WeedLife News Network

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

NBA players union inks deal with Al Harrington’s CBD company

 

Re+Play products, created in partnership with Toronto-based company Avicanna, will also be sold at Walmart and Amazon.

The National Basketball Players Association (NBPA) has announced a multi-year partnership with Re+Play, the performance-based wellness and recovery line founded by former player Al Harrington.

The deal makes Re+Play an official partner of the NBPA, alongside strategic partners Walmart and Amazon.

The first product release is scheduled to be a line of recovery creams, developed in partnership with the Toronto-based biopharma company, Avicanna.

Charlotte's Web enters employee health benefits channel in partnership with SBM, LLC.

Launching Hemp CBD Wellness Benefits is an Industry First

Charlotte's Web Holdings, Inc. ("Charlotte's Web," "CW" or the "Company"), the market leader in full-spectrum hemp extract CBD products, is the first company to achieve formulary approval and inclusion of its products in SBM LLC's exclusive employee benefits program. Through this employer-sponsored benefit plan, US employers can now confidently provide employees and their pets with coverage and access to Charlotte's Web products as an alternative health and wellness therapy. 

Trump hater Snoop Dogg endorses ‘Sleepy Joe OG’ cannabis bags

The man who made “indo” a household word thought these weed pouches were hysterical enough to share with millions of his fellow stoners

Cannabis connoisseur Snoop Dogg sure seemed to hate Donald Trump during his administration, but he just embraced one of the former president’s most famous attack lines against current POTUS Joe Biden.

The Long Beach rapper, actor, and entrepreneur used his Instagram feed on Sunday to endorse a “Sleepy Joe OG” cannabis bag. It’s decorated with Ukrainian, Chinese and Russian flags, and copy boasts, “You won’t even remember what country you are in!”

The tagline for the fake Cannabis brand reads: “Where am I?”

ExpendaFarms: A different kind of celebrity cannabis brand

Santa Cruz-based ExpendaFarms is redefining what it means to be a celebrity cannabis brand.

Colorado Gov. announces 16 recipients of cannabis business grant

The Colorado grant program is designed “to save small businesses money, foster equity and diversity in the cannabis industry, and create good-paying jobs for Coloradans.”

Colorado Gov. Jared Polis last week announced the first businesses to receive funding through the state’s Cannabis Business Pilot Grant.

A total of 16 aspiring cannabis retailers received the grants through a program that seeks “to save small businesses money, foster equity and diversity in the cannabis industry, and create good-paying jobs for Coloradans.”

Hygrovest continues to diversify its investment portfolio as cannabis sector underperforms

The company holds A$6 million of cash that will allow it to continue to diversify away from the underperforming cannabis sector.

Hygrovest Ltd (ASX:HGV) achieved some of its goals to diversify its investment portfolio, reduce its exposure to the cannabis sector and ultimately, reduce the difference between the share price and NAV, during the financial year ended June 30, 2022.

Some of HGV’s activities during the year included:

High Tide subsidiary Blessed CBD launches sales of hemp-derived CBD products on Amazon UK

 

High Tide Inc. ("High Tide" or the "Company") (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA), a leading retail-focused cannabis company with bricks-and-mortar as well as global e-commerce assets, announced today that its subsidiary, Blessed CBD ("Blessed"), has begun sales of its premium hemp-derived CBD products on Amazon in the United Kingdom ("Amazon UK"). A range of Blessed CBD products, including gummies, capsules, and balms are now available on Amazon UK, and the remaining Blessed CBD products will be listed in the coming days. All Blessed products qualify for next-day delivery through Amazon Prime. Blessed also intends to list any future SKUs that it may add to its product lineup on the Amazon UK platform.

New York takes the grow plunge with outdoor grows upstate

New York is off to a strong start with their recreational market, as certain hemp growers got the green light to start their outdoor growing.

New York is finally kicking off their recreational cannabis sales, after years of back-and-forth and push back against antiquated and racist drug laws. Now, the industry is up and running with some of the first 203 hemp growers given recreational licenses starting up their grows. And plot twist: the first of these are outdoors. 

Not exactly what you’d expect for New York, but weather-wise, it’s prime season. The indoor growers are expected to join in soon, but for now growers like Frank Popolizio of Homestead Farms and Ranch are getting started with their outdoor crops. 

Banks shying away from the cannabis trade

Fluence CEO and a leading lobbyist call for Congress to finally pass federal SAFE legislation that would put financial institutions more at ease with lending in the cannabis sector.

Cannabis lighting firms take note: As rapidly as the legal marijuana industry is growing, it is held back in the U.S. by a lack of federal action that would allow tens of thousands of firms to access banking services.

That view came across loud and clear in a recent installment of Fluence Unfiltered, an online video series in which David Cohen, CEO of cannabis lighting vendor Fluence, interviews a leading industry figure.

How would the marijuana industry handle a possible recession?

Even if the economy in general takes a dip, marijuana is just beginning to test the waters in many states.

A year ago, there were only whispers of a recession. Now it is starting to dominate conversations, and it has companies and citizens worried about the months to come.

A recession is not at all certain, but experts are saying the likelihood is higher than it was before.

“The probability of a recession over the next 12 months is now 30%, the highest since 2020,” according to Bloomberg. This number, they said, is double the odds that were predicted just three months ago.

Montana pot sales see increase in June

 

Recreational and medical cannabis sales in Montana this year have reached nearly $150 million.

Recreational pot sales continue to soar in Big Sky Country, with Montana reporting a record high total last month.

