Welcome to the Cannabis Countdown. In this week’s rendition, we’ll recap and countdown the top 10 Marijuana Industry News stories for the week of February 10th – 16th, 2020.
Without further ado, let’s get started.
10. Here’s How President Trump’s New Budget Proposal Could Hurt the Legal Cannabis Industry
New Fiscal 2021 Budget Proposal Shows Trump and U.S. States Very Far Apart on Medical Cannabis
President Trump’s fiscal 2021 budget proposal looks to be targeting marijuana states’ rights by seeking to end an existing policy that protects state-legal Medical Cannabis programs from interference by the Department of Justice (DOJ) as well as an additional provision that would continue blocking Washington D.C. from legalizing adult-use cannabis.
READ FULL TRUMP CANNABIS ARTICLE
9. Psilocybin Magic Mushroom Dispensaries Could Become a Reality in North America
Psychedelic Substances Such as Psilocybin Mushrooms Could Follow a Similar Path as Cannabis
The growing Psychedelics reform movement taking place in the United States and Canada has many pondering the real possibility of Magic Mushroom dispensaries in the not too distant future.
READ FULL SHROOM DISPENSARIES ARTICLE
8. Top Mexican Senator Says Marijuana Legalization Bill Will Be Approved This Month
Congress Has Until the End of April to Legalize Cannabis But Hopes to Do it This Month
A top Mexican lawmaker says the nation’s Senate will vote on a bill to legalize marijuana by the end of this month.
READ FULL MEXICO CANNABIS ARTICLE
7. How Much Cannabis Each State Sold in the First Month of Legal Sales
Out of the 9 States With Legal Cannabis, Which State Earned the Most in its First Month?
Illinois dispensaries sold nearly $40 million worth of cannabis in the first 31 days of recreational sales this January. So where does that $40 million in first-month legal cannabis sales rank all-time among other states that have legalized?
READ FULL 1ST MONTH SALES ARTICLE
6. After a Rough 2019, California’s Cannabis Industry Will Bloom in 2020
One of the biggest constraints on California’s legal industry has been the widespread prohibition of cannabis businesses in local municipalities. Marijuana is legal statewide, but 67% of the state’s local jurisdictions do not allow retail stores. That’s starting to change. Cities and counties are now beginning to compete to attract cannabis dollars.
Source: Shutterstock
5. Large U.S. Cannabis Companies Look to Debt Funding Versus Equity and Sale-Leaseback Deals
Falling Pot Stock Prices Have Made Equity a Less Attractive Source of Funding for Cannabis Companies
Big marijuana companies in the U.S. increasingly are turning to debt as a funding tool, spurred by falling cannabis stock prices and terms that are more attractive than those for real estate sale-leaseback deals. Multi-state operators (MSOs) like Curaleaf Holdings (CSE: CURA) (OTCQX: CURLF) and Cresco Labs (CSE: CL) (OTCQX: CRLBF) (FRA: 6CQ) have led the way by announcing debt raises of up to $300 million and $200 million, respectively. Acreage Holdings (CSE: ACRG.U) (OTCQX: ACRGF) joined the bandwagon recently, announcing it secured up to $100 million through a credit facility with an unnamed institutional lender.
READ FULL DEBT FUNDING ARTICLE
4. Ontario Launches Consultations on Expanding Cannabis Business Opportunities
Province Looking to Offer More Choice for Consumers and More Business Opportunities
The Ontario government is launching consultations to provide consumers with more choice and convenience on cannabis while giving the private sector an enhanced ability to compete against and combat the criminal market.
3. Border Patrol Union Head Admits Legalizing Marijuana Forces Cartels Out of the Market
Union Head Brandon Judd Made the Remarks During an Appearance on C-SPAN’s Washington Journal
The head of the labour union that represents U.S. Border Patrol agents acknowledged on Friday that states that legalize marijuana are disrupting cartel activity.
READ FULL BORDER PATROL ARTICLE
2. Medical Cannabis Business Opportunities Could Swell in Several States this Year
Several States Could Expand Their Medical Cannabis Programs in 2020 Through New Laws or Regulations
The business prospects in the eight states listed in this article might not be as glitzy as new, hundred-million-dollar-plus cannabis markets. But they reflect the steady progress of medical marijuana programs across the country.
READ FULL MEDICAL CANNABIS ARTICLE
1. Demand For Psychedelic Investments Continues to Grow, New IPO Slated for 2020
New Psychedelic Firms Are Attracting Global Investor Interest With One Preparing to IPO Soon
Move over Cannabis Stocks, Psychedelics could become the new go-to alternative investment in 2020. The growing trend has caught the attention of some very high profile investors in former Canopy Growth (TSX: WEED) (NYSE: CGC) (FRA: 11L1) CEO Bruce Linton, Shark Tank’s Kevin O’Leary and a few very large Silicon Valley tech investors.
READ FULL PSYCHEDELICS IPO ARTICLE
Also Read: Cannabis Countdown: Top 10 Marijuana Stock News Stories of the Week
Recap and Countdown of the Top 10 Marijuana Stock News Stories for the Week of Feb 10 – 16, 2020
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