Welcome to the Cannabis Countdown. In this week’s rendition, we’ll recap and countdown the top 10 Marijuana and Psychedelics industry news stories for the week of April 13th – 19th, 2020.
Without further ado, let’s get started.
* Yahoo Finance readers, please click here to view full article.
The group stated their case to Democratic House Speaker Nancy Pelosi and Republican Minority Leader Kevin McCarthy. Nancy Pelosi, recently called for the inclusion of language in the upcoming Coronavirus Stimulus Bill that would provide cannabis businesses with increased access to banking services.
Champignon Brands (CSE: SHRM) (OTC: SHRMF) (FRA: 496) is growing a vertically integrated Psychedelic drug company. Champignon’s competitors such as MindMed (NEO: MMED) (OTC: MMEDF) (FRA: BGHM), are using different Psychedelics to treat different disorders, leaving Champignon more room to operate.
Cannabis company HEXO Corp. (TSX: HEXO) (NYSE: HEXO) (FRA: 74H) is enhancing its collaboration with Molson Coors (TSX: TPX.A) (NYSE: TAP) (FRA: NY7). Hexo announced that the joint venture Truss CBD USA will now produce non-alcohol hemp-derived CBD beverages in the Colorado market.
In recent weeks, some financial commentators have viewed the recent spikes in cannabis sales as a predictor of a bright future for the industry. Alan Brochstein’s expectations paint a less rosy picture for cannabis companies.
Mr. Bailey is the former president of Red Bull Canada and will now lead Champignon Brands (CSE: SHRM) (OTC: SHRMF) (FRA: 496) marketing, distribution and commercialization of the company’s Novo Formulations-branded novel delivery systems for the pharmaceutical, nutraceutical and Psychedelic medicine industries.
Members of Congress are looking to add its provisions to the next coronavirus stimulus bill. The argument is that many patients who use legal marijuana are among the most vulnerable to contracting COVID-19, and forcing them to deal in cash also puts employees at risk.
Canopy Growth (TSX: WEED) (NYSE: CGC) (FRA: 11L1) is ceasing more cannabis cultivation in Africa, Canada, Colombia and the United States in a bid to “improve efficiencies” in its global operations, the once high-flying marijuana giant said Thursday.
During this time of pandemic response, state and city governments around the country have deemed medicinal marijuana companies “essential businesses.” This means that they can remain open for business. Many have changed the way they operate — online and phone ordering, delivery, curbside — but nonetheless, they are open.
Ontario cannabis purchases rose as much as 600% since the beginning of March in Canada’s biggest market thanks to stockpiling by consumers during the COVID-19 pandemic – and demand may be sticking around.
Some large multi-state operators (MSOs) are hiring, including Trulieve (CSE: TRUL) (OTCQX: TCNNF) and Curaleaf (CSE: CURA) (OTCQX: CURLF). Trulieve is currently hiring for between 200 to 300 positions and has hired about 300 people since mid-March, Steven Ferrell, Trulieve’s director of human resources, said in an email.