Welcome to our midweek Trade To Black podcast, where we examine the latest news regarding cannabis, psychedelics, AI, crypto and more. We’ve got speculation on the imminence of rescheduling cannabis, Israel investigating ten Canadian companies, and also what are the ramifications of what is happening with AYR Wellness?
Kicking off our top midweek industry headlines with “Into The Wire,” Israel has some concerns with Canada and the import-export of commercial medical cannabis. Israel has launched an ‘anti-dumping’ probe into ten Canadian cannabis companies, requiring these firms to submit information and evidence so that it can be determined whether injury is being done to Israel’s local cannabis industry. Canada has faced accusations about the import-export situation before from countries like Australia, Colombia, and Jamaica, due to Canada’s refusal to allow commercial imports.
In the US, senators are push for swifter descheduling of cannabis. We take a closer look at Chris Van Hollen, Elizabeth Warren, and Chuck Schumer. These senators are united in urging the Biden administration to deschedule marijuana from the Controlled Substances Act (CSA). The Senators emphasize the need for complete descheduling to eliminate criminal and civil penalties for marijuana use, citing changing state laws and public opinion.
The state of Virginia appears to be navigating towards a regulated recreational cannabis market. We take a look inside the Debate Virginia’s General Assembly and their work on establishing a regulated recreational marketplace. The Virginia Cannabis Control Authority would be able to grant licenses July 1, 2024. There appear to be disagreements among supporters and uncertainty regarding Governor Glenn Youngkin’s stance. These raise questions about the approach, possession limits, taxation, and criminal justice elements.
AYR Wellness is in nearly completed with their debt restructuring plan. We’ll take a deep dive into the deal which involves the exchange of senior secured notes and issuance of new shares and warrants. The company balances immediate financial needs with long-term shareholder value in the restructuring process, aiming for completion by February 7, 2024. However, this will dilute the existing share structure.
Catch the details on these headlines and more when you tune in to this episode.