In California, Senate Majority Leader Mitch McConnell holds several meetings with marijuana, hemp and CBD industry representatives during a two-day trip to the golden state to discuss cannabis banking and other issues. The Republican Senator from Kentucky has historically been opposed to marijuana reform, however many see the meetings as a step toward a Senate vote for the SAFE banking act, which passed the House a couple of weeks ago.
In Oregon, democratic governor Kate Brown signs an executive order prohibiting the sale of all flavored vape products, whether cannabis or tobacco, for six months. The ban, which follows others in Washington state and Massachusetts, is aimed at protecting consumers from additives that may cause illness, but critics are arguing that it unnecessarily impedes the industry when there is no conclusive evidence as to what exactly is harmful in vape products. What do you think? Let us know online at Cannabis Broadcast Station.
In Pennsylvania, multistate operator Vireo Health signs a three-year pact with the United Food and Commercial Workers Union, creating the first vertically integrated medical cannabis labor agreement in the state. The deal covers employees in the cultivation, processing and retail sectors, guaranteeing competitive wages, access to healthcare and retirement plans, and workplace safety measures among other provisions.
In Nevada, democratic Governor Steve Sisolak announces the launch of a multi-state agency special task force to investigate corruption in the state’s legal cannabis market, including manipulated lab results and sales to minors. This comes after a federal indictment revealed the channelling of foreign capital into two Nevada political campaigns in order to obtain a marijuana business license.
Let’s take a look at international news:
In finance, Canopy Growth purchases a 72 percent stake in leading sports nutrition product manufacturer BioSteel, with an agreement for eventual 100 percent ownership. BioSteel’s brand has a presence in over 70 percent of teams in North America’s four major sports leagues, with ambassadors such as the Dallas Cowboy’s Ezekiel Elliot and NHL Hall of Famer Wayne Gretzkey, and the partnership will enable them to incorporate CBD into their future product offerings.
In Canada, Toronto-based marijuana company Aleafia Health plans to cancel a supply deal with Aphria, after failing to receive scheduled cannabis shipments, and may also seek the return of its nonrefundable 22.8 million Canadian dollar deposit. The dispute could pave the way for action from other companies, as supply issues have been a common occurrence throughout the country.
In Mexico, parliament scrambles to draft a final bill as the Supreme Court-mandated October 23rd deadline to legalize recreational cannabis draws nearer. At least a dozen different proposals are still on the table, with a recent statement by President Obrador that marijuana legalization is not the government’s priority further confusing the issue.
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