January 17 2022,
THE BIG IDEA
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.
In today’s newsletter:
- Ascend sues MedMen
- Calif. Gov. Newsom appears to support tax relief
And lots more. Enjoy,
WeedWeek regularly links to paywalled content.
Calif. Gov. Newsom says he supports tax relief
- 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.
- Federal and state officials are discussing on national standards for pot products.
- 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.
- Roughly half of New York state cities opted out of allowing dispensaries.
- Colorado set a new record for annual pot taxes.
- Chicago stores are exploiting a loophole to sell THC-O products. The minor cannabinoid is said to have psychedelic effects.
- 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.
- Though California was supposed to clear them, tens of thousands of cannabis convictions remain in place.
- Samuel L. Jackson is narrating a new docuseries on the drug war called “The Fix.”
- Former WeedWeek California editor Donnell Alexander discussed his forthcoming series of articles on equity on the Cannabis Law Report‘s podcast.
Fun and interesting:
- 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.
- 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.
- California distributor C4 Distribution is shutting down, Business Insider reports.
- Whiskey brand WhistlePig released an alcohol-free drink for Dry January.
- 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.
- 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.
We hope WeedWeek High Society will return soon. Send your party pics to email@example.com
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