Cannabis News Today – June 12th, 2024
Welcome to “Cannabis News Today,” your daily roundup of the most significant happenings in the Cannabis Industry.
How Ohio’s Marijuana Changes Affect Cannabis Stocks
Ohio’s impending legalization of adult-use cannabis is expected to significantly impact the state’s industry, with projections suggesting the market could reach $1 billion by 2025 and $2 billion by 2027. The market rollout includes social equity licenses to foster diversity, and companies with strong product quality and wholesale strategies are best positioned for success. Regulatory constraints like dispensary caps and cultivation limits will shape the competitive landscape, potentially keeping prices higher and profit margins favorable. Read all about it on the TDR Website!
Bloomwell Group Launches Germany’s Largest Medical Cannabis Platform
The Bloomwell Group has unveiled Germany’s largest medical cannabis platform, marking a significant step in expanding access to medical cannabis in Europe. The platform aims to streamline the process for patients and healthcare providers, enhancing the efficiency of medical cannabis distribution. Read all about it on the TDR Website!
DeSantis Targets Abortion and Cannabis Amendments on Florida Ballot
Florida Governor Ron DeSantis is targeting proposed amendments related to abortion and cannabis for the state’s upcoming ballot. His administration is pushing back against measures that could expand access to cannabis, reflecting ongoing political tensions surrounding cannabis legalization. Read all about it on the TDR Website!
South Africa Legalizes Cannabis Use: Will the Rest of Africa Follow?
In a historic move, South Africa has legalized the use of cannabis, setting a precedent that could influence other African nations. This decision is expected to have significant cultural and economic impacts, potentially leading to broader cannabis reform across the continent. Read all about it on the TDR Website!
Cannabist Company Continues Virginia Expansion with New Dispensary
The Cannabist Company Holdings (Cboe CA:CBST, OTCQX:CBSTF) is expanding its footprint in Virginia with the opening of a new dispensary in the state. This addition is part of the company’s broader strategy to increase its presence and service offerings in the growing Virginia cannabis market. Read more all about it on the TDR Website!
Grown Rogue Announces Early Conversion of Debentures
Grown Rogue (CSE: GRIN, OTC: GRUSF) has announced the early conversion of debentures, signaling strong financial health and investor confidence. This move is anticipated to strengthen the company’s capital structure and support its growth initiatives in the cannabis market.
Curaleaf and TerraCycle Partner on New Cannabis Recycling Initiative
Curaleaf (TSX:CURA, OTCQX:CURLF) has partnered with TerraCycle to launch a new recycling initiative aimed at addressing the environmental impact of cannabis packaging. This cannabis news was reported yesterday on Recycling Today. The program will allow consumers to recycle cannabis packaging more effectively, even if residue remains on the plastic, promoting sustainability in the industry.
Governor Hochul Announces Issuance of 105 Additional Adult-Use Licenses in New York
New York Governor Kathy Hochul has announced the issuance of 105 additional adult-use cannabis licenses, significantly expanding the state’s legal cannabis market. This move is expected to enhance economic opportunities and access to legal cannabis for New Yorkers.
Connecticut Reports Record Marijuana Sales
Connecticut has reported record marijuana sales, reflecting the state’s thriving legal cannabis market. Governor Ned Lamont highlighted the positive economic impact of cannabis legalization, emphasizing the benefits for state revenue and public health.
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