In the midst of the turmoil over cannabis industry banking, payment-processing service Square launches a pilot program for CBD companies to process credit card transactions. With federal reform on the horizon, Square is spearheading what is sure to become common practice in the near future.
In California, smaller marijuana farms compete with large-scale cultivators by forming co-ops. Sharing insurance and licensing costs, maintaining focus on high quality craft cannabis, and navigating changing policies as a group are giving co-op members a way to compete with huge corporations, although some are still skeptical of their chances. Let us know what you think online at Cannabis Broadcast Station.
In Arkansas, one of only two of the state’s operating MMJ dispensaries, Doctor’s Orders RX, is being sued over copyright infringement, by the Arkansas-based drugstore chain Doctor’s Orders Pharmacy. After an initial cease-and-desist letter, the dispensary still refused to change its name, although it would not affect their day-to-day operations.
Let’s take a look at international news:
In finance, Canopy Growth acquires London-based skincare and sleep solutions company This Works, for 73.8 million Canadian dollars. With a successful range of high quality products and a customer base spanning 35 countries, This Works is confident in their first foray into the CBD realm with Canopy.
In Canada, top financial institution Scotiabank released a new report warning of cannabis oversupply issues in the Canadian market. Although the report, which covered Aurora, CannTrust, Hexo, and Organigram, cautioned against complacency, it also predicted substantial growth and the potential of the U.S. legalization of recreational marijuana and international MMJ industries.
Overseas, South Africa becomes the first country on the African continent to approve a federal cannabinoid law, opening up a legal market for non-prescription CBD. Cannabis was already legal under the country’s MMJ program, but the rule change will allow certain preparations to be commercialized, although some question how it will be regulated.
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Directed by: Micah Tatum @arbitrageent
News Anchor: Jacqui Verdura
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