Hi all,

CannaCon is coming to Long Beach this weekend. I don’t plan to walk the floor. But since I live here, drop me a line about any fun after-parties, brunches etc.

In the newsletter:

• EXCLUSIVE: With Cookies, Entourage Effect Cap. targets MSOs
• Judge rules against Calif. regulator in burner distro case

Read up,

Alex

*

Advertise in WeedWeek

Our advertising policy.

*

Send tips, press releases, concerns, feedback and criticism to hello@weedweek.com

*

WeedWeek regularly links to paywalled content.

Cannabis investor Entourage Effect Capital aims to overhaul Cookies’ business model, according to a 34-page pitch deck filed in court. The deck argues that Cookies’ new direction will enable it to compete with MSOs in key states.

Here’s the plan

FOLLOW WeedWeek‘s new job board and be first to hear about great opportunities at top companies.

• 📏Regulatory compliance associate, PharmaCann – Chicago
• 🤠Account Executive, Managed Media, Fyllo – Austin, Texas
• 🧮️Accounting Manager, Leaflink – New York City

And so many more!

*

HIRING? Find top prospects in our talent pool! 

TALENTED? Get in front of top companies FREE!

A panel of California appeals judges voted 3-0 to reverse a lower court decision that threw out a retailer’s lawsuit alleging the state regulator has ignored widespread diversion to the illegal market. 

The ruling enables dispensary chain Catalyst to pursue its lawsuit against California regulators.

Read the story

Federal:

• An FDA lawyer now lobbying for MSO Columbia Care predicted cannabis would be re-scheduled this year or next. The industry would rather see it de-scheduled, like alcohol and tobacco. The lawyer, Howard Sklamberg, doesn’t give much credence to industry fears that re-scheduling would lead to a takeover by Big Pharma. (Neither do I, FWIW.) 
  Green Market Report
• Sen. Majority Leader Chuck Schumer (D-N.Y.) said the Senate is “making good progress” on the SAFE banking bill.
  Banking Dive

Business:

• To mitigate industry-hated tax rule 280(e) more smaller businesses are turning to controversial loophole 471(c).
  MJBiz
• Sales picked up in June.
  New Cannabis Ventures/BDSA
• MSOs Cresco Labs and Columbia Care called off their $2B merger.
  CNBC
• MSO Story Cannabis acquired four stores in Arizona.
  AZ Marijuana
• E-cigarette maker Juul wants to raise $1B.
  Bloomberg
• The WSJ discusses hop latent viroid (HLVd), the industry’s “billion dollar threat.“
• A group of hemp product makers are suing Arkansas over the state’s ban of hemp-derived THC products.
  Arkansas Online

State and local:

• A New York bill would ban pot smoking in public.
  Canna Law Blog
• In Fat Nugs magazine, Nigel Despinasse goes deep on Oregon’s “Moldgate” crisis.
• The South Florida Sun-Sentinel editorialized that the state is wrong to fight a 2024 REC ballot initiative.  
• In Michigan, a federal judge threw out a testing lab’s lawsuit against the state on grounds that marijuana is federally illegal.
  MLive
• The New Mexico regulator cracked down on another store it said is selling out of state products.
  KRQE
• A Headset report found that Illinois has some of the country’s most expensive weed.
• A South Dakota man launched a “long shot” effort to re-prohibit MED.
  MJBiz

Equity:

• Longtime activist and exec Kris Krane argues lack of banking access is killing equity businesses.
  Forbes

Health and science:

• A study commissioned by platform CBD Oracle found a quarter of “hemp-derived” D9-THC products were made from marijuana. 
• A UC San Diego study found field sobriety tests may be insufficient for determining THC impairment.
  KUSI
• CNN‘s Dr. Sanjay Gupta returns to the weed beat when he talks to Sue Taylor of Mama Sue Wellness about cannabis and seniors.

Crime:

• The N.Y. Times reports on Oregon’s experiment with decriminalizing fentanyl and other “hard” drugs.  

Fun and interesting:

• Longtime reform advocate Jesse Ventura is the latest former pro wrestler, but perhaps the first former governor, to want his own brand.
  Fox
• Dallas Cowboys owner Jerry Jones seems OK with legal weed.
  Sports Illustrated
• Tangentially weed related, my friend Saul Austerlitz has a new book out: “Kind of a Big Deal: How Anchorman stayed classy and became the most iconic comedy of the twenty-first century.“

State:

• MED patients feel ignored by the California REC market, CalMatters reports.

Business:

• Vertical operator Statehouse said it had entered an agreement with lender Pelorus Equity Group to extend the repayment on its Series A loan agreement until 2027.
• SCOOP: Dovel & Luner the law firm suing California brands for “systematic potency inflation” received a favorable ruling in its case against Lowell Farms. It follows a favorable July ruling in its similar case against Statehouse’s KingRoll brand.
  WeedWeek
• Glass House reports results on August 14.

Local:

• On its sixth birthday, LA’s Department of Cannabis Regulation shared some stats about the country’s largest regulated metro market.
• Taking a tougher tone, Santa Barbara Co. officials said a proposed grow needed to add carbon scrubbers to abate odors.
  Coastal View
• A new lawsuit alleges sheriff’s deputies trespassed on a Native American reservation in Mendocino Co. last year, when they destroyed a $100,000+ crop.
  SF Gate
• Shops could open in Ventura (city) as soon as September.
  ABC
• Riverside Co. supes nixed a proposed Stiiizy shop over traffic concerns.
  Press-Enterprise
• Residents of Fresno’s Pinedale neighborhood are pushing back against a new pot shop.
  YourCentralValley.com
• Laguna Woods could be a rare Orange Co. town to open up to retail.
  Patch
• Cannabis Now checks out LA’s celebrity party scene.

Company milestones:

• Leef Brands signed a purchase agreement to acquire a 1,900 acre ranch in Santa Barbara Co., where it intends to become a large scale grower.
• Petalfast partnered with vape brand Matu in Massachusetts.
• 420Property launched a new online marketplace.

Recognition:

• North Coast Journal named its Best of Cannabis award winners.
• The L.A. Times named its five favorite infused beverages for summer.

Community:

• Stiiizy donated $294,000 to Pomona (LA Co.) parks and schools. Last year Stiiizy donated $207,000 to the city. The donations are part of a promise Stiiizy made during the local licensing process.
  Daily Bulletin  
• The LA Times has a new newsletter for plant (all plant) lovers.
• The boss of Palms prerolls was seen distributing them to striking writers and actors.
  LA Magazine

Upcoming:

• Once again, SF’s Outside Lands music festival will have its Grass Lands area, August 11-13.
  SF Standard
• There’s a Transbay Challenge V qualifier tomorrow in LA.
• Women of Cannabis San Diego have a meet up August 19.
• @puffdao is hosting a Night Market party August 19 in Hollywood.