WeedLife News Network

Hot off the press cannabis, marijuana, cbd and hemp news from around the world on the WeedLife News Network.

NY weighs giving pizza joints, other eateries OK to sell cannabis-infused food

This could give new meaning to Big Apple pizza joints.

New York State officials are weighing whether to allow pizzerias and other eateries to sell fresh cannabis-infused grub and packaged pot edibles, The Post has learned.

Aaron Ghitelman, a spokesman for the state Office of Cannabis Management, confirmed there have been discussions about awarding such licenses to food preparers — raising the possibility of offerings such as pesto pot pizza or pepperoni with sweet weed sauce.

However, “the regulations regarding infused food products have not been released yet,” Ghitelman stressed.

Cannabis grower shares tips on how to obtain cannabis business license

Before recreational cannabis was legal, there were only 35 licensed marijuana retailers across New Mexico.

According to the state's cannabis control division, that number now stands at 125.

With the state of New Mexico not limiting the number of retailers who can open up cannabis dispensaries, there's an influx of people applying for and obtaining cannabis business licenses.

The state's Cannabis Control Division has an online map that shows where people have applied for their cannabis business licenses and how far along they are in the process.

Chad Lozano is the lead grower with Gnarly Farmers.

Lozano said the first step in the application process is figuring out what license you want to apply for.

Minority cannabis business owners sought for CEO training program

A partnership between one of the largest multi-state cannabis companies and Black CannaBusiness Magazine kicking off in Boston this week aims to accelerate the growth of high-potential businesses in the cannabis industry by offering free training to CEOs of color.

The Black CannaBusiness CEO Intensive Program, run by Black CannaBusiness Magazine and New England Treatment Access parent company Parallel, couples a six-week online program with a two-day in-person session to provide chief executives with training and resources related to marketing and sales, risk management, customer experience, finance, products, and executive leadership.

New Jersey launches recreational marijuana sales following voter approval

Well over a year after voters said yes to legal weed, New Jersey is finally about to start getting high on its own supply.

State residents 21 and older can lawfully buy marijuana starting on Thursday, after a decade-long effort by advocates to legalize recreational use and end years of racially unbalanced criminal prosecution.

Dispensaries are expecting big crowds on Thursday, a day after the unofficial marijuana holiday known as 4/20. In Paterson and Bloomfield, dispensaries operated by Green Thumb Industries will open at 6 a.m., Chief Executive Ben Kovler said.

"We see it as the end of Prohibition 2.0," he said.

Cannabis goes to the metaverse, creating new opportunities and business questions

 

 

Following in the footsteps of Californians, Coloradoans, Arizonans, and Bay Staters, denizens of the Metaverse can now step inside a cannabis dispensary and purchase cannabis products.

Two cannabis brands have staked claims to their own Metaverse storefronts, where they will sell products to real life addresses in all 50 US States. Higher Life CBD and Kandy Girl each have acquired a property in the Metaverse (in Cryptovoxels and Decentraland, respectively), where they are accepting customers interested in purchasing both digital items (like NFTs and Metaverse wearables) and real-life cannabis products.

Mike Tyson was headed for expensive weed conference before airplane attack

 

Al Pacino’s Scarface sagely advised drug dealers never to get high on their own supply. But we wonder if Mike Tyson would actually be in less trouble if he’s toked a little of his own weed line before boarding his flight.

The heavyweight legend reportedly lost his temper with an overexcited (and possibly overserved) fan before takeoff on his flight from San Francisco to Miami on Thursday — and seemingly punched the guy several times, leaving the his head bloodied.

But The Post hears that news of the incident harshed the collective mellow at the Benzinga Cannabis Conference, because “Iron Mike” was supposed to be the main speaker at a $3000-a-ticket reception on Thursday night.

Will Cresco Labs become a cannabis powerhouse with this deal?

Does 'the bigger the better' hold true with pot stocks?

