Welcome to the Cannabis Countdown. In This Week’s Edition, We Recap and Countdown the Top 10 Marijuana and Psychedelics Industry News Stories for the Week of December 14th – 20th, 2020.
Without further ado, let’s get started.
* Yahoo Finance readers, please click here to view the full article.
10. Aphria and Tilray to Merge Creating World’s Largest Cannabis Company
Following the Merger’s Close, the New Combined Company Will Operate Under the Tilray Name With Offices in New York, Seattle, Toronto, Vancouver Island, Leamington, Germany and Portugal
After Several Days of Speculation, Aphria APHA and Tilray TLRY officially announced the two Top Canadian Licensed Producers (LPs) have signed a definitive agreement to merge. The mega-merger would create the world’s largest cannabis operator based on pro-forma revenue, with the combined company having a pro forma equity value of CDN $5 billion.
9. City of Oakland Urges California to Decriminalize Psychedelics and Allow Healing Ceremonies
The Vote is a Product of Activist-Led Efforts By the Group Decriminalize Nature, Which Has Been Pushing Local Legislators to Expand Upon the City’s Current Decriminalization Policy That Was Enacted Last Year
The Oakland City Council on Tuesday unanimously approved a resolution that calls on California state lawmakers to enact policies decriminalizing a wide range of Psychedelics and allowing local jurisdictions to permit healing ceremonies where people could use entheogenic substances.
READ FULL CALIFORNIA PSYCHEDELICS ARTICLE
8. Red White & Bloom Breaks Out Following Back to Back Blockbuster News Releases
RWB Made Major Headlines on Thursday Following the Release of Back to Back Blockbuster Press Releases
First, Red White & Bloom RWBYF announced the company inked a deal to acquire a 23,572 sq ft active Illinois cultivation and manufacturing operation, along with medical and adult-use THC licenses and the associated inventory and real estate assets, including 2 acres of land. RWB followed up the Illinois news by dropping a second game-changing press release informing investors that the company signed a USD $60 million non-dilutive credit facility term sheet.
READ FULL RED WHITE & BLOOM ARTICLE
7. Snoop Dogg’s Casa Verde Capital Closes on $100 Million as the Cannabis Industry Bounces Back
The Fund’s Managing Director Karan Wadhera Has Managed to Raise More Cash Just as the Market for Cannabis-Related Products Seems Poised for Another Period of Expansion
Casa Verde Capital, the investment fund co-founded by Cannabis connoisseur Snoop Dogg (also known as Calvin Broadus), has closed on $100 million for its second investment fund, according to documents filed with the SEC.
6. Psilocybin Among Psychedelics Aiding Psych Research
They Aren’t Called “Magic” Mushrooms For Nothing
The restorative and healing properties of Magic Mushrooms have been recognized for thousands of years, and the Psilocybin found in more than 200 kinds of fungi looks to be the next big thing in functional food.
5. Rand Paul Files Bill to Increase Hemp THC Limit and Address Other Industry Concerns
Sen. Rand Paul (R-KY) Has Introduced a Bill That Would Triple the Concentration of THC That Can Be in Legal Hemp Plants and Address Multiple Other Concerns the Industry Has Expressed About Proposed Federal Hemp Regulations
Hemp and its derivatives were legalized under the 2018 Farm Bill, and the U.S. Department of Agriculture (USDA) quickly got to work developing rules for the market. But industry stakeholders have strongly protested certain restrictive regulations that they say could inhibit the sector’s growth.
4. MindMed Announces Successful Completion of Pre-IND Meeting with the FDA for Project Lucy
Based on Positive Pre-IND Meeting With FDA, MindMed is Now Prepared to Open an Investigational New Drug (IND) in August 2021 With a Phase 2B Clinical Trial for LSD Assisted Therapy in Anxiety
MindMed MMEDF announced the successful completion of a pre-IND (Investigational New Drug) meeting with the U.S. FDA regarding the development of LSD assisted therapy for an anxiety disorder. MindMed also provided a clinical development update on 18-MC announcing the firm continues to dose escalation of 18-MC in Phase I SAD/MAD and has confirmed a meeting with the FDA.
3. Senate Approves Marijuana Research Bill Similar to House Measure
The Question Now Becomes Whether the Two Chambers Can Reconcile the Pair of Bills and Approve a Final Version Before the Current Congressional Session Ends January 3rd
A bipartisan bill in the U.S. Senate to expand Marijuana and CBD research was approved by the upper chamber on a unanimous voice vote, less than a week after the House of Representatives passed its own MJ research legislation.
READ FULL MARIJUANA RESEARCH ARTICLE
2. What Psychedelics Taught Me About Healing Trauma
It’s Said That Science Progresses “One Gravestone at a Time,” Since Major Changes in Theoretical Perspective Usually Require a New Generation or More to Take Hold
Psychiatry, in contrast, is in the midst of a massive shift: We’re experiencing a veritable Psychedelic revolution, as drugs like MDMA, Psilocybin and Ketamine offer new hope for treating severe mental anguish.
READ FULL PSYCHEDELICS ARTICLE
1. New Jersey State Legislature Approves Bill That Will Decriminalize, Legalize Adult-Use Cannabis
The Measure Now Heads to Gov. Phil Murphy, Who is Expected to Sign the Legislation
Recreational adult-use Marijuana is just a signature away from becoming legal in New Jersey after both houses of the state legislature passed legislation on Thursday to decriminalize and legalize the industry.
Photo by Esteban Lopez on Unsplash
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Click on the image for more info.
Cannabis rescheduling seems to be right around the corner
Want to understand what this means for the future of the industry?
Hear directly for top executives, investors and policymakers at the Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9.
Get your tickets now before prices surge by following this link.