The state’s Department of Revenue reported that adult-use cannabis sales in Montana totaled more than $17 million in the month of June—the highest figure since recreational pot sales began in January.

Between recreational and medical pot, Montana has generated nearly $150 million in combined cannabis sales this year. According to local news station NBC Montana, the combined recreational and medical sales have generated nearly $21 million in state taxes so far this year.

AE Global opens AE Global Boston office, continues to invest in cannabis packaging infrastructure in emerging markets

Leading CPG packaging company expands cannabis division to scale support in MA, NJ, PA, NY, RI, ME and CT

AE Global (AEG), a custom packaging design company and supply chain solutions provider headquartered in Miami, today announced the launch of a New England office, called AE Global North, to better serve the rapidly growing northeast cannabis markets.

MCOA Subsidiary cDistro signs Master Distribution with Mellow to distribute Dosist brand in Europe

Marijuana Company of America, Inc. (OTC:MCOA) ("the Company"), which operates, invests, and acquires companies exclusively in the cannabis sector; today announced that the Company's cDistro distribution operating entity has signed a Master Distribution agreement with multi-brand cannabis eCommerce and marketing company Mellow, a subsidiary of CBD of Denver, Inc. (OTC: CBDD), a cannabis roll-up company. The agreement covers the launch and distribution of dosist health's award-winning line of high-concentration CBD+ formulas & products and innovative delivery vape devices to the UK & Europe. Mellow will be doing this via its newly established Mellow Distribution division.

Have you heard about THC-P? We have the scoop!

Did you know that one of the most hyped up cannabinoids to hit the hemp market in recent years has been THC-P (tetrahydrocannabiphorol)?

Trust us when we say the hype around THC-P is thoroughly warranted.  This is potentially the most potent cannabinoid in all of the hemp plant, with a strength thought to be 33 times stronger than regular THC. Yes, 33 times stronger. However, because it’s so new, there is still a lot to learn about it.  

Marijuana Strategic Ventures, changes name to Mushrooms, new management and business model

Marijuana Strategic Ventures, Inc. has officially changed its name to Mushrooms, Inc., through the filing of amended and restated articles of incorporation with the Nevada Secretary of State. In addition to changing the company’s corporate name to Mushrooms, Inc., the company appointed a new CEO, Kimberly Carlson, focused on implementing a new business model based on functional mushrooms. With the appointment of Kimberly Carlson as CEO, the company’s former CEO, James Hancock, has been appointed the COO of the company. (Benzinga)

Cannabis leaders Kiva Confections and Jetty Extracts partner for limited edition collection of Lost Farm edibles

 

The Collaboration Features Two Unique Flavors of Strain-Specific, Plant-Based Gummies and Chews Featuring Jetty's 100% Live Resin

 Kiva Confections, California's market leader in premium, cannabis edibles, announced today a partnership with Jetty Extracts, a California-based producer of high-quality cannabis extracts, for a limited release of their popular Lost Farm Gummies and Chews. The partnership between the two veteran cannabis brands with over 20 years of collective operations will offer a dynamic collection of 100% live resin-infused edibles that are bursting with full-spectrum, strain-specific effects, and feature some of Jetty Extracts' most popular strains.

This is (probably) the most popular cannabis content creator in the world: Meet Dope As Yola

 

“I recently got deleted off Instagram, again. I had about 4.1 million followers. My Snapchat was number two in the country, not just for cannabis, but in general: It was Kylie Jenner, me and Cardi B. And then they deleted that also. But in terms of sheer numbers online, my watch time is roughly 70 million watch time minutes a month. So I get in a day what some of the biggest cannabis websites get in a month,” explains Thomas Araujo, better known as Dope As Yola, when asked what makes him (probably) the most popular cannabis content creator in the world.

California may require labels on pot products to warn of mental health risks

Liz Kirkaldie’s grandson was near the top of his class in high school and a talented jazz bassist when he started smoking pot. The more serious he got about music, the more serious he got about pot.

And the more serious he got about pot, the more paranoid, even psychotic, he became. He started hearing voices.

“They were going to kill him and there were people coming to eat his brain. Weird, weird stuff,” Kirkaldie said.

“I woke up one morning, and no Kory anywhere. Well, it turns out, he’d been running down Villa Lane here totally naked.”

Kory went to live with his grandmother for a couple of years in Napa, California. She thought maybe she could help. Now, she says that was naive.

Kory was diagnosed with schizophrenia. Kirkaldie blames the pot.

Is Aurora Cannabis too cheap to pass up right now?

 

Some analysts have become more optimistic about the stock.

Aurora Cannabis (ACB -5.10%) is one of the most beaten-down cannabis stocks in the entire industry. Investors will recall that back in 2018, Aurora announced it was acquiring medical marijuana company MedReleaf for more than $2.5 billion in what at the time was the sector's largest deal. Today, Aurora is worth about one-fifth of that value, with a market cap of over $400 million.

Marijuana lounges could soon open in this state

The Nevada Cannabis Compliance Board approved the sale of cannabis consumption lounges on Tuesday.

Marijuana lounges could open in Nevada as soon as this year. These locations would allow adults over the age of 21 to openly use marijuana products in a social setting.

These news was shared by the state’s Cannabis Compliance Board on Tuesday:

“Today, the Nevada Cannabis Compliance Board (CCB) voted unanimously to approve regulations surrounding the licensing and operation of cannabis consumption lounges,” reads the opening statement.


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