Mergers and acquisitions are pretty common in a growing industry. We have seen quite a lot of consolidation in the cannabis industry both in Canada and the U.S. With the boom in the U.S. state cannabis markets, the multi-state operators (MSOs) are expanding aggressively.

Recently, Illinois-based Cresco Labs ( CRLBF -0.72% ) reported outstanding quarterly results, wherein both revenue and earnings before interest, tax, depreciation, and amortization (EBITDA) grew at a double-digit rate. But more exciting was the mega-merger announcement made soon after the earnings.

Curaleaf expands product offerings with launch of BlueKudu chocolates in Florida

BlueKudu's artisanal infused chocolates will be available at all 45 Curaleaf locations statewide

Curaleaf Holdings, Inc. (CSE: CURA /OTCQX: CURLF) ("Curaleaf" or the "Company"), a leading international provider of consumer products in cannabis, today announced the launch of BlueKudu infused chocolates at all 45 Curaleaf locations in Florida. Acquired by Curaleaf in 2020, BlueKudu was founded in Colorado as one of the state's original and most experienced edible manufacturers known for utilizing culinary experts to create artisanal cannabis products. The expansion marks BlueKudu's first launch outside of Colorado and Curaleaf's entrance into Florida's infused chocolate category.

New York's marijuana rollout inches along as New Jersey starts sales

 

Regulators' plan for a cannabis market that benefits communities that suffered from criminalization is taking longer to set up

Moke Mokotoff, the 72-year-old behind a Columbia County hemp farm newly licensed to grow marijuana for recreational use this summer, is hurriedly preparing to cultivate for New York's first legal recreational sales next winter, even as dispensaries in neighboring New Jersey prepare to make their first adult-use cannabis sales on Thursday. 

U.S. purchase helps Bast Fibre Technologies expand hemp-based product offerings

 Bast Fibre Technologies Inc. (BFT), a manufacturer of premium natural fibres located in the Vancouver Island Tech Park, completed its purchase of Lumberton Cellulose LLC in North Carolina from Georgia-Pacific in February and has changed its name to BFT Lumberton.

The acquisition of the state-of-the-art manufacturing facility enables BFT to significantly expand capacity to over 30,000 tonnes per year, while establishing BFT Lumberton as one of the largest fully-integrated natural fibre processing parks in North America.

Bedmaker becomes the UK’s largest hemp grower

Fifth-generation family bedmaker Harrison Spinks has confirmed its expansion into new North Yorkshire farmland to support its growth and sustainability plans, which will increase the company’s hemp production.

The new Ryther-based farmland spans 80 acres and will be used to increase the company’s production of industrial hemp. The increase in hemp production will see the company producing in excess of 1000 tonnes of hemp straw annually, making Harrison Spinks the largest grower of industrial hemp in the UK.

Hemp fibre, a key component of the company’s mattresses, is one of the strongest natural fibres – it is used in Harrison Spinks’ fillings and is known for its fresh and absorbent properties.

Delta 9 Cannabis Inc. short interest down 25.0% in March

Delta 9 Cannabis Inc. was the target of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 1,500 shares, a drop of 25.0% from the March 15th total of 2,000 shares. Based on an average trading volume of 24,700 shares, the days-to-cover ratio is presently 0.1 days.

Shares of DLTNF traded down $0.01 during trading hours on Monday, reaching $0.25. 35,300 shares of the stock traded hands, compared to its average volume of 13,241. The company’s 50-day moving average price is $0.23 and its two-hundred day moving average price is $0.26. Delta 9 Cannabis has a 52-week low of $0.20 and a 52-week high of $0.49.

Crypto tokens give cannabis fund a shortcut to raising capital

Since cannabis remains illegal in much of the world, raising investment can be tricky. This week, guest writer Ken Parks takes a look at how one Luxembourg-based company with operations in Latin America is looking at a new method to solve this problem. 

Using blockchain in a quest for growth

A fund that invests in Latin American cannabis companies is planning to use a novel way of raising cash to expand, with a sale of a type of crypto asset known as security tokens to private investors.

