Hi all,

If you’re playing in New York, you don’t want to miss Jackie Bryant’s interview with consultant Kaelan Castetter. He brings a long family history to his deep understanding of the east coast mega-market.

On Friday’s episode, Jackie will be chatting with Jesus Burrola, CEO of outdoor grower Posibl. WeedWeek Pro members can join the conversation in our Discord community.

In today’s newsletter:

• Ascend sues MedMen
• Calif. Gov. Newsom appears to support tax relief

And lots more. Enjoy,

Alex

alex@weedweek.com

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California Gov. Gavin Newsom (D) has signaled support for unspecified reform as the state’s craft industry says high taxes have pushed small businesses to “the brink of collapse.“
MJBiz, NBC

• It’s not clear how Newsom proposes to support businesses hammered by taxes, wildfire, burglaries, oversupply and a host of other problems. 
• One of Newsom’s allies said the most likely tax to go would be the  state’s cultivation tax which went up Jan. 1 and can amount to half the wholesale price of a Humboldt- grown pound.  
• Lindsay Robinson, executive director of the California Cannabis Industry Association, said there’s “reason for us to be optimistic. But…it’s not a done deal by any means.”

In the meantime, the AP reports, some licensed businesses in the state survive by selling on the illegal market.

• “We basically subsidize our white market with our black market,” an unnamed grower said. 
• “The furtive illegal sales happen informally, often with a friend within the tight-knit cannabis community calling to make a buy.” The story calls the state’s tracking system “far from airtight.”
• “To have this system that now appears to be failing,” Kristi Knoblich Palmer, co-founder of edibles brand Kiva said, “Does not help us get to our goal of professionalizing cannabis and normalizing cannabis.”

California’s legal market does more than $4B in annual sales. The illegal market is said to be at least twice as large.

Read the whole story.

Federal:

• Federal and state officials are discussing on national standards for pot products.
  Marijuana Moment

Business:

• Reuters has five cannabiz trends to watch in 2022.
• New Cannabis Ventures looks at an improving trend for investors.
• MJBiz founder Cassandra Farrington discussed the company’s recent acquisition on an MJBiz podcast.
• The Wall Street Journal sees self-care inspired cannabis use as a rising trend.
• In New England, Grown In reports, banking restrictions hit small businesses.
• MJBrand Insights talks to JourneyOne investor Helene Servillon.
• ADCANN announced the winners of its 2021 awards for cannabis marketing.

States:

• Roughly half of New York state cities opted out of allowing dispensaries.
  MJBiz
• Colorado set a new record for annual pot taxes.
  @CO_Revenue
• Chicago stores are exploiting a loophole to sell THC-O products. The minor cannabinoid is said to have psychedelic effects.
  Chicago Sun-Times
• South Dakota Governor Kristi Noem wants legalization activists to pay the legal fees for the state’s successful lawsuit to overturn the voter-passed REC initiative.
  Marijuana Moment 

Equity:

• Though California was supposed to clear them, tens of thousands of cannabis convictions remain in place.  
  L.A. Times
• Samuel L. Jackson is narrating a new docuseries on the drug war called “The Fix.”
  RealScreen
• Former WeedWeek California editor Donnell Alexander discussed his forthcoming series of articles on equity on the Cannabis Law Report‘s podcast.   

Fun and interesting:

• Hood Collective highlights the top five cannabis chefs working today.
• The New Yorker checks out Ondalinda, “Burning Man’s more exclusive cousin.“

• Scientist and physician Ethan Russo has joined Canurta, a branch of pharma company CReDO Science, as senior medical advisor.
• Merida Capital senior partner Jeffrey Monat joined the board at Lowell Farms. 
• David Kram joined value brand Pacific Stone as director of global strategy.
• Ted Thompson, SVP public policy at the Michael J. Fox Foundation, has joined the board of the Council for Federal Cannabis Regulation. 
• Abraham Villegas joined MSO Cresco Labs as senior manager, marketplaces. 

• California-based brand Old Pal licensed to YourWay in Arizona. 
• MSO Audacious completed its acquisition of infused drink shot Lo͞oS.
• Delivery app Eaze has opened its first two stores in San Diego and Santa Ana.
• Canada-based High Tide said it would acquire Bud Room, maker of a retail technology called Fastendr. 
• Sweet Flower, a pot shop known for its celebrity clientele is opening a flagship store in Culver City, Calif.
  Variety
• The University of Denver is starting three non-credit cannabis certificate programs in partnership with (WeedWeek advertiser) Green Flower Media.
• Canadian company Tilray acquired two California craft breweries for $5.1M in cash and stock. 
  Benzinga
• California distributor C4 Distribution is shutting down, Business Insider reports.

• Whiskey brand WhistlePig released an alcohol-free drink for Dry January.
  AdWeek
• Infused beverage brand Cann released a “lite” drink with 10 calories, 2 mg THC and 4 mg CBD per 8 oz can.
• Zero Two Four designed candles to reduce odors and stigmas.
  Thrillist
• Lindsay MaHarry shared some of her favorite new products for 2022.

• Cookies founder and rapper Berner got married.
• The Cannabinoid Research Institute gets annoyed when some brands use ebonics in their marketing.
• @blackdragonbreakfastclub shares how to recover from a party foul.
• Marketer Ryan Wilson announced the launch of a cannabis cruise in the Mediterranean. The ship is to have 25 coffeeshops on board. He said Genehtik is an investor.

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