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The Week Ahead In Cannabis: 11th State Legalizes Adult-Use Cannabis, Maryland License Deadline And More

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The Week Ahead In Cannabis: 11th State Legalizes Adult-Use Cannabis, Maryland License Deadline And More
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This week is going to be rather exciting for the cannabis industry. Here are some of the main corporate and legislative events that you should keep an eye on over the following five days.

Corporate News

Acreage Holdings, Inc. (OTC: ACRGF) and Canopy Growth Corp (NYSE: CGC) expect to complete their merger on June 27, following a positive vote from shareholders and after the Supreme Court of British Columbia greenlighted the transaction. On June 26, shareholders of Acreage will be entitled to receive their pro rata portion paid by Canopy Growth.

On June 28, Innovative Industrial Properties Inc (NYSE: IIPR) is going ex-dividend. Last week, the cannabis-focused REIT said it will pay a dividend of 60 cents per share on July 15.

Relevium Technologies (OTC: RLLVF) will hold a shareholder and investor conference on June 28 to discuss its Latin American strategy and the potential of its acquisition of Colombia-based Lifeline Pharma SAS.

Need more cannabis news? Check out all of our coverage here.

Legislation

June 24 marks the deadline for companies in Maryland to apply for one of 14 growing and processing licenses. The Maryland Medical Cannabis Commission will offer four licenses for growing cannabis and 10 licenses to process the plant.

On June 25, Illinois is expected to become the 11th U.S. state with legal adult-use cannabis. After the law passed last month, Governor J.B. Pritzker is expected to sign it into law on Tuesday. The law won’t take effect until January 1, 2020.

The legalization of cannabis in Canada takes another step forward, as the government will finally make public its amendments to Cannabis Regulations, which will be published in the Canada Gazette on June 26. Among other things, the amendments, which will come into effect on Oct. 17, will provide the rules concerning cannabis edible products, extracts, and topicals.

On Friday, the Department of Agriculture in Nebraska opened up licensing applications for hemp. Potential hemp farmers and processors will be able to apply until June 28.

Events

European Cannabis Week – June 23–29, WC2N 5DU, London

2019 SoCal Cannabis Summit – June 24-25, Fantasy Springs Resort Casino, Indio, Coachella Valley, California

NJ Cannabis Insider Meetup – June 26, JJ Bitting Brewing Co., 33 Main St. Woodbridge, New Jersey

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Posted-In: Cannabis Government News Regulations Dividends Previews Markets Trading Ideas Best of Benzinga

 

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