California Marijuana

LOUISVILLE, Colo. – (TSX: CWEB) (OTCQX: CWBHF), Charlotte’s Web Holdings, Inc. ‎‎(“Charlotte’s Web” or the “Company”), the market leader in full spectrum hemp extract wellness ‎products, comments on certain demands made to the Company’s Board of Directors (the “Board”) by ‎Joel and Jesse Stanley (“Joel and Jesse”) in connection with the Company’s upcoming June 15, 2023 annual ‎general shareholder meeting (the “Meeting”)‎. Late afternoon on Friday, June 9, 2023, Joel and Jesse delivered a letter to the Board (the “Letter”) ‎demanding that the Board take immediate steps to facilitate the replacement of a majority of Board ‎members, including all but one of the independent Board members (the “Targeted Directors”) with ‎four individuals selected by Joel and Jesse.  Two of the four individuals proffered were Joel and Jesse ‎themselves and one of the individuals is their long-standing business associate. The Letter provided that the Board acquiesce to their demands within 48 hours...

SMITHS FALLS, Ontario – Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (NASDAQ: CGC) is providing this bi-weekly update on the status of the management cease trade order granted on June 2, 2023 (the “MCTO”) by its principal regulator, the Ontario Securities Commission under National Policy 12-203 – Management Cease ‎Trade Orders (“NP 12-203”), following the Company’s announcement on May 26, 2023 (the “Default Announcement”) that the Company has initiated an internal review of the financial reporting matters related to BioSteel Sports Nutrition Inc. (the “BioSteel Review”) and has determined that it will need to restate its (i) audited consolidated financial statements for the fiscal year ended March 31, 2022, included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2022 and (ii) unaudited consolidated financial statements for the quarterly periods ended June 30, 2022, September 30, 2022 and December 31, 2022, incl...

TALLAHASSEE, Fla. – In a move to “preserve cash and improve financial performance,” Trulieve Cannabis Corp. exited two markets in June. The company closed its remaining California dispensary and all three retail locations in Massachusetts. In addition to closing the Massachusetts dispensaries, Trulieve intends to wind down cultivation and processing operations in the state by year’s end. The downsizing followed a partial withdrawal from California and exiting the Nevada wholesale market last year. The company also has reduced production capacity across multiple markets “to match consumer demand.” Market pullbacks reduced the company’s workforce by about 16 percent in 2022, and another 128 employees are expected to be severed by the California and Massachusetts actions. “These difficult but necessary measures are part of ongoing efforts to bolster business resilience and our commitment to cash preservation as we continue to focus on our business strategy of going deep in our core m...

SAN FRANCISCO — PAX, a leading global cannabis brand, today announced the expansion of its cannabis portfolio to include the brand’s first edible THC product. An established leader in the vaporization category for more than a decade, PAX’s entry into cannabis-infused gummies provides consumers with an extended set of offerings that deliver on the high level of quality and consistent experience for which the brand is known. PAX Live Rosin Gummies are crafted from real fruit without solvents, artificial flavors or colors, and are vegan and gluten free.  PAX Live Rosin Gummies deliver consumers with a naturally balanced, full flower experience, made with full spectrum live rosin — the purest cannabis extract, rich in cannabinoids, terpenes and other whole plant compounds. Developed with a team of chefs, food scientists and culinary innovators with a passion for delicious, natural and sustainable products, our hand-molded gummies were kitchen-tested in small batches to perfect flavor...

Saint Paul, Minn. – With the stroke of a pen, Gov. Tim Walz (D) made Minnesota the twenty-third U.S. state to embrace adult-use legalization. The law will take effect on August 1, but sales are not expected to begin until sometime next year. The law permits adults to purchase up to two ounces of flower, eight grams of concentrate, and 800 milligrams worth of edibles from state-licensed retailers. Minnesotans also may home-cultivate up to eight plants, no more than four of which can be mature, and possess up to two pounds of plant material. The bill also facilitates automatic review and expungement of previous nonviolent marijuana convictions. Officials will begin reviewing and expunging tens of thousands of convictions on August 1. State regulators with the newly created Office of Cannabis Management will oversee licensing for commercial cannabis growers , retailers, and delivery services. On-site consumption will be allowed at certain permitted events. Municipal officials will b...

In the old days, reputation was everything in the world of cannabis. Without the benefit of government regulation, internet searches, or scientific research, trust played an outsized role in the process. These days, fortunately, such leaps of faith no longer are required thanks to the advent of state-legal markets. Today, many brands understandably have staked their claim to a piece of the market through roots based on heritage and culture. From formerly underground empires gone legit to those whose claims to plant medicine extend back thousands of years, the instinct to make your brand stand out is wise in a marketplace seemingly always flush with fresh competition. Beyond the obvious benefits of showcasing a proven track record in a crowded field, the specifics of a brand’s ties to culture and heritage also offer a direct bridge to connecting with customers and belief systems. Be it the seasoned expertise of a veteran green thumb now cultivating for the masses or a brand built ar...

SAN DIEGO — Philter Labs (PHILTER), the leader in secondhand smoke elimination technologies, secured an additional $1M (AUD) investment from Atayf Investments Pty Ltd. and a warrant for an equivalent investment by the end of 2023. Btomorrow Ventures, the venture capital arm of British American Tobacco, originally led the financing round. The allocated funds will further propel R&D initiatives within the company. They will also back the introduction of the industry’s first-ever heat-not-burn device specifically designed for organic substrates with the ability to eliminate secondhand smoke. Atayf Investments is the Family Office investment group associated with Charlie (Khalil) Shahin AO, Managing Director of Peregrine Corporation. Peregrine operates the On The Run brand of service stations and convenience stores in South Australia; this privately owned Australian company has a broad reach. They also manage Smokemart & GiftBox tobacconists vape and other retail stores throu...