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• SCOOP: In expansion, Mammoth to distribute 710 Labs, Papa & Barkley

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SCOOP: In expansion, Mammoth to distribute 710 Labs, Papa & Barkley

Mammoth Distribution will start distributing high profile brands Papa & Barkley and 710 Labs. The deal, which WeedWeek is first to report, marks an expansion for the company which has previously only…

Read the story…

Green Market Report details a sprawling financial dispute between MSO Planet 13 — best known for its superstores — Snoop Dogg co-founded VC firm Casa Verde Capital, and Santa Barbara, Calif. investment firm El Capitan Advisors.

GMR reports:

According to the suit, “Planet 13 executives entered into a management agreement with El Capitan Advisors in 2021 largely at the urging of Casa Verde, and entrusted roughly $21 million to El Capitan.

Now Planet 13 claims in its case that El Capitan Advisors – which purported to have over $10 billion in assets under its management – was a “sham” that was “designed to allow Casa Verde to exit the fraudulent scheme with a golden parachute” by “looting $35 million from El Capitan before it collapsed” last year.

In addition to its $16.5 million plus damages, Planet 13 is asking a California court for a special-purpose receiver to run El Capitan until funds are returned to clients…

Casa Verde has denied wrongdoing in the case and has instead pointed the finger at El Capitan, saying that its firm has been “a victim of Andrew Nash’s alleged fraud.” Nash did not respond to requests for comment.

Read the whole thing…

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Separately, Casa Verde portfolio company Dutchie, an online menu provider which reached a $3.75B valuation in 2021, raised $100M at a $400M valuation. Reforming Retail suggests it’s among the “biggest erosions in shareholder history, particularly in retail tech.”

Federal:

• Clark Hill lawyer Robert Hoban discussed what rescheduling would mean with D.C. lobbyists Saphira Galoob and David Mangone of The Liaison Group.
• An administration official brushed off rumors of an imminent announcement on rescheduling.
  Marijuana Moment

Business:

• Texas liquor retailer Spec’s will start selling hemp-derived beverages.
  Austin American-Statesman
• The Hemp Industries Association urged a federal appeals court to uphold an Arkansas ruling to block a law banning intoxicating hemp-derived products.
  Law360
• Q1 revenue plunged for Hawthorne, the hydroponics company owned by Scotts MiracleGro.
  New Cannabis Ventures

Equity:

• A man pardoned for possession by President Biden said it’s “kinda bullshit.“
  @beardbrospharms
• As we celebrate the lunar new year, Christina Wong reminds us that cannabis originated in Asia.

State and local:

• A former Massachusetts attorney got two years for a bribery for license scheme. And state sales set a new record for the sixth year in a row.
  Law360, Boston.com
  
• Florida’s senate advanced a 30% REC potency cap. REC may be on the ballot in November.
  MJBiz
• New York regulators want to get serious about investigating operators’ true parties of interest. And complaints from license applicants are piling up.
  Green Market Report, NY Cannabis Insider
• Also, a New York judge rejected a claim that its licensing system discriminates against out of state residents.
  AP
• The South Carolina senate will hear MED debated.
  FITSNews
• The Cole Memo podcast listened to concerns from craft growers.
• Connecticut has a pot shortage while next door New York has a glut.
  AP
• Colorado’s tourism office is becoming less shy about you know what.
  Westword
• The push to legalize lives on in Kansas.
  Fox4KC
• Pennsylvania Gov. Josh Shapiro called for legalizing REC.
  SpotlightPA
• A New York Times essay discusses how Oregon became a hub for drug policy experiments.

Health and science:

• At the Cali Zoo in Colombia, zoo animals receive cannabis medicine.

Fun and interesting:

• The godfather of Sour Diesel returns to New York.
  Forbes

State:

• Cannabis Wire looked at the bills with momentum in the state legislature.
• Canna Law Blog argued that the state still isn’t trying to enforce the illegal market.
• At Gov. Newsom’s (D) request, a proposed bill would legalize psychedelic therapy.
  Santa Monica Daily Press

Business:

• Norman Yousif, owner of dispensary chain Off the Charts, apologized for his comments in a leaked video where he discussed stiffing “mom and pop” businesses. Yousif said the company pays its bills, though not always on time. He is pursuing legal action against the leaker, after the video bounced around social media.
  SFGate
• MJBiz has a deep dive into MedMen’s unpaid bills. The company shuttered two more NorCal stores.
  MJBiz
• DeltaBev has opened what it’s calling the world’s largest cannabis beverage manufacturing plant in the San Fernando Valley. Cann is its first manufacturing client.
  Food Engineering
• Stiiizy named Isaac Kim CFO (no relation to CEO James Kim.) WeedWeek has recently reported on several lawsuits faced by California’s biggest operator.
• Blüm Holdings, formerly Unrivaled, discussed its new focus on retail. It closed its last grow.
  Mugglehead

Local:

• CaliGrown, a dispensary denied a license, is taking the city of Chula Vista (San Diego Co.) to court for the third time. “It is plain the city considers itself to be above the law and above this court,” the plaintiff alleged in a court filing. “Despite already having been rebuked by the Court of Appeal…the city has continued to act with defiant impunity.”
  San Diego Union-Tribune
• A Humboldt grower agreed to pay $750 for violating water and wildlife regulations.
  The Mercury News
• Palm Springs may lower pot taxes or cap the number of stores as it looks to help pot shops.
  The Palm Springs Post
• West Hollywood’s first cannabis cafe — originally Lowell’s for you OG’s out there — reopened four years after closure.
  KTLA

Environment:

• UC Berkeley watershed scientists determined keeping farms in the licensed market is good for streams.
  Redheaded Blackbelt

Crime:

• “Another win for the good guys.” @catalyst_ceo says ramming stolen cars into burglary targets is the new normal in LA.

Company milestones:

• Blink-182 drummer Travis Barker announced a new California brand in partnership with MSO Tilt Holdings.
• San Diego marketer Ruthie Edelson shared a billboard campaign she art directed.
• Seth Rogen’s brand Houseplant has a new non-infused coffee partnership.
  StupidDope
• The Mary Jones brand is partnering with Tilray to bring its infused sodas to Canada.

Job moves:

• John Pérez, chair of the UC Board of Regents, and former speaker of the state assembly, resigned from the Glass House board three months after his appointment, citing additional commitments to his employer.

Upcoming:

• Hall of Flowers lands at the Ventura Co. Fairgrounds March 13 & 14.
• High Times announced the return of the SoCal Cannabis Cup, People’s Choice Edition.
• The Emerald Cup announced the judges for the May awards.