Cannabis News Today – July 3rd, 2024

Welcome to “Cannabis News Today,” a summary of the stock and regulatory updates for the Cannabis Industry.

TDR Exclusive Interview: Ontario Attorney General Doug Downey Shares Insights on Cannabis Market

In an interview, Ontario Attorney General Doug Downey highlighted both the progress and ongoing challenges in the province’s cannabis market. Despite advancements, the black market remains a significant issue. Economic growth has been driven by increasing public acceptance, and Ontario’s free market approach has led to a dynamic but sometimes saturated market landscape. Downey expressed optimism about the future, emphasizing the need for continued regulatory adjustments to further diminish the black market’s influence. Read all about it on the TDR Website!

Key Acquisitions and Approvals Highlight MariMed’s Progress in 2024

MariMed Inc. (OTC: MRMD, CSC: MRMD) has made substantial progress in 2024, marked by key acquisitions and regulatory approvals. Notably, the company has received approval for adult-use sales at its Quincy Panacea Wellness dispensary in Massachusetts and secured a provisional dual-use license in Ohio. Additionally, MariMed’s expansion in Maryland includes the acquisition of Medleaf, now Thrive Wellness, and approval to expand its Hagerstown cultivation facility. Read all about it on the TDR Website!

Preparing for Cannabis Earnings Season: Understanding SG&A Margins

SG&A (Selling, General, and Administrative expenses) are crucial for evaluating a company’s operational efficiency and profitability in the cannabis sector. These expenses, which include salaries, marketing, and rent, are measured as a percentage of revenue, known as the SG&A margin. In the US MSO cannabis market, the average SG&A margin has improved, decreasing from 39.5% to 38.2% over the past year, indicating better cost management as companies mature and scale their operations. For the upcoming earnings season, monitoring changes in SG&A margins compared to previous periods will be key to assessing ongoing efficiency improvements. Read all about it on the TDR Website!

Trulieve Expands in Florida

Trulieve Cannabis Corp. (CSE: TRUL, OTCQX: TCNNF) is set to open a new medical cannabis dispensary in Homosassa, Florida. This addition is part of Trulieve’s ongoing effort to expand its presence across the state, providing more access points for medical cannabis patients. The new dispensary will offer a wide range of Trulieve’s in-house brands and partner products, continuing its commitment to delivering high-quality cannabis products to its customers​​.

Schwazze Moves to OTC Expert Market

Schwazze (OTCQX: SHWZ) has announced its transition to the OTC Expert Market. The company also provided an update on its delayed filing, indicating steps are being taken to address the issue promptly. This move is aimed at enhancing shareholder value and improving transparency with its investors​.

Supreme Court Sends Marijuana and Gun Case Back to Lower Court

In a significant legal development, the U.S. Supreme Court has remanded a case involving marijuana and gun ownership back to a lower court. This decision strengthens the Department of Justice’s stance on the federal firearm ban for marijuana users, a topic that continues to generate substantial legal and public interest​.

Dispute Among Marijuana Activists Over Big Tobacco Involvement

A rift has emerged among marijuana activists regarding accusations that a regulatory group wrongfully hosted an organization backed by Big Tobacco. The controversy centers on the ethics and implications of Big Tobacco’s involvement in marijuana industry discussions, highlighting ongoing tensions within the cannabis advocacy community​​.

German Marijuana Clubs Begin Operations

Germany’s legalization law has officially taken effect, allowing marijuana clubs to launch under varying state regulations. This marks a significant step in Germany’s cannabis reform, providing a regulated framework for the establishment and operation of marijuana clubs across the country​.

North Dakota Activists Secure Signatures for Legalization Ballot

Activists in North Dakota have collected enough signatures to place marijuana legalization on the ballot this November. If successful, this initiative could lead to significant changes in the state’s cannabis laws, aligning North Dakota with other states that have moved towards legalization​​.

Canadian Woman Charged with Importing Cannabis Released on Bail

In Bermuda, a Canadian woman charged with importing cannabis valued at $1.7 million has been released on bail. This case underscores the ongoing challenges and legal issues surrounding international cannabis trade and regulation​.

Florida Freedom Fund Faces Fundraising Challenges

The Florida Freedom Fund, associated with Governor Ron DeSantis, is off to a slow start in its fundraising efforts. This development may impact future political campaigns and initiatives related to cannabis policy in Florida​​.

Read more cannabis news on the TDR Website!

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