Top marijuana stocks to buy? 3 cannabis companies to watch right now

 

Are These Marijuana Stocks Now Long-Term Investments?

Which marijuana stocks will people invest in this week?. As New Jersey and New York start the sale of legal cannabis will the sector see some upward momentum? Some feel there is a chance on that day some marijuana stocks with businesses in the state could possibly see better trading. Mainly MSO marijuana stocks have the ability to set up operations in other legal markets. Still, the cannabis industry is currently waiting for Chuck Schumer to present his bill.

Unions pushing to organize as CT cannabis industry expands

 

Connecticut’s adult-use cannabis law requires cannabis establishments to enter into so-called labor peace agreements as a condition of getting a final license. That means unions have an easier task of organizing because the companies remain neutral.

In exchange for employers not interfering with organizing campaigns, workers agree not to engage in strikes, protests, or other work stoppages.

“That doesn’t ensure unionization,” said Mark Espinosa, president of United Food and Commercial Workers Local 919, which represents about 7,000 retail employees in Connecticut.

“That just give us the ability to go in there and talk to employees.”

The Illinois cannabis market is showing zero signs of slowing down

Although United States (US) cannabis companies have been under pressure so far this year, we believe the market is in the early innings of hyper-growth cycle and are of the opinion that many operators (large and small) are undervalued. (Click here for article)

Since 2020, several states have legalized recreational cannabis and we have been impressed by the growth of these markets. We consider Illinois and Michigan to be burgeoning recreational cannabis markets and are bullish on the long-term potential that is associated with the two midwestern states. 

Private businesses may not benefit much from the new recreational cannabis industry

 

Recreational marijuana is said to bring in millions of revenue for the state, but that does not mean every business will benefit from the new industry.

According to the state of New Mexico, the industry will bring in $50 million in state revenue.

State leaders say that it will be used for state programs such as housing, food insecurity, and economic development.

A local economics professor at New Mexico State University says that the private economy such as restaurants and movie theaters may not see a big boost.

"The reason for that is that marijuana is a recreational drug, people buy it for recreational purposes. That recreational usage means that they're not engaging in some sort of other recreational activity," said Erickson. "

Amazon says New York union organizers gave workers weed to help secure unionization votes

Amazon has claimed that New York union organizers handed out marijuana to workers in a bid to secure unionization votes.

The objection was one of several made by the ecommerce giant Friday as it seeks to overturn a vote that created the first union in the company's history.

On April 1, the National Labor Relations Board said a majority of workers at the JFK8 warehouse in Staten Island, New York, had voted to join the Amazon Labor Union (ALU). Amazon is challenging the vote and has claimed that the ALU and the NLRB suppressed voter turnout.

In a filing Friday, Amazon questioned the methods used by the ALU to win unionization votes, according to multiple reports. Insider was unable to obtain the filing.

American cannabis consumers eye opportunities presented by legal marijuana in Germany

Germany’s impending legalization of recreational marijuana offers attractive new opportunities for travel, trade and investment, according to a recent survey of American cannabis consumers. The survey from medical marijuana holding company Bloomwell Group found that eight out of 10 Americans believe that “cannabis companies are attractive investment options,” while 61% said that they “would invest in European cannabis stocks.”

Ohio regulators want 73 new medical marijuana dispensary licenses to address demand, more double current number

Ohio medical marijuana regulators want to double the number of dispensary licenses in the state to satisfy patient demand, which has been much higher than anticipated since the program became operational.

Currently, there are 58 dispensaries throughout Ohio.

Ohio Board of Pharmacy staff are working on adding 73 new dispensary licenses, said Justin Sheridan, the board’s director of medical marijuana operations, at a Thursday cannabis discussion at Ohio State University’s Moritz College of Law.

That could bring the total number of dispensaries in Ohio to 131 or 132 – depending on the outcome of a court case that could create a 59th dispensary from the first round of dispensary licenses.


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