Hi all,

A little late today so let’s get to it.

In the newsletter:

• SCOOP: Stiiizy contributed $40k+ to lawmakers ahead of key vote

Read up,

Alex

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STIIIZY contributed $40K+ to lawmakers before key committee vote

In the week before a key state committee vote last summer, Stiiizy contributed more than $40,000 to California state legislators, including 11 of the 13 members of the state senate’s committee for business, professions and economic development. On July 3, the committee voted in Stiiizy’s preferred direction, killing a proposed ban on weed vapes and pre-rolls flavored like anything except cannabis.

PLUS: Unanswered questions for Stiiizy in San Diego and San Joaquin counties…

Read the story

Correction: This paragraph originally said it was a state assembly committee.

Federal:

• Young Americans are strongly behind President Biden’s move to loosen weed restrictions, and he needs their vote.
  Politico
• As it weighs rescheduling, the Biden administration seeks to dismiss the high profile Massachusetts lawsuit challenging prohibition.
  Marijuana Moment 
• Lawyer Matt Zorn and former lawyer Marc Hauser agree Schedule III won’t lead to FDA regulated weed.

Business:

• MSOs are focused on wholesale growth in 2024.
  MJBiz
• Companies also say new restrictions in REC markets are “not conducive to business.”
  MJBiz
• Uber continues to lobby the federal government in support of banking reform.
  Green Market Report
• Planet 13 sold a vertical Florida MED license for $9M. The Deep Dive also discusses the retailer’s efforts to reclaim tens of millions in lost cash.
  Cannabis Equipment Magazine
• Cannabis Business Times discusses what a famous legal case about the role of federal regulators could mean for weed.
• One high flying MedMen‘s stock hit $0 as CEO Ellen Deutsch Harrison and executive chair Michael Serruya departed. Catalyst CEO Elliot Lewis crudely thanked MedMen for its lunch money.
  MarketWatch 
• Vertosa CSO Harold Han explained why potency results can vary so much among labs.
• MBO Ventures’ Darren Gleeman explained how an employee stock ownership plan (ESOP) may help companies get around industry hated tax rule 280E. 
• Law firm Bianchi & Brandt provided a corporate law perspective on The Great Correction in industry M&A.
• Law360 named Akerman cannabis group of the year.

State and local:

• A new lawsuit seeks to undermine New York’s equity program.
• The cannabiz doesn’t like New York Gov. Kathy Hochul’s (D) proposed replacement for the potency tax, which would create an effective tax rate of 23%. The state regulator also postponed a meeting, angering many in the industry.
  NY Cannabis Insider, Green Market Report
• Florida Gov. Ron DeSantis expects REC to be on the November ballot.
  Union-Leader
• In New Jersey, Gov. Phil Murphy (D) signed a bill giving political players more clout in the industry. The Garden State also took steps towards allowing consumption lounges.
  NJ.com, High Times
  
• All but one of Arizona’s equity licenses are controlled or owned by non-equity entities, MSOs in many cases.
  Arizona Republic
• Colorado operators want the rules loosened.
  Westword
• After months of delay, Massachusetts is accepting applications for its equity trust fund.
  Talking Joints Memo
• MED is catching on in Mississippi.
  Green Market Report

Health and science:

• A study found cannabis use could make you nicer.
  Scripps News

Fun and interesting:

• Sean Azzariti doesn’t know what to do with the first legal REC ever purchased in Colorado.
  Westword

Business:

• In an interview with Black Cannabis, Cookies CEO Berner said he hasn’t made any money from the Cookies brand in the legal industry.
• Coastal Sun Farm‘s Darren Story posted on the latest for brands owed money from the Herbl collapse.
• In a post headlined “Payment terms: Never” Stone Road boss Lex Corwin discussed how delivery service Grassdoor handled its sudden closing with Lauren Yoshiko. 

Local:

• Monterrey extended the deadline for part of applications due to a technical glitch.
• Long Beach announced a two-tier plan for pot tax relief.
  Signal Tribune
• San Diego Co. supes voted to accept a $2M grant from the state to help with licensing.
• Yreka (Siskiyou Co.) is taking steps to make MED available.
  KOBI5

Crime:

• A Ventura Co. woman found guilty of involuntary manslaughter after fatally stabbing her boyfriend 108 times in a state of weed-induced psychosis, will not go to jail.
  LA Mag

Company milestones:

• Tech shop Meadow arrived in New Jersey.

Upcoming:

• Jimi Devine’s No Sleep Over sesh is February 2 in LA. Devine also discussed the history of the Emerald Cup with competition director Victoria Shea.
• Benzinga is hosting a one day conference on the California market, Feb. 22 in LA.