEDELICS INDUSTRY ARTICLE

9. Cannabis Producers Continue to Operate Cultivation Facilities Amid COVID-19 Pandemic

Companies Are Monitoring the COVID-19 Pandemic, But Continue to Operate Grow Facilities

As Canadian cannabis companies monitor developments with the Coronavirus (COVID-19) pandemic, most major licensed producers (LPs) are still operating their cultivation facilities. Spokespeople from Canopy Growth WEED CGC (FRA: 11L1), HEXO HEXO HEXO (FRA: 74H), Aurora Cannabis ACB ACB (FRA: 21P) and Tilray TLRY 2HQ each told BNN Bloomberg that the companies have reduced business travel and given staff the option to work from home in light of advisories issued by the World Health Organization (WHO) regarding the Coronavirus outbreak.

READ FULL COVID-19 CANNABIS ARTICLE

8. Canada Defends Marijuana Legalization in Response to International Skepticism

The Remarks Were Delivered By Michelle Boudreau to the UN Commission on Narcotic Drugs

The Canadian government touted the benefits of its legal, regulated marijuana market in comments to the United Nations recently, saying that since legal sales began in the country a year and a half ago, “the illegal market has already lost 30% of its market share” and “rates of use have not changed among youth and young adults.”

READ FULL CANADA LEGALIZATION ARTICLE

7. Mindbloom Opens First Legal Psychedelics Clinic in the U.S.

The New Spa-Like Psychedelics Clinic is Located in New York City and Offers Guided Ketamine Therapy

Mindbloom, a guided and legal psychedelic therapy centre, has officially opened its doors on New York City’s famed 5th Avenue. The newly opened centre offers clinician-prescribed and science-based guided ketamine therapy in a modern, spa-like environment. Costs range from between $150 – $250 per session.

READ FULL MINDBLOOM ARTICLE

6. Miss Universe Canada 2019 Interviews Canopy Rivers CEO

Canopy Rivers is a Venture Capital Firm with a Unique Investment and Operating Platform

Narbe Alexandrian, CEO of Canadian licensed producer (LP) Canopy Rivers RIV CNPOF, sat down with TCI host Alyssa Boston (Miss Universe Canada 2019 + Cannabis Crusader) to discuss the current state of the business as well as the company’s plans for 2020 and beyond. The company has a strategic partnership in place with Canopy Growth WEED CGC (FRA: 11L1), the world’s largest cannabis company.

WATCH FULL CANOPY RIVERS CEO INTERVIEW

5. What Cannabis Companies Can Learn From Canopy’s Capacity Cuts

The Company is Closing 2 Greenhouses in British Columbia, Which Will Result in 500 Job Losses

Ontario, Canada-based cannabis producer Canopy Growth’s WEED CGC (FRA: 11L1) announced production cuts could help ease the nation’s oversupply issues as well as offer lessons for other operators on how to compete in a newer market.

READ FULL CANOPY GROWTH ARTICLE

4. Deals Scarce in Bruised Cannabis Sector as Risk-Off Sentiment Prevails

Oversupply Means Few Companies are Looking at Making Any Purchases, Even at These Prices

The pace of dealmaking in the already embattled cannabis sector is expected to slow even further, industry watchers say, as companies and investors retreat from risk amid recent turmoil in the equity markets.

READ FULL CANNABIS SECTOR ARTICLE

3. Alabama Senate Approves Medical Marijuana Bill

Lawmakers Voted 22-11 in Support of the Legislation

After hours of tense debate, the Alabama Senate voted on Wednesday to pass a bill to legalize medical marijuana in the state.

READ FULL ALABAMA MMJ ARTICLE

2. Hawaii Lawmakers Introduce Plan to Study Psychedelic Mushrooms with Goal of Legalizing Access

The Proposal Comes as a Number of Other U.S. Jurisdictions Explore Relaxing Laws Around Psychedelics

A pair of Hawaii lawmakers is pushing to explore the therapeutic potential of Psychedelic mushrooms, introducing legislation that could one day make Psilocybin-based products available to medical patients in the state.

READ FULL HAWAII PSYCHEDELICS ARTICLE

1. Major Trade Groups Urge Senate Committee to Pass Marijuana Banking Bill

Currently, a Bill That Would Resolve the Banking Issue is Sitting in Chairman Mike Crapo’s Committee

More than a dozen major trade groups and advocacy organizations sent a letter to the chair of the Senate Banking Committee on Thursday, asking that he advance a bill protecting financial institutions that service state-legal marijuana businesses from being penalized by federal regulators.

READ FULL CANNABIS BANKING ARTICLE

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