Los Angeles City Council Unanimously Moves To Restart Its Legal Marijuana Market
The LA City Council gave initial approval to expand licensing and provide assistance to those unfairly affected by the nation’s uneven drug enforcement policies. These revisions will provide new delivery and retail licenses to social-equity applicants -- individuals who were arrested for marijuana offenses and residents disproportionately suffering from social injustice at the hands of law enforcement.
Israel Closer To Legalizing Cannabis
A bill to legalize cannabis use was approved by the Israeli Ministerial Committee for Legislation on Sunday, passing its first hurdle on the way to becoming law. The legislation will decriminalize the possession of up to 50 grams of marijuana in Israel, while fully legalizing the possession and consumption of up to 15 grams by individuals above the age of 21.
70% Of Americans View Consuming Marijuana As 'Morally Acceptable', New Gallup Survey Says
In a new Gallup study published Tuesday, seventy percent (70%) of Americans find "smoking marijuana" to be 'morally acceptable'. The latest finding represents a +5 point increase versus last year's survey, reflecting a more informed population regarding the pros and cons of marijuana use, particularly for Health and Wellness.
Looking for a Great Article on Social Injustice and the Cannabis Industry?
Then check out Ika Washington's piece "Hey, cannabis industry your silence is deafening!" featured in MEDIUM.
Aurora Cannabis Announces Another Round Of Jobs Cuts And Facility Closures
In an effort to transform its business and move to profitability in 2021, Aurora Cannabis will immediately cut 25% of its selling, general and administrative staff, while reducing production staff by 30% over the next two quarters. The company also said it would close operations at its Aurora Prairie, Aurora Mountain, Aurora Ridge, Aurora Vie, and Aurora Eau facilities. Part of the Vie facility in Quebec will remain operational for “higher margin products.”
Sign Of The Times? Acreage Holdings Secures $15M Loan at 60% Interest
Evidencing how difficult capital market access can be for cannabis companies, Acreage Holdings entered into a definitive $15M four month funding agreement at an unbelievable annual interest of 60%. The proceeds will be used to "keep the lights on" which means working capital and general corporate expenses.
Cannabis Health & Wellness
Two New Cannabis Research Studies Show Promising Results
Two new medical marijuana research studies were released this week and added more evidence to the health and wellness benefits of marijuana. Topline findings among patient samples demonstrated significant improvements in quality of life including a reduction hospital/ER visits, prescription drug intake, as well as decreased discomfort from pain and inflammation.