PROHIBITION PARTNERS ACQUIRES BUSINESS OF CANNABIS

By prohibitionpartners.com

Prohibition Holdings Ltd (parent company of Prohibition Partners) today announces its 100% acquisition of Business of Cannabis to form the industry’s new leader in media and data as well as the largest B2B audience in cannabis.

Business of Cannabis, founded in 2017, is a premium media platform that has become one of the definitive news, analysis and data sources for the North American cannabis industry. It is now part of a global portfolio of data, technology and media brands that includes Prohibition Partners, Cannabis Europa, Atalis and BusinessCann. The acquisition will supercharge Business of Cannabis’s ability to offer premium content, experiences and analysis to its North American audience. Business of Cannabis will retain its name and Co-Founder Jay Rosenthal will remain on as Managing Director while also taking on the role of VP, North America for Prohibition Partners.

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West Mich. cannabis operators debate federal reforms

BY KATE CARLSON

Congress will inevitably relax decades-old federal restrictions on cannabis, West Michigan industry experts say, but how and when lawmakers will act are key unanswered questions that could determine who gains access to the market.

Several federal cannabis reforms are pending in Congress, including the Secure and Fair Enforcement (SAFE) Banking Act and the Cannabis Administration and Opportunity Act. The SAFE Banking Act passed the U.S. House in April, while Democratic Senate Majority Leader Chuck Schumer proposed the Cannabis Administration and Opportunity Act in draft form on July 14. 

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‘Sophisticated’ cannabis

By Ivor Howatson

POLICE found a “sophisticated” cannabis farm at a property in Kinmel Bay – and one of the suspects hiding in the loft.

North Wales Police interception officers made the discovery following a forced entry at a property on Thursday.

Three men were also located at the property and put forward for questioning. However this followed a game of “hide and seek” in which one individual attempted to evade police by hiding in the loft of the building.

Police shared an image of the cannabis being grown at the property, along with four large bags of cannabis, adding that while officers were forcing entry a passing member of the public shouted “you’re not getting in that, you little sausages”.

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No More Cannabis Tourism In Barcelona? Court Overturns Regulations On ‘Clubes Cannábicos’

By Cecilia Rodriguez

From the start, there’s been a loophole in the legislation regulating where people in Barcelona can freely buy and smoke marijuana, better known as “clubes cannábicos” or “asociaciones cannábicas.”

Now that loophole is being closed via a decision by Catalonia’s Superior Court overturning a 2016 regulation approved by the Barcelona City Council permitting the clubs to operate in the city.

The decision could force the associations to close.

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UK’s Kanabo to buy Canadian cannabis producer Materia

By Reuters Staff

(Reuters) – Kanabo Group Plc said on Monday it would buy Canada-based cannabis producer and distributor Materia for an undisclosed sum, sending shares in the London-listed medical marijuana firm up 8%.

The deal gives Kanabo an entry into the German market, the largest for medical cannabis in Europe, where industry research group Brightfield estimates sales to exceed $2 billion by 2025.

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Utah cannabis lawsuit alleges impropriety in how state doled out grower licenses

By Bethany Rodgers

A new lawsuit claims that multistate cannabis cultivators had an unfair advantage in the competition for one of Utah’s lucrative marijuana growing licenses — and that state officials “coached” certain applicants in how to win.

Officials at the Utah Department of Agriculture and Food (UDAF) allowed their personal connections to sway them as they doled out the eight licenses in 2019, according to the federal complaint filed Monday by one of the rejected applicants.

Not only was this unfair to plaintiff JLPR LLC, the lawsuit claims, but it also damaged the state’s medical cannabis program in its infancy.

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U.S. Senate seeking public comment on cannabis legalization

by Deon Osborne

In a landmark decision that some still see as a long-shot, Democratic senators have released a draft of a bill that would decriminalize cannabis nationwide.

In what they call an effort to end the unfair targeting and treatment of communities of color, Senate Majority Leader Chuck Schumer (D-NY), Senate Finance Committee Chair Ron Wyden (D-OR) and Senator Cory Booker (D-NJ) unveiled the Cannabis Administration and Opportunity Act on July 14. 

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A Unique Purchase Could Propel This Multi-State Cannabis Operator to the Forefront of a Big Market

By Jeff Little 

It’s fair to say that cannabis has officially entered the mainstream. There are 36 states that now allow medical cannabis, and 18 have approved legislation that legalizes adult recreational use.

Across the country we are seeing multi-state operators (MSOs) like Green Thumb Industries (OTC: GTBIF) gobble up competitors, as it did with Fiorello Pharmaceuticals in 2019 to give it one of only 10 vertical integration licenses in New York. That license allows Green Thumb to host a full supply chain from cultivation to sales of products. The company continues to set its expansion sights via acquisitions, but also through real estate purchases. One such purchase presents an interesting opportunity.

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Vista denies appeal to open cannabis dispensary

By GARY WARTH

VISTA — 

A cannabis dispensary that had sued the city of Vista after being denied a license once again has been told it cannot operate a local business in the city limits.

Vista City Council members heard the appeal from the Frank Zimmerman Collective in a special meeting last month. Attorney Jeff Augustini represented the dispensary and said it was unfair to deny its license solely because it would have been within 500 feet of the Riverside County Dispensary and Delivery, because the other business should not have been permitted.

Augustini argued that Riverside County Dispensary and Delivery did not submit a complete application and its landlord had not consented to allow a cannabis business. He also said the actual owner of the business was not the person named in the application, but instead was someone who had operated an illegal dispensary on the same property but was trying to hide his identify from the city.

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Cannabis-Growing Gathers Momentum in Zimbabwe

By Columbus Mavhunga

BEATRICE, ZIMBABWE – Zimbabwe recently scrapped rules requiring sole state ownership for cannabis farming to encourage investment in the plant for industrial and medicinal uses. Zimbabwe is Africa’s largest tobacco producer, but authorities expect hemp export earnings to start replacing tobacco as farmers seek higher earnings from the crop.

Farmer Jesper Kirk has been growing mainly tobacco since he moved to a 250-hectare farm five years ago. He now plans to increase his hectarage of hemp, a type of cannabis plant that has very low levels of THC — the intoxicating substance in marijuana — when the growing season begins in a few months